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FPX Nickel Announces Share-Based Compensation Grant

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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (‘ FPX ‘ or the ‘ Company ‘) announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the ‘ Options ‘) to directors, officers and employees of the Company pursuant to the Company’s Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 

 

   

 

 

The Company also granted an aggregate 750,000 restricted share units (the ‘ RSUs ‘) to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company’s website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

 

On behalf of FPX Nickel Corp.

 

‘Martin Turenne’
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

  View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 

 

 

News Provided by Canada Newswire via QuoteMedia

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In Investing

Blue Lagoon Resources Officially Opens Dome Mountain Gold Mine in British Columbia

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(TheNewswire)

 

  

   
 

 

July 11, 2025 TheNewswire – Vancouver, British Columbia Blue Lagoon Resources Inc. (the ‘ Company ‘) (CSE: BLLG,OTC:BLAGF; OTCQB: BLAGF; FSE: 7BL) is pleased to announce the official opening of its wholly owned Dome Mountain Gold Mine Project, that recently received its mining permit making it one of only nine mining permits granted in British Columbia in the past decade – and one of just a few high-grade, road-accessible gold projects to reach production-ready status in recent years.

 

  The celebration, held on July 9, 2025, brought together over 100 guests from across Canada and abroad — including attendees from Germany, South Carolina, Denver, Montana and Toronto — to mark this significant milestone for the Company and the region.  

 

Dignitaries in attendance included the Mayor of Smithers, Gladys Atrill; MLA Sharon Hartwell (Bulkley Valley-Stikine); and MP Ellis Ross (Skeena-Bulkley Valley). Also present were various representatives from the Ministry of Mines and Critical Minerals and other provincial agencies. Minister of Mining and Critical Minerals, Jagrup Brar, was unable to attend in person due to his participation in the annual Conference of Mines Ministers of Canada, held in Prince Edward Island. However, he shared a recorded message acknowledging the importance of the project, which was played during the event. Minister Brar is scheduled to visit and tour the Dome Mountain site later this month.

 

In a powerful display of cultural heritage and support, 18 Hereditary Chiefs and Guardians from the Lake Babine Nation (LBN) joined Hereditary Chief and Council Member Fabian Michell for the opening ceremony, which featured a traditional drum ceremony representing songs from all four LBN clans: Bear, Beaver, Frog, and Caribou.

 

‘We were deeply honoured to stand alongside the Lake Babine Nation, whose presence and participation made this day truly meaningful,’ said Rana Vig, President & CEO of Blue Lagoon Resources. ‘This is more than just the opening of a gold mine — it’s a moment that reflects years of hard work, resilience, and respectful collaboration.’

 

During the two-day event, guests had the opportunity to take underground tours as well as visit the recently completed, state-of-the-art water treatment plant — a key environmental safeguard for the project. The facility has the capacity to treat over six times the current needs at Dome Mountain, ensuring long-term environmental resilience as production scales.

 

With the mine officially open, pre-production work will begin next week, setting up Dome Mountain to   begin mining and transition to near-term cash flow   once the Moving Bed Biofilm Reactor (MBBR) system is commissioned – expected in about four weeks. The two-stage water-treatment facility features a functioning High-Density Sludge (HDS) circuit and the MBBR circuit, which uses microbes to remove blasting-related ammonia and nitrates. The MBBR’s biological ramp-up phase typically takes approximately four weeks. Mining will commence immediately upon the completion of this phase.

 

‘As a geologist, this is a proud moment in my career,’ said Bill Cronk, Chief Geologist and Project Manager at Blue Lagoon Resources. ‘To see a project go from exploration to production — and to be part of that transformation — is something most geologists only dream of. This team made it happen and I’m very proud of that.’

 

The event also welcomed strategic investors and partners, including Dr. Quinton Hennigh, technical advisor to Crescat Capital, and Peter Espig, CEO of Nicola Mining, with whom Blue Lagoon has a long-term toll milling agreement.

 

‘Dome Mountain represents what’s possible when entrepreneurial determination meets responsible mining practices,’ said Peter Espig, CEO of Nicola Mining. ‘We’re proud to support Blue Lagoon in bringing this project to life, and to be part of a partnership grounded in trust, transparency, and technical excellence.’

 

Throughout the event, Blue Lagoon’s highly experienced technical team was on site to answer questions and provide detailed explanations of the mining methods and techniques planned for Dome Mountain. This included Steve Cutler of Roughstock Mining, an accomplished underground mining consultant with decades of experience who has worked on a wide range of underground gold projects across North America. Also present was Peter Bojtos, a professional mining engineer with global experience who has been directly involved in the opening or reopening of 19 mines over the course of his career — making Dome Mountain his 20th. Mr. Bojtos is a current director of Avino Silver & Gold Mines Ltd (formerly Chairman) (ASM:NYSE) and a technical advisor on the Dome Mountain Gold Project.

