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The stage for the final leg of horse racing’s Triple Crown race is set.

Although there won’t be a Triple Crown winner in 2025, the 2025 Belmont Stakes will still be a highly-anticipated attraction with the rematch for the first jewels of the sport’s premier races. After not running in the Preakness Stakes, 2025 Kentucky Derby winner Sovereignty makes his return to the track and faces Journalism, the winner of the Preakness. The two went down to the wire at Churchill Downs and they’ll meet again for another chance of glory.

The race will still be held at Saratoga Race Course as Belmont Park is still undergoing renovations, and as a result, the race will be contested at 1 ¼-mile instead of the traditional 1 ½-mile distance. Journalism and Sovereignty are the favorites, but could another thoroughbred spoil the rematch and take the title in New York?

2025 Belmont Stakes post positions

Here’s where each horse landed, as well as its trainer, jockey and current odds:

  1. Hill Road
    • Trainer: Chad Brown
    • Jockey: Irad Ortiz Jr.
    • Odds: 10-1
  2. Sovereignty
    • Trainer: Bill Mott
    • Jockey: Junior Alvarado
    • Odds: 2-1
  3. Rodriguez
    • Trainer: Bob Baffert
    • Jockey: Mike Smith
    • Odds: 6-1
  4. Uncaged
    • Trainer: Todd Pletcher
    • Jockey: Luis Saez
    • Odds: 30-1
  5. Crudo
    • Trainer: Todd Pletcher
    • Jockey: John Velazquez
    • Odds: 15-1
  6. Baeza
    • Trainer: John Shirreffs
    • Jockey: Flavien Prat
    • Odds: 4-1
  7. Journalism
    • Trainer: Michael McCarthy
    • Jockey: Umberto Rispoli
    • Odds: 8-5
  8. Heart of Honor
    • Trainer: Jamie Osborne
    • Jockey: Saffie Osborne
    • Odds: 30-1

When is the Belmont Stakes 2025?

The 157th running of the Belmont Stakes will be held Saturday, June 7. Post time is 6:50 p.m. ET.

  • Date: Saturday, June 7, 2025
  • Time: 6:50 p.m. ET
  • TV: Fox
  • Stream: Fubo (free trial)
  • Location: Saratoga Race Course (Saratoga Springs, New York)

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Detroit Lions center Frank Ragnow announced his retirement from the NFL after seven seasons on Monday. The 29-year-old enjoyed a quality career during which he was voted to the Pro Bowl four times and was thrice named an All-Pro second-teamer.

That said, many NFL fans will remember Ragnow for a gruesome-sounding injury he played through during the 2020 NFL season.

In the Lions’ Week 14 game against the Green Bay Packers, Ragnow suffered a fractured throat bone, an uncommon injury often associated with trauma from strangulation, according to the Journal of Maxillofacial and Oral Surgery.

Ragnow did not leave the game because of the injury. He played all 67 offensive snaps for the Lions before missing the next two games due to the injury.

How Frank Ragnow played through fractured throat

Upon returning to the sidelines, Ragnow realized his voice sounded different. He compared it to the sound a dog toy makes when its squeaker is broken.

Nonetheless, Ragnow’s airway was unobstructed, which allowed him to play the rest of the game. There was just one issue: he was unable to talk and couldn’t make calls at the line of scrimmage.

As such, Ragnow relied on starting guards Oday Aboushi and Jonah Jackson to help him communicate adjustments at the line of scrimmage. He also delivered a message to then-Lions quarterback Matthew Stafford to make sure Detroit’s offense would continue to operate smoothly as he struggled to speak.

‘He came up to me early in the game and was very hoarse and kind of faint sounding and was like, ‘I can’t really talk right now. I can’t really talk, just to let you know. Just make sure you’re communicating with everybody up front even more so than (you) normally would,” Stafford told the Detroit Free Press. ‘So it was kind of crazy, but it was good. Didn’t have any communication issues the rest of the game, really.’

Ragnow helped the Lions remain competitive against the Packers, but Detroit still ended up losing the game 31-24.

Ragnow and the Lions realized the full extent of his injury after the game. The fracture didn’t require surgery, but the offensive lineman had to rest his voice to ensure his vocal cords would make a full recovery.

‘When you see the vocal cords and see how I guess bruised up they are, it’s just something that was very alarming, for sure,’ Ragnow explained.

Ragnow was able to bounce back quickly from the injury. He was able to play all 58 of Detroit’s offensive snaps in its final regular-season game just three weeks after suffering the fracture.

That said, he acknowledged his voice wasn’t fully back at the time and it was difficult to remain quiet while the injury healed.

‘You definitely get a whole new perspective on just kind of taking everything in,’ Ragnow said of his recovery. ‘But I guess it was good that if I ever did try to talk, my voice did not sound well so that very much urged me to stop talking, so that was the good part of it. But it’s definitely a unique perspective and it’s definitely something I don’t wish upon anyone, that’s for sure.’

