Gold Digger: Trump's Big Beautiful Bill delivers more spooks to help gold miners
In an assessment contested by Donald Trump's team, the Congressional Budget Office thinks US spending will increase on the back of his "One Big Beautiful Bill Act"
That could provide more support for gold if US debt continues to rise
Focus, Dateline, G50 among this week's big precious metals movers
Among the major drivers of higher gold prices has been investor fears surrounding the US government's debt bill, now worth around US$36tn with interest payments annually getting close to US$1tn.
Only social security is a bigger impost on the American taxpayer, both a beneficiary and victim of decades of administrative largesse.
The latest is Donald Trump's "One, Big, Beautiful Bill Act", another move which has spooked investors.
Over in London, research analysts at Hannam and Partners have run the numbers on the act's impact in their latest gold and silver report.
"The US$ has been undermined by the unpredictable implementation of tariffs by the Trump administration, concerns about a recession, and concerns about the long term sustainability of the US's fiscal position given high debt and persistent deficits," they said.
"This concern has grown since the publication of the current budget reconciliation bill making its way through congress. Also known as the 'One Big Beautiful Bill Act', this could add US$3.8tn to federal debt over the next decade."
More of the same then.
Trust in US Treasuries and the USD as the choice safe haven asset class this year has been denuded, helping power gold's miracle run to US$3300/oz.
Many analysts think it goes even higher from here as investors join central banks as buyers.
Gold ETF holdings have lifted 5Moz YTD, according to Hannam analysts led by Jonathan Guy, though down 1.2Moz over the past month, while silver ETF holdings have risen 24.6Moz YTD (silver ETFs, while considerably lower than gold holdings in value, are larger in volume).
Hannam has 2025 gold modelled at US$2813/oz, well below current spot levels, with a long term price of US$2100/oz.
They say sovereign and physical buying is still more extreme than general investors.
"ETF demand has been strong across all markets since the beginning of 2025, although with some net outflows reported from Europe in April," they said.
"The forward position remains supportive with open interest of US$209bn (+30% YTD), although the COMEX net long position has declined from 757t at the beginning of the year to 559t (-26% YTD). This suggests speculative investors are taking a more cautious stance with more supportive buying from the physical market and central banks."
The White House, by the by, has claimed the Congressional Budget Office's assessment of the bill is wrong – it'll actually save US$1.6tn and doesn't account for the US$2.3-3.3tn trade Czar Peter Navarro claims will come in from the reciprocal tariffs announced on 'Liberation Day'.
How long can it last?
Canaccord Genuity's Carey MacRury, whose in the broker's Canadian team, noted the Big Beautiful Bill, which passed the House of Reps in the week gone by, adding that the deficit seven months into FY2025 was running 23% ahead of the same period in 2024.
Gold companies are enjoying stellar margins in the current environment, but the word from the broker's annual conference in Nevada last week was that they remain cautious about the long-term outlook for bullion.
"In gold, companies are enjoying record free cash flow and margins at >US$3000/oz but generally remain cautious on the sustainability of current price levels. Most are opting to return capital via share buybacks rather than committing to longer-term dividend increases or pivoting to more aggressive growth spending," MacRury said.
"M&A interest remains high, but discipline remains a priority with management teams focused on accretive, portfolio-complementary assets where they can add operational value.
"And despite strong balance sheets and a record combination of dividends and share buybacks, valuations remain at trough levels. We believe investors also still require conviction that US$3000/oz gold is sustainable."
Development stage names remain attractive to CG however, with MacRury saying they continue to trade at a 'meaningful discount'.
Winners & Losers
CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP
MRR Minrex Resources Ltd 0.01 0% 25% 25% -9% 43% $ 10,848,675.03
NPM Newpeak Metals 0.012 -20% 20% 20% -52% 9% $ 3,864,860.77
ASO Aston Minerals Ltd 0.022 0% 22% 144% 47% 144% $ 28,491,413.92
MTC Metalstech Ltd 0.13 -7% 30% 4% -38% -7% $ 27,133,811.38
GED Golden Deeps 0.02 5% 5% -23% -51% -20% $ 3,365,388.32
G88 Golden Mile Res Ltd 0.013 -7% 30% 30% 8% 44% $ 7,619,469.97
LAT Latitude 66 Limited 0.038 -16% -28% -40% 1800% 0% $ 5,449,226.79
NMR Native Mineral Res 0.2 29% 11% 506% 413% 413% $ 172,251,208.16
AQX Alice Queen Ltd 0.004 -20% -33% -50% -33% -50% $ 4,998,560.27
SLZ Sultan Resources Ltd 0.0065 8% -19% -19% -41% 8% $ 1,388,819.46
KSN Kingston Resources 0.115 -8% 22% 29% 44% 62% $ 90,534,982.78
AMI Aurelia Metals Ltd 0.3 -3% 0% 76% 58% 76% $ 507,771,792.00
GIB Gibb River Diamonds 0.037 9% -5% 9% -18% -8% $ 7,507,830.58
KCN Kingsgate Consolid. 2.07 2% 27% 45% 14% 61% $ 528,390,968.60
TMX Terrain Minerals 0.003 0% 20% -14% -25% 0% $ 6,745,669.80
BNR Bulletin Res Ltd 0.064 -6% -9% 60% 33% 64% $ 18,497,639.35
NXM Nexus Minerals Ltd 0.07 -7% -13% 17% 40% 56% $ 44,074,451.75
SKY SKY Metals Ltd 0.049 2% 2% -4% 20% -9% $ 34,824,455.13
LM8 Lunnonmetalslimited 0.215 8% -7% -22% -17% -14% $ 46,331,916.54
CST Castile Resources 0.054 -16% -30% -29% -37% -33% $ 18,039,166.22
YRL Yandal Resources 0.11 -21% -19% -50% -15% -37% $ 34,015,848.02
