GTI Energy (GTR:AU) has announced Placement Shares Issued & Drilling Approval Expected August
Download the PDF here.
GTI Energy (GTR:AU) has announced Placement Shares Issued & Drilling Approval Expected August
Download the PDF here.
Brightstar Resources (BTR:AU) has announced Drilling recommences at Yunndaga
Download the PDF here.
Mark O’Byrne, managing director at Tara Coins, shares his outlook for gold and silver.
He sees much higher prices long term and expects gold to rise to at least US$10,000 per ounce; for silver, O’Byrne believes US$100 to US$150 per ounce is a ‘conservative’ target.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
New Expansion Hole Intersects 279 Metres Averaging 0.49 % Cu
Nine Drill Rigs Now Active on Site
Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.
Osisko Metals Chief Executive Officer Robert Wares commented: ‘Today’s new results continue to confirm the large-scale potential of mineralization at Gaspé Copper. Expansion hole 30-1090 in particular has intersected a significant mineralized width, underscoring the excellent prospects for increasing the size of the known deposit towards the south. The program is advancing well, with a ninth drill rig added recently to accelerate the definition and expansion program.’
Significant new analytical results are presented below and include 25 mineralized intercepts from eight drill holes (Table 1). The infill intercepts are all located inside the defined 2024 Mineral Resource Estimate model (‘MRE’, see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. The expansion intercepts are all located outside the 2024 MRE model and may lead to additional resources that will be classified appropriately within the next MRE update. Maps showing hole locations are available at www.osiskometals.com .
Highlights:
Table 1: Infill and Expansion Drilling
DDH No. | From (m) | To (m) | Width (m) | Cu % | Ag g/t | Mo % | CuEq* | Type |
30-1077 | 129.0 | 201.0 | 72.0 | 0.22 | 2.71 | 0.24 | Infill | |
And | 291.0 | 313.5 | 22.5 | 0.23 | 2.62 | 0.009 | 0.28 | Infill |
And | 384.0 | 399.0 | 15.0 | 0.52 | 3.73 | 0.55 | Infill | |
And | 428.5 | 450.7 | 22.2 | 0.30 | 2.33 | 0.006 | 0.34 | Infill |
And | 481.5 | 553.5 | 72.0 | 0.19 | 1.41 | 0.013 | 0.25 | Expansion |
And | 603.8 | 777.0 | 173.2 | 0.27 | 1.49 | 0.035 | 0.42 | Expansion |
30-1078 | 6.0 | 262.5 | 256.5 | 0.25 | 1.79 | 0.008 | 0.29 | Infill |
And | 307.5 | 688.5 | 381.0 | 0.22 | 1.69 | 0.022 | 0.32 | Expansion |
30-1079 | 22.5 | 342.0 | 319.5 | 0.28 | 2.14 | 0.008 | 0.32 | Infill |
And | 456.0 | 636.0 | 180.0 | 0.37 | 2.54 | 0.007 | 0.41 | Expansion |
(Including) | 480.7 | 481.8 | 1.1 | 8.66 | 35.2 | 8.84 | Expansion | |
30-1080 | 15.0 | 535.5 | 520.5 | 0.23 | 1.02 | 0.013 | 0.29 | Infill |
And | 774.0 | 969.0 | 195.0 | 0.26 | 1.28 | 0.030 | 0.39 | Expansion |
30-1081 | 42.0 | 71.0 | 29.0 | 0.16 | 1.79 | 0.18 | Infill | |
And | 94.0 | 395.8 | 301.8 | 0.41 | 3.36 | 0.006 | 0.45 | Infill |
(Including) | 322.3 | 330.0 | 7.7 | 1.99 | 14.58 | 2.08 | Infill | |
And | 445.5 | 490.0 | 44.5 | 0.23 | 1.32 | 0.28 | Expansion | |
30-1084 | 5.6 | 477.0 | 471.4 | 0.25 | 1.95 | 0.009 | 0.30 | Infill |
And | 522.6 | 578.0 | 55.4 | 0.33 | 2.64 | 0.041 | 0.51 | Expansion |
And | 616.8 | 706.5 | 89.7 | 0.29 | 1.93 | 0.012 | 0.35 | Expansion |
30-1086 | 14.1 | 166.5 | 152.4 | 0.18 | 0.73 | 0.19 | Infill | |
And | 219.0 | 250.5 | 31.5 | 0.22 | 1.13 | 0.23 | Infill | |
And | 433.1 | 466.5 | 33.4 | 0.25 | 1.12 | 0.26 | Infill | |
And | 888.5 | 949.5 | 61.0 | 0.23 | 0.98 | 0.009 | 0.27 | Expansion |
30-1090 | 15.0 | 294.0 | 279.0 | 0.49 | 3.35 | 0.51 | Expansion | |
(Including) | 66.0 | 72.0 | 6.0 | 3.34 | 14.42 | 0.019 | 3.49 | Expansion |
(Including) | 164.0 | 172.7 | 8.7 | 2.24 | 9.78 | 2.29 | Expansion | |
And | 331.5 | 357.0 | 25.5 | 0.24 | 1.96 | 0.26 | Expansion | |
And | 417.0 | 525.0 | 108.0 | 0.84 | 7.79 | 0.89 | Expansion | |
(Including) | 433.4 | 445.3 | 11.9 | 3.00 | 30.46 | 3.20 | Expansion |
Notes: Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.
