Market Signal Briefing

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."

Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.

A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.

Voestalpine AG (VLPNY - Free Report) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:

A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 20.2%, the stock of this company is certainly well-positioned in this regard.

While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. VLPNY meets this criterion too, as the stock gained 27.9% over the past 12 weeks.

Moreover, the momentum for VLPNY is fast paced, as the stock currently has a beta of 1.39. This indicates that the stock moves 39% higher than the market in either direction.

Given this price performance, it is no surprise that VLPNY has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.

In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped VLPNY earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Most importantly, despite possessing fast-paced momentum features, VLPNY is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. VLPNY is currently trading at 0.41 times its sales. In other words, investors need to pay only 41 cents for each dollar of sales.

So, VLPNY appears to have plenty of room to run, and that too at a fast pace.

In addition to VLPNY, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.

This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.

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Bitmine's 3.63M ETH accumulation can force a dramatic sentiment shift!

In a groundbreaking move, Texas has allocated $10 million to create a strategic Bitcoin reserve, marking one of the most significant commitments by a U.S. state to the cryptocurrency market. This bold decision was announced in November 2025, making headlines as Texas positions itself at the forefront of the digital currency revolution. The initial investment of $5 million was used to acquire Bitcoin at a discounted rate, a strategic move aimed at leveraging the current market conditions to maximize the state’s financial gains.

The state’s decision to invest in Bitcoin reflects a broader trend of institutional adoption of cryptocurrencies, which have increasingly become part of financial portfolios worldwide. Bitcoin, the first and most prominent cryptocurrency, has seen a meteoric rise in popularity since its inception in 2009. Known for its volatility, Bitcoin’s price has experienced significant fluctuations, yet it has steadily gained acceptance among both retail and institutional investors.

The establishment of a Bitcoin reserve is seen as a strategic step by Texas to hedge against economic uncertainties and inflation. With inflation rates soaring globally and concerns about the stability of traditional financial systems, cryptocurrencies like Bitcoin offer an alternative store of value that is independent of central banks and government policies. By creating a Bitcoin reserve, Texas aims to diversify its financial assets and secure a portion of its wealth in a digital form that is potentially less susceptible to inflationary pressures.

Historically, Texas has been a hub for innovation and technological advancements. The state’s economy, one of the largest in the United States, is diverse, encompassing industries such as energy, technology, and agriculture. By investing in Bitcoin, Texas not only reinforces its image as a forward-thinking state but also sets a precedent for other states to consider cryptocurrencies as a legitimate component of their financial strategies.

The decision to establish a Bitcoin reserve is not without its critics. Skeptics point out the inherent risks associated with cryptocurrency investments, particularly due to Bitcoin’s notorious volatility. Critics argue that the value of Bitcoin can be unpredictable, and a significant drop in its price could lead to substantial financial losses. Moreover, the regulatory landscape for cryptocurrencies remains uncertain, with governments around the world grappling with how to effectively regulate and tax digital assets.

Despite these concerns, the potential benefits of holding Bitcoin appear to outweigh the risks for Texas. The state has been proactive in fostering a favorable environment for blockchain technology and cryptocurrency businesses, offering incentives and support to attract companies in the sector. This pro-crypto stance is likely to encourage further investments in digital currencies and blockchain initiatives, bolstering Texas’s economy and technological capabilities.

As part of its strategy, Texas plans to closely monitor the Bitcoin market and adjust its holdings as necessary. By actively managing its Bitcoin reserve, the state aims to optimize returns and mitigate risks. This approach underscores the importance of having a well-thought-out plan for investing in cryptocurrencies, which involves not only buying and holding but also understanding market dynamics and making informed decisions based on real-time data and analysis.

In the broader context of the United States, Texas’s initiative could spark interest among other states to explore cryptocurrency investments. As digital assets gain legitimacy, more states might consider adopting similar strategies to diversify their financial portfolios and tap into the potential of this burgeoning market. The success of Texas’s Bitcoin reserve could serve as a model for other states contemplating entry into the cryptocurrency space.

However, the path to widespread adoption of state-held Bitcoin reserves is likely to face challenges. Regulatory hurdles, technological barriers, and public perception are all factors that could influence the pace at which other states follow Texas’s lead. The ongoing debate about the environmental impact of Bitcoin mining, which requires significant energy consumption, is another issue that might affect future investments in the sector.

In recent years, the cryptocurrency market has grown exponentially, with a market capitalization surpassing $2 trillion at its peak. Major corporations, financial institutions, and even countries have begun to invest in Bitcoin, recognizing its potential as a hedge against inflation and a store of value. In 2021, El Salvador made history by becoming the first country to adopt Bitcoin as legal tender, a move that has been watched closely by governments worldwide.

Texas’s foray into Bitcoin is a testament to the state’s willingness to embrace new technologies and adapt to changing economic landscapes. This initiative highlights the growing importance of digital currencies in the global financial system and the potential for states to leverage these assets to enhance their economic resilience.

The decision to invest in Bitcoin also reflects a broader societal shift toward digitalization. As the world becomes increasingly interconnected, the demand for digital financial solutions is expected to rise, driving further innovation and adoption of cryptocurrencies. By establishing a Bitcoin reserve, Texas is not only preparing for future economic challenges but also paving the way for a new era of financial management that incorporates digital assets.

In conclusion, Texas’s $10 million investment in a strategic Bitcoin reserve is a bold move that underscores the state’s commitment to innovation and economic diversification. While the decision carries certain risks, the potential rewards of embracing digital currencies could be substantial. As Texas leads the way, other states may soon consider similar investments, ushering in a new chapter in the evolution of state finance and cryptocurrency integration.

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Key NotesReliance Global cited ZEC’s long-term potential, privacy architecture, and regulatory-aligned dual transaction model.The move follows a broader trend of institutional interest, with Cypherpunk Technologies also acquiring 200,000 ZEC this month. ZEC remains up 40% over the past month, with analysts noting that price action is still bullish.
Reliance Global, a Nasdaq-listed insurance technology firm, has announced plans to move its entire crypto treasury to popular privacy coin ZCash

ZEC
$495.1

24h volatility:
2.5%

Market cap:
$8.14 B

Vol. 24h:
$1.04 B

.

The decision comes following a strong ZEC rally over the past month despite the broader crypto market drawdown.

Reliance Global Moves Entire Crypto Treasury to ZCash
In a major overhaul, Nasdaq-listed Relian Global has completely moved its entire crypto treasury in privacy coin ZCash (ZEC).

The move follows the company’s board-approved expansion into digital assets in September. Winklevoss-backed Cypherpunk Technologies has also made a big bet by acquiring 200,000 ZEC this month.

Initially, the company built a diversified crypto portfolio consisting of Bitcoin

BTC
$86 588

24h volatility:
1.0%

Market cap:
$1.73 T

Vol. 24h:
$61.92 B

and other top performing altcoins like Ethereum

ETH
$2 903

24h volatility:
0.7%

Market cap:
$350.51 B

Vol. 24h:
$21.17 B

, Cardano

ADA
$0.41

24h volatility:
0.4%

Market cap:
$15.16 B

Vol. 24h:
$572.61 M

, XRP

XRP
$2.15

24h volatility:
3.0%

Market cap:
$129.55 B

Vol. 24h:
$4.00 B

, and Solana

SOL
$135.8

24h volatility:
0.1%

Market cap:
$75.93 B

Vol. 24h:
$4.81 B

.

Its most recent allocation under that strategy was a significant Solana purchase last month.

However, in a “comprehensive strategic review” led by Blake Janover, Chairman of the Crypto Advisory Board, Reliance Global, the firm came to the conclusion that ZCash offers the strongest long-term opportunity for its digital asset treasury (DAT) strategy.

The company said the pivot aligns with its updated outlook on the role of privacy assets in future financial systems.