FAU First Au Ltd 0.0035 17% 17% 75% 17% 75% $ 6,215,979.83
ARL Ardea Resources Ltd 0.405 -1% -2% 19% -32% 23% $ 84,165,166.00
GWR GWR Group Ltd 0.095 -3% 1% 10% -2% 19% $ 30,742,632.23
IVR Investigator Res Ltd 0.022 0% -12% -42% -64% 10% $ 34,966,350.63
GTR Gti Energy Ltd 0.004 14% 33% 0% -33% 14% $ 13,495,273.48
IPT Impact Minerals 0.005 -9% -17% -56% -73% -47% $ 21,754,314.83
BNZ Benzmining 0.47 19% 21% 45% 276% 36% $ 65,300,905.62
MOH Moho Resources 0.004 -33% 33% -20% -11% -20% $ 2,981,656.11
BCM Brazilian Critical 0.01 11% 18% 0% -44% 11% $ 10,629,585.88
PUA Peak Minerals Ltd 0.021 17% 133% 233% 553% 171% $ 56,146,425.80
MRZ Mont Royal Resources 0.041 0% 0% 3% -25% -5% $ 3,486,221.51
SMS Starmineralslimited 0.024 -4% -11% -38% -11% -33% $ 3,643,359.67
MVL Marvel Gold Limited 0.0135 -4% 4% 35% 50% 50% $ 14,036,598.93
PRX Prodigy Gold NL 0.0025 25% 25% 25% -6% 25% $ 6,350,111.10
AAU Antilles Gold Ltd 0.004 0% 14% 0% -43% 33% $ 8,505,470.73
CWX Carawine Resources 0.098 2% 4% -11% -2% -2% $ 22,668,043.10
RND Rand Mining Ltd 1.92 0% 3% 17% 30% 27% $ 106,926,806.68
CAZ Cazaly Resources 0.015 -6% 0% 0% -29% 7% $ 6,919,544.87
BMR Ballymore Resources 0.165 3% 65% 10% -8% 38% $ 27,393,240.68
DRE Dreadnought Resources Ltd 0.012 -8% -20% -20% -25% 0% $ 55,874,500.00
ZNC Zenith Minerals Ltd 0.04 -2% -17% -7% -42% 0% $ 17,112,539.72
REZ Resourc & En Grp Ltd 0.016 0% -33% -38% 33% -30% $ 12,089,504.20
LEX Lefroy Exploration 0.088 13% 11% 17% -7% 26% $ 20,122,031.18
ERM Emmerson Resources 0.135 4% -7% 129% 170% 75% $ 82,630,454.27
AM7 Arcadia Minerals 0.017 -11% 6% -26% -76% -11% $ 1,995,518.36
ADT Adriatic Metals 5.2 5% 23% 25% 24% 33% $ 1,534,751,585.25
AS1 Asara Resources Ltd 0.052 6% -4% 126% 373% 174% $ 55,058,892.40
CYL Catalyst Metals 6.45 -3% 3% 140% 456% 150% $ 1,573,517,743.75
CHN Chalice Mining Ltd 1.155 3% 2% -15% -35% 5% $ 443,490,538.32
KAL Kalgoorliegoldmining 0.042 2% -3% 68% 31% 133% $ 16,021,411.43
MLS Metals Australia 0.018 0% -14% -28% -18% -22% $ 13,116,951.43
ADN Andromeda Metals Ltd 0.011 0% -21% 38% -35% 57% $ 41,946,773.81
MEI Meteoric Resources 0.12 14% 14% 28% -35% 41% $ 257,054,906.02
SRN Surefire Rescs NL 0.002 -20% -20% -32% -76% -32% $ 4,972,890.78
WA8 Warriedarresourltd 0.105 -16% 24% 75% 100% 139% $ 100,472,610.95
HMX Hammer Metals Ltd 0.036 20% 24% 0% -8% 9% $ 29,296,037.10
WCN White Cliff Min Ltd 0.028 0% 47% 65% 56% 75% $ 60,408,039.80
AVM Advance Metals Ltd 0.041 -2% -27% 21% 64% 21% $ 10,601,393.36
ASR Asra Minerals Ltd 0.003 50% 20% -25% -57% 0% $ 5,533,072.31
ARI Arika Resources 0.038 12% 41% 15% 52% 41% $ 26,540,250.20
CTO Citigold Corp Ltd 0.004 33% 0% 0% -20% 0% $ 12,000,000.00
SMI Santana Minerals Ltd 0.55 -1% 1% 4% 51% 13% $ 390,268,084.50
M2R Miramar 0.003 0% -25% -40% -68% 0% $ 2,990,469.86
MHC Manhattan Corp Ltd 0.023 0% 28% -43% -31% 21% $ 5,167,775.76
GRL Godolphin Resources 0.009 0% 0% -31% -70% -38% $ 4,488,733.12
SVG Savannah Goldfields 0.021 -5% 0% 14% -14% 14% $ 23,973,117.82
EMC Everest Metals Corp 0.155 3% 7% 24% 29% 15% $ 34,740,344.53
GUL Gullewa Limited 0.079 13% 7% 32% 11% 41% $ 16,133,640.73
CY5 Cygnus Metals Ltd 0.086 15% -3% -34% 21% -14% $ 62,132,611.98
G50 G50Corp Ltd 0.19 90% 73% -5% 27% 23% $ 28,907,578.62
ADV Ardiden Ltd 0.155 7% 7% 19% 3% 15% $ 9,690,213.43
AAR Astral Resources NL 0.18 9% 13% 38% 100% 33% $ 248,136,575.40
VMC Venus Metals Cor Ltd 0.135 29% 29% 93% 50% 101% $ 26,477,372.21
NAE New Age Exploration 0.004 0% 0% -11% 33% 14% $ 10,637,595.64
VKA Viking Mines Ltd 0.006 -20% -14% -45% -40% -25% $ 8,063,692.49
LCL LCL Resources Ltd 0.006 -14% -14% -40% -50% -40% $ 7,168,876.24
MTH Mithril Silver Gold 0.425 16% 21% 10% 98% 6% $ 53,932,503.14
ADG Adelong Gold Limited 0.006 -25% 0% 0% 50% 33% $ 9,782,403.39
RMX Red Mount Min Ltd 0.008 0% 0% -20% -47% -11% $ 3,719,662.37
PRS Prospech Limited 0.025 4% -11% -14% -36% -14% $ 8,220,647.18
TTM Titan Minerals 0.4 5% 0% -19% 29% 5% $ 99,068,168.28
AKA Aureka Limited 0.12 -11% -17% 14% -99% -11% $ 11,780,013.04
AAM Aumegametals 0.036 -3% -5% 0% -51% -14% $ 22,352,182.55
KZR Kalamazoo Resources 0.085 0% 1% 2% -15% 15% $ 18,867,842.46
BCN Beacon Minerals 0.0285 6% 6% 30% 2% 30% $ 118,339,072.38
MAU Magnetic Resources 1.75 6% 17% 50% 59% 58% $ 448,131,605.93
BC8 Black Cat Syndicate 0.815 -5% -19% 15% 123% 44% $ 562,353,170.01
EM2 Eagle Mountain 0.005 0% 0% -63% -91% -44% $ 6,242,705.09
EMR Emerald Res NL 4.75 3% 18% 31% 26% 46% $ 3,017,545,948.62
BYH Bryah Resources Ltd 0.005 25% 25% 25% -38% 67% $ 3,479,814.09
HCH Hot Chili Ltd 0.55 4% 20% -28% -48% -21% $ 83,377,881.95
WAF West African Res Ltd 2.83 8% 19% 87% 92% 97% $ 3,054,905,733.32
MEU Marmota Limited 0.042 -2% 8% 11% -5% 8% $ 53,023,760.55
NVA Nova Minerals Ltd 0.335 0% 0% 37% 43% -9% $ 100,129,199.27
SVL Silver Mines Limited 0.099 0% -1% -6% -49% 27% $ 177,977,539.20
PGD Peregrine Gold 0.12 -11% -25% -20% -57% -14% $ 11,030,206.33
ICL Iceni Gold 0.075 25% 10% 47% 6% 6% $ 19,459,785.18
FG1 Flynngold 0.031 24% 55% 7% 11% 24% $ 11,348,177.63
WWI West Wits Mining Ltd 0.026 -13% 37% 73% 86% 86% $ 70,964,816.93
RML Resolution Minerals 0.017 31% 113% 6% 6% 42% $ 7,361,015.97
AAJ Aruma Resources Ltd 0.01 0% 11% -33% -47% -17% $ 2,636,940.78
HWK Hawk Resources. 0.017 -15% -11% -43% -52% -23% $ 4,605,800.63
GMN Gold Mountain Ltd 0.002 0% 33% 0% -50% -33% $ 8,429,638.87
MEG Megado Minerals Ltd 0.014 8% 75% -7% 34% -18% $ 5,875,565.67
HMG Hamelingoldlimited 0.086 23% -2% 23% -4% 34% $ 14,371,875.00
BM8 Battery Age Minerals 0.048 -9% -11% -52% -68% -54% $ 5,728,915.68
TBR Tribune Res Ltd 4.81 -1% -5% 0% 26% 12% $ 251,846,769.60
FML Focus Minerals Ltd 0.385 60% 60% 114% 166% 126% $ 101,728,318.98
VRC Volt Resources Ltd 0.005 0% 11% 25% 0% 67% $ 18,739,111.93
ARV Artemis Resources 0.0065 8% -19% -35% -57% -19% $ 16,435,440.50
