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May 29, 2025

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In this video, Joe analyzes which sectors to focus on when selecting new stocks. He demonstrates how to use the 18-period simple moving average (SMA) on monthly, weekly, and daily charts to identify the strongest stock patterns and the best timeframes to trade. He then provides chart analysis on the QQQ, IWM, and Bitcoin, before reviewing this week’s symbol requests submitted by viewers.

The video premiered on May 28, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

The platinum price has surged over 20 percent year-to-date, propelled by a sharp rebound in Chinese demand and a tightening global supply picture that analysts say may signal a prolonged market deficit.

On May 23, platinum closed at US$1,098.40 per ounce, its highest level since May 2023, and a 22 percent increase from its year-to-date low US$892, seen on April 8. The rally, which has accelerated in recent weeks, comes amid renewed investor interest in precious metals, stark supply-side constraints and a changing global demand profile.

China has emerged as a key force behind platinum’s surge, with imports in April jumping 47 percent month-on-month to 10 metric tons, the highest in a year, according to Chinese Customs data.

“In the first quarter of this year alone, given the exceptionally high gold price, gold jewelry sales in China were down 32 percent year-on-year, and platinum jewelry sales were up 26 percent,” he emphasized.

Gold touched US$3,500 per ounce last month, pricing many Chinese buyers out of the market. Platinum, currently trading at a significant discount, is increasingly being seen as an attractive alternative, both for investment and jewelry.

“China’s a market that can pivot really quickly,” Sterck added, noting that platinum bars, coins and jewelry are now being marketed aggressively across social media platforms like TikTok.

This renewed Chinese interest aligns with broader structural issues in the platinum-group metals (PGMs) market, as detailed in a recent report by research firm Metals Focus. It notes that all five PGMs — platinum, palladium, rhodium, iridium and ruthenium — ended last year in physical deficit. Platinum alone saw a second consecutive year of shortfall, with Metals Focus placing total global production at 5.77 million ounces, still well below the 2010 to 2021 annual average.

Behind the deficit lies a mix of supply disruptions, weak mine productivity and building demand.

Sterck underscored the severity of the shortfall seen in Q1, saying it was the largest in six years. It was driven by flooding in South Africa, smelter outages in Zimbabwe and operational restructuring in North America.

Even though South African output rose above 4 million ounces for the first time since 2021, much of that gain was attributed to the release of built-up work-in-process inventories rather than fresh production.

The constrained supply has had ripple effects across investment channels. Platinum secondary supply — which primarily comes from recycled jewelry and autocatalysts — rose just 1 percent last year.

In Asia, jewelry recycling volumes fell, and while autocatalyst recycling improved 9 percent due to higher scrappage rates and incentives in China, it remained insufficient to close the gap.

When it comes to demand, the auto sector, traditionally the largest consumer of PGMs, saw overall fabrication demand fall 4 percent to 12.14 million ounces in 2024. This decline marked the first drop since the COVID-19 pandemic, and was largely due to a 2 percent decrease in catalyzed vehicle production amid the rise of battery electric vehicles.

Industrial demand, on the other hand, was under pressure, falling 2 percent year-on-year. The biggest hit came from a 27 percent drop in chemical applications, particularly in China’s paraxylene sector, a key component in plastic production.

Against this backdrop, speculative positions in platinum have also helped drive recent price movements.

Sterck explained that in the first quarter of 2025, a confluence of market expectations and policy shifts — particularly related to US import tariffs — created arbitrage opportunities for traders.

“There was a lot of uncertainty as to whether tariffs would apply to platinum and other PGMs,” he explained, adding that the flow of metal into the US caused strong contangos in NYMEX futures markets, boosting Q1 investment figures.

Although aboveground stocks of platinum remain elevated, they are being gradually drawn down, and continued mine cutbacks could eventually tip the market further into deficit territory.

Sterck tempered this outlook with caution: “It feels like, as that range is pinching out, we’re definitely getting to a point where it seems highly likely the price will begin to reflect the underlying deficits. So we’ll have to wait and see.”

Metals Focus projects an average platinum price of US$970 for 2025 — a modest increase from last year’s average — but notes that volatility could return if investor sentiment sharpens or supply disruptions worsen.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

2025 PROGRAM

  • Drilling is now underway with three rigs

    Conversion of inferred resources into indicated & further exploration drilling.

  • Updated mineral resource end of Q2
  • Ongoing metallurgical work, focusing on flowsheet optionality with sulphide oxidation is a key part of our strategy to maximize the potential of the resource.

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) (‘Freegold’ or the ‘Company ‘) is pleased to announce that three drill rigs are now operational at Golden Summit. One rig is situated in the WOW Zone (Holes GS2502, GS2505), another is operating in the Cleary Zone (Holes GS2501, GS2503), and a third is in the Dolphin Zone (GS2504). A fourth rig is anticipated to begin in early summer.

The 2025 drilling program aims to upgrade inferred mineral resources to indicated through targeted infill drilling, along with geotechnical drilling and additional metallurgical test holes. Since 2020, exploration has been highly successful.  With a discovery cost of under $4.00 per ounce and substantially increased grade and tonnage, Golden Summit has grown into one of the most significant undeveloped gold resources in North America .  Ongoing metallurgical tests indicate that a substantial portion of the mineralization is non-refractory and can be processed conventionally, although further processing of sulfides is necessary for optimal recoveries.

The September 2024 resource estimate, based on a gold price of US$1,973 , includes a flowsheet comprising grinding, gravity separation, flotation, regrinding of sulfide concentrate, and CIL treatment, achieving a 72% recovery rate at a processing cost of $14 per ton. To increase recoveries, additional sulfide processing (oxidation) is beneficial; however, this will increase costs, which higher gold recovery and higher gold prices could well offset.

Current metallurgical programs are aimed at refining the flowsheet options available for evaluation in a pre-feasibility study, including testing of sulphide-oxidizing methods such as BIOX®, POX, and Albion Process. Earlier this year, Freegold reported 93% recovery using the Albion Process. Earlier this year, Freegold reported 93% recovery using the Albion Process TM oxidation-CIL, with further test work ongoing.  Comminution tests using half PQ core have been conducted on over 50 samples from various locations and lithologies within the deposit to determine the trade-off between grind size and liberation versus power consumption with a view to optimizing power requirements and gold recoveries.