Table 2: Drill hole locations
DDH No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation |
30-1077 | 0 | -90 | 879 | 316400 | 5425987.8 | 637.7 |
30-1078 | 0 | -90 | 837 | 316300 | 5425903 | 608.4 |
30-1079 | 0 | -90 | 780 | 316298 | 5425814 | 584.3 |
30-1080 | 0 | -90 | 976 | 315500 | 5426425 | 580.0 |
30-1081 | 0 | -90 | 490 | 316505 | 5425800 | 584.9 |
30-1084 | 0 | -90 | 816 | 316397 | 5425889 | 606.9 |
30-1086 | 0 | -90 | 978 | 315500 | 5426320 | 580.0 |
30-1090 | 0 | -90 | 675 | 316477 | 5425532 | 565.7 |
Drill hole 30-1090 intersected new mineralization located 105 metres south of the 2024 MRE model, returning 279.0 metres averaging 0.49% Cu and 3.35 g/t Ag (including 8.7 metres averaging 2.24% Cu and 9.8 g/t Ag) ; a second intercept in this same hole (below the base of the 2024 MRE model) returned 108 metres averaging 0.84% Cu and 7.79 g/t Ag , extending mineralization to a vertical depth of 525 metres.
Drill hole 30-1078 (located in the south-central deposit) intersected 256.5 metres averaging 0.25% Cu and 1.79 g/t Ag , followed by a second intercept of 381.0 metres averaging 0.22% Cu and 1.69 g/t Ag , extending mineralization 280 metres below the base of the 2024 MRE model to a vertical depth of 688 metres.
Drill hole 30-1079 (located in the south-central deposit) intersected 319.5 metres averaging 0.28% Cu and 2.14 g/t Ag , followed by a second intercept of 180.0 metres averaging 0.37% Cu and 2.54 g/t Ag , extending mineralization 307 metres below the base of the 2024 MRE model to a vertical depth of 636 metres.
Drill hole 30-1081 (located in the south-central deposit) intersected 301.8 metres averaging 0.41% Cu and 3.36 g/t Ag ( including 7.7 metres averaging 1.99% Cu and 14.6 g/t Ag at the level of the C Zone skarn ), followed by a second intercept of 44.5 metres averaging 0.23% Cu and 1.32 g/t Ag, extending mineralization 146 metres below the base of the 2024 MRE model to a vertical depth of 490 metres.
Drill hole 30-1084, also located in the south-central portion of the deposit, intersected 471.4 metres averaging 0.25% Cu and 1.95 g/t Ag, followed by a second intercept at depth of 55.4 metres averaging 0.33% Cu and 2.64 g/t Ag, and a third deeper intercept of 89.7 metres averaging 0.29% Cu and 1.93 g/t Ag, extending mineralization 306 metres below the base of the 2024 MRE model to a vertical depth of 706 metres.
Drill hole 30-1080 (located at the northwest end of the deposit) intersected 520.5 metres averaging 0.23% Cu and 1.02 g/t Ag , followed by a second intercept of 195.0 metres averaging 0.26% Cu and 1.28 g/t Ag , extending mineralization 418 metres below the base of the 2024 MRE model to a vertical depth of 969 metres.
Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).
The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.
All holes were drilled sub-vertically into the altered calcareous stratigraphy, which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites (pale green to white potassic-altered hornfels) that host the bulk of the disseminated copper mineralization.
The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.
Explanatory note regarding copper-equivalent grades
Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.00/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent consultant, is at ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).
Quality Assurance / Quality Control
Mineralized intervals reported herein are calculated using an average 0.12% copper lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.
Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com , or contact:
Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129
Cautionary Statement on Forward-Looking Information
This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/9056bd4b-e68d-4dd1-a787-1f3b346d2cde
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9ed8b2-4c21-47aa-9923-f5e30da77ff4
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US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.
“I believe the tariff on copper, we’re going to make 50 percent,” Trump said during a White House cabinet meeting.
Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.
The announcement triggered immediate market reaction. According to Reuters, copper futures for September delivery surged 13 percent on the day, closing at US$5.6855 per pound—its biggest single-day jump since 1989.
Traders cited fears of a supply crunch and price volatility as buyers scrambled to secure US-bound shipments ahead of the tariff implementation.
The decision marks a culmination of a months-long process that began in February, when Trump signed an executive order instructing the Department of Commerce to investigate whether copper imports posed a national security threat under Section 232 of the Trade Expansion Act of 1962.