HRN Horizon Gold Ltd 0.51 2% 11% 11% 96% 6% $ 72,419,961.50
CLA Celsius Resource Ltd 0.006 -14% -14% -45% -40% -45% $ 21,948,419.16
QML Qmines Limited 0.035 3% -15% -49% -50% -35% $ 16,298,309.67
RDN Raiden Resources Ltd 0.006 0% 20% -60% -87% -45% $ 20,705,348.65
TCG Turaco Gold Limited 0.5 14% 22% 56% 138% 96% $ 451,990,730.50
KCC Kincora Copper 0.035 17% -10% -8% -33% 30% $ 8,289,367.35
GBZ GBM Rsources Ltd 0.008 0% -11% 0% -33% 0% $ 9,368,559.82
DTM Dart Mining NL 0.004 14% -20% -60% -83% -56% $ 4,792,222.31
MKR Manuka Resources. 0.037 9% 9% 6% -20% 32% $ 29,187,636.08
AUC Ausgold Limited 0.65 3% 23% 55% 76% 55% $ 230,554,047.72
ANX Anax Metals Ltd 0.008 0% 60% -20% -81% -33% $ 7,062,460.54
EMU EMU NL 0.018 -5% -10% -36% -32% -33% $ 3,802,472.42
SFM Santa Fe Minerals 0.037 0% 0% 28% -12% 19% $ 2,694,295.19
PNR Pantoro Gold Limited 3.4 -1% 20% 100% 122% 122% $ 1,334,063,288.70
CMM Capricorn Metals 9.76 5% 5% 50% 104% 55% $ 4,047,742,332.69
VRL Verity Resources 0.029 12% 81% 49% -57% 49% $ 7,742,283.14
HAW Hawthorn Resources 0.053 6% 20% 10% -22% 29% $ 17,755,827.49
BGD Bartongoldholdings 0.735 9% 52% 177% 126% 200% $ 158,720,390.83
SVY Stavely Minerals Ltd 0.013 18% 0% -35% -74% -24% $ 6,528,505.12
AGC AGC Ltd 0.16 0% 14% -18% -59% 3% $ 41,055,555.52
RGL Riversgold 0.005 25% 11% 67% -29% 25% $ 6,734,850.37
TSO Tesoro Gold Ltd 0.025 -7% -17% 4% -36% 25% $ 46,602,420.96
GUE Global Uranium 0.068 10% 10% 19% -31% 13% $ 29,267,467.13
CPM Coopermetalslimited 0.038 0% -5% -17% -65% -17% $ 2,977,514.70
MM8 Medallion Metals. 0.27 0% 13% 203% 440% 125% $ 132,247,879.40
FFM Firefly Metals Ltd 1.09 9% 34% 0% 38% 18% $ 614,656,448.53
CBY Canterbury Resources 0.026 18% 30% 18% -54% 18% $ 5,393,463.30
SLA Solara Minerals 0.12 4% -8% -47% -52% 33% $ 7,248,102.88
SFR Sandfire Resources 11.53 5% 13% 11% 19% 24% $ 5,306,870,701.60
TAM Tanami Gold NL 0.049 31% 40% 75% 40% 63% $ 65,805,434.58
NWM Norwest Minerals 0.011 -8% -8% -32% -64% -8% $ 9,122,872.54
ALK Alkane Resources Ltd 0.77 5% -9% 56% 36% 51% $ 454,156,419.00
BMO Bastion Minerals 0.0015 50% -50% -75% -81% -63% $ 1,807,255.13
IDA Indiana Resources 0.078 -4% 3% 30% 83% 28% $ 50,775,864.18
GSM Golden State Mining 0.008 -11% -11% 0% -27% 0% $ 2,234,965.04
NSM Northstaw 0.035 -8% -8% 106% 38% 119% $ 8,210,295.00
GSN Great Southern 0.02 -9% -5% 11% 11% 33% $ 20,932,890.09
VAU Vault Minerals Ltd 0.45 0% 2% 29% 2% 36% $ 2,959,075,921.17
DEG De Grey Mining 0 -100% -100% -100% -100% -100% $ 5,915,063,112.00
THR Thor Energy PLC 0.01 0% 0% -23% -50% -23% $ 7,818,688.19
CDR Codrus Minerals Ltd 0.034 0% 70% 89% -35% 100% $ 6,822,234.51
MDI Middle Island Res 0.023 28% 15% 53% 35% 92% $ 5,829,743.38
WTM Waratah Minerals Ltd 0.32 -6% 60% 78% 178% 106% $ 74,723,925.12
POL Polymetals Resources 0.83 0% -13% 9% 137% 4% $ 204,232,215.14
RDS Redstone Resources 0.005 -17% 0% 67% 25% 100% $ 4,626,892.30
NAG Nagambie Resources 0.016 -6% -27% -27% 33% -11% $ 12,451,186.33
BGL Bellevue Gold Ltd 0.99 9% 9% -23% -49% -12% $ 1,402,509,801.65
GBR Greatbould Resources 0.068 10% -13% 58% 15% 58% $ 50,955,702.69
KAI Kairos Minerals Ltd 0.025 -7% 25% 56% 108% 108% $ 68,403,716.91
KAU Kaiser Reef 0.185 16% 3% 16% 32% 16% $ 112,773,768.50
HRZ Horizon 0.046 -6% -23% 10% -6% 15% $ 98,603,570.84
CDT Castle Minerals 0.1 3% 72% 33% -44% 67% $ 11,020,909.15
RSG Resolute Mining 0.63 0% 26% 45% 15% 59% $ 1,298,720,507.93
EVN Evolution Mining Ltd 8.85 0% 11% 75% 125% 84% $ 17,741,073,651.76
CXU Cauldron Energy Ltd 0.008 17% 3% -47% -78% -32% $ 10,229,832.26
DLI Delta Lithium 0.18 -5% 0% -5% -39% 6% $ 128,977,522.56
ALY Alchemy Resource Ltd 0.006 0% 0% -14% -14% -14% $ 7,068,457.54
NH3 Nh3Cleanenergyltd 0.024 4% -8% 14% 33% 33% $ 13,550,514.84
OBM Ora Banda Mining Ltd 1.145 9% 8% 58% 242% 76% $ 2,006,178,447.02
AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,535,000.00
LCY Legacy Iron Ore 0.009 0% 13% -18% -38% -10% $ 87,858,383.26
PDI Predictive Disc Ltd 0.385 -8% 4% 57% 103% 67% $ 995,765,940.68
MAT Matsa Resources 0.068 3% 5% 66% 134% 94% $ 49,845,343.61
ZAG Zuleika Gold Ltd 0.012 9% 0% -25% -43% -8% $ 8,902,559.12
GML Gateway Mining 0.032 0% 7% 23% 60% 52% $ 12,673,429.15
SBM St Barbara Limited 0.33 5% 22% -3% 40% 47% $ 346,510,829.12
SBR Sabre Resources 0.008 0% 0% -33% -56% -20% $ 3,155,695.46
STK Strickland Metals 0.145 21% 56% 81% 38% 71% $ 316,730,371.58
CEL Challenger Gold Ltd 0.096 20% 19% 113% 39% 104% $ 153,836,336.20
GG8 Gorilla Gold Mines 0.5 -2% 10% 108% 1085% 92% $ 310,451,393.84
NST Northern Star 20.98 4% 6% 20% 46% 36% $ 29,042,393,017.67
OZM Ozaurum Resources 0.079 -6% -20% 139% 41% 163% $ 18,778,153.59
TG1 Techgen Metals Ltd 0.024 -4% 9% -23% -44% -31% $ 4,283,974.17
XAM Xanadu Mines Ltd 0.08 0% 33% 60% 21% 63% $ 181,005,683.93
AQI Alicanto Min Ltd 0.026 -4% -13% -28% 42% -30% $ 22,899,860.35
KTA Krakatoa Resources 0.01 0% 0% -9% -38% 5% $ 6,201,340.25
ARN Aldoro Resources 0.32 7% -38% 264% 316% -16% $ 56,058,088.28
WGX Westgold Resources. 3.04 7% 1% 7% 33% 7% $ 2,810,466,876.20
MBK Metal Bank Ltd 0.013 18% 8% -24% -40% -13% $ 6,466,966.97
A8G Australasian Metals 0.067 -8% -4% -13% -29% -15% $ 3,878,611.58
TAR Taruga Minerals 0.009 13% -10% -10% 0% -10% $ 6,423,786.52
DTR Dateline Resources 0.097 94% 978% 3133% 708% 2671% $ 262,956,020.95
GOR Gold Road Res Ltd 3.4 1% 11% 82% 105% 66% $ 3,617,708,869.80
S2R S2 Resources 0.09 0% -14% 29% -25% 34% $ 43,927,225.32
NES Nelson Resources. 0.0025 -17% 0% 25% -17% -17% $ 5,429,819.15
TLM Talisman Mining 0.145 0% 0% -31% -59% -29% $ 27,306,450.61
BEZ Besragoldinc 0.032 -14% -30% -50% -71% -64% $ 15,373,091.19
PRU Perseus Mining Ltd 3.89 4% 17% 47% 63% 51% $ 5,215,884,623.86
SPQ Superior Resources 0.004 0% -20% -50% -60% -33% $ 9,483,930.90