An updated mineral resource estimate based on the 2024 drilling is expected to be completed in the second quarter of 2025.

Link to the Plan Map

https://freegoldventures.com/site/assets/files/6287/pr-2025-drilling-20250529.jpg

HQ Core is logged, photographed and cut in half using a diamond saw, and one-half placed in sealed bags for preparation and subsequent geochemical analysis by MSA Laboratories in Prince George, BC .  At MSALABS, the entire sample will be dried and crushed to 70% passing -2mm (CRU-CPA). A ~500g riffle split will be analyzed for gold using CHRYSOS PhotonAssay (CPA-Au1). From this, 250g will be further riffle split from the original PhotonAssay sample, pulverized, and a 0.25g sub-sample analysed for multi-element geochemistry using MSA’s IMS230 package, which includes 4-acid digestion and ICP-MS finish. MSALABS operates under ISO/IEC 17025 and ISO 9001 certified quality systems. A QA/QC program includes laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited  
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

For further information:

Kristina Walcott
President and CEO
Telephone: 1.604.662.7307
jkw@freegoldventures.com

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold’s Annual Information Form for the year ended December 31st, 2024 , filed under Freegold’s profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold’s operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect   on Freegold’s business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/29/c3673.html

News Provided by Canada Newswire via QuoteMedia

This post appeared first on investingnews.com

Coelacanth Energy Inc. (TSXV: CEI) (‘Coelacanth’ or the ‘Company’) is pleased to announce its financial and operating results for the three months ended March 30, 2025. All dollar figures are Canadian dollars unless otherwise noted.

FINANCIAL RESULTS Three Months Ended
  March 31
($000s, except per share amounts)  2025   2024   % Change   
       
Oil and natural gas sales 2,666 3,666 (27 )
       
Cash flow from operating activities 981 3,256 (70 )
Per share – basic and diluted (1) 0.01 (100 )
       
Adjusted funds flow (used) (1) (1,440 ) 1,078 (234 )
Per share – basic and diluted (- ) (- )
       
Net loss (3,617 ) (1,201 ) 201
Per share – basic and diluted (0.01 ) (- ) 100
       
Capital expenditures (1) 25,701 1,263 1,935
       
Adjusted working capital (deficiency) (1) (25,710 ) 67,139 (138 )
       
Common shares outstanding (000s)      
Weighted average – basic and diluted 531,445 529,196
       
End of period – basic 532,202 529,392 1
End of period – fully diluted 624,877 618,165 1​

 

(1) See ‘Non-GAAP and Other Financial Measures’ section.

  Three Months Ended
OPERATING RESULTS (1) March 31
   2025   2024   % Change   
       
Daily production (2)      
Oil and condensate (bbls/d) 184 300 (39 )
Other NGLs (bbls/d) 25 37 (32 )
Oil and NGLs (bbls/d) 209 337 (38 )
Natural gas (mcf/d) 3,311 3,934 (16 )
Oil equivalent (boe/d) 761 993 (23 )
       
Oil and natural gas sales      
Oil and condensate ($/bbl) 90.21 85.30 6
Other NGLs ($/bbl) 38.01 34.79 9
Oil and NGLs ($/bbl) 84.03 79.82 5
Natural gas ($/mcf) 3.65 3.40 7
Oil equivalent ($/boe) 38.94 40.57 (4 )
       
Royalties      
Oil and NGLs ($/bbl) 15.95 20.77 (23 )
Natural gas ($/mcf) 0.64 0.51 25
Oil equivalent ($/boe) 7.18 9.08 (21 )
       
Operating expenses      
Oil and NGLs ($/bbl) 10.63 9.89 7
     Natural gas ($/mcf) 1.77 1.65 7
     Oil equivalent ($/boe) 10.63 9.89 7
       
Net transportation expenses (3)      
Oil and NGLs ($/bbl) 2.27 2.45 (7 )
Natural gas ($/mcf) 0.78 0.68 15
Oil equivalent ($/boe) 4.00 3.54 13
       
Operating netback (3)      
Oil and NGLs ($/bbl) 55.18 46.71 18
Natural gas ($/mcf) 0.46 0.56 (18 )
Oil equivalent ($/boe) 17.13 18.06 (5 )
       
Depletion and depreciation ($/boe) (14.30 ) (14.42 ) (1 )
General and administrative expenses ($/boe) (21.76 ) (13.86 ) 57
Share based compensation ($/boe) (18.46 ) (10.11 ) 83
Finance expense ($/boe) (12.86 ) (1.06 ) 1,113
Finance income ($/boe) 1.46 10.60 (86 )
Unutilized transportation ($/boe) (4.05 ) (2.49 ) 63
Net loss ($/boe) (52.84 ) (13.28 ) 298

 

(1) See ‘Oil and Gas Terms’ section.
(2) See ‘Product Types’ section.
(3) See ‘Non-GAAP and Other Financial Measures’ section.

Selected financial and operational information outlined in this news release should be read in conjunction with Coelacanth’s unaudited condensed interim financial statements and related Management’s Discussion and Analysis (‘MD&A’) for the three months ended March 31, 2025, which are available for review under the Company’s profile on SEDAR+ at www.sedarplus.ca.

OPERATIONS UPDATE

Coelacanth has reached a major milestone in its development with the completion of the Two Rivers East facility (the ‘Facility’). The Facility was completed on budget and has moved to the testing and start-up phase. The capacity of the Facility is currently 8,000 boe/d but will be expanded in Q4 2025 to 16,000 boe/d with added compression. We expect production to start flowing imminently from the 5-19 pad and ramp up through the summer. As previously released, the 5-19 pad has 9 wells that tested over 11,000 boe/d (1) that will be brought on systematically to approach the phase I capacity of the plant prior to further drilling.

Over the next few years, Coelacanth will continue with its business plan that incorporates:

  1. Systematically developing the resource using pad development and horizontal multi-frac technology to increase production and maximize cash flow and investment returns.
  2. Delineating the lands with vertical and horizontal wells to help in quantifying and understanding the commerciality of its large Montney resource base that includes up to four Montney benches over its 150 contiguous sections of land.
  3. Developing and licensing a flexible infrastructure plan that will allow for the resource to be scaled to a much larger production base.