Speaking on the development, Moshe Fishman, a member of the Reliance Global Group Crypto Advisory Board, said:

“Our decision to consolidate our DAT into Zcash reflects a high-conviction belief in ZEC’s long-term potential and its unique position at the convergence of cryptography, compliance, and financial privacy.”

The company said Zcash’s privacy-focused architecture, built on Bitcoin’s underlying framework, introduces advanced confidentiality tools. It enables optional privacy while maintaining regulatory compatibility.

ZCash’s dual transaction system, supporting both transparent and shielded transfers, separates the privacy platform from other networks.

Will the ZEC Rally Continue?
ZCash’s native cryptocurrency ZEC posed a stellar rally over the past month, hitting the highs of $730, before retracing back to $500 as of press time. The altcoin is still trading up by 40% on the monthly chart.

Crypto analyst CryptoPulse reported that Zcash has pulled back to a key resistance-turned-support trendline that buyers have defended in recent weeks.

Analysts noted that the market structure remains bullish as long as the token holds above this level.

💎 $ZEC — Time to Buy the Dip?$ZEC is now sitting right on its resistance-turned-support trendline — a key spot buyers have defended for weeks. As long as price holds above this trendline, the structure remains bullish. 📈

If momentum continues, a move back toward the $730+… pic.twitter.com/TpJhFSpb8U

— CryptoPulse (@CryptoPulse_CRU) November 26, 2025

If momentum continues, ZEC could attempt a move back toward the $730 range. However, a breakdown below the trendline would invalidate the current bullish setup.

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.

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

Key NotesCosmos maintains a $1 billion valuation despite a steep weekly correction.The community has begun a structured research process to redesign ATOM’s economy.Early charts show ATOM holding a critical support band near $2.40.
Cosmos

ATOM
$2.45

24h volatility:
1.0%

Market cap:
$1.18 B

Vol. 24h:
$48.43 M

continues to hold a market capitalization above the $1 billion mark, even after prices dropped by roughly ten percent over the past week.

Meanwhile, the project is preparing for one of the most important structural changes in its history.

The team confirmed that Cosmos, popularly known as the “Internet of Blockchains,” will launch a formal research initiative aiming to build a revenue‑centric token economy. The move will redefine how ATOM supports the Hub in the years ahead.

1/ ATOM Tokenomics are changing 🔥

One of crypto's few truly decentralized networks is about to undergo its biggest transformation yet!

The community gets full control over what happens next for $ATOM.

A thread 🧵 👇 pic.twitter.com/UOJQYsS91e

— tøny (@tonyler_) November 25, 2025

A New Framework for ATOM Utility
Cosmos is shifting away from circular token dynamics in favor of a model based on real fees. As per the forum page, the research initiative will examine ATOM’s current supply and demand profile, test alternative economic structures, and prepare a risk‑controlled transition toward a framework that remains sustainable in the future.

A number of research institutions will participate in the initiative, each contributing independent analysis before the community votes on the final economic design.

The process spans five stages: proposal submission, research‑team selection, information gathering, results analysis, and governance approval.

Community members, validators, and ecosystem partners will take part throughout the process, from initial discussions to final evaluations.

The goal is to make ATOM the revenue token for the enterprise era of the Cosmos Stack, supported by usage fees and ecosystem activity.

ATOM Price Analysis: Breakout Next?
On the 4H chart, ATOM is sitting inside a clear descending channel and has held above a long‑term support region near $2.40-$2.45.

Price action remains tight, with lower highs converging into a narrowing structure along the channel’s lower boundary.

Bollinger Bands show reduced volatility, while the RSI hovers near the 42 level, not very appealing for bulls.

MACD lines move close to the zero axis, offering no firm directional push, while BoP remains slightly negative.

ATOM 4H chart with descending channel. | Source: TradingView

If buyers defend the green support zone, ATOM may attempt a rebound toward the upper boundary of the descending channel.

A break above $2.60 would open the path to the $2.90-$3 range, making it the next crypto to explode in 2025.

However, it is important to note that if ATOM falls under $2.4, it could retest earlier cycle lows near $2.20.

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.

Cryptocurrency News, News

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

Parth Dubey on LinkedIn

Texas has become the first US state to purchase Bitcoin (BTC), scooping up $5 million worth via BlackRock’s IBIT ETF. The first-of-its-kind purchase comes amid dwindling prices for the largest cryptocurrency, with plans underway for Texas to self-custody BTC.

Texas Buys The Dip In Historic Purchase
Months after passing a Strategic Bitcoin Reserve bill, Texas has earned its stripes as the first US state to have exposure to the largest cryptocurrency. According to an announcement by Lee Bratcher, President of the Texas Blockchain Council, the state purchased $5 million worth of Bitcoin on November 20.

Per Bratcher, the historic purchase was completed at around $87,000 per coin, representing a significant haul for the Lone Star State. However, Bratcher noted that the state’s BTC exposure is indirect, with the $5 million investment in the cryptocurrency made through BlackRock’s IBIT ETF.

Despite the initial investment in the form of ETFs, Texas plans to gain direct exposure to Bitcoin. Bratcher disclosed that the Lone Star State will eventually self-custody Bitcoin after completing key processes in compliance with extant regulations.

“Texas will eventually self-custody bitcoin, but while that RFP process takes place, this initial allocation was made with BlackRock’s IBIT ETF,” said Bratcher.

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From a budget perspective, Texas allocated $10 million to accumulate BTC, with half of that amount deployed to the IBIT ETF investment. Although not expressly stated, the second tranche may be used to buy and hold BTC after approved custodians are selected.

Back in May, state senators passed a strategic Bitcoin reserve bill with Texas Governor Gregg Abbot signing it into law in June. The law authorizes the state, through the Texas Comptroller of Public Accounts, to hold Bitcoin and other large-cap cryptocurrencies as a state-managed asset. Meanwhile, Texas has emerged as a leading Bitcoin mining hub in the US, given its early embrace of the technology and cheap electricity.

Bitcoin Continues Its Descent
The purchase by Texas did little to slow Bitcoin’s decline, as the asset fell by over 2% in the last day. Bitcoin reached an intraday high of $88,457 before dropping all the way to $86,131 as macroeconomic headwinds pummelled the asset.

The largest cryptocurrency has wiped out all its yearly gains, putting the stocks of several Bitcoin treasury companies in the red. Apart from falling stock prices, Bitcoin ETFs are recording their fair share of outflows as investors take up defensive positions amid fears of an extended bear market.

In the last month, BTC has shed 23% of its market capitalization, underscored by multiple reports of heavy selling. However, reports of an incoming US Fed rate cut in December are stoking the enthusiasm of investors for an imminent reversal.

Michael Saylor’s Strategy is attempting to calm investor concerns about its balance sheet after the recent Bitcoin market downturn and a sharp pullback in digital asset treasury (DAT) stocks.

Strategy, the world’s largest corporate Bitcoin (BTC) holder, has rolled out a new credit rating dashboard based on the company’s preferred stock notional value, and claims to have another 70 years’ worth of dividend payment runway to service its debt, even if Bitcoin’s price remains flat.

“If $BTC drops to our $74K average cost basis, we still have 5.9x assets to convertible debt, which we refer to as the BTC Rating of our debt. At $25K BTC, it would be 2.0x,” said Strategy in a Tuesday X post.

The move comes as investors grow increasingly worried that falling crypto prices could force large DAT companies into liquidation, adding more selling pressure to an already weakened market.

Strategy’s BTC Credit dashboard. Source: Strategy.comStrategy’s dividend runway and “robust” enterprise software cash flow are significantly reducing the liquidation risks for the company, according to Lacie Zhang, research analyst at Bitget Wallet.

“We view MicroStrategy’s 71-year dividend runway claim as realistic under a flat Bitcoin price scenario,” however, long-term projections are dependent on several uncertainties, including “market volatility or regulatory shifts,” Zhang told Cointelegraph.