Ragnow did not experience any further throat injuries during his NFL career. However, he was frequently banged up, dealing with foot, toe, knee, ankle, back and groin injuries over his seven seasons.

Ragnow acknowledged those injuries took a toll on him and influenced his decision to retire at the age of 29.

‘I’ve tried to convince myself that I’m feeling good but I’m not and it’s time to prioritize my health and my families future,’ Ragnow wrote in a statement announcing his retirement. ‘I have given this team everything I have and I thought I had more to give, but the reality is I simply don’t. I have to listen to my body and this has been one of the hardest decisions of my life.’

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Oklahoma softball nearly pulled off another late, magical moment against Texas Tech on Monday in the WCWS semifinals. The Red Raiders had other plans, though.

Down to their final strike in the top of the seventh inning, Sooners 9-hole hitter Abigale Dayton launched a game-tying two-run home run to even the score at 2-2. The moment was similar to Ella Parker’s walk-off home run against Tennessee in the opening round of the WCWS, showing the Sooners’ fight down the stretch.

Texas Tech ace NiJaree Canady, who has pitched in every game for the Red Raiders during the NCAA tournament, was phenomenal as always, allowing two runs on five hits with eight strikeouts across seven innings of work. Canady’s performance subsequently ended Oklahoma’s streak of four consecutive national titles, one of the most dominant stretches in college sports history.

Now, Texas Tech looks forward to facing Texas in the national championship series, where one program will come away with its first national title in softball.

Here are the highlights from Texas Tech’s semifinal win over Oklahoma in the WCWS:

Oklahoma vs Texas Tech softball live score

Oklahoma vs Texas Tech softball live updates

Texas Tech walks it off

Texas Tech walks it off, as Lauren Allred’s flyout is deep enough to score Davis from third base.

The Red Raiders are heading to the national championship game, and end Oklahoma’s four-year national title streak in the process. What a game to set up Texas-Texas Tech for all the marbles.

Texas Tech doubles to put runners on second and third

Texas Tech’s Mihyia Davis ropes a single, before Hailey Toney nearly homers, but hits a double off the left-field wall to put runners on second and third with one out.

Red Raiders’ winning run is 60 feet from scoring.

Oklahoma ties it with clutch home run

Wow. Down to its final strike, Oklahoma 9-hole hitter Abigale Dayton launches a two-run home run to right field to tie the game at 2-2 in the top of the seventh inning.

What a moment. The Sooners just don’t go down without a fight. That was only Dayton’s third home run of the season.

Sydney Barker picks up 3rd hit of game

Sydney Barker hits a bloop single with one out, picking up her third hit of the game. Barker has three of the Sooners’ four hits against Texas Tech, bringing the tying run to the plate in the top of the seventh inning.

Oklahoma on verge of first shutout since 2019

Oklahoma hasn’t been shutout in a game since losing to Alabama 1-0 in 2019. The Sooners are on the verge of losing that streak against one of the game’s all-time great pitchers in NiJaree Canady here.

Texas Tech 3 outs from national championship berth

Ella Parker hits a leadoff single, but Canady forces a flyout and strikes out two to get out of the sixth inning.

Oklahoma is down to its final three outs and is close to missing out on a national title berth for the first time since 2018.

Ella Parker with leadoff single

Ella Parker ropes a leadoff single into center field, giving the Sooners a baserunner with no outs for 3-hole hitter Gabbie Garcia.

Nice start to the inning for Oklahoma.

Sam Landry gets inning-ending double play

Sam Landry gets NiJaree Canady to groundout into a 6-4-3 double play to end the fifth inning, which fired up the Sooners a bit. Can that give Oklahoma some momentum offensively?

Landry has now thrown over 400 pitches at the WCWS.

NiJaree Canady works around leadoff single

Canady puts up another zero, but Oklahoma had a couple nice swings in the top of the fifth inning. Sydney Barker, who has both of the Sooners’ hits, hit a leadoff single before Abigaile Dayton flied out to the warning track in deep left field.

Oklahoma down to its final six outs.

Lauren Allred gets Texas Tech out of inning

NiJaree Canady’s dominance continues, but it’s first baseman Lauren Allred who fields a groundball and dives to first base to get an out to end end the inning.

Texas Tech still leads 2-0, as Oklahoma’s offense continues to struggle against Canady.

Sam Landry puts up zero

Landry works around a walk but forces a pair of flyouts and a groundout to get out of the bottom of the third inning. Texas Tech still leads 2-0 as Oklahoma’s bats head to the plate.

Oklahoma goes 1-2-3

NiJaree Canady continues her dominance, retiring the Sooners in order to start the third inning. Canady is up to four strikeouts so far, with her strikeout against Ella Parker marking her whopping 300th of the year.

Texas Tech still leads 2-0.

Patrick Mahomes watching Texas Tech softball

Three-time Super Bowl champion Patrick Mahomes is tuned into Texas Tech softball, as he mentioned the team in a post on X during the game. Mahomes played quarterback at Texas Tech and also was drafted to MLB out of high school.

