Category: Canada

Sikhulekelani Moyo, [email protected]

CALEDONIA Mining Corporation Plc, which owns Gwanda-based Blanket Mine, has said the feasibility study for its Bilboes gold mining project, 75km North of Bulawayo, continues to show positive fundamentals, which may benefit the group.
Blanket Mine is already one of Zimbabwe’s biggest gold producers, having produced 76 656 ounces last year.

In 2023, Blanket Mine managed 75 416 ounces. Caledonia’s long-term vision is to become a multi-asset gold producer in Zimbabwe.

In an update statement, Caledonia said it was making good progress on the feasibility study with the support of DRA Projects and other technical consultants.

While the feasibility study was initially targeted for completion in the first quarter of 2025, Caledonia has extended the timeline to explore fully the several material optimisation opportunities.

It said the opportunities have the potential to enhance project economics and reduce upfront capital requirements.
The company said the feasibility study supersedes the Preliminary Economic Assessment released on June 3, 2024, which outlined attractive project economics and a mine plan capable of tripling Caledonia’s gold production and positioning the company as an intermediate gold producer.

“Encouragingly, ongoing work continues to confirm the project’s attractive fundamentals. Against the backdrop of a strong gold price, Bilboes remains both compelling and financeable,” said the company.

“Key areas of optimisation currently under review include engaging with the authorities to explore the potential sale of concentrate, which could significantly reduce upfront capital expenditures by deferring the capital expenditure on a BIOX processing circuit, at least in the first few years of production, and evaluating the potential relocation of the Tailings Storage Facility to a more efficient site, including on Caledonia’s Motapa property adjacent to Bilboes, where the topography could lead to lower initial construction costs,” it said.

Caledonia also said it was incorporating near-term opportunities at Motapa into the Bilboes feasibility study, following strong exploration results in 2024 and the additional exploration and development work planned at Motapa this year.

The giant gold producer also said the exploration at Motapa had been particularly promising, indicating the presence of new mineralised zones within a few hundred metres of the proposed Bilboes processing plant.

“Demonstrating significant resource additions at Motapa has the potential to materially improve the long-term economics of a combined Bilboes-Motapa project,” the Toronto Stock Exchange and Victoria Falls Stock Exchange group said.
Caledonia continues to assess near-term revenue opportunities across its portfolio.

In particular, high-grade mineralisation recently identified at the Blanket Mine could make a meaningful contribution to initial capital requirements for Bilboes through further flexibility around funding.

“The board remains fully committed to maximising shareholder value: this means ensuring that Bilboes is optimised both technically and financially, while continuing discussions with funding partners and relevant authorities in Zimbabwe.

“The optimisation work is advancing well, and the company will provide a further update on the expected timing of the feasibility study in due course,” the company said.

Caledonia chief executive officer Mr Mark Learmonth said Bilboes could be transformative for Caledonia, pointing out the group was working to make sure the requisite funding is secured.

“We are encouraged by the results to date and are taking a disciplined approach to optimisation — both to enhance returns and to ensure we can fund the project in the most efficient way possible,” he said.

“With strong exploration results at Motapa, promising developments at Blanket and supportive market conditions, we remain confident in Bilboes’ ability to significantly reshape Caledonia’s growth profile.”

In January 2023, Caledonia acquired Bilboes Gold Limited for US$53,2 million, as part of its strategy to become a multi-asset gold producer in Zimbabwe, with the goal of producing more than 250 000 ounces of gold annually.

(MENAFN– Newsfile Corp)
Port Moresby, Papua New Guinea–(Newsfile Corp. – March 27, 2025) – Adyton Resources Corporation (TSXV: ADY) (” Adyton ” or the ” Company “) is pleased to announce that Chirag Patel has joined the management team as Chief Financial Officer and Corporate Secretary effective immediately.

Mr. Patel is a Chartered Professional Accountant with extensive experience in financial management, tax reporting, and corporate strategy for various public and multinational firms, including multiple years’ experience specializing in the public mining sector. Mr. Patel holds a degree from Simon Fraser University.

The appointment follows the departure of Mr. Stephen Kelly as the Company’s CFO and Corporate Secretary effective immediately. Adyton would like to thank Mr. Kelly for his contributions made to the Company and wishes him well with his current and future endeavors.