“I’m not particularly concerned about near-term liquidations for the largest corporate BTC holder, as their diversified funding and hodl strategy positions them well for sustained growth.”Strategy’s ongoing accumulation, she added, has contributed to broader “industry stability” and supported deeper institutional adoption.

Strategy’s hodl stance may prevent deeper Bitcoin declines, analyst saysStrategy’s ability to avoid forced selling could also help Bitcoin avoid falling below key psychological levels in future downturns, according to Ki Young Ju, founder and CEO of CryptoQuant.

Strategy’s strong financials are a positive signal for the next Bitcoin bear market, as the world’s largest corporate holder is “unlikely to sell,” he said.

This may save BTC from revisiting its realized price of around $56,000 during the next crypto bear market “because players like MSTR are unlikely to sell and those coins are effectively off the market,” wrote the analyst in a Friday X post.

Still, some of the leading DATs suffered significant stock crashes and declines in their market net asset value (mNAV), including Strategy, Bitmine, Metaplanet, Sharplink Gaming, Upexi and DeFi Development Corp.

The mNAV ratio compares a company’s enterprise value to the value of its crypto holdings. An mNAV below 1 makes it more challenging for companies to raise funds by issuing new shares, which may limit their cryptocurrency purchases.

Strategy key metrics, including mNAV. Source: Strategy.comStrategy’s mNAV stood at 1.16 at the time of writing, meaning the company could still theoretically issue new shares to raise additional capital, according to Strategy’s dashboard.

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Starknet’s v0.14.1 upgrade brings faster blocks, BLAKE hash, and JSON-RPC improvements; STRK token still trades near multi-week lows after major changes.

Summary

Starknet’s v0.14.1 upgrade transitions the network to the BLAKE hash family, following SNIP-34 for better proof efficiency and developer cost reductions.
The upgrade introduces logic for faster block closure during low activity and enhances JSON-RPC formatting for improved tooling and indexers.
Despite infrastructure advances, STRK token price remains depressed, underperforming the broader crypto market per CoinGecko and DeFiLlama data.

Starknet deployed its v0.14.1 mainnet upgrade on November 25, according to an announcement from StarkWare, the development company behind the Ethereum Layer 2 network.

The update, developed by StarkWare and the Starknet core team, introduces faster block production during periods of low network activity, a new hash function standard, and an enhanced JSON-RPC stack, according to the company’s post on X.

The upgrade implements a complete transition from Poseidon to the BLAKE hash family for compiled_class_hash. The change follows the SNIP-34 standard and aligns the network with the Stwo prover architecture, according to StarkWare. The company stated the modification is designed to reduce proof costs for developers.

Starknet update brings new standards
The update includes logic to close blocks more rapidly when network activity is low, aiming to reduce user wait times during quiet periods. Nodes are now adopting JSON-RPC v0.10.0, which updates the delivery of state diffs, events, and subscriptions, providing a standardized format for indexers and tooling teams.

StarkNet‘s public calendars indicate the upgrade is operational, representing another step in the network’s 2025 roadmap.

The deployment follows two significant changes to Starknet’s infrastructure. On November 5, the team deployed its Stwo prover to mainnet, replacing the previous proof system.

As of November 26, the native STRK (STRK) token was trading near multi-week lows, with 24-hour trading volume reaching hundreds of millions of dollars across major exchanges, according to market data. CoinGecko data shows a notable decline over the seven-day period, with the token underperforming compared to the broader cryptocurrency market and other smart-contract tokens during the same timeframe.

The token remains significantly below its 2024 peak, according to historical price data.

DeFiLlama data tracks Starknet’s decentralized finance total value locked in the tens or hundreds of millions of dollars. Stablecoin balances on the network have increased modestly over the past month, according to the platform.

Over the past 24 hours, decentralized exchange trading volumes on the network were modest compared to perpetual futures volume, indicating substantial derivatives activity within the ecosystem, according to trading data.

Wed, 26/11/2025 - 13:38

Strategy is now tied to a brutal datapoint, as 51% of the Bitcoin it bought sits above today's price, while MSTR stock plunges to zones where selling usually accelerates.

Cover image via U.Today

Strategy, the company that built its whole identity around buying Bitcoin nonstop, just ran into a number it really did not want to see. According to a CryptoQuant analyst, more than 51% of the company's whole Bitcoin stash was bought at prices higher than today's, and that kind of stat can totally change how the market sees the firm's position.

As of now, Strategy holds 649,870 BTC, making it the biggest corporate pile in the world with the average cost is $74,430, so the firm is still in the green, with Bitcoin trading near $86,900. But the average is not the whole story here.

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The issue is where the purchases were made. A lot of Strategy's coins came from the expensive phases of 2021, 2024 and early 2025. Those were the times when BTC was much higher than it is now. Because of 2025 in particular, over half of the stash is currently sitting below its entry price. 

Source: CryptoQuantAll this came to light after Bitcoin fell from above $120,000 down into the high-$80,000s in a short period of time. That drop dragged BTC right back into the zones where Strategy made a lot of its biggest buys. 

The older coins, bought at deep-cycle levels under $20,000, are still holding their gains. The later rounds, the expensive ones, are not.

Stock angle adds more pressureMSTR is trading near the lower edge of its valuation bands based on Bitcoin. Strategy's market cap is about $49 billion, but the Bitcoin it owns is worth around $56.4 billion. That means the stock trades below the value of the company's own BTC.

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The 51% figure does not put Strategy in danger, but it shows how much the company overpaid. It is clear that Bitcoin's success is now tied to it, reaching those levels where it did some of its biggest shopping.

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TL;DR

Chainlink’s co-founder states DeFi is 30% adopted, targeting full adoption by 2030.
Regulatory clarity and institutional activity are key drivers for global DeFi adoption.
DeFi lending TVL surged 72% in 2025, led by Aave with tokenized real-world assets.

Sergey Nazarov, co-founder of Chainlink, reported on November 25 that decentralized finance reaches 30% of its path toward global acceptance and could complete adoption by 2030 under adequate regulatory clarity. He explained that transparent laws, institutional activity, and U.S. policy leadership guide the current expansion of blockchain-based financial services.

Nazarov confirmed that institutional activity in Web3 increases steadily. Major financial firms use blockchain networks due to a more mature sector, and adoption accelerates during each market cycle. He argued that on-chain markets and on-chain applications present practical features for users who want reliable financial services without intermediaries.

• Institutional adoption accelerating with greater regulatory clarity
• Why highly reliable infra matters more than ever
• CRE unlocking the next phase of tokenization@SergeyNazarov discusses these trends and much more on @CryptoMichNL’s New Era Finance Podcast ↓ https://t.co/QuCeklyV4O

— Chainlink (@chainlink) November 25, 2025

Michael Egorov, creator of Curve Finance, offered a comparable view. He pointed to legal uncertainty, along with KYC and AML duties, as primary obstacles slowing wider DeFi usage.

Institutional Influence in Web3
Nazarov explained during an interview that a large portion of SmartCon sessions now concentrate on institutional goals. He observed that major firms allocate resources toward tokenized assets, stablecoins, and on-chain liquidity pools. He also indicated that broad acceptance reaches around 70% once institutional clients gain an efficient path to deploy capital in DeFi markets. Broader acceptance depends on a capital base capable of matching volumes handled by large banking entities.

Nazarov added that regulatory clarity tends to flow from U.S. agencies to other regions. Many governments align with U.S. standards to remain compatible with dollar-based finance.

Growth of DeFi Lending
A report from Binance recorded a 72% expansion in DeFi lending procedures from $53 billion at the start of 2025 to more than $127 billion in cumulative TVL. DeFi lending protocols operate as automated systems that allow borrowing and lending through smart contracts, removing financial brokers and direct intermediaries.