The rarely used statute gives the president broad authority to impose tariffs or quotas if imports are deemed harmful to national defense or essential industries.
The copper tariff follows a similar pattern established during Trump’s first term, when the White House used Section 232 to levy tariffs on steel and aluminum.
Since returning to office, Trump has expanded his use of the provision to include automobiles, pharmaceuticals and critical minerals like rare earths.
The brunt of the copper tariff is expected to fall on key US trade partners — most notably Chile, Canada and Mexico, which collectively accounted for the majority of America’s US$17 billion in copper imports in 2024, according to US Census Bureau data.
Chile alone shipped US$6 billion worth of copper to the US last year.
Officials from Chile, Canada and Peru, have pushed back against the measure, arguing their exports pose no threat to US national security and citing long-standing free trade agreements.
However, none have been granted exemptions as of Wednesday (July 9), and negotiations remain in limbo.
The looming copper tariff comes on the heels of broader trade actions taken by the Trump administration. On Monday (July 7), the White House imposed stiff tariffs on imports from 14 countries, including Japan, South Korea, Malaysia, South Africa and Kazakhstan.
These levies, effective August 1, targeted a wide range of sectors, from steel and aluminum to automotive parts and textiles.
Despite its relatively small trade deficit in copper — the US exported US$11.3 billion and imported US$9.6 billion worth of the metal in 2024 — the White House argues that the country remains dangerously reliant on foreign refining and processing capacity.
The legal foundation for the copper tariff lies in Section 232, which allows the president to act unilaterally on trade when national security is at stake. Experts say the provision gives Trump more durable legal ground than his recent attempts to use emergency powers to implement broad, country-specific tariffs — some of which are being challenged in federal court.
“Section 232 tariffs are central to President Trump’s tariff strategy,” said Mike Lowell, a trade attorney with ReedSmith, in an interview with CNBC. “They aren’t the target of the pending litigation, and they’re more likely to survive a legal challenge and continue into the next presidential administration.”
The administration’s increasing reliance on Section 232 tariffs reflects a shift toward industrial policy motivated by supply chain security, particularly for materials with dual-use applications in civilian and defense sectors.
Copper is a case in point. Used extensively in electrical wiring, motors, semiconductors and military-grade communications equipment, the red metal has been classified as critical to US infrastructure and defense capabilities.
Analysts point out that demand for the red metal is set to surge in the coming years due to the ongoing energy transition and growing adoption of electric vehicles.
In April, Trump issued a separate executive order launching a Section 232 investigation into US reliance on imported critical minerals and processed rare earths, calling them “essential for national security and economic resilience.” The order cited specific applications in jet engines, missile guidance, radar systems and advanced electronics.
As of Wednesday, no formal timeline had been posted on Trump’s Truth Social account, and details around carve-outs or exemptions remained unclear.
For now, however, Trump appears undeterred. The head of state has already threatened that pharmaceuticals may be next in line for potential action.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Amazon is extending its annual Prime Day sales and offering new membership perks to Gen Z shoppers amid tariff-related price worries and possibly some consumer boredom with an event marking its 11th year.
For the first time, Seattle-based Amazon is holding the now-misnamed Prime Day over four days. The e-commerce giant’s promised blitz of summer deals for Prime members started at 3:01 a.m. Eastern time on Tuesday and ends early Friday.
Amazon launched Prime Day in 2015 and expanded it to two days in 2019. The company said this year’s longer version would have deals dropping as often as every 5 minutes during certain periods.
Prime members ages 18-24, who pay $7.49 per month instead of the $14.99 that older customers not eligible for discounted rates pay for free shipping and other benefits, will receive 5% cash back on their purchases for a limited time.
Amazon executives declined to comment on the potential impact of tariffs on Prime Day deals. The event is taking place two and a half months after an online news report sparked speculation that Amazon planned to display added tariff costs next to product prices on its website.
White House Press Secretary Karoline Leavitt denounced the purported change as a “hostile and political act” before Amazon clarified the idea had been floated for its low-cost Haul storefront but never approved.
Amazon’s past success with using Prime Day to drive sales and attract new members spurred other major retail chains to schedule competing sales in July. Best Buy, Target and Walmart are repeating the practice this year.
Like Amazon, Walmart is adding two more days to its promotional period, which starts Tuesday and runs through July 13. The nation’s largest retailer is making its summer deals available in stores as well as online for the first time.
Here’s what to expect:
Amazon expanded Prime Day this year because shoppers “wanted more time to shop and save,” Amazon Prime Vice President Jamil Ghani recently told The Associated Press.
Analysts are unsure the extra days will translate into more purchases given that renewed inflation worries and potential price increases from tariffs may make consumers less willing to spend. Amazon doesn’t disclose Prime Day sales figures but said last year that the event achieved record global sales.