Texas Tech scores again

Bailey Lindemuth singles to center field, scoring Demi Elder from third base to give Texas Tech a 2-0 lead.

A two-run lead for NiJaree Canady has Texas Tech feeling good heading into the third inning.

Sam Landry honors Gerry Glasco’s daughter

Sam Landry, who played under Texas Tech coach Gerry Glasco at Louisiana, has ‘Geri Ann,’ Glasco’s daughter’s name, stitched on her glove.

Texas Tech takes 1-0 lead

Sam Landry walks Alana Johnson, who later scores from first after Demi Elder triples down the left-field line. That ball was smoked by Elder.

Oklahoma definitely doesn’t want to get down 2-0 against NiJaree Canady here.

Canady escapes jam

Oklahoma’s Isabela Emerling ropes a line drive, but it’s straight at Texas Tech shortstop Hailey Toney to end the inning. The Sooners fall short on the scoring chance.

Oklahoma puts runners on first and third

Cydney Sanders draws a walk before freshman Sydney Barker bloops a single into left field to put runners on first and third for Oklahoma with two outs.

Sooners with a chance at scoring a run on NiJaree Canady here.

Landry escapes first inning

Sam Landry needs 28 pitches to get out of the first inning but works around a walk to put up a zero. Oklahoma-Texas Tech tied at 1-1 through one inning.

Sam Landry connections to Texas Tech

Oklahoma pitcher Sam Landry, a first-team All-American in 2025, has plenty of connections to Texas Tech due to her time at Louisiana. Landry played for Red Raiders coach Gerry Glasco when Glasco was at Louisiana and has five former teammates on Texas Tech’s roster.

Mihyia Davis, Chloe Riassetto, Lauren Allred, Victoria Valdez and Alexa Langeliers all joined Glasco from Louisiana after Glasco was hired prior to the 2025 season.

Canady retires Oklahoma in order

The Sooners go down in order to start the first inning, as NiJaree Canady strikes out Kasidi Pickering and Gabbie Garcia.

Canady’s arsenal looks electric so far.

Canady fires a strike and we’re underway

NiJaree Canady fires a strike for Texas Tech, the home team, and we’re underway. A pair of first-team All-Americans start off the semifinal, as Canady faces Oklahoma leadoff hitter Kasidi Pickering.

NiJaree Canady starting for Texas Tech

NiJaree Canady, the former national player of the year, is getting the start for Texas Tech in the circle. Canady has started every game for the Red Raiders during their NCAA tournament run and leads the nation with a 0.86 ERA.

Texas Tech softball lineup vs Oklahoma

  1. CF Mihyia Davis
  2. SS Hailey Toney
  3. 1B Lauren Allred
  4. P NiJaree Canady
  5. 2B Alexa Langeliers
  6. RF Alana Johnson
  7. LF Demi Elder
  8. C Victoria Valdez
  9. 3B Bailey Lindemuth

Oklahoma softball lineup vs Texas Tech

  1. LF Kasidi Pickering
  2. DP Ella Parker
  3. SS Gabbie Garcia
  4. 3B Nelly McEnroe-Marinas
  5. 1B Cydney Sanders
  6. 2B Ailani Agbayani
  7. RF Sydney Barker
  8. C Isabela Emerling
  9. CF Abigale Dayton

Right-hander Sam Landry is in the circle for the Sooners.

What time does Oklahoma vs Texas Tech softball start?

  • Time: 7 p.m. ET
  • Date: Monday, June 2
  • Location: Devon Park (Oklahoma City)

Oklahoma-Texas Tech softball is set for a 7 p.m. ET first pitch on Monday night. If Oklahoma wins and forces an if-necessary game, the two teams will immediately play again, which is currently scheduled for 8:30 p.m. ET.

What TV channel is Oklahoma vs Texas Tech softball on today?

  • TV channel: ESPN
  • Streaming: ESPN app, ESPN+
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The MLB world was shocked when Houston Astros’ pitcher Lance McCullers received death threats online following a start he’d made against the Cincinnati Reds on May 10.

McCullers was making his second start after a 2.5-year absence from Major League Baseball, recovering from major arm surgery, and did not perform well. He gave up seven runs in the first inning. The Astros ultimately lost that game, 13-9.

McCullers claimed that he received the messages after the game, threatening to ‘find [his] kids and murder them.’

‘I understand people are very passionate and people love the Astros and love sports, but threatening to find my kids and murder them is a little bit tough to deal with,’ McCullers told reporters. The Astros granted McCullers and his family 24-hour security, and finally, the man behind the threats has been discovered.

The spokesperson did add that the man has since relayed an apology to McCullers and his family. Charges are still being considered and the case remains open.

