Market Signal Briefing

December 18, 2025 19:30 ET

 | Source:

Carbon Streaming Corporation

TORONTO, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (the “Company”), reports that Mr. Marin Katusa (the “Acquiror”), the Chief Executive Officer of the Company, has purchased 1,184,000 common shares of the Company (the “Acquired Shares”) on the open market through the facilities of the Cboe Canada Exchange at the market price of $0.62 per Acquired Share for an aggregate purchase price of $734,080 and exercised 390,000 Common Share purchase warrants (“Warrants”) at $0.625 per Warrant for an aggregate Warrant exercise price of $243,750 (the “Acquisition”).

Prior to the Acquisition, the Acquiror owned or controlled an aggregate of 4,178,500 common shares of the Company (“Common Shares”) and 1,170,000 Warrants. The 4,178,500 Common Shares owned or controlled by the Acquiror prior to the Acquisition represented approximately 8.6% of the total number of issued and outstanding Common Shares. If all of the Warrants held by the Acquiror were exercised prior to the Acquisition, the Acquiror would have owned or controlled an aggregate of 5,345,500 Common Shares, representing approximately 10.8% of the issued and outstanding Common Shares on a partially diluted basis.

Immediately following the Acquisition, the Acquiror owned or controlled an aggregate of 5,752,500 Common Shares representing approximately 11.8% of the Company’s issued and outstanding Common Shares and 780,000 Warrants. If all of the Warrants held by the Acquiror were exercised immediately following the Acquisition, the Acquiror would own or control an aggregate of 6,532,500 Common Shares, representing approximately 13.2% of the issued and outstanding Common Shares on a partially diluted basis.

The Acquired Shares were acquired for investment purposes. Depending on market conditions, the Acquiror may, from time to time, acquire additional securities, exercise convertible securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.

This press release is being issued pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators.

A copy of the Early Warning Report will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

For more information or to obtain copies of the Early Warning Report, please contact Marin Katusa, Chief Executive Officer, at 365-607-6095 or by email at [email protected].

The Company's head office is located at 800 West Pender, Suite 530, Vancouver, British Columbia, Canada V6C 2V6‎.

About Carbon Streaming

Carbon Streaming’s focus is on projects that generate high-quality carbon credits and have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential.

ON BEHALF OF THE COMPANY:
Marin Katusa, Chief Executive Officer
Tel: 365.607.6095
[email protected]
www.carbonstreaming.com

Investor Relations
[email protected]

Media
[email protected]

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation, future purchases or sales of securities of the Company by the Acquiror.

When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking information. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and environmental, social and governance initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; the Company’s expectations and plans with respect to current litigation, arbitration and regulatory proceedings; limited operating history for the Company’s current strategy; concentration risk; inaccurate estimates of project value, which may impact the ability of the Company to execute on its growth and diversification strategy; dependence upon key management; impact of corporate restructurings; the inability of the Company to optimize cash flows or sufficiently reduce operating expenses; reputational risk; risks arising from competition and future acquisition activities failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 31, 2025 filed on SEDAR+ at www.sedarplus.ca.

Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

PERTH, Western Australia, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKEF) (‘Alkane’ or ‘the Company’) is pleased to announce the latest exploration results for depth drilling at the Storheden Deposit at its Björkdal Operation in northern Sweden.

Program Summary

The Storheden deposit is situated approximately 600m to the north of the active Björkdal mine that has produced 1.66M oz of gold since 1988 and has 1.40M oz in Measured and Indicated Mineral Resources as at 30 June 2025 (20.35 Mt grading 2.14 g/t gold).1Drilling over two recent campaigns has focussed on the depth testing and potential resource extension below the initial Inferred Mineral Resource for the Storheden Deposit estimated in 2025 of approximately 99koz (1,769 Kt at 1.74 g/t gold).1Gold baring quartz veins have been intercepted to a depth of 464m bearing which more than doubles the previous tested depth of 200m. Additionally drilling to the east and west has extended the strike length of known mineralisation to over 2.7km. The deposit remains open with no indications of diminishing grade at depth.The Björkdal style veining of Storheden is interpreted to be hosted in three favourable lithological units Akin to those that host Björkdal and it is interpreted that the two systems converge at depth. Assay Highlights

From the Depth Testing campaign: 16.2 g/t gold over 0.70 m (ETW 0.60 m) in SH24-003 at 475 m;14.0 g/t gold over 1.2 m (ETW 0.85 m) in SH24-004 at 317 m;34.3 g/t gold over 1.6 m (ETW 0.68 m) in SH24-006 at 470 m. From the Resource Extension campaign: 142.0 g/t gold over 0.60 m (ETW 0.25 m);111.0 g/t gold over 0.50 m (ETW 0.25 m); and41.4 g/t gold over 0.60 m (ETW 0.34 m) in SH25-006;57.7 g/t gold over 0.50 m (ETW 0.41 m) in SH25-009; and45.2 g/t gold over 0.50 m (ETW 0.38 m) in SH25-014.
Note: ETW refers to the Estimated True Width of the intercept. A full list of the Significant Storheden Intercepts can be found in Appendix 1.

Alkane Managing Director & CEO, Nic Earner, said: “These highly encouraging results from the Storheden Deposit further support our understanding that the wider Björkdal system is vast and underexplored. Our focus for Björkdal is bringing higher grade ore through the processing plant by replacing low grade stockpile feed with underground ore. Storheden presents an opportunity to create a distinct production area alongside those already in production and achieve this goal.”

________________________
1 Refer to ALK Announcement dated 15 October 2025 titled ‘Björkdal Resources and Reserves Statement FY25.

Björkdal Mine

Alkane Resources Ltd 100%

The Björkdal deposit was originally discovered in 1983 by Terra Mining AB during a till sampling program which highlighted anomalous gold values in the glacial till profile. The discovery of in situ gold anomalism followed in 1985 and a definition drilling program began in early 1986. After successful infill drilling and feasibility studies were completed mining operations commenced in 1988 with open cut mining leading to the commencement of underground mining in 2012. Open cut mining was put on hold in 2019 with the majority of processing feed coming from the underground operations and supplemented by a low-grade stockpile that was built pre 2019 from the open cut mining.

The mineralisation at Björkdal is hosted within quartz filled tensional fractures predominantly underneath a marble horizon within a complex of volcano-sedimentary units.

Since mining has commenced approximately 1.66 million ounces of gold has produced from the site at an average feed grade of 1.49 g/t. Exploration has continued to grow the Mineral Resources and reserves with the current Measured and Indicated Mineral Resources as at 30 June 2025 of 20.35 Mt grading 2.14 g/t gold.1

Alkane currently holds 211 square kilometres in exploration tenements and mining concessions centred on the Björkdal dome with a number of prospects actively explored and progressed over the past five years however the dominant focus of regional exploration has been on the Storheden deposit which is approximately 600m to the NNE of the current underground infrastructure.

Figure 1. Regional geological map showing the locations of exploration focus and the contiguous tenements around the Björkdal dome.

Storheden Gold Deposit

Gold mineralisation at Storheden was initially recognised by Terra Mining during the commencement of Björkdal operations in 1987. Base-of-till and bedrock samples obtained from this campaign outlined a NW-SE striking cluster of gold anomalies. These were subsequently targeted with successive campaigns of percussion (RC/DC) and diamond drilling by Terra Mining (1988-1997), GoldOre (2007-2011) and Mandalay Resources (2015-2017), together demonstrating mineralization in Björkdal-style quartz tension veins and shear-hosted veins.

Follow-up drilling in 2023 by Mandalay Resources Corporation tested the depth extension of auriferous veins at Storheden, while increasing the coverage of oriented drill core to better constrain the geometry of the mineralised system. This drilling doubled the known system depth to ~200m and confirmed system continuity over 1.6km. New confidence in veining continuity also led to the first Mineral Resource being reported for the project in 2025. A summary of the 2023 exploration results and Storheden resource are detailed in the Björkdal resource and reserve estimate released in October 20251

Since the reinvigoration of Storheden exploration in 2023, two drilling campaigns have been completed. In 2024 a depth testing campaign of 6,598m over 14 holes tested the deposit successfully at a depth of 464m with encouraging grades with 34.3 g/t gold over 1.6 m (ETW 0.68 m) in SH24-006 and 16.2 g/t gold over 0.70 m (ETW 0.60 m) in SH24-003 at vertical depths below surface of 443m of 436m respectively. As there was a significant distance between the depth testing campaign and the 2023 drilling the results of the 2024 deep drilling campaign were not included in the Inferred Mineral Resource estimated at the end of 2024.

Figure 2. Björkdal-Storheden overview map highlighting the 2024 and 2025 Storheden drilling campaigns.

Extension across strike was also a focus of the 2024 campaign and although the grades were relatively low, gold bearing veins were also intercepted in the furthest strike testing showing continuous mineralisation across 2.7km (Fig 3).

Figure 3. Long Section along confirmed Storheden mineralisation in relation to recent drilling results. Selected significant intercepts are annotated.

In 2025 the drilling campaign at Storheden had a narrower focus with the goals of further defining veining and ultimately building resources at depth where the potential exists to access the deposit from current underground workings. 7,938m meters over 14 holes was drilled into the interpreted core of the system. The closer spaced and oriented core also allowed for a more in-depth structural analysis of the veining.

Veining typical of Björkdal was seen in all holes with gold and tsumoite regularly identified within quartz (figure 4). Assay highlights of the program include 142.0 g/t gold over 0.60 m (ETW 0.25 m) and 111.0 g/t gold over 0.50 m (ETW 0.25 m) in SH25-006 as well as; 57.7 g/t gold over 0.50 m (ETW 0.41 m) in SH25-009 (figure 3).

Figure 4. Drill core photos from SH25-006 showing an intercept grading 142 g/t gold over 0.60 m (ETW 0.25 m) (A) and a close-up of mineralised quartz vein (B).

