Latest news with #Porcupine
Hamilton Spectator
14-05-2025
- Business
- Hamilton Spectator
Discovery Reports First Quarter 2025 Financial Results
TORONTO, May 13, 2025 (GLOBE NEWSWIRE) — Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) ('Discovery' or the 'Company') today announced financial results for the three months ('Q1 2025') ended March 31, 2025. All figures are stated in Canadian dollars unless otherwise noted. Tony Makuch, Discovery's CEO, commented: 'Q1 2025 was a breakout quarter for Discovery. On January 27, 2025, we announced the transformational acquisition of the Porcupine Complex (' Porcupine Operations ' or ' Porcupine ') in and near Timmins, Ontario. Through this acquisition, we have established our company as a new Canadian gold producer with substantial potential for growth in one of the world's most prolific gold camps. The acquisition provides Discovery with valuable diversification by combining growing gold production in Canada with our Cordero project (' Cordero ' or the ' Project ') in Mexico, one of the industry's leading silver development projects. 'The market reaction to the acquisition has been resoundingly positive, with Discovery's share price tripling during the first quarter and achieving a 250% increase on a year-to-date basis as of May 12, 2025. With the transaction closing on April 15, 2025, our focus now has turned to implementing investment plans to realize the tremendous upside we see at Porcupine, including the substantial exploration potential that exists at all sites and regionally over the 1,400 km 2 land position. 'Since the closing, there have already been significant developments. On April 24, 2025, we had our first gold pour, and to date have sold 2,800 ounces of gold for gross proceeds of approximately $13.0 million. We just completed a two-week mill shutdown, that had been previously scheduled for the purpose of replacing equipment in the thickening tanks. We used the occasion to advance plans to enhance mill performance, with multiple additional projects completed, primarily in the crushing, grinding and carbon handling circuits. The mill is now running, we have stockpiles built up and we are resuming gold production and sales. 'With a current pro forma cash position of approximately $250 million, and an undrawn US$100 million senior debt facility, we are well capitalized to move forward with our investment strategy for Porcupine, and to fund our current expenditure plans for 2025 at Cordero. The pro forma cash position reflects the addition US$475 million of cash through recently completed royalty and equity financings, net of US$200 million cash consideration paid for Porcupine at closing, transaction and other related costs and cash collateral required for closure obligation bonding requirements.' PORCUPINE OPERATIONS The Porcupine Operations of Discovery cover approximately 1,400 km2 in and near Timmins, Ontario, with the Timmins Camp being one of the world's most prolific gold mining camps. Production from the Porcupine Operations commenced in 1910 and, since that time, Porcupine has accounted for close to 70 million ounces of gold production. Porcupine consists of the Hoyle Pond, Pamour and Hollinger mine properties, the Dome mine property and milling facility (collectively 'Dome'), and numerous near-mine and regional exploration targets in and around Timmins, Ontario. The Complex also includes the Borden mining operation and large, highly prolific, land position near Chapleau, Ontario. All mineralization from the operating mines is treated at Dome, including mineralization from Borden, which is trucked 190 km to the Dome Mill. Based on the recent technical report (the 'Technical Report'), annual production at Porcupine is expected to average over 285,000 ounces of gold for the next 10 years, with total production extending to 2046. Discovery expects to improve on the estimates in the Technical Report through investment in the assets to grow production, extend mine life and lower costs at existing operations. The Company also plans extensive exploration drilling, with there being multiple attractive drill targets at each asset and significant regional exploration potential. Key highlights of the Porcupine operations and their upside potential are provided below. SELECTED FINANCIAL DATA: The following selected financial data is taken from the Company's consolidated financial statements and related notes thereto (the 'Financial Statements') for the three months ended March 31, 2025, and the Management's Discussion and Analysis ('MD&A') for the quarter. The Company's Financial Statements and MD&A are available at and on SEDAR+ at . (1) Defined as current assets less current liabilities from the Company's consolidated financial statements CAPITAL STRUCTURE The closing of the Porcupine acquisition resulted in the issuance to Newmont of 119,716,667 common shares of Discovery as equity consideration for the transaction, as well as the issuance of 275,000,000 common shares in accordance with the terms of a public offering of subscription receipts (the 'Subscription Receipts'), which was completed on February 3, 2025. Each Subscription Receipt was replaced by a Discovery common share on a one-for-one basis on April 16, 2025. As of May 13, 2025, Discovery has a total of 801,405,615 common shares issued and outstanding, which compared to 