Latest news with #Stowell
West Australian
a day ago
- Business
- West Australian
Southern Hemisphere boosts Llahuin copper-gold resource to 218Mt
Southern Hemisphere Mining has firmed up its copper-gold-molybdenum footing in Chile having unveiled a beefed-up mineral resource of 218.2 million tonnes at 0.38 per cent copper equivalent at its Llahuin project north of the country's capital Santiago. The company says the new JORC-compliant estimate, complied by Hyland Geological and Mining Consultants, incorporates its Central Porphyry, Cerro, and Ferro zones and contains 496,600 tonnes of copper, 654,900 ounces of gold, and 12,500 tonnes of molybdenum. Critically, the recent in-fill drilling has lifted a significant chunk of the resource into the measured category now totalling a robust 151.9Mt in measured resources at 0.4 per cent CuEq, 22.2Mt in indicated resources at 0.33 per cent CuEq, and 44.1Mt in inferred resources at 0.31 per cent CuEq. Located 350km north of Santiago near Illapel and just 5km from grid power in Chile's Coquimbo Region, the Llahuin project sits within a well-established mining district also home to major copper mining operations such as Los Pelambres and Andacollo. Situated at 1300m elevation, Llahuin benefits from sealed roads, non-potable water in shallow aquifers, and proximity to underused rail infrastructure. The Llahuin deposit is a porphyry copper-gold-molybdenum system with iron oxide copper-gold (IOCG) characteristics, hosted in Cretaceous dioritic and granodioritic intrusions and surrounding volcanic units. High-grade mineralisation, associated with quartz stockwork and potassic alteration, extends along a 2.5km north-south strike, with management eyeing a potential 6km mineralised corridor which remains open north, south, and at depth. Recent drilling, particularly at the Cerro-Ferro deposit, has confirmed both areas form a single mineralised system, with recent step-out holes targeting NNE-trending, ESE-dipping vein sets known to host gold at Cerro. Last year's discovery at Ferro South added consistent grade and width, boosting resource numbers and pointing to more upside. Stowell says the company sees considerable scope for resource growth at Cerro-Ferro including the Ferro West magneto-telluric target and at its recent discovery at Ferro South, considering the shallow drilling to date in these areas. Backing that up, Southern Hemisphere has now defined an exploration target in the ranges of 260–340Mt at 0.20–0.30 per cent copper, 0.08–0.10g/t gold, and 50–60 parts per million molybdenum - a conceptual target that sits outside the existing resource and includes zones such as the Curiosity-Southern Porphyry target. While still early-stage, the target is supported by wide-spaced drilling and soil sampling, with infill drilling planned to bring it into the fold. Only the Central Porphyry zone has been systematically drilled below 200m, with mineralisation still open at depth, underscoring the upside for deeper exploration. On the metallurgy front, copper recoveries from past testwork have averaged around 84 per cent, with gold coming in between 41 and 57 per cent, and molybdenum between 14 and 56 per cent, with potential for improvement using specialized reagents. The orebody also features moderate hardness and low deleterious material, ticking key boxes for flotation and processing. Southern Hemisphere is now planning a 1400m diamond drilling program with JV partner FMR Resources in the final quarter of this year. The program will target the depth extensions and untested areas of the Curiosity-Southern Porphyry copper zone where earlier drilling flagged the potential for higher-grade mineralisation lurking deeper down. With a substantial resource at hand, robust exploration upside and drilling on the immediate horizon, Southern Hemisphere with its Llahuin project looks poised to become a key player in Chile's copper-gold landscape with investors likely closely monitoring the action as the company aims to add more tonnes to an already solid resource base. Is your ASX-listed company doing something interesting? Contact:
Spectator
20-07-2025
- Business
- Spectator
Inside the Lords battle on foreign media ownership