 

   With pre-production work beginning next week, Blue Lagoon Resources is now positioned to become one of British Columbia’s next producing high-grade gold mines.   

 

  About Blue Lagoon Resources Inc.  

 

  Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG,OTC:BLAGF; 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.  

 

Copyright (c) 2025 TheNewswire – All rights reserved.

 

 

News Provided by TheNewsWire via QuoteMedia

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In Economy

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

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President Donald Trump’s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters.

The broadside by Office of Management and Budget Director Russell Vought opened up a new front in Trump’s war of words against Powell.

Trump has repeatedly called on the Fed chairman to cut interest rates, without success. He reportedly has considered firing Powell and, more recently, publicly naming the chairman’s replacement months earlier than the end of Powell’s term next spring.

Vought’s letter raises the question of whether Trump will seek to remove Powell for cause, at least ostensibly.

But the Supreme Court in a recent decision strongly suggested that Federal Reserve board members have special protection from being fired by a president.

“While continuing to run a deficit since FY23 (the first time in the Fed’s history), the Fed is way over budget on the renovation of its headquarters,” Vought wrote in a post on the social media site X.

“Now up to $2.5 billion, roughly $700 million over its initial cost,” Vought wrote. “The cost per square foot is $1,923–double the cost for renovating an ordinary historic federal building. The Palace of Versailles would have cost $3 billion in today’s dollars!”

Vought’s tweet linked to a letter he sent Powell that referenced the Fed boss’s June 25 testimony before the Senate Banking Committee.

“Your testimony raises serious questions about the project’s compliance with the National Capital Planning Act, which requires that projects like the Fed headquarters renovation be approved by the National Capital Planning Commission,” Vought wrote.

“The plans for this project called for rooftop terrace gardens, VIP private dining rooms and elevators, water features, premium marble, and much more,” he wrote.

But Powell, in his testimony, said, “There’s no VIP dining room. There’s no new marble. There are no special elevators. There are no new water features. There’s no beehives and there’s no roof terrace gardens,” Vought wrote.

“Although minor deviations from approved plans may be inevitable, your testimony appears to reveal that the project is out of compliance with the approved plan with regard to major design elements,” Vought wrote.

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Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

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What’s “Froot Loops” in Italian?

The European confectionary company Ferrero has agreed to buy WK Kellogg Co., the manufacturer of iconic American cereals, for $3.1 billion.

The acquisition is set to bring the publicly traded maker of Froot Loops, Frosted Flakes and Rice Krispies under the privately owned Italian manufacturer of Nutella, Tic Tac and Kinder chocolates.

WK Kellogg, based in Battle Creek, Michigan, was spun off from Kellogg’s in 2023, splitting the company’s North American cereal business from its other snack products like Pringles and Pop-Tarts, a unit that is now owned by the publicly traded conglomerate Kellanova. WK Kellogg, one of North America’s largest cereal makers, saw its shares surge more than 30% Thursday on the news of the deal.

The agreement comes after years of slowing demand for sugary breakfast cereals as many consumers look for healthier options. WK Kellogg came under fire last year when CEO Gary Pilnick said on CNBC that households squeezed by food companies’ price hikes should consider eating “cereal for dinner” to save money, part of a marketing pitch the company was making as an answer to inflation.

Yet snack demand, too, has flagged recently, with The Campbell’s Co. and General Mills each warning this year of slower sales as customers prioritize square meals.

Ferrero Rocher chocolates.Alexander Sayganov / SOPA Images / LightRocket via Getty Images file

Ferrero, perhaps best known for its namesake Ferrero Rocher chocolates in gold foil, originated in Alba, Italy, after World War II and is now a multinational food maker headquartered in Luxembourg. The company reported revenue of 18.4 billion euros last fiscal year, up nearly 9% from the one before.

Ferrero executive chairman Giovanni Ferrero described the acquisition Thursday as “a key milestone” in an effort to grow its footprint in North America, where the closely held company sells an array of popular candies.

The deal is among a series of high-profile Ferrero acquisitions in recent years. The firm bought Butterfinger, Baby Ruth and other U.S. candy brands from Nestlé in 2018, then acquired Kellogg’s bakery business, including Famous Amos and Keebler, in 2019 along with the manufacturer of Halo Top ice cream in 2022.

After the transaction closes, WK Kellogg will be delisted from the New York Stock Exchange and become a wholly owned subsidiary of Ferrero. The deal is expected to close later this year.