Adobe Digital Insights predicts that the sales event will drive $23.8 billion in overall online spending from July 8 to July 11, 28.4% more than the similar period last year. In 2024 and 2023, online sales increased 11% and 6.1% during the comparable four days of July.
Vivek Pandya, lead analyst at Adobe Digital Insights, noted that Amazon’s move to stretch the sales event to four days is a big opportunity to “really amplify and accelerate the spending velocity.”
Caila Schwartz, director of consumer insights and strategy at software company Salesforce, noted that July sales in general have lost some momentum in recent years. Amazon is not a Salesforce Commerce Cloud customer, so the business software company doesn’t have access to the online giant’s e-commerce sales and so is not privy to Prime Day figures.
“What we saw last year was that (shoppers) bought and then they were done, ” Schwartz said. “We know that the consumer is still really cautious. So it’s likely we could see a similar pattern where they come out early, they’re ready to buy and then they take a step back.”
Amazon executives reported in May that the company and many of its third-party sellers tried to beat big import tax bills by stocking up on foreign goods before President Donald Trump’s tariffs took effect. And because of that move, a fair number of third-party sellers hadn’t changed their pricing at that time, Amazon said.
Adobe Digital Insights’ Pandya expects discounts to remain on par with last year and for other U.S. retail companies to mark 10% to 24% off the manufacturers’ suggested retail price between Tuesday and Friday.
Salesforce’s Schwartz said she’s noticed retailers becoming more precise with their discounts, such as offering promotion codes that apply to selected products instead of their entire websites.
Amazon Prime and other July sales have historically helped jump-start back-to-school spending and encouraged advance planners to buy other seasonal merchandise earlier. Analysts said they expected U.S. consumers to make purchases this week out of fear that tariffs will make items more expensive later.
Brett Rose, CEO of United National Consumer Supplies, a wholesale distributor of overstocked goods like toys and beauty products, thinks shoppers will go for items like beauty essentials.
“They’re going to buy more everyday items,” he said.
As in past years, Amazon offered early deals leading up to Prime Day. For the big event, Amazon said it would have special discounts on Alexa-enabled products like Echo, Fire TV and Fire tablets.
Walmart said its July sale would include a 32-inch Samsung smart monitor priced at $199 instead of $299.99; and $50 off a 50-Inch Vizio Smart TV with a standard retail price of $298.00. Target said it was maintaining its 2024 prices on key back-to-school items, including a $5 backpack and a selection of 20 school supplies totaling less than $20.
Independent businesses that sell goods through Amazon account for more than 60% of the company’s retail sales. Some third-party sellers are expected to sit out Prime Day and not offer discounts to preserve their profit margins during the ongoing tariff uncertainty, analysts said.
Rose, of United National Consumer Supplies, said he spoke with third-party sellers who said they would rather take a sales hit this week than use up a lot of their pre-tariffs inventory now and risk seeing their profit margins suffer later.
However, some independent businesses that market their products on Amazon are looking to Prime Day to make a dent in the inventory they built up earlier in the year to avoid tariffs.
Home fragrance company Outdoor Fellow, which makes about 30% of its sales through Amazon’s marketplace, gets most of its candle lids, labels, jars, reed diffusers and other items from China, founder Patrick Jones said. Fearing high costs from tariffs, Jones stocked up at the beginning of the year, roughly doubling his inventory.
For Prime Day, he plans to offer bigger discounts, such as 32% off the price of a candle normally priced at $34, Jones said.
“All the product that we have on Amazon right now is still from the inventory that we got before the tariffs went into effect,” he said. “So we’re still able to offer the discount that we’re planning on doing.”
Jones said he was waiting to find out if the order he placed in June will incur large customs duties when the goods arrive from China in a few weeks.
Just when we thought tariff talk had gone quiet, it’s back on center stage. With the reciprocal tariff deadline landing this Wednesday, President Trump has mailed out notices that new duties will kick in on August 1. Countries such as Japan, South Korea, Malaysia, and Kazakhstan face a 25% levy, while a few others may see steeper rates.
Wall Street didn’t take the news well. On Monday, the S&P 500 ($SPX) closed lower by 0.79%.
Before the July 4 long weekend, the S&P 500 and Nasdaq Composite ($COMPQ) notched fresh record highs, buoyed by solid jobs data. But like migratory birds, tariffs circled back on Monday and pushed stocks lower almost across the board.
Monday’s performance can be encapsulated by the StockCharts MarketCarpets screenshot below. It was pretty much red except for a few lonely green squares.
FIGURE 1. STOCK MARKET’S PERFORMANCE ON MONDAY, JULY 7. Besides a few lonely green squares, the screen lit up red. Image source: StockCharts.com. For educational purposes.
Stock market pullbacks aren’t all bad. They give investors and traders a chance to go bargain hunting. A handy tool is the Market Movers panel in your StockCharts Dashboard. Check the “S&P 500 % Down” category to spot the 10 stocks in the index that had the largest % loss for the trading day. Then view the charts and see if any deserve a place in your ChartLists.