Geological Interpretation

The Storheden mineralisation stratigraphically overlies the Björkdal deposit and is hosted in mafic to intermediate volcanic successions of the Upper Skellefte group, close to the contact with sedimentary sequences in the Vargfors Group (fig. 1 and 5). Visible gold, Scheelite and Tsumoite have been intercepted in high-grade tension veins at Storheden, suggesting that mineralisation is derived from the same fluid source as the Björkdal deposit. However, rare disseminated Arsenopyrite may reflect a fluid contribution from nearby sedimentary sequences in the Vargfors Group

The Björkdal-Storheden system is hosted within a fold and thrust architecture on the northwestern margin of the Björkdal dome (fig. 1), where intersections of multiple generations of thrusts and strike-slip shears created favourable pathways for late mineralized fluids. Fluid flow was primarily localised along stratigraphic contacts characterised by significant rheological contrasts, which experienced repeated deformation during the transition from ductile to ductile-brittle conditions.

A key structure is the north-south striking, moderately west-dipping Cross fault (fig. 3), which extends across both the Björkdal and Storheden deposits and is parallel to the axial plane of the large fold hosting Björkdal and Storheden (fig. 1). High-grade mineralisation occurs as it intersects major stratigraphic contacts and interacts with other faults. These intersections provide a significant exploration target at depth in Storheden, as well as regionally across the Björkdal dome.

Due to the similar style of mineralisation and veining at Björkdal and Storheden, the two systems are interpreted to be connected at depth and share a common fluid source. Thickening of the stratigraphic sequence has led to a separation of the marble and Skellefte-Vargfors contact of approximately 750-1000 m at surface. However, the two contacts are projected to converge at depth and reach a level of separation comparable to other parts of the Björkdal dome structure (<200 m, see figure 1).

Figure 5. Cross section looking WNW showing the geographic relationship between the Björkdal deposit and mine to the left and the emerging Storheden system to the east.

Further Work

Interpretation from the two drilling campaigns is ongoing and the resource model is yet to be updated however the encouraging results so far and proximity to the current underground infrastructure highlight and already justify further drilling.

Alkane intends to recommence drilling in January 2026 and continue to grow the Resources and mineralisation framework at Storheden with the aim of creating a basis for a decision to mine. Upcoming programs will be focused on target zones defined from current drilling (A-C, see figures 2-3, 5), in which the lithostructural framework appear to have provided suitable conditions for quartz veining and mineralisation.

As well as the Storheden drilling Alkane will also continue to progress the Eastern Extension area and the North extension of the contiguous Björkdal deposit. The system does not yet show signs of diminishing gold endowment in these direction and exploration is ongoing as drilling platforms become available

This document has been authorised for release to the market by Nic Earner, Managing Director.

ABOUT ALKANE ‐ www.alkres.com ‐ ASX:ALK | TSX: ALK | OTCQX: ALKEF

Alkane (ASX:ALK; TSX:ALK; OTCQX:ALKEF) is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company has a strong balance sheet and is positioned for further growth.

Alkane’s wholly owned producing assets are the Tomingley open pit and underground gold mine southwest of Dubbo in Central West New South Wales, the Costerfield gold and antimony underground mining operation northeast of Heathcote in Central Victoria, and the Björkdal underground gold mine northwest of Skellefteå in Sweden (approximately 750 km north of Stockholm). Ongoing near-mine regional exploration continues to grow resources at all three operations.

Alkane also owns the very large gold-copper porphyry Boda-Kaiser Project in Central West New South Wales and has outlined an economic development pathway in a Scoping Study. The Company has ongoing exploration within the surrounding Northern Molong Porphyry Project and is confident of further enhancing eastern Australia’s reputation as a significant gold, copper and antimony production region.

Competent Persons Statement 

As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Alkane is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia is in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and that Alkane's ore reserve and mineral resource estimates and reporting comply with the JORC Code.

Alkane is also subject to certain Canadian disclosure requirements and standards as a result of its secondary listing on the Toronto Stock Exchange (TSX), including the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Investors should note that it is a requirement of Canadian securities law that the reporting of mineral reserves and mineral resources in Canada and the disclosure of scientific and technical information concerning a mineral project on a property material to Alkane comply with NI 43-101.

Unless otherwise advised above, or in the relevant ASX announcements referenced, the information in this announcement that relates to exploration results, mineral resources and ore reserves is based on, and fairly represents, information compiled by Mr Chris Davis, who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Alkane Resources Limited. Mr Davis has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the JORC Code 2012 and as a Qualified Person under NI 43-101. Mr Davis consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear. The information in this announcement that relates to previously reported exploration results, mineral resources and ore reserves is extracted from the Company’s ASX announcements noted in the text of the announcement and available to view on the Company’s website. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcements and that, in the case of estimates of mineral resources or ore reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Technical Reports released to the TSX or for TSX Market

The NI 43-101 compliant technical report titled ‘NI 43-101 Technical Report, Björkdal Gold Mine, Sweden’ and dated 28 March 2025, with an effective date of 31 December 2024 supports the information contained herein and is available on the ASX and under Alkane’s profile on SEDAR+ at www.sedarplus.ca.

Reference should be made to the full text of the foregoing technical report for the assumptions, qualifications and limitations relating to the Mineral Resource Estimates and Ore Reserves contained therein and herein. All material assumptions and technical parameters underpinning the estimates in the technical reports continue to apply and have not materially changed.

Cautionary Note Regarding Forward-Looking Information and Statements

This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively Forward-Looking Information). Actual results and outcomes may vary materially from the amounts set out in any Forward-Looking Information. As well, Forward-Looking Information may relate to: future outlook and anticipated events; expectations regarding exploration potential; production capabilities and future financial or operating performance, including AISC, investment returns, margins and share price performance; production and cost guidance and the timing thereof; issuing updated resources and reserves estimate and the timing thereof; the potential of Alkane to meet industry targets, public profile and expectations; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.

Forward-Looking Information is generally identified by the use of words like "will", "create", "enhance", "improve", "potential", "expect", "upside", "growth" and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-Looking Information.

Although Alkane believes that the expectations reflected in the Forward-Looking Information are reasonable, undue reliance should not be placed on Forward-Looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-Looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Alkane as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-Looking Information. Forward-Looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks relating to changes in the gold and antimony price.

Forward-Looking Information is designed to help readers understand Alkane’s views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Alkane assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Alkane updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.

Disclaimer

Alkane has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Alkane, its directors, officers, employees, associates, advisers and agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.

This announcement is not an offer, invitation, solicitation, or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever.

CONTACT:  NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677

INVESTORS & MEDIA:  NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556

APPENDIX 1

Drilling Results

Storheden Gold Deposit

Significant intercepts from the 2024 and 2025 drilling programs at Storheden:

