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Business Wire
a day ago
- Business
- Business Wire
Spanish Mountain Gold Announces Completion of Shares For Debt
VANCOUVER, British Columbia--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the "Company" or "Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to announce that, further to the Company's news release on July 4, 2025, the Company has completed a shares for debt transaction with Whittle Consulting Ltd., an arm's length creditor of the Company ('Whittle') to settle an aggregate of $379,720 in outstanding debt (the 'Debt'). In settlement of the Debt, the Company has (i) paid Whittle $14,320, in cash, and (ii) issued 2,110,919 common shares in the capital of the Company (the 'Shares') as directed by Whittle at a price of $0.1731 per Share (the 'Debt Settlement'). The Debt Settlement extinguishes the Debt owed to Whittle for past services to the Company. Closing of the Debt Settlement was subject to a number of customary closing conditions, including, but not limited to, approval from the TSX Venture Exchange. The Shares are subject to a statutory four month plus a day hold period in accordance with applicable securities legislation. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company will publish, within 45 days of the July 3, 2025 Preliminary Economic Assessment (PEA) news release, a new NI 43-101 Technical Report setting out the new executable vision to advance the Project. This new NI 43-101 Technical Report, with a de-risked and optimized PEA with an updated Mineral Resource Estimate (MRE), will supersede the prior technical report of the Company. Upon receipt of the new PEA and updated MRE, the Company will decide the next steps to advance the Project to position the Company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details of the Company are available on and on the Company's website: On Behalf of the Board, 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING INFORMATION: Certain of the statements and information in this press release constitute "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
Web Release
2 days ago
- Business
- Web Release
Saudi Arabia's Global Reputation Shifts Positively, Driven by Vision 2030 and Economic Diversification
Saudi Arabia's global reputation has seen a significant positive transformation, according to CARMA's 5th Edition of the Kingdom Reputation Report. The report indicates a notable increase in positive sentiment and a decline in negative media coverage, largely attributed to the country's Vision 2030 initiatives, economic diversification, and growing soft power. The latest insights from CARMA's Report include: A Surge in Positive Global Sentiment Positive mainstream media coverage of Saudi Arabia increased by 25% in 2024, compared to the previous year. Since 2020, negative media coverage has declined by 55%, signalling a decisive reputational shift. CARMA's survey, encompassing respondents from the UK, the USA, India, Singapore, and Russia, revealed that 59% expressed positive sentiment towards Saudi Arabia. Additionally, 37% of respondents reported that their views have become more favourable over the past 12 months. Vision 2030 Shaping The Narrative Vision 2030 dominated international discourse in 2024, directly tying into 60% of all global media coverage about Saudi Arabia, the highest share recorded to date. For the first time since 2020, coverage of Saudi Arabia's economic and social transformation under Vision 2030 has outpaced political discourse. Events, Tourism and Entertainment Drive Global Interest Media coverage of Saudi Arabia's economy rose by 77% in 2024, driven by events like the Future Investment Initiative (FII)LEAP tech conference and the World Defence Show. Tourism and entertainment media coverage is increasing by 60% compared to 2023, representing a strong rebound and highlighting Saudi Arabia's growing appeal as a destination. While overall media volume on sports decreased by 7%, it still accounts for 11% of all media coverage, maintaining its significant influence. High-profile sports events, such as the announcement of hosting the 2034 FIFA World Cup, continue to generate headlines and build international connections. Influencing the Influencers Influential figures like Cristiano Ronaldo, Neymar, MrBeast, and Elon Musk amplified engagement through their posts, showcasing Saudi Arabia's evolving cultural, sporting, and entertainment landscape. Saudi Arabia's leadership emerged as influential figures in global media, widely portrayed in a positive light for driving transformative reforms, advancing landmark mega-projects, and deepening regional diplomacy. The public survey found that 59% of respondents were interested in visiting Saudi Arabia, 60% would consider doing business there, and 52% were open to working in the Kingdom. CARMA's report, which utilises AI analysis, sentiment tracking, human interpretation, and considers international media, influential social voices, multi-market public surveys, and AI-driven search trends, provides a comprehensive view of Saudi Arabia's evolving perception. This shift reflects global recognition of Saudi Arabia's determined efforts toward economic, social, and cultural reinvention.