Two names that caught my eye:
FIGURE 2. MARKET MOVERS PANEL FROM MONDAY, JULY 7. From this list, two stocks worth considering as “buy the dip” opportunities are TSLA and ON. Image source: StockCharts.com. For educational purposes.
While it’s clear that politics helped knock TSLA down, the chart tells a fuller story.
From the daily chart of TSLA below, it’s clear that the stock has seen some erratic movement recently.
FIGURE 3. DAILY CHART OF TSLA’S STOCK PRICE. TSLA’s stock price has danced above and below its 200-day simple moving average, and momentum is relatively weak. Chart source: StockCharts.com. For educational purposes.
Since April, TSLA’s stock price looked like it was recovering after it broke out above its 200-day simple moving average (SMA). However, in early June it dipped below it and then went above it, and is now back below it. The June 23 high was below the end of May high. The relative strength index (RSI) and percentage price oscillator (PPO) indicate weakening momentum. The big question is where is TSLA going to find support?
Watch three support levels on your chart. TSLA’s stock price has moved above the first support level. Look for momentum to pick up to confirm the upside move. If TSLA’s stock price doesn’t hold at this level and falls further towards the $270 or $220 levels, similar conditions would apply. However, a significant fall in price would weaken momentum significantly and would need stronger evidence to consider going long.
ON has lagged its chip-making peers. Over the past year, ON Semiconductor has underperformed the VanEck Semiconductor ETF (SMH). ON supplies chips to automakers and manufacturers, so its fortunes rise and fall with car demand.
The daily chart of ON below shows that since early April the stock price has recovered with a series of higher highs and higher lows. It is now facing resistance of its 200-day SMA, a resistance area that coincides with the February high and the early January gap down. Momentum looks like it’s rising as indicated by the slight rise in RSI and a potential bullish crossover in the PPO.
FIGURE 4. DAILY CHART OF ON SEMICONDUCTOR. Since early April, ON has printed higher highs and higher lows. The stock price is now hovering around its 200-day SMA, and momentum seems to be gaining a little strength. Chart source: StockCharts.com. For educational purposes.
I would look for ON to clear $58 on strong volume and improving momentum before opening a long position.
A short-term investment could be a better choice for TSLA since its price performance is correlated to Elon Musk’s involvement with the company.
ON could be a steadier, longer-term investment if the stock price breaks above resistance.
No matter what, decide in advance where you’ll place your stops. Then stick to your plan because discipline always wins.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
Dylan Earl said he needed a “fresh start” in life. Unsatisfied by his prospects in his dreary English town, he decided to orchestrate a terrorist attack in London on behalf of a Russian mercenary group.
If he’d had things his way, the 20-year-old, small-time drug dealer would have moved to Russia to join its military. He’d heard that he could make good money fighting for what he saw as a just cause but feared his lack of spoken Russian would hold him back.
As it happened, Earl was able to join the war from the comfort of his home in England’s Midlands. All it took was a simple “Hi” to an anonymous Telegram account called “Privet Bot” that was inviting Europeans to join the “resistance” against Ukraine’s allies.
Just five days later, Earl arranged for a group of men to set fire to a warehouse in east London, choosing the target because of its links to Ukraine. The next month, Earl was arrested and charged with aggravated arson and an offense under the UK’s new National Security Act, to which he pleaded guilty. A second suspect, Jake Reeves, would plead guilty to aggravated arson and another National Security Act charge.
More than a year on, six others stood trial between May and July at London’s Old Bailey in relation to the attack.
On Tuesday, three were convicted by the jury of aggravated arson, while a fourth – the man who prosecutors said drove them to the site – was acquitted of that charge, which he denied.
Of the two men accused of failing to inform the police of a potential terror attack, one was acquitted on two counts and the other found guilty on one count and cleared of a second.
British prosecutors said the “Privet Bot” account was associated with Wagner, a Russian mercenary group that has fought in Ukraine and maintained Moscow’s footprint in Africa. The account is now defunct, but correspondence revealed in the trial showed the length to which operatives went to recruit foot soldiers in the “shadow war” against the West.
Russia has not relied on well-trained agents in this campaign, but a network of low-level criminals: some sympathetic to Moscow’s cause, others simply wanting cash. Whereas espionage and sabotage used to take years to recruit and plan for, these operations now require just a few hours on Telegram and some cash. Analysts say this tactic is a dark spin on the modern “gig” economy: Hostile states use a young workforce that is temporary and flexible. The work is on-demand, just-in-time, no-strings-attached.
This has created headaches for those tasked with keeping Europe safe. Ken McCallum, the head of MI5, Britain’s domestic intelligence service, warned last year that Russia is on a “mission to generate mayhem on British and European streets.” Richard Moore, then head of MI6, the foreign intelligence agency, put it more bluntly: “Russian intelligence services have gone a bit feral.”