Hole IDFrom (m)To (m)Interval (m)Estimated
True Width
(m) Gold Grade
(g/t)Gold Grade
diluted to 1 m
(g/t)SH24-001265.80266.851.051.01 0.940.94SH24-001290.40291.401.000.94 1.521.43SH24-002158.00158.900.900.78 0.920.72SH24-002244.20245.150.950.25 14.833.65SH24-002251.50252.100.600.42 1.440.61SH24-002342.50343.501.000.50 6.243.12SH24-002376.40376.900.500.17 5.210.89SH24-002486.00489.003.001.03 2.982.98SH24-003288.30289.000.700.35 1.770.62SH24-003292.10295.803.701.85 3.203.20SH24-003422.00422.800.800.66 1.100.72SH24-003463.20464.201.000.50 2.041.02SH24-003475.50476.200.700.60 16.209.72SH24-004297.70298.600.900.58 1.390.80SH24-004316.90318.101.200.85 14.0011.88SH24-004321.60323.001.400.36 3.371.22SH24-004337.70338.200.500.32 29.909.61SH24-004346.70347.200.500.17 43.907.51SH24-004397.80398.400.600.49 2.361.16SH24-005123.80125.802.001.53 2.592.59SH24-005176.80177.801.000.71 11.908.41SH24-005214.80215.801.000.77 1.190.91SH24-005216.80217.801.000.71 1.551.10SH24-005226.00228.002.001.53 1.631.63SH24-005343.70344.701.000.77 1.140.87SH24-005478.40479.300.900.78 0.880.69SH24-005488.40488.900.500.38 1.630.62SH24-00684.2085.201.000.64 0.910.58SH24-006252.00253.001.000.57 2.771.59SH24-006296.40297.000.600.34 4.211.45SH24-006403.00403.600.600.25 2.790.71SH24-006407.50408.200.700.54 3.201.72SH24-006461.50462.100.600.49 1.230.60SH24-006468.10469.701.600.68 34.2723.17SH24-006499.30500.000.700.57 2.381.36SH24-007239.00240.001.000.87 0.930.81SH24-007281.40282.100.700.54 2.491.34SH24-00887.4088.000.600.46 1.590.73SH24-009279.00279.700.700.54 0.990.53SH24-009291.90292.600.700.24 3.280.79SH24-010180.20181.201.000.71 6.334.48SH24-010600.60602.001.400.48 6.212.97SH24-011173.80174.801.000.94 0.850.80SH24-011180.80181.801.000.87 1.911.65SH24-011373.20374.100.900.45 13.976.29SH24-011494.00495.101.100.71 2.221.57SH24-013314.00315.001.000.57 1.300.74SH24-01464.2064.750.550.35 2.831.00SH24-01473.5074.801.301.00 1.541.54SH24-01475.6076.100.500.43 1.400.61SH24-01477.9078.901.000.64 1.320.85SH24-01481.9082.901.000.77 2.081.59SH25-001106.30106.800.500.21 6.101.29SH25-001145.70146.150.450.29 4.911.42SH25-001338.25339.200.950.73 2.151.56SH25-001383.00383.400.400.14 8.791.20SH25-001417.00417.900.900.78 2.491.94SH25-001428.40429.300.900.69 1.050.72SH25-00281.2082.000.800.57 1.931.09SH25-002144.90146.751.850.63 9.686.13SH25-002324.30325.200.900.64 6.334.03SH25-003205.30206.501.200.60 1.020.61SH25-003479.30479.900.600.46 3.381.55SH25-004248.30249.000.700.30 11.403.37SH25-004405.60406.150.550.39 3.081.20SH25-006168.00168.800.800.51 1.060.55SH25-006186.80187.300.500.25 2.770.69SH25-006189.30189.900.600.46 4.792.20SH25-006203.85205.001.150.81 8.376.81SH25-006218.00219.401.401.07 4.884.88SH25-006224.35224.800.450.37 9.083.35SH25-006251.35251.800.450.23 2.310.52SH25-006253.40254.000.600.25 142.0036.01SH25-006269.20270.501.300.84 1.251.04SH25-006283.80284.300.500.29 17.204.93SH25-006292.85293.300.450.29 9.512.75SH25-006306.90307.700.800.51 1.250.64SH25-006312.00312.600.600.34 41.4014.25SH25-006341.20342.201.000.64 1.751.12SH25-006343.90344.700.800.61 1.010.62SH25-006347.80348.700.900.58 1.190.69SH25-006360.50361.100.600.52 1.090.57SH25-006368.80369.700.900.58 2.341.35SH25-006395.30395.850.550.35 6.252.21SH25-006434.00434.500.500.25 111.0027.75SH25-006484.90486.201.300.65 1.140.74SH25-006493.40494.300.900.45 10.004.50SH25-006495.30496.150.850.65 1.220.79SH25-006510.80511.700.900.58 0.950.55SH25-007213.10213.800.700.54 1.740.93SH25-007327.40336.308.905.72 1.441.44SH25-007497.90498.300.400.20 4.450.89SH25-008317.60318.601.000.50 1.120.56SH25-0096.507.200.700.35 2.390.84SH25-009227.80228.801.000.50 1.060.53SH25-009258.00258.700.700.45 1.930.87SH25-009299.10300.000.900.23 2.730.64SH25-009312.70313.200.500.41 57.7023.63SH25-009328.80329.600.800.57 2.081.18SH25-009346.70347.200.500.32 4.341.39SH25-009365.00365.400.400.28 12.303.48SH25-009370.80371.300.500.32 4.671.50SH25-009376.60378.301.700.58 7.254.21SH25-009393.80394.200.400.26 3.200.82SH25-009445.90446.300.400.33 30.109.86SH25-009460.90461.600.700.40 1.260.51SH25-010134.00134.650.650.42 14.406.02SH25-010201.20201.700.500.21 14.703.11SH25-010219.50220.000.500.13 5.890.76SH25-010228.35230.001.650.83 1.020.84SH25-010262.30263.301.000.42 2.361.00SH25-010303.80305.501.700.85 2.512.13SH25-010348.80349.801.000.42 3.121.32SH25-010394.10396.902.800.96 1.831.75SH25-010400.00403.003.001.03 1.891.89SH25-010407.10408.101.000.42 26.0010.99SH25-011109.80111.301.500.86 0.900.77SH25-011236.60237.300.700.49 7.083.50SH25-011275.30275.800.500.29 11.003.15SH25-011374.00374.600.600.46 3.221.48SH25-012142.90143.400.500.21 2.490.53SH25-012283.30283.800.500.17 3.500.60SH25-012296.40297.100.700.45 23.8010.71SH25-012351.30352.501.200.69 10.467.20SH25-012589.50590.000.500.43 2.851.23SH25-012594.00594.500.500.41 4.121.69SH25-013170.10171.501.400.59 1.120.66SH25-013218.00218.900.900.45 2.641.19SH25-013254.80255.200.400.33 1.880.62SH25-013312.60313.200.600.25 10.702.71SH25-013449.00450.701.701.30 2.982.98SH25-01431.8032.801.000.34 1.570.54SH25-01435.8036.750.950.61 0.820.50SH25-01443.2043.800.600.34 2.340.81SH25-01466.6067.100.500.32 16.405.27SH25-01492.4093.050.650.50 1.000.50SH25-014120.00120.500.500.32 8.212.64SH25-014176.30177.000.700.49 1.730.86SH25-014215.05215.550.500.38 45.2017.31SH25-014252.30253.701.400.90 8.087.27SH25-015192.60193.200.600.21 18.803.86SH25-015265.00265.700.700.35 1.470.51SH25-015312.20313.701.500.51 16.198.31SH25-015344.30345.301.000.34 1.960.67SH25-015359.20359.700.500.29 3.941.13SH25-015448.20448.700.500.50 7.133.55SH25-015451.50452.000.500.32 2.550.82SH25-015555.40556.801.400.70 2.071.45SH25-015571.40572.200.800.40 1.580.63SH25-015587.35587.950.600.21 2.550.52SH25-015590.70591.200.500.21 23.304.92SH25-01659.0060.001.000.57 3.311.90SH25-01753.4054.000.600.30 1.760.53SH25-01769.3069.800.500.25 6.821.71SH25-01783.6084.601.000.50 1.760.88SH25-017105.20105.700.500.25 19.604.90SH25-017134.20134.900.700.35 2.640.92 Notes:

Where true widths are greater than 1m, grades are not diluted and are presented as the grade over the intercept true width.Intercepts that are below 0.5 g/t Au when diluted to 1 m are not reported in this table. Drill hole collar details from the 2023 drilling programs at Storheden:

Hole IDSWEREF
NorthSWEREF
EastSWEREF
ElevationDEPTHAzimuth
(SWEREF)DIPDate FinishedSH24-0017214323763165152315.65135-614/06/2024SH24-0027214092764647159530.70173-7313/06/2024SH24-0037214158764742158580.60154-7424/06/2024SH24-0047214172763670164470.70145-761/07/2024SH24-0057214162764478163521.50165-749/07/2024SH24-0067214202764628161530.00167-7416/07/2024SH24-0077213906765856144461.20165-6020/07/2024SH24-0087213670765848136300.60165-6423/07/2024SH24-0097213804765527142452.20225-6027/07/2024SH24-0107214201765083145610.70165-553/08/2024SH24-0117214202765085145592.00150-4510/08/2024SH24-0127213582764933146350.5015-6414/08/2024SH24-0137213582764935146452.0060-5018/08/2024SH24-0147214070763628162430.10165-7724/08/2024SH25-0017214033764605159481.80141-7714/05/2025SH25-0027214038764658158431.90156-7119/05/2025SH25-0037214146764637160497.25157-7925/05/2025SH25-0047214136764701158446.90142-733/06/2025SH25-0067213540764916147551.35331-4513/06/2025SH25-0077213562764927147527.50344-4519/06/2025SH25-0087213542764918147434.80340-5124/06/2025SH25-0097213562764927147463.60321-4329/06/2025SH25-0107213568764837147530.60348-495/07/2025SH25-0117213556764821148440.60343-4310/07/2025SH25-0127213542764916148598.70340-4418/07/2025SH25-0137213563764926147599.60332-4325/07/2025SH25-0147213513764906148532.30328-431/08/2025SH25-0157213567764837147602.30343-489/08/2025SH25-0167213868764400158351.30150-6613/08/2025SH25-0177213980764525158447.00150-7118/08/2025 Notes:

Coordinate System: SWEREF 99 APPENDIX 2

JORC Code, 2012 Edition – Table 1 Report – Björkdal Gold Mine

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

CriteriaJORC Code explanation  Commentary Sampling techniques Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.   The Björkdal Mine has been evaluated using diamond drilling (DD) core samples, reverse circulation (RC) samples located in the open pit, chip/channel (CH) samples from underground faces, and channel samples from blasted rock in the open pit for grade control purposes. The Storheden and Norrberget satellite deposits have been evaluated using DD core and RC samples only.The Mineral Resource estimation (MRE) databases include samples collected by various operators from 1986 to 30 September 2024. Any sample types considered not to have acceptable sample quality and representativity are excluded from the MRE. This includes Björkdal sludge samples from development drilling, direct circulation samples from historical open pit grade control drilling and samples with lengths less than 0.1 m.

The below commentary captures the main sampling techniques used since acquisition of the project by Mandalay Resources (now Alkane Resources) in 2014. As of 30 September 2024, the company had completed a total of ~420 km of DD core and ~120 km of RC drilling.

  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.   DD – meterage markers are placed in the core tray at the end of each recovered drill run. Upon receipt at the Björkdal on-site core processing facility, the core is oriented, measured to check meterage and each core box marked with meterage values. Selective whole core sampling is typically employed, with sample intervals determined by the logging geologist, to encompass potential mineralisation and honour geological contacts. Minimum sample lengths ensure reasonable minimum sample weights for a given core diameter.RC – drill cuttings are dropped out of the cyclone into a riffle or rotary splitter at the completion of a 1 m drilling interval, to generate a homogenous 3 to 4 kg sample.

CH – after geologists mark up the area to be sampled, the sampler uses a hammer and bucket to collect chips from shoulder to knee height and across the entire face for a combined ~5 kg sample.

  Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.   Samples are prepared and analysed by the CRS laboratory in Kempele, Finland (exploration DD) or the Björkdal on-site laboratory currently operated by CRS (resource development and production DD, RC samples and chip/channel samples from underground faces). CRS is certified according to ISO 9001:2008 and accredited by FINAS Finnish Accreditation Service, ISO 17025:2017 (T342).Samples are dried, crushed to >70% passing 2 mm and split to a 500 g sub-sample. As part of the PAL1000 analytical method, the sub-sample is then pulverized (typically to more than 90% < 75 µm) and simultaneously leached with cyanide, with the solution analysed for gold by atomic absorption spectroscopy (AAS). The PAL1000 method is considered suitable for deposits with coarse or particulate gold and, in the case of Björkdal, should provide a reduction in sampling errors over fire assay techniques.