Time of India
2 days ago
- Politics
- Time of India
US-Iran strikes: Tehran admits nuclear facilities were 'seriously damaged'; Trump warns 'will do it again, if necessary'
Iranian nuclear infrastructure suffered 'serious damage' after US missile strikes last month, but the regime has vowed to restart uranium enrichment as soon as its facilities are rebuilt, foreign minister Abbas Araghchi said on Monday. Speaking to Fox News' Special Report, Araghchi admitted that Tehran's enrichment programme had been halted after three major sites were targeted on 22 June, under orders from US President Donald Trump. 'Our facilities have been damaged, seriously damaged, the extent of which is now under evaluation,' Araghchi told host Bret Baier. 'The facilities have been destroyed.' President Trump quickly reacted to the remarks, saying he was proven right in a post on Truth Social. 'Iran's Foreign Minister, Abbas Araghchi, on the Iran Nuclear Sites: 'Damages are very severe, they are destroyed.' "Of course they are, just like I said, and we will do it again, if necessary!" he said. The US President further went on to demand an apology from CNN, accusing the network of downplaying the effectiveness of the strikes and calling for the sacking of one of its journalists. "As interviewed by Bret Baier. Fake News CNN should immediately fire their phony 'reporter' and apologize to me and the great pilots who 'OBLITERATED' Iran's nuclear sites. CNN is a major ratings loser, as is MSDNC!" The Iranian minister added that the country had not been able to refine nuclear fuel since the airstrikes, but stressed the country would not abandon its nuclear ambitions, which he insisted were for 'peaceful purposes.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Citadel by Mahindra – Homes with a Modern Edge Mahindra Citadel Enquire Now Undo 'It is now stopped because, yes, damages are serious and severe, but obviously we cannot give up our enrichment,' he said. 'It is an achievement of our own scientists." "And now, more than that, it is a question of national pride,' the minister further added. Araghchi also highlighted Tehran's firm stance ahead of any potential talks with Washington. He ruled out accepting any nuclear agreement that restricts domestic uranium enrichment, calling it a 'matter of dignity for the Iranian people.' 'If the goal is to make sure that Iran will never have nuclear weapons, that is achievable,' he said. 'But if the goal is to deprive Iran from its rights, including the right of enrichment, I think we have, we have difficulty,' New York Post cited Araghchi. Despite the destruction of several key sites, Araghchi insisted Iran retained the technical knowledge and personnel needed to resume enrichment in the future. 'Buildings can be rebuilt. Facilities can be rebuilt. Machines can be replaced,' he said. 'The technology is there.' When asked whether Iran's existing stockpile of enriched uranium had survived the strikes, he said he had 'no detailed information.' Araghchi also rejected any suggestion that Tehran would scale back its ballistic missile programme or withdraw support for regional proxy groups such as Hamas, Hezbollah and the Houthis. 'They are fighting for a just cause, and we have always supported them,' he said. 'On our missiles, as I said, that is our most reliable means of defense.' 'How we can disarm ourselves? Who can [Iran] accept anything like that?' The foreign minister did leave the door open to renewed diplomacy but ruled out direct talks with the Trump administration for the time being. 'If they are coming for a win-win solution, I am ready to engage with them,' he said.
