Market Signal Briefing

December 03, 2025 6:00 AM EST | Source: Copper Fox Metals Inc.
Calgary, Alberta--(Newsfile Corp. - December 3, 2025) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE:HPU) ("Copper Fox" or the "Company") through its wholly owned subsidiary Desert Fox Van Dyke Co., is pleased to provide an update on plans to advance its 100% owned Van Dyke in-situ copper recovery (ISCR) project (the "Project") located in the Globe-Miami Mining District, Gila County, Arizona.

Elmer B. Stewart, President and CEO of Copper Fox, stated, "Copper Fox is focused on restarting copper production from the historic Van Dyke mine in Arizona employing responsible mining technologies, practices and utilizing ISCR methodology, a mining method currently being implemented at Florence Copper. The 2020 Preliminary Economic Assessment (PEA) recognized Van Dyke as a near term, mid-size, environmentally friendly and sustainable copper project located in the prolific Miami-Inspiration mining district in Arizona. Copper Fox's goal at Van Dyke is to update the 2020 PEA incorporating results of studies completed since 2021 to provide a critically important assessment of the Project's status. The results of the PEA could optimize the timeline, activities and estimated cost of the Execution Plan prepared to advance the project to the prefeasibility study (PFS) stage. We look forward to delivering on this next milestone and are exploring available options for non-dilutive funding prior to initiating the PFS level activities."

The PEA would incorporate among other items, the results of technical studies completed since 2021, update the capital, operating and sustaining costs, update pre-tax and post-tax economic models using consensus long term copper pricing and a project economic sensitivity analysis to copper price.

Copper Designated Critical Mineral
The recent designation of copper as a critical mineral by the US Geological Survey combined with the rapidly growing demand for copper to support the global energy transition, manufacturing, electrification, and AI expansion highlights the importance of new, environmentally sustainable development stage copper projects like Van Dyke. The Project has the potential to be a near term, mid-size copper project located in a Tier-1 jurisdiction, playing a meaningful role in meeting the growing long-term domestic demand for copper in the United States.

The Van Dyke Project
The 2020 PEA1 contemplated a mining operation with a production capacity of 85 million pounds (lb) of Grade A, 99.99% pure copper cathode per year utilizing ISCR methodologies over a 17-year mine life. Highlights of the 2020 PEA are (see news release dated January 12, 2021):

2020 PEA Highlights: (Based on US$3.15/lb copper)

Base case post-tax NPV7.5% of US$644.7M, an IRR of 43.4%, and payback period of 2.1 years.Life of mine (LOM) copper production of 1.1 billion (B) lb with cumulative net free cash flow of US$1.76B pre-tax and US$1.44B post-tax over a 17-year mine life.Initial capital expenditure of US$290.5M (includes a 30% contingency) with LOM direct operating cost of US$0.71/lb and sustaining costs of US$0.07/lb.C1 cost US$0.98, and AISC cost US$1.14/lb copper.1) The Technical Report, titled "NI 43-101 Preliminary Economic Assessment Technical Report for the Van Dyke Copper Project", with an effective date of December 30, 2020, was prepared by Susan C. Bird, MSc., P.Eng., Bob Lane, P.Geo., and Tracey Meintjes, P.Eng., of Moose Mountain Technical Services and Jim Norine, P.E., of Ausenco Limited. C1 and AISC are Non-GAAP and IFRS measures, (see Note 1 in Life of Mine Comparison table in January 12, 2021, news release)

In addition to providing copper to meet US domestic copper requirements, the 2020 PEA projected the project could support directly and indirectly approximately 500 jobs in the Miami-Globe area; injecting approximately US$1.07B into the Miami-Globe and Arizona economies and contribute approximately US$355M in mineral, state and federal taxes over its 17-year mine life. The project also benefits from access to local infrastructure including a copper smelter, a copper rod plant, highways, rail lines, and power grid.

Technical Investigations Completed Since 2021
Studies completed by our team in combination with the contributions from the consultants that prepared the PFS Execution Plan has materially strengthened the foundation of the Van Dyke project and include:

Established four hydrogeological monitoring stations and initiated water quality sampling in accordance with Federal and State regulatory requirements.Updated conceptual hydrogeological, geometallurgical, geological, structural, and mineralogical models for the deposit. Preliminary characterization of the copper mineralogy in the oxide and transition mineralogical domains within the deposit.Preliminary characterization of the copper mineralization, gangue, and host rock to mitigate potential operating issues during the leaching process. Geotechnical study to determine rock strength and geotechnical characteristics of the Gila Conglomerate. Infrastructure reviews to minimize environmental and social disturbance. An Execution Plan outlining expected activities, estimated costs, timeline and permitting process to achieve a PFS level technical report. Current Activities
Activities currently in progress in advance of completing the planned PEA include initiating the permitting process with the Town of Miami to conduct future diamond drilling activities and completion of a preliminary groundwater flow model for the Project. The groundwater flow model is expected to optimize the hydrogeological recommendations set out in the PFS Execution Plan and potentially locate additional hydrogeological monitoring and water sampling stations to support developing an updated hydrogeological model. The updated hydrogeological model would be used to better predict solution flows and potentially projected copper recoveries during the leaching process. Other activities include continuing the community outreach program, quarterly water sampling, and collection of hydrogeological data from existing hydrogeological monitoring sites within the project area.

Qualified Person
Elmer B. Stewart, MSc. P. Geol., President, and CEO of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.

About Copper Fox
Copper Fox is a Canadian resource company focused on copper development and exploration in the United States and Canada. Copper Fox and its subsidiaries own 100% of the Van Dyke ISCR project, a development stage, potential near term, mid-size copper mine in Arizona and a 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited (75% interest and Operator) which hosts the Schaft Creek copper-gold-molybdenum-silver project, transitioning from the Scoping to the PFS stage in 2026, located in British Columbia's Golden Triangle. In addition, Copper Fox owns 100% of the resource stage Eaglehead polymetallic porphyry copper project in northwestern British Columbia and the Sombrero Butte and Mineral Mountain advanced exploration stage porphyry copper projects located in the prolific Laramide age copper province in Arizona. For more information on Copper Fox's mineral properties and investments visit the Company's website at www.copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart
President and Chief Executive 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.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securities laws (collectively, "forward-looking information"). Forward-looking information is identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets," "could," "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes statements about: an updated PEA; results of technical investigations; updated models; optimizing the PFS Execution Plan; initiating permitting for future drilling; a generalized hydrogeology flow model; options for non-dilutive funding; and advancing work to the PFS level.

In connection with the forward-looking information contained in this news release, Copper Fox has made numerous assumptions regarding, among other things: the availability of service providers; the geological, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include among others: an updated PEA may not be completed as contemplated or at all; the updated models may not be accurate; the PFS Execution Plan may not be optimized; the drilling permit may not be as received as contemplated or at all; the generalized hydrogeology flow model may not be completed as planned or at all; non-dilutive funding to advance to the PFS level may not be achieved as contemplated or at all; and advancing the project to the PFS level may not be achieved as contemplated or at all; uncertainties relating to interpretation of the previous results; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing and non-dilutive funding; fluctuations in commodity prices and demand; uncertainty related to potential threat of tariffs; currency exchange rates; and uncertainty as to timely availability of permits and other governmental approvals.

A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedarplus.ca. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276686

The Binance Coin (BNB) price has surged 8.2% today, outpacing both its weekly and monthly trends, to trade at around $897.78 at press time. BNB's surge comes as Binance crypto exchange reshapes its executive structure, naming Yi He, the exchange's co-founder, as Co-CEO alongside Richard Teng.

The broader Solana memecoin economy is currently facing a liquidity crisis and collapsing volumes, but one asset has successfully decoupled from the sector-wide decline.

According to CryptoSlate data, PIPPIN, a token born from an AI experiment in early 2024, has emerged as one of the best-performing crypto tokens in the last 30 days, surging 556% to defy a market trend defined by capital flight and investor fatigue.

This divergence is stark. Across the Solana network, the “meme mania” that defined the early part of this year has largely evaporated, replaced by a harsh period of consolidation.

Yet, PIPPIN has moved in the opposite direction, propelled by a potent combination of derivatives leverage, surging open interest, and what on-chain forensic analysis suggests is a highly coordinated effort to corner the token’s supply.

PIPPIN’s derivative-fueled rallyTo understand the anomaly in PIPPIN’s rally, one must first understand the surrounding wasteland.

The Solana speculative market has undergone a brutal contraction over the last six months.

Data from Blockworks Research indicates that meme assets now account for less than 10% of daily Solana decentralized exchange (DEX) volume, a precipitous drop from the dominance they commanded a year ago, when they accounted for more than 70% of activity.

Solana DEX Volume (Source: BlockWorks)The catalyst for this exodus has been a breakdown in trust.

A series of high-profile “rug pulls,” including the collapse of the LIBRA and TRUMP tokens, has decimated the appetite for new launches.

As a result, the number of active traders has plummeted as liquidity fragments, leaving the market with thinner spot depth and a wary participant base that is reluctant to take new inventory.

Against this backdrop of capitulation, PIPPIN has emerged as a magnet for the remaining speculative liquidity.

CoinGlass data shows that the token’s rise was not driven solely by spot buying but by a massive expansion in leverage.

On Dec. 1, PIPPIN derivatives recorded more than $3.19 billion in trading volume. This figure dwarfs the activity of many mid-cap utility tokens, such as Hyperliquid’s HYPE and SUI.

