Author

admin

Browsing

Biotech is a dynamic industry that is driving scientific advances and innovation in healthcare. In Canada, the biotech sector is home to companies pursuing cutting-edge therapies and medical technologies.

Read on to learn what’s been driving these Canadian biotech firms.

1. Eupraxia Pharmaceuticals (TSX:EPRX)

Year-on-year gain: 141.23 percent
Market cap: C$410.85 million
Share price: C$8.25

Eupraxia Pharmaceuticals is developing clinical candidates that employ its DiffuSphere technology, which delivers treatments to the targeted tissues.

The company’s candidates are currently EP-104GI for eosinophilic esophagitis and EP-104IAR for knee osteoarthritis, and it is exploring the use of its technology for other active compounds as well.

Eupraxia added EP-104GI to its pipeline through its acquisition of EpiPharma Therapeutics in late 2023. The company has continued to advance the treatment through clinical trials in 2025 and released multiple rounds of positive data from its Phase 1b/2a trial cohorts.

In July, Eupraxia dosed its first patient after advancing its investigation to Phase 2b trials based on safety and efficacy data from the earlier Phase 2a patient cohorts. Top-line results from the Phase 2b study are anticipated in the second half of 2026.

In September, the company shared data from the highest-dose cohort of the still ongoing Phase 1b/2a trials, reporting that the group saw the largest improvements so far.

2. Bright Minds Biosciences (CSE:DRUG)

Year-on-year gain: 103.17 percent
Market cap: C$683.67 million
Share price: C$92.95

Bright Minds Biosciences is developing novel serotonin agonists targeting neurocircuit abnormalities linked to neuropsychiatric disorders and epilepsy, designing next-generation treatments that aim to retain the therapeutic benefits of psychedelics while minimizing side effects.

Its lead candidate, BMB-101, a selective 5-HT2C receptor agonist, has shown encouraging preclinical efficacy by stopping seizures in an epilepsy mouse model, evaluated jointly with Firefly Neuroscience (NASDAQ:AIFF).

The company’s stock surged nearly 1,500 percent in October 2024 following H. Lundbeck’s acquisition announcement of a competitor focused on similar targets. Strengthening its epilepsy expertise, Bright Minds expanded its scientific advisory board in early 2025 by adding five leaders in the field.

Ongoing clinical progress and strategic growth initiatives position Bright Minds as a promising contender in the neuropsychiatric treatment landscape.

3. Hemostemix (TSXV:HEM)

Year-on-year gain: 31.25 percent
Market cap: C$18.40 million
Share price: C$0.11

Hemostemix is a clinical-stage biotech company focused on developing autologous stem cell therapies, meaning the treatments use a patient’s own cells to theoretically enhance safety and efficacy.

Its main product, ACP-01, is an autologous cell therapy designed to promote tissue repair and regeneration in areas affected by diseases, including a range of heart diseases.

The company announced its first advanced sales orders for ACP-01 in Q1 2025 and has been working to expand internationally and attract new investment.

Hemostemix secured the regulatory green light for commercial sales in Florida after the state passed Senate Bill 1768. The bill creates a framework in which healthcare providers can administer stem cell therapies that had not yet been approved by the US Food and Drug Administration (FDA) but meet the bill’s guidelines.

The company now offers commercial ACP-01 treatments for ischemic pain in the state under the name VesCell, with sales forecasted to reach C$22.5 million in 2026. Operational plans target cash flow positivity by Q4 2026, supported by a growing physician network and commercial pipeline.

Additionally, Hemostemix is currently collaborating with Firefly Neuroscience on a Phase 1 clinical trial of ACP-01 for vascular dementia.

4. NervGen (TSXV:NGEN)

Year-on-year gain: 79.92 percent
Market cap: C$300.97 million
Share price: C$4.39

NervGen is a clinical-stage Canadian biotechnology company that focuses on developing innovative treatments to enable the nervous system to repair itself following damage from injury or disease.

The company’s core technology targets a mechanism that hinders nervous system repair. When the nervous system is damaged, chondroitin sulfate proteoglycans (CSPG) form a “scar.” Initially, CSPGs help contain damage, but their long-term interaction with the PTPσ receptor inhibits repair.

NervGen’s lead drug candidate, NVG-291, is designed to relieve these inhibitory effects to promote nervous system repair. It received fast-track designation from the US FDA.

NervGen is advancing NVG-291 in a Phase 1b/2a clinical trial for spinal cord injury (SCI) and reported positive data from the chronic cohort in June.

NVG-300, a newer preclinical candidate, is being evaluated for ischemic stroke and SCI.

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

This post appeared first on investingnews.com

President Donald Trump called off his meeting in Budapest, Hungary, with Russian President Vladimir Putin because he didn’t see enough progress toward peace — although a future summit hasn’t been ruled out, according to the White House. 

While Trump and Putin spoke over the phone Oct. 16, plans for the meeting were scrapped after Secretary of State Marco Rubio’s call with Russian Foreign Minister Sergey Lavrov Tuesday.

Trump ‘feels as though, unfortunately, from the Russian side as of late, he has not seen enough interest in enough action in terms of moving the ball forward toward peace,’ White House press secretary Karoline Leavitt told reporters Thursday. ‘And so a meeting between these two leaders is not completely off the table. I think the president and the entire administration hopes that one day that can happen again, but we want to make sure that there’s a tangible positive outcome out of that meeting, and that it’s a good use of the president’s time.’ 

Trump also has signaled in recent days that his patience has worn thin with Russia, and his administration slapped stringent sanctions on Russia’s two largest oil companies Wednesday. 