Coelacanth has licensed additional locations on the 5-19 pad, is in the process of licensing additional development pads, delineation locations and additional infrastructure to grow beyond current plant capacity. While commodity prices and available capital will dictate the pace of execution of the business plan, we are very pleased with the results to date and look forward to reporting on new developments as they arise.

(1) See ‘Test Results and Initial Production Rates’ section for more details.

OIL AND GAS TERMS

The Company uses the following frequently recurring oil and gas industry terms in the news release:

Liquids

Bbls Barrels
Bbls/d Barrels per day
NGLs Natural gas liquids (includes condensate, pentane, butane, propane, and ethane)
Condensate Pentane and heavier hydrocarbons 

 

Natural Gas

Mcf Thousands of cubic feet
Mcf/d Thousands of cubic feet per day
MMcf/d Millions of cubic feet per day
MMbtu Million of British thermal units
MMbtu/d Million of British thermal units per day

 

Oil Equivalent

Boe Barrels of oil equivalent
Boe/d Barrels of oil equivalent per day

 

Disclosure provided herein in respect of a boe may be misleading, particularly if used in isolation. A boe conversion rate of six thousand cubic feet of natural gas to one barrel of oil equivalent has been used for the calculation of boe amounts in the news release. This boe conversion rate is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

NON-GAAP AND OTHER FINANCIAL MEASURES

This news release refers to certain measures that are not determined in accordance with IFRS (or ‘GAAP’). These non-GAAP and other financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other entities. The non-GAAP and other financial measures should not be considered alternatives to, or more meaningful than, financial measures that are determined in accordance with IFRS as indicators of the Company’s performance. Management believes that the presentation of these non-GAAP and other financial measures provides useful information to shareholders and investors in understanding and evaluating the Company’s ongoing operating performance, and the measures provide increased transparency to better analyze the Company’s performance against prior periods on a comparable basis.

Non-GAAP Financial Measures

Adjusted funds flow (used)
Management uses adjusted funds flow (used) to analyze performance and considers it a key measure as it demonstrates the Company’s ability to generate the cash necessary to fund future capital investments and abandonment obligations and to repay debt, if any. Adjusted funds flow (used) is a non-GAAP financial measure and has been defined by the Company as cash flow from operating activities excluding the change in non-cash working capital related to operating activities, movements in restricted cash deposits and expenditures on decommissioning obligations. Management believes the timing of collection, payment or incurrence of these items involves a high degree of discretion and as such may not be useful for evaluating the Company’s cash flows. Adjusted funds flow (used) is reconciled from cash flow from operating activities as follows:

  Three Months Ended
  March 31
($000s)  2025   2024   % Change   
Cash flow from operating activities  981 3,256 (70 )
Add (deduct):      
Decommissioning expenditures 139 148 (6 )
Change in restricted cash deposits 424 (100 )
Change in non-cash working capital (2,560 ) (2,750 ) (7 )
Adjusted funds flow (used) (non-GAAP) (1,440 ) 1,078 (234 )

 

Net transportation expenses
Management considers net transportation expenses an important measure as it demonstrates the cost of utilized transportation related to the Company’s production. Net transportation expenses is calculated as transportation expenses less unutilized transportation and is calculated as follows:

  Three Months Ended
  March 31
($000s)  2025   2024 
Transportation expenses 551 545
Unutilized transportation (277 ) (225 )
Net transportation expenses (non-GAAP) 274 320

 

Operating netback
Management considers operating netback an important measure as it demonstrates its profitability relative to current commodity prices. Operating netback is calculated as oil and natural gas sales less royalties, operating expenses, and net transportation expenses and is calculated as follows:

  Three Months Ended
  March 31
($000s)  2025   2024 
Oil and natural gas sales 2,666 3,666
Royalties (491 ) (821 )
Operating expenses (728 ) (894 )
Net transportation expenses (274 ) (320 )
Operating netback (non-GAAP) 1,173 1,631

 

Capital expenditures
Coelacanth utilizes capital expenditures as a measure of capital investment on property, plant, and equipment, exploration and evaluation assets and property acquisitions compared to its annual budgeted capital expenditures. Capital expenditures are calculated as follows:

  Three Months Ended
  March 31
($000s)  2025   2024 
Capital expenditures – property, plant, and equipment 668 393
Capital expenditures – exploration and evaluation assets 25,033 870
Capital expenditures (non-GAAP) 25,701 1,263

 

Capital Management Measures

Adjusted working capital
Management uses adjusted working capital (deficiency) as a measure to assess the Company’s financial position. Adjusted working capital is calculated as current assets and restricted cash deposits less current liabilities, excluding the current portion of decommissioning obligations.

($000s) March 31,
2025 
  December 31, 2024   
Current assets 3,431 11,579
Less:     
Current liabilities  (36,009 ) (37,234 )
Working capital deficiency (32,578 ) (25,655 )
Add:     
Restricted cash deposits 4,900 4,900
Current portion of decommissioning obligations 1,968 2,118
Adjusted working capital deficiency (Capital management measure) (25,710 ) (18,637 )

 

Non-GAAP Financial Ratios

Adjusted Funds Flow (Used) per Share
Adjusted funds flow (used) per share is a non-GAAP financial ratio, calculated using adjusted funds flow (used) and the same weighted average basic and diluted shares used in calculating net loss per share.

Net transportation expenses per boe
The Company utilizes net transportation expenses per boe to assess the per unit cost of utilized transportation related to the Company’s production. Net transportation expenses per boe is calculated as net transportation expenses divided by total production for the applicable period.

Operating netback per boe
The Company utilizes operating netback per boe to assess the operating performance of its petroleum and natural gas assets on a per unit of production basis. Operating netback per boe is calculated as operating netback divided by total production for the applicable period.

Supplementary Financial Measures

The supplementary financial measures used in this news release (primarily average sales price per product type and certain per boe and per share figures) are either a per unit disclosure of a corresponding GAAP measure, or a component of a corresponding GAAP measure, presented in the financial statements. Supplementary financial measures that are disclosed on a per unit basis are calculated by dividing the aggregate GAAP measure (or component thereof) by the applicable unit for the period. Supplementary financial measures that are disclosed on a component basis of a corresponding GAAP measure are a granular representation of a financial statement line item and are determined in accordance with GAAP.