Some messages were deleted by the suspects, and investigators could not establish the identity of all the anonymous accounts involved. Where reproduced, some exchanges have been edited for clarity and length.
Earl made money dealing cocaine, with about £20,000 ($27,000) in cash and more in cryptocurrency to show for his exploits. But he wanted to make it big, and that meant getting out of England. One place in particular caught his eye.
It is not clear when Earl first became interested in Russia. On June 23, 2023, he joined a Telegram group called “AP Wagner Chat.” That same night, Yevgeny Prigozhin – then the head of Wagner – declared what would prove to be a short-lived mutiny against Russian President Vladimir Putin. Prigozhin died in a plane crash two months later.
Earl joined both smaller pro-Russian Telegram chats and larger groups such as “Grey Zone,” which boasted some 500,000 subscribers, and, according to British investigators, functioned as Wagner’s de facto mouthpiece. At least eight times between 2023 and 2024, the trial jury heard, the account promoted “Privet Bot,” encouraging people to join operations across Europe.
The account soon gave Earl his first target: a warehouse in Leyton, east London. The site was run by a Ukrainian man, whose businesses included delivering Starlink internet terminals to Ukraine – crucial technology for Kyiv’s war effort.
In case Earl was not sure what kind of work he was getting into, “Privet Bot” told him to watch the series “The Americans” – a Cold War drama in which Russian spies, embedded in Washington, DC, conduct dangerous missions for the Soviet Union.
Earl may have imagined himself as a Cold War-era spy, but much of that world has faded.
Landsbergis said it was like drones replacing legacy equipment on the battlefields of Ukraine. “They’re just cheaper, and as efficient to (achieve) your stated goals.”
Russia’s shift to this tactic may initially have been out of necessity. With hundreds of its diplomats and agents expelled from European countries in the wake of Russia’s full-scale invasion of Ukraine, Moscow had to get creative in how it conducted its operations.
But the tactic proved fruitful: Attacks like that in Leyton are cheap to set up, often deniable, and below the threshold likely to trigger a response under NATO’s Article 5.
Earl was committed to the mission; he just needed recruits. He found one in Reeves, a 23-year-old from Croydon, south London. It is not clear how Earl and Reeves first came into contact.
By day, Reeves worked as a cleaner at London’s Gatwick Airport. But in his ketamine-fueled nights, he became increasingly fascinated with his contact, Earl, whom he believed to be a Russian national, or at least a Russian speaker, with ties to the Kremlin.
While lacking Earl’s ideological fervor, Reeves could still help his cause by finding him willing foot soldiers. Prosecutors alleged he recruited Nii Mensah, now 23, another Croydon local who said he was “down for da cause,” as well as a large payday. Mensah appears to have recruited Jakeem Rose, also now 23, who lived near Mensah. Now they just needed a driver.
Paul English took a laxative on the evening of March 20, 2024, to prepare for his bowel cancer screening the next morning. Planning for a quiet night, the 61-year-old would instead find himself driving “cross-legged” across London.
His neighbor’s son, Ugnius Asmena, needed a favor. He and his mates needed a lift around the city. Might English be able to help out?
As English recalled in his police interview, Asmena’s offer was simple: £500 for a night’s work – half up front, the rest later. All he had to do was take him to Croydon, pick up a couple of others, then head north across the River Thames. English agreed, because he was “skint,” or broke. Soon after, he was driving towards Leyton with Asmena in the front, and two others – Mensah and Rose – in the back, prosecutors said.
English said he did as he was told: He drove to Leyton, filling a jerry can with gasoline en route, and waited in the car with Asmena, while Mensah and Rose got out to “do their thing.” Minutes later, the pair jumped over the fence and back into the car, leaving English to make their getaway.
Just before midnight, the London Fire Brigade was called to the Cromwell Industrial Estate. The blaze caused more than £1 million in damage, the court heard.
Later that night, Mensah Googled “Leyton fire.”
“Bro lol,” he said to Earl on Telegram. “It’s on the news.”
When the jury returned Tuesday after several days of deliberation, Asmena, Rose and Mensah were each found guilty of aggravated arson, charges they had denied. English was acquitted of the same charge, which he had also denied.
Burning a warehouse will not on its own tip the balance of the war in Russia’s favor. But cumulatively, such attacks can unsettle Ukraine’s Western backers.
According to a database of alleged Russian “shadow” attacks compiled by the US-based Center for Strategic and International Studies (CSIS) think-tank, the number carried out quadrupled between 2022 and 2023, then nearly tripled between 2023 and 2024.
These alleged attacks have included blazes at a shopping mall in Poland and an Ikea store in Lithuania, cyberattacks on Czech railways, and the vandalism of Jewish buildings in France. Russia has denied allegations of any involvement.
Recalling his time in office in Lithuania, Landsbergis said responding to such attacks felt like playing whack-a-mole: “You catch one and Russia easily replaces them with several others hired through Telegram.”