PUR Pursuit Minerals 0.041 3% -5% -59% -84% -57% $ 4,488,028.34
RMS Ramelius Resources 2.88 2% 13% 37% 51% 39% $ 3,279,812,674.64
PKO Peako Limited 0.003 20% 0% 0% -3% 0% $ 4,463,225.88
ICG Inca Minerals Ltd 0.005 11% 0% -17% -29% 0% $ 7,881,950.31
A1G African Gold Ltd. 0.165 38% 22% 200% 511% 200% $ 79,203,271.29
NMG New Murchison Gold 0.017 13% -6% 70% 278% 89% $ 157,613,601.71
GNM Great Northern 0.017 -15% 21% 21% 42% 21% $ 2,628,694.31
KRM Kingsrose Mining Ltd 0.03 -3% -9% -19% -36% -14% $ 23,359,322.09
BTR Brightstar Resources 0.59 -8% 19% -6% 57% 18% $ 271,732,046.40
RRL Regis Resources 5.06 1% 13% 98% 164% 98% $ 3,732,060,005.96
M24 Mamba Exploration 0.014 0% 8% 27% -30% 17% $ 4,132,318.54
TRM Truscott Mining Corp 0.065 0% 8% -13% 4% -17% $ 12,444,156.40
TNC True North Copper 0.325 2% 48% -89% -95% -89% $ 39,010,094.96
MOM Moab Minerals Ltd 0.001 0% -33% -67% -80% -50% $ 1,733,666.03
KNB Koonenberrygold 0.071 3% 6% 344% 255% 492% $ 69,679,088.57
AWJ Auric Mining 0.2 5% -22% -38% 14% -41% $ 36,266,314.89
ENR Encounter Resources 0.25 6% 32% -32% -32% -23% $ 117,216,194.97
SNG Siren Gold 0.058 21% 4% -3% -28% -11% $ 10,729,559.84
STN Saturn Metals 0.32 10% 0% 42% 36% 56% $ 142,494,668.82
USL Unico Silver Limited 0.245 4% 2% 20% 44% 26% $ 98,537,344.88
PNM Pacific Nickel Mines 0.024 0% 0% 0% -29% 0% $ 10,103,834.52
AYM Australia United Min 0.003 0% 50% 50% 50% -25% $ 5,527,732.46
HAV Havilah Resources 0.175 6% 0% -13% -22% -22% $ 62,762,414.76
SPR Spartan Resources 2.27 4% 13% 59% 191% 61% $ 2,819,444,282.60
PNT Panthermetalsltd 0.013 0% -24% -24% -60% 18% $ 3,610,854.58
MEK Meeka Metals Limited 0.145 0% -6% 91% 282% 88% $ 339,586,447.95
GMD Genesis Minerals 4.72 8% 20% 87% 147% 91% $ 5,106,279,708.00
PGO Pacgold 0.065 -14% -4% -23% -54% -13% $ 9,333,258.00
FEG Far East Gold 0.15 0% -3% -9% 15% -17% $ 56,889,255.22
MI6 Minerals260Limited 0.15 -6% 20% 11% -9% 15% $ 289,426,666.62
IGO IGO Limited 3.88 -6% 2% -20% -47% -19% $ 3,104,798,033.30
GAL Galileo Mining Ltd 0.105 -13% -5% -19% -57% -16% $ 21,738,741.97
RXL Rox Resources 0.3 0% -19% 94% 82% 50% $ 216,088,580.88
PTN Patronus Resources 0.057 -2% -10% -8% -7% 16% $ 94,969,072.63
CLZ Classic Min Ltd 0.001 0% 0% 0% -80% 0% $ 1,544,025.56
TGM Theta Gold Mines Ltd 0.12 -8% -11% -31% -20% -33% $ 101,134,291.99
FAL Falconmetalsltd 0.12 -8% 4% -14% -43% 4% $ 24,780,000.00
SPD Southernpalladium 0.415 32% 84% -41% -22% -31% $ 35,470,500.00
ORN Orion Minerals Ltd 0.012 0% 0% -20% -35% -20% $ 82,205,373.82
TMB Tambourahmetals 0.021 -13% -22% -19% -71% 0% $ 2,469,390.97
TMS Tennant Minerals Ltd 0.006 -14% -25% -45% -71% -33% $ 5,735,342.49
AZY Antipa Minerals Ltd 0.635 -2% 23% 176% 323% 144% $ 351,204,445.12
PXX Polarx Limited 0.008 14% 14% 0% -43% 23% $ 21,379,508.80
TRE Toubani Res Ltd 0.285 -10% 8% 58% 84% 68% $ 72,045,386.84
AUN Aurumin 0.082 22% 37% 44% 105% 24% $ 36,080,990.51
GPR Geopacific Resources 0.018 -10% -22% -19% -19% -10% $ 57,284,375.87
FXG Felix Gold Limited 0.14 4% -15% 106% 133% 67% $ 59,587,430.42
ILT Iltani Resources Lim 0.22 -2% -19% 47% -28% 7% $ 9,982,720.35
BRX Belararoxlimited 0.094 -22% 13% -49% -57% -46% $ 14,988,983.15
TM1 Terra Metals Limited 0.039 39% 34% 26% -13% 39% $ 14,944,862.23
TOR Torque Met 0.135 17% 41% 170% -33% 155% $ 35,056,310.38
ARD Argent Minerals 0.021 0% -9% 11% -5% 24% $ 30,358,450.08
LM1 Leeuwin Metals Ltd 0.135 -4% -27% 85% 85% -4% $ 13,608,861.84
SX2 Southgold Consol 6.47 11% 16% 0% 0% 0% $ 889,710,601.70
UVA Uvrelimited 0.092 -8% -2% -5% -26% 3% $ 5,538,400.09
Focus Minerals (ASX:FML)
Shandong Gold's Focus finally returned to investors' good books, charging higher after nabbing $250 million in cash from Raleigh Finlayson's Genesis Minerals (ASX:GMD) for its ~4Moz Laverton gold project.
It comes over a decade since the project was shuttered during a gold price crunch.
Now, with bullion at record highs, the assets have proven an attractive target for Genesis as it looks for additional feed it can send to the Laverton plant acquired from Dacian Gold across 2023 and 2024.
That opens the potential to mine its Tower Hill project near the Gwalia mine and send the ore to an expanded Leonora mill, a more logical haulage solution.
Focus meanwhile will be zeroing in on the ramp up of its Coolgardie gold operations and shift from a hefty net debt position to net cash.
Dateline Resources (ASX:DTR)
Dateline is up a quite ludicrous 870% to a market cap of $286m over the past month, much of that growth since a shoutout from Donald Trump on his Truth Social platform got investors excited.
DTR owns the 1.1Moz Colosseum gold project, where Trump also highlighted the company's rare earths potential, sitting as it does just a few klicks from the Mountain Pass mine.
One of the key triggers for DTR this week was an updated scoping study based around a gold price estimate lifted from US$2200/oz in a study compiled in October last year to US$2900/oz.
With annual gold production unchanged at 71,000ozpa, that would lift net revenue before tax by 208%from US$398m to US$827m and ups the project's IRR from 31% to 61%.
Before tax discounted cashflow would rise 234% to US$550m.
G50 Corp (ASX:G50)
G50 has surged higher over the past week with little market news to pinpoint for the gains.
The company owns the Golconda project in Arizona, the site of the state's largest zinc-lead mine over 100 years ago.
It's found a high-grade gallium halo at that flagship asset, which has brought the project into focus since China initiated export controls on the critical mineral back in 2023 and led to discussions over the strategic nature of the asset with the US Government.
Renegade Exploration (ASX:RNX) in a nil-consideration deal.
G50 MD Mark Wallace is a non-exec director of RNX.