PRODUCT TYPES

The Company uses the following references to sales volumes in the news release:

Natural gas refers to shale gas
Oil and condensate refers to condensate and tight oil combined
Other NGLs refers to butane, propane and ethane combined
Oil and NGLs refers to tight oil and NGLs combined
Oil equivalent refers to the total oil equivalent of shale gas, tight oil, and NGLs combined, using the conversion rate of six thousand cubic feet of shale gas to one barrel of oil equivalent.

The following is a complete breakdown of sales volumes for applicable periods by specific product types of shale gas, tight oil, and NGLs:

  Three Months Ended
  March 31
Sales Volumes by Product Type  2025   2024 
     
Condensate (bbls/d)                      18                      19
Other NGLs (bbls/d)                      25                      37
NGLs (bbls/d)                      43                      56
     
Tight oil (bbls/d)                    166                    281
Condensate (bbls/d)                      18                      19
Oil and condensate (bbls/d)                    184                    300
Other NGLs (bbls/d)                      25                      37
Oil and NGLs (bbls/d)                    209                    337
     
Shale gas (mcf/d)                 3,311                 3,934
Natural gas (mcf/d)                 3,311                 3,934
     
Oil equivalent (boe/d)                    761                    993

 

TEST RESULTS AND INITIAL PRODUCTION RATES

The 5-19 Lower Montney well was production tested for 9.4 days and produced at an average rate of 377 bbl/d oil and 2,202 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The A5-19 Basal Montney well was production tested for 5.9 days and produced at an average rate of 117 bbl/d oil and 630 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The B5-19 Upper Montney well was production tested for 6.3 days and produced at an average rate of 92 bbl/d oil and 2,100 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The C5-19 Lower Montney well was production tested for 5.8 days and produced at an average rate of 736 bbl/d oil and 2,660 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The D5-19 Lower Montney well was production tested for 12.6 days and produced at an average rate of 170 bbl/d oil and 580 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The E5-19 Lower Montney well was production tested for 11.4 days and produced at an average rate of 312 bbl/d oil and 890 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure was stable, and production was starting to decline.

The F5-19 Lower Montney well was production tested for 4.9 days and produced at an average rate of 728 bbl/d oil and 1,607 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The G5-19 Lower Montney well was production tested for 7.1 days and produced at an average rate of 415 bbl/d oil and 1,489 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The H5-19 Lower Montney well was production tested for 8.1 days and produced at an average rate of 411 bbl/d oil and 1,166 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure was stable and production was starting to decline.

A pressure transient analysis or well-test interpretation has not been carried out on these nine wells and thus certain of the test results provided herein should be considered to be preliminary until such analysis or interpretation has been completed. Test results and initial production rates disclosed herein, particularly those short in duration, may not necessarily be indicative of long-term performance or of ultimate recovery.

Any references to peak rates, test rates, IP30, IP90, IP180 or initial production rates or declines are useful for confirming the presence of hydrocarbons, however, such rates and declines are not determinative of the rates at which such wells will continue production and decline thereafter and are not indicative of long-term performance or ultimate recovery. IP30 is defined as an average production rate over 30 consecutive days, IP90 is defined as an average production rate over 90 consecutive days and IP180 is defined as an average production rate over 180 consecutive days. Readers are cautioned not to place reliance on such rates in calculating aggregate production for the Company.

FORWARD-LOOKING INFORMATION

This document contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘believe’, ‘intends’, ‘forecast’, ‘plans’, ‘guidance’ and similar expressions are intended to identify forward-looking statements or information.

More particularly and without limitation, this news release contains forward-looking statements and information relating to the Company’s oil and condensate, other NGLs, and natural gas production, capital programs, and adjusted working capital. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions relating to prevailing commodity prices and exchange rates, applicable royalty rates and tax laws, future well production rates, the performance of existing wells, the success of drilling new wells, the availability of capital to undertake planned activities, and the availability and cost of labour and services.

Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, it can give no assurance that such expectations will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs, and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in tax, royalty, and environmental legislation. The forward-looking statements and information contained in this document are made as of the date hereof for the purpose of providing the readers with the Company’s expectations for the coming year. The forward-looking statements and information may not be appropriate for other purposes. The Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Coelacanth is an oil and natural gas company, actively engaged in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada.

Further Information

For additional information, please contact:

Coelacanth Energy Inc.
Suite 2110, 530 – 8th Avenue SW
Calgary, Alberta T2P 3S8
Phone: (403) 705-4525
www.coelacanth.ca

Mr. Robert J. Zakresky
President and Chief Executive Officer

Mr. Nolan Chicoine
Vice President, Finance and Chief Financial Officer

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253761

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Investorideas.com, a global investor news source covering gold and silver stocks presents a mining snapshot highlighting news from silver miners, from expanded land packages to acquisitions, featuring Apollo Silver Corp. (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0).

Silver Stocks and the Land Grab for Silver Assets

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The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California, and its option on the Cinco de Mayo Project, in Chihuahua, Mexico.

With strong demand and a supply deficit since 2021, silver miners are actively acquiring land and developing projects to increase production and address the shortfall.

In line with the sector’s growth strategy, Apollo Silver Corp. (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0) recently announce it has acquired 2,215 hectares of highly prospective claims contiguous to its Waterloo property at its Calico Silver Project.

From the news:
The newly acquired claims, referred to as the Mule claims, comprise 415 lode mining claims and were acquired from LAC Exploration LLC, a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), which was the previous operator of the property. Preliminary mapping and sampling conducted by the previous operator of the Mule claims identified several high-grade silver targets, which will be evaluated as part of Apollo’s future exploration planning.

Additionally, a mapping and sampling program was recently completed at the Burcham gold prospect area in the southwest region of the Waterloo property (see news release dated February 12, 2025). This program confirmed the Calico fault system’s role in controlling silver (Ag) and gold (Au) mineralization in the area and identified potential for copper (Cu), zinc (Zn), and lead (Pb) mineralization associated with stratabound and manto lenses.

Highlights:

Mule claims expand the Calico Project land package by over 285%, from 1,194 hectares to 3,409 hectares of contiguous claims.

Mule claims trend along the mineralized Calico Fault System responsible for mineralization seen at Calico.

Reports from the prior operator indicate that there are several strongly anomalous silver values on the property, which Apollo will attempt to ground-truth in the coming exploration programs.

Sampling done across the Mule claims by previous operator has identified a large Ag anomaly associated with the same suite of host rocks at the Waterloo property.