ON BEHALF OF THE BOARD OF DIRECTORS

“Tim Crossley”

Tim Crossley, Chief Executive Officer
E‐mail: …
Phone: +61 7 3854 2389
Phone: +1 778 549 6768

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

ABOUT ADYTON RESOURCES CORPORATION

Adyton Resources Corporation is focused on the development of gold and copper resources in world class mineral jurisdictions. It currently has a portfolio of highly prospective mineral exploration projects in Papua New Guinea on which it is exploring to expand its identified gold Inferred and Indicated Mineral Resources and expand on its recent significant copper drill intercepts on the 100% owned Feni Island ‎project. The Company’s mineral exploration projects are located on the Pacific Ring of Fire on easy to access island locations which hosts several globally significant copper and gold deposits including the Lihir gold mine and ‎Panguna copper/gold mine on Bougainville Island, both neighboring projects to the ‎Company’s Feni Island project.

Adyton has a total Mineral Resource Estimate inventory within its PNG portfolio of projects comprising indicated resources of 173,000 ounces gold and inferred resources of 2,000,000 ounces gold.

The Feni Island Project currently has a mineral ‎resource prepared in accordance with NI 43-101 dated October 14, 2021, which has outlined an initial inferred ‎mineral resource of 60.4 million tonnes at an average grade of 0.75 g/t Au, for contained gold of 1,460,000 ounces, ‎assuming a cut-off grade of 0.5 g/t Au. See the NI 43-101 technical report entitled “NI 43-101 Technical Report on the Feni Gold-Copper Property, New Ireland ‎Province, Papua New Guinea prepared for Adyton Resources by Mark Berry (MAIG), Simon ‎Tear (MIGI PGeo), Matthew White (MAIG) and Andy Thomas (MAIG), each an independent mining consultant ‎and “qualified person” as defined in NI 43-101,available under Adyton’s profile on SEDAR+ at . Mineral resources are not mineral reserves and have not demonstrated economic viability.

The Fergusson Island Project currently has a mineral resource prepared in accordance with NI 43-101 dated October 14, 2021 which outlined an indicated mineral resource of 4.0 million tonnes at an average grade of 1.33 g/t Au for contained gold of 173,000 ounces and an inferred mineral resource of 16.3 million tonnes at an average grade of 1.02 g/t Au for contained gold of 540,000 ounces. See the technical report entitled “NI 43-101 Technical Report on the Fergusson Gold Property, Milne Bay ‎Province, Papua New Guinea” prepared for Adyton Resources by Mark Berry (MAIG), Simon ‎Tear (MIGI PGeo), Matthew White (MAIG) and Andy Thomas (MAIG), each an independent mining consultant ‎and “qualified person” as defined in NI 43-101,available under the Company’s profile on SEDAR+ at . Mineral resources are not mineral reserves and have not demonstrated economic viability.

Adyton is also quoted on the Frankfurt Stock Exchange under the code 701:GR .

For more information about Adyton and its projects, visit .

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Qualified Person

The scientific and technical information contained in this press release has been prepared, reviewed, and approved by Dr Chris Wilson BSc (Hons), PhD, FAusIMM (CP), FSEG, FGS, the Chief Geologist and a Director of Adyton, who is a “Qualified Person” as defined by National Instrument 43‐101 ‐ Standards of Disclosure for Mineral Projects.

Forward-Looking statements

This press release includes “forward‐looking statements”, including forecasts, estimates, expectations, and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many of which are beyond the control of Adyton. Forward‐Looking statements and information can generally be identified by the use of forward‐looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-Looking statements in this news release include plans pertaining to the drill program, the intention to prepare additional technical studies, the timing of the drill program, uses of the recent drone survey data, the timing of updating key findings, the preparation of resource estimates, and the deeper exploration of high-grade gold and copper feeder systems . The forward‐looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward‐Looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses, and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the projects in a timely manner; the availability of financing on suitable terms for the development; construction and continued operation of the Fergusson Island Project and the Feni Island Project; the ability to effectively complete the drilling program; and Adyton’s ability to comply with all applicable regulations and laws, including environmental, health and safety laws.

Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Adyton’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of managements considered reasonable at the date the statements are made. Although Adyton believes that the expectations reflected in such forward-looking statements are reasonable, such information involves risks and uncertainties, and under reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements expressed or implied by Adyton. Among the key risk factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: impacts arising from the global disruption, changes in general macroeconomic conditions; reliance on key personnel; reliance on Zenex Drilling; changes in securities markets; changes in the price of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave‐ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of and changes in the costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward‐looking statements. Such forward‐looking information represents management’s best judgment based on information currently available. No forward‐looking statement can be guaranteed, and actual future results may vary materially. Readers are cautioned not to place undue reliance on forward-looking statements or information. Adyton Resources Corporation undertakes no obligation to update forward‐looking information except as required by applicable law.

To view the source version of this press release, please visit

SOURCE: Adyton Resources Corporation

MENAFN27032025004218003983ID1109366328

(MENAFN– Newsfile Corp)
Toronto, Ontario–(Newsfile Corp. – March 27, 2025) – Gold Hart Copper Corp. (TSXV: HART) (formerly Vicunau Metals Corp.) (the ” Company “, ” Gold Hart “, or ” HART “) is pleased to announce that drilling has commenced at its Tolita gold-copper-silver porphyry target where the famous Maricunga Gold Belt meets the emerging Vicuña Copper Belt.

“We are thrilled to have launched drilling at this historically significant asset which we believe may be one of the only remaining fully preserved, potentially large scale gold-copper porphyry targets in the Vicuña district of Chile,” stated Isaac Maresky, Chairman and CEO of HART. “The Tolita property has waited nearly 30 years for this critical second phase of drilling since it was long-ago recognized by a top geologist as a unique target for its gold and copper near surface. Our team of geologists have been involved in some of the country’s largest gold and copper discoveries, and deserve a great deal of credit for recognizing Tolita in the early 1990s, maintaining the property, and obtaining all approvals to launch this drill campaign. With the application of modern science including geophysics, and the discovery of a large 2.5km² high-chargeability anomaly, we believe the Gold Hart team is well equipped to properly target the potential of the property.”

The Tolita property is a historically significant gold-copper asset which was first recognized and staked in 1993 – by one of the pioneering geologists of the Maricunga-Vicuña district – for its uniquely high grades of gold and copper on surface. In 1996, a third party company optioned the property and drilled 3 short 200m RC holes, without any geophysics, and yet still hit gold and copper in all 3 holes, including long intercepts of gold and copper (150m and 164m, respectively) close to surface in 2 of the 3 holes. At the time, gold was approximately $300/oz and copper traded below $1.00/lb, and large scale sulphide / porphyry deposits with both gold and copper were often considered less favorable than smaller scale gold-only oxide deposits.

Tolita has had significant trenching (5,600m / 5.6km) with the highest grade trench returning grades up to 52g/t gold equivalent including 4% copper. Tolita has undergone helicopter mag surveys with 4 unique anomalies, but was only drilled to a depth of 200m with 3 short RC holes (out of a planned 8 hole campaign) due to negative gold market sentiment in 1997-1998. When Gold Hart acquired the property, a full geophysical survey was conducted by a recognized geophysics firm, and a large high-chargeability anomaly was discovered that is near surface and almost 2.5km² in size and “interpreted as a copper-gold or gold-copper porphyry system that certainly warrants additional exploration and drilling”. Gold Hart Copper is fully funded for its planned drill campaign.

About Gold Hart Copper

Gold Hart Copper is one of the largest independent land owners surrounding major miners where the famous Maricunga Gold Belt meets the emerging Vicuña Copper Belt in Chile. HART is actively acquiring, exploring and developing its portfolio of gold, copper & silver properties adjacent to the largest gold and copper assets on the continent.

HART’s team of geologists were personally involved in pioneering exploration in the region, leading to some of its greatest gold, copper, and silver deposits, and include the country’s former National Geological Survey head. Specifically, senior Gold Hart geologists were personally involved in the Escondida copper discovery, now the largest copper mine in the world controlled by Rio Tinto and BHP, as well as Cerro Casale, the largest gold-copper discovery in Chile acquired by Barrick and Newmont (GoldCorp) with 59-million ounces of gold and 12.5-billion pounds of copper.