 Drilling techniques Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).   Drilling techniques include surface and underground wireline diamond core drilling methods. Exploration DD is typically carried out by drilling contractors using standard wireline drilling equipment and a range of core sizes including WL66 (50.5 mm core diameter), NQ2 (50.7 mm core diameter), and WL76 (57.5 mm core diameter). Core orientation tools are used on all exploration diamond drillholes. Production and development optimisation holes are primarily drilled with Mandalay-owned and operated underground wireline drill rigs using smaller core diameters (28.8 to 39 mm).RC drilling has been used for near-surface exploration and open pit grade control drilling, with 5 to 5.5 inch diameter face sampling hammer and 3 to 6 m drill rods.

 Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed.   DD – core recovery is recorded by the drillers on markers at the end of each drill run and checked against measurements of the core by the logging geologist.RC – sample weights are checked for selected sample intervals and monitored against the expected sample weight.

  Measures taken to maximise sample recovery and ensure representative nature of the samples.   DD – drillers adjust the rate of drilling and method if recovery issues arise. Core recovery values are generally more than 95%.
RC – a booster compressor is used to maintain dry samples and sample return for deeper drillholes.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.   There is no known relationship between sample recovery and grade. Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.   Logging data is captured directly into a local GeoSpark database, to ensure entered data is restricted to a valid range of accepted codes. Geological data collected describes the lithology, alteration, veining, structures and geotechnical features of the rock. Logging procedures are considered sufficiently detailed to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.   Logging is qualitative or quantitative depending on the variable being captured. Digital photographs are taken of wet drill core and on-vein development headings prior to sampling.  The total length and percentage of the relevant intersections logged.   All drillhole intersections are logged by qualified geologists. Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken.   Whole core sampling is typically employed for DD samples.  If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.   RC samples are split using a riffle or rotary splitter. A booster compressor is used to maintain dry samples for deeper drillholes.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.   Samples are oven dried, crushed to >70% passing 2 mm using a jaw crusher and split to a 500 g sub-sample using a rotary splitter or rotating sample divider. This is considered an appropriate preparation workflow to deliver representative sub-samples for analysis.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.   All equipment is cleaned by pressurized air after every sample, with the crusher cleaned with blank stones between batches. Regular sieve tests are completed to monitor particle size.  Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.   Select batches of coarse reject duplicates have been completed for DD core and underground chip/channel samples in 2023 and 2024. No clear, consistent bias between the original and duplicate sample is observed.  Whether sample sizes are appropriate to the grain size of the material being sampled.   Sample sizes are considered appropriate for the mineralisation style. Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.   In the PAL1000 analytical method, a 500 g sub-sample is pulverized (typically to more than 90% < 75 µm) and simultaneously leached with cyanide, with the solution analysed for gold by atomic absorption spectroscopy (AAS). Assay detection limits typically range from a lower limit of 0.05 g/t Au to an upper limit of 300 g/t Au. Lower detection limit is reduced to 0.01 g/t Au for exploration samples via solvent extraction
The PAS1000 technique is partial and determines the cyanide-soluble gold in samples. Checks have been conducted on residue material remaining after PAL assaying to confirm the completeness of the digestion stage and the transfer of gold to solution. The checks typically demonstrate that Björkdal mineralisation behaves well with this method and returns residue values of 0.6 to 1 % of the reported gold assay value.  For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.   No geophysical tools are used to analyse the samples.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.   Since 2014, QAQC protocols have included regular insertion of blanks and certified reference materials (CRMs) within each 20-sample batch, with additional blank samples inserted after samples containing visible gold. QAQC failures result in re-assaying of portions of the affected sample batches. CRM and blank results indicate acceptable levels of accuracy and no material contamination.
Select batches of coarse reject duplicates were completed for DD core and underground chip/channel samples in 2023 and 2024, showing no systematic bias and acceptable levels of precision in sample preparation and analysis.
Laboratory QAQC includes blank tests throughout the PAL1000 procedure, with the AAS finish checked against standard solutions of known gold grades. Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel.   Drillhole data is compiled and reviewed by senior site personnel.SLR have completed data verification during site visits including visual review of mineralised intersections, spot checks between database assay tables and original laboratory certificates. No check samples were taken by the SLR CP to independently confirm the presence of gold mineralisation, as the site has a long history of gold production, and the presence of gold was directly observed during the visit to the processing plant.

  The use of twinned holes.   No twinned drillholes have been completed.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.   Logging data is captured directly into a Datashed database, with validation checks built into the data entry process. Primary assay data is received from the laboratory as electronic data files. All drillhole, sampling and assay information is uploaded into the Datashed database. Subsets from this master database are extracted and used for modelling and estimation.SLR validated the database using standard software tools to check for errors within the database. A check was also undertaken to ensure that the drill hole elevation was comparable with the digital terrain model (DTM) surface.

Electronic copies of all primary locations, logging and sample results data are filed for each hole.

  Discuss any adjustment to assay data.   No adjustments have been made to the assay data. Location of data points Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.   DD collars – surveyed using either Total Station equipment for underground or Differential Global Positioning System (DGPS) equipment for surface drillholes.
RC collars – Open pit grade control drillholes surveyed using a Trimble TSC3 GPS controller unit.
DD downhole surveys – Since 2015, carried out using a Reflex Gyro Smart tool at 3 m intervals upon completion of the hole.
RC downhole surveys – No downhole surveys were taken for grade control holes less than 70 m in length. All exploration drill holes are surveyed along their full length on completion, using gyroscopic tools.
Underground chip/channel samples – surveyed using Total Station surveying equipment.
Open pit and stockpiles – surveyed using drone-mounted LiDAR methods.
Underground mine – The excavated volume of development headings is determined using a hand-held Hovermap scanner. Cavity monitoring system (CMS) scans are typically used to survey stope voids.  Specification of the grid system used.   The coordinate system used for the Björkdal Mine and Storheden deposit is the Björkdal Mine Grid which is in SI units. The Mine Grid is rotated 29.67° west of true north. The 0 RL elevation was based upon the highest point in the vicinity of the Mine.The coordinate system used at Norrberget is SWEREF99, the official Swedish reference system.

  Quality and adequacy of topographic control.   A LiDAR survey was carried out in July 2016 and updated following cessation of mining activities in the open pit on 1 August 2019. The topographic surface was provided to SLR in a digital format that was suitable for coding the block models and estimating the Mineral Resources and Ore Reserves. Data spacing and distribution Data spacing for reporting of Exploration Results.   Björkdal open pit – RC grade control drilling in the open pit was typically completed on a 7.5 m by 15 m grid. Each drillhole generally covers three or four benches, or approximately 20 m vertical depth for a 32 m long hole.Björkdal underground – Underground diamond drill spacing is variable, due to fan-like drilling configurations that intersect multiple stacked sub-parallel veins at different depths down-hole. 10 m by 10 m to 20 m by 20m spaced pierce points are typically achieved on the main mineralised veins. Since 2015, face sampling has been completed for each 4m cut during on-vein development.

Storheden deposit – surface DD and RC collars typically ranges from 30 m by 30 m to 60 m by 60 m spacing.

Norrberget deposit – surface DD collars typically range from 25 m by 25 m to 50 m by 50 m spacing.

  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.   The drill hole and channel sample spacing and distribution relative to geological and grade continuity is considered sufficient to support estimation of Mineral Resources and Ore Reserves and the classifications applied.  Whether sample compositing has been applied.   No sample compositing is applied during the sampling process. Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.   Drilling aims to intersect mineralisation approximately perpendicular to the interpreted strike and dip of the main mineralised veins, where access facilitates this.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.   All deposits are interpreted to have a relatively stable dominant vein orientation from which drill orientation has been optimised. Drill orientation with respect to structure is not considered to have introduced material sampling bias. Sample security The measures taken to ensure sample security.   All samples are collected in secure labelled bags alongside sample number ticked. All samples are transported to the Björkdal on-site core logging and sample preparation facility, which is located within a secure area. Only persons permitted by Björkdal are allowed to handle the samples. Only commercial freight companies or company personnel transport the samples to the laboratories. Sample shipment lists are emailed to the analytical laboratories.The Datashed database is located on the Björkdal server, with daily backups and access restrictions based on user level.

 Audits or reviews The results of any audits or reviews of sampling techniques and data.   SLR has audited the drillhole databases and reviewed sampling techniques on site. The sample preparation, analysis, and security procedures for Björkdal, Storheden and Norrberget are considered adequate for use in the estimation of Mineral Resources and Ore Reserves.  Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

CriteriaJORC Code explanation  Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.   Alkane Resources Ltd. (Alkane) holds 100% of Björkdal through Swedish registered company Björkdalsgruvan AB and its subsidiary Björkdal Exploration AB. Björkdalsgruvan AB owns 13 mining concessions across Björkdal (including Storheden) and one mining concession at Norrberget. The total area of the mining concessions is ~490.63 ha.The holder of a mining concession must pay an annual minerals fee to the landowners of the concession area and to the State. The fee is 0.2% of the average value of the minerals mined from the concession, 0.15% of which is paid to the landowners in proportion to their share of ownership of the concession area. The remaining 0.05% is paid to the State to be used for research and development in the field of sustainable development of mineral resources.

All surface rights required for the Björkdal mining concessions have been designated to the Company. No surface rights for mining have been acquired at the Norrberget deposit.

  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.   No known impediments exist, and the mining concessions are in good standing. Mining of Norrberget requires an environmental permit prior to commencing operations. Exploration done by other parties Acknowledgment and appraisal of exploration by other parties.   Key milestones in the exploration and development of the Björkdal Mine and Storheden deposit include:1983 to 1985 – Björkdal gold mineralisation discovered by Terra Mining AB (Terra Mining) via till sampling, with subsequent identification of gold in bedrock.

1986 to 1988 – completion of definition drilling, metallurgical testwork and a feasibility study, resulting in commencement of open put production at Björkdal. Gold mineralisation discovered in top of bedrock drilling at Storheden.