402,348,373 common shares outstanding as at March 31, 2025. OUTLOOK With the closing of the Porcupine Acquisition on April 15, 2025, Discovery has transformed into a diversified North American-focused precious metals producer combining growing gold production in Northern Ontario, Canada, with one of the world's largest silver development projects in Chihuahua State, Mexico. Beginning in the second quarter of 2025, the Company will report gold production from the Hoyle Pond and Borden underground mines, as well as from the ramp up of gold production from the Pamour open-pit project. Key priorities for the Porcupine Operations over the balance of 2025 include: In addition, the Company plans to complete sufficient work during 2025 to file a pre-feasibility study ('PFS') for the Porcupine Operations with an effective date of December 31, 2025. The PFS is expected to include performance guidance measures for 2026. During 2025, the Company is focused on completing the transition process, including optimizing management structures, integrating systems and commencing investment programs. In Mexico, following release of the Cordero feasibility study results in February 2024, the Company has conducted a limited work program aimed at further advancing and de-risking the Project. The program has included engineering and design work, additional permitting, the acquisition or lease of additional surface rights where appropriate, and the continuation of the Company's ESG and community outreach programs. With the completion of the land acquisition program in March 2025, the next major milestone for the Cordero will be approval of the Company's Environmental Impact Assessment ('Manifesto de Impacto Ambiental' or 'MIA') by the Secretaría de Medio Ambiente y Recursos Naturales ('SEMARNAT'), which was submitted in August 2023. The MIA passed SEMARNAT's legal review soon after its submission and was advanced for technical review. The Company has yet to receive a ruling on the technical review of the MIA. Based on favourable developments in Mexico since President Claudia Sheinbaum assumed office on October 1, 2024, including public comments acknowledging the importance foreign investment projects and the mining industry to the country's economy, the Company remains confident that Cordero will receive MIA approval. USE OF TECHNICAL REPORT ESTIMATES All operating and financial estimates in this press release related to the Porcupine Complex are taken from the technical report entitled, ' Porcupine Complex, Ontario, Canada, Technical Report on Preliminary Economic Assessment ', filed under the Company's profile at SEDAR+ ( ) on January 28, 2025 and available on Discovery's website at . The Technical Report includes the results of a preliminary economic assessment which is preliminary in nature. It includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves and there is no certainty that the estimates will be realized. ABOUT DISCOVERY Discovery is a growing North American-focused precious metals company. The Company has exposure to silver through its first asset, the 100%-owned Cordero project, one of the world's largest undeveloped silver deposits, which is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico. On April 15, 2025, Discovery completed the acquisition of the Porcupine Complex from Newmont Corporation, transforming the Company into a new Canadian gold producer with multiple operations in one of the world's most renowned gold camps in and near Timmins, Ontario. Discovery owns a dominant land position within the camp, with a large base of Mineral Resources remaining and substantial growth and exploration upside. On Behalf of the Board of Directors, Tony Makuch, President, CEO & Director For further information contact: Mark Utting, CFA VP Investor Relations Phone: 416-806-6298 Email: Website: QUALIFIED PERSON Mr. Pierre Rocque, and Eric Kallio, 'Qualified Persons' as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have reviewed and approved the scientific and technical information included in this press release. FORWARD-LOOKING STATEMENTS Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release is not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the '1933 Act') or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. Cautionary Note Regarding Forward-Looking Statements This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although Discovery 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 or developments may differ materially from those described in forward-looking statements. Statements include but are not limited to the development of the Porcupine Operations and its attractive economics and significant exploration upside; construction decision and development, the results of the Technical Report and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, the method of mining the Porcupine Operations, payback period, process capacity, average annual metal production, average process recoveries, concession renewal, permitting of the assets, anticipated mining and processing methods, feasibility study production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, the completion of key de-risking items, including the timing of receipt permits, availability of water and power, availability of labour, job creation and other local economic benefits, tax rates and commodity prices that would support development of the Project, and other statements that express management's expectations or estimates of future performance, operational, geological or financial results Information concerning mineral resource/reserve estimates and the economic analysis thereof contained in the results of the feasibility study are also forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mining, if a mineral deposit were developed and mined. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market access restrictions or tariffs, changes in U.S. laws and policies regarding regulating international trade, including but not limited to changes to or implementation of tariffs, trade restrictions, or responsive measures of foreign and domestic governments, changes to cost and availability of goods and raw materials, along with supply, logistics and transportation constraints, changes in general economic conditions including market volatility due to uncertain trade policies and tariffs, , the actual results of current and future exploration activities; changes to current estimates of mineral reserves and mineral resources; conclusions of economic and geological evaluations; changes in project parameters as plans continue to be refined; the speculative nature of mineral exploration and development; risks in obtaining and maintaining necessary licenses, permits and authorizations for the Company's development stage and operating assets; the accuracy of historical and forward-looking operational and financial information estimates provided by Newmont; the Company's ability to integrate the Porcupine Operations; statements regarding the Porcupine Operations, including the results of technical studies and the anticipated capital and operating costs, sustaining costs , internal rate of return, concession or claim renewal, the projected mine life and other attributes of the Porcupine Operations, including net present value, the timing of any environmental assessment processes, reclamation obligations; operations may be exposed to new diseases, epidemics and pandemics, including any ongoing or future effects of COVID-19 (and any related ongoing or future regulatory or government responses) and its impact on the broader market and the trading price of the Company's shares; provincial and federal orders or mandates (including with respect to mining operations generally or auxiliary businesses or services required for operations) in Canada and Mexico, all of which may affect many aspects of the Company's operations including the ability to transport personnel to and from site, contractor and supply availability and the ability to sell or deliver mined silver; changes in national and local government legislation, controls or regulations; failure to comply with environmental and health and safety laws and regulations; labour and contractor availability (and being able to secure the same on favourable terms); disruptions in the maintenance or provision of required infrastructure and information technology systems; fluctuations in the price of gold or certain other commodities such as, diesel fuel, natural gas, and electricity; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges and changes to production estimates (which assume accuracy of projected ore grade, mining rates, recovery timing and recovery rate estimates and may be impacted by unscheduled maintenance); changes in foreign exchange rates (particularly the Canadian dollar, U.S. dollar and Mexican peso); the impact of inflation; geopolitical conflicts; employee and community relations; the impact of litigation and administrative proceedings (including but not limited to mining reform laws in Mexico) and any interim or final court, arbitral and/or administrative decisions; disruptions affecting operations; availability of and increased costs associated with mining inputs and labour; delays in construction decisions and any development of the Porcupine Operations; changes with respect to the intended method of mining and processing ore from the Porcupine Operations; inherent risks and hazards associated with mining and mineral processing including environmental hazards, industrial accidents, unusual or unexpected formations, pressures and cave-ins; the risk that the Company's mines may not perform as planned; uncertainty with the Company's ability to secure additional capital to execute its business plans; contests over title to properties; expropriation +or nationalization of property; political or economic developments in Canada and Mexico and other jurisdictions in which the Company may carry on business in the future; increased costs and risks related to the potential impact of climate change; the costs and timing of exploration, construction and development of new deposits; risk of loss due to sabotage, protests and other civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; and business opportunities that may be pursued by the Company. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws. The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading 'Risks Factors' in the Company's Annual Information Form dated March 26, 2025, which is available under the Company's issuer profile on SEDAR+ at . Photos accompanying this announcement are available at
Yahoo
18-04-2025
- Business
- Yahoo
Newmont concludes $4.3bn divestment of operations in Ghana and Canada