HART has rolled-up a portfolio of historically significant assets surrounding majors, in some cases personally staked by the very same geologists who made the adjacent mega-discoveries, since the early 1990s. Some of the Gold Hart properties have already undergone a first phase of RC drilling, with highly encouraging results of gold, copper, and silver. Gold Hart properties are controlled 100% and not subject to any royalties whatsoever.

HART believes it may be sitting on one of the only fully-preserved untested large-scale gold-copper-silver porphyry targets in the Vicuña District – an asset that was first recognized for its uniquely high grades of gold and copper on surface – and staked by one of the Maricunga-Vicuña district’s pioneering geologists in 1993.

Gold Hart Copper is fully funded for its planned drill campaign.

HART | Gold Hart Copper Corporation – Social Media Channels

LinkedIn:
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Youtube: @GoldHartCopper
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Qualified Person

The technical information contained in this news release related has been reviewed by Mr. Jonathan A. Warner, Executive Vice President of Gold Hart Copper and a Qualified Person within the meaning of NI 43-101.

For further information please contact:

Gold Hart Copper Corp.
Isaac Maresky
Chief Executive Officer and Director
Email: …

Drilling Launch Highlights

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March 2025 Drilling Image 1

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March 2025 Drilling Image 2

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Gold Hart Copper Corp. HART Ticker Square

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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. 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 listing application dated March 14, 2025, a copy of which is available on SEDAR+ ( ) under the Company’s 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 the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit

SOURCE: Gold Hart Copper Corp.

MENAFN27032025004218003983ID1109364149

Firan Technology Group (TSX:FTG) is a Canadian technology leader specializing in printed circuit boards and aerospace components. Listed on the Toronto Stock Exchange, FTG operates in two segments: FTG Circuits and FTG Aerospace. Over 70% of its revenue comes from high-complexity circuits for defence and telecommunications applications.

FTG manufactures custom-printed circuit boards that are the foundation for computer chips and avionic subsystem hardware, including backlit control panels and integrated switch panels. It focuses on high-value, specialized products rather than standard consumer electronics components.

With approximately 75% of total sales from the United States in OEM (original equipment manufacturer) and subcontract markets, FTG is positioned to capitalize on the $8-9 billion North American PCB (printed circuit board) industry.

FTG has ambitious growth targets. It aims to double its size every five years through organic growth and acquisitions while maintaining a debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio below one.

FTG’s strategic focus on operational excellence and expanding into new markets within the aerospace and defence electronics industries drives its vision as a “partner in performance” with leading companies in these sectors.

Is the TSX tech stock a good buy right now?

Firan Technology Group delivered record financial results for the fourth quarter and full year 2024. In the fourth quarter (Q4), it reported revenue of $45 million, while annual sales surpassed $162 million, a 20% increase year over year.

“2024 was another record year for FTG, and our fourth quarter was another record quarter,” said Chief Executive Officer Brad Bourne, highlighting FTG’s strong performance across key metrics. Bookings reached $184.5 million for the year, up 25% from 2023, helping build a robust backlog of $122.4 million, a 26% increase from the previous year.

The printed circuit board and aerospace components manufacturer saw its adjusted EBITDA rise to $25.8 million, compared to $19.4 million in 2023, while adjusted net earnings increased 47% to $10.3 million. FTG maintained a strong balance sheet, ending the year with just $0.7 million in net debt despite investing over $14.7 million.

The company’s circuits business primarily drove its growth, with sales jumping 28% year over year. Comparatively, aerospace sales increased by 3%, but this was hampered by a six-week work stoppage at its Toronto facility earlier in the year.

What’s next for the TSX stock?

FTG is preparing for potential U.S. tariffs under the new administration by diversifying its global footprint. For instance, last December, it acquired FLYHT Aerospace, adding aftermarket revenue streams and expanding its customer base beyond the United States. The company is also establishing a new manufacturing facility in India, with an estimated investment of $2 million.

“The new U.S. administration appears committed to implementing tariffs on imports into the U.S. This could negatively impact FTG as we estimate about $55 million of sales to customers located in the U.S. originate at FTG sites in Canada or China,” Bourne explained.

FTG’s mitigation strategy includes prioritizing non-U.S. customers for its Canadian operations, focusing on Airbus programs over Boeing due to Airbus’s stronger market position, and strategically aligning manufacturing locations with customer geography.