Noticeable uptick in death threats to MLB players

‘I think over the last few years it’s definitely increased,’ Milwaukee’s Christian Yelich said, via ESPN, in reference to the threats he’s received. ‘It’s increased to the point that you’re just, ‘All right, here we go.’ It doesn’t even really register on your radar anymore. I don’t know if that’s a good or a bad thing. You’re just so used to that on a day-to-day, night-to-night basis. It’s not just me. It’s everybody in here, based on performance.’

Just last month, Boston Red Sox reliever Liam Hendriks revealed that he’d also received such threats. ‘Threats against my life and my wife’s life are horrible and cruel,’ said Hendriks. ‘Comments telling me to commit suicide and how you wish I died from cancer is disgusting and vile. Maybe you should take a step back and re-evaluate your life’s purpose before hiding behind a screen attacking players and their families.’

Sports betting’s impact on threats

In an interview with ESPN, head of integrity services and athlete well-being for MLB partner Sportradar, said that while the popularization of sports betting has certainly played a factor, these messages have been coming to athletes since long before gambling became so widespread.

‘It is broader than just sports betting,’ Brown claims. ‘Yes, sports betting is a factor, but we see it in all forms, whether racism, transphobia, doping, geopolitical, misogyny. The abuse is insane.’

Sports gambling is currently legal in 38 states in the U.S., with 30 states enabling gambling from a person’s mobile phone. Keep in mind though, the person who sent the threats to McCullers was located overseas.

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With Caitlin Clark still out with an injury, and other players on the roster getting banged up, the Indiana Fever have added a guard to help.

Indiana signed Aari McDonald Monday via an emergency hardship exception. The exception allows any WNBA team to sign a player immediately if it has less than 10 game-eligible players available at any time during the season.

The signing comes as Clark remains sidelined due to a left quadriceps strain that was announced following the loss to the New York Liberty on May 25. The 2024 WNBA rookie of the year will miss at least two weeks with her first possible game back on June 10 at the Atlanta Dream.

Clark isn’t the only injured player the Fever have. Sophie Cunningham and Sydney Colson were injured in the team’s loss to Connecticut Sun on Friday, leaving Kelsey Mitchell and Lexie Hull as the only healthy point guards for Indiana, paving the way for the Fever to sign McDonald.

“When I got the call I was very excited, very blessed,’ McDonald said Monday. ‘It’s a humbling experience to join a team like the Fever, and I’m excited, ready to compete and just win.”

Indiana is 2-4 on the season and is on a three-game losing streak.

What to know about Aari McDonald

McDonald burst onto the scene as a member of the Arizona Wildcats after starting her college career at Washington. She had a memorable senior season in Tucson as she was named Pac-12 player of the year and led Arizona to its first Final Four appearance in the 2021 NCAA Tournament. The Wildcats advanced to the national championship and lost by one-point to Stanford.

She was drafted third overall in the 2021 WNBA Draft by the Atlanta Dream and was named to the WNBA All-Rookie Team in her first season. McDonald played three seasons in Atlanta before she was traded to the Los Angeles Sparks prior to the 2024 season. She played in 26 games for Los Angeles and was released by the team before the start of the 2025 season.

In four years in the league, McDonald has averaged 8.6 points, 2.8 assists and 2 rebounds per game.

When do the Indiana Fever play next?

The Indiana Fever host the Washington Mystics on Tuesday at 7 p.m. ET at Gainbridge Fieldhouse in Indianapolis.

The game will be televised on NBA TV and can be streamed on WNBA League Pass.

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Byron Allen is putting his broadcast TV stations up for sale.

Allen Media Group said on Monday it has retained investment bank Moelis & Co. to sell its group of 28 owned and operated broadcast TV stations, which are affiliated with ABC, NBC, CBS and Fox in 21 markets across the U.S.

In a news release, Allen said the company has invested more than $1 billion into acquiring the stations over the past six years and after receiving “numerous inquiries and written offers” for most of the stations, has decided to explore a sale.

The Allen Media Group stations join others that have recently hit the sale block. Last year, CNBC reported that Sinclair was exploring the sale of more than 30% of its stations. Apollo Global Management is also reportedly exploring a sale of its Cox Media Group portfolio of TV and radio stations.

Allen Media Group said a sale of the stations would significantly reduce its debt load. Earlier this year, the company refinanced a $100 million debt facility. While S&P Global Ratings said it expected the company to maintain sufficient liquidity over the next 12 months, it noted that Allen Media Group still maintained a junk rating and faced future debt risks.

Last year, CNBC reported that Allen Media Group had been consistently late in making payments to its network owners, in some cases as much as 90 days past due, with the payments totaling tens of millions of dollars throughout the year. The reason for the lateness had been unclear, and representatives for Allen Media Group declined to address the details of CNBC’s reporting.

The stations have also reportedly undergone layoffs.

Allen, a former comedian, founded Entertainment Studios, now known as Allen Media Group, in the early 1990s. He later formed Allen Media Group Broadcasting in 2019 and has built up his profile and business ever since with a string of smaller deals.