Newmont has completed the previously announced divestment of its Akyem operation in the Republic of Ghana and its Porcupine operation in Canada. The divestitures are part of Newmont's non-core asset divestiture programme, which is projected to generate up to $4.3bn in gross proceeds, including $3.8bn from non-core assets and $527m from other investment sales. More than $2.5bn in cash proceeds have been received so far in 2025. Earlier this year, Newmont raised $1.7bn in cash proceeds through the sale of three non-core operations in the US. Newmont president and CEO Tom Palmer said: 'Today, I am pleased to announce the successful completion of our non-core asset divestiture programme with the sale of Akyem and Porcupine, generating total after-tax cash proceeds of approximately $850m before closing adjustments. 'This is a significant milestone for Newmont, as we have now divested all six of our non-core operations from the programme announced in early 2024. With the cash proceeds received this year, we remain committed to continuing to strengthen our balance sheet and return capital to shareholders through ongoing share repurchases.' The Akyem operation was sold to Zijin Mining Group for a cash consideration of up to $1bn (7.31bn yuan). The sale of the Porcupine operation in Ontario, Canada, to Discovery Silver involved a $200m (C$277.62m) cash payment and the issuance of approximately 119.7 million Discovery common shares. These shares, representing a 15% interest in Discovery Silver, are held by Goldcorp, a wholly owned subsidiary of Newmont. Additionally, Discovery will pay Newmont $150m in deferred cash over four years, starting from 31 December 2027. Discovery CEO Tony Makuch said: 'With the closing of the Porcupine acquisition, Discovery moves forward as a diversified North American precious metals company, combining growing gold production in a highly prolific gold camp in Northern Ontario, Canada, with our Cordero project, one of the world's largest silver development projects based on reserves and expected production.' "Newmont concludes $4.3bn divestment of operations in Ghana and Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Newmont Completes Its Non-Core Divestiture Program With the Sale of Akyem and Porcupine
Received More Than $2.5 Billion in Cash Proceeds to Date in 20251 DENVER, April 16, 2025--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ("Newmont" or the "Company") announced today that it has finalized the previously disclosed sales of its Akyem operation in Ghana and its Porcupine operation in Canada. With these transactions now closed, the Company has completed the divestiture program announced in February 20242. "Today, I am pleased to announce the successful completion of our non-core asset divestiture program with the sale of Akyem and Porcupine, generating total after-tax cash proceeds of approximately $850 million before closing adjustments," said Tom Palmer, Newmont's President and Chief Executive Officer. "This is a significant milestone for Newmont, as we have now divested all six of our non-core operations from the program announced in early-2024. With the cash proceeds received this year, we remain committed to continuing to strengthen our balance sheet and return capital to shareholders through ongoing share repurchases." Total gross proceeds from announced divestitures are expected to total up to $4.3 billion, which includes $3.8 billion from non-core divestitures and $527 million from the sale of other investments. Porcupine Early Warning Disclosure Under the terms of Newmont's sale of the Porcupine operation in Ontario, Canada, the consideration received included 119,716,667 common shares of Discovery (the "Consideration Shares") in the capital of Discovery Silver Corp. ("Discovery"). The Consideration Shares are held by Goldcorp Inc., a wholly owned subsidiary of Newmont. As a result of the closing, Newmont, which did not hold any common shares of Discovery prior to the transaction, now beneficially owns shares representing approximately 15% of Discovery's issued and outstanding common shares. Newmont will evaluate its investment in Discovery from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings as circumstances require through market transactions, private agreements, or otherwise. This press release is issued pursuant to the early warning provisions of Canadian securities legislation. To obtain a copy of the Early Warning Report filed by Newmont under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, please contact Neil Backhouse at +1 (303) 837-5002 or Newmont's address is 6900 E Layton Avenue, Suite 700, Denver, CO 80237. Discovery is listed on the TSX and its address is 55 University Avenue, Suite 701, Toronto, ON Canada, M5J 2H7. About Newmont Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925. At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to Cautionary Statement Regarding Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements in this news release include, without limitation, (i) expectations regarding total proceeds estimates, including receipt of any deferred consideration in the future, (ii) future financial conditions and balance sheet strength, (iii) future return of capital to shareholders, including share repurchases, and (iv) other statements regarding future events or results. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Assumptions include, but are not limited to: (i) certain exchange rate assumptions approximately consistent with current levels; (ii) certain price assumptions for gold, copper, silver, zinc, lead and oil; (iii) with respect to disclosed sales that have not yet completed, all closing conditions for such sales being satisfied; and (iv) conditions necessary for receipt of deferred consideration being met in the future. For additional information regarding the terms and conditions for receipt of deferred consideration payments and total consideration estimates, refer to the press releases available on the Company's website at (see the September 10, 2024 press release for further details regarding the agreement to divest Telfer and Havieron, the October 8, 2024 press release for further details regarding the agreement to divest Akyem, the November 18, 2024 press release for further details regarding the agreement to divest Musslewhite, the November 25, 2024 press release for further details regarding the agreement to divest Éléonore, the December 6, 2024 press release for further details regarding the agreement to divest CC&V, and the January 27, 2025 press release for further details regarding the agreement to divest Porcupine). No assurances can be provided with respect to the receipt of deferred consideration. For a discussion of risks and other factors that might impact future looking statements , see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the "SEC") on February 21, 2025, under the heading "Risk Factors" (including without limitation under the subheading the headings "Assets held for sale may not ultimately be divested and we may not receive any or all deferred consideration" and "The Company's asset divestitures place demands on the Company's management and resources, the sale of divested assets may not occur as planned or at all, and the Company may not realize the anticipated benefits of such divestitures"), available on the SEC website or at Investors are also cautioned that the extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. ____________________ 1 Represents after-tax cash proceeds before closing adjustments. 2 All previously announced operating sites having been divested, with the Coffee development project remaining designated as held for sale. No agreement has been reached with respect to Coffee as of the date of this release. View source version on Contacts Investor Contact – GlobalNeil Investor Contact – Asia PacificNatalie Media Contact – GlobalShannon Lijekglobalcommunications@ Sign in to access your portfolio
Telegraph
17-03-2025
- Politics
- Telegraph
Porcupine for Putin: How Europe can defend itself against Russia
The Trumpian view of Europe and its relevance to the United States is no longer shrouded in hope and uncertainty. The question is how far America First policies will raise the metaphorical drawbridge over the Atlantic. While everyone wants the US to remain an integral part of Nato, Europe would be wise to act proactively now. It is possible that the Trump peace plan for Ukraine will come at great cost to Ukraine. Russia may make few concessions to guarantee a lasting settlement. Europe will probably be forced to become the de facto guardian of Ukraine's future as America cuts its military responsibilities and guarantees, in the belief that American investment in developing Ukraine's minerals will suffice to deter Russia. The crucial question is – what happens when or if Russia continues its aggression. What could be the most effective and least costly option? Based on a multi-dimensional geopolitical and military analysis, our proposed option is a modified form of the so-called 'Porcupine Defence' underwritten by a combined and re-tailored British-French nuclear deterrent for Europe as suggested by French President Emmanuel Macron. This strategy exploits Europe's dramatic advantages in population size, GDP and conventional military forces and faces up to Russia's a significant lead in theatre nuclear weapons. A Porcupine Defence could be fielded within 3-5 years with an affordable increase of 0.5 to 1 per cent of GDP in defence spending. The aim of this Porcupine Defence is to guarantee such disruption and damage on any Russian military thrust west as to make aggression too expensive to contemplate. The Ukraine War has showed how Porcupine would work. And Europe surely has the resources and technology for this defence. Russia has exhausted an overwhelming preponderance of its offensive military power in Ukraine. The US took more than a decade to recover from the post-Vietnam 'hollow force': for Moscow, it would probably take 5-7 years or more to rebuild its army. Europe has time to implement a Porcupine Defence, if it starts now. Porcupine would be deployed to cover the four most likely axes of advance for any Russian attack: the North Cape and Kola; the Baltics, St Petersburg and Kaliningrad; the south-centre oriented around Poland; and the Turkish straits blocking the Black Sea. The defence would be anchored around a willing coalition of Nato and EU states to include Norway, Sweden and Finland in the north; the Baltics, Denmark, Germany, and Holland; Poland and the Czech Republic in the south centre; and Greece, Turkey, Romania and Bulgaria on the Black Sea. The UK and France could