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In Latest News

At least four killed and many ‘kidnapped’ in second Houthi attack in a week on Red Sea cargo ship

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Rescuers pulled six crew members alive from the Red Sea after Houthi militants attacked and sank a second ship this week, while the fate of another 15 was unknown after the Iran-aligned group said they held some of the seafarers.

The Houthis claimed responsibility for the assault that maritime officials say killed four of the 25 people aboard the Eternity C before the rest abandoned the cargo ship. Eternity C went down Wednesday morning after attacks on two previous days, sources at security companies involved in a rescue operation said.

The six rescued seafarers spent more than 24 hours in the water, those firms said.

The United States Mission in Yemen accused the Houthis of kidnapping many surviving crew members from Eternity C and called for their immediate and unconditional safe release.

“The Yemeni Navy responded to rescue a number of the ship’s crew, provide them with medical care, and transport them to a safe location,” the group’s military spokesperson said in a televised address.

The Houthis released a video they said depicted their attack on Eternity C. It included sound of a Yemen naval forces’ call for the crew to evacuate for rescue and showed explosions on the ship before it sank. Reuters could not independently verify the audio or the location of the ship, which it verified was the Eternity C.

The Houthis also have claimed responsibility for a similar assault on Sunday targeting another ship, the Magic Seas. All crew from the Magic Seas were rescued before it sank.

The strikes on the two ships revive a campaign by the Iran-aligned fighters who had attacked more than 100 ships from November 2023 to December 2024 in what they said was solidarity with the Palestinians. In May, the U.S. announced a surprise deal with the Houthis where it agreed to stop a bombing campaign against them in return for an end to shipping attacks, though the Houthis said the deal did not include sparing Israel.

Leading shipping industry associations, including the International Chamber of Shipping and BIMCO, denounced the deadly operation and called for robust maritime security in the region via a joint statement on Wednesday.

“These vessels have been attacked with callous disregard for the lives of innocent civilian seafarers,” they said.

“This tragedy illuminates the need for nations to maintain robust support in protecting shipping and vital sea lanes.”

Rescue search

The Eternity C and the Magic Seas both flew Liberia flags and were operated by Greek firms. Some of the sister vessels in each of their wider fleets had made calls to Israeli ports in the past year, shipping data analysis showed.

“We will continue to search for the remaining crew until the last light,” said an official at Greece-based maritime risk management firm Diaplous.

The EU’s Aspides naval mission, which protects Red Sea shipping, confirmed in a statement that six people had been pulled from the sea.

The Red Sea, which passes Yemen’s coast, has long been a critical waterway for the world’s oil and commodities but traffic has dropped sharply since the Houthi attacks began.

The number of daily sailings through the narrow Bab al-Mandab strait, at the southern tip of the Red Sea and a gateway to the Gulf of Aden, numbered 30 vessels on July 8, from 34 ships on July 6 and 43 on July 1, according to data from maritime data group Lloyd’s List Intelligence.

Oil prices rose on Wednesday, maintaining their highest levels since June 23, also due to the recent attacks on ships in the Red Sea.

Multiple attacks

Eternity C was first attacked on Monday afternoon with sea drones and rocket-propelled grenades fired from speed boats by suspected Houthi militants, maritime security sources said. Lifeboats were destroyed during the raid. By Tuesday morning the vessel was adrift and listing.

Two security sources told Reuters that the vessel was hit again with sea drones on Tuesday, forcing the crew and armed guards to abandon it. The Houthis stayed with the vessel until the early hours of Wednesday, one of the sources said.

Skiffs were in the area as rescue efforts were underway.

The crew comprised 21 Filipinos and one Russian. Three armed guards were also on board, including one Greek and one Indian, who was one of those rescued.

The vessel’s operator, Cosmoship Management, has not responded to requests for confirmation of casualties or injuries. If confirmed, the four reported deaths would be the first fatalities from attacks on shipping in the Red Sea since June 2024.

Greece has been in talks with Saudi Arabia, a key player in the region, over the latest incident, according to sources.

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In Latest News

Universities threatened with funding cuts under proposed plan to tackle antisemitism in Australia

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Australian universities may lose funding if they’re not judged to be doing enough to address anti-Jewish hate crimes, according to new measures proposed by the country’s first antisemitism envoy.

Jillian Segal was appointed to the role a year ago in response to a surge in reports of attacks against Jewish sites and property in Australia, following Israel’s invasion of Gaza, and was tasked with combating antisemitism in the country.

Standing alongside Prime Minister Anthony Albanese Thursday, Segal released a report nine months in the making proposing strong measures, including the university funding threats and the screening of visa applicants for extremist views.