1996 to 1999 – Terra Mining purchased by William Resources Ltd (William). Operation closed by William in June 1999.

2001 to 2003 – Björkdal purchased at public auction by International Gold Exploration and production restarted.

2003 to 2006 – acquired by Minmet plc.

2006 to 2012 – acquired by Gold-Ore Resources Ltd (Gold-Ore). Initial production from stockpiles and open pit ore. Full scale underground operations commenced in mid-2008.

2012 to 2014 – In May 2012, Elgin Mining Inc. (Elgin) acquired Gold-Ore.

2014 to 2025 – In September 2014, Mandalay Resources Corp. (Mandalay) acquired Elgin.

2025 to present – In August 2025, Mandalay merged with Alkane Resource Ltd.

Key milestones in the exploration of the Norrberget deposit include:

1994 to 1996 – discovered by COGEMA, followed by phased drill testing.

1997 to 2007 – COGEMA withdrew from Sweden and the Norrberget exploration permits were taken up by North Atlantic Nickel (NAN).

2007 to 2025 – Gold-Ore purchased exploration permits surrounding the Björkdal property from NAN. The deposit then followed the same history as the main Björkdal Mine.

 Geology Deposit type, geological setting and style of mineralisation.   The Björkdal, Storheden and Norrberget gold deposits are located within the Skellefteå belt of the Fennoscandian shield, a west to northwest trending, 120 km long and 30 km wide zone of deformed and metamorphosed Paleoproterozoic volcanic, sedimentary, and igneous rocks.The Björkdal and Storheden deposits are predominantly lode-style, sheeted vein deposits. Gold is found within quartz veins that range in thickness from less than a centimetre to several decimetres. The veins typically have vertical to sub-vertical dips and strike orientations between azimuth 030° and 090° (true north).

At Björkdal, the mineralised quartz veins are stacked within a gently north dipping host sequence. In the upper portions of the Mine, the sheeted quartz veins are concentrated in the footwall intermediate volcanic unit, located beneath a marble marker. The Björkdal fault zone closely follows the orientation of the marble marker unit and serves to truncate the upper limits of the quartz veins in the footwall structural block. In the deeper portions of the Mine, the Björkdal fault zone acts as the lower limits of the quartz veins hosted in the hanging wall structural block, by interbedded mafic to intermediate volcanic rocks.

Gold-rich quartz veins are often associated with minor quantities of pyrite, pyrrhotite, chalcopyrite, scheelite or bismuth-telluride compounds. Gold occurs dominantly as free gold. Wall rock alteration typically consists of silicification and albitization.

In areas of the mine where intense alteration is in contact with the marble marker unit, strong skarnification can be observed, forming discrete lenses of gold mineralisation associated with 1-2 cm silica-pyrrhotite-actinolite clotted disseminations.

At Norrberget, gold mineralisation is stratabound within an interbedded altered volcaniclastic package that sits unconformably below a 30 m to 40 m thick marble unit. Gold mineralisation has been observed up to 50 m below this contact. The mineralisation is primarily associated with amphibole-albite alteration bands and veinlets. The gold is very fine grained and rarely visible. High grade gold is mostly found in areas with low to no pyrite.

 Drill hole Information A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collarelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length.   Summary information for recent exploration drillholes has been included in Appendix 1 of this report.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.   Exclusion of previous drill hole information will not detract from the understanding of this report. Given the size of the databases used, it is not considered relevant or practical to summarise all drill hole information used in the reported Mineral Resource and Ore Reserve estimates. Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.   Intercept grades are downhole length weighted average grades of samples above 0.5 g/t Au. Where true intercept width is below 1 m, intercept grade is diluted to 1 m true width prior to selection according to the 0.5 g/t Au cut-off grade criteria.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.   Intercept calculations allow for maximum internal dilution of 3 metres.  The assumptions used for any reporting of metal equivalent values should be clearly stated.   No metal equivalents are reported. Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).   True width has been estimated for each intercept based on the relationship between drilling orientation and interpreted structural orientation. Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.   Appropriate maps and sections have been included in this report. Tabulations of intercepts have been included in Appendix 1. Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.   Both low and high grade and/or width intercepts have been stated for the recent exploration programs included in this report. Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.   No other exploration data is considered meaningful and material to this report. Further work The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.   Resource definition is planned to infill areas of Inferred Resource. Exploration drilling is planned to test down-plunge and depth extensions of all deposits.Appropriate diagrams highlighting areas of possible extensions are included in this report.

  Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/e4bc24ed-dbea-4118-a5f0-2ba26c54e5c7

https://www.globenewswire.com/NewsRoom/AttachmentNg/e2f97cf9-58d2-406d-bcba-46fb8713d11a

https://www.globenewswire.com/NewsRoom/AttachmentNg/c77c6f85-8b22-470b-987f-b38f47fc2972

https://www.globenewswire.com/NewsRoom/AttachmentNg/e6a3b110-eb87-43ea-96ea-16c18b36ed38

https://www.globenewswire.com/NewsRoom/AttachmentNg/5d049504-c5cf-427c-a1ec-8fe478287ec1

https://www.globenewswire.com/NewsRoom/AttachmentNg/a02e544b-5acc-4d54-b77d-252d314723ca

BlackBerry (BB - Free Report) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +25.00%. A quarter ago, it was expected that this cybersecurity software and services company would post earnings of $0.01 per share when it actually produced earnings of $0.04, delivering a surprise of +300%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

BlackBerry, which belongs to the Zacks Internet - Software industry, posted revenues of $141.8 million for the quarter ended November 2025, surpassing the Zacks Consensus Estimate by 2.01%. This compares to year-ago revenues of $143 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

BlackBerry shares have added about 12.7% since the beginning of the year versus the S&P 500's gain of 14.3%.

What's Next for BlackBerry?While BlackBerry has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for BlackBerry was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.05 on $149 million in revenues for the coming quarter and $0.15 on $534 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Penguin Solutions, Inc. (PENG - Free Report) , has yet to report results for the quarter ended November 2025. The results are expected to be released on January 6.

This company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of -16.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Penguin Solutions, Inc.'s revenues are expected to be $337.57 million, down 1% from the year-ago quarter.

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, /PRNewswire/ -- The Ademi Firm is investigating VYNE (Nasdaq: VYNE) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Yarrow Bioscience.

Click here to learn how to join our investigation and obtain additional information or contact us at [email protected] or toll-free: 866-264-3995.  There is no cost or obligation to you.

In the transaction, VYNE shareholders will receive the pre-Merger VYNE stockholders are expected to own approximately 3% of the combined company, and the pre-Merger Yarrow stockholders are expected to own approximately 97% of the combined company. VYNE insiders will receive substantial benefits as part of change of control arrangements.

The transaction agreement unreasonably limits competing transactions for VYNE by imposing a significant penalty if VYNE accepts a competing bid. We are investigating the conduct of the VYNE board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi & Fruchter LLP                                 
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi LLP

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December 18, 2025 18:29 ET

 | Source:

Liberty Defense

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia and WILMINGTON, Mass., Dec. 18, 2025 (GLOBE NEWSWIRE) -- Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (TSXV: SCAN, OTCQB: LDDFF, FRANKFURT: LD2), a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, is pleased to announce that it is amending the terms of its non-brokered private placement (the “Offering”) previously announced on December 2, 2025 and December 12, 2025. The amended Offering will be for a minimum of 6,818,182 units (“Units”) and up to a maximum of 13,636,364 Units at a price of $0.22 per Unit for minimum gross proceeds of approximately $1,500,000 up to maximum gross proceeds of approximately $3,000,000.

Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company (a “Warrant Share”) at an exercise price of C$0.30 per Warrant Share from the date that is 61 days after the closing date of the Offering until the date that is 24 months following the date of closing of the Offering. The Warrants will be subject to ten percent (10%) blocker provision that restricts the exercise of any Warrants in the event that such exercise would result in the applicable securityholder holding ten percent (10%) or more of the issued and outstanding Common Shares at such time.

The Warrants are subject to an accelerated expiry if, any time after the date that is 61 days following the closing date of the Offering, the closing price of the Common Shares on the TSX Venture Exchange (“TSXV”), or such other market as the Common Shares may trade from time to time, is or exceeds $0.75 for any five (5) consecutive trading days, in which event the holders of the Warrant may, at the Company’s election, be given notice and the Company will issue a press release announcing that the Warrants will expire 5 days following the date of such press release. The Warrants may be exercised by the holder of the Warrant during the 5-day period between the date of the press release announcing the accelerated expiry date and the expiration of the Warrants.

The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions to the Listed Issuer Financing Exemption (the “LIFE Exemption”) to purchasers resident in each of the Provinces of Canada, except Quebec. The Units issued pursuant to the LIFE Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the Offering available under the Company's profile at www.sedarplus.ca and on the Company's website at: www.libertydefense.com. Prospective investors should read this offering document before making an investment decision.

Upon closing of the Offering, the Company may pay a (i) a finder’s fee equal to up to 7.0% of the aggregate gross proceeds of the Offering and (ii) issue non-transferrable warrants of the Company exercisable at any time prior to the date that is 24 months from the Closing Date to acquire that number of Common Shares equal to 7.0% of the number of Units issued under the Offering, at an exercise price of $0.30, subject to adjustment in certain events.

The Company plans to use the proceeds of the Offering to purchase inventory to further the production of HEXWAVE technology units, investor relations and marketing initiatives, operating expenses and for general working capital purposes.