provide mobile reserve forces held in depth. The technologies are well known and based on massive swarms of air, sea and land drones; AI, command, computer, communications, surveillance, targeting, decision-making and control systems; land and sea mines; anti-air, land and sea stand-off weapons; electronics, jamming and counter-jamming systems; reserve low earth orbiter satellites; 3D printing and advanced and additive manufacturing logistics and other related systems. Sufficient long range firepower for follow on forces attack/deep strike will disrupt enemy logistics and decapitate senior leaders. Porcupine will require skilful and rapid innovation, meaning decentralisation of command and control and major reorganisation and training to ensure its military effectiveness. This will be challenging in the short term but it is achievable and the operational benefits will be huge. The obvious strategic weakness of Porcupine is if the war is not short: the Anglo-French nuclear deterrent covers that contingency. The USSR and Russia have been and are paranoid about nuclear weapons, the ultimate war winners or losers in their concept and doctrine for war. Along with the threat of nuclear weapons' use is the will to use them. Interestingly, UK Prime Minister Margaret Thatcher's determination to retake the Falklands after Argentina's 1982 invasion heavily influenced Moscow's nuclear paranoia. That fear still lingers. If Russia moved west and did somehow manage to break through the defences, facing an existential danger Britain and France could target Moscow and St Petersburg with dozens of weapons as well as the attacking forces. Beyond a natural reluctance to take such a risk, Russia would understand that any massive retaliation would leave America's 1550 nuclear warheads along with China's as controlling the future strategic balance to Russia's disadvantage, thus further reinforcing deterrence. Whether or not the current trajectory of Trump's America First policies forces Europe to reconsider its security and defence, prudence demands that preliminary action be taken to begin planning for this future now. Europe simply cannot wait. And we believe that a Porcupine Defence will best fit European and alliance needs to keep the peace. General The Lord David Richards is a former Chief of Defence Staff – the professional head of the UK armed forces. Dr Harlan Ullman, a noted defence expert, has advised a number of governments and ministries of defence on these issues
Yahoo
13-03-2025
- Automotive
- Yahoo
The 7 Most Expensive Motorcycles in the World in 2025
The average motorcycle can cost a motor biking enthusiast anything from $5,000 to $20,000 to ride a new bike off the lot. This might seem like a lot of money, but it's still a far cheaper price range than what one would pay for most new cars. That said, there are a number of motorcycles that cost — wait for it — well over $1 million. For You: Trending Now: That's right, two wheels and an engine within a sleek body can cost millions upon millions of dollars. How? According to the information site Jagran Josh, the wallet-busting costs are mostly due to highly limited model runs and exclusive designs, cost-prohibitive technology too pricey for mass production and good old-fashioned historical significance. Also here are four motorcycles that maintain value and 3 that depreciate quickly. Price: $11 million This bad boy was initially priced at a shocking $110,000 before speeding to an almost-unbelievable $11 million at auction, all thanks to a wildly singular frame that is made from a single piece of metal built around a 120ci V-twin engine. Check Out: Price: $7 million This 1949 iteration of the Porcupine only produced four units, renowned for their lightweight frame made of aluminum (allowing it to excel in the Grand Prix racing circuit). That incredible rarity, mixed with powerful speed (thanks to a 500-cc DOHC twin engine), makes the Porcupine not just legendary, but extremely, extremely expensive. Price: $3.6 million A 'hyperbike,' the Ecosse ES1 Spirit can breeze past speeds over 200 mph due to its lightweight nature (256 pounds because of its carbon-fiber body) and its 1000 cc four cylinder in-line engine. That level of innovation, mixed with an overall rarity, allow the Ecosse a seven-figure price tag. Price: $3.5 million The Hildebrand & Wolfmuller was made in 1984, making it the first-ever production motorcycle — which almost makes an extraordinarily significant piece of antiquity and automotive history. Price: $3 million The seven-figure asking price of the BMS Nehmesis comes as no surprise — this is motorcycle that is literally coated with 24-karat gold and is loaded with an ultra-powerful 1700 cc engine. Price: $1.5 million Not just a motorcycle but a work of art, the Cosmic Starship is hand-painted by the artist Jack Armstrong for a one-of-a-kind design. Price: $550,000 The Tomahawk is the only motorcycle on this list not to crack the $1 million mark, but it's still incredibly expensive because of its extremely limited production, powerful V10 engine from a Dodge Viper and a hyper-futuristic (and non-street legal) body design. More From GOBankingRates10 Most Expensive Meals in the World6 SUVs That Last Longer Than You Think and Are Worth the Money This article originally appeared on The 7 Most Expensive Motorcycles in the World in 2025