He has also become known for expressing interest in buying various media assets to bulk up his media empire. In recent years, he has made a $30 billion bid for Paramount Global when it was up for sale in 2024, as well as a $10 billion offer for ABC and other Disney networks, and he reportedly offered $3.5 billion for Paramount’s BET Media Group.

Disclosure: Comcast’s NBCUniversal is the parent company of CNBC and broadcast network NBC.

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Harmony Gold Mining Company’s (NYSE:HMY,JSE:HAR) wholly owned Australian subsidiary, Harmony Gold (Australia), has entered into a binding agreement to acquire MAC Copper (NYSE:MTAL,ASX:MAC).

MAC is the owner of the CSA copper mine in New South Wales. Its annual production comes to approximately 40,000 metric tons of copper, with 2024 output totaling 41,000 metric tons of the red metal.

The transaction is priced at US$12.12 per MAC share in cash, implying a total equity value of US$1.03 billion for MAC.

“(This acquisition) is significant as it introduces a high-quality, established underground producing copper asset to the Harmony portfolio,” said Harmony Gold CEO Beyers Nel in a Tuesday (May 27) press release.

“The operation is a logical fit with the portfolio given it meets Harmony’s core investment criteria, including increasing free cash flow generation while improving margins at long-term expected commodity prices.”

Located 700 kilometers west-northwest of Sydney in the Cobar region, CSA has a history that stretches back at least 150 years. Its reserve life stands at over 12 years, and it has maintained a stable resource over the last decade.

Harmony believes CSA will be a valuable addition to its sole Australian asset, Eva, in Northwest Queensland. Harmony acquired Eva in December 2022, and believes it is set to become the state’s biggest copper mine.

According to the company, Eva and CSA could together boost its copper production on the east coast of Australia to 100,000 metric tons annually over the course of the next five years.

The transaction remains subject to certain conditions, but MAC’s board has unanimously recommended that shareholders vote in favor of the scheme. Should everything follow to schedule, the deal is expected to close in Q4.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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Canada’s mining sector is gaining momentum, with over 130 projects with a total value of C$117.1 billion now planned or in construction, according to Natural Resources Canada’s 2024 inventory. That’s an increase of nine projects and C$23.5 billion from the previous year, signaling strong interest in resource development.

Yet despite this growth, the path to production remains slow. A study published in FACETS and cited by the Mining Association of Canada shows that the average timeline from discovery to production exceeds 17 years, highlighting the pressing need to streamline Canada’s complex and often lengthy permitting process.

Although miners, explorers and developers have long criticized the decades-long process, Canada’s federal and provincial governments have only recently begun working to expedite the process in an effort to harness the country’s vast critical minerals potential and assert the nation’s dominance in resource extraction.

The federal government has committed to expediting and streamlining the permitting process, laying out ambitious targets in its 2024 budget. Those goals include completing federal impact assessments and permitting for designated mining projects within five years, and within two years for non-designated projects.

Achieving these targets will involve establishing a federal mining permitting coordinator, enhancing funding for federal review authorities and promoting concurrent regulatory reviews to reduce duplication and delays

Provincial governments also play a significant role in mining project approvals.

A May 2025 report from the Mining Association of BC, outlines the economic potential of 27 advanced-stage mining projects in the province totaling more than C$90 billion. The projects highlighted in the report are described as new; however, there are several past-producing assets that are being offered a new lease on life.

One of those projects is Blue Lagoon Resources’ (CSE:BLLG,OTCQB:BLAGF) Dome Mountain gold project.

Located 50 minutes from Smithers, the 22,000 hectare property hosts the historic Dome Mountain mine, where past exploration and development were focused on the Boulder Vein, initially discovered in the 1980s.

In February, Blue Lagoon secured the final permit needed to advance its Dome Mountain project, clearing the way for production to begin in Q3 2025. The permit — one of just nine mining permits granted in BC since 2015 — marks a significant milestone for the junior miner, and positions the company to transition from an explorer to a gold and silver miner.

The path to production at Dome Mountain

Although Dome Mountain was in production between 1980 and 1993 under different management, securing permits to restart activity at the 30 year old brownfield proved as complex as starting up a greenfield project.

“It wasn’t easy at all,” said Vig. “They say that it takes over 15 years to get a mine permit in BC, and people are congratulating us that we got it in just under five. And personally, I thought it was four years too late.”

He went on to note, “Imagine being in any business that you have to wait. You know, you open up your restaurant, but then you have to wait for five years to open it. I mean, it’s incredibly difficult to get a mining permit”

Indeed, BC has one of Canada’s longest permitting processes. A 2019 report from Resource World notes that it takes six months on average to get an exploration permit in Canada. However, in BC, it can take 15 to18 months.

National and provincial critical minerals strategies have been established over the last six years, and parties on both sides of the aisle have promised policy reforms. But Vig underscored the challenges that remain.