The Offering is scheduled to close on or about December 23, 2025 (the “Closing Date”) and completion of the Offering is subject to certain conditions including, but not limited to, receiving subscriptions for the minimum amount of $1,500,000 under the Offering and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

On Behalf of Liberty

Bill Frain
CEO & Director

About Liberty

Liberty (TSXV: SCAN, OTCQB: LDDFF, FRANKFURT: LD2) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security such as airports, stadiums, schools, and more. Liberty’s HEXWAVE product, for which the Company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com

For further information about Liberty, please contact:

Jay Adelaar, Senior Vice President of Capital Markets
Email: [email protected]
Tel: 604-809-2500

FORWARD-LOOKING STATEMENTS

When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this press release include, amongst others, the Company's ability to obtain subscriptions for the minimum amount of $1,500,000 under the Offering, the Company's ability to complete the Offering on the terms and on the proposed closing timeline announced or at all and the use of proceeds of the Offering. Such statements and information reflect the current view of Liberty. Such statements and information reflect the current view of Liberty. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 press release.

December 18, 2025 18:30 ET

 | Source:

ArrowMark Financial Corp.

DENVER, Dec. 18, 2025 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp. (Nasdaq: BANX) (“ArrowMark” or the “Fund”) today announced that it has entered into a securities purchase agreement with investors to purchase 673,249 of its shares of common stock, in a registered direct offering. The purchase price for one share of common stock was $22.28. The Net Asset Value at the time of the transaction was $22.20. The registered direct offering is accretive to current shareholders.

The proceeds from the registered direct offering are expected to be $14,999,987.72, exclusive of legal and administrative expenses associated with the transaction. ArrowMark anticipates that the net proceeds will be invested in accordance with its investment strategy.

The securities described above are being offered pursuant to a “shelf” registration statement (File No. 333-281004) originally filed with the Securities and Exchange Commission (SEC) on July 24, 2024 and declared effective on February 18, 2025. Such securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the offering of the securities will be filed with the SEC. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the offering of the securities may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting Investor Relations at (877) 855-3434 or 100 Fillmore Street, Suite 325, Denver, CO 80206.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor are there any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About ArrowMark Financial Corp.

ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. The Fund pursues its objective by investing primarily in regulatory capital securities of financial institutions. ArrowMark Financial is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com or contact the Fund’s secondary market service agent at 877-855-3434.

Disclaimer and Risk Factors:

There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial's investment objective, risks, charges and expenses. Past performance does not guarantee future results.

The Annual Report, Semi-Annual Report and other regulatory filings of the Fund with the SEC are accessible on the SEC's website at www.sec.gov and on the Fund’s website at ir.arrowmarkfinancialcorp.com. 

Contact:

Investor Relations
[email protected]
Destra Capital Advisors LLC 
(877) 855-3434

In the evolving landscape of blockchain technology, Solana has rapidly emerged as a platform not merely defined by its technical capabilities but by its broader implications for economic infrastructure. By enabling the class of decentralized applications, SOL is positioning itself as a high-performance blockchain and a foundational layer for the next-generation economic activity. 

Why Infrastructure That Enables Continuous Markets
In an X post, crypto analyst Vibhu mentioned that Solana is no longer just a piece of financial technology, but a fully functioning economy. What exists on SOL today has gone beyond transactions and smart contracts. 

According to the expert, there are dollars and native currencies, real-world assets, metals and rare minerals, energy market, information markets, manufacturing primitives, and global trade rails all operating in real-time on-chain. SOL also has politics, governance processes, divided factions, and ongoing debates about the leading network’s future.

At this point, we are witnessing the birth of a country that lives entirely on the internet. Measured through economic output, SOL would rank around the 157th largest country in the world by GDP (Gross Domestic Product), comparable in size to nations such as Eswatini or Fiji. However, SOL is globally integrated by default, and from a forex and asset-flow perspective, it punches above its weight, integrating with the largest banks and financial institutions across the globe.

Furthermore, SOL has withstood sustained network attacks from nation-state actors, defending itself with systems engineers instead of armies. Economically, SOL is already engaged in trade with countries like Bhutan, ranked 164, the Isle of Man, ranked 154, and even Kazakhstan, which ranks 49 in global economic standings. “Solana is a digital country, and I am proud to be a citizen,” Vibhu noted.

Why Real-Time On-Chain UX Finally Works On Solana
Solana continues to see key updates and integration that tend to bolster the network capabilities. Co-founder of TeamElevenX1 and Ambassador at Solflare, Kristofer_Sol, has highlighted that MagicBlock is quietly doing some of the most important work in the Solana ecosystem, pushing real-time SOL closer to true production scale. 

At the center of this shift is the deep integration of compressed accounts into the Light Protocol inside Ephemeral Rollups, reducing rent costs by up to 200 times, while still functioning like a normal account for developers. The compression demo is already live, and real applications are actively using it today. Others like Rush Trade deliver faster trades, and Pixels achieve smooth, real-time pixel updates. 

Kristofer_Sol stated that this is what a scalable on-chain user experience actually looks like. With low-cost reduction and speed improvements happening without forcing developers to rewrite everything, MagicBlock is quietly removing the friction that has held back games, social apps, and consumer products on SOL.

SOL trading at $123 on the 1D chart | Source: SOLUSDT on Tradingview.com
Featured image from Freepik, chart from Tradingview.com

Heico Corporation (HEI - Free Report) came out with quarterly earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.2 per share. This compares to earnings of $0.99 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +10.83%. A quarter ago, it was expected that this company would post earnings of $1.12 per share when it actually produced earnings of $1.26, delivering a surprise of +12.5%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Heico, which belongs to the Zacks Aerospace - Defense Equipment industry, posted revenues of $1.21 billion for the quarter ended October 2025, surpassing the Zacks Consensus Estimate by 4.99%. This compares to year-ago revenues of $1.01 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Heico shares have added about 29.1% since the beginning of the year versus the S&P 500's gain of 14.3%.

What's Next for Heico?While Heico has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Heico was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.29 on $1.15 billion in revenues for the coming quarter and $5.38 on $4.88 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense Equipment is currently in the top 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Tokyo, Japan and Cambridge, UK, 19 December 2025 – Nxera Pharma Co. Ltd (“Nxera” or “the Company; TSE 4565) today announces that Boehringer Ingelheim has informed the Company of its decision not to exercise its exclusive option to license Nxera’s GPR52 agonist program for schizophrenia, including the Phase 2 ready lead compound NXE0048149 (“NXE’149”). No further information was provided by Boehringer Ingelheim. All rights to the GPR52 portfolio will revert in full to Nxera Pharma together with all data and intellectual property generated under the collaboration in accordance with the terms of the Collaboration and License Option Agreement.

NXE’149 and other GPR52 agonists within the portfolio were designed by Nxera using its world-leading NxWave™ structure-based drug design platform to improve patient outcomes by simultaneously addressing positive, negative, and cognitive symptoms of schizophrenia.

A Phase 1 trial evaluating single and multiple ascending doses of NXE’149 demonstrated a highly favourable safety profile, with NXE’149 well tolerated in healthy participants across all dose levels. There were no severe or serious adverse events (AEs) and no AEs leading to discontinuation. Pharmacokinetic analyses showed dose-proportional exposure, equivalent free concentrations in plasma and cerebrospinal fluid at steady state, and a long half-life supporting once-daily dosing. Notably, pharmacodynamic endpoints including cognitive assessments, neurophysiological measures and peripheral biomarkers provided evidence of engagement of brain circuitry relevant to the treatment of schizophrenia and related disorders.

The expression of GPR52 in brain regions associated with positive symptoms of schizophrenia (e.g. hallucinations and delusions) and those associated with cognitive dysfunction (e.g. attention and memory deficits) and negative symptoms (e.g. social withdrawal and apathy), suggest that NXE’149 may have the potential to treat all three symptom domains of schizophrenia, unlike current therapies which only treat the positive symptoms. The benefit risk profile of NXE’149, as evidenced by the preclinical and human pharmacodynamic data, could offer patients a major new therapeutic option for their disease and support its continued clinical development.

With the program now Phase 2 ready, Nxera plans to explore strategic opportunities, including a formal out-licensing process with the intention of partnering the program with a major pharmaceutical or specialist neuroscience company in 2026.

The event reported today has no impact on Nxera’s consolidated financial results for the current accounting period. If any matters requiring disclosure are identified, the Company will announce these promptly.

Christopher Cargill, CEO and President of Nxera Pharma, commented: “Although we are disappointed that Boehringer Ingelheim has chosen not to proceed with the license option, its decision does not diminish the significant potential of the GPR52 agonist program, which has demonstrated highly encouraging attributes as a first-in-class approach to treating several major symptoms of schizophrenia and address the shortcomings of current treatment options.

“We are energised by the strong scientific and clinical foundations already established and see meaningful opportunity in regaining full rights. We look forward to updating the market as we advance discussions with potential partners next year.”

–END–

About Nxera Pharma
Nxera Pharma is a technology powered biopharma company in pursuit of new specialty medicines to improve the lives of patients with unmet needs in Japan and globally.

We have built an agile, new-generation commercial business in Japan to develop and commercialize innovative medicines, including several launched products, to address this high value, large and growing market and those in the broader APAC region.

Behind that, and powered by our unique NxWave™ discovery platform, we are advancing an extensive pipeline of over 30 active programs from discovery through to late clinical stage internally and in partnership with leading pharma and biotech companies. This pipeline of potentially first- and best-in-class candidates is focused on addressing major unmet needs in some of the fastest-growing areas of medicine across obesity and metabolic disorders, neurology/neuropsychiatry and immunology and inflammation.

Nxera employs approximately 400 talented people at key locations in Tokyo and Osaka (Japan), London and Cambridge (UK), Basel (Switzerland) and Seoul (South Korea) and is listed on the Tokyo Stock Exchange (ticker: 4565).