For 2025, FTG expects continued growth driven by the FLYHT acquisition and mid- to high single-digit organic growth, supported by strong demand from commercial aerospace programs like China’s C919 aircraft and its expanding global operations.

Is FTG stock undervalued?

Analysts tracking the tech stock expect it to increase sales from $162 million in 2024 to $203 million in 2026. Comparatively, earnings are forecast to expand from $0.45 per share in 2024 to $0.61 per share in 2026. In the next two years, its free cash flow is forecast to improve to $22.4 million from $6.9 million.

Priced at 11.8 times forward earnings and 8.1 times forward FCF, the tech stock is cheap and trades at a discount almost 60% given consensus price targets.

Firan Technology Group (TSX:FTG) is a Canadian technology leader specializing in printed circuit boards and aerospace components. Listed on the Toronto Stock Exchange, FTG operates in two segments: FTG Circuits and FTG Aerospace. Over 70% of its revenue comes from high-complexity circuits for defence and telecommunications applications.

FTG manufactures custom-printed circuit boards that are the foundation for computer chips and avionic subsystem hardware, including backlit control panels and integrated switch panels. It focuses on high-value, specialized products rather than standard consumer electronics components.

With approximately 75% of total sales from the United States in OEM (original equipment manufacturer) and subcontract markets, FTG is positioned to capitalize on the $8-9 billion North American PCB (printed circuit board) industry.

FTG has ambitious growth targets. It aims to double its size every five years through organic growth and acquisitions while maintaining a debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio below one.

FTG’s strategic focus on operational excellence and expanding into new markets within the aerospace and defence electronics industries drives its vision as a “partner in performance” with leading companies in these sectors.

Is the TSX tech stock a good buy right now?

Firan Technology Group delivered record financial results for the fourth quarter and full year 2024. In the fourth quarter (Q4), it reported revenue of $45 million, while annual sales surpassed $162 million, a 20% increase year over year.

“2024 was another record year for FTG, and our fourth quarter was another record quarter,” said Chief Executive Officer Brad Bourne, highlighting FTG’s strong performance across key metrics. Bookings reached $184.5 million for the year, up 25% from 2023, helping build a robust backlog of $122.4 million, a 26% increase from the previous year.

The printed circuit board and aerospace components manufacturer saw its adjusted EBITDA rise to $25.8 million, compared to $19.4 million in 2023, while adjusted net earnings increased 47% to $10.3 million. FTG maintained a strong balance sheet, ending the year with just $0.7 million in net debt despite investing over $14.7 million.

The company’s circuits business primarily drove its growth, with sales jumping 28% year over year. Comparatively, aerospace sales increased by 3%, but this was hampered by a six-week work stoppage at its Toronto facility earlier in the year.

What’s next for the TSX stock?

FTG is preparing for potential U.S. tariffs under the new administration by diversifying its global footprint. For instance, last December, it acquired FLYHT Aerospace, adding aftermarket revenue streams and expanding its customer base beyond the United States. The company is also establishing a new manufacturing facility in India, with an estimated investment of $2 million.

“The new U.S. administration appears committed to implementing tariffs on imports into the U.S. This could negatively impact FTG as we estimate about $55 million of sales to customers located in the U.S. originate at FTG sites in Canada or China,” Bourne explained.

FTG’s mitigation strategy includes prioritizing non-U.S. customers for its Canadian operations, focusing on Airbus programs over Boeing due to Airbus’s stronger market position, and strategically aligning manufacturing locations with customer geography.

For 2025, FTG expects continued growth driven by the FLYHT acquisition and mid- to high single-digit organic growth, supported by strong demand from commercial aerospace programs like China’s C919 aircraft and its expanding global operations.

Is FTG stock undervalued?

Analysts tracking the tech stock expect it to increase sales from $162 million in 2024 to $203 million in 2026. Comparatively, earnings are forecast to expand from $0.45 per share in 2024 to $0.61 per share in 2026. In the next two years, its free cash flow is forecast to improve to $22.4 million from $6.9 million.

Priced at 11.8 times forward earnings and 8.1 times forward FCF, the tech stock is cheap and trades at a discount almost 60% given consensus price targets.