Galeotti, the Russia analyst, said this alleged campaign has two main goals: To show Europe that there are costs to backing Ukraine, and – even if the operations fail – to cultivate a “general sense of chaos” in Europe.
“Everything that goes wrong, someone sees the ‘dread hand’ of Putin behind it,” Galeotti said. “If nothing else, it makes the Russians seem much more powerful that they really are.”
Back in Croydon, Mensah wanted payment. But there was a holdup: Earl said he wouldn’t be paid until the Russians could judge the extent of the damage.
But “Privet Bot” wasn’t happy. It told Earl that he had jumped the gun. “We could have burned the warehouses much better and more if we had coordinated our actions,” it told him. As such, Earl wouldn’t receive the full fee.
Earl’s accomplices grew bitter – none more so than Mensah. Earl couldn’t stump up the cash for the first job, but felt he had something better: an even more lucrative contract for another arson attack – this time in London’s swish Mayfair district.
The targets were a restaurant and wine shop owned by Yevgeny Chichvarkin, a Russian businessman who had criticized the war in Ukraine. Earl went back to his UK contacts.
Reeves was happy to help, messages showed. He couldn’t be “broke forever,” he told his school friend, Dmitrijus Paulauskas, a Russian-speaking Lithuanian who moved to Britain when he was young. Although Paulauskas was not involved in planning the attack, in his messages he said he was “gassed” (excited) that Russia had “integrated into the UK underworld.”
Paulaskas was cleared by the Old Bailey jury on two counts of failing to disclose information about terrorist acts. Another defendant, Ashton Evans, 20, faced the same charges and was found guilty on one count and acquitted on the second.
While preparing for the attack in central London, Earl began to have grander ambitions. “Privet Bot” was encouraging: “You are wise and clever despite being young! We have a lot of glorious jobs ahead.”
But to recruit more people, Earl needed faster payments from Russia. Most of Earl’s messages to the bot were not recovered in the investigation, but one late-night, Google-Translated outburst had not been deleted, showing Earl pleading with his superiors to equip him to become “the best spy you have ever seen.”
The next day, Earl was arrested by British police. He pleaded guilty to aggravated arson and to an offense under the National Security Act. Reeves was arrested nine days later, and pleaded guilty to similar charges. Sentencing for Reeves and Earl – and the four others convicted – will take place at a later date, the UK’s Crown Prosecution Service said.
Historically, Moscow has gone to great lengths to reward and retrieve its spies. But these “gig economy” recruits can’t expect the same.
To Russia, they are disposable; to their home countries, they are traitors. In her summing up, the judge put it starkly: “Our parents and grandparents would have had a simple term for what Dylan Earl and Jake Reeves did: treason.”
Although sabotage is an old crime, Europe has struggled to combat the new ways of committing it. Landsbergis said Europe’s disjointed response meant Russia could act with impunity. Now, Europe should “go after the archer, not the arrows,” he said.
The tempo of Russia’s alleged attacks has, however, slowed in recent months, Galeotti noted, perhaps due to the success of European authorities in thwarting them and bringing the perpetrators to justice. Or, he said, Moscow may be taking stock of what it learned from 18 months of “entrepreneurial” thinking.
“I would love to think that it was just something they tried and then abandoned. But I have a feeling we’re going to see them return to it, having internalized the lessons of the first ‘test’ operations,” he said.
Israel’s defense minister said he told the military to advance plans for what he called a “humanitarian city” built on the ruins of Rafah in southern Gaza, according to reports in Israeli media.
In a briefing to reporters Monday, Israel Katz said the zone would initially house some 600,000 displaced Palestinians who have been forced to evacuate to the Al-Mawasi area along the coast of southern Gaza, multiple outlets who attended in the briefing reported. Palestinians who enter the zone will go through a screening to check that they are not members of Hamas.
They will not be allowed to leave, Katz said, according to Israeli media. Eventually, the defense minister said the entire population of Gaza – more than 2 million Palestinians – will be held in the zone. Katz then vowed that Israel would implement a plan, first floated by US President Donald Trump, to allow Palestinians to emigrate from Gaza to other countries.
Israeli politicians, including Prime Minister Benjamin Netanyahu, have eagerly supported the emigration plan, despite no country publicly expressing any willingness to take part. At a White House dinner with Trump Monday, Netanyahu said, “We’re working with the United States very closely about finding countries that will seek to realize what they always said, that they want to give the Palestinians a better future, and I think we’re getting close to finding several countries.”
Katz said the zone for displaced Palestinians will be run by international bodies, not the Israel Defense Forces (IDF), Israeli media reported. The IDF would secure the zone from a distance, Katz said, in a plan that appears to imitate the aid distribution mechanism of the US- and Israeli-backed Gaza Humanitarian Foundation (GHF). GHF operates the distribution sites, but the IDF surrounds them militarily.