Aave Labs’ Horizon leads the sector with around 54% of the TVL, or nearly $68 billion. Horizon enables clients to post tokenized real-world assets as collateral to access stablecoins. The report also included data from RWA.xyz, which shows $18.7 billion in tokenized private credit and $9.1 billion in tokenized U.S. Treasurys circulating on-chain.

Platforms such as Maple and Euler recorded rapid expansion and now approach $3 billion in aggregate value. Larger adoption of tokenized assets and stablecoins positions lending protocols to capture ongoing institutional activity.

Token Buybacks Signal Revenue Growth
In August, DeFi platforms executed token buybacks worth $166 million. Hyperliquid and Pump.fun led the movement due to record income. Pump.fun spent over $58 million to repurchase its token, shrinking its circulating supply by more than 4%.

Solana inflows surge past $621M while price tests major resistance, with analysts eyeing a breakout that could trigger a 25% upside move.

Izabela Anna2 min read

26 November 2025, 01:55 PM

Edited 26 November 2025, 01:55 PM

Solana continued to attract institutional demand this week, extending its streak to twenty-one consecutive trading days of inflows into spot ETFs. The persistent accumulation comes as the asset’s price trades near a decisive technical level, where analysts say a breakout could trigger a sharp recovery. Institutions added another $53.1 million on Nov. 25, lifting total inflows to $621 million since launch. 

This steady demand arrives even as SOL trades lower this week, creating a scenario where strong capital inflows collide with short-term price weakness. Consequently, traders are now watching whether inflows can overpower current resistance and ignite a trend reversal.

Institutional Purchases Strengthen Despite Price PullbackInstitutional accumulation continued through Monday, with Bitwise contributing $31 million. Fidelity followed with $4.8 million, while VanEck added $1.3 million. Grayscale closed the day with $16 million in new inflows. 

Moreover, the running total has reached $621 million, underscoring rising demand from large investors. This trend is notable because SOL declined 0.28% in the last 24 hours and 2.66% over the week, trading at $136.05 as of press time. Hence, inflows appear disconnected from short-term market weakness, which often signals deeper confidence in long-term performance.

SOL Structure Points Toward a 25% RallyAnalyst Captain Faibik noted that Solana is pushing against a major multi-week descending trendline. Price now trades near $138 to $140, which forms a crucial breakout zone. He added that a move above this level could open a path toward $170 to $175. 

Additionally, higher lows continue forming under resistance, suggesting bullish momentum is building. Support sits at $132, with a stronger cushion near $125 if the breakout attempt fails. 

Market participants are watching this compression structure because it often resolves with a decisive upside move when higher lows persist. Hence, a breakout could validate the projected 25% recovery target.

Bears Face a Critical Line at $142Another analyst, Gordon, pointed to the $142 to $144 area as the key level to flip. Price has failed to clear this zone several times this month. Moreover, the structure mirrors Faibik’s view, with higher lows squeezing price toward the trendline. He stated that clearing this region would shift momentum toward $150 to $152. 

Source: X

Besides, the supports at $136 and $132 remain important during consolidation. According to his view, the setup favors bulls because compression near resistance often precedes strong breakouts. Consequently, a move above $142 could accelerate momentum and pressure short sellers.

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Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

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HOBOKEN, N.J.--(BUSINESS WIRE)--Wiley (NYSE: WLY and WLYB), a global leader in authoritative content and research intelligence for the advancement of scientific discovery, innovation, and learning, will release its second quarter 2026 results prior to market open on Thursday, December 4, 2025. The Company has scheduled a conference call beginning at 10am ET that day to discuss the results. Access webcast at Investor Relations at investors.wiley.com, or directly at https://events.q4inc.com/atten.

Shares of Realty Income (NYSE:O) lost 6.09% over the past month after gaining 0.43% the month prior.

Another Musk tweet, this time about robo-taxis, appears to be helping Tesla stock early on Wednesday.

November 26, 2025 07:54 ET

 | Source:

Brookfield Corporation

Not for distribution to U.S. news wire services or dissemination in the United States.

BROOKFIELD, NEWS, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today announced the completion of its previously announced Class A Preference Shares, Series 54 (“Preferred Shares, Series 54”) issue in the amount of C$250,000,000 (the “Offering”). The Offering was underwritten on a bought deal basis by a syndicate of underwriters (the “Underwriters”) led by Scotiabank, BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc., RBC Capital Markets and TD Securities Inc.

A total of 10,000,000 Preferred Shares, Series 54 were issued at a price of C$25.00 per share, for gross proceeds of C$250,000,000. The issuance included 2,000,000 Preferred Shares, Series 54 issued pursuant to the exercise, in full, of the Underwriters’ option granted by Brookfield to the Underwriters in the Offering. Holders of the Preferred Shares, Series 54 will be entitled to receive a cumulative quarterly fixed dividend yielding 5.65% annually for the initial period ending December 31, 2030. Thereafter, the dividend rate will be reset every five years at a rate equal to the greater of: (i) the 5-year Government of Canada bond yield plus 2.80%, and (ii) 5.65%. The Preferred Shares, Series 54 will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BN.PF.M. The Preferred Shares, Series 54 may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act.

Brookfield intends to use the net proceeds from the Offering to redeem all of its outstanding Cumulative Class A Preference Shares, Series 44 ("Preferred Shares, Series 44") (TSX: BN.PF.H) for cash on December 31, 2025. The redemption price for each share will be C$25.00. Holders of Preferred Shares, Series 44 of record as of December 15, 2025 will receive the previously declared quarterly dividend of C$0.3125 per share, payable on December 31, 2025.

About Brookfield Corporation

Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

For more information, please contact:     Media:                    
Kerrie McHugh                
Tel: (212) 618-3469            
Email: [email protected] Investor Relations:
Katie Battaglia
Tel: (416) 359-8544
Email: [email protected]      

Tiger Brands Limited (OTCPK:TBLMF) Q4 2025 Earnings Call November 26, 2025 3:00 AM EST

Company Participants

Barati Mahloele
Tjaart Kruger - Group Executive For Grains Businesses, CEO & Executive Director
Thushen Govender - CFO & Executive Director

Conference Call Participants

Shaun Chauke - JPMorgan Chase & Co, Research Division

Presentation

Barati Mahloele

Good morning, ladies and gentlemen, those of you here with us at the JSE in person as well as those joining us online. My name is Barati Mahloele, Investor Relations at Tiger Brands, and I have the pleasure of welcoming you to the Tiger Brands FY '25 Results Presentation. I'd like to acknowledge the presence of the Chairman of our Board, Mrs. Geraldine Fraser-Moleketi, members of our Board as well as our Executive Committee members who are with us today.

Later on, joining me on stage will be the CEO of Tiger Brands, Mr. Tjaart Kruger; as well as the CFO, Mr. Thushen Govender, and they will be taking us through the presentation this morning. Before I hand over to Tjaart, I'd like to bring your attention to our forward-looking statement.

And with that, I hand over to the CEO of Tiger Brands, Mr. Tjaart Kruger.

Tjaart Kruger
Group Executive For Grains Businesses, CEO & Executive Director

Good morning, everyone. And Barati, that was very formal. Anyway, I'll leave the chirping on the new dress code to Thushen. He'll talk about it later. We really believe in Tiger that we've turned the corner and we -- on a new planet almost. We really do think we've reset the organization, and we believe that our visuals, our logos and stuff must present that. And therefore, you've probably seen in the press announcement this morning, there is a few changes, but we officially want to do it now to expose you to the new Tiger.

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Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - November 26, 2025) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) ("Sharp" or the "Company"), announces the release of its condensed interim consolidated financial statements for the three and nine months ended September 30, 2025, and related management discussion and analysis. All dollar figures are in United States dollars, unless otherwise stated.

NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) (“DocGo”), a leading provider of technology-enabled mobile health and medical transportation services, announced today that management will be participating in the following investor conferences in December: Noble Capital Markets Emerging Growth Conference (December 3rd) Lee Bienstock, Chief Executive Officer will participate in 1x1 meetings and deliver a presentation on Wednesday, December 3rd at 1:00 PM ET. A webcast of the event will be av.

TEL AVIV, Israel, Nov. 26, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a company engaged in clinical-stage pharmaceutical developments through its majority-owned subsidiary NeuroThera Labs Inc., today announced the signing of a binding term sheet to acquire a treasury of patents, trademarks and intellectual property rights for innovative endoscopic systems and medical cameras, including the MUSE™ system, from Xylo Technologies Ltd. ("Xylo”).

The MUSE™ system is a single-use, innovative endoscopic device designed for transoral fundoplication, a minimally invasive procedure to treat gastroesophageal reflux disease (“GERD”).

Building on Xylo 's successful commercialization  in Greater China through licensing and distribution agreement with a Shanghai-based medical instruments company in 2019, of which Xylo received $3 million up front, SciSparc seeks to replicate this proven model across high-growth territories, such as North America, Europe and Latin America, by pursuing similar exclusive partnerships with leading regional distributors to accelerate global commercialization and unlock substantial revenue streams.

Under the terms of the binding term sheet, SciSparc will acquire the complete portfolio of patents, trademarks, know-how, and related intellectual property rights, mainly associated with the MUSE™ system, from Xylo. Subject to negotiating and signing definitive agreements for the acquisition, in consideration for these acquired assets, SciSparc shall issue to Xylo, upon the closing of definitive agreements (the “Closing”), an amount of ordinary shares of the Company, which shall represent as of the Closing date, 19.99% of the issued and outstanding share capital of SciSparc (the “Issued Shares”). SciSparc may elect at its sole discretion to issue, in lieu (in whole or in part) of the Issued Shares, pre-funded warrants to purchase ordinary shares.

According to a May 2025 market research report by MarkNtel Advisors, the global GERD device market was valued at approximately $2.5 billion in 2024 and is projected to reach $3.03 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.24% from 2025 to 2030.

This press release does not constitute an offer of securities for sale in the United States. The securities referred to herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act.

About SciSparc Ltd. (Nasdaq: SPRC):

The Company, through its majority-owned subsidiary NeuroThera Labs Inc., engages in clinical-stage pharmaceutical developments. SciSparc’s focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company, together with its majority-owned subsidiary NeuroThera Labs Inc., are currently engaged in the following drug development programs based on THC and/or non-psychoactive CBD: SCI-110 for the treatment of Tourette syndrome, for the treatment of Alzheimer's disease and agitation; and SCI- 210 for the treatment of ASD and status epilepticus. The Company, through NeuroThera Labs Inc., also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seed oil-based products on the Amazon.com Marketplace.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, SciSparc uses forward-looking statements when it discusses: the expected acquisition of a portfolio of patents, trademarks and intellectual property rights for innovative endoscopic systems and medical cameras, including the MUSE TM system from Xylo; the consideration for the acquired assets to be paid to Xylo at Closing; the Company’s plans to replicate Xylo’s licensing and distribution model from Greater China to other territories, such as North America, Europe and Latin America; the Company’s plans to pursue exclusive partnerships with leading regional distributors to accelerate commercialization and unlock substantial revenue streams; and the expected value and growth of the global GERD device market. The acquisition of the intellectual property assets described in this press release is subject to the Company and Xylo negotiating and agreeing definitive agreements. Because such statements deal with future events and are based on SciSparc's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in SciSparc's Annual Report on Form 20-F, as amended, filed with the SEC on April 24, 2025, and in subsequent filings with the U.S. Securities and Exchange Commission. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

Investor Contact:
[email protected]
Tel: +972-3-6167055

Needless to say, over the last three years, the Artificial Intelligence explosion has been at the top of almost every investor's mind.

TORONTO, Nov. 26, 2025 (GLOBE NEWSWIRE) -- DPM Metals Inc. (TSX: DPM, ASX: DPM) (ARBN: 689370894) (“DPM” or “the Company”) is pleased to announce the results of a feasibility study (“FS”) for the Čoka Rakita project in Serbia. The FS confirms robust economics for a high-margin underground mining operation with first quartile costs and high rate of return using a $1,900 per ounce gold price assumption.

FS Highlights:
(All dollar amounts in this news release are expressed in U.S. dollars, unless otherwise noted.)

Improvements for the project outlined in the FS compared to the pre-feasibility study (“PFS”) include an additional year of mine life, increased ounces in the initial years, with improved net present value (“NPV”).

Project highlights include:

Mineral Reserves tonnage increased by 10% and contained gold increased by 11%.Higher gold production in the first five years, averaging 189,000 ounces of gold per year.First quartile all-in sustaining cost1 of $644 per ounce of gold (life of mine average).Attractive initial capital of $448 million, well-within DPM’s funding capacity.Robust NPV5% of $782 million (after-tax) and an IRR of 36% at a $1,900 per ounce gold price assumption.2 Using a $3,500 gold price assumption, NPV5% is $2.2 billion (after-tax) and IRR is 68%.2Strategic position of project infrastructure, considering discovery of Dumitru Potok target.Permitting milestone achieved prompting initiation of the Special Purpose Spatial Plan process.Execution readiness advancing with detailed engineering and early works preparations. David Rae, President and Chief Executive Officer, commented on the results:

“The Čoka Rakita feasibility study marks a significant milestone, confirming a high-margin, low-cost operation that will generate significant returns for our shareholders. We have rapidly advanced Čoka Rakita, completing a feasibility study within less than 36 months of announcing its discovery in 2023, an exceptional pace driven by the high-quality nature of this deposit and the well-established process in Serbia.

“Based on the project’s excellent economics, including a 36% IRR at a gold price of $1,900 per ounce, we are proceeding to execution readiness and continue to advance permitting to support start-up of mine construction in early 2027, with first concentrate production anticipated in the first half of 2029.

“We believe Čoka Rakita is a pivotal stepping stone that unlocks the broader potential of the Rakita camp, where our exploration activities continue to confirm the presence of a large copper-gold system. We expect to complete mineral resource estimates for Dumitru Potok, Rakita North and Frasen by year-end, all of which are within one to two kilometres of planned Čoka Rakita infrastructure, and to target additional high-potential areas within the six-kilometre trend.”

Feasibility Study Overview

Čoka Rakita is located approximately 35 kilometres by road northwest of the city of Bor in Serbia, and benefits from established infrastructure, including nearby roads and power lines. The project is a strong fit with the Company’s underground mining and processing expertise and is within proximity of DPM’s Chelopech mine with readily available access to well-established technical support functions.

The FS is based on a Mineral Reserve Estimate of 7.34 million tonnes (“Mt”) at 6.44 grams per tonne (“g/t”) for 1.52 million contained gold ounces. The FS contemplates underground mining of the Čoka Rakita deposit via long hole open stoping (LHOS) with cemented paste backfill and a relatively standard comminution, gravity and flotation flowsheet to process 850,000 tonnes of ore per annum. Saleable products include gravity and flotation gold concentrates, with a portion of the gravity concentrate to be smelted and sold as a doré for improved sales terms.

Optimizations to the project from the PFS include:

Optimization of the development layout and design;Ground support design optimized based on geotechnical drilling results;Refined stope design, resulting in additional Mineral Reserve ounces;Optimized ventilation, improving airflow efficiency for reduced power demands;Improved dewatering infrastructure and layout to handle higher estimated mine dewatering requirements; andImproved gold recoveries based on additional metallurgical testwork. The FS assumes start of construction in early 2027 with first ore on surface in 2028, and production of gold concentrate targeted for the first half of 2029. The FS excludes any pre-construction activities.

