Cuts at Ontario colleges leading to nearly 10,000 job losses, union says
The union representing some 55,000 college faculty and support staff says that amounts to "one of the largest mass layoffs in Ontario's history" as colleges grapple with a funding crisis.
An arbitrated faculty contract between the union and the College Employer Council released last week says the federal government's cap on international students led to a dramatic decline in enrolment and tuition revenue, and the cancellation or suspension of more than 600 college programs.
The document shows 23 of 24 colleges in Ontario have reported a 48 per cent decrease in first-semester enrolment of international students from September 2023 to September 2024.
It says 19 colleges have reported current and planned staff reductions totalling more than 8,000 employees as of June, noting the data was incomplete as some colleges hadn't reported their layoffs.
The union says the layoffs and program suspensions will have generational impacts and college workers are prepared to fight back against the cuts.
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22 minutes ago
- Globe and Mail
Mining Stocks Finally Wake Up as Gold Stays Hot Above $3,300
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER – News Commentary – Gold's been sitting comfortably above $3,300 an ounce, and now the mining companies are finally seeing the payoff they've been waiting for. While gold itself has been making headlines, it's the mining stocks that are really stealing the show with gains that are leaving the metal itself in the dust. The junior miners especially are having their moment, with some posting impressive returns that remind investors why these smaller companies can be such powerful plays when gold prices cooperate. This shift is creating real opportunities for companies that have been quietly building their projects, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF), Caledonia Mining Corporation Plc (NYSE-American: CMCL), Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF), and Idaho Strategic Resources, Inc. (NYSE-American: IDR). What makes this exciting is simple math—when gold prices go up, mining companies typically see much bigger gains because their costs stay roughly the same while their revenue jumps. Smart money is starting to rotate into these stocks as investors realize the profit potential, and with junior miners leading the charge, this could be just the beginning of a much bigger move. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has achieved a critical regulatory milestone that positions the company for rapid advancement toward production, as Tanzania's National Environment Management Council approved the updated Environmental and Social Management Plan for its fully permitted Imwelo Gold Project. This environmental clearance removes a key development hurdle and confirms the project remains compliant with all regulatory standards, enabling LVG to proceed under its existing 10-year renewable mining license. The regulatory approval comes as Nyati Resources' processing facility reaches final commissioning stages on one of LVG's Tembo licences, directly adjacent to Barrick's sprawling Bulyanhulu Mine. Recent site inspections reveal a facility nearing operational readiness, with commissioning now targeted within the next four to six weeks. The existing 120 tonne-per-day carbon-in-pulp circuit operates under full licensing, while a substantially larger 500+ tpd line approaches completion. Combined capacity will exceed 600 tpd, supported by dual regrind mills, extended leach circuits, and grid-tied power systems with backup generation. "Approval of the updated ESMP is a significant milestone for Imwelo, reinforcing that the project is environmentally sound and socially responsible," said Marc Cernovitch, President & CEO of Lake Victoria Gold. "Combined with the foundation provided by the 2021 Pre-Feasibility Study, Imwelo represents a rare opportunity for near-term gold production in Tanzania with modest capital requirements, strong expansion potential, and the potential to generate cash flow that will support our broader growth strategy across the Lake Victoria Goldfield." The environmental approval accelerates LVG's dual-project advancement strategy. At Imwelo, positioned just 12 km from AngloGold Ashanti's Geita mine, the company is targeting first gold within 12 months of commencing construction. Area C emerges as the initial development zone with an average grade of 3.7 g/t gold—among the highest-grade zones within the historical resource envelope. A strategic 7,750m drill program splits between 3,750m of grade control drilling for immediate mine planning and 4,000m testing mineralized extensions, building on intercepts including 6.8m at 14.6 g/t gold from 33m. Processing readiness through the Nyati