For more information, please visit www.nxera.life
LinkedIn: @NxeraPharma | X: @NxeraPharma | YouTube: @NxeraPharma

Enquiries:

Media and Investor Relations
Shinya Tsuzuki, VP, Head of Investor Relations
Shinichiro Nishishita, VP Investor Relations, Head of Regulatory Disclosures
Maya Bennison, Communications Manager
+81 (0)3 5962 5718 | +44 (0)1223 949390 |[email protected]

MEDiSTRAVA (for International Media)
Mark Swallow, Frazer Hall, Erica Hollingsworth
+44 (0)203 928 6900 | [email protected]

Forward-looking statements
This press release contains forward-looking statements, including statements about the discovery, development, and commercialization of products. Various risks may cause Nxera Pharma Group’s actual results to differ materially from those expressed or implied by the forward looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Coupang, Inc. (NYSE: CPNG) between August 6, 2025 and December 16, 2025, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Coupang investors under the federal securities laws. To join the Coupang class action, go to https://rosenlegal.com/submit-form/?case_id=8383 or call Phillip Kim, Esq. toll-.

Bitcoin trades near investor average price as TMMP and AVIV metrics signal measured positioning.

Filecoin (FIL) gave back earlier gains to trade around 1% lower over the past 24 hours, underperforming the broader cryptocurrency market as volatility intensified during the session. At publication time, FIL was changing hands near $1.1905, reflecting renewed selling pressure despite a modestly positive tone across major digital assets. The CoinDesk 20 index, a key gauge of the wider crypto market, was slightly higher, up 0.2% at 2,662, highlighting Filecoin’s relative weakness compared to its peers.

According to CoinDesk Research’s technical analysis model, trading activity in FIL became increasingly volatile as the session progressed. The token established a trading range of approximately $0.08, representing about 6.4% of its market value over the 24-hour period. This range-bound behavior underscored uncertainty among traders as buying and selling pressure fluctuated sharply throughout the day.

Volume data pointed to significant institutional involvement. Peak trading volume reached roughly 6.36 million FIL tokens, around 140% above the 24-hour average. This surge in activity fueled a rapid rally that pushed prices from approximately $1.22 to an intraday high near $1.26. However, bullish momentum stalled near the $1.266 level, where strong resistance emerged and capped further upside attempts.

The final hour of trading saw a dramatic reversal. After failing to break above resistance, FIL quickly retreated from the $1.266 area, triggering accelerated selling and liquidations. Prices fell sharply from around $1.261 to near $1.20 in a short span of time. The model identified large volume spikes exceeding 497,000 tokens during this move, suggesting aggressive institutional selling as the token cascaded through multiple support levels.

By the end of the session, a support zone appeared to form between $1.201 and $1.207, aligning with the lower boundary of the day’s trading range. This area may act as a short-term stabilization point if selling pressure eases. Overall, Filecoin’s price action reflects a failed breakout attempt, elevated volatility, and cautious sentiment as market participants reassess near-term direction amid broader crypto market movements.

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Polkadot (DOT) experienced a modest pullback over the past 24 hours, slipping around 2% to trade near $1.77 after briefly touching $1.7583. Despite the decline, trading activity surged significantly, pointing to heightened market interest and strong defensive buying at key price levels. According to CoinDesk Research’s technical analysis model, DOT’s trading volume jumped 35% above its 30-day average, highlighting increased participation during the session.

The most notable price movement occurred during a sharp intraday sell-off that tested critical support. DOT fell quickly from around $1.85 to a low of $1.76, with exceptional trading volume reaching approximately 8.81 million tokens. This figure represented roughly 236% above the 24-hour simple moving average, signaling unusually strong institutional and large-scale activity during the decline. Rather than triggering a prolonged breakdown, the sell-off was rapidly absorbed by buyers.

Following the dip, DOT staged a swift V-shaped recovery, rebounding back toward the $1.80 level. This rebound reinforced the importance of $1.76 as a psychological and technical support zone, suggesting that market participants are willing to accumulate DOT at these prices. The quick recovery also indicates that selling pressure was effectively absorbed, a sign often associated with stabilization or consolidation rather than continued weakness.

While Polkadot showed resilience at support, it underperformed the broader crypto market. At the time of writing, the CoinDesk 20 index was down just 0.2%, reflecting relatively mild weakness across major digital assets compared with DOT’s sharper intraday moves.

From a technical perspective, resistance remains near $1.805. A decisive move above this level would likely require fresh buying interest and sustained volume confirmation. If such momentum emerges, an upside target around $1.82 comes into view. On the downside, risk appears limited as long as DOT holds above the $1.76 support area, where strong demand has already been demonstrated.

Overall, Polkadot’s recent price action suggests a market in consolidation, with heightened volume underscoring active participation and a clear battle between buyers and sellers near the $1.80 zone.

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Crypto markets faced renewed selling pressure Thursday afternoon as bitcoin slipped below the critical $85,000 support level, triggering broad losses across major digital assets. Bitcoin fell as low as $84,500, marking its weakest level in nearly three weeks, before staging a modest rebound. The drop erased an earlier rally that briefly pushed BTC toward $89,500 and reinforced growing caution among traders.

The bitcoin price decline weighed heavily on the wider crypto market. Ether fell below the $2,800 mark, down roughly 1.1% over the past 24 hours, while Solana posted sharper losses. SOL dropped around 4% to under $120, its lowest price since April, highlighting continued weakness in high-beta altcoins during periods of market stress.

Altcoins led the downturn, significantly underperforming bitcoin. Cardano, Dogecoin, and Sui each plunged more than 5%, reflecting reduced risk appetite among investors. As volatility increased, derivatives markets saw a surge in forced liquidations. According to CoinGlass data, approximately $550 million worth of leveraged positions were wiped out over the past day, affecting both long and short traders.

Market analysts noted that the $85,000 level had acted as an important support zone in recent weeks, repeatedly attracting buyers. Analysts at crypto analytics firm AmberData described this area as crucial for bitcoin’s short-term structure, warning that a decisive break could expose BTC to a deeper correction toward the $80,000 region.

Data from perpetual futures markets also signals a risk-off environment. Funding rates for many altcoins have turned negative, meaning short sellers are paying fees to long position holders. This shift typically indicates bearish sentiment and expectations of further downside.

However, analysts emphasized that the selloff has not been accompanied by a sharp spike in trading volume. This suggests the market may be experiencing an orderly deleveraging rather than panic-driven selling. According to AmberData, the lack of heavy volume implies selling pressure may be easing as weaker hands exit, potentially setting the stage for stabilization if key support levels hold.

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CENTER VALLEY, Pa.--(BUSINESS WIRE)--Shift4 (NYSE: FOUR), a global leader in integrated payments and commerce technology, is thrilled to announce the appointment of the company's founder Jared Isaacman to serve as the 15th Administrator of the National Aeronautics and Space Administrator (NASA). Upon his confirmation, Mr. Isaacman resigned as the Executive Chairman of the company's Board of Directors. CEO Taylor Lauber has been appointed as Chairman of the Board of Directors. “We are thrilled f.

In the latest trading session, Qualcomm (QCOM - Free Report) closed at $174.19, marking a +1.07% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 1.38%.

Shares of the chipmaker have appreciated by 3.75% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.85%, and the S&P 500's gain of 0.87%.

The investment community will be paying close attention to the earnings performance of Qualcomm in its upcoming release. It is anticipated that the company will report an EPS of $3.38, marking a 0.88% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $12.25 billion, up 4.99% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.15 per share and revenue of $45.69 billion. These totals would mark changes of +1% and +3.52%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Qualcomm. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Qualcomm is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Qualcomm is currently exchanging hands at a Forward P/E ratio of 14.19. This indicates a discount in contrast to its industry's Forward P/E of 32.69.

Investors should also note that QCOM has a PEG ratio of 3.09 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Electronics - Semiconductors was holding an average PEG ratio of 1.83 at yesterday's closing price.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 31% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

In the latest close session, Pinterest (PINS - Free Report) was up +1.39% at $26.24. The stock's performance was ahead of the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 1.38%.

The stock of digital pinboard and shopping tool company has risen by 1.53% in the past month, leading the Computer and Technology sector's loss of 0.85% and the S&P 500's gain of 0.87%.

Market participants will be closely following the financial results of Pinterest in its upcoming release. The company's upcoming EPS is projected at $0.68, signifying a 21.43% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.33 billion, indicating a 15.15% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $1.62 per share and a revenue of $4.23 billion, demonstrating changes of +25.58% and +16.12%, respectively, from the preceding year.

Any recent changes to analyst estimates for Pinterest should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.47% decrease. Pinterest currently has a Zacks Rank of #4 (Sell).

Looking at its valuation, Pinterest is holding a Forward P/E ratio of 15.93. This valuation marks a discount compared to its industry average Forward P/E of 28.76.

It's also important to note that PINS currently trades at a PEG ratio of 0.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.87.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 25% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

In the latest close session, Altria (MO - Free Report) was down 1.33% at $58.39. This change lagged the S&P 500's 0.79% gain on the day. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 1.38%.

The stock of owner of Philip Morris USA, the nation's largest cigarette maker has risen by 0.97% in the past month, lagging the Consumer Staples sector's gain of 2.5% and overreaching the S&P 500's gain of 0.87%.

The upcoming earnings release of Altria will be of great interest to investors. It is anticipated that the company will report an EPS of $1.3, marking a 0.78% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.03 billion, down 1.48% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $5.44 per share and a revenue of $20.1 billion, demonstrating changes of +6.25% and -1.66%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for Altria. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Altria holds a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Altria has a Forward P/E ratio of 10.88 right now. This valuation marks a discount compared to its industry average Forward P/E of 12.56.

We can additionally observe that MO currently boasts a PEG ratio of 3.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Tobacco industry had an average PEG ratio of 2.91.

The Tobacco industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 34, finds itself in the top 14% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Robinhood Markets, Inc. (HOOD - Free Report) closed at $117.16 in the latest trading session, marking a +1.17% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 1.38%.

Prior to today's trading, shares of the company had lost 2% lagged the Finance sector's gain of 4.09% and the S&P 500's gain of 0.87%.