The process flowsheet and project schedule allow DPM to leverage the use of existing processing equipment and infrastructure from the Ada Tepe operation in Bulgaria, which will be decommissioned and refurbished following the mine’s closure in mid-2026. Several benefits of this approach were identified, including de-risking the project timeline in terms of long-lead items and supply chain risk, as well as the ability to leverage the Company’s processing expertise, training and maintenance practices.

The following table summarizes key inputs, operating statistics and results of the FS:

Key operating and financial assumptions and metricsMacroeconomic parametersGold price $/oz. $1,900Corporate tax rate1 % 15%Royalty % 5% NSRProduction(life of mine averages, unless otherwise noted)Mineral Reserve Mt 7.3Average gold grade mined g/t 6.44Annual throughput Ktpa 850Average gold grade processed g/t 6.44Average gold metallurgical recovery % 87.9Total gold produced Moz. 1.34Average annual gold production (life of mine) Koz. 148Average annual gold production (first five years) Koz. 189Capital estimates1Initial capital $ million $448Sustaining capital (life of mine) $ million /year avg $3.2Closure costs2 $ million $30Project economicsCash flow (after-tax)1,4 $ million $1,203NPV (after-tax, 5% discount)1,4 $ million $782IRR (after-tax)1,4 % 36%Payback period1,4 years 1.8 Current legislation in Serbia allows for tax relief for large investments for a maximum period of 10 years, subject to certain eligibility conditions being maintained through the 10-year period. The FS assumes that the Čoka Rakita project is eligible for this tax relief and the effective income tax rate applied is 0% over the project’s 10-year mine life.Initial capital and sustaining capital include import duties.Closure costs include a non-refundable VAT of $2.6 million.Economics are construction forward and assumes no initial capital is spent in advance of a construction decision Operating and all-in sustaining cost (life of mine averages) $ millions$/t of ore processed$/oz. payable goldMining$267$36$203Processing$205$28$156General & administrative$115$16$88Royalties$121$16$92Total cash costs$786$96$538Offsite cost$78 $69All-in sustaining cost per ounce  $644 Cash cost; cash cost per tonne of ore processed; cash cost per ounce of gold sold; and all-in sustaining cost per ounce of gold sold are non-GAAP measures or ratios. These measures have no standardized meaning under IFRS and may not be comparable to similar measures used by other issuers. Refer to the “Non-GAAP Financial Measures” section of this news release for more information, including a detailed description of these measures. Mining and processing

The FS mine plan assumes access from surface via two declines and a spiral ramp to truck mined material to surface. The anticipated mining method is conventional sublevel long-hole open stoping utilizing paste backfill with cemented rock fill, and unconsolidated rock fill used where the mining sequence permits. These mining practices leverage DPM’s experience and expertise from its Chelopech and Vareš underground mines.

The FS is based on a Probable Mineral Reserve of 7.34 million tonnes. The FS mine plan and design has been optimized to access the high-grade core of mineralization in the initial years. Production in the first five full years is expected to average 189,000 ounces per year from an average gold head grade of 8.1 g/t. The average life of mine gold production is expected to be approximately 148,000 ounces per year from an average gold head grade of 6.44 g/t.

The FS is based on a process flowsheet consisting of crushing and grinding to a particle size (P80) of 53 µm, followed by gravity concentration and sulphide flotation. The gravity concentrate will be marketable directly to gold refineries, and the sulphide flotation concentrate will be suitable for processing by smelters in the region. A portion of the gravity concentrate will be smelted and sold as a doré. Over the life of mine, 27% of gold reports to doré, 16% to the gravity concentrate and 45% to flotation concentrate for an overall average gold recovery of 88%.

All tailings are filtered and approximately 41% is used for paste backfill in the mine, with the remainder stored in the dry tailings storage facility (DTSF) on surface.

The production schedule as outlined in the FS is presented in the following table:

MetricUnitTotal / averagePre production2029203020312032203320342035203620372038Ore minedKt7,345243384685585585585585585583599Gold gradeg/t6.443.79.710.49.87.315.444.64.14.34.43.0Ore processedKt7,345-400829850850850850850850850166Gold gradeg/t6.44-9.510.210.37.35.54.84.14.24.43.3Recoveries             Flotation%45.3-41.540.440.345.348.649.951.251.050.552.8Doré%26.8-29.330.830.926.924.223.222.222.322.720.9Gravity%15.8-17.218.118.115.814.213.613.013.113.312.3Combined%87.9-88.189.389.388.087.186.786.486.486.686.0Payable gold productionKoz.1.3-106239247174128111959710315All-in sustaining cost1$/oz.644-7224554255427107719168307402,872 All-in sustaining cost per ounce of gold sold is a non-GAAP ratio. Refer to the “Non-GAAP Financial Measures” section of this news release for more information, including a detailed description of these measures. Capital estimates

The FS estimates initial project capital costs of approximately $448 million includes development of the underground mine, construction of an 850,000 tonne per annum processing plant utilizing existing equipment from the Ada Tepe mine and processing facility, a 4.1 Mt fully lined dry tailings storage facility, and additional infrastructure, including haul and access roads, water treatment, power supply and site services.

The increase in the initial capital estimate relative to the PFS is primarily driven by the updated mine development contracting strategy, which accelerated decline development and access to the first stoping levels, as well as the reclassification of certain early operating cost items into initial capital.

The FS reflects cost escalation impacts, including an assumed 10% labour inflation rate and a Euro to U.S. dollar exchange rate of 1.135, capturing the approximately 7% depreciation of the U.S. dollar. In addition, higher earthworks volumes and increased requirements for imported fill material contributed to the higher estimate.

The following table breaks down the initial capital estimate:

  $ millionsInitial capital estimates1Mine development $129Ore handling $19Processing plant $63Tailings and water treatment $52Infrastructure (on and off-site) $68Total direct costs $331General indirect costs $33Owner’s cost $40Total indirect costs $73Contingency $44Total initial capital expenditures $448Sustaining and closureSustaining capital expenditures (life of mine)1 $32Closure costs2 $30 Initial capital and sustaining capital estimates include import duties.Closure costs include a non-recoverable VAT of $2.6 million.Rounding of figures may result in totals not adding precisely. As at September 30, 2025, DPM’s cash balance was approximately $414 million. With no debt, a $150 million revolving credit facility and significant free cash flow generation from current operations, Čoka Rakita’s initial capital is well-with DPM’s funding capacity.

Gold Price Sensitivity Estimates

The table below shows the gold price sensitivity on project economics for Čoka Rakita, including at $3,500 per ounce gold to provide investors with a view of the project’s economics across varying gold prices.

Sensitivity of project economics to gold priceAverage gold price
($/oz.)$1,500$1,700$1,900$2,300$2,500$3,500NPV
(after-tax, 5% discount)$427$605$782$1,139$1,317$2,207IRR
(after-tax)24.3%30.3%35.6%45.2%49.5%67.8%Payback
(years)2.32.01.81.51.41.0 Permitting and Stakeholder Engagement

Consistent with its approach across all operations and projects, DPM seeks to build and maintain strong partnerships with local communities and governments. The Company has had a local presence in Serbia since 2004 and has developed strong relationships in the region and will continue to proactively engage with all stakeholders as the project advances.

Permitting to support start-up of mine construction in early 2027

In mid-November, DPM received approval to initiate the Special Purpose Spatial Plan for Čoka Rakita, a key permitting milestone. Key technical workstreams are advancing as planned, and proactive stakeholder engagement continues to support progress towards receipt of the necessary approvals. Most of the baseline studies for the environmental and social impact assessment have been completed, and DPM is maintaining close and proactive engagement for timely project development.