It’s unclear what bodies would agree to participate in Katz’s plan, especially since most international organizations refuse to take part in GHF’s distribution sites due to serious concerns about impartiality and the safety of the Palestinian population. Hundreds of Palestinians have been killed trying to approach the distribution sites since they began operating a month ago, according to health officials in Gaza and the United Nations.
A spokesman for Katz has not responded to repeated requests for comment.
Asked about the plan at a press conference on Tuesday evening, IDF spokesman Brig. Gen. Effie Defrin said the military “will present several options to the political echelon.”
“Every option has its implications. We will act according to the directives of the political echelon,” Defrin added.
On Tuesday, British Foreign Secretary David Lammy said the UK opposes the new plan, just as it opposed GHF.
“I’m surprised at the statements that I’ve seen from Mr. Katz over the last 24 hours,” Lammy told a parliamentary committee. “They run contra to the proximity to a ceasefire that I thought we were heading towards.” Lammy added that he does not recognize the plan “as a serious context in which the people of Gaza can get the aid and support that they need at this time.”
In a statement Tuesday, Hamas said that Israel’s “persistent efforts to forcibly displace our people and impose ethnic cleansing have met with legendary resilience. Our people have stood firm in the face of killing, hunger, and bombardment, rejecting any future dictated from intelligence headquarters or political bargaining tables.”
“If they are done on a massive scale – whole communities – they can amount to war crimes,” Sfard said, dismissing the notion that any departure from Gaza could be considered voluntary.
“There is no consensual departure. There is no voluntary departure. People will flee from Gaza because Israel is mounting on them coercive measures that would make their life in Gaza impossible,” he said. “Under international law, you don’t have to load people on trucks at gunpoint in order to commit the crime of deportation.”
Qatar, which is now hosting proximity talks between Israel and Hamas, also rejected the deportation of Gaza’s population. “We have said very clearly we are against any forced relocation of Palestinians, or any relocation of Palestinians outside their land,” Majed Al Ansari, spokesman for the Qatari Foreign Ministry, said on Tuesday.
Thirteen women and two men who survived captivity by Hamas said they experienced or witnessed sexual violence while held hostage in Gaza, according to a new report by a group of Israeli researchers known as the Dinah Project.
The Dinah Project experts — all women — gathered first-hand testimonies from the 15 returned hostages, one survivor of an attempted rape during the October 7, 2023 terror attacks, 17 eye and ear witnesses and 27 first responders who attended the scenes of the attacks.
These testimonies, coupled with forensic reports and photographs and videos from the attacks, led them to conclude that Hamas used sexual violence in a widespread, systematic and “tactical” way as a “weapon of war.”
The report, published on Tuesday, describes some of the survivors’ experiences.
One female hostage was beaten and sexually assaulted at gunpoint while in captivity, according to the report. She said she was chained by an iron ankle chain for three weeks and was repeatedly asked about the timing of her menstrual cycle. The report details that many of the 15 former hostages were threatened with rape in the form of forced marriage. Almost all of them reported verbal sexual harassment and some physical sexual harassment, including unwanted touching of private parts, it said.
Israel has in the past accused international organizations, including the UN and its agencies, of ignoring widespread sexual violence perpetrated by Hamas and other militant groups during the October 7 attacks.
The Dinah Project is an Israeli group established following the attacks to seek justice for victims of sexual violence. Made up of legal and gender experts, it is led by legal scholar Ruth Halperin-Kaddari and Sharon Zagagi-Pinhas, who was the former chief military prosecutor of the Israel Defense Forces, and operates under the auspices of the Ruth and Emanuel Rackman Center for the Advancement of Women at Bar-Ilan University.
The first official acknowledgment by the UN of the use of sexual violence during the attacks came some five months after October 7. Then, following a mission to Israel, the UN’s Special Representative on Sexual Violence in Conflict Pramila Patten published a report concluding there were reasonable grounds to believe conflict-related sexual violence occurred in multiple locations, and that there was clear and convincing evidence that hostages in Gaza were subjected to sexual assaults.
Hamas has denied in the past that militants committed sexual violence, saying in a statement in December that these were “unfounded lies and allegations.”
The scale of the atrocities committed on the day of the attacks meant that first responders and investigators were overwhelmed. According to Jewish customs, bodies must be buried as soon as possible after death, so the focus of the first responders, many of whom were Orthodox Jewish volunteers, was on recovering remains rather than investigation.
In many instances, authorities did not have a chance to collect sufficient forensic evidence because they were attending scenes while the attacks were still ongoing. This meant that there were often no detailed records or photographs of the crime scenes in the immediate aftermath. Many of the victims of sexual violence were murdered by their attackers, which meant there were almost no first-hand testimonies, according to the report.
As some of the hostages were released and more time passed, allowing victims to process their experiences, researchers were able to collect more comprehensive first-hand evidence.
The Dinah Project researchers called for the sexual violence perpetrated during the attacks to be recognized as crimes against humanity, and said the perpetrators must be held accountable and receive international condemnation.