“The plan is not about special treatment for one community; it is about restoring equal treatment,” Segal said. “It’s about ensuring that every Australian, regardless of their background or belief, can live, work, learn and prosper in this country.”

Like in the United States, Australian campuses were once the hub of pro-Palestinian protests led by students who pitched tents demanding action to stop Israel’s assault on Gaza.

The campus protests dwindled after restrictions were tightened and some protesters were threatened with expulsion, a move condemned by the activists as an infringement on free speech.

Segal’s report said antisemitism had become “ingrained and normalised” within academia and university courses, as well as on campuses, and recommended universities be made subject to annual report cards assessing their effectiveness in combating antisemitism.

Universities Australia chief executive Luke Sheehy said the organization had been working “constructively” with the special envoy and its members would “consider the recommendations.”

“Academic freedom and freedom of expression are core to the university mission, but they must be exercised with responsibility and never as a cover for hate or harassment,” he said in a statement.

Surge in antisemitism

Antisemitic attacks in Australia surged 300% in the year following Israel’s invasion of Gaza in October 2023.

In the past week alone, the door of a synagogue was set on fire in Melbourne, forcing 20 occupants to flee by a rear exit, as nearby protesters shouting “Death to the IDF” – using the initials of the Israeli military – stormed an Israeli-owned restaurant.

A man is facing arson charges over the synagogue attack, and three people were charged Tuesday with assault, affray, riotous behavior and criminal damage over the restaurant raid.

The Executive Council of Australian Jewry, which Segal once led and is the umbrella organization for hundreds of Jewish community groups, said the report’s release “could not be more timely given the recent appalling events in Melbourne.”

However, the Jewish Council of Australia, which opposes Israel’s war in Gaza, voiced concerns about Segal’s plan, saying it carried the overtones of US President Donald Trump’s attempts to use funding as a means of control over institutions.

In a statement, the council criticized the plan’s “emphasis on surveillance, censorship, and punitive control over the funding of cultural and educational institutions,” adding that they were “measures straight out of Trump’s authoritarian playbook.”

Max Kaiser, the group’s executive officer, said: “Any response that treats antisemitism as exceptional, while ignoring Islamophobia, anti-Palestinian racism, and other forms of hate, is doomed to fail.”

Education, immigration and the arts

The envoy’s 20-page plan includes sweeping recommendations covering schools, immigration, media, policing and public awareness campaigns.

Segal wants Holocaust and antisemitism education baked into the national curriculum “as a major case study of where unchecked antisemitism can lead,” according to the report.

Arts organizations could be subject to the same restrictions as universities, with threats to pull public funding if they’re found to have engaged in, or facilitated, antisemitism.

“While freedom of expression, particularly artistic expression, is vital to cultural richness and should be protected, funding provided by Australian taxpayers should not be used to promote division or spread false/ distorted narratives,” the report said.

Under the recommendations, tougher immigration screening would weed out people with antisemitic views, and the Migration Act would enable authorities to cancel visas for antisemitic conduct.

Media would be monitored to “encourage accurate, fair and responsible reporting” and to “avoid accepting false or distorted narratives,” the report added.

During Thursday’s press conference, Albanese pointed to an interview on the country’s national broadcaster with a protester, saying the interviewee tried to justify the Melbourne restaurant attack.

“There is no justification for that whatsoever,” he said. “The idea that somehow the cause of justice for Palestinians is advanced by behavior like that is not only delusional, it is destructive, and it is not consistent with how you are able to put forward your views respectfully in a democracy,” he said.

Asked if the country had become less tolerant of different views and had, perhaps, lost the ability to have a debate, Albanese pointed to social media.

“I think there is an impact of social media, where algorithms work to reinforce people’s views,” he said. “They reinforce views, and they push people towards extremes, whether it be extreme left, extreme right. Australians want a country that is in the center.”

His comments came as Grok, X’s AI chatbot, was called out for spreading antisemitic tropes that the company said it was “actively working to remove.”

Albanese said, regarding antisemitic views, “social media has a social responsibility, and they need to be held to account.”

Asked whether anti-Israel protests were fueling the antisemitic attacks, the prime minister said people should be able to express their views without resorting to hate.

“In Israel itself, as a democracy, there is protest against actions of the government, and in a democracy, you should be able to express your view here in Australia about events overseas,” he said. “Where the line has been crossed is in blaming and identifying people because they happen to be Jewish.”

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In Stock

The Seasonality Trend Driving XLK and XLI to New Highs

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For those who focus on sector rotation, whether to adjust portfolio weightings or invest directly in sector indexes, you’re probably wondering: Amid the current “risk-on” sentiment, even with ongoing economic and geopolitical uncertainties, can seasonality help you better anticipate shifts in sector performance?