Canada’s main stock index struggled for direction on Thursday, a day after U.S. President Donald Trump’s announcement of tariffs on auto imports intensified the global trade war.

Toronto Stock Exchange’s S&P/TSX composite index was down 0.04% at 25,151.30.

In a late-night announcement on Wednesday, Trump unveiled his plan to implement 25% tariffs on imported cars and light trucks effective on April 3, the day after he plans to announce reciprocal tariffs aimed at the countries he blames for the bulk of the U.S. trade deficit.

Earlier this week, investor sentiment had slightly improved after Trump indicated that not all of his threatened reciprocal levies would be imposed on April 2 and that some countries may get breaks.

“The short term trading today is completely tied to the announcements and expectations of the tariffs,” said Colin White, president and chief executive officer at Verecan Capital Management.

“But additional announcements from either the U.S. administration or any other administration are going to be very closely scrutinized.”

On TSX, information technology fell for the second straight session, down 1%, the most among all sectors.

TSX rises as potential US tariff exemptions keep spirits high

Blockchain farm operator Bitfarms dropped about 1%, after it reported its fourth-quarter results and bitcoin fell 1.1%.

Consumer discretionery fell 0.6%; Magna International declined the most, down 7%.

Keeping losses in check, materials gained 1.5%, tracking higher gold prices that scaled a record peak, as investors fled to safe-haven assets after Trump’s new tariff announcement.

“Precious metals and energy … have been very positive for maintaining the overall market value of the Canadian market”, White said. Domestic investors are awaiting Canada’s January GDP figures and the U.S. Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditure (PCE) data, that are set to be released on Friday.

• Despite a late upturn, the ASX 200 closed 0.38% in the red on Thursday

• Blame factor 1: Trump and his 25% US auto import tariffs, set to come into play early April

• Blame factor 2: A Wall Street tech rout, which Trump had a hand in, too 

Instead, Thursday took a sharp, Trump-induced droop right out of bed, that levelled out into an afternoon malaise, as this Google graph clearly shows.

Okay, a slight tail up at the very end there almost puts paid to the narrative.

Regarding some macro conditions affecting the local market today, see our Lunch Wrap coverage, which went into most of the details you need to know.

But… to quickly recap, tech stocks took a pounding today on the back of a Wall Street dump across the sector, with AI behemoth Nvidia leading losses with a 6% stumble.

According to reports, fears around the company’s business in China sent investors into a bit of a tizz, after the White House added several Chinese companies to a trade blacklist.

Per a report in The Australian:

The US has added dozens of Chinese companies to a trade blacklist over national security concerns. American businesses seeking to sell technology to these companies will need approval from the government.

One of those companies blacklisted is Inspur Group – China’s largest server maker and one of the key Chinese customers of Nvidia.

The Trump effect didn’t end there, his newly announced 25% US auto import tariffs (set for April 3) also wrought havoc on global markets, with Tesla, among other carmakers, feeling the sting.

Where’s the good news, then? Gold, that’s where. It’s the obvious playbook right now, and for good reason.

Goldman Sachs released a prediction today that the record breaking run in the yellow metal isn’t about to slow down any time soon. In fact, the US investment bank reckons it’s set to turn on the gas even more, noting the medium-term price risks for gold “remain skewed to the upside” and “in tail-risk scenarios, gold can exceed $4,200 by end-2025.”

Meanwhile, Bitcoin’s a ‘safe haven’ like gold, too, right? Right…?

Hmm, we’ll get back to you on that one. The leading crypto is still a risky bet but… it’s travelling pretty darn well all things considered over the past 24 tech-brutalised hours. As it was at lunch, it’s still changing hands for about US$87,400 at the time of publishing this article.

ASX market news

A few headline acts from today…

Discount store chain The Reject Shop (ASX:TRS) had a beaut day, bagging itself a 110% gain on the back of a $259 million takeover offer from Dollarama, a Canadian giant in the bargain basement biz.

Dollarama is based in Montreal and listed on the Toronto Stock Exchange and the takeover, if approved by shareholders, is expected to be completed in the second half of this year.

The takeover has the backing of the Aussie company’s largest shareholder, Kin Group, controlled by billionaire Raphael Geminder.

TRS said it had entered into a binding scheme implementation agreement with Dollarama for the takeover price of $6.68 per share, representing a 112% premium to the company’s most recent closing price.