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Softy, softly response to Trump's hard line on steel
Australia will not retaliate despite Donald Trump's "wrong" tariff hike decision on steel imports. Mr Trump plans to increase tariffs on foreign steel from 25 to 50 per cent to "further secure the steel industry in the United States". The move could impact 100,000 Australian jobs, with the sector exporting more than $414 million worth of products to the US in 2024. Trade Minister Don Farrell is calling on the Trump administration to reverse the decision and drop all tariffs on Australian steel and aluminium. "This will simply push up the price for consumers in the United States and do nothing for the prosperity of both of our nations," he told reporters on Saturday. Mr Farrell said the government would work with the US but reiterate the view that tariffs were "the wrong course of action" and "don't do what President Trump claims they will do". "We don't believe that retaliation is the right way to go here," he said. "We're going to cooly and calmly argue our case for the removal of these tariffs." Opposition trade spokesman Kevin Hogan said Mr Trump's call was concerning for Australian jobs. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The industry's peak body says it will continue to work with the federal government to push for an exemption from the Trump administration. "The subsequent disruptions to global steel trade could see Australia become a dumping ground for imported steel," Australian Steel Institute chief executive Mark Cain said. "And it could exacerbate the surge in imported low-priced steel that is damaging the industry." It took Australia nine months of lobbying before it secured a tariff exemption during Mr Trump's first administration. The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. The latest tariff hike comes after a US federal court blocked the president's Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration has launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Australia will not retaliate despite Donald Trump's "wrong" tariff hike decision on steel imports. Mr Trump plans to increase tariffs on foreign steel from 25 to 50 per cent to "further secure the steel industry in the United States". The move could impact 100,000 Australian jobs, with the sector exporting more than $414 million worth of products to the US in 2024. Trade Minister Don Farrell is calling on the Trump administration to reverse the decision and drop all tariffs on Australian steel and aluminium. "This will simply push up the price for consumers in the United States and do nothing for the prosperity of both of our nations," he told reporters on Saturday. Mr Farrell said the government would work with the US but reiterate the view that tariffs were "the wrong course of action" and "don't do what President Trump claims they will do". "We don't believe that retaliation is the right way to go here," he said. "We're going to cooly and calmly argue our case for the removal of these tariffs." Opposition trade spokesman Kevin Hogan said Mr Trump's call was concerning for Australian jobs. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The industry's peak body says it will continue to work with the federal government to push for an exemption from the Trump administration. "The subsequent disruptions to global steel trade could see Australia become a dumping ground for imported steel," Australian Steel Institute chief executive Mark Cain said. "And it could exacerbate the surge in imported low-priced steel that is damaging the industry." It took Australia nine months of lobbying before it secured a tariff exemption during Mr Trump's first administration. The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. The latest tariff hike comes after a US federal court blocked the president's Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration has launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Australia will not retaliate despite Donald Trump's "wrong" tariff hike decision on steel imports. Mr Trump plans to increase tariffs on foreign steel from 25 to 50 per cent to "further secure the steel industry in the United States". The move could impact 100,000 Australian jobs, with the sector exporting more than $414 million worth of products to the US in 2024. Trade Minister Don Farrell is calling on the Trump administration to reverse the decision and drop all tariffs on Australian steel and aluminium. "This will simply push up the price for consumers in the United States and do nothing for the prosperity of both of our nations," he told reporters on Saturday. Mr Farrell said the government would work with the US but reiterate the view that tariffs were "the wrong course of action" and "don't do what President Trump claims they will do". "We don't believe that retaliation is the right way to go here," he said. "We're going to cooly and calmly argue our case for the removal of these tariffs." Opposition trade spokesman Kevin Hogan said Mr Trump's call was concerning for Australian jobs. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The industry's peak body says it will continue to work with the federal government to push for an exemption from the Trump administration. "The subsequent disruptions to global steel trade could see Australia become a dumping ground for imported steel," Australian Steel Institute chief executive Mark Cain said. "And it could exacerbate the surge in imported low-priced steel that is damaging the industry." It took Australia nine months of lobbying before it secured a tariff exemption during Mr Trump's first administration. The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. The latest tariff hike comes after a US federal court blocked the president's Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration has launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Australia will not retaliate despite Donald Trump's "wrong" tariff hike decision on steel imports. Mr Trump plans to increase tariffs on foreign steel from 25 to 50 per cent to "further secure the steel industry in the United States". The move could impact 100,000 Australian jobs, with the sector exporting more than $414 million worth of products to the US in 2024. Trade Minister Don Farrell is calling on the Trump administration to reverse the decision and drop all tariffs on Australian steel and aluminium. "This will simply push up the price for consumers in the United States and do nothing for the prosperity of both of our nations," he told reporters on Saturday. Mr Farrell said the government would work with the US but reiterate the view that tariffs were "the wrong course of action" and "don't do what President Trump claims they will do". "We don't believe that retaliation is the right way to go here," he said. "We're going to cooly and calmly argue our case for the removal of these tariffs." Opposition trade spokesman Kevin Hogan said Mr Trump's call was concerning for Australian jobs. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The industry's peak body says it will continue to work with the federal government to push for an exemption from the Trump administration. "The subsequent disruptions to global steel trade could see Australia become a dumping ground for imported steel," Australian Steel Institute chief executive Mark Cain said. "And it could exacerbate the surge in imported low-priced steel that is damaging the industry." It took Australia nine months of lobbying before it secured a tariff exemption during Mr Trump's first administration. The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. The latest tariff hike comes after a US federal court blocked the president's Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration has launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency".
The Advertiser
40 minutes ago
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Hamas seeks amendments to US ceasefire proposal
Hamas has responded to the latest US ceasefire proposal for Gaza, and a senior official with the group says they are seeking some changes, as desperation rises inside Gaza from the aid blockade. Israeli officials have approved the US proposal for a temporary ceasefire in the nearly 20-month war. US President Donald Trump has said negotiators were nearing a deal. "There are some notes and amendments to some points, especially on the US guarantees, the timing of hostage release, the delivery of aid and the withdrawal of Israeli forces," the official said, speaking on condition of anonymity due to the sensitivity of the talks. A separate Hamas statement said the proposal aims for a permanent ceasefire, a comprehensive Israeli withdrawal from Gaza and an ensured flow of aid. It said 10 living hostages and the bodies of 18 others would be released " in exchange for an agreed-upon number of Palestinian prisoners". A ceasefire would pause the fighting for 60 days, release some of the 58 hostages still held in Gaza in exchange for Palestinian prisoners and much-needed food aid and other assistance, according to Hamas and Egyptian officials who spoke on condition of anonymity because they were not authorised to talk to the media. As hopes for a ceasefire ramp up, desperation rises inside Gaza. Palestinians in the Gaza Strip blocked and offloaded dozens of food trucks, the UN World Food Program says, as desperation mounts following Israel's months-long aid blockade while talks of a ceasefire inch forward. The World Food Program said 77 trucks carrying aid, mostly flour, were stopped by hungry people who took the food before the trucks could reach their destination. The nearly three-month Israeli aid blockade on Gaza has pushed the population of over two million to the brink of famine. The World Food Program said the fear of starvation in Gaza is high despite the aid that's entering now. "We need to flood communities with food for the next few days to calm anxieties and rebuild the trust with communities that more food is coming," it said in a statement, adding that it has over 140,000 metric tons of food, enough to feed Gazans for two months, ready to be brought in. Most people carried bags of flour. He said at one point a forklift was used to offload pallets. The UN says it has been unable to get enough aid in because of fighting. A new US and Israeli-backed foundation started operations in Gaza this week, distributing food at several sites in a chaotic rollout. Israel says the Gaza Humanitarian Foundation eventually will replace the aid operation that the UN and others have carried out during nearly 20 months of war. It says the new mechanism is necessary, accusing Hamas of siphoning off large amounts of aid. The UN denies that a significant diversion takes place. The Gaza Humanitarian Foundation works with armed contractors, which it says are needed to distribute food safely. Aid groups have accused the foundation of militarising aid. Israel continued its military campaign across Gaza, saying it struck dozens of targets over the past day. Gaza's Health Ministry said at least 60 people were killed by Israeli strikes in the past 24 hours. The war began when Hamas attacked Israel on October 7, 2023, killing around 1200 people, most of them civilians, and taking 250 hostages. Of those taken captive, 58 remain in Gaza. Israel