Current Sector Performance Relative to SPY

To find out, let’s first look at how sectors are performing relative to the SPDR S&P 500 ETF (SPY), our S&P 500 proxy. The StockCharts Market Summary Mini Charts tab in the US Sectors panel shows you sector ETF performance and its relative performance against SPY.

FIGURE 1. MARKET SUMMARY US SECTORS PANEL. The new micro charts feature provides a chart of each sector’s ETF plus its relative performance against SPY, allowing you to gauge a sector’s strength against the broader market.

Looking at each sector chart over a three-month time frame, only two sectors are outperforming relative to SPY:

  1. Technology Select Sector SPDR Fund (XLK): Currently outperforming SPY by 13.85%.
  2. Industrial Select Sector SPDR Fund (XLI): Outpacing SPY by a modest 2.53%.

Spotlight on Technology and Industrials: Leading Sectors in a Risk-On Market

As a side note, Technology and Industrials are two sectors that align with the risk-on narrative. This suggests that the market is currently favoring higher-beta stocks (as XLK’s performance reflects) over safer sectors and that demand for industrial goods is generally rising, a sign investors expect the economy to strengthen.

Understanding Sector Seasonality: What History Tells Us

Now, let’s turn to seasonality. In this context, seasonality refers to the tendency for certain sectors to perform better during specific periods and worse during others. While past performance never guarantees future results, it can help you anticipate how a sector might behave based on historical tendencies, not certainties. 

So, what might the seasonality charts suggest about XLK and XLI in the coming months?.

XLK Seasonality Trends: Tech Sector’s Strongest Months

Take a look at XLK’s 10-year seasonality chart.

FIGURE 2. 10-YEAR SEASONALITY CHART OF XLK. While September appears to be tech’s only bearish month from a seasonality perspective, its strongest months are November and July. 

Over 10 years, July has been XLK’s second strongest month, with positive closes 90% of the time and an average monthly return of 4%. The most profitable month is November, with an 89% positive close rate and a 5% average monthly return. August isn’t bad, but July is exceptionally strong and reflects its current overall performance.

XLI Seasonality Patterns: When Industrials Tend to Outperform

Switching over to a seasonality chart of XLI, we get a similar picture.

FIGURE 3. 10-YEAR SEASONALITY CHART OF XLI. July is XLI’s strongest month for positive closes, and November is its strongest month for average seasonal returns.

This pattern is pretty exceptional: over the last 10 years, XLI has posted a historical 100% positive close rate in July, with an average return of 3.5%. The strongest returns, however, tend to occur in November, which shows an 89% positive close rate and an average return of 6.5%. The months in between are relatively unremarkable, making July and November stand out significantly. 

Technical Analysis of XLK and XLI

Will July be another up-month for XLK and XLI? Starting with XLK, let’s switch over to a six-month daily chart.

FIGURE 4. DAILY CHART OF XLK. Tech’s upward trajectory is now in overbought territory, yet there’s little sign of slowing.

XLK is at an all-time high, and there’s no clear indication that it’s pulling back just yet. 

Meanwhile, the Relative Strength Index (RSI) is suggesting that XLK has been occupying overbought territory since late June. However, bear in mind that an RSI reading at this level can sustain itself for an extended period. And if you look at the On Balance Volume (OBV) indicator, it suggests that the buying pressure trend is still rising with no signs of slowing down.

Actionable Tip: Remember, July is one of XLK’s historically strong seasonal months. 

  • But if it does pull back soon, you might expect a bounce near $242.50, which is an area marked by a series of historical swing highs. 
  • Notice how the ZigZag line highlights these key swing points. 
  • Other areas of support sit around $235, its most recent swing low, and $225, the level of its most recent swing low.

Now let’s turn to the daily chart of XLI.

FIGURE 5. DAILY CHART OF XLI. Industrials are also surging, although buying pressure may be starting to decline.

Similar to the previous chart, XLI shows a move higher that places it well into all-time high territory. July is also an exceptionally strong month for XLI, but does it have enough fuel to return the seasonal 3.5% that it typically averages this month?

The RSI signals that XLI may be overbought, which, again, can remain there for some time, while the OBV suggests that buying pressure may be easing into a pullback. However, price continues its upward trajectory.

Actionable Tip: If XLI dips, the pullback may be shallow, potentially bouncing near $145, its most recent swing high. A more substantial support level lies around $141, where multiple swing lows have formed. If XLI drops below $141, you can expect further downside movement.

At the Close

While no strategy can guarantee success, combining seasonality insights with price action can help improve your market timing. Keep an eye on support levels as well as momentum and volume. Remember that the strongest months for XLK and XLI tend to be July (the current month) and November. You can add XLK and XLI to your ChartLists and keep an eye on them, especially in the months ahead. 