Tim Boreham gave us a spark of good news earlier in the day, noting the ASX healthcare’s version of the “Magnificent 7” has been in fine fettle despite “the downbeat narrative about US healthcare policy and cuts to funding agencies”.

Per Tim:

Leading  the posse, Syntara (ASX:SNT) shares have soared 90%, followed by Paradigm Biopharmaceuticals (ASX:PAR) (57%), Botanix Pharmaceuticals (ASX:BOT) (48%), and Actinogen Medical (ASX:ACW) (42%).

Telix Pharmaceuticals (ASX:TLX) , Mesoblast (ASX:MSB) and Dimerix (ASX:DXB) shares are around 25% to the good.

Bell Potter says the key thread is that these stocks have moved on company-specific catalysts, which transcend the general market conditions.

Still on healtchcare, Opthea hasn’t shared the good form. Valerina Changarathil at The Australian, noted that investors in ASX-listed biopharma Opthea “remain in brace position” awaiting the outcome of its survival talks with funds providers – following failed trial results in a key clinical study.

Opthea’s shares have been suspended for trading until March 31 following negative topline results from the first of two phase III clinical trials of its lead wet age-related macular degeneration candidate OPT-302.

“The negative results mean it may need to make sizeable payments under its Development Funding Agreement to investors that have security over its assets. Opthea has flagged the possibility of no longer trading as a going concern,” wrote Changarathil.

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Other than the Reject Shop, what else caught the eye today in small caps? These…

Lykos Metals (ASX:LYK) has risen 73% today after  announcing it has raised ~$400,000 via a placement of ~44,42 million fully paid ordinary shares at 0.09 cents (A$0.009) per share.

The placement issue price is at a 18.2% discount to the last close and includes one free attaching unlisted option for  every two shares issued, exercisable at  2 cents ($0.02) with an expiry date of three years  from the date of issue and subject to shareholder approval.

The Funds raised will go towards exploration and development of its existing projects along with new opportunities and working capital. LYK said it “kept the raise small … to minimize dilution” while it looks for new projects. It remains optimistic the Bosnian Government will deliver a ‘near term favourable outcome’ on a renewed grant of its Sockovac (Petrovo) project after Lykos reduced its application area from 44km2 to 10km2, covering its key drill targets.

Sunstone Metals (ASX:STM) is also up 17% today and has been on the fundraising trail, receiving firm commitments for $4m (before costs) via an oversubscribed share placement at 0.5c per share to new, existing institutional and sophisticated shareholders.

STM says placement proceeds  will  be  used  to  fund  working  capital  “as  it  progresses  the ongoing  corporate  discussions  to  a  conclusion”.

The company has been pursuing partnership opportunities to unlock the value of its gold and copper discoveries.

For more, check out today’s Resources Top 5.

ASX SMALL CAP LAGGARDS

Today’s worst performing small cap stocks:

IN CASE YOU MISSED IT

Adisyn (ASX:AI1) has secured early access to an Atomic Layer Deposition (ALD) system through a strategic partnership with Tel Aviv University’s TAU Nano Center. This allows AI1’s semiconductor arm, 2D Generation, to run two ALD systems in parallel, accelerating progress toward a key milestone – depositing graphene on metallic and non-metallic surfaces at sub-300°C.

First Lithium (ASX:FL1) is moving toward a maiden resource estimate for its Blakala lithium project in Mali as the government resumes issuing mining licences. The company has secured $1.2 million in funding to support the licence renewal process and further project development.

Sunshine Metals (ASX:SHN) is raising $3 million to advance drilling at four shallow gold targets in Queensland. Funds will also support metallurgical studies and mining assessments at the Ravenswood consolidated project.

Recharge Metals (ASX:REC) is finalising plans for drilling at its Carter uranium project in Montana, with target generation and geological reviews nearing completion. The team recently visited the site, engaging with key stakeholders and advancing permitting for the next exploration phase.

At Stockhead, we tell it like it is. While Adisyn, First Lithium, Sunshine Metals, Recharge Metals, Chariot Corporation, Singular Health Group and Scorpion Minerals are Stockhead advertisers, they did not sponsor this article.

Originally published as Closing Bell: Tech tumble and Trump tariffs trample Thursday