“I think we want to believe that,” he said of the notion that the permitting process will be expedited through the critical minerals push. “I think the politicians are certainly saying that, but I’m not so confident that the execution can be there,” he continued. “Because, you know, you’ve got many factors. You’ve got the infrastructure of the government itself, the bureaucracy. There are only so many people that are able to process these applications.”

Indigenous consultation and permitting with purpose

A key requirement in the permitting process is Indigenous community consultation, engagement and approval, an area provincial governments have struggled to seamlessly integrate into the process.

For Blue Lagoon, communication and consultation with the Lake Babine Nation started early and remains a key tenet.

The Lake Babine Nation is one of BC’s largest Indigenous communities, with over 2,500 registered members. Its traditional territory surrounds Babine Lake, the province’s longest natural lake.

“We have a great relationship with the Lake Babine Nation,” said Vig. “You know, honestly, it was a very simple process. It’s a philosophy, that is very rudimentary, certainly in my culture.” Vig, who is of Indian heritage, moved to Canada in 1972 with his family, credits those formative years for fostering his deep sense of respect.

“My whole upbringing is all about respect. So for us, it was very simple — respect the people, respect the land,” he said, adding that a lot of it was common sense. “Protect the water, protect the land and make sure you don’t damage it as you go along (are) good practices (for) any business,” Vig emphasized.

Water conservation and protection is especially important to Blue Lagoon, an issue Vig described as “a way of life” due to its significance for fishing and cultural practices.

‘You don’t wait to be asked — you take the initiative to understand what matters most,” he said.

As he explained, provincial regulatory requirements called for water testing at five sites along a specific stream, and Blue Lagoon chose to conduct testing at nine locations instead.

“It’s really unheard of in our industry, to the best of my knowledge. We didn’t just do what was required of us. We like to go above and beyond to make sure. And when you do things like that, I think the sincerity comes across,” he said.

Financing in a tough market

Another challenge junior miners are facing is accessing funding. Investors who once used added liquidity to the space have moved to other sectors like tech, leaving mining coffers on the decline.

Blue Lagoon has been fortunate in terms of capital raising; the company completed the final tranche of its most recent private placement in late April, raising C$2.23 million through the issuance of 8.9 million units at C$0.25 each.

The full offering brought in C$4.87 million over four tranches, fully funding Dome Mountain to production.

Blue Lagoon’s ability to fast track its permitting and funding process were praised by mining committee chair Yannis Tsitos, who has more than two decades of experience in the mining sector working for companies like global commodities giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP). Drawing on his history with large-scale operations, Tsitos described the Blue Lagoon’s approach as unusually nimble and disciplined.

“We haven’t cut a single corner,” he said, noting that while major players can afford to raise hundreds of millions upfront, most juniors must build organically. “What’s impressive is how this team — led by Rana — used creativity and persistence to move forward without delay,” he added. “It’s not about size; it’s about profitability and execution.”

He emphasized that Dome Mountain’s 15,000 ounce per year potential is just the beginning.

“Every major company started with one mine,” said Tsitos. “This could be the first step in something much bigger, and it’s happening right here in BC, which is hungry for investment.”

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

This post appeared first on investingnews.com

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Source Rock Royalties Ltd. (‘Source Rock’) (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil focused royalties, announces results for the three-month period ended March 31, 2025 .

First Quarter Highlights:

  • Quarterly royalty production of 232 boe/d (92% oil and NGLs), a decrease of 4% over Q1 2024.
  • Quarterly royalty revenue of $1,676,388 , a decrease of 3% over Q1 2024.
  • Quarterly adjusted EBITDA (1) of $1,460,440 ( $0.032 per share), a decrease of 3% over Q1 2024.
  • Quarterly funds from operations (1) of $1,292,215 ( $0.028 per share), a decrease of 3% over Q1 2024.
  • Declared three monthly dividends of $0.0065 per share, resulting in a payout ratio (1) of 69%.
  • Achieved an operating netback (1) of $70.00 per boe and a corporate netback (1) of $61.94 per boe.
  • Working capital of $5,263,714 (0.115 per share) as at March 31, 2025 .

Financial and Operational Results

Three Months Ended March 31,

FINANCIAL ($, except as noted)

2025

2024

Change

Royalty revenue

1,676,388

1,728,050

-3 %

Adjusted EBITDA (1)

1,460,440

1,504,104

-3 %

Per share (basic)

0.032

0.033

-3 %

Funds from operations (1)

1,292,215

1,331,106

-3 %

Per share (basic)

0.028

0.029

-3 %

Total comprehensive income (loss)

355,381

217,968

63 %

Per share (basic)

0.008

0.005

60 %

Per share (diluted)

0.007

0.005

40 %

Dividends declared

888,863

814,176

9 %

Per share

0.0195

0.018

8 %

Payout ratio (1) (%)

69 %

61 %

13 %

Cash and cash equivalents

5,125,530

2,445,179

110 %

Per share (basic)

0.11

0.05

108 %

Average shares outstanding (basic)

45,582,727

45,231,865

1 %

Shares outstanding (end of period)

45,582,727

45,232,645

1 %

OPERATING

Average daily production (boe/d)

232

241

-4 %

Percentage oil & NGLs (%)

92 %

95 %

-3 %

Average price realizations ($/boe)

80.36

78.78

2 %

Operating netback (1) ($/boe)

70.00

68.58

2 %

Corporate netback (1) ($/boe)

61.94

60.70

2 %

(1)

This is a non-GAAP financial measure or non-GAAP ratio. Refer to the disclosure under the heading ‘Non-GAAP Financial Measures & Ratios’ for more information on each non-GAAP financial measure or ratio.