Specifically, the sanctions freeze all U.S.-linked assets from the two companies and bar U.S. citizens from engaging in any business with them. 

In response, Putin called the sanctions an ‘unfriendly act,’ and warned that global oil prices could increase as a result. However, he also said that the sanctions would not majorly impact Moscow’s economy. 

While Trump routinely has said in recent months that he has pleasant conversations with Putin, he’s also voiced frustration at the lack of progress made as he’s sought to mediate an end to the conflict. Trump also said Tuesday that he didn’t want to have a ‘wasted meeting’ with Putin in Hungary. 

‘The president wants to see action, not just talk,’ Leavitt said. ‘And I think the president is extremely motivated by the success of his peace deal in the Middle East to get things done, and he wants this war to come to an end. He’s been saying it now for nine months, being in office, and he’s grown increasingly frustrated with the lack of progress from both sides of this war.’ 

Trump met with Ukrainian President Volodymyr Zelenskyy Friday, and NATO Secretary-General Mark Rutte Wednesday to address ongoing negotiations to end the conflict. 

On Wednesday, Trump told reporters the meeting with Putin ‘didn’t feel right,’ and explained why he wasn’t interested in arming Ukraine with Tomahawk missiles like he’d previously suggested he might. 

‘There is a tremendous learning curve with the Tomahawk. It’s a very powerful weapon, very accurate weapon,’ Trump said Wednesday. ‘And maybe that’s what makes it so complex. But it will take a year. It takes a year of intense training to learn how to use it, and we know how to use it. And we’re not going to be teaching other people. It will be just too far out into the future.’

Meanwhile, Trump has voiced skepticism recently about whether Ukraine can win against Russia.

‘They could still win it. I don’t think they will, but they could still win it,’ Trump told reporters Monday.

The Associated Press contributed to this report. 

This post appeared first on FOX NEWS

Mayor Eric Adams formally endorsed former Gov. Andrew Cuomo to replace him as the next mayor of New York City on Thursday, less than one month after Adams suspended his re-election campaign.

The endorsement followed Wednesday night’s final mayoral debate, where Cuomo, who is running as an Independent, faced off against Democratic nominee Zohran Mamdani and Republican candidate Curtis Sliwa. Rather than speak to reporters after the debate, Cuomo dashed off to Madison Square Garden to watch the end of the New York Knicks game courtside with Adams.

‘I’m fighting for the family of New York,’ Adams said. ‘That’s why I’m here today, to endorse Andrew Cuomo, to be part of this fight, and I’m going to give him my all these next few days to make sure that Black and Brown communities, specifically, who have believed there’s nothing at stake in this election for them. It is.’

‘Am I angry that I’m not the one taking down Zohran, the socialist and the communist?’ Adams said, eliciting President Donald Trump’s moniker for Mamdani. ‘You’re darn right I am. But, you know what, the city means more to me than anything, and it is time for us as a family to come together.’

‘Today confirms what we’ve long known: Andrew Cuomo is running for Eric Adams’ second term,’ Mamdani said in a statement Thursday. ‘It’s no surprise to see two men who share an affinity for corruption and Trump capitulation align themselves at the behest of the billionaire class and the president himself. We are going to turn the page on the politics of big money and small ideas that these two disgraced executives embody and build a city every New Yorker can afford.’

Mamdani reiterated his criticism of the endorsement during a campaign event in Manhattan on Thursday.

‘We also know that this is the art of the deal,’ Mamdani said before adding, ‘We know that in a moment when New Yorkers are looking for an answer to the authoritarianism that we’re seeing from Washington, D.C., they don’t want the continuation of making City Hall into an embassy of that same administration.’

Adams has aligned with Trump since he was elected in November, visiting both Mar-a-Lago and the White House. Trump’s Justice Department dropped bribery, wire fraud and conspiracy charges against Adams earlier this year. 

Gov. Kathy Hochul, D-N.Y., weighed removing Adams from office following a slew of City Hall resignations after Adams’ case was dropped. Hochul has since endorsed Mamdani’s campaign, although Mamdani has yet to endorse Hochul’s re-election campaign. 

Pressure had been mounting since Mamdani won the Democratic primary for Adams or Cuomo to drop out of the race to consolidate support against Mamdani.

‘The mayor put his own personal ambition and ego aside to make sure he’s doing everything he can to make sure that New York remains New York,’ Cuomo said Thursday.

Adams announced he was suspending his campaign in a video on Sunday, Sept. 28, prompting the leading mayoral candidates to sharpen their political jabs against each other.

Similar pressure from billionaires, including Red Apple Media CEO John Catsimatidis and hedge fund CEO Bill Ackman, has intensified this week for Sliwa to drop out of the race in order to clear a pathway to victory for Cuomo.

The Democratic nominee, who handily defeated Cuomo in the primary, elicited Adams’ own words against the former governor in the days after he suspended his re-election campaign.

‘Even hearing Eric Adams, the way that he described Andrew Cuomo as a snake and a liar, is something that I’ve heard from a number of New Yorkers in wanting to turn that page,’ Mamdani said.

While Adams and Cuomo have had their fair share of disagreements, the Democrats agreed on Thursday that Mamdani should not become the next mayor of New York City. Adams addressed his own criticism of Adams during the announcement Thursday. 

‘He called me names. But you know what? Now it’s time to fight for the family, and I’m going to fight for the family with Andrew Cuomo as the next mayor of the city of New York,’ Adams said. 

The latest Fox News survey, conducted Oct. 10-14, ahead of the first general election debate last week, revealed that Mamdani has a substantial lead in the race. According to the poll, Mamdani has a 21-point lead among New York City registered voters with 49% of voters backing Mamdani, while 28% go for Cuomo