Basic and detailed engineering is progressing in parallel to the permitting process to feed into the Main Mine Design, the key technical input associated with the mine construction permit. Construction of the Čoka Rakita mine is expected to commence in early 2027, with preparatory and early works planned for the second half of 2026. First ore to surface is expected in the second half of 2028, with the build-up of an 80,000-tonne run of mine stockpile to help facilitate a smooth ramp-up of the processing plant. Concentrate production anticipated in the first half of 2029. DPM is monitoring permitting timelines closely and implementing mitigation measures to maintain readiness for construction, and will continue to look for opportunities to accelerate the schedule.

Environmental and Social

The Company’s intention is to develop Čoka Rakita in accordance with industry, Serbian and international best standards, with a focus on maximizing benefits for local communities and stakeholders in Serbia while delivering the best value for shareholders.

DPM intends to utilize local suppliers to the extent possible, and, as it does in all of its operations globally, maximize the proportion of local workforce employed at the operation. Čoka Rakita is expected to create over 500 jobs, and the Company is developing a robust training plan to support the hiring and training of local personnel, including planned training modules at Chelopech and Ada Tepe. DPM also plans to leverage its experience integrating and ramping-up production at the Vares operation in Bosnia into its operational readiness and execution planning for Čoka Rakita.

Mineral Resource and Mineral Reserve (“MRMR”) Estimate

In preparation for the FS, DPM has updated the Mineral Resource Estimate (“MRE”) for Čoka Rakita. The database cut-off was January 17, 2025, which is also the effective date of the MRE. Drill hole spacing is approximately 20 metres by 20 metres over the deposit footprint, with infill drilling locally reaching a spacing of between 15 metres to 15 metres within the high-grade core of the deposit. The updated MRE incorporates detailed understanding of the geologic controls and deposit architecture.

The MRE satisfies reasonable prospects of eventual economic extraction (“RPEEE”) by demonstrating the spatial continuity of the mineralization by reporting within optimized underground mining shapes that were generated at a 2g/t Au cutoff. The cut-off grade assumes a gold price of $1,900 per ounce. The MRE was classified as Indicated and Inferred Mineral Resources, informed by drill spacing supported by a drill hole spacing study, QA/QC, quality of data, confidence in geological and mineralization interpretations.

The Mineral Reserve Estimate is based only on Indicated Mineral Resources identified in the block model. Optimized stope shapes were generated with respect to the design and economic criteria established such as cut-off grade, deposit geometry criteria and stope shape parameters. The stopes were then sequenced to suit the mining method (long-hole longitudinal retreat) and scheduled to produce the production profile and life of mine plan. Mineral Reserves are based on an in-situ cut-off grade of 2.5 g/t Au which is based on a gold price of $1,600 per ounce. Additionally, a 2.0 g/t cutoff for marginal stopes and a 1.0 g/t Au incremental cutoff for development was used to generate the Mineral Reserve inventory.

The Probable Mineral Reserve for Čoka Rakita totals 7.4 Mt of diluted ore, grading 6.44 g/t of gold, containing approximately 1.52 million ounces of gold. This represents a 10% increase in tonnage and an 11% increase in contained ounces, compared to the PFS Mineral Reserve estimate. This is a result of engineering changes to stope design parameters and optimization of cut-off grade assumptions.

The Mineral Reserve Estimate for Čoka Rakita is shown in the following table and is effective as of January 17, 2025.

Čoka Rakita Mineral Reserve Estimate
(As of January 17, 2025)ClassificationTonnes(Mt)Gold Grade(g/t)Gold Content(Koz.)Proven---Probable7.346.441,520Total7.346.441,520 At the time of this Report, there are no Proven Mineral Reserves for the Čoka Rakita Project.The Mineral Reserves disclosed are classified as Probable and are based on the 2014 CIM Definition Standards and 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.The Inferred Mineral Resources are treated as waste and do not contribute to reserves estimation.Mineral Reserves has an effective date of January 17, 2025.The reference point at which the Mineral Reserves are defined is where the ore is delivered to the process plant and therefore not inclusive of milling recoveries or payable metal deductions.Long-term metal price assumed for the evaluation of the Mineral Reserves is $1,600/oz for gold.Mineral Reserves are reported using variable cut-off grades which include Stope full cost in-situ cut-off grade of 2.5 g/t, Stope marginal in-situ cut-off grade of 2.0 g/t and development cut-off grade of 1.0 g/t.Mineral Reserves account for hanging wall (HW) and footwall (FW) ELOS external dilution of 1.0 m and 0.5 m, respectively applied to the stopes at matching Au grades of the block model, Back fill dilution of 6% applied to the stopes at zero Au grade and Mining recovery of 95 % applied to the stopes and 100% applied to development tonnes.Contained Metal (CM) is calculated as follows: Au Contained Metal, (oz) = Tonnage (Mt) * Grade (g/t) / 31.1035 (g/oz).The Mineral Reserve Estimation was completed under the supervision of Mr. Khalid Mounhir, P.Eng., Principal Mining Engineer at WSP Canada Inc., who is a Qualified Person (“QP”) as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing or political factors that might affect the estimate of Mineral Reserves.Sum of individual table values may not equal due to rounding. The Mineral Resource Estimate, exclusive of Mineral Reserves, is shown below and is effective as of January 17, 2025.

Čoka Rakita Mineral Resource Estimate
(As of January 17, 2025)ClassificationTonnes(Mt)Gold Grade(g/t)Gold Content(Koz.)Measured---Indicated0.533.9467Inferred0.093.6011 The cut-off grade value of 2 g/t assumes $1,900/oz gold price, 86.75% gold recovery, 0% dilution, $77.65/t operating cost (mining, process and G&A), $11.20/t sustaining capital cost, as well as offsite and royalty costs.Mineral Resources are reported within DSO underground mining shapes generated at a 2 g/t Au cut-off grade, to ensure Mineral Resources meet RPEEE. The stope optimisation process allows for blocks below the cut-off to be included within the final shapes in order to emulate the internal dilution that would be experienced during underground mining as per CIM Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines prepared by the CIM Mineral Resource and Mineral Reserve Committee and adopted by the CIM Council on November 29, 2019.The QP is not aware of any legal, political, environmental, or other risk factors that might materially affect the estimate of Mineral Resources.Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.Mineral Resources are reported exclusive of Mineral Reserves.Figures have been rounded to reflect that this is an estimate, and totals may not match the sum of all components.
DPM Investor Day to be held December 4, 2025

DPM is hosting an investor day at 9 a.m. EST on Thursday, December 4, 2025, which will feature highlights of the Čoka Rakita FS by key members of the project development team. As well, DPM’s executive and technical teams will also present updates and insights on:

Exploration at the Rakita campChelopech explorationProgress at Vareš Q&A sessions will follow the presentations, providing an opportunity for direct engagement with the Company leadership.

The in-person event will be webcast, and a replay of the event will be available on the Company’s website at www.dpmmetals.com within two hours of the event’s conclusion.

In order to provide investors in an Australian time zone the opportunity to engage with DPM’s management team, DPM will also host a virtual Q&A session on December 5, 2025 at 11 a.m. AEDT (December 4, 2025 at 7 p.m. EST).

Access the registration link to attend either in-person or virtually via webcast.

About DPM Metals Inc.

DPM Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador. Our strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from our portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for our shareholders. DPM trades on the Toronto Stock Exchange (symbol: DPM) and the Australian Securities Exchange (symbol: DPM).