believes 35 are dead and Prime Minister Benjamin Netanyahu has said there are doubts about the fate of several others. Israeli strikes have killed more than 54,000 Gaza residents, mostly women and children, according to Gaza's Health Ministry, which does not distinguish between civilians and combatants in its tally. Hamas has responded to the latest US ceasefire proposal for Gaza, and a senior official with the group says they are seeking some changes, as desperation rises inside Gaza from the aid blockade. Israeli officials have approved the US proposal for a temporary ceasefire in the nearly 20-month war. US President Donald Trump has said negotiators were nearing a deal. "There are some notes and amendments to some points, especially on the US guarantees, the timing of hostage release, the delivery of aid and the withdrawal of Israeli forces," the official said, speaking on condition of anonymity due to the sensitivity of the talks. A separate Hamas statement said the proposal aims for a permanent ceasefire, a comprehensive Israeli withdrawal from Gaza and an ensured flow of aid. It said 10 living hostages and the bodies of 18 others would be released " in exchange for an agreed-upon number of Palestinian prisoners". A ceasefire would pause the fighting for 60 days, release some of the 58 hostages still held in Gaza in exchange for Palestinian prisoners and much-needed food aid and other assistance, according to Hamas and Egyptian officials who spoke on condition of anonymity because they were not authorised to talk to the media. As hopes for a ceasefire ramp up, desperation rises inside Gaza. Palestinians in the Gaza Strip blocked and offloaded dozens of food trucks, the UN World Food Program says, as desperation mounts following Israel's months-long aid blockade while talks of a ceasefire inch forward. The World Food Program said 77 trucks carrying aid, mostly flour, were stopped by hungry people who took the food before the trucks could reach their destination. The nearly three-month Israeli aid blockade on Gaza has pushed the population of over two million to the brink of famine. The World Food Program said the fear of starvation in Gaza is high despite the aid that's entering now. "We need to flood communities with food for the next few days to calm anxieties and rebuild the trust with communities that more food is coming," it said in a statement, adding that it has over 140,000 metric tons of food, enough to feed Gazans for two months, ready to be brought in. Most people carried bags of flour. He said at one point a forklift was used to offload pallets. The UN says it has been unable to get enough aid in because of fighting. A new US and Israeli-backed foundation started operations in Gaza this week, distributing food at several sites in a chaotic rollout. Israel says the Gaza Humanitarian Foundation eventually will replace the aid operation that the UN and others have carried out during nearly 20 months of war. It says the new mechanism is necessary, accusing Hamas of siphoning off large amounts of aid. The UN denies that a significant diversion takes place. The Gaza Humanitarian Foundation works with armed contractors, which it says are needed to distribute food safely. Aid groups have accused the foundation of militarising aid. Israel continued its military campaign across Gaza, saying it struck dozens of targets over the past day. Gaza's Health Ministry said at least 60 people were killed by Israeli strikes in the past 24 hours. The war began when Hamas attacked Israel on October 7, 2023, killing around 1200 people, most of them civilians, and taking 250 hostages. Of those taken captive, 58 remain in Gaza. Israel believes 35 are dead and Prime Minister Benjamin Netanyahu has said there are doubts about the fate of several others. Israeli strikes have killed more than 54,000 Gaza residents, mostly women and children, according to Gaza's Health Ministry, which does not distinguish between civilians and combatants in its tally. Hamas has responded to the latest US ceasefire proposal for Gaza, and a senior official with the group says they are seeking some changes, as desperation rises inside Gaza from the aid blockade. Israeli officials have approved the US proposal for a temporary ceasefire in the nearly 20-month war. US President Donald Trump has said negotiators were nearing a deal. "There are some notes and amendments to some points, especially on the US guarantees, the timing of hostage release, the delivery of aid and the withdrawal of Israeli forces," the official said, speaking on condition of anonymity due to the sensitivity of the talks. A separate Hamas statement said the proposal aims for a permanent ceasefire, a comprehensive Israeli withdrawal from Gaza and an ensured flow of aid. It said 10 living hostages and the bodies of 18 others would be released " in exchange for an agreed-upon number of Palestinian prisoners". A ceasefire would pause the fighting for 60 days, release some of the 58 hostages still held in Gaza in exchange for Palestinian prisoners and much-needed food aid and other assistance, according to Hamas and Egyptian officials who spoke on condition of anonymity because they were not authorised to talk to the media. As hopes for a ceasefire ramp up, desperation rises inside Gaza. Palestinians in the Gaza Strip blocked and offloaded dozens of food trucks, the UN World Food Program says, as desperation mounts following Israel's months-long aid blockade while talks of a ceasefire inch forward. The World Food Program said 77 trucks carrying aid, mostly flour, were stopped by hungry people who took the food before the trucks could reach their destination. The nearly three-month Israeli aid blockade on Gaza has pushed the population of over two million to the brink of famine. The World Food Program said the fear of starvation in Gaza is high despite the aid that's entering now. "We need to flood communities with food for the next few days to calm anxieties and rebuild the trust with communities that more food is coming," it said in a statement, adding that it has over 140,000 metric tons of food, enough to feed Gazans for two months, ready to be brought in. Most people carried bags of flour. He said at one point a forklift was used to offload pallets. The UN says it has been unable to get enough aid in because of fighting. A new US and Israeli-backed foundation started operations in Gaza this week, distributing food at several sites in a chaotic rollout. Israel says the Gaza Humanitarian Foundation eventually will replace the aid operation that the UN and others have carried out during nearly 20 months of war. It says the new mechanism is necessary, accusing Hamas of siphoning off large amounts of aid. The UN denies that a significant diversion takes place. The Gaza Humanitarian Foundation works with armed contractors, which it says are needed to distribute food safely. Aid groups have accused the foundation of militarising aid. Israel continued its military campaign across Gaza, saying it struck dozens of targets over the past day. Gaza's Health Ministry said at least 60 people were killed by Israeli strikes in the past 24 hours. The war began when Hamas attacked Israel on October 7, 2023, killing around 1200 people, most of them civilians, and taking 250 hostages. Of those taken captive, 58 remain in Gaza. Israel believes 35 are dead and Prime Minister Benjamin Netanyahu has said there are doubts about the fate of several others. Israeli strikes have killed more than 54,000 Gaza residents, mostly women and children, according to Gaza's Health Ministry, which does not distinguish between civilians and combatants in its tally. Hamas has responded to the latest US ceasefire proposal for Gaza, and a senior official with the group says they are seeking some changes, as desperation rises inside Gaza from the aid blockade. Israeli officials have approved the US proposal for a temporary ceasefire in the nearly 20-month war. US President Donald Trump has said negotiators were nearing a deal. "There are some notes and amendments to some points, especially on the US guarantees, the timing of hostage release, the delivery of aid and the withdrawal of Israeli forces," the official said, speaking on condition of anonymity due to the sensitivity of the talks. A separate Hamas statement said the proposal aims for a permanent ceasefire, a comprehensive Israeli withdrawal from Gaza and an ensured flow of aid. It said 10 living hostages and the bodies of 18 others would be released " in exchange for an agreed-upon number of Palestinian prisoners". A ceasefire would pause the fighting for 60 days, release some of the 58 hostages still held in Gaza in exchange for Palestinian prisoners and much-needed food aid and other assistance, according to Hamas and Egyptian officials who spoke on condition of anonymity because they were not authorised to talk to the media. As hopes for a ceasefire ramp up, desperation rises inside Gaza. Palestinians in the Gaza Strip blocked and offloaded dozens of food trucks, the UN World Food Program says, as desperation mounts following Israel's months-long aid blockade while talks of a ceasefire inch forward. The World Food Program said 77 trucks carrying aid, mostly flour, were stopped by hungry people who took the food before the trucks could reach their destination. The nearly three-month Israeli aid blockade on Gaza has pushed the population of over two million to the brink of famine. The World Food Program said the fear of starvation in Gaza is high despite the aid that's entering now. "We need to flood communities with food for the next few days to calm anxieties and rebuild the trust with communities that more food is coming," it said in a statement, adding that it has over 140,000 metric tons of food, enough to feed Gazans for two months, ready to be brought in. Most people carried bags of flour. He said at one point a forklift was used to offload pallets. The UN says it has been unable to get enough aid in because of fighting. A new US and Israeli-backed foundation started operations in Gaza this week, distributing food at several sites in a chaotic rollout. Israel says the Gaza Humanitarian Foundation eventually will replace the aid operation that the UN and others have carried out during nearly 20 months of war. It says the new mechanism is necessary, accusing Hamas of siphoning off large amounts of aid. The UN denies that a significant diversion takes place. The Gaza Humanitarian Foundation works with armed contractors, which it says are needed to distribute food safely. Aid groups have accused the foundation of militarising aid. Israel continued its military campaign across Gaza, saying it struck dozens of targets over the past day. Gaza's Health Ministry said at least 60 people were killed by Israeli strikes in the past 24 hours. The war began when Hamas attacked Israel on October 7, 2023, killing around 1200 people, most of them civilians, and taking 250 hostages. Of those taken captive, 58 remain in Gaza. Israel believes 35 are dead and Prime Minister Benjamin Netanyahu has said there are doubts about the fate of several others. Israeli strikes have killed more than 54,000 Gaza residents, mostly women and children, according to Gaza's Health Ministry, which does not distinguish between civilians and combatants in its tally.