After a two-year impasse, the future of the Daily Telegraph could be resolved shortly. A £500m deal has been struck for US firm Redbird Capital to take control of the Telegraph Media Group, with state-backed Abu Dhabi investment vehicle IMI among investors. But a fresh challenge has arisen in the House of Lords. Peers are threatening to block minister's efforts to change the law to give foreign companies a greater stake in British media outfits – up from the existing five per cent to 15 cent. This is a necessary legal change to allow the Telegraph sale to go ahead. A 'fatal motion' will be held in the Lords on Tuesday; if passed, it would kill the government's plans. It is a device seldom wielded by peers, having been last used in 2012. But opponents are growing increasingly confident that the 'fatal motion' could succeed. Two separate fronts have opened up in the Lords. The first is led by Liberal Democrat peer Lord Fox, who tabled the motion. Lib Dem whips are understood to be pulling out all the stops to maximise turnout, including facilitating the attendance of their older peers who do not vote regularly. Their argument is simple: the power of the free press should not be sold to overseas companies susceptible to foreign government influence. The hope is that a sufficient number of Tory and Crossbench peers will vote it down. The second front is led by the cross-party Inter Parliamentary Alliance on China (Ipac) and its supporters like Lord Alton. Their focus is more directly on the Telegraph sale. Sir Iain Duncan Smith has written to Lisa Nandy, the Culture Secretary, arguing that a Foreign State Intervention Notice (FSNI) be issued in this case. A legal opinion by Tom Cross KC details alleged links between Redbird Capital's chairman John Thornton and the Chinese state, including his advisory roles on Beijing's sovereign wealth fund. Sir Iain argues that this is compelling evidence for Nandy to 'adhere to your statutory duty and issue a FSIN without delay.' Both groups are seeking to influence their colleagues across the House. Given the government's lack of a majority, the hope is that a sufficient number of Tory and Crossbench peers will vote it down. Tory whips are expected to vote against the fatal motion, though their colleagues will not be whipped to follow suit. Lord Forsyth, the respected chair of the Association of Conservative Peers, is expected to vote for the motion; others will likely follow his lead. One opponent notes that the Conservatives voted for fatal motions that successfully halted government legislation when they were last in opposition before 2010. A separate 'motion of regret' has been put down by Baroness Stowell, the former Leader of the House. Some supporters of the fatal motion fear it could frustrate their efforts, with wavering peers potentially voting for Stowell's amendment rather than Fox's. The government will argue that a statutory instrument can close the loophole whereby multiple states can each own 15 per cent of any publication. But their critics will counter that this is insufficient and will not stop the Telegraph deal from going ahead.
Yahoo
28-05-2025
- Business
- Yahoo
Labour plan to let foreign states team up to own newspapers sparks alarm
Labour's plan to let foreign powers own shares in newspapers has sparked alarm that they could team up to gain sway over Britain's free press. Lisa Nandy, the Culture Secretary, has proposed laws to allow states to hold passive stakes of up to 15pc in newspapers and news websites. There is no planned rule on what portion a group of foreign states could own, however, raising concerns in the House of Lords over 'where will it end?' The legislation is partly intended to dispel the uncertainty faced by The Telegraph since a takeover bid led by the United Arab Emirates was blocked by the Conservatives over a year ago. By easing an existing outright ban on foreign state ownership, Ms Nandy's plan is also meant to help improve British relations with the wealthy Gulf state, which were damaged by the saga. The UAE is now expected to become a silent minority shareholder in a consortium led by RedBird Capital Partners, the US private equity firm which was previously the junior partner in its bid. The Conservative Party leadership has said it will support a limit of 15pc. However, after analysing the proposed statutory instrument, the Tory peer Baroness Stowell, a pivotal figure in the rebellion that derailed the UAE bid, has written to Ms Nandy to demand changes. Baroness Stowell, who has said she will not oppose single passive stakes of up to 15pc, told The Telegraph: 'Without a cumulative limit on foreign state shareholdings you have to ask where will it end? 'You could have countries teaming up to seek influence. I don't understand why this hasn't been addressed in the proposed legislation. It may be that there are other ways the Government believes it can address this risk. If so, let's hear it and debate it.' Ministers have other powers to block foreign investments, such as those they believe are a potential threat to British security, under the National Security and Investment Act. Lord Fox, the Liberal Democrats' culture spokesman in the Lords, backed Baroness Stowell's demand for a rethink and said there were 'glaring loopholes … ready to be taken advantage of by foreign states'. He added: 'It's wrong that this Government has no qualms with multiple states owning unlimited aggregate stakes in British papers. The independence of UK media must not be made subject to foreign sway. 