About Source Rock Royalties Ltd.

Source Rock is a pure-play oil and gas royalty company with an existing, oil focused portfolio of royalty interests concentrated in southeast Saskatchewan , central Alberta and west-central Saskatchewan . Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock’s strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.

Forward-Looking Statements

This news release includes forward-looking statements and forward-looking information within the meaning of Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as ‘plans’, ‘is expected’, ‘expects’, ‘scheduled’, ‘intends’, ‘contemplates’, ‘anticipates’, ‘believes’, ‘proposes’ or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding Source Rock’s dividend strategy and the amount and timing of future dividends (and the sustainability thereof), the potential for future drilling on Source Rock’s royalty lands, expectations regarding commodity prices, Source Rock’s growth strategy and expectations with respect to future royalty acquisition and partnership opportunities, and the ability to complete such acquisitions and establish such partnerships. Such statements and information are based on the current expectations of Source Rock’s management and are based on assumptions and subject to risks and uncertainties. Although Source Rock’s management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this news release may not occur by certain dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Source Rock. Although Source Rock has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement or information can be guaranteed. Except as required by applicable securities laws, forward-looking statements and information speak only as of the date on which they are made and Source Rock undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures & Ratios

This news release uses the terms ‘funds from operations’ and ‘Adjusted EBITDA’ which are non-GAAP financial measures and the terms ‘payout ratio’, ‘operating netback’ and ‘corporate netback’ which are non-GAAP ratios. These financial measures and ratios do not have   a standardized prescribed meaning under GAAP and these measures and ratios may not be comparable with the calculation of similar measures disclosed by other entities.

‘Adjusted EBITDA’ is used by management to analyze the Corporation’s profitability based on the Corporation’s principal business activities prior to how these activities are financed, how assets are depreciated, amortized and impaired, and how the results are taxed. Additionally, amounts are removed relating to share-based compensation expense, the sale of assets, fair value adjustments on financial assets and liabilities, other non-cash items and certain non-standard expenses, as the Corporation does not deem these to relate to the performance of its principal business. Adjusted EBITDA is not intended to represent net profit (or loss) as calculated in accordance with IFRS.

The most directly comparable GAAP financial measure to funds from operations is cash flow from operating activities. ‘Funds from operations’ is defined as cash flow from operating activities before the change in non-cash working capital. Source Rock believes the timing of collection, payment or incurrence of these non-cash items involves a high degree of discretion and as such may not be useful for evaluating Source Rock’s operating performance. Source Rock considers funds from operations to be a key measure of operating performance as it demonstrates Source Rock’s ability to generate funds to fund operations, acquisition opportunities, dividend payments and debt repayments, if applicable. Funds from operations should not be construed as an alternative to income or cash flow from operating activities determined in accordance with GAAP as an indication of Source Rock’s performance.

‘Corporate netback’ is calculated as funds from operations divided by cumulative production volumes for the period. Corporate netback is used by Source Rock to better analyze the financial performance of its royalties against prior periods and to assess the cost efficiency of its overall corporate platform as it relates to production volumes. There is no standardized meaning for ‘corporate netback’ and this metric as used by Source Rock may not be comparable with the calculation of similar metrics disclosed by other entities, and therefore should not be used to make comparisons.

‘Operating netback’ represents the cash margin for products sold. Operating netback is calculated as revenue minus cash administrative expenses divided by cumulative production volumes for the period. Operating netback is used by Source Rock to assess the cash generating and operating performance of its royalties against prior periods and to assess the costs efficiency of its operating platform as it relates to production volumes. There is no standardized meaning for ‘operating netback’ and this metric as used by Source Rock may not be comparable with the calculation of similar metrics disclosed by other entities, and therefore should not be used to make comparisons.

‘Payout ratio’ is calculated as the aggregate of cash dividends declared in a period divided by funds from operations realized in such period. Source Rock considers payout ratio to be a key measure to assess Source Rock’s ability to fund operations, acquisition opportunities, dividend payments, cash taxes and debt repayments, if applicable.

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 of this release.

SOURCE Source Rock Royalties Ltd.