The Advertiser
40 minutes ago
- The Advertiser
Bad hair day: US tariffs hit black women's braids, wigs
Before the oppressive summer heat descends on Atlanta, therapist Brittanee Sims usually gets her thick, curly hair braided at a salon. But it's more expensive this year. So she'll only pay for her teenage daughter and son to get their summer hairdos. Now, she said, she has to "go home and figure out what I'm gonna do to my hair in the morning, after I went to the gym and it's messed up with sweating and frizz". President Donald Trump's tariffs are driving up prices for products many black women consider essential, squeezing shoppers and stylists even more as they grapple with inflation and higher rents. Much of the synthetic braiding hair, human hair for extensions, wigs and weaves, styling tools, braiding gel and other products are imported from China, which was subject to a combined 145 per cent tariff in April. Many black women have hair types and workplace-favoured styles that require careful attention, and they can spend hundreds of dollars at salons each month on extensions, weaves, wigs and braids. On Thursday, a federal appeals court reinstated most of Trump's tariffs on imported goods after they were blocked the day before by a three-judge panel of the US Court of International Trade. Earlier this month, the United States agreed to drop the 145 per cent tax on goods imported from China to 30 per cent while the two economic superpowers negotiate new trade agreements. Imports from most other countries face baseline tariff rates at 10 per cent. Regardless, the next few months "are already shot" for many items, said Marty Parker, a University of Georgia business professor and supply chain expert who worked in the hair care industry. The costs companies have been facing at ports are making their way down to consumers, supply shortages are getting worse, and it's unclear what will happen if negotiations break down. "Prices go up very fast and come down very slow," Parker said. Some stylists said they're seeing fewer clients because prices are going up for virtually everything. Atlanta stylists are paying more for hair from China. Atlanta stylist Yana Ellis, who also sells products like wigs, paid an extra $US245 ($A381) in shipping for 52 bundles of hair in March compared to 40 bundles in December. AaNiyah Butler said her shipping costs for human hair more than doubled from February to May. And Dajiah Blackshear found in early May that a beauty supply store raised the cost of the kind of hair she's used for years by $US100 ($A155). The store owner said he may have to stop selling that brand of hair because it went up so much. Similarly, some wholesale hair stores have seen higher costs or are expecting them in the coming weeks. Even the typical $US6 ($A9.3) to $US10 ($A16) cost of a pack of synthetic hair has crept up. Blackshear doesn't want clients to bring hair because she likes to vet the quality. But if expenses continue to mount, she may have to raise her prices. "It's going to be extremely difficult," she said, especially for clients who are "having to make those hard decisions, between 'do I get my hair done or do I pay my bills?'" Janice Lowe, who runs 5 Starr Salon in a lower-income neighbourhood southeast of Atlanta, has started asking clients to bring hair and is unable to purchase certain products. "I'm falling behind on my obligations," she said. Consultants vary on how much prices will rise, when they'll go up and for how long — and the full harm to stylists and consumers could be months away. The global black hair care industry was worth about $US3.2 billion ($A5.0 billion) in 2023, according to and black women spend six times more on hair care than other ethnicities. Stylists often purchase some harder-to-get professional products from door-to-door distributors that buy from wholesale companies or larger distributors that purchase directly from other countries. Lowe has seen some of her distributors vanish altogether, making it harder to get professional lines such as black-owned leading professional hair care brand Design Essentials, manufactured in Atlanta at McBride Research Laboratories. Design Essentials is trying to delay big price increases until 2026 or 2027, and may turn to layoffs or pause promotions to save money, said president Cornell McBride Jr. "Nobody wants to put it to the consumer but the person who pays is the consumer in the end," McBride Jr. said. Hawa Keita and her mother usually charge customers between $US160 ($A249) and $US250 ($A389) for braiding at their shop, Eve's African Hair Braiding in College Park southwest of Atlanta. Keita is determined to take losses because their customers "can't afford the Atlanta prices," Keita said. The cost of a box of 100 packs of braiding hair from China went up for the first time in two years, from $US250 ($A389) to $US300 ($A466), Keita said. They order weekly, often multiple boxes. Some companies say they'll soon raise prices or run out of stock. Making customers happy is ultimately what will keep the business afloat, Keita said. She smiled as she recounted braiding a young woman's hair for her birthday with a style she suggested. "When we finished, she gave me the biggest hug, and she was in here screaming and just yelling because she just really loved her hair," Keita said. Before the oppressive summer heat descends on Atlanta, therapist Brittanee Sims usually gets her thick, curly hair braided at a salon. But it's more expensive this year. So she'll only pay for her teenage daughter and son to get their summer hairdos. Now, she said, she has to "go home and figure out what I'm gonna do to my hair in the morning, after I went to the gym and it's messed up with sweating and frizz". President Donald Trump's tariffs are driving up prices for products many black women consider essential, squeezing shoppers and stylists even more as they grapple with inflation and higher rents. Much of the synthetic braiding hair, human hair for extensions, wigs and weaves, styling tools, braiding gel and other products are imported from China, which was subject to a combined 145 per cent tariff in April. Many black women have hair types and workplace-favoured styles that require careful attention, and they can spend hundreds of dollars at salons each month on extensions, weaves, wigs and braids. On Thursday, a federal appeals court reinstated most of Trump's tariffs on imported goods after they were blocked the day before by a three-judge panel of the US Court of International Trade. Earlier this month, the United States agreed to drop the 145 per cent tax on goods imported from China to 30 per cent while the two economic superpowers negotiate new trade agreements. Imports from most other countries face baseline tariff rates at 10 per cent. Regardless, the next few months "are already shot" for many items, said Marty Parker, a University of Georgia business professor and supply chain expert who worked in the hair care industry. The costs companies have been facing at ports are making their way down to consumers, supply shortages are getting worse, and it's unclear what will happen if negotiations break down. "Prices go up very fast and come down very slow," Parker said. Some stylists said they're seeing fewer clients because prices are going up for virtually everything. Atlanta stylists are paying more for hair from China. Atlanta stylist Yana Ellis, who also sells products like wigs, paid an extra $US245 ($A381) in shipping for 52 bundles of hair in March compared to 40 bundles in December. AaNiyah Butler said her shipping costs for human hair more than doubled from February to May. And Dajiah Blackshear found in early May that a beauty supply store raised the cost of the kind of hair she's used for years by $US100 ($A155). The store owner said he may have to stop selling that brand of hair because it went up so much. Similarly, some wholesale hair stores have seen higher costs or are expecting them in the coming weeks. Even the typical $US6 ($A9.3) to $US10 ($A16) cost of a pack of synthetic hair has crept up. Blackshear doesn't want clients to bring hair because she likes to vet the quality. But if expenses continue to mount, she may have to raise her prices. "It's going to be extremely difficult," she said, especially for clients who are "having to make those hard decisions, between 'do I get my hair done or do I pay my bills?'" Janice Lowe, who runs 5 Starr Salon in a lower-income neighbourhood southeast of Atlanta, has started asking clients to bring hair and is unable to purchase certain products. "I'm falling behind on my obligations," she said. Consultants vary on how much prices will rise, when they'll go up and for how long — and the full harm to stylists and consumers could be months away. The global black hair care industry was worth about $US3.2 billion ($A5.0 billion) in 2023, according to and black women spend six times more on hair care than other ethnicities. Stylists often purchase some harder-to-get professional products from door-to-door distributors that buy from wholesale companies or larger distributors that purchase directly from other countries. Lowe has seen some of her distributors vanish altogether, making it harder to get professional lines such as black-owned leading professional hair care brand Design Essentials, manufactured in Atlanta at McBride Research Laboratories. Design Essentials is trying to delay big price increases until 2026 or 2027, and may turn to layoffs or pause promotions to save money, said president Cornell McBride Jr. "Nobody wants to put it to the consumer but the person who pays is the consumer in the end," McBride Jr. said. Hawa Keita and her mother usually charge customers between $US160 ($A249) and $US250 ($A389) for braiding at their shop, Eve's African Hair Braiding in College Park southwest of Atlanta. Keita is determined to take losses because their customers "can't afford the Atlanta prices," Keita said. The cost of a box of 100 packs of braiding hair from China went up for the first time in two years, from $US250 ($A389) to $US300 ($A466), Keita said. They order weekly, often multiple boxes. Some companies say they'll soon raise prices or run out of stock. Making customers happy is ultimately what will keep the business afloat, Keita said. She smiled as she recounted braiding a young woman's hair for her birthday with a style she suggested. "When we finished, she gave me the biggest hug, and she was in here screaming and just yelling