Exploration at the Burcham prospect at Waterloo included assays from 27 surface samples:

Assay peaks up to 14.10 g/t Au, 20.70 g/t Ag, 0.17% Cu, 22.80% Zn and 5.74 % Pb from various samples.

Identification of strata-bound lenses and mantos that show strong potential for Cu, Zn and Pb mineralization.

Ross McElroy, President and CEO of Apollo commented, ‘The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts three discrete drill-delineated zones with resource estimates along a 4-km-long trend within the Calico fault zone. The Mule claims increase the project’s land area by 2.5 times, strategically located to the east along this highly prospective mineralized corridor, offering significant potential for further discoveries. Apollo is committed to unlocking value in California for our shareholders.’

The Mule claims, comprising 415 lode mining claims administered by the Bureau of Land Management, feature a continuation of the mineralized Calico Fault System, as identified through mapping and sampling by the previous operator. The sedimentary rocks of the Barstow Formation, which hosts the Waterloo silver deposit and the volcanic Pickhandle Formation are prevalent across the acquired claims. The contact between the Barstow and Pickhandle Formations has demonstrated potential for gold mineralization, similar to that at Waterloo. Sampling across the Mule claims has identified several strong Ag and Au anomalies. Apollo plans to conduct a follow-up exploration program to develop exploration targets and delineate this highly prospective contact.

Earlier this month, Pan American Silver Corp. and MAG Silver Corp announced a definitive agreement for Pan American to acquire all issued and outstanding common shares of MAG through a plan of arrangement. MAG, a tier-one primary silver mining company, holds a 44% joint venture interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc, which holds the remaining 56% interest in the joint venture.

More from the news:
Under the terms of the transaction, MAG shareholders will receive total consideration of approximately $2.1 billion, equivalent to $20.54 per MAG share, based on the closing price of Pan American’s common shares on the New York Stock Exchange (NYSE) on May 9, 2025. The consideration comprises $500 million in cash and 0.755 Pan American shares per MAG share, subject to proration. This represents premiums of approximately 21% and 27% to the closing price and 20-day volume-weighted average price (VWAP) of MAG’s common shares on the NYSE American (NYSEAM) as of May 9, 2025. Upon completion, existing MAG shareholders will own approximately 14% of Pan American’s shares on a fully diluted basis, benefiting from participation in a larger, diversified, and growth-oriented silver and gold producer.

Michael Steinmann, President and CEO of Pan American commented: ‘Our acquisition of MAG brings into Pan American’s portfolio one of the best silver mines in the world. Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American’s exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG’s Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer. We would like to thank the Fresnillo and the Juanicipio management teams for the constructive interactions and impressive site visit. Together, we bring many decades of operator experience in Mexico and Latin America to the Joint Venture and we are looking forward to a collaborative future and value generation for all shareholders involved.’

George Paspalas, President and CEO of MAG commented, ‘This transaction represents a compelling opportunity for our shareholders, providing an immediate premium and meaningful exposure to Pan American’s world-class assets and proven growth strategy. We are proud of what we’ve accomplished at MAG, particularly our partnership with Fresnillo which has created extraordinary value at the exceptional Juanicipio mine. Through the acquisition of our interest by Pan American – a respected leader in the global precious metals industry – our shareholders will participate in an exciting future defined by operational excellence, substantial exploration potential, and strong financial stewardship with significant portfolio exposure.’

Dolly Varden Silver Corporation recently announced that, following its news release dated May 5, 2025, it has completed the acquisition of the Kinskuch Property in northwest British Columbia’s Golden Triangle.

From the news:
The Kinskuch Property is adjacent to the Company’s Kitsault Valley Project and dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle.

Dolly Varden completed its acquisition of the Kinskuch Property from Hecla Mining Company for consideration of $5 million, which was satisfied by Dolly Varden issuing 1,351,963 common shares of the Company to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch Property area (the ‘NSR’). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden’s Technical Committee, working together to unlock the potential of the underexplored areas.

The year began with a significant development for the sector when, in January, First Majestic Silver Corp. and Gatos Silver, Inc. announced the completion of First Majestic’s acquisition of Gatos Silver under the agreement and plan of merger, as detailed in their joint news release dated September 5, 2024.

More from the news:
On Tuesday, January 14, 2025, both First Majestic and Gatos Silver announced that they received all necessary shareholder approvals at the respective special meetings of each company’s shareholders. Approximately 98.44% of the votes cast at the special meeting of First Majestic’s shareholders were voted in favour and approximately 99.23% of the votes cast at the special meeting of Gatos Silver’s stockholders were voted in favour.

Under the terms of the Merger Agreement, First Majestic has acquired all of the issued and outstanding shares of common stock of Gatos Silver and Gatos Silver is now a wholly-owned subsidiary of First Majestic. Stockholders of Gatos Silver will receive 2.55 First Majestic common shares for each Gatos Silver Share held, and cash in lieu of fractional First Majestic Shares .

‘With the closing of this transaction, First Majestic is integrating a high-quality, long-life, positive-free-cash-flow operation into our portfolio of producing mines in Mexico. Cerro Los Gatos is truly a world-class district with robust production and cost efficiency, combined with significant exploration potential,’ said Keith Neumeyer, President and CEO. ‘Over the coming quarters, we will communicate our plans for Cerro Los Gatos, including strategies to realize synergies and integration throughout the business. I take this opportunity to personally welcome Gatos Silver shareholders into First Majestic as we create the industry’s leading intermediate primary silver producer. Finally, I welcome our joint venture partner, Dowa Metals and Mining, with whom we look forward to working closely at Cerro Los Gatos as a supportive and trusted partner.’

These acquisitions underscore the growing trend of land asset expansion and consolidation among silver miners.

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Blue Lagoon Resources Inc. (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) (the ‘Company’) is pleased to announce that President & CEO Rana Vig will be attending and presenting at The Mining Investment Event of the North, Canada’s premier mining investment conference, taking place June 3-5, 2025, in Québec City.

Mr. Vig will meet with institutional investors, fund managers, and analysts from across North America and abroad to present the Company’s progress toward gold production that is expected to commence this summer at its high-grade Dome Mountain Gold Project, featuring an average grade of 9 grams per tonne (g/t) and located in one of the best mining jurisdictions in the world, just outside Smithers, British Columbia.