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(TheNewswire)

Vancouver, British Columbia TheNewswire – June 2, 2025: Allied Critical Metals Inc. (CSE: ACM | FSE:0VJ0) (‘ Allied’ or the ‘ Company’ ), which is focused on its 100% owned past producing Borralha and Vila Verde (Vale das Gatas) tungsten projects in northern Portugal, is pleased to announce the commencement of a fully-funded exploration program that will include up to 5,000 metres of core drilling at the Company’s flagship Borralha Tungsten Project (the ‘ Property’ or ‘ Borralha’ ), located in northern Portugal.

Roy Bonnell, CEO and Director commented, ‘The launch of this 5,000-metre drilling campaign marks a major milestone for Allied and the continued advancement of the Borralha Project. Our experienced geological team in Portugal expects the results to meaningfully expand the current resource base, paving the way for a more robust and valuable project. All newly defined tonnage will be incorporated into an updated Preliminary Economic Assessment (PEA), scheduled for release this fall. In parallel, advanced metallurgical optimization test work will be conducted at Wardell Armstrong’s laboratories in the UK, focusing on enhancing metal recoveries and concentrate grades. These efforts are aimed at further improving the economic performance of the project and delivering a higher-quality concentrate to meet the demanding standards of end-users.’

The Borralha project is an advanced-stage brownfield tungsten project located in northern Portugal. Historically mined between 1904 and 1985, it produced over 10,280 tonnes of high-grade wolframite concentrate averaging 66% WO₃ (as described in the Company’s Technical Report, referenced below). The Borralha project is now positioned for near-term, low-cost production with modern exploration confirming significant remaining mineralization.

Key highlights include:

Current NI 43-101 Resources (as of March 2024):

  • Indicated: 4.98 million tonnes at 0.22% WO₃, 762 g/t Cu, and 4.8 g/t Ag.

  • Inferred: 7.01 million tonnes at 0.20% WO₃, 642 g/t Cu, and 4.4 g/t Ag.

The Company has completed its maiden mineral resource estimate for the Property described in its technical report entitled, ‘Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal’ dated effective July 31, 2024 (the ‘ Technical Report’ ), which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca .

Recent Exploration : Drilling from 2023–2024 returned strong intercepts, including up to 10m at 1.75% WO₃ and multiple longer intervals averaging over 0.2% WO₃, as reported in the Technical Report.

Proposed 2025 RC Drilling Program:

Click Image To View Full Size

The following figure shows the plan of the proposed 2025 RC drilling program and an example of the proposed sectional drilling.

Figure 1: Proposed 2025 RC Drilling Program and Example of Proposed Sectional Drilling

Permitting: The project holds a Mining Rights Concession License and is undergoing environmental assessment to transition to full-scale mining. Current permitting allows bulk sampling of up to 150,000 tonnes per annum.

Infrastructure: Located near the major Portuguese cities of Braga and Porto, it benefits from excellent infrastructure including roads, power, water, and skilled labor.

Strategic Positioning: Borralha represents one of the few near-term, non-Chinese tungsten production opportunities globally, strategically aligning with the West’s increasing demand for critical raw materials amid heightened supply chain vulnerabilities. With Borralha and other national assets, Portugal is poised to emerge as one of Europe’s leading suppliers of tungsten , reinforcing its role in supporting the continent’s industrial resilience and green transition.

This project forms the cornerstone of Allied’s strategy to become a leading Western supplier of tungsten, a metal critical to defense, EVs, semiconductors, and industrial manufacturing.

Qualified Person

Doug Blanchflower, P.Geo. is a Consulting Geologist with Minorex Consulting and has reviewed and approved the scientific and technical information in this news release and is a Registered Professional Geoscientist in good standing with the Association of Professional Engineers and Geoscientists of British Columbia (No. 19086), and is independent from ACM and its mineral properties and is a qualified person for the purposes of National Instrument 43-101—Standards of Disclosure for Mineral Projects . Mr. Blanchflower is independent of the Company and its mineral properties.

On behalf of the Board of Directors

‘Roy Bonnell’

Roy Bonnell

CEO and Director

For further information or investor relations inquiries, please contact:

Dave Burwell

Vice President, Corporate Development

Email: daveb@alliedcritical.com

Tel: 403-410-7907

Toll Free: 1-888-221-0915

ABOUT ALLIED CRITICAL METALS

Allied Critical Metals Inc. (ACM:CSE | FSE:0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China and Russia represent approximately 90% of the total global supply and reserves. The Tungsten market is estimated to be valued at approximately U.S.$5 to $6 billion and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please also visit our website at www.alliedcritical.com.

Also visit us at:

LinkedIn:

X: https://x.com/@alliedcritical/

Facebook:

Instagram: https://www.instagram.com/alliedcriticalmetals/

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and terms of the investor awareness campaign, anticipated benefits to Company from running the investor awareness campaign, and the performance of the investor relations services providers of the marketing services as contemplated in the marketing agreements, or at all. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 , and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release and has neither approved now disapproved the contents of this press release.

Copyright (c) 2025 TheNewswire – All rights reserved.

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