'We are pressing peers from right across the House to stand with us, block this legislation and defend press freedom.' The Liberal Democrats have tabled a rare 'fatal motion' in the Lords to obstruct Ms Nandy's legislation. They argue that it would effectively overturn the ban on foreign state ownership approved by Parliament last year. Some Conservative peers, led by Lord Forsyth, are expected to back the bid to block the legislation. He has said the idea that a stake of 15pc could be entirely passive was 'utterly naive'. The Conservatives originally proposed a limit of just 5pc to allow sovereign wealth funds to make small passive investments in newspapers, such as via share index trackers. Ms Nandy opted to increase the limit three-fold after lobbying on behalf of Rupert Murdoch and Lord Rothermere, the owner of The Daily Mail. She agreed with them that a 5pc limit would cut news publishers off from a potentially vital source of international capital at a turbulent time as the decline of print accelerates. It is not clear whether any foreign state has already made an equity or debt investment in a UK news publisher. The Independent news website, controlled by Lord Lebedev, sold a 30pc stake to a Saudi investor in 2017. A subsequent Ofcom investigation explored potential links between the investor and the Saudi state but did not draw conclusions. The Independent subsequently formed an editorial and commercial partnership with a Saudi state media company. Under Ms Nandy's proposals, she will have a duty to trigger regulatory investigations when there are concerns of foreign state influence. Baroness Stowell said there was a need to ensure MPs and peers had a bigger role, with a guarantee that questions about press freedom would be heard in the chamber. Questions she attempted to ask about the fate of The Telegraph were rejected by parliamentary officials in consultation with the Government on three occasions. Baroness Stowell said: 'My concern is that Parliament has all the tools it needs to protect freedom of the press. This is especially important given the proposals from the Government create an ongoing duty to monitor and investigate issues with foreign state investors. 'When it comes to press freedom it is critical that Parliament can ask any questions it sees fit.' The Department for Culture, Media and Sport was asked for comment. Sign in to access your portfolio
Yahoo
22-05-2025
- Yahoo
Altoona man sentenced nearly 4 years for drug trafficking in Central Pennsylvania
JOHNSTOWN, Pa. (WTAJ) — An Altoona man was sentenced in federal court for drug trafficking around Blair, Cambria, Centre and Clearfield counties, Acting United States Attorney Troy Rivetti announced. Andrew Stowell, 67, was sentenced to 46 months in prison, followed by two years of supervised release, by United States District Judge Stephanie L. Haines. Stowell was part of an Altoona-based drug trafficking organization, according to information presented to the court. On Dec. 12, 2022, Stowell sold a quarter-pound of methamphetamine to an undercover officer. Original Story: Ten Central Pennsylvanians indicted on federal charges for drugs, money laundering Rivetti commended the Drug Enforcement Administration, United States Postal Service–Office of Inspector General, United States Postal Inspection Service, Homeland Security Investigations, Internal Revenue Service-Criminal Investigation, Pittsburgh Bureau of Police, and Pennsylvania State Police for the investigation leading to the successful prosecution of United States Attorney Jonathan D. Lusty prosecuted this case on behalf of thegovernment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
22-05-2025
- Yahoo
Altoona man sentenced nearly 4 years for drug trafficking in Central Pennsylvania
JOHNSTOWN, Pa. (WTAJ) — An Altoona man was sentenced in federal court for drug trafficking around Blair, Cambria, Centre and Clearfield counties, Acting United States Attorney Troy Rivetti announced. Andrew Stowell, 67, was sentenced to 46 months in prison, followed by two years of supervised release, by United States District Judge Stephanie L. Haines. Stowell was part of an Altoona-based drug trafficking organization, according to information presented to the court. On Dec. 12, 2022, Stowell sold a quarter-pound of methamphetamine to an undercover officer. Original Story: Ten Central Pennsylvanians indicted on federal charges for drugs, money laundering Rivetti commended the Drug Enforcement Administration, United States Postal Service–Office of Inspector General, United States Postal Inspection Service, Homeland Security Investigations, Internal Revenue Service-Criminal Investigation, Pittsburgh Bureau of Police, and Pennsylvania State Police for the investigation leading to the successful prosecution of United States Attorney Jonathan D. Lusty prosecuted this case on behalf of thegovernment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