Market participants will be closely following the financial results of Robinhood Markets, Inc. in its upcoming release. On that day, Robinhood Markets, Inc. is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 5.56%. Alongside, our most recent consensus estimate is anticipating revenue of $1.28 billion, indicating a 26.45% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $1.96 per share and revenue of $4.46 billion, which would represent changes of +79.82% and +51.19%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Robinhood Markets, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.51% rise in the Zacks Consensus EPS estimate. Right now, Robinhood Markets, Inc. possesses a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that Robinhood Markets, Inc. has a Forward P/E ratio of 59.13 right now. Its industry sports an average Forward P/E of 17.85, so one might conclude that Robinhood Markets, Inc. is trading at a premium comparatively.

Meanwhile, HOOD's PEG ratio is currently 2.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Financial - Investment Bank industry had an average PEG ratio of 1.07 as trading concluded yesterday.

The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 29, positioning it in the top 12% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

CleanSpark (CLSK - Free Report) ended the recent trading session at $11.20, demonstrating a -2.44% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 1.38%.

The company's shares have seen an increase of 12.33% over the last month, surpassing the Finance sector's gain of 4.09% and the S&P 500's gain of 0.87%.

The investment community will be paying close attention to the earnings performance of CleanSpark in its upcoming release. The company's upcoming EPS is projected at -$0.07, signifying steadiness compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $197.93 million, indicating a 21.94% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.26 per share and revenue of $858.9 million, which would represent changes of -63.38% and +12.08%, respectively, from the prior year.

Any recent changes to analyst estimates for CleanSpark should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 66.84% decrease. CleanSpark is currently sporting a Zacks Rank of #4 (Sell).

Digging into valuation, CleanSpark currently has a Forward P/E ratio of 44.84. This signifies a premium in comparison to the average Forward P/E of 12.24 for its industry.

The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 32% of over 250 industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CLSK in the coming trading sessions, be sure to utilize Zacks.com.

Chipotle Mexican Grill (CMG - Free Report) closed the most recent trading day at $37.63, moving +1.69% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.79%. On the other hand, the Dow registered a gain of 0.14%, and the technology-centric Nasdaq increased by 1.38%.

The Mexican food chain's stock has climbed by 19.35% in the past month, exceeding the Retail-Wholesale sector's gain of 0.48% and the S&P 500's gain of 0.87%.

The investment community will be paying close attention to the earnings performance of Chipotle Mexican Grill in its upcoming release. The company is slated to reveal its earnings on February 3, 2026. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 4% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.98 billion, indicating a 4.91% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $1.16 per share and revenue of $11.94 billion, which would represent changes of +3.57% and +5.51%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Chipotle Mexican Grill. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% decrease. Chipotle Mexican Grill is currently sporting a Zacks Rank of #4 (Sell).

Looking at its valuation, Chipotle Mexican Grill is holding a Forward P/E ratio of 31.87. Its industry sports an average Forward P/E of 21.14, so one might conclude that Chipotle Mexican Grill is trading at a premium comparatively.

We can also see that CMG currently has a PEG ratio of 3.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Retail - Restaurants industry held an average PEG ratio of 2.36.

The Retail - Restaurants industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 182, placing it within the bottom 27% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

In the latest trading session, Verizon Communications (VZ - Free Report) closed at $40.41, marking a -1.15% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.79%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 1.38%.

Prior to today's trading, shares of the largest U.S. cellphone carrier had lost 0.75% was narrower than the Computer and Technology sector's loss of 0.85% and lagged the S&P 500's gain of 0.87%.

The upcoming earnings release of Verizon Communications will be of great interest to investors. It is anticipated that the company will report an EPS of $1.06, marking a 3.64% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $35.92 billion, indicating a 0.66% growth compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.69 per share and a revenue of $137.87 billion, representing changes of +2.18% and +2.29%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Verizon Communications. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.13% downward. Verizon Communications is currently a Zacks Rank #3 (Hold).

From a valuation perspective, Verizon Communications is currently exchanging hands at a Forward P/E ratio of 8.72. This signifies a discount in comparison to the average Forward P/E of 18.33 for its industry.

We can also see that VZ currently has a PEG ratio of 3.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Wireless National industry held an average PEG ratio of 1.43.

The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $16.21, marking a -1.1% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.79%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 1.38%.

The energy-related services provider's shares have seen a decrease of 3.13% over the last month, not keeping up with the Oils-Energy sector's loss of 2.2% and the S&P 500's gain of 0.87%.

Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. It is anticipated that the company will report an EPS of $0.36, marking a 24.14% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $26.11 billion, reflecting a 33.63% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.33 per share and a revenue of $86.33 billion, signifying shifts of +3.91% and +4.42%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.48% lower within the past month. Currently, Energy Transfer LP is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 12.3 right now. For comparison, its industry has an average Forward P/E of 12.24, which means Energy Transfer LP is trading at a premium to the group.

It's also important to note that ET currently trades at a PEG ratio of 0.99. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 99, putting it in the top 41% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

The U.S. Securities and Exchange Commission has charged Danh C. Vo, founder and CEO of bitcoin mining company VBit Technologies Corp., with defrauding investors out of $48.5 million. 

According to the SEC, Vo misused the funds for gambling, cryptocurrency purchases, and gifts to family members, while misleading investors about the operations of his business.

The complaint, filed in the U.S. District Court for the District of Delaware, alleges Vo raised over $95.6 million from approximately 6,400 investors between December 2018 and February 2022. 

He sold “hosting agreements,” which promised investors a share of profits from bitcoin mining rigs operated by VBit. Most customers chose this passive investment option rather than purchasing rigs themselves.

Vo misrepresented how many mining rigs were actually operational, effectively selling more hosting agreements than the company could support. 

“While some investors received returns, others suffered substantial losses,” the complaint stated. Vo either knew or was reckless in not knowing that the company could not meet the obligations tied to the hosting agreements.

Vo, 37, exercised complete authority over VBit, including its promotional materials, website content, and investor account information. 

The SEC said the hosting agreements qualify as securities because investors relied on Vo and VBit’s efforts to generate profits.

SEC: Family members received misappropriated funds In addition to the misappropriation, Vo allegedly transferred $5 million to family members, including his ex-wife, mother, brother, and sister, the commission said. He reportedly left the U.S. with the remaining misappropriated funds following his divorce in November 2021. 

Several family members are named as relief defendants in the lawsuit and have consented to disgorge the funds they received, pending court approval, per the SEC.

VBit was acquired by Advanced Mining Group in 2022 and is now defunct. The action seeks disgorgement of ill-gotten gains, civil penalties, and a ban on Vo from participating in future securities offerings.

The lawsuit also comes as Congress debates federal measures to address cryptocurrency scams. A bipartisan proposal would create a dedicated task force to identify and address fraud in the digital asset sector.

The SEC said they want Vo’s alleged conduct to be a reminder that investors should carefully evaluate claims of passive income from crypto and confirm that operations are transparent and verifiable.

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

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A long-dormant Shiba Inu wallet that on-chain watchers have tracked since the meme coin’s early days just pinged the market again — this time by sending a chunky clip of SHIB to an exchange.

According to posts from on-chain analyst 余烬 (@EmberCN), the address moved roughly 469 billion SHIB (about $3.64 million) into OKX roughly nine hours before the post hit X on Dec. 18, 2025.

Shiba Inu top whale transactions | Source: X @EmberCN
Mega Whale Stuns Shiba Inu Community
In 2020, the “top whale” who bought 1.03 trillion $SHIB (17.4% of the total supply) using only 37.8 ETH ($13.7K), transferred 469 billion SHIB ($3.64 million) into #OKX 9 hours ago,” EmberCN wrote.

That “top whale” label is doing a lot of work here. The wallet is known for an almost absurd entry: buying roughly 103 trillion SHIB back in 2020 for just 37.8 ETH. Then the 2021 mania happened. At the cycle peak, that stake would have been worth around $9.1 billion. And the whale, famously, didn’t cash most of it.

EmberCN says the address still controls about 96.684 trillion SHIB, or roughly 16.4% of total supply, valued around $722–$726 million depending on the price snapshot used. “At the 2021 price peak, his 1.03 trillion SHIB was worth $9.1 billion. He has not sold the vast majority of these coins yet, and currently still holds up to 96.684 trillion SHIB (16.4% of the total supply), worth $726 million,” @EmberCN explained.

Shiba Inu top whale holdings | Source: X @EmberCN
The reason traders care about “to OKX” is obvious: deposits to exchanges can be a prelude to selling, collateralizing, or rotating into something else. Still, a deposit is not a sale. Overall, it’s unclear whether the SHIB has been dumped yet.

Zoom out and it’s not the first time the wallet has stirred. EmberCN previously flagged activity in July 2023, describing transfers of 1.5 trillion SHIB split across three addresses (500 billion each) after a long dormant stretch.

On July 12, already alerted the Shiba Inu community when he posted: “After being dormant for 610 days, he made another move: 4 hours ago, he transferred 1.5 trillion SHIB to 3 addresses, with 500 billion SHIB ($3.75M) to each address. He bought 1.03 quadrillion $SHIB, and only sold 1.9 trillion SHIB ($18.79M) in 2021 at a price of 0.0000098. The remaining 1.01 quadrillion (17.2% of the total SHIB supply) is distributed across 17 addresses and held to this day, with a current total value of $760 million.”

So, is this “the” sell signal? Maybe. Maybe not. But when an entity sitting on 16.4% of supply starts routing size toward an exchange again, the market tends to stop scrolling.

At press time, SHIB was down 3.9% over the past 24 hours, more or less tracking the broader market wide pullback in the same window. On the chart, it’s not pretty: the current weekly candle has broken below a key support zone around $0.00000790.

That puts the Oct. 10 low at $0.00000680 back in play as the next obvious downside check. If that level gives way, traders will likely start eyeing the June 2023 low near $0.00000543 as the next major reference point.

SHIB falls below key support, 1-week chart | Source: SHIBUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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