Hans India
2 days ago
- Business
- Hans India
Listed startups raise over $5-bn via public markets in FY25
New Delhi: Venture-backed Indian startups raised over Rs 44,000 crore ($5.3 billion) in FY25 from public markets via initial public offerings (IPOs), follow-on public offerings (FPOs), and qualified institutional placements (QIPs), a report said on Monday. Public markets outpaced private capital for late-stage fundraising, solidifying their role as the dominant source of growth capital, according to Rainmaker Group's 'RainGauge Index FY25 Annual Report'.FY25 also marked the first full market cycle for India's startup listings after a euphoric period for IPOs in 2021–22, sharp corrections in 2023, and rationalisation in 2024. 'All of this unfolded with a backdrop of a cyclical economic slowdown in India in FY25, causing a lot of consumer-facing companies to battle margin compression and weak topline momentum, the report said. The fiscal year also saw a secondary exit of over Rs 20,000 crore as private equity/venture capital (PE/VCs) harvested early bets through block deals.'FY25 didn't just test India's startup listings, it matured them,' said Kashyap Chanchani, Managing Partner, The Rainmaker Group. The public market has become the preferred playground for India's breakout companies. We've now seen the full arc - the IPO frenzy, the valuation winter, and now a clear re-rating driven by fundamentals, Chanchani said.
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
NOVAGOLD Announces Appointment of New Director
VANCOUVER, British Columbia, July 21, 2025 (GLOBE NEWSWIRE) — NOVAGOLD RESOURCES INC. ('NOVAGOLD' or the 'Company') (NYSE American, TSX: NG) is pleased to announce that the Company's Board of Directors (the 'Board') has approved the appointment of Ali Erfan to serve on the Board effective immediately. Mr. Erfan's ascension will fill the vacancy left by the departure of director Diane Garrett. 'I am very pleased to welcome Ali Erfan to NOVAGOLD's Board', said Dr. Thomas S. Kaplan, NOVAGOLD's Chairman. 'Mr. Erfan brings a wealth of knowledge and experience as a long-standing Vice-Chairman of The Electrum Group, investment adviser to Electrum Strategic Resources, which is the Company's largest shareholder and a global leader in precious metals mining, with multi-billion-dollar investments and operations in North America. I also wish to extend my deepest appreciation to Diane Garrett for her valued guidance and significant contributions to the Company over her seven years of committed service.' Mr. Erfan has extensive capital markets and industry experience as one of the key executives at Electrum, which he joined in 2007, and as a founding board member of Leor Energy, a privately held North American natural gas producer that went from a start-up in 2003 to being sold to Encana in 2007 for $2.6 billion. He later served on the board of Gatos Silver from IPO through to its merger with First Majestic and presently sits on the boards of Gabriel Resources Ltd. (TSX-V: GBU.V), and Electrum's two privately-held silver vehicles — Sunshine Silver Mining & Refining and Sinda. Prior to joining Electrum, Mr. Erfan was a senior partner at 3i Group plc's London headquarters, one of the world's most prominent listed private equity and venture capital investment companies. Earlier in his career, Mr. Erfan was invested in several early-stage technology companies that achieved IPOs and M&A exits internationally. These included, among others, HTE (acquired by BASF), Insensys (acquired by Moog Inc.), Smart Fuel Cells (IPO Frankfurt), and CSR (IPO London, then acquired by Qualcomm). Mr. Erfan graduated from the University of Oxford with a BA and an MA in Philosophy, Politics and Economics. He holds an MBA from the London Business School and is a member of Kauffman Fellows Class 10. About NOVAGOLD NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories, inclusive of Proven and Probable Mineral Reserves (541 million tonnes at an average grade of approximately 2.24 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis)1, the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world. According to the 2021 Technical Report and the S-K 1300 Technical Report Summary, once in production, the Donlin Gold project is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100% basis. NOVAGOLD Contacts: Mélanie Hennessey Vice President, Corporate Communications Frank Gagnon Manager, Investor Relations 604-669-6227 or 1-866-669-6227 info@ Cautionary Note Regarding Forward-Looking Statements This media release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. Forward- looking statements are frequently, but not always, identified by words such as 'expects', 'continue', 'ongoing', 'anticipates', 'believes', 'intends', 'estimates', 'potential', 'possible', and similar expressions, or statements that events, conditions, or results 'will', 'may', 'could', 'would' or 'should' occur or be achieved. Forward-looking statements contained in this media release are based on a number of material assumptions, including but not limited to the