For further information please contact:

Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
[email protected]

Technical Information and Technical Report Filing

The 2025 FS and other scientific and technical information contained in this news release were prepared in accordance with the Canadian regulatory requirements set out in NI 43-101, and have been reviewed and approved by:

Malcom Titley, MAIG, Associate Principal Consultant, Environmental Resources Management Ltd. (“ERM”) for mineral resource estimation;Daniel (Niel) Morrison, P.Eng., Principal Process Engineer, DRA Americas Inc. (“DRA”) for metallurgical test work and recovery methods;Khalid Mounhir, P.Eng., Senior Mining Engineer, WSP Global Inc. (“WSP”) for mineral reserve estimation;Bruno Mandl, P.Eng., Senior Principal Mining Engineer, WSP for paste backfill;Michal Dobr, P.Geo., Senior Principal Hydrogeologist, WSP for hydrogeology;Isaac Ahmed, P.Eng, Director, Process and Mine Infrastructure Design, WSP for filter plant, paste plant and underground mine infrastructure;Darlene Nelson, P.Eng., Senior Principal Geological Engineer, WSP for underground mine geotechnical;Ian Major, P.Eng., MBA, Project Manager, DRA for project infrastructure and site costing;William Richard McBride, P.Eng., Senior Principal Mining Engineer, WSP for mine costing;Peter Corrigan, Engineers Ireland, BA BAI C.Eng MIEI, WSP for dry tailings storage facility and waste rock stockpiles;Ryan Sweetman, Institution of Civil Engineers, CEng, MICE, WSP for water management structures and water balance;Kevin Leahy, Ph.D., CGeol, SiLC, ERM for environmental studies, permitting, and social impact;Daniel Gagnon, P.Eng., SVP East Canada and Mining, DRA for market studies and economic analysis.
All are independent QPs, as defined under NI 43-101.

Ross Overall, Director, Corporate Technical Services, of the Company, who is a QP as defined under NI 43-101, has reviewed and approved the scientific and technical information disclosed in this news release.

A technical report prepared in accordance with NI 43-101 for the Čoka Rakita project is intended to be filed under the Company’s profile on SEDAR+. Readers are encouraged to read the technical report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the MRMR estimates and the FS.

The MRMR estimates discussed in this news release are classified in accordance with the disclosure requirement of the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014), incorporated by reference into NI 43-101. The MRMR and related information in this news release may not be comparable to similar information made public by U.S. companies, subject to the reporting and disclosure requirements under the United States’ federal securities laws and the rules and regulations thereunder.

Non-GAAP Measures

Certain financial measures referred to in this news release are not measures recognized under IFRS and are referred to as non-GAAP financial measures or ratios. These measures have no standardized meaning under IFRS and may not be comparable to similar measures presented by other companies. The definitions established and calculations performed by DPM are based on management’s reasonable judgement and are consistently applied. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

The non-GAAP financial measures used in this news release and common to the gold mining industry are defined below:

Cash cost and cash cost per tonne of ore processed: Cash cost consists of all production related expenses including mining, processing, services, filtered tailings and paste fill, royalties and general and administrative. Cash cost per tonne of ore processed is calculated as cash cost divided by the tonnes of ore processed.Cash cost of sales and cash cost per ounce of gold sold: Cash cost of sales consists of cash cost, plus treatment charges, penalties, transportation and other selling costs. Cash cost per ounce of gold sold is calculated as cash cost of sales divided by payable gold ounces.All-in sustaining cost and all-in sustaining cost per ounce of gold sold: All-in sustaining cost consists of cash cost of sales, plus cash outlays for sustaining capital expenditures and leases, and rehabilitation-related accretion and amortization expenses. All-in sustaining cost per ounce of gold sold is calculated as all-in sustaining cost divided by payable gold ounces.
Cash cost per tonne of ore processed, cash cost per ounce of gold sold, and all-in sustaining cost per ounce of gold sold capture the important components of the Company’s production and related costs and are used by the Company and investors to monitor cost performance at the Company’s operations.

As the Project is not in production, the QPs do not have historical non-GAAP financial measures nor historical comparable measures under IFRS and therefore the foregoing prospective non-GAAP financial measures or ratios presented may not be reconciled to the nearest comparable measure under IFRS.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” or “forward-looking information” (collectively, “Forward-Looking Statements”) that involve a number of risks and uncertainties. Forward-Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward-Looking Statements in this news release relate to, among other things; the estimation of MRMR and the realization of such mineral estimates; the statements under “FS Highlights” and the other results of the FS discussed in this news release, including, without limitation, project economics, anticipated returns for investors, financial and operational parameters such as expected throughput, production, mining and processing methods, tailings management, cash costs, all-in sustaining costs, other costs, capital expenditures, cash flow, NPV, IRR, payback period and life of mine; the completion of FS and the anticipated timing thereof; planned drilling activities and anticipated timing thereof; upside potential, opportunities for growth and optimization, and expected next steps in the development of the project, including any decisions with respect to the commencement of construction; engagement with stakeholders, including the commencement of training programs for local communities; anticipated benefits of the project for stakeholders and local communities; environmental and water management practices; timing of permitting activities and other governmental approvals; potential gold recoveries; and the price of gold, copper, silver, and other commodities. Forward-Looking Statements are based on certain key assumptions and the opinions and estimates of management and the QPs, as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the Forward-Looking Statements. In addition to factors already discussed in this news release, such factors include, among others, risks relating to the Company’s business, including possible variations in mineralized grade and recovery rates; uncertainties inherent to the conclusions of economic evaluations and economic studies; changes in project parameters, including schedule and budget, as plans continue to be refined; uncertainties with respect to actual results of current exploration activities; uncertainties inherent to the estimation of MRMR, which may not be fully realized; uncertainties inherent with conducting business in foreign jurisdictions where corruption, civil unrest, political instability and uncertainties with the rule of law may impact the Company’s activities; the impact of the conflicts in Ukraine and the Middle East, including resulting changes to the Company’s supply chain and costs of supplies; product shortages; delivery and shipping issues; additional delays in the advancement of the project, including with respect to the commencement of drilling activities; closures and/or failure of plant, equipment or processes to operate as anticipated; labour force shortages; fluctuations in metal and acid prices and foreign exchange rates; limitation on insurance coverage; accidents, labour disputes and other risks of the mining industry; the ability of the Company, stakeholders and local communities to realize the anticipated benefits of the project; delays in obtaining governmental approvals or in the completion of development or construction activities; opposition by social and non-government organizations to mining projects; unanticipated title disputes; claims or litigation; cyber-attacks and other cybersecurity risks; changes to tax regimes in the jurisdictions in which the Company operates; as well as those risk factors discussed or referred to in any other documents (including without limitation the Company’s most recent Annual Information Form) filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR+ at www.sedarplus.ca. The reader has been cautioned that the foregoing list is not exhaustive of all factors which may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-Looking Statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that Forward-Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company’s Forward-Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Unless required by securities laws, the Company undertakes no obligation to update Forward-Looking Statements if circumstances or management’s estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on Forward-Looking Statements.

1 All-in sustaining cost per ounce of gold sold is a non-GAAP ratio. This measure has no standardized meaning under IFRS Accounting Standards (“IFRS”) and may not be comparable to similar measures used by other issuers Refer to the “Non-GAAP Financial Measures” section of this news release for more information, including a detailed description of these measures.

2 Economics are from construction forward and assumes no initial capital is spent in advance of a construction decision.

Company plans to distribute Dream Bowl 2026 Meme Coin to shareholders as of a to-be-determined December 2025 date with distribution expected in January 2026 TAMPA, FLORIDA / ACCESS Newswire / November 26, 2025 / Wellgistics Health, Inc. ("Wellgistics") (NASDAQ:WGRX), a health information technology leader implementing EinsteinRx™ artificial intelligence prescription routing for the physical dispensing of prescription drugs with PharmacyChain™ blockchain-enabled smart contracts to optimize the tracking, dispending and insurance coverage of prescription pharmaceutical drugs from manufacturer to dispensing from pharmacy to patient, today announced that it is sponsoring Dream Bowl 2026 and participation in the DataVault AI (NASDAQ:DVLT) Shareholder Distribution Plan. The Company expects to set (1) a record date and (2) a distribution date for the Dream 2026 Meme Coin to its shareholders; both are expected to occur in December 2025.

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special.
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