‘With Dome Mountain fully permitted and scheduled to begin production this summer, we are entering an exciting phase of growth,’ said Mr. Vig. ‘We’re one of the few junior gold companies positioned to generate near-term cash flow in a rising gold market, while offering significant long-term upside through exploration.’

The three-day event brings together a curated group of emerging and established mining companies for targeted one-on-one meetings and panel discussions with leading investors and industry experts. Participation supports Blue Lagoon’s strategy to actively expand its investor base and raise awareness of its uniquely positioned project.

About Blue Lagoon Resources Inc.

Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) focused on building shareholder value through the aggressive development of its 100% owned Dome Mountain Gold project. The Company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full mining permit, a key milestone achieved in February 2025 – one of only nine such permits issued in British Columbia since 2015 – Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain Gold Mine, targeting Q3 2025 as the start of gold production. The Company’s primary objective has always been to become a cash-flowing mining company, to ultimately deliver tangible monetary value to shareholders, state, and local communities.

The Company is not basing its production decision at Dome Mountain on a feasibility study of mineral reserves demonstrating economic and technical viability. The production decision is based on having existing mining infrastructure, past bulk sampling and processing activity, and the established mineral resource. The Company understands that there is increased uncertainty, and consequently a higher risk of failure, when production is undertaken in advance of a feasibility study.

For further information, please contact:

Rana Vig
President and CEO
Telephone: 604-218-4766
Email: ranavig@bluelagoonresources.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the ‘Company’) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘targets’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’, ‘mine’, ‘production’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management, contractors and consultants on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s, contractor’s and consultants’ beliefs, estimates or opinions, or other factors, should change.

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Secretary of State Marco Rubio announced Wednesday the U.S. will begin ‘aggressively’ revoking visas of Chinese students.

‘Under President Donald Trump’s leadership, the U.S. State Department will work with the Department of Homeland Security to aggressively revoke visas for Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields,’ Rubio wrote in a statement. 

The State Department will also revise visa criteria to enhance scrutiny of all future visa applications from the People’s Republic of China and Hong Kong.

In March, House Republicans introduced the Stop Chinese Communist Prying by Vindicating Intellectual Safeguards in Academia Act, also known as the Stop CCP VISAs Act.

In an interview with FOX Business May 12, U.S. Sen. Ashley Moody, R-Fla., criticized providing student visas to Chinese nationals, citing a Stanford University report that uncovered the Chinese Communist Party’s alleged activity on U.S. college campuses.

The report, published by the Stanford Review, detailed an incident in which a man posing as a Stanford student targeted women at the university to gather intelligence for the Chinese Ministry of State Security.

‘How can we keep offering 300,000 student visas to Chinese nationals every year when we KNOW they are legally required to gather intelligence for the CCP? The answer is simple: we can’t,’ Moody wrote in a post on X. ‘@StanfordReview’s report on CCP espionage on campus should shock everyone and verify what I have been saying. We need to pass my STOP CCP Visas Act to protect our national security.’

Along with the new Chinese national policy, Rubio announced new visa restrictions Wednesday on foreigners ‘complicit’ in censoring Americans.

‘For too long, Americans have been fined, harassed, and even charged by foreign authorities for exercising their free speech rights,’ Rubio wrote in a post. ‘Today, I am announcing a new visa restriction policy that will apply to foreign officials and persons who are complicit in censoring Americans.

‘Free speech is essential to the American way of life – a birthright over which foreign governments have no authority.’

The White House did not immediately respond to Fox News Digital’s request for comment.

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Since his first day in office, President Donald Trump has mismanaged negotiations over an end to the war in Ukraine. More than 100 days later, innocent Ukrainians are still dying while the president gets played by Russian President Vladimir Putin – illustrated starkly by the barrages of drones and missiles continually aimed at Ukrainian cities as Trump posts online. 

It’s good to hear Trump finally express some frustration toward Putin and admit that his negotiating tactics aren’t working, that, as he says, Putin is ‘just tapping me along, and has to be dealt with differently.’ The reasons for this aren’t complicated. Instead of increasing his leverage over Russa, Trump offered concession after concession before talks even began. 

Getting U.S. policy right in Ukraine matters. If we allow Russia to end these negotiations as the victor, our NATO allies in Poland and the Baltics could be next. China’s President Xi Jinping will draw clear lessons from our capitulation as China plots a takeover of Taiwan. And would-be aggressors the world over will see that the international order that — while imperfect — has created stability and prosperity in much of the world has ended.  

Sadly, Trump is unlikely to listen to me, to our allies, or even to reasonable voices within his own White House and administration. My hope, though, is that he will be guided by the concepts from his own playbook — ‘The Art of the Deal’ — to secure a just peace and end this war. 

Fight back 

Donald Trump says never let yourself be pushed around — but that’s exactly what Putin is doing to him. When Trump proposed an unconditional ceasefire, Putin delayed and then shot a missile at a playground full of children. When Trump threatened additional sanctions if Putin didn’t agree to a ceasefire, Putin blew past Trump’s demands without consequence. 

Instead of continuing to get pushed around, the president should heed his own words: ‘You do your thing, you hold your ground, you stand up tall, and whatever happens, happens.’ Backing down now by threatening to walk away from talks is incentivizing Putin. This weakness invites Russian and Chinese aggression because an easy deal today undermines security for Europe, Taiwan and the United States tomorrow.  

Trump should increase sanctions — not just threaten them — and provide continued security assistance and intelligence sharing to Ukraine to sustain its war efforts against Russia. We should also reconsider Ukraine’s interest in NATO membership to apply all points of pressure on Putin.  

Use your leverage 

Russia’s economy is in real trouble with hundreds of thousands of Russians having been killed or wounded on the front lines. Putin needs this war to end. I couldn’t agree more with Trump when he wrote: ‘The worst thing you can possibly do in a deal is seem desperate to make it. That makes the other guy smell blood, and then you’re dead.’ 

Trump should not act as though Americans need this war to end more than the Russians do. While everyone wants to see an end to the bloodshed, America must approach these negotiations from a position of strength, so we can secure the best possible deal. Our economy and alliances dwarf those of Russia, which is poorer, more isolated and badly diminished by Putin’s war. 