following, which could prove to be significantly incorrect: our ability to achieve production at Donlin Gold; the cost estimates and assumptions contained in the 2021 Technical Report and the S-K 1300 Technical Report Summary; estimated metal pricing, metallurgy, mineability, marketability and operating and capital costs, together with other assumptions underlying our resource and reserve estimates; our expected ability to develop adequate infrastructure and that the cost of doing so will be reasonable; assumptions that all necessary permits and governmental approvals will be obtained and the timing of such approvals; assumptions made in the interpretation of drill results, the geology, grade and continuity of our mineral deposits; our expectations regarding demand for equipment, skilled labor and services needed for exploration and development of mineral properties; our ability to improve our ESG initiatives and goals; and that our activities will not be adversely disrupted or impeded by development, operating or regulatory risks. Forward-looking statements are necessarily based on several opinions, estimates and assumptions that management of NOVAGOLD considered appropriate and reasonable as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements. These forward-looking statements include statements regarding perceived merit of properties; mineral reserve and mineral resource estimates; and the success of the strategic mine plan for the Donlin Gold project, including expected production and mine life. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements are not historical facts but instead represent the expectations of NOVAGOLD management's estimates and projections regarding future events or circumstances on the date the statements are made. Important factors that could cause actual results to differ materially from expectations include the need to obtain additional permits and governmental approvals; the timing and likelihood of obtaining and maintaining permits necessary to construct and operate; the need for additional financing to complete an updated feasibility study and to explore and develop properties; availability of financing in the debt and capital markets; disease pandemics; uncertainties involved in the interpretation of drill results and geological tests and the estimation of reserves and resources; changes in mineral production performance, exploitation and exploration successes; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the United States or Canada; the need for continued cooperation between the owners of Donlin Gold LLC to advance the project; the need for cooperation of government agencies and Native groups in the development and operation of properties; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, disease pandemics, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and currency exchange rates; whether or when a positive construction decision will be made regarding the Donlin Gold project; and other risks and uncertainties disclosed in NOVAGOLD's most recent reports on Forms 10-K and 10-Q, particularly the 'Risk Factors' sections of those reports and other documents filed by NOVAGOLD with applicable securities regulatory authorities from time to time. Copies of these filings may be obtained by visiting NOVAGOLD's website at , or the SEC's website at , or on SEDAR+ at . The forward-looking statements contained herein reflect the beliefs, opinions and projections of NOVAGOLD on the date the statements are made. NOVAGOLD assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. __________________________________ 1 Donlin Gold data as per the report titled 'NI 43-101 Technical Report on the Donlin Gold project, Alaska, USA' with an effective date of June 1, 2021 (the '2021 Technical Report') and the report titled 'S-K 1300 Technical Report Summary on the Donlin Gold project, Alaska, USA' (the 'S-K 1300 Technical Report Summary'), dated November 30, 2021. Donlin Gold possesses Measured Resources of approximately 8 Mt grading 2.52 g/t and Indicated Resources of approximately 534 Mt grading 2.24 g/t, each on a 100% basis and inclusive of Mineral Reserves, of which approximately 5 Mt of Measured Resources and approximately 320 Mt of Indicated Resources inclusive of Reserves is currently attributable to NOVAGOLD through its 60% ownership interest in Donlin Gold LLC. Exclusive of Mineral Reserves, Donlin Gold possesses Measured Resources of approximately 0.9 Mt grading 2.23 g/t and Indicated Resources of approximately 69 Mt grading 2.44 g/t, of which approximately 0.5 Mt of Measured Resources and approximately 42 Mt of Indicated Resources exclusive of Mineral Reserves is currently attributable to NOVAGOLD. Donlin Gold possesses Proven Reserves of approximately 8 Mt grading 2.32 g/t and Probable Reserves of approximately 497 Mt grading 2.08 g/t, each on a 100% basis, of which approximately 5 Mt of Proven Reserves and approximately 298 Mt of Probable Reserves is attributable to NOVAGOLD. Mineral Reserves and Resources have been estimated in accordance with NI 43-101 and S-K 1300.