facility creates immediate optionality for LVG's Tembo Project, where 3,000m of upcoming drilling targets shallow, high-grade zones ideal for early toll milling. Previous hits of 28.57 g/t over 3m from 54m and 17.23 g/t over 4m from 19m underscore the potential for rapid cash generation ahead of full Imwelo development, creating a staggered production pathway that minimizes development risk. "With updated environmental approvals now in place, our team is focused on the practical steps to bring Imwelo into production," commented Seth Dickinson, Chief Operating Officer of Lake Victoria Gold. "The project benefits from a straightforward mine plan, proven metallurgy, and proximity to existing regional infrastructure. Our upcoming drilling and site works are designed to ensure a smooth transition from planning into construction and, ultimately, first gold within a short development timeline." Strategic upside extends through LVG's exposure to up to US$45 million in milestone payments from the 2021 asset sale to Barrick's Bulyanhulu operation. Financial runway strengthens through a gold prepay financing facility with Monetary Metals and strategic partnership with Taifa Group —Tanzania's largest mining contractor—providing both capital and operational expertise. With environmental approvals secured, plant commissioning weeks away, and drilling programs about to commence, LVG positions itself uniquely in Tanzania's gold landscape—a company transitioning from exploration potential to production reality within one of Africa's most prolific mining districts. In other industry developments and happenings in the market include: Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) reported Q2 2025 financial results with combined revenue of $32.3 million on sales of 15,058 ounces of gold, though average realized prices reflected the impact of a forward sales contract that expired in June 2025. The company produced 13,000 ounces during the quarter and 32,831 ounces for the first half, with Site All-in Sustaining Costs of $1,088 per ounce for the six-month period. 'I am pleased to report a strong second quarter and overall first half in 2025 with gold production at 32,831 ounces for the first six months,' said Bataa Tumur-Ochir, Chairman and CEO of Steppe Gold. 'We reported a very competitive $1,088 per ounce Site AISC for the first half, showing the benefit of strong cost control, maximising leverage to the gold price. With the expiry of the forward contract in June, we expect this to translate to strong operating cash flows in the second half.' Steppe Gold maintains strong working capital of $141.7 million including high-interest bond investments valued at approximately $104 million that mature in December 2025. Caledonia Mining Corporation Plc (NYSE-American: CMCL) delivered exceptional results in Q2 2025 with gold revenue surging 30% to $65.0 million and net profit jumping 147% to $20.5 million, driven by record quarterly production of 21,070 ounces at its Blanket Mine in Zimbabwe. Caledonia generated $28.1 million in operating cash flow and strengthened its balance sheet through the $22.35 million sale of its solar plant facility. "Production in the first half of 2025 was excellent and has exceeded our expectations,' said Mark Learmonth, CEO of Caledonia. 'As a result of this strong performance, we are increasing our annual production guidance. This performance is a testament to the dedication and hard work of our team. Blanket Mine continues to provide a solid foundation for growth." The company achieved a record plant recovery rate of 94.4% and increased its 2025 production guidance to 75,500-79,500 ounces while declaring a dividend of 14 cents per share. Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) expanded high-grade gold zones at its Upper Antino target with an impressive 46.0 metres of 3.59 g/t gold from its ongoing 60,000-metre drilling campaign at the Antino Gold Project in Suriname. Deep drilling has successfully extended the gold system to 500 metres vertical depth with intercepts including 8.0 metres of 2.25 g/t gold and 13.0 metres of 2.10 g/t gold, nearly doubling the vertical extent of the Froyo Zone. "We're seeing exciting results on multiple fronts at Upper Antino," said Colin Padget, President and CEO of Founders. "Ongoing drilling testing continuity and growth of high-grade domains within Froyo, hit an impressive 46.0 metres of 3.59 grams per tonne gold in FR120, and we are continuing to see success in our eastward steps toward Donut." Idaho Strategic Resources, Inc. (NYSE-American: IDR) achieved record second quarter performance with revenue increasing 54.71% to $9.5 million—a new quarterly record—while completing 5,819 metres of drilling across multiple projects. "At IDR, record quarterly revenue and cash flow brings with it record activity and record investment back