However, the big takeaway here is to consider using seasonality charts alongside the various tools in the Market Summary, whether you’re considering an individual stock, index (sector or industry), or other asset classes, like commodities and monetary metals. While price action can help you nail down specific market opportunities, seasonality charts can help contextualize current price action and anticipate potential future market scenarios.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.


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In Stock

Want Faster, Lower Risk Trades? Use This Setup

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A good trade starts with a well-timed entry and a confident exit. But that’s easier said than done. 

In this video, Joe Rabil of Rabil Stock Research reveals his go-to two-timeframe setup he uses to gain an edge in his entry and exit timings and reduce his investment risks. 

Joe shows you how he spots the big trends on a higher timeframe chart and then drops to a shorter timeframe chart to pinpoint his entries and exits. Watch him dissect the S&P sectors, overall market, and specific symbols using the multiple timeframe approach. Follow along and come up with a systematic method that can help you gain more confidence in your investment decisions.  

The video premiered on July 2, 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.


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In Investing

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

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   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

 

Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

 

 Osisko Metals Chief Executive Officer Robert Wares commented: ‘Today’s new results continue to confirm the large-scale potential of mineralization at Gaspé Copper. Expansion hole 30-1090 in particular has intersected a significant mineralized width, underscoring the excellent prospects for increasing the size of the known deposit towards the south. The program is advancing well, with a ninth drill rig added recently to accelerate the definition and expansion program.’

 

Significant new analytical results are presented below and include 25 mineralized intercepts from eight drill holes (Table 1). The infill intercepts are all located inside the defined 2024 Mineral Resource Estimate model (‘MRE’, see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. The expansion intercepts are all located outside the 2024 MRE model and may lead to additional resources that will be classified appropriately within the next MRE update. Maps showing hole locations are available at www.osiskometals.com .

 

 

 

 

 

   Highlights:   

 

  • Drill hole 30-1090
    •   279.0   metres averaging 0.49% Cu (expansion)

      •  

    •   108.0 metres averaging 0.84% Cu (expansion)

      •  

    •  

  • Drill hole 30-1078
    •   256.5   metres averaging 0.25   % Cu (infill)

      •  

    •   381.0   metres averaging 0.22   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1079
    •   319.5   metres averaging 0.28   % Cu (infill)

      •  

    •   180.0   metres averaging 0.37   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1081
    •   301.8   metres averaging 0.41% Cu (infill)

      •  

    •   44.5   metres averaging 0.23   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1084
    •   471.4   metres averaging 0.25   % Cu (infill)

      •  

    •   55.4   metres averaging 0.33   % Cu (expansion)

      •  

    •   89.7   metres averaging 0.29   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1080
    •   520.5   metres averaging 0.23   % Cu (infill)

      •  

    •   195.0   metres averaging 0.26   % Cu (expansion)

      •  

    •  

  Table 1: Infill and Expansion Drilling  

 

                                                                                                                                                                                                                                                                                       

  DDH No.     From (m)     To (m)     Width (m)     Cu %     Ag g/t     Mo %     CuEq*     Type  
  30-1077     129.0     201.0     72.0     0.22     2.71        0.24     Infill  
  And     291.0     313.5     22.5     0.23     2.62     0.009     0.28     Infill  
  And     384.0     399.0     15.0     0.52     3.73        0.55     Infill  
  And     428.5     450.7     22.2     0.30     2.33     0.006     0.34     Infill  
  And     481.5     553.5     72.0     0.19     1.41     0.013     0.25     Expansion  
  And     603.8     777.0     173.2     0.27     1.49     0.035     0.42     Expansion  
  30-1078     6.0     262.5     256.5     0.25     1.79     0.008     0.29     Infill  
  And     307.5     688.5     381.0     0.22     1.69     0.022     0.32     Expansion  
  30-1079     22.5     342.0     319.5     0.28     2.14     0.008     0.32     Infill  
  And     456.0     636.0     180.0     0.37     2.54     0.007     0.41     Expansion  
   (Including)       480.7       481.8       1.1       8.66       35.2           8.84     Expansion  
  30-1080     15.0     535.5     520.5     0.23     1.02     0.013     0.29     Infill  
  And     774.0     969.0     195.0     0.26     1.28     0.030     0.39     Expansion  
  30-1081     42.0     71.0     29.0     0.16     1.79        0.18     Infill  
  And     94.0     395.8     301.8     0.41     3.36     0.006     0.45     Infill  
   (Including)       322.3       330.0       7.7       1.99       14.58           2.08     Infill  
  And     445.5     490.0     44.5     0.23     1.32        0.28     Expansion  
  30-1084     5.6     477.0     471.4     0.25     1.95     0.009     0.30     Infill  
  And     522.6     578.0     55.4     0.33     2.64     0.041     0.51     Expansion  
  And     616.8     706.5     89.7     0.29     1.93     0.012     0.35     Expansion  
  30-1086     14.1     166.5     152.4     0.18     0.73        0.19     Infill  
  And     219.0     250.5     31.5     0.22     1.13        0.23     Infill  
  And     433.1     466.5     33.4     0.25     1.12        0.26     Infill  
  And     888.5     949.5     61.0     0.23     0.98     0.009     0.27     Expansion  
  30-1090     15.0     294.0     279.0     0.49     3.35        0.51     Expansion  
   (Including)       66.0       72.0       6.0       3.34       14.42       0.019      3.49     Expansion  
   (Including)       164.0       172.7       8.7       2.24       9.78           2.29     Expansion  
  And     331.5     357.0     25.5     0.24     1.96        0.26     Expansion  
  And     417.0     525.0     108.0     0.84     7.79        0.89     Expansion  
   (Including)      433.4     445.3     11.9     3.00     30.46        3.20     Expansion  

 

 
Notes: Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.

 

  Table 2: Drill hole locations  

 

                                                               

  DDH No.     Azimuth (°)     Dip (°)     Length (m)     UTM E     UTM N     Elevation  
  30-1077     0     -90     879     316400     5425987.8     637.7  
  30-1078     0     -90     837     316300     5425903     608.4  
  30-1079     0     -90     780     316298     5425814     584.3  
  30-1080     0     -90     976     315500     5426425     580.0  
  30-1081     0     -90     490     316505     5425800     584.9  
  30-1084     0     -90     816     316397     5425889     606.9  
  30-1086     0     -90     978     315500     5426320     580.0  
  30-1090     0     -90     675     316477     5425532     565.7  

 

 
Drill hole 30-1090 intersected new mineralization located 105 metres south of the 2024 MRE model, returning 279.0 metres averaging 0.49% Cu and 3.35 g/t Ag   (including   8.7 metres averaging   2.24% Cu and 9.8 g/t Ag) ; a second intercept in this same hole (below the base of the 2024 MRE model) returned 108 metres averaging   0.84% Cu and 7.79 g/t Ag , extending mineralization to a vertical depth of 525 metres.

 

Drill hole 30-1078 (located in the south-central deposit) intersected 256.5 metres averaging 0.25% Cu and 1.79 g/t Ag , followed by a second intercept of 381.0 metres averaging 0.22% Cu and 1.69 g/t Ag , extending mineralization 280 metres below the base of the 2024 MRE model to a vertical depth of 688 metres.

 

Drill hole 30-1079 (located in the south-central deposit) intersected 319.5 metres averaging 0.28% Cu and 2.14 g/t Ag , followed by a second intercept of 180.0 metres averaging 0.37% Cu and 2.54 g/t Ag , extending mineralization 307 metres below the base of the 2024 MRE model to a vertical depth of 636 metres.

 

Drill hole 30-1081 (located in the south-central deposit) intersected 301.8 metres averaging 0.41% Cu and 3.36 g/t Ag (   including 7.7 metres averaging 1.99% Cu and 14.6 g/t Ag    at the level of the C Zone skarn ), followed by a second intercept of 44.5 metres averaging   0.23% Cu and 1.32 g/t Ag, extending mineralization 146 metres below the base of the 2024 MRE model to a vertical depth of 490 metres.

 

Drill hole 30-1084, also located in the south-central portion of the deposit, intersected 471.4 metres averaging 0.25% Cu and 1.95 g/t Ag, followed by a second intercept at depth of 55.4 metres averaging   0.33% Cu and 2.64 g/t Ag, and a third deeper intercept of 89.7 metres averaging   0.29% Cu and 1.93 g/t Ag, extending mineralization 306 metres below the base of the 2024 MRE model to a vertical depth of 706 metres.

 

Drill hole 30-1080 (located at the northwest end of the deposit) intersected 520.5 metres averaging 0.23% Cu and 1.02 g/t Ag , followed by a second intercept of 195.0 metres averaging   0.26% Cu and 1.28 g/t Ag , extending mineralization 418 metres below the base of the 2024 MRE model to a vertical depth of 969 metres.

 

Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system.

 

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see    May 6, 2024 MRE press release   ). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see    November 14, 2024 MRE press release   ).

 

The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.

 

All holes were drilled sub-vertically into the altered calcareous stratigraphy, which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites (pale green to white potassic-altered hornfels) that host the bulk of the disseminated copper mineralization.

 

The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

 

   Explanatory note regarding copper-equivalent grades   

 

  Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.00/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.  

 

   Qualified Person   

 

  The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent consultant, is at ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).  

 

   Quality Assurance / Quality Control   

 

  Mineralized intervals reported herein are calculated using an average 0.12% copper lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.

 

  Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the   ALS   Canada   Ltd.   facility   in   North   Vancouver,   BC.   All   samples   are   analyzed   by   four   acid   digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver.  

 

   About Osisko Metals   

 

  Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec   ‘   s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current    Indicated Mineral Resources of     824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq    (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.  

 

  In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada   ‘   s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of    Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq    (in compliance with NI 43-101). For more information, see Osisko Metals   ‘   June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.  

 

  For further information on this news release, visit    www.osiskometals.com ,   or contact:  

 

Don Njegovan, President
Email: info@osiskometals.com  
Phone: (416) 500-4129

 

   Cautionary Statement on Forward-Looking Information   

 

  This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.  

 

  Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

Photos accompanying this announcement are available at:

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/9056bd4b-e68d-4dd1-a787-1f3b346d2cde  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9ed8b2-4c21-47aa-9923-f5e30da77ff4  

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

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Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

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US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we’re going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

The announcement triggered immediate market reaction. According to Reuters, copper futures for September delivery surged 13 percent on the day, closing at US$5.6855 per pound—its biggest single-day jump since 1989.

Traders cited fears of a supply crunch and price volatility as buyers scrambled to secure US-bound shipments ahead of the tariff implementation.

The decision marks a culmination of a months-long process that began in February, when Trump signed an executive order instructing the Department of Commerce to investigate whether copper imports posed a national security threat under Section 232 of the Trade Expansion Act of 1962.

The rarely used statute gives the president broad authority to impose tariffs or quotas if imports are deemed harmful to national defense or essential industries.

The copper tariff follows a similar pattern established during Trump’s first term, when the White House used Section 232 to levy tariffs on steel and aluminum.

Since returning to office, Trump has expanded his use of the provision to include automobiles, pharmaceuticals and critical minerals like rare earths.

Countries in the crosshairs

The brunt of the copper tariff is expected to fall on key US trade partners — most notably Chile, Canada and Mexico, which collectively accounted for the majority of America’s US$17 billion in copper imports in 2024, according to US Census Bureau data.

Chile alone shipped US$6 billion worth of copper to the US last year.

Officials from Chile, Canada and Peru, have pushed back against the measure, arguing their exports pose no threat to US national security and citing long-standing free trade agreements.

However, none have been granted exemptions as of Wednesday (July 9), and negotiations remain in limbo.

The looming copper tariff comes on the heels of broader trade actions taken by the Trump administration. On Monday (July 7), the White House imposed stiff tariffs on imports from 14 countries, including Japan, South Korea, Malaysia, South Africa and Kazakhstan.

These levies, effective August 1, targeted a wide range of sectors, from steel and aluminum to automotive parts and textiles.

Despite its relatively small trade deficit in copper — the US exported US$11.3 billion and imported US$9.6 billion worth of the metal in 2024 — the White House argues that the country remains dangerously reliant on foreign refining and processing capacity.

National security as justification

The legal foundation for the copper tariff lies in Section 232, which allows the president to act unilaterally on trade when national security is at stake. Experts say the provision gives Trump more durable legal ground than his recent attempts to use emergency powers to implement broad, country-specific tariffs — some of which are being challenged in federal court.

“Section 232 tariffs are central to President Trump’s tariff strategy,” said Mike Lowell, a trade attorney with ReedSmith, in an interview with CNBC. “They aren’t the target of the pending litigation, and they’re more likely to survive a legal challenge and continue into the next presidential administration.”

The administration’s increasing reliance on Section 232 tariffs reflects a shift toward industrial policy motivated by supply chain security, particularly for materials with dual-use applications in civilian and defense sectors.

Copper is a case in point. Used extensively in electrical wiring, motors, semiconductors and military-grade communications equipment, the red metal has been classified as critical to US infrastructure and defense capabilities.

Analysts point out that demand for the red metal is set to surge in the coming years due to the ongoing energy transition and growing adoption of electric vehicles.

In April, Trump issued a separate executive order launching a Section 232 investigation into US reliance on imported critical minerals and processed rare earths, calling them “essential for national security and economic resilience.” The order cited specific applications in jet engines, missile guidance, radar systems and advanced electronics.

As of Wednesday, no formal timeline had been posted on Trump’s Truth Social account, and details around carve-outs or exemptions remained unclear.

For now, however, Trump appears undeterred. The head of state has already threatened that pharmaceuticals may be next in line for potential action.

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

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