Trump should also not give away our leverage for nothing and that includes the economic might and political unity of our European partners. Presenting a united front means implementing punishing collective sanctions that have damaged Russia’s economy and thrown sand in its war gears. Acting together with our allies undermines Putin’s agenda in Europe, inflicts the greatest pain on Russia’s economy and significantly limits Russia’s negotiating space. 

Deliver the goods 

Deeds matter more than words. As Trump wrote himself: ‘If you don’t deliver the goods, people will eventually catch on.’ He has deeply weakened decades of American leadership and credibility by abandoning our allies and the rules-based system that allowed for predictability, peace and prosperity for Americans and much of the world.  

The only way to fix America’s credibility is to be decisive and show American strength. An immediate ceasefire allows Trump to deliver on his commitment to the American people and test Russia’s willingness to seek peace. But he should make clear that a stiffer sanctions package, including secondary sanctions outlined in Republican Sen. Lindsey Graham and Democrat Sen. Richard Blumenthal’s legislation, will be imposed imminently. More than 80 senators of both parties have endorsed this bill. He must convince Putin — through bold and decisive action — that continued war is folly. Only then will there be a durable peace that restores deterrence in Europe and allows Ukraine to rebuild.  

Conclusion 

Ukraine’s signing of the mineral deal with the U.S. is a promising step, in contrast to Putin’s recent no-show in Ankara. Trump can re-start peace efforts on his own terms by imposing a stiffer sanctions package on Russia without delay. If he is indeed committed to securing Ukraine’s independent future, Trump must demonstrate that he is in the stronger position. 

But let me be clear: based on its history, the Kremlin is not interested in peace. Whether in Moldova, Georgia or Ukraine, Moscow has demonstrated strategic patience and abused others’ good faith to string out negotiations and then escalate when it sees fit. Simply put, when you give Putin an inch, he will take a mile. The only way to prevent this continued cycle is to secure a peace agreement that retains Ukraine’s national identity and that offers lasting security. Only then will President Trump prevent further aggression that threatens to draw America into future conflict.  

We are in a critical stage of negotiations and whether we get it right or wrong will reverberate for decades. 

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As the White House trims over 100 aides from its National Security Council staff, some former officials and analysts are asking if the smaller team can meet the demands of a fast-moving and dangerous global security environment.

Roughly half of the NSC’s 350-person team will depart in what the White House is calling a ‘right-sizing’ of a historically bureaucratic body composed largely of career diplomats – many of whom are seen as out of step with the president’s agenda.

Aides originally on loan from agencies like the State Department and the Pentagon are being sent back to their home departments. Political appointees placed on administrative leave have been told the White House will find other roles for them elsewhere in the administration.

Some former NSC officials told Fox News Digital it’s too early to tell whether the overhaul will result in a more efficient agency – or one ill-equipped to deliver timely intelligence for national security decisions.

Privately, national security sources questioned whether Secretary of State Marco Rubio, who is currently serving as interim national security advisor, might be paring back the agency to avoid internal power struggles once he returns to his original post.

Michael Allen, a former senior director at the NSC, said the staffing changes reflect President Donald Trump’s desire for direct control over key decisions.

‘I think he wants people to bring decisions to him earlier than previous presidents,’ Allen told Fox News Digital.

The NSC has charted rocky waters since it lost national security advisor Mike Waltz following the inadvertently publicized Signal chat. His deputy, Alex Wong, also recently departed the agency, and other aides who had a large impact on the administration’s early foreign policy decisions were pushed out in Friday’s restructuring.

Eric Trager, the senior director for Middle East issues who traveled with envoy Steve Witkoff for some of his Iran negotiations, is out. So is Andrew Peek, senior director for Europe and Eurasia, who helped coordinate the approach to the Russia-Ukraine conflict. 

Additionally, the restructuring will move Andy Barker, national security advisor to Vice President JD Vance, and Robert Gabriel, assistant to the president for policy, into roles serving as deputy national security advisors. 

‘This happens naturally on NSCs, the kind of stasis we saw in the Biden administration is highly untypical,’ said Victoria Coates, former deputy national security advisor to Trump. 

She noted that President Ronald Reagan had six national security advisors over two terms as president, in addition to two acting NSAs. 

‘For the president, he has legitimate concerns about the NSC from the first term, given what happened, and then, you know, there’s no sugar-coating it: the situation with Signalgate was a problem for NSA Waltz,’ Coates went on. ‘The president is taking actions to get the NSC into a condition that he would have complete confidence in it.’

With a slimmer NSC, the president is expected to lean more heavily on Rubio, CIA Director John Ratcliffe and Director of National Intelligence Tulsi Gabbard for his daily intelligence briefings.

‘One thing that makes this administration unique is that it’s the president himself and a small circle of advisors who truly matter and make decisions,’ said Brian Katulis, a former NSC official and fellow at the Middle East Institute. ‘They just don’t see the need for ongoing interagency meetings like in previous administrations.’

Katulis added that the biggest risk isn’t necessarily a lack of intelligence – but a lack of coordination.

‘Rather than gaps in intel or knowledge, what I’d worry more about is whether different agencies are singing from the same sheet of music,’ he said.

Fox News Digital has reached out to the White House for comment on Friday’s cuts and their intent. 

Others argue that the NSC has become bloated and is in need of a reset.

‘The NSC under Democratic presidents grows to 300, 400 people,’ said former Trump NSC official Alex Gray. ‘It becomes its own department.’

‘When I was there, we took it down to about 110 people doing policy – and it could probably go down another 50 and still be effective,’ he said.

‘Do you want an NSC that formulates and directs policy, or one that gives the president advice, lets him decide, and then implements it? You don’t need hundreds of people to do that.’

But the NSC is the primary agency tasked with making sure other agencies are in line with the president’s agenda. 

‘Rather than preparing options for him, they should take his direction and implement it,’ said Coates.  But, she added, ‘if you take it down too far, it’s not going to have the manpower to implement those directions from the White House into the departments and agencies which are always bigger and better funded than the NSC.’ 

‘How many heads do you have to bash together to get them to do what the president wants them to do? Our experience was in the first term that we needed a fair amount of heft on our end to get them to do stuff they didn’t want to do, like designate the IRGC as an FTO, for example,’ Coates added. 

Even with a leaner staff, the NSC remains responsible for managing critical global challenges – from Iran nuclear talks and the war in Ukraine to military competition with China.