because she just really loved her hair," Keita said. Before the oppressive summer heat descends on Atlanta, therapist Brittanee Sims usually gets her thick, curly hair braided at a salon. But it's more expensive this year. So she'll only pay for her teenage daughter and son to get their summer hairdos. Now, she said, she has to "go home and figure out what I'm gonna do to my hair in the morning, after I went to the gym and it's messed up with sweating and frizz". President Donald Trump's tariffs are driving up prices for products many black women consider essential, squeezing shoppers and stylists even more as they grapple with inflation and higher rents. Much of the synthetic braiding hair, human hair for extensions, wigs and weaves, styling tools, braiding gel and other products are imported from China, which was subject to a combined 145 per cent tariff in April. Many black women have hair types and workplace-favoured styles that require careful attention, and they can spend hundreds of dollars at salons each month on extensions, weaves, wigs and braids. On Thursday, a federal appeals court reinstated most of Trump's tariffs on imported goods after they were blocked the day before by a three-judge panel of the US Court of International Trade. Earlier this month, the United States agreed to drop the 145 per cent tax on goods imported from China to 30 per cent while the two economic superpowers negotiate new trade agreements. Imports from most other countries face baseline tariff rates at 10 per cent. Regardless, the next few months "are already shot" for many items, said Marty Parker, a University of Georgia business professor and supply chain expert who worked in the hair care industry. The costs companies have been facing at ports are making their way down to consumers, supply shortages are getting worse, and it's unclear what will happen if negotiations break down. "Prices go up very fast and come down very slow," Parker said. Some stylists said they're seeing fewer clients because prices are going up for virtually everything. Atlanta stylists are paying more for hair from China. Atlanta stylist Yana Ellis, who also sells products like wigs, paid an extra $US245 ($A381) in shipping for 52 bundles of hair in March compared to 40 bundles in December. AaNiyah Butler said her shipping costs for human hair more than doubled from February to May. And Dajiah Blackshear found in early May that a beauty supply store raised the cost of the kind of hair she's used for years by $US100 ($A155). The store owner said he may have to stop selling that brand of hair because it went up so much. Similarly, some wholesale hair stores have seen higher costs or are expecting them in the coming weeks. Even the typical $US6 ($A9.3) to $US10 ($A16) cost of a pack of synthetic hair has crept up. Blackshear doesn't want clients to bring hair because she likes to vet the quality. But if expenses continue to mount, she may have to raise her prices. "It's going to be extremely difficult," she said, especially for clients who are "having to make those hard decisions, between 'do I get my hair done or do I pay my bills?'" Janice Lowe, who runs 5 Starr Salon in a lower-income neighbourhood southeast of Atlanta, has started asking clients to bring hair and is unable to purchase certain products. "I'm falling behind on my obligations," she said. Consultants vary on how much prices will rise, when they'll go up and for how long — and the full harm to stylists and consumers could be months away. The global black hair care industry was worth about $US3.2 billion ($A5.0 billion) in 2023, according to and black women spend six times more on hair care than other ethnicities. Stylists often purchase some harder-to-get professional products from door-to-door distributors that buy from wholesale companies or larger distributors that purchase directly from other countries. Lowe has seen some of her distributors vanish altogether, making it harder to get professional lines such as black-owned leading professional hair care brand Design Essentials, manufactured in Atlanta at McBride Research Laboratories. Design Essentials is trying to delay big price increases until 2026 or 2027, and may turn to layoffs or pause promotions to save money, said president Cornell McBride Jr. "Nobody wants to put it to the consumer but the person who pays is the consumer in the end," McBride Jr. said. Hawa Keita and her mother usually charge customers between $US160 ($A249) and $US250 ($A389) for braiding at their shop, Eve's African Hair Braiding in College Park southwest of Atlanta. Keita is determined to take losses because their customers "can't afford the Atlanta prices," Keita said. The cost of a box of 100 packs of braiding hair from China went up for the first time in two years, from $US250 ($A389) to $US300 ($A466), Keita said. They order weekly, often multiple boxes. Some companies say they'll soon raise prices or run out of stock. Making customers happy is ultimately what will keep the business afloat, Keita said. She smiled as she recounted braiding a young woman's hair for her birthday with a style she suggested. "When we finished, she gave me the biggest hug, and she was in here screaming and just yelling because she just really loved her hair," Keita said. Before the oppressive summer heat descends on Atlanta, therapist Brittanee Sims usually gets her thick, curly hair braided at a salon. But it's more expensive this year. So she'll only pay for her teenage daughter and son to get their summer hairdos. Now, she said, she has to "go home and figure out what I'm gonna do to my hair in the morning, after I went to the gym and it's messed up with sweating and frizz". President Donald Trump's tariffs are driving up prices for products many black women consider essential, squeezing shoppers and stylists even more as they grapple with inflation and higher rents. Much of the synthetic braiding hair, human hair for extensions, wigs and weaves, styling tools, braiding gel and other products are imported from China, which was subject to a combined 145 per cent tariff in April. Many black women have hair types and workplace-favoured styles that require careful attention, and they can spend hundreds of dollars at salons each month on extensions, weaves, wigs and braids. On Thursday, a federal appeals court reinstated most of Trump's tariffs on imported goods after they were blocked the day before by a three-judge panel of the US Court of International Trade. Earlier this month, the United States agreed to drop the 145 per cent tax on goods imported from China to 30 per cent while the two economic superpowers negotiate new trade agreements. Imports from most other countries face baseline tariff rates at 10 per cent. Regardless, the next few months "are already shot" for many items, said Marty Parker, a University of Georgia business professor and supply chain expert who worked in the hair care industry. The costs companies have been facing at ports are making their way down to consumers, supply shortages are getting worse, and it's unclear what will happen if negotiations break down. "Prices go up very fast and come down very slow," Parker said. Some stylists said they're seeing fewer clients because prices are going up for virtually everything. Atlanta stylists are paying more for hair from China. Atlanta stylist Yana Ellis, who also sells products like wigs, paid an extra $US245 ($A381) in shipping for 52 bundles of hair in March compared to 40 bundles in December. AaNiyah Butler said her shipping costs for human hair more than doubled from February to May. And Dajiah Blackshear found in early May that a beauty supply store raised the cost of the kind of hair she's used for years by $US100 ($A155). The store owner said he may have to stop selling that brand of hair because it went up so much. Similarly, some wholesale hair stores have seen higher costs or are expecting them in the coming weeks. Even the typical $US6 ($A9.3) to $US10 ($A16) cost of a pack of synthetic hair has crept up. Blackshear doesn't want clients to bring hair because she likes to vet the quality. But if expenses continue to mount, she may have to raise her prices. "It's going to be extremely difficult," she said, especially for clients who are "having to make those hard decisions, between 'do I get my hair done or do I pay my bills?'" Janice Lowe, who runs 5 Starr Salon in a lower-income neighbourhood southeast of Atlanta, has started asking clients to bring hair and is unable to purchase certain products. "I'm falling behind on my obligations," she said. Consultants vary on how much prices will rise, when they'll go up and for how long — and the full harm to stylists and consumers could be months away. The global black hair care industry was worth about $US3.2 billion ($A5.0 billion) in 2023, according to and black women spend six times more on hair care than other ethnicities. Stylists often purchase some harder-to-get professional products from door-to-door distributors that buy from wholesale companies or larger distributors that purchase directly from other countries. Lowe has seen some of her distributors vanish altogether, making it harder to get professional lines such as black-owned leading professional hair care brand Design Essentials, manufactured in Atlanta at McBride Research Laboratories. Design Essentials is trying to delay big price increases until 2026 or 2027, and may turn to layoffs or pause promotions to save money, said president Cornell McBride Jr. "Nobody wants to put it to the consumer but the person who pays is the consumer in the end," McBride Jr. said. Hawa Keita and her mother usually charge customers between $US160 ($A249) and $US250 ($A389) for braiding at their shop, Eve's African Hair Braiding in College Park southwest of Atlanta. Keita is determined to take losses because their customers "can't afford the Atlanta prices," Keita said. The cost of a box of 100 packs of braiding hair from China went up for the first time in two years, from $US250 ($A389) to $US300 ($A466), Keita said. They order weekly, often multiple boxes. Some companies say they'll soon raise prices or run out of stock. Making customers happy is ultimately what will keep the business afloat, Keita said. She smiled as she recounted braiding a young woman's hair for her birthday with a style she suggested. "When we finished, she gave me the biggest hug, and she was in here screaming and just yelling because she just really loved her hair," Keita said.