into the production side of the business and in gold and rare earth elements exploration," said John Swallow, President and CEO of Idaho Strategic. "There shouldn't be any theorists left surmising what it will be like at $2k or $3k gold – we are now living the times for which we have all been training." The company produced 3,010 ounces of gold at its Golden Chest mine with an average flotation feed grade of 9.97 g/t, though All-in Sustaining Costs increased to $1,980.41 per ounce due to extensive exploration activities. Idaho Strategic continues reinvesting significant cash flow into both gold production and rare earth elements exploration across its diversified project portfolio. cs@ (250) 999-4849 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. is owned by Media Corp. ('BAY'). BAY has been paid a fee for Lake Victoria Gold Ltd. advertising and digital media from a shareholder of the Company (333,333 unrestricted shares). There may be 3rd parties who may have shares of Lake Victoria Gold Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of 'BAY' reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Globe and Mail
22 minutes ago
- Globe and Mail
Oshkosh Corporation to Participate in Jefferies Industrials Conference
Oshkosh Corporation (NYSE: OSK), a leading innovator of purpose-built vehicles and equipment, will participate in a fireside chat at the annual Jefferies Industrials Conference. Presenting on behalf of Oshkosh will be executive vice president and CFO, Matthew Field and senior vice president of investor relations, Patrick Davidson. The event is scheduled to start at 8:10 a.m. EDT on September 4, 2025. A live webcast of the presentation can be accessed via the company's website at A replay of the webcast will be available via the same website link approximately 2 hours following the conclusion of the event. About Oshkosh Corporation At Oshkosh (NYSE: OSK), we make innovative, purpose-built vehicles and equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs over 18,000 team members worldwide, all united behind a common purpose: to make a difference in people's lives. Oshkosh products can be found in more than 150 countries under the brands of JLG ®, Pierce ®, MAXIMETAL, Oshkosh ® S-Series™, McNeilus ®, IMT ®, Jerr-Dan ®, Frontline™ Communications, Oshkosh ® Airport Products, Oshkosh AeroTech™, Oshkosh ® Defense and Pratt Miller. For more information, visit
Globe and Mail
22 minutes ago
- Globe and Mail
Trump administration cuts California sexual-health program grant over transgender policies
The Trump administration on Thursday terminated a grant for a program in California intended to prevent teenage pregnancy and childhood sexually transmitted infections, saying the state refused to remove 'radical gender ideology' from its curriculum. The Personal Responsibility Education Program educates young people on abstinence and contraception to prevent pregnancy and sexually transmitted infections, with particular focus on children who are homeless or living in foster care or in areas with high teen birth rates. The grant was worth US$12-million, said Andrew Gradison, an acting assistant secretary at the U.S. Department of Health and Human Services. 'If you continue to push radical ideology on our children, we will not pay for it anymore,' he told Fox & Friends, saying the program included 'radical gender ideology' without providing details. Canadians with an X gender marker will now have to select male or female on Nexus travel cards after Trump order Gradison said that his department is near completing a review of every state's curriculum, adding that by early next week, nearly 40 states will be notified that they need to change their curriculum or face the same consequences. It is the latest salvo in the Trump administration's fight against transgender rights as well as the state of California, led by Democratic Governor Gavin Newsom. Representatives for Newsom's office could not be immediately reached. Before the announcement, President Donald Trump said any California school district that does not adhere to his administration's transgender policies will not receive federal funding, but gave no other details. Representatives for the White House did not immediately respond to requests for detail following Trump's comment, posted to his social media platform. U.S. schools receive the vast majority of their funding through local and state sources, but do receive some money from the federal government. Trump's administration sued California in July over its policy allowing transgender athletes to compete in girls' school sports, alleging that it was a violation of federal anti-discrimination laws. In February, the Republican president signed a directive to strip federal funding from any school that allows transgender women or girls to compete in female sports.