That puts added pressure on Rubio, who will bear the blame if any crucial intelligence slips through the cracks.

‘The big issue is the national security advisor needs to make sure the president has all the information he needs to make a decision,’ Allen said.

Fox News’ Diana Stancy contributed to this report. 

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House Republicans are celebrating Medicaid reform in the One Big Beautiful Bill Act, which the House GOP says eliminates waste, fraud and abuse to deliver for Americans who need coverage most. 

Meanwhile, Democrats have railed against possible Medicaid cuts since President Donald Trump was elected in November. Now that his ‘big, beautiful bill’ has passed in the House of Representatives, Democrats are defining Medicaid cuts as a driving issue ahead of competitive midterm elections in 2026. 

Republicans say there is more to the story. 

‘The One, Big Beautiful Bill puts Americans first. We’re securing the border. We’re protecting benefits for the most vulnerable. We are investing in American manufacturing. We’re investing in our own energy production,’ Rep. Erin Houchin, R-Ind., told Fox News Digital in an exclusive interview. 

‘The Democrats have been focusing on this specific line of attack that 13.7 million Americans are going to lose their health care, and that’s just blatantly false.’

The Congressional Budget Office (CBO), a nonpartisan analysis for the U.S. Congress, estimates that 8.6 million people in the United States will lose health insurance by 2034 through the One Big Beautiful Bill Act’s Medicaid reform. 

‘Five million of those people are receiving a tax credit under the Affordable Care Act that was passed by the Democrats with a sunset date that was implemented by the Democrats. We’re simply allowing the sunset date to expire as the Democrats originally intended,’ Houchin said. 

CBO estimates that 13.7 million Americans will lose coverage by 2034, which also includes the 5 million Americans who were already set to lose coverage. A number of Democrats have already deployed the figure in campaign messages rejecting Trump’s ‘big, beautiful bill’ passing in the House.

‘I don’t trust the CBO score, nor should the American people, because it’s been proven again and again to be wildly off,’ added Houchin, who served on three major committees leading budget markup, including the House Rules, Budget and Energy and Commerce committees. 

The American Accountability Foundation, a conservative government research nonprofit, found that of the 32 staff members on CBO’s Health Analysis Division, 26 of them have ‘clearly’ verified liberal partisan biases, as a Democrat donor, registered Democrat or a Democratic primary voter, as Fox News Digital reported this month. 

The One Big Beautiful Bill Act does not cut Medicaid for the most vulnerable, according to Houchin. Instead, she says targeting waste, fraud and abuse in the Medicaid program cuts benefits to illegal immigrants, those ineligible to receive benefits who are currently receiving benefits, duplicate enrollees in one or more states and those who are able-bodied but are choosing not to work. 

‘If you have to think about the four things that we’re doing in Medicaid to strengthen it, we’re removing anybody that is illegal, ineligible or duplicate, and we’re ensuring that able-bodied adults, on the expansion population, have a very modest work requirement, in exchange for receiving benefits. Those things are overwhelmingly supported by the American people, yet the Democrats continue to lie about what this bill is actually doing,’ Houchin said. 

Republicans say they are cleaning up the program to ensure working families and the most vulnerable Americans can rely on the program for generations to come. 

‘What we’re trying to do is protect precious Medicaid dollars for those who need it most,’ Houchin said. ‘That’s what we’re doing. No one in the traditional Medicaid population needs to worry. And even if you’re in the able-body expansion population, there are many opportunities to comply to participate in Medicaid.’

However, Democrats have already designated Medicaid cuts as a defining issue in 2026. 

‘House Republicans’ giant tax scam will kick millions of people off their health insurance,’ Democratic Congressional Campaign Committee (DCCC) spokesperson Viet Shelton told Fox News Digital. ‘It is fact. Independent analysts say it. Health care professionals say it. Hell, even Republican senators say so. Their saying anything to the contrary is just them trying to protect their already in danger majority.’

After weeks of negotiating through budget reconciliation, House Republicans finally reached a consensus and passed the One Big Beautiful Bill Act last week. The bill passed just 215 to 214, and all Democrats voted against it. Republicans’ slim majority managed to deliver a legislative win for Trump. 

However, the ‘big, beautiful’ fight is far from over as the Senate is tasked with drafting their own version of the bill. Senate Republicans have indicated they do not support the bill in its current form. 

‘I don’t want to see rural hospitals close their doors because funding got cut. I also don’t like the idea of a hidden tax on the working poor. That’s why I’m a NO on this House bill in its current form,’ Sen. Josh Hawley, R-Mo., said. 

The sweeping, multitrillion-dollar legislation advances Trump’s agenda on taxes, immigration, energy, defense and the national debt. The bill includes Trump’s key campaign promises, including no tax on tips and overtime, and it seeks to permanently extend his 2017 Tax Cuts and Jobs Act. 

‘By passing the largest cut to Medicaid in history, Republicans are ripping away health care from millions of Americans and levying a de facto hidden tax on working-class families,’ DCCC Chair Suzan DelBene said in a statement after the bill passed. ‘Now that vulnerable Republicans are on the record voting for it, this betrayal of the American people will cost them their jobs in the midterms and Republicans the House Majority come 2026.’

While Democrats target vulnerable Republicans for supporting Medicaid reform in Trump’s ‘big, beautiful bill,’ Republicans are taking aim at Democrats for voting against the bill’s tax cuts.

‘House Democrats voted for the largest tax increase in generations while giving taxpayer-funded freebies to illegal immigrants. The NRCC will make sure voters don’t forget how they betrayed working families,’ National Republican Campaign Committee (NRCC) spokesman Mike Marinella said in a statement to Fox News Digital. 

As House members return to their home states and communicate with constituents during the congressional recess, the NRCC is encouraging House Republicans to go on the offense on Medicaid reform. 

‘We’re encouraging all of our caucus, our conference members to continue to communicate with the local and national media to reiterate what we know to be true about this One Big Beautiful Bill,’ Houchin said. 

‘It puts Americans first and will ensure that these programs will be around for the next generation, because we’re not wasting any tax dollars, any precious benefits on people who are illegal, ineligible, enrolled in multiple states or are able-bodied and could be working. These programs were designed for our most vulnerable Americans, and the One Big Beautiful Bill protects benefits for those people.’

Fox News Digital’s Elizabeth Elkind and Louis Casiano contributed to this report. 

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