PIPPIN Derivatives Volume (Source: CoinGlass)Simultaneously, the token’s open interest doubled to $160 million, signaling that traders were aggressively building exposure to the asset.

This creates a self-reinforcing loop in which, as the broader sector withers, the remaining capital concentrates in the few assets showing momentum.

However, unlike the broad-based rallies of the past, this move is narrow and brittle, supported almost entirely by the mechanics of the futures market rather than genuine grassroots adoption.

The great supply transferMeanwhile, the most critical aspect of the PIPPIN rally is on-chain, where a significant transfer of ownership has occurred.

The token is undergoing a “changing of the guard,” shifting from the hands of early, organic adopters to what appears to be a syndicated cluster of wallets managing a large share of the supply.

This transition was highlighted by the exit of a prominent early “whale.” On Dec. 1, blockchain analysis platform Lookonchain reported that a wallet labeled 2Gc2Xg, which had held the token for over a year, recently liquidated its entire 24.8 million PIPPIN position.

The trader, who originally spent just 450 SOL (roughly $90,000 at the time) to acquire the stake, exited at $3.74 million, locking in a 4,066% gain.

This represented a textbook organic trade of an early believer cashing out life-changing money.

However, the question is: who absorbed that supply?

On-chain forensics provided by Bubblemaps suggests the buyers were not scattered retail traders, but a highly organized entity.

The analysis firm identified a cluster of 50 connected wallets that purchased $19 million worth of PIPPIN.

These wallets exhibited distinct non-organic behaviors as they were funded by the HTX exchange within tight, synchronized time windows, received comparable amounts of SOL for gas fees, and had no prior on-chain activity.

Furthermore, Bubblemaps flagged 26 additional addresses that withdrew 44 percent of PIPPIN’s total supply from the Gate exchange over two months.

PIPPIN Token Cluster (Source: BubbleMaps)These withdrawals, valued at approximately $96 million, were clustered around specific dates, specifically between Oct. 24 and Nov. 23, suggesting a deliberate strategy to remove liquidity from centralized venues and reduce the circulating float.

When combined with the entry of aggressive new speculators, such as wallet BxNU5a, which bought 8.2 million PIPPIN and is currently sitting on unrealized gains of over $1.35 million, the picture becomes clear.

This means that the floating supply of PIPPIN is being rapidly consolidated.

So, as organic holders exit, they are being replaced by entities that appear to be coordinating their accumulation to tighten the market structure, making the price significantly more sensitive to the derivatives flows mentioned earlier.

What does PIPPIN rally teach the market?This concentration of supply creates a precarious valuation paradox.

On paper, PIPPIN appears to be a unicorn, briefly touching valuations reminiscent of its peak when its creator, Yohei Nakajima, first endorsed the AI-generated concept.

However, the token’s fundamental landscape remains barren. There have been no new posts from the creator, no updated roadmap, and no technological developments to justify a quarter-billion-dollar resurgence.

As a result, this rally is a “ghost ship” momentum play, driven by market structure rather than product substance.

For the new whales and the coordinated wallet clusters, the danger lies in the exit.

While wallet BxNU5a may show $1.35 million in profit, realizing those gains in a market with thinning spot depth is a different challenge.

Moreover, if the coordinated wallets attempt to unwind their $96 million position, the liquidity mismatch could trigger a rapid price reversal.

Ultimately, PIPPIN functions as a mirror of the current state of the crypto economy, which has been skewed by leverage and dominated by sophisticated actors who can manipulate low-float assets.

Its price performance also indicates that outlier rallies remain possible. However, they are increasingly the domain of whales and syndicates rather than the everyday trader.

Mentioned in this article

Bitcoin climbed to a two-week high on Wednesday, breaking above $94,000 as traders attempted to recover from a selloff that's erased over $1 trillion from crypto since early October. At press time, the OG crypto was holding near $93,700, still riding a 2.6% gain that put it at its strongest intraday level since November 17.

Dogecoin Price today jumped 8% as new institutional money flowed into the market, marking one of its strongest moves in weeks. Trading volume surged to $1.37 billion, well above normal levels, showing renewed interest from larger investors. DOGE price also broke through key resistance levels with momentum indicators supporting the rise.

The Build on Bitcoin (BOB) coin has experienced a remarkable surge in value, signalling one of its most significant price movements in recent months. At press time, BOB was trading at approximately $0.02188, reflecting a staggering 100.1% increase in the past 24 hours.

Ethereum digital asset treasuries bought only 370,000 ETH in November, an 81% drop from August's peak.

Key NotesAnalysts highlighted a major technical breakout for the LINK price after a strong consolidation phase.Grayscale’s GLNK ETF debuted on the NYSE, recording 1.17 million shares traded and $14 million in volume on day one.LINK saw a 24% jump in futures open interest, with analysts predicting $20 target ahead.
LINK

LINK
$14.39

24h volatility:
18.9%

Market cap:
$10.04 B

Vol. 24h:
$1.25 B

, the native cryptocurrency of the Chainlink blockchain, is showing major strength with 20% upside amid the broader crypto market rally on Dec. 3. This rally comes as the first-ever Chainlink ETF from asset manager Grayscale went live. The overall market sentiment has turned bullish around this altcoin amid recent developments.

LINK Price Surge Leads Crypto Market Rally
After facing strong selling through November, the LINK price saw a major recovery with 20% gains in the last 24 hours, and is currently trading at $14.38. Also, the daily trading volumes for LINK have surged by 84% to $1.12 billion.

According to the CoinGlass data, the LINK futures open interest has also surged 24% to more than $630 million, highlighting strong bullish sentiment.

Crypto market analyst World of Charts reported that Chainlink (LINK) has held a critical support zone and is now breaking out of a consolidation phase. The analyst said the technical structure points to a potential move toward the $20 level in the coming day.

$Link #Link Holded Important Area, And Now Breaking Long Consolidation, Expecting Move Towards 20$ In Coming Days, Waiting For Successful Retest https://t.co/2tgOWCeDYh pic.twitter.com/qT5HHfrj9n

— World Of Charts (@WorldOfCharts1) December 3, 2025

The LINK price is already trading at a 50% discount from its January 2025 highs of $30. However, throughout this year, Chainlink as a blockchain has become fundamentally stronger and has seen strong whale accumulation in recent times. Moreover, the demand could surge further with the first ETF going live in the US.

Grayscale Chainlink ETF Goes Live on NYSE
On Dec. 2, the Grayscale Chainlink ETF (GLNK) went live for trading on the New York Stock Exchange (NYSE), becoming the first US spot product offering direct access to LINK.

The firm’s decision to convert its existing Chainlink Trust into the publicly traded GLNK ETF marks a major shift in institutional access to the asset. Moreover, the GLNK ETF saw 1.17 million shares traded on its opening day, nearly 28 times its average daily volume as a private trust.

GLNK closed its first session with roughly $14 million in trading volume. While modest in absolute terms, the figure is significant given that Coinbase’s daily LINK volume typically ranges between $30 million and $40 million. This shows that the ETF captured nearly half of the trading activity on the first day of going live.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Chainlink (LINK) News, Altcoin News, Cryptocurrency News, News

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Bhushan Akolkar on X

A new analysis from author and market commentator Shanaka Anslem Perera is catching attention from the crypto community.

Perera argues that between November 24 and December 2, 2025, the world’s biggest financial institutions executed a set of moves that effectively pulled Bitcoin into the center of traditional finance.

“In 216 hours, they captured Bitcoin.”

Four Giants, One Week, and a Very Clear ShiftHere’s what happened during that nine-day stretch.

JPMorgan filed new leveraged structured notes tied to BlackRock’s IBIT ETF.

Vanguard ended its long anti-crypto stance and opened its entire $11 trillion platform to Bitcoin, Ethereum, XRP, and Solana ETFs. Bank of America gave 15,000 financial advisers the green light to recommend 1-4% Bitcoin allocations starting January. Goldman Sachs bought Innovator Capital Management for $2 billion.

Taken alone, each headline is big. But together, Perera says the timing “approaches statistical implausibility.”

These firms control more than $20 trillion, and they all moved toward Bitcoin within the same week.

As Institutions Built, Retail Stepped BackWhile Wall Street positioned itself, retail investors were heading for the exit.

November saw $3.47 billion in spot Bitcoin ETF outflows – the largest monthly withdrawal on record. IBIT alone lost $2.34 billion as investors sold below cost basis.

Meanwhile, sovereign wealth money was flowing in. Abu Dhabi tripled its Bitcoin holdings that same quarter. Perera describes it as the transfer from “weak hands” to “strong hands”.

The Absorption Started With ETFsPerera points back to January 2024, when Bitcoin ETFs were approved. That turned Bitcoin from a self-custody asset into something advisors, banks, and brokerages could plug directly into their systems.

Since then, the infrastructure has only expanded.

Nasdaq moved to raise IBIT’s options limit by 40x, giving banks the hedging tools needed for structured products. JPMorgan’s new notes offer 1.5x upside with a 30% downside barrier – effectively turning Bitcoin into a yield-style product.

Vanguard’s reversal and Bank of America’s distribution network completed the mainstream funnel.

The Pressure on MicroStrategy’s ModelAnother part of the shift is happening. MSCI is set to vote on excluding companies with more than 50% of assets in crypto – a direct blow to Strategy Inc. (formerly MicroStrategy), which sits around 90%.

MSCI is considering a rule change that could NUKE MicroStrategy and therefore Bitcoin on Jan 15th:

Companies whose main business is holding crypto instead of operating a normal business may be excluded from their global stock indexes

Since Strategy holds massive amounts of… pic.twitter.com/ZdiubseDjQ

— Coin Guide (William Watson) (@CoinGuideWW) December 1, 2025 That exclusion could force $2.8B-$11.6B in selling.

Volatility Is the Last BarrierBigger IBIT options limits allow market makers to mute volatility through hedging. Lower volatility brings in pensions, insurers, and large wealth managers.

Regulatory clarity under the Trump administration – from the GENIUS Act to the push for a Strategic Bitcoin Reserve – accelerated this shift.

But the MSCI rule creates tension, since Trump-linked companies also hold large Bitcoin treasuries.

“Bitcoin Was Not Defeated. It Was Captured.”Perera’s broader point is that the economics around Bitcoin have migrated.

ETFs now dominate ownership, most users pick convenience over custody, and the profits, fees, and flows sit inside Wall Street’s machinery.

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What to Know:

A more dovish, crypto-friendly Fed chair like Kevin Hassett could extend a multi‑year liquidity cycle, favoring Bitcoin and high‑beta altcoins.
Position sizing, diversification, and risk management remain critical, even when macro conditions and narratives seem heavily tilted in crypto’s favor.
Bitcoin Hyper’s SVM-powered Layer 2 aims to unlock low-latency smart contracts and DeFi around $BTC while preserving Bitcoin settlement security.
PEPENODE and Dogwifhat provide meme and community-driven upside exposure if easier policy reignites speculative flows into Solana and broader alt markets.

Speculation that Kevin Hassett could take over the Fed with a more dovish, pro-risk stance is exactly the kind of macro shift crypto loves.

Trump has made repeated references to Hassett, so it wouldn’t come as a surprise. A chair who’s comfortable with deeper rate cuts and friendlier optics toward digital assets doesn’t just move markets for a quarter; it reshapes liquidity conditions for years.

Cheaper money and clearer political cover for Bitcoin would likely mean a stronger bid for $BTC first, then a spillover into high-beta altcoins and infrastructure plays. If that happens, you want exposure to assets that benefit structurally from a multi‑year adoption wave.

That’s where Bitcoin-focused scaling, speculative meme liquidity, and Solana ecosystem bets start to matter, making them the best crypto to buy. You’re not just guessing charts; you’re aligning with where capital, developers, and users could cluster if 2026–2028 turns into another extended risk cycle.

1. Bitcoin Hyper ($HYPER): Bitcoin Layer 2 Bringing Bitcoin Security With SVM Speed
If looser Fed policy sends Bitcoin back into price discovery, the next big bottleneck won’t be demand for $BTC, it’ll be what you can do with it. Bitcoin Hyper ($HYPER) positions itself as a Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, aiming to turn dormant $BTC into fully programmable capital.

Instead of trying to bolt slow EVM logic onto Bitcoin, $HYPER uses a modular design: Bitcoin L1 for settlement and a real-time SVM-powered L2 for execution. That architecture targets sub-second finality and low fees while anchoring state periodically to Bitcoin, giving builders Solana-style speed with Bitcoin-grade trust assumptions.

The project leans on a single trusted sequencer, with periodic L1 state anchoring, and supports SPL-compatible tokens customized for its Layer 2. That opens the door to Solana-like DeFi, swaps, lending, and staking protocols but with wrapped $BTC as a first-class asset, plus Rust SDKs and APIs for gaming dApps and NFT platforms.

From a capital-rotation lens, the numbers are already notable. The $HYPER presale has raised over $28.8M with tokens currently at $0.013365, showing a clear appetite from investors looking ahead of any macro pivot.

Our experts see future potential as well, with an end-of-2026 price prediction hitting $0.08625. That’d see you with a potential ROI of over 545% if you invested at today’s price.

If you get in early, you can also take advantage of dynamic staking rewards, currently sitting at 40%. Being a $HYPER holder, you also get rewards tied to community and governance participation.

If you believe a Hassett-led Fed kickstarts a new liquidity cycle centered on Bitcoin, Bitcoin Hyper is a direct bet on scaling that demand.

2. PEPENODE ($PEPENODE): Mine-to-Earn Without the Overheads
Every easy-money cycle has a meme phase, and if the Fed turns dovish again, you can expect speculative capital to chase narratives that blend culture, game mechanics, and upside. PEPENODE ($PEPENODE) leans into that with a mine‑to‑earn meme coin pitch, trying to gamify yield and engagement rather than just relying on vibes.

Instead of just traditional staking, PEPENODE uses a Virtual Mining System and tiered node rewards to simulate mining economics in a meme wrapper. You effectively run virtual nodes through a gamified dashboard, competing for higher reward tiers and social status.

This isn’t only fun, but it can help keep community participation high during volatile markets. Learn how to buy PEPENODE.

The $PEPENODE presale has already gained traction, having raised over $2.2M with tokens currently priced at $0.0011778. This puts it firmly in low-cap, high-optional-value territory if meme risk-on returns. And with staking rewards as high as 576% there’s even more incentive to opt-in.

That blend of narrative and gameified mechanics gives it a different profile from pure hype coins that rely solely on social media. As a bonus, you can even earn rewards in other popular coins like $PEPE and $FARTCOIN.

If dovish policy stokes another wave of speculative flows, $PEPENODE is a way to express that trade in a structured, mine‑to‑earn format rather than a raw punt.

3. Dogwifhat ($WIF): Solana Meme Beta for a Liquidity Wave
Any discussion of meme beta in this cycle has to include Dogwifhat ($WIF), the Solana-based meme coin that’s become a proxy for retail risk appetite. Built on Solana, $WIF benefits from low fees and high throughput, helping speculative traders rotate in and out quickly without the friction you see on slower chains.

Recent market action underlines that reflexivity. $WIF rallied over 20% in a single seven‑day stretch, reclaiming momentum among Solana meme coins. It currently sits around rank #109 by market cap, with strong trading activity and recurring bursts of retail attention.

Beyond price, $WIF has a sticky community that treats it as a cultural asset, not just a ticker. In a macro regime where the Fed signals friendlier policy, that kind of community‑driven liquidity can compound quickly as traders hunt for leverage to a Solana-led alt season.

If you expect a Hasset Fed to extend the runway for high‑beta risk, Dogwifhat ($WIF) is a straightforward way to capture Solana meme exposure without betting on unproven microcaps. It sits at the intersection of chain narrative, cheap blockspace, and viral culture.

Recap: If Kevin Hassett ushers in a looser Fed, Bitcoin Hyper, PEPENODE, and Dogwifhat each offer distinct ways to ride that liquidity wave.

Remember, this isn’t intended as financial advice, and you should always do your own research before investing.

Authored by Aaron Walker, NewsBTC — https://www.newsbtc.com/news/best-crypto-to-buy-kevin-hassett-becomes-fed-chair-and-looser-poilcy-fuels-btc/

TL;DR

Vanguard’s decision to allow crypto ETFs has pushed Bitcoin above $93,000, marking a 10% rally this week.
Macro conditions, including an expected US interest rate cut, support risk-on sentiment benefiting digital assets.
Over $490 million in crypto liquidations occurred in the last 24 hours, highlighting market volatility, with BTC leading at $243 million and ETH at $101 million.

Bitcoin surged past $93,000, gaining 7% in the last 24 hours, following a major policy shift by Vanguard, the $11 trillion asset manager that had long avoided digital assets. Analysts link the rally to broader macroeconomic expectations, as investors anticipate the Federal Reserve will lower interest rates in its upcoming meeting. Ethereum also climbed 9% to $3,064, reflecting widespread market optimism.

Vanguard’s Strategic Shift Boosts Bitcoin Demand
Vanguard’s embrace of regulated crypto ETFs opens the door for over 50 million retail clients to access digital assets. This move aligns Vanguard with other institutional giants such as BlackRock, Fidelity, and Franklin Templeton, which have incorporated crypto products over the past two years. Analysts say the decision signals growing institutional confidence, providing Bitcoin with a fresh source of inflows. Data from DefiLlama shows crypto ETFs added $59 million yesterday, continuing a five-day streak of net positive investment.

Market data also shows a pronounced imbalance in liquidations. Coinglass reports $419 million in short positions wiped out compared to $71 million in long positions, driven by sudden bullish moves. BTC led the losses at $243 million, while ETH accounted for $101 million, followed by SOL at $20.7 million and ZEC at $18.6 million. Bybit alone recorded a single liquidation of $13 million on BTCUSD, highlighting volatility at large order levels.

Macro Tailwinds Support Crypto Rally
Investors are pricing in a 87% probability of a 0.25% rate cut next Wednesday, according to CME FedWatch, with Polymarket bettors even more optimistic at 94%. Comments from Fed officials, including Christopher Waller, John Williams, and Mary Daly, have reinforced expectations for easing. Coinbase Singapore’s Hassan Ahmed noted that potential rate cuts could reignite risk appetite, benefiting digital assets globally.

The Nasdaq 100 also rose nearly 1%, signaling broader risk-on sentiment in equity markets. Analysts suggest that the combination of institutional adoption, ETF inflows, and macroeconomic easing could sustain Bitcoin’s momentum in the short term.

Bitcoin and Ethereum now show strong performance across trading platforms, reflecting both short-term liquidations and renewed investor interest, suggesting the market may remain in an upward trajectory as policy expectations unfold.

A high-profile panel at Binance Blockchain Week brought together Brad Garlinghouse of Ripple, Lily Liu of the Solana Foundation, and Binance's Richard Teng to dissect the latest trends shaping digital asset markets.

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The crypto market starts the session with Bitcoin trying to reclaim the same $93,000 line it lost at the start of December, pulling sentiment back into recovery mode. XRP ETFs continue the streak with no single red day since launch. SHIB prints a bottom signal that looks stronger than anything it showed in months. BTC’s monthly Bollinger Band setup still treats $125,000 as the main scenario, not a fantasy number.

TL;DRXRP ETFs approach $1 billion in less than a month.SHIB hints at a 29% move to the weekly midband.Bitcoin regains $92,000 and carries a clean $125,000 upper-band setup.XRP nears first $1 billion in ETFsFull-fledged spot XRP ETFs launched only on Nov. 13, and barely 30 days have passed — yet they already pulled $824 million in cumulative inflows as of Dec. 2. The pace did not slow with time, it accelerated. This week alone — and we are only two days in — already added $157 million, according to SoSoValue. If this trend keeps its shape, crossing the $1 billion line this week can become a very real outcome, with three trading days still left.

The other part that stands out is the uniformity: not a single red day from launch. Every session ended with inflows, across all issuers — Canary, Bitwise, Grayscale, Franklin Templeton — and the daily dashboard on Dec. 2 added another $67.74 million, pushing total net assets to $844.99 million.

HOT Stories

Source: SoSoValueNo, these inflows still are not strong enough to recreate what ETFs did for Bitcoin — that effect was built on a very different supply dynamic — but the current scale looks strong enough to hold XRP above $2 even in weaker market windows.

With Bitcoin recovering and giving the whole market a boost, XRP finds itself among the altcoins best positioned to ride this environment. For a token that spent years under a regulatory cloud because of SEC v. Ripple, pulling $1 billion in flows in in under a month is not something you can ignore.

Shiba Inu (SHIB) on the verge of 29% price riseShiba Inu (SHIB) seems to be benefiting massively from the latest market rebound. According to TradingView, the coin added more than 11% in the last 10 days, which is actually big for an asset that many had already declared "dead." SHIB holders never left, and the chart looks about ready to reward them with a clean upside push.

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The weekly Bollinger Bands make the setup simple: SHIB printed what looks like a bottom reversal right at the lower band. If the market stays green, the next natural stop is the midband at $0.00001134. 

SHIB/USD by TradingViewFrom the current region near $0.00000881, that is a 29% move. The structure supports it: SHIB spent months drifting under its range, volatility was compressed and now even moderate inflows can produce outsized reactions.

If market conditions do not slip, SHIB’s 29% window is not speculation — it is the logical extension of its weekly performance.

Bitcoin to $125,000 closer than you think: Bollinger BandsBitcoin once again defies the usual expectations. If you did not sell into the early-December fear, congratulations — the price is back to where it was at the close of November. BTC fought through several violent swings but still ended up right in the $92,000-$93,000 zone, which remains the most stubborn resistance level in the whole structure.

What happens above that is the real story. The monthly Bollinger Bands already point at the upper band around $125,000 as the main scenario. BTC defended the midband perfectly and reversed from it, which is exactly how strong cycles behave. Even John Bollinger himself acknowledged how clean the W-bottom is, even if he is not fond of the risk/reward for fresh entries. The pattern is still the pattern.

A confident break of $93,000 would open a straight path toward the low $100,000s, with the $125,000 band acting as the natural magnet. Everything else in the market is wired to follow this move.

Crypto market outlookWatch how Bitcoin handles the $93,000 ceiling this week because a clean breakout flips the entire market into $100,000-plus trajectory, accelerates ETF-driven flows into XRP and gives SHIB the green backdrop it needs to complete its 29% move.

Bitcoin (BTC): Pushing into $93,000: Above this level, the next pocket sits around $102,000-$108,000, with $125,000 as the upper-band target.XRP: $2.10-$2.20 range holds with ETF flows acting as the main stabilizer.Shiba Inu (SHIB): Weekly midband target at $0.00001134 teases a 29% upside.
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New app, with AI integration, marks the next phase of Prudential Advisors Connect, the award-nominated platform

, /PRNewswire/ -- Prudential Advisors, the retail arm of Prudential Financial, Inc. (NYSE: PRU), with more than 3,000 financial advisors and fee-based financial planners who offer clients, including more than 3.5 million American families, a full range of financial advice and solutions, announced today the launch of the Prudential Advisors Connect mobile app, now available for iOS devices.

The latest development is part of Prudential Advisors' ongoing innovation strategy that continues to incorporate artificial intelligence (AI) into advisor productivity tools. The launch is a milestone and is central to Prudential empowering its advisors with on-the-go access as they continue to invest in setting a new standard for the advisor experience.

New mobile capabilities

The new Prudential Advisors Connect mobile app brings key desktop features to mobile devices for greater flexibility. Features include client search with access to portfolio summaries, leads dashboard with seamless calling and emailing integration, and a Microsoft Outlook agenda view for daily scheduling at a glance.

"The launch of our Prudential Advisors Connect mobile app marks an important step in our ongoing efforts to support advisors the way they support their clients," said Pat Hynes, president of Prudential Advisors. "By combining continuous data enhancements with practical mobile capabilities, we're empowering advisors to stay connected and informed — to be effective where they are. The app is about giving advisors more time for what matters most: building trusted relationships with their clients."

Designed to complement but not replace the desktop experience, the Prudential Advisors Connect mobile app is currently supported on iOS 18 and above, with Android coming soon.

Prudential Advisors Connect: a unified, cloud-based platform

Prudential Advisors Connect is Prudential Advisors' proprietary AI-enhanced productivity platform launched in 2024 after a rigorous nine-month research and development cycle. It integrates financial planning, CRM, investments, annuities and lead management. Collaboration with Prudential's advisors was key to development, and 74% of user-suggested enhancements have been implemented since launch.

Platform results demonstrate steady gains that include a 5% rise in advisor productivity, +10% in lead conversion, and +24% in Ease of Doing Business scores. Prudential Advisors Connect has not only garnered positive reviews internally, but it has also been externally recognized for its innovative design and user-driven development by leading industry publications.

Hynes concluded, "The latest advancements at Prudential Advisors underscore our technology with a human touch philosophy. We take pride in deploying cutting-edge platforms to enhance, not replace, advisor judgment. Our mission to empower advisors grows stronger every day, helping them deliver transformative financial planning and advice that builds brighter futures for their clients and communities."

ABOUT PRUDENTIAL ADVISORS

Prudential Advisors supports the growth and success of more than 3,000 financial advisors across the country, backed by local field leaders and associates in our headquarters. The business enables financial advisors to help their clients build wealth and meet financial goals through personalized advice and comprehensive solutions. For more information, please visit advisors.prudential.com.

ABOUT PRUDENTIAL

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of Sept. 30, 2025, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise, and innovation for 150 years. For more information, please visit news.prudential.com.

MEDIA CONTACT

Mike Klein
732-742-4032
[email protected]

SOURCE Prudential Advisors

Lake Stockholm, NJ AEC System Delivered and Preparing to Go Live WESTMINSTER, CALIFORNIA / ACCESS Newswire / December 3, 2025 / BioLargo, Inc. (OTCQX:BLGO), a cleantech innovator focused on sustainable water and environmental solutions, announced that its subsidiary, BioLargo Equipment Solutions & Technologies, Inc., has been prominently featured in Chemical Engineering magazine for its advances in electrostatic PFAS ("forever chemicals") treatment technology. The article, titled "Electrostatic PFAS Capture Produces Nearly Zero Waste," highlights the performance benefits of BioLargo's Aqueous Electrostatic Concentrator (AEC) platform, including its ability to remove long-, short-, and ultra-short-chain PFAS while generating dramatically less waste than conventional treatment methods.

0.68 g/t Au over 24.4 meters and 0.81 g/t Au over 22.9 meters in LBP1179 at Rangefront
0.61 g/t Au over 71.6 meters in LBP1192 at Discovery

VANCOUVER, British Columbia, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce additional reverse circulation (“RC”) drill results from the 2025 resource infill drilling program at its 100%-owned Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho, USA. The latest holes confirm and strengthen the Company’s geological model of the gold mineralization across the two main mineralized areas.

Highlights*

Results demonstrate strong correlation with the pre-feasibility block model and reinforce confidence in the lateral continuity of high-grade oxide gold zones and leach recovery characteristics across the deposit providing the opportunity for further resource growth in the upcoming Feasibility resource update.Drilling across the current Rangefront resource pit is defining new near-surface gold mineralization in areas, which were previously classified as waste due to the lack of drilling. This is expected to have a positive impact on the strip ratio as Feasibility mine planning progresses.Infill drilling continues to convert Inferred resources to Indicated and provide detailed confirmation of gold grade and distribution, increasing model confidence ahead of the Feasibility Study.Feasibility Resource modelling is underway, with an expected ~40,000 metres (“m”) of new drilling into the model and is expected to be completed in early Q1, 2026.Drilling is on-going with 3 rigs and the 2025 program is expected to complete at 33,000 m by mid-December, approximately 13,000 m of which will be included in a future resource update.
* Results are reported as drilled thickness, true thickness is approximately 70-100% of drilled thickness. Please refer to the full table at the link below for complete results.

“Drilling at Discovery and Rangefront continues to provide strong, as-expected results, with some pleasant surprises for future oxide gold resource growth,” stated Pete Shabestari, Vice President of Exploration. “The consistency of these infill results gives us further validation of the resource model and reinforces our confidence in the continuity of gold mineralization as we advance preparation of the Feasibility resource estimate. Black Pine has consistently demonstrated resource growth commensurate with drilling, and we expect this to continue at Rangefront with our upcoming Feasibility resource update.”

For a table showing complete drill results for the current release, see this link:
https://libertygold.ca/images/news/2025/December/BP_Intercepts_20251203.pdf

Figure 1: Plan Map of the Rangefront and Discovery zones with current drill holes

g/t Au = grams per tonne of gold

RANGEFRONT ZONE HIGHLIGHTS:

21 drill holes are reported from Rangefront with an additional ~30 holes still in the lab, with drilling ongoing. Rangefront drilling continues to produce results in-line with modelled gold grade and metallurgical characteristics. The program is addressing near-surface ‘gaps’ in drill data, which were a result of early-stage, widely spaced exploration drill pads. This systematic infill drilling is defining new oxide gold mineralization, where previously there was interpreted waste/cover rocks and is expected to have a positive impact on waste to ore ratios in the feasibility mine planning.

In addition to exploration infill drilling metallurgical (“PQ”) core drilling (7 holes, 1,524 meters) has also been completed. Samples from that drilling are currently being processed, and results are expected in early 2026. Composites from these PQ core holes will contribute to the Phase 10 metallurgical program, designed to improve spatial coverage of variability samples across Rangefront, prompted by the increase in the mineralized footprint.

Figure 2: Cross Section through the Rangefront Zone

DISCOVERY ZONE HIGHLIGHTS:

Discovery Zone drilling has been focused on geotechnical data collection, geology and mineralization model validation, and resource class upgrades. Drilling in all areas has confirmed the resource model and added confidence in the metallurgical classification and modeling. Drilling to the north has confirmed and improved upon historic drill results and continues to show strong oxide gold results that should increase and expand modelled high-grade zones in the upcoming resource.

Figure 3: Cross Section through the Discovery Zone

ABOUT LIBERTY GOLD

Liberty Gold is focused on developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  The Company is advancing the Black Pine Project in southeastern Idaho, a past-producing, Carlin-style gold system with a large, growing resource and strong economic potential. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios and in an environmentally responsible manner.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
[email protected]

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using a cut-off of 0.10 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 50% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 70% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation. 

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of Liberty Gold and its business, operations, properties and condition; planned de-risking activities at Liberty Gold’s mineral properties; future updates to the mineral resource, the potential quantity, recoverability and/or grade of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty Gold’s exploration property interests; the results of mineral resource estimates or mineral reserve estimates and preliminary feasibility studies; and the Company’s anticipated expenditures.

Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, timely receipt of governmental or regulatory approvals, including any stock exchange approvals; receipt of a financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, results or timing of any mineral resources, resource conversion, pre-feasibility study,  mineral reserves, or feasibility study; the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources, mineral reserves or feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing, timing of the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 25, 2025, in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except for material differences between actual results and previously disclosed material forward-looking information, or as otherwise required by law.

Except for statements of historical fact, information contained herein or incorporated by reference herein constitutes forward-looking statements and forward-looking information. Readers should not place undue reliance on forward-looking information. All forward-looking statements and forward-looking information attributable to us is expressly qualified by these cautionary statements.

Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The information, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.

Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “mineral reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards, adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.

Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “mineral reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards, adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/bf9ed1af-4a92-4b6a-a22c-d11639aee1df

https://www.globenewswire.com/NewsRoom/AttachmentNg/15034b27-1399-471f-bde7-6c2dce8b3460

https://www.globenewswire.com/NewsRoom/AttachmentNg/9ff85c8d-9aab-44b5-8d3c-8e6178880cee

Deutsche Bank identifies OpenAI's challenges and looks at possibles fixes for each.

By

Tom Carter

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Tesla's Shanghai gigafactory.

Xiaolu Chu/Getty Images

2025-12-03T11:02:09.012Z

Tesla scored a rare win in China, earning bragging rights over its biggest rival in the process.
Elon Musk's automaker saw its sales rise by nearly 10% in November, while its arch-rival BYD's fell.
Tesla has had a difficult year, with sales underwhelming in China and collapsing in Europe.

Things are finally looking up for Tesla in China.

The US automaker's sales rose 9.9% in November compared to the same month last year, according to data released by China's Passenger Car Association on Tuesday.

That's a rare win for Tesla, which has had a difficult year in almost all of its biggest markets. The company has faced a sales collapse in Europe, been squeezed by intense competition in EV-friendly China, and is on track to see its overall sales decline for the second consecutive year.

One bright spot for Tesla: it's not the only one with problems. The Elon Musk-run automaker's biggest Chinese rival, BYD, has hit some speed bumps in recent months.

The Shenzhen-based EV giant, which has become one of China's largest carmakers thanks to a range of affordable and high-tech electric models, has had three straight months of sales declines.

BYD said it sold just over 480,000 EVs and hybrids in November, its highest total this year, but still around 5.3% less than the same period in 2024.

The Chinese automaker, which was once backed by Warren Buffett, has struggled in the face of a renewed price war in China's ultra-competitive EV market and a government crackdown on aggressive discounting.

Despite these headwinds, BYD is still on course to take Tesla's crown as the world's largest seller of battery EVs this year, and the company is rapidly taking market share from Musk and co. outside China.

BYD's overseas sales hit a record 131,935 in November. The Chinese auto giant is taking advantage of Tesla's woes in Europe, with BYD outselling its US rival by more than two to one in October.

Tesla

China

Read next

Analyst’s Disclosure:I/we have a beneficial long position in the shares of FR.PA, BWA, PHIN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

NORWALK, Conn., Dec. 03, 2025 (GLOBE NEWSWIRE) -- FactSet (NYSE:FDS) (NASDAQ:FDS), a global financial digital platform and enterprise solutions provider, and Arcesium, a leading global financial technology firm for the investment industry, today announced a strategic partnership to deliver a unified investment management offering designed to seamlessly integrate front, middle, and back office asset management workflows across public, private, and alternative markets. This partnership addresses the growing demand for solutions that unify workflows, connect fragmented data, and enable firms to navigate the increasing complexity of modern investing.

“Feedback from our clients across the industry consistently highlights data fragmentation as the leading operational challenge facing asset managers today, with some estimates showing that regulatory compliance costs for global asset managers have doubled over the past decade,” said David Mellars, SVP, Senior Director, Middle Office Product Management at FactSet. “These pressures are driving significant changes in how firms approach both innovation and everyday operations, and FactSet’s partnership with Arcesium is in direct response. Combatting fragmentation and unifying the entire deal lifecycle, inclusive of back office accounting solutions, is an essential step for the industry, especially as capital markets rapidly evolve, regulations shift, and competition intensifies across asset classes. This is more than an integration; it’s a shift toward connected capital, where data, technology, and innovation converge to redefine the future of investing.”

Integrating analytics engines, data pipelines, and AI-powered workflows, this end-to-end solution enables deeper due diligence, and streamlined portfolio monitoring and reporting across asset classes. Buy-side teams can efficiently ingest, model, and analyze diverse asset types—including illiquid and bespoke investments—yielding a "single source of truth" for investment and compliance teams.

Comprehensive Coverage Across All Asset Classes:
Rather than focusing primarily on public markets or requiring disparate systems for private and alternative assets, the FactSet-Arcesium solution is purpose-built to provide seamless integration of workflows across public, private, and alternative asset classes, ensuring unified operations and reporting.

For asset owners and managers—including pension funds, family offices, and hedge funds—the convergence of public and private markets is accelerating dramatic shifts in capital allocation and industry competition. FactSet data illustrates that private credit has become a standout segment, with record fundraising climbing from $198 billion in 2023 to $210 billion in 2024, and $124 billion raised in just the first half of 2025, according to FactSet estimates. Industry concentration is escalating: FactSet data indicates that mega-managers now secure 46 percent of capital raised, despite representing less than 3 percent of the managers, intensifying competition for high-quality assets.

As global private capital continues to grow, asset owners and managers must contend with rising data and transparency demands, and increasingly complex portfolios, a challenge addressed by unified solutions like FactSet and Arcesium’s partnership, enabling smarter navigation of today’s multi-asset landscape.

Truly End-to-End Platform: Front, Middle & Back Office Connected
By leveraging FactSet’s global data infrastructure and Arcesium’s cloud-native technology, the partnership delivers superior data consistency and advanced analytics within a flexible, interoperable platform, uniquely addressing the challenge of integrating critical middle and back-office functions, such as accounting and compliance, that have historically been underserved or siloed. This empowers asset managers to streamline operations, automate processes, and adapt rapidly to evolving regulatory demands without vendor lock-in.

“Integrating Arcesium's comprehensive post-trade platform with FactSet's robust investment analytics has significantly enhanced our operational efficiency. This seamless integration allows us to streamline portfolio management, improve performance analytics workflows, and make more informed investment decisions," commented Neal J. Wilson, Co-Chief Executive Officer and Co-Chief Investment Officer, EJF Capital.

This platform combines FactSet’s advanced front and middle-office analytics and portfolio management tools with Arcesium’s proven back-office technology, including IBOR (Investment Book of Record), ABOR (Accounting Book of Record), and Reference Data solutions. By bridging the gap between public and private assets, the platform delivers a single source of truth that simplifies processes, enhances transparency, and accelerates decision-making.

“In an increasingly complex and interconnected financial landscape, firms require sophisticated, unified solutions to navigate evolving market dynamics and regulatory demands,” said Mahesh Narayan, SVP, Head of Commercial Partnerships at Arcesium. “By combining Arcesium's deep operational and data management capabilities, including our UBOR and Aquata platforms, with FactSet's comprehensive front-office suite, we are delivering a truly holistic and future-proof solution. This partnership will enable our clients to achieve unprecedented levels of data integrity, accelerate their data strategies, and unlock new growth opportunities across all asset classes.”

For more information about this end-to-end solution from FactSet and Arcesium, register for this webcast, hosted by Cutter Associates: https://info.cutterassociates.com/newsmaker-a-first-look-at-the-factset-arcesium-collaboration-for-the-buy-side.

About FactSet
FactSet (NYSE:FDS | NASDAQ:FDS) supercharges financial intelligence, offering enterprise data and information solutions that power our clients to maximize their potential. Our cutting-edge digital platform seamlessly integrates proprietary financial data, client datasets, third-party sources, and flexible technology to deliver tailored solutions across the buy-side, sell-side, wealth management, private equity, and corporate sectors. With over 47 years of expertise, a presence in 20 countries, and extensive multi-asset class coverage, we leverage advanced data connectivity alongside AI and next-generation tools to streamline workflows, drive productivity, and enable smarter, faster decision-making. Serving approximately 9,000 global clients and over 237,000 individual users, FactSet is a member of the S&P 500 dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

About Arcesium
Arcesium is a global financial technology company delivering pre- and post-investment and enterprise data management solutions to some of the world’s most sophisticated financial institutions, including private market firms, hedge funds, and institutional asset managers. Expertly designed to achieve a synchronized golden source of data throughout a client’s ecosystem, Arcesium’s cloud-native technology is built to systematize the most complex workflows and help clients achieve scale.

Today, Arcesium services over $5.3 trillion in gross AUM and over $1.2T in sell-side capital balances and has modelled over 160+ million investments to date. Arcesium was built from a platform developed and tested by investment and technology development firm, the D. E. Shaw group, and launched as a joint venture with Blackstone Multi-Asset Investing. J.P. Morgan, another large client, later made a strategic investment in the company, helping Arcesium further its mission: to power the entire investment lifecycle. Arcesium currently has a staff of over 2,300 software engineering, accounting, operations, and treasury professionals. For more information about Arcesium and its capabilities, visit www.arcesium.com and follow the firm on LinkedIn.

Investor Relations:
Kevin Toomey
+1.212.209.5259
[email protected]

Media Relations:
Kelsey Goldsmith, FactSet
+1.207.712.9726
[email protected]

Danielle Meyer, on behalf of Arcesium
+1 513-646-2648
[email protected]

HomeDividends AnalysisREITs AnalysisReal Estate Analysis

SummaryEasterly Government Properties (DEA) trades at 7.3x forward FFO, offering an 8.3% yield and a well-covered dividend after a recent cut.
DEA's portfolio remains highly occupied (97%) with long-term government leases, supporting stable cash flows and conservative 2-3% annual FFO growth guidance.
Management is prioritizing deleveraging, targeting sub-6x leverage, and maintaining investment-grade credit, while acquisition activity remains disciplined.
The market's bearishness and valuation discount appear overdone, presenting an attractive risk/reward for patient, yield-focused investors.
halbergman/E+ via Getty Images

Introduction When I last wrote about Easterly Government Properties (DEA) in September 2024, the stock was trading comfortably above current levels and the narrative felt straightforward: a high-quality portfolio of mission-critical government-leased assets, a still-reasonable balance sheet, and

Analyst’s Disclosure:I/we have a beneficial long position in the shares of DEA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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December 03, 2025 6:10 AM EST | Source: Ivanhoe Mines Ltd.
2026 copper production range 380,000 to 420,000 tonnes and 2027 copper production range 500,000 to 540,000 tonnes

2026 copper sales expected to exceed production as surplus concentrate inventory at smelter is cleared; first feed is expected at the end of December

Medium-term annualized copper production target maintained at 550,000 tonnes

Kakula Mine Stage 2 dewatering progressing well at over 60% complete; high-capacity submersible pumps lowered to continue dewatering efforts

Johannesburg, South Africa--(Newsfile Corp. - December 3, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President and Chief Executive Officer Marna Cloete announce today Kamoa-Kakula's copper production guidance for 2026 and 2027, as well as an update on the Kakula Mine's dewatering activities.

Dewatering of the Kakula Mine is progressing well, with dewatering approximately 70% complete on the western side of the mine and 60% complete on the eastern side. To date, 13.4 kilometres of underground workings have been rehabilitated and made safe for resumption of operations, including 4.6 kilometres which were dewatered.

Positive progress to date on underground rehabilitation, along with ongoing mine planning, provides Kamoa-Kakula's management team with sufficient confidence to issue copper production guidance of 380,000 to 420,000 tonnes for 2026 and 500,000 to 540,000 tonnes for 2027. Kamoa-Kakula is still targeting medium-term production of approximately 550,000 tonnes. An updated life-of-mine plan for Kamoa-Kakula is on target for completion in late Q1 2026.

Following the commencement of the Kamoa-Kakula Copper Smelter as announced on December 1, 2025, copper sales in 2026 are expected to be higher than copper production as the on-site inventory of unsold copper concentrate is destocked by approximately 20,000 tonnes of copper.

Ivanhoe Mines Founder and Executive Co-Chairman Robert Friedland commented:

"The turnaround at Kamoa-Kakula is advancing with confidence. Even during the recovery years of 2025 and 2026, this remarkable copper complex is set to produce approximately 400,000 tonnes of copper … an extraordinary testament to the quality of Kamoa-Kakula's world-leading natural endowment. As we move through this transition and into the next phase of growth in the coming years, Kamoa-Kakula and the Western Forelands will become one of the largest, if not the largest, copper complexes in the world. Our stakeholders are blessed with a Tier-One mining complex that will operate for generations to come.

"We are also on the cusp of a transformational change for Kamoa-Kakula and the Democratic Republic of the Congo as we transition from producing copper in concentrate in huge volumes, to producing copper anodes for sale to consumers all over the world, at our own smelter complex, the largest in Africa."

Ivanhoe Mines President and Chief Executive Officer Marna Cloete commented:

"We extend our deepest gratitude to the entire team at Kamoa-Kakula for their unwavering dedication throughout the dewatering and rehabilitation of the Kakula Mine. They have worked under pressure, and done so with discipline, resilience, and an unshakable commitment to doing things the right way. Most importantly, they have carried out this demanding work with an outstanding focus on safety. Their dedication and professionalism are the foundation of our progress, and we are extremely proud of their achievements."

Kakula copper grades improving as dewatering activities re-open higher-grade mining areas

The revised Kakula mine design has been developed based on geotechnical expert guidance, including new pillar designs and extraction sequencing.

Mining rates on the western side of Kakula have increased to an average rate of 350,000 tonnes per month, equivalent to 4.2 million tonnes (Mt) annualized.

Mining activities have been focused on higher-elevation areas in the north and southwest, where copper grades are lower than those of the higher-grade centre section. As water levels on the western side recede, mining crews are advancing towards the high-grade centre section, where grades increase to between 3.5% and 4.0% from mid-December.

Mining rates at Kakula are expected to improve gradually through 2026. Selective mining within the existing workings on the eastern side of the Kakula Mine is expected to start in Q1 2026, augmenting rising production rates from higher-grade areas on Kakula's western side. This is expected to increase production rates to 450,000 tonnes per month, or 5.5 Mtpa annualized, by the end of the quarter. In addition, underground development towards a new mining area further to the east is expected to begin mining ore from mid-year 2026.

Approximately 6 Mt of ore is expected to be mined at Kakula during 2026, which is expected to increase to between 7 and 8 Mt during 2027. Grades are expected to range from 3.5% to 4.5% during this period. Approximately 70% of the ore will be sourced from the western side of the Kakula Mine during 2026, which will reduce during 2027 as new mining areas on the eastern side are opened up. All ore mined from the Kakula Mine will be processed by the Phase 1 and 2 concentrators.

Mining rate of the Kamoa mines targeted to increase to 10 million tonnes per annum in 2027, filling the Phase 3 concentrator and supporting the Phase 1 and 2 concentrators

The combined annualized mining rate of Kamoa 1, Kamoa 2 and Kansoko underground mines (the Kamoa mines) is targeted to increase from approximately 6.5 Mt currently, to approximately 8.5 Mt in 2026 and to over 10 Mt in 2027. Grades from the Kamoa mines are expected to average approximately 2.5% during this period.

Increased mining rates will be supported by a newly commissioned belt at Kamoa 1, new mine accesses at Kansoko Sud to improve efficiency and new mine accesses at Kamoa 2 to increase the number of underground crews. Mining efficiency is also expected to improve through increased end availability and redundancy, as well as other productivity enhancements.

The Kamoa mines are operating in accordance with similar geotechnical expert guidance, incorporating learnings from Kakula.

The increased mining rate will enable the Kamoa mine to feed the Phase 3 concentrator and provide supplementary feed to the Phase 1 and 2 concentrators, as shown in Figure 1.

Total processing capacity of Phase 1, 2 and 3 concentrators to reach 17 million tonnes per annum from 2027

The Phase 1 and 2 concentrators will continue to process ore from the western side of the Kakula Mine and surface stockpiles until Q1 2026 when the stockpiles are depleted. In addition, from Q1 2026, Phase 1 and 2 will be supplemented with an increasing quantity of ore from the eastern side of Kakula, as well as ore trammed from Kamoa.

In 2026, approximately 2 Mt of ore from Kamoa is expected to be processed by the Phase 1 and 2 concentrators. In 2027, this is expected to increase to 2.5 Mt.

The Phase 1 and 2 concentrators have demonstrated combined operating capacity of 10.5 Mtpa, or 5.25 Mtpa per line, since various de-bottlenecking activities were completed.

The Phase 3 concentrator will continue to process at a rate of 6.5 Mt per annum, which has also been demonstrated over many months of operations, fed by the Kamoa mines.

The recoveries of the Phase 1 and 2 concentrators are expected to improve following the completion of Project 95 in Q2 2026, after which recoveries are expected to increase to approximately 95% over time. A similar capital project to increase copper recoveries from Phase 3 to approximately 92% is under consideration but not included in the 2026 or 2027 production profile.

Figure 1. Kamoa-Kakula Copper Complex processing strategy by mining area in 2026 and 2027 (Mt)

 To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3396/276774_4447ebfe14273a8b_002full.jpg

Updated life-of-mine integrated development plan on track for Q1 2026; targeting return of annualized copper production to approximately 550,000 tonnes

Work is advancing on track for the updated life-of-mine integrated development plan to be completed by end of Q1 2026. The plan includes a full review of both the Kakula and Kamoa life-of-mine plans, based on Phase 1, 2 and 3 at a processing rate of 17 million tonnes per annum, prior to the Phase 4 expansion. The study will also include an expansion scenario for Phase 4, intended to increasing processing capacity by 6.5 Mt per annum by constructing a duplicate of the Phase 3 concentrator.

Production rates are expected to steadily improve as the Kakula Mine recovery plan is completed, and annualized copper production expected to return to approximately 550,000 tonnes over the medium and long term.

Kakula Mine Stage 2 dewatering progressing well at over 60% complete; high-capacity submersible pumps lowered to continue dewatering efforts

As announced on September 18, 2025, Stage 2 dewatering activities have been underway since early September, when two pairs of high-capacity submersible pumps, with a combined capacity of 2,600 litres per second were installed and commissioned in under six weeks.

Dewatering activities successfully split the flooded areas into discrete western and eastern zones during the month of November. Dewatering from the western side of the mine is 70% complete (measured by total volume of water) as at the start of December and is expected to be fully completed by the end of January by Stage 3 (steady-state) dewatering.

Stage 3 dewatering consists of re-commissioning the existing, water-damaged underground horizontal pump stations which are used during steady-state operations. The rehabilitation work consists of fitting new pump motors, substations and electrical cabling. All the required equipment is on site, and the installation work will take place once access to the horizontal pump stations becomes available. To date, approximately 800 litres per second of Stage 3 pumping capacity has been re-established. Access to an additional 800 litres per second of pumping capacity is expected by year end, with access to a further 600 litres per second of pumping capacity expected in January 2026.

On the eastern side of the mine, Stage 2 dewatering is 60% complete. The first pair of pumps (Pumps 3 and 4) ran dry during the last week of November, as planned, with the water level declining by a total of 38 metres, or approximately 84% from the initial water level measurement. Following an underground survey, Pumps 3 and 4 were repositioned lower by up to 19 metres to enable pumping to continue for a further 3 weeks.

The second pair of pumps (Pumps 1 and 2), which were installed in a deeper section of the mine, as shown in Figure 2, have reduced the water level by 45 metres, or approximately 48% from the initial measurement. Pumps 1 and 2 are expected to continue operating into Q1 2026, as Stage 3 dewatering is ramped up.

Over 2,200 megalitres of water lie below the level of the Stage 2 dewatering pumps, which will be pumped out gradually using the Stage 3 dewatering infrastructure. This existing flooded mine area is not on the critical path for ramping up mining rates on the eastern side of the Kakula Mine, which will be focused on a new mining area on the east beyond a barrier pillar. Future mining will be de-risked by dewatering in advance of the working face, using similar technology to the Stage 2 dewatering system.

Figure 2. A schematic of the underground water levels at the Kakula Mine as at December 1, 2025, overlaid with the underground pumping infrastructure.

Looking south over the two surface-mounted pump stations that provide the Stage 2 dewatering. Combined, both pumps operate at 2,600 litres per second.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3396/276774_4447ebfe14273a8b_004full.jpg

2026 & 2027 COPPER PRODUCTION GUIDANCE

Kamoa-Kakula Production Guidance
2026 contained copper (tonnes)380,000 - 420,0002027 contained copper (tonnes)500,000 - 540,000Guidance figures are on a 100% project basis.

Kamoa-Kakula's 2026 and 2027 production guidance is based on several assumptions and estimates. It involves estimates of known and unknown risks, uncertainties, and other factors that may cause the actual results to differ materially.

The 2025 production guidance was revised on June 11, 2025 following the seismic activity as reported on May 20, 2025, and associated interruptions in mining operations at the Kakula Mine. The Kamoa-Kakula Copper Complex produced 316,395 tonnes of copper in concentrate for the nine months ended September 30, 2025 and is on track to meet revised full-year guidance of 370,000 to 420,000 tonnes of copper.

Although mining on the western side of the Kakula Mine has restarted, risk factors remain, including the integrity of underground infrastructure once dewatering is complete, the ability to ramp up underground operations, the ability to complete dewatering activities, and the time required to access the new mining areas. The updated 2026 and 2027 production guidance ranges for Kamoa-Kakula are based on an assessment of these factors that management believes are reasonable at this time, given all available information.

Kamoa-Kakula's adjusted 2025 and 2026 capital expenditure guidance, as announced on October 29, 2025 remains unchanged. Cash cost (C1) guidance for 2026 will be provided with the 2025 full-year financial results in February 2026.

Qualified Persons

Disclosures of a scientific or technical nature at the Kamoa-Kakula Copper Complex in this news release have been reviewed and approved by Steve Amos, who is considered, by virtue of his education, experience, and professional association, a Qualified Person under the terms of NI 43-101. Mr. Amos is not considered independent under NI 43-101 as he is Ivanhoe Mines' Executive Vice President, Projects. Mr. Amos has verified the technical data disclosed in this news release.

Ivanhoe has prepared an independent, NI 43-101-compliant technical report for the Kamoa-Kakula Copper Complex, which is available on the company's website and under the company's SEDAR+ profile at www.sedarplus.ca:

Kamoa-Kakula Integrated Development Plan 2023 Technical Report dated March 6, 2023, prepared by OreWin Pty Ltd.; China Nerin Engineering Co. Ltd.; DRA Global; Epoch Resources; Golder Associates Africa; Metso Outotec Oyj; Paterson and Cooke; SRK Consulting Ltd.; and The MSA Group. The technical report includes relevant information regarding the assumptions, parameters, and methods of the mineral resource estimates on the Kamoa-Kakula Copper Complex cited in this news release, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this news release.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa.

Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high- grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons including Angola, Kazakhstan, and Zambia.

Website: www.ivanhoemines.com

Forward-looking statements

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company, its projects, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified using words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events, or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance, and results and speak only as of the date of this release.

Such statements include, without limitation: (i) statements regarding production guidance of 380,000 to 420,000 tonnes for 2026 and 500,000 to 540,000 tonnes for 2027; (ii) statements that Kamoa-Kakula is continuing to target medium-term production of approximately 550,000, as the Kakula Mine recovery plan is completed; (iii) statements that updated life-of-mine plan for Kamoa-Kakula is on target for completion in late Q1 2026; (iv) statements that copper sales in 2026 are expected to be higher than copper production as the on-site inventory of unsold copper concentrate is destocked by approximately 20,000 tonnes of copper; (v) statements that mining rates at the Kakula Mine are expected to improve gradually through 2026; (vi) statements that selective mining within the existing workings on the eastern side of the Kakula Mine is expected to start in Q1 2026, augmenting rising production rates from higher-grade areas on Kakula's western side, which is expected to increase production rates to 450,000 tonnes per month, or 5.5 Mtpa annualized, by the end of the quarter; (vii) statements that underground development towards a new mining area further to the east is expected to begin mining ore from mid-year 2026; (viii) statements that approximately 6 Mt of ore will be mined at Kakula during 2026, which is expected to increase to between 7 and 8 Mt during 2027, and that grades are expected to range from 3.5% to 4.5% during this period; (ix) statements that approximately 70% of the ore will be sourced from the western side of the Kakula Mine during 2026, which will reduce during 2027 as new mining areas on the eastern side are opened up; (x) statements that all ore mined from the Kakula Mine will be processed by the Phase 1 and 2 concentrators; (xi) statements that the combined annualized mining rate of Kamoa 1, Kamoa 2 and Kansoko underground mines (the Kamoa mines) is targeted to increase from approximately 6.5 Mt currently, to approximately 8.5 Mt in 2026 and to over 10.0 Mt in 2027, with grades from the Kamoa mines expected to average approximately 2.5% during this period; (xii) statements that increased mining rates will be supported by a newly commissioned belt at Kamoa 1, new mine accesses at Kansoko Sud to improve efficiency and new mine accesses at Kamoa 2 to increase the number of underground crews, and that mining efficiency is also expected to improve through increased end availability and redundancy, as well as other productivity enhancements; (xiii) statements that the increased mining rate will enable the Kamoa mine to feed the Phase 3 concentrator and provide supplementary feed to the Phase 1 and 2 concentrators; (xiv) statements that in 2026, approximately 2 Mt of ore from Kamoa is expected to be processed by the Phase 1 and 2 concentrators, and that in 2027, this is expected to increase to 2.5 Mt; (xv) statements that the recoveries of the Phase 1 and 2 concentrators are expected to improve following the completion of Project 95 in Q2 2026, after which recoveries are expected to increase to approximately 95% over time; statements that a capital project to increase copper recoveries from Phase 3 to approximately 92% is under consideration but not included in the 2026 or 2027 production profile; (xvii) statements that dewatering from the western side of the Kakula mine is expected to be fully completed by the end of January by Stage 3 (steady-state) dewatering; and (xviii) statements that access to an additional 800 litres per second of pumping capacity is expected by year end, with access to a further 600 litres per second of pumping capacity expected in January 2026.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: (i) uncertainty around the rate of water ingress into underground workings; (ii) the ability, and speed with which, additional equipment can be secured, if an as required; (iii) the continuation of seismic activity; (iv) the full state of underground infrastructure; (v) uncertainty around when future underground access can be fully secured; (vi) the fact that future mine stability cannot be guaranteed; (vii) the fact that future mining methods may differ and impact on Kakula operations; and (viii) the ultimate conclusion of the assessment of the cause of the seismic activity at Kakula and the impact of same on the final mining plan at the Kamoa Kakula Copper Complex. Additional factors also include those discussed above and under the "Risk Factors" section in the company's MD&A for the three and nine months ended September 30, 2025, and its current annual information form, and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; changes in the rate of water ingress into underground workings; recurrence of seismic activity; the state of underground infrastructure; delays in securing full underground access; changes to the mining methods required in the future; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section in the company's MD&A for the three and nine months ended September 30, 2025, and its current annual information form.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276774

Iridium Communications Inc. (IRDM) Bank of America Leveraged Finance Conference December 2, 2025 3:30 PM EST

Company Participants

Vincent O'Neill - Chief Financial Officer

Conference Call Participants

Ana Goshko - BofA Securities, Research Division

Presentation

Ana Goshko
BofA Securities, Research Division

2025 Leveraged Finance Conference. I'm Ana Goshko. I cover telecom and technology on the credit side, and we're thrilled to have Iridium Communications with us today, and Vincent O'Neill, the company's Chief Financial Officer. I think you go by Vince.

Vincent O'Neill
Chief Financial Officer

Vince.

Question-and-Answer Session

Ana Goshko
BofA Securities, Research Division

Yes, Vince. Yes. Thank you so much for being with us and making the journey here. So without further ado, I thought maybe you could start by, just in case we have anyone in the audience that's new to the Iridium story, just start with a few minute kind of brief summary of the company's history, the nature and scale of your network and then where you participate in the market.

Vincent O'Neill
Chief Financial Officer

Sure. So I assumed the CFO role at Iridium on the 1st of January. I've been at Iridium for 11 years. So I've obviously seen a lot of things during my time there. Spent a lot of time in the corporate planning and development group.

But for those of you who are not familiar with Iridium, Iridium is a company today that throws off over $300 million in free cash flow. And we have a network of satellites that operate in LEO in low earth orbit. And so we have a constellation of 66 satellites that constantly circumference the globe in 6 planes of 11 satellites each.

Our network is global in nature. We're the only truly global satellite provider out there. And we operate in the L-band spectrum. And the L-band

Recommended For You

Bitcoin (BTC) is due for a “parabolic” reaction as a classic volatility indicator plumbs new all-time lows.

Key points:

Bitcoin’s Bollinger BandWidth indicator offers hope of a 2023-style BTC price surge into year-end.

BandWidth avoided a “red” event despite the recent BTC price drawdown.

Traders demand more proof of an enduring market rebound.

Bitcoin Bollinger BandWidth preps “parabolic leg up”In an X thread on Wednesday, macro strategist Gert van Lagen presented a key signal from Bitcoin’s Bollinger BandWidth.

Bollinger BandWidth measures the percentage difference between the upper and lower Bollinger bands, which themselves act as a leading indicator for BTC price volatility.

On monthly timeframes, that difference has never been smaller, per data from sources including Cointelegraph Markets Pro and TradingView.

BTC/USD one-month chart with Bollinger BandWidth data. Source: Cointelegraph/TradingView
History shows that BandWidth rarely drops below 100 on its scale, but each time it does, the BTC price reacts sharply.

“Historically, every time this triggers, Bitcoin follows with a direct parabolic leg up,” Van Lagen commented.

“No red signal flashed in the previous months…” BTC/USD one-month chart with Bollinger BandWidth data. Source: Gert van Lagen/X
An accompanying chart shows previous instances of such a parabolic result. The previous “green” signal came at the start of November 2023, after which BTC/USD doubled in four months.

Continuing, Van Lagen referenced his future BTC price expectations, which involve a final push to new highs before Bitcoin’s next bear market ensues.

“This setup is identical to GOOGL prior to its final blow off wave, right before the 2008 financial crisis. A cascade of lower highs on the Bollinger Bandwidth, which gets broken to feed the subsequent bearish HTF volatility,” he wrote.

Too soon to celebrate?Bitcoin traders remain unconvinced by market strength this week amid tentative signs of a recovery.

$BTC 1W

Still just a breakdown & retest scenario until proven otherwise. Still going to plan.

Volume is low, MACD/RSI needed a reset on 1D and below, + we dropped 45k with no bounce.

I wouldn’t get loud on calling a bottom quite yet. https://t.co/VW0b0VF8IF pic.twitter.com/Rerl1KTvOW

— Roman (@Roman_Trading) December 2, 2025On Wednesday, BTC/USD reached its highest levels in over two weeks, eyeing $94,000 on the back of rumors of a pro-crypto US Federal Reserve chair.

“Price did now make a higher high and higher low, so technically the market structure is back to bullish on this timeframe,” trader Daan Crypto Trades acknowledged in an X post. 

“But to properly get this going I want to see it sustain above this current price area.” BTC/USDT perpetual contract four-hour chart. Source: Daan Crypto Trades/X
As Cointelegraph reported, the current spot price zone holds significant importance for the 2025 yearly candle, with BTC/USD starting the year at $93,500.

“Bitcoin has an entire month to perform 2% upside to end the month above the ~$93500 Four Year Cycle level and close the year as a green candle,” trader and analyst Rekt Capital noted Tuesday.

BTC/USD 12-month chart. Source: Rekt Capital/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

10h15 ▪
4
min read ▪ by
Luc Jose A.

Summarize this article with:

Gold breaks records, global liquidity explodes, but bitcoin lags behind. This divergence raises questions : why does the flagship crypto asset, supposed to protect against monetary dilution, not react ? A Bitwise report reveals an unprecedented valuation gap between BTC and money supply growth. Market error or major opportunity ? The lines could move, and faster than we think.

In brief

Bitcoin remains below the $100,000 mark while global liquidity reaches record levels.
A Bitwise report reveals a 66 % valuation gap between BTC and global monetary growth.
According to their models, the theoretical fair value of bitcoin could be around $270,000.
2026 could mark a turning point if the market finally reacts to current macroeconomic fundamentals.

Bitcoin facing a historic undervaluation according to Bitwise
In its latest macroeconomic report dedicated to bitcoin, the asset manager Bitwise reveals a major undervaluation of the asset compared to the global monetary environment.

“Bitcoin underperforms the global money supply by 66%, implying a fair value close to 270,000 dollars”, explains the report, based on a cointegration model between BTC and the global monetary aggregate M2, currently estimated at 137 trillion dollars. This gap would mark one of the largest discrepancies ever observed between the price of BTC and macroeconomic fundamentals.

Bitwise puts this situation into perspective with a series of cyclical signals which, according to the report, strengthen the thesis of a largely undervalued BTC. Here are the key elements :

66 % undervaluation of BTC relative to global money supply growth, according to their model ;
Estimated fair value : $270,000, against a current market price well below $100,000 ;
Expanding global liquidity : more than 320 rate cuts worldwide in two years ;
The end of the U.S. Federal Reserve’s quantitative tightening (QT) program on December 1st ;
A $110 billion stimulus in Japan, a resumption of quantitative easing in Canada, and a $1.4 trillion budget plan in China.

According to Bitwise, the absence of a Bitcoin market reaction to these factors reflects a rarely seen asymmetric opportunity in the recent history of the asset. The current gap between its price and its theoretical liquidity anchor would represent an upside potential of +194 %, if bitcoin realigns with the implicit levels derived from money supply.

“BTC is historically the most sensitive barometer to monetary dilution due to its absolute scarcity,” the report reminds.

When gold captures flows
From a complementary perspective, some analysts note that gold has absorbed most of the flows related to fears of monetary dilution this year, to the detriment of bitcoin.

According to Jurrien Timmer, Global Macro Director at Fidelity, “the current Bitcoin trend configuration is lagging behind gold, both in terms of momentum and Sharpe ratio, placing the two assets at opposite extremes.”

This last indicator, which measures risk-adjusted return, clearly shows gold’s outperformance over bitcoin in this monetary cycle phase. Timmer does not talk about an imminent reversal, but about a possible mean reversion configuration, implying this divergence could reverse.

Despite this relative underperformance, Timmer remains cautious about the long-term outlook. He says bitcoin “remains broadly aligned with its long-term adoption curve based on a power law,” while noting that its returns become less explosive as the asset matures.

He even compares it to “an early younger brother of gold, in a maturity phase.” This metaphor illustrates the current perception : an asset that retains its fundamentals but whose market cycles are more complex, less impulsive, and perhaps more institutionalized.

Grayscale predicts peaks for bitcoin as early as 2026. It remains to be seen whether the market will confirm this scenario or extend this wait-and-see cycle. Between perceived undervaluation and persistent uncertainty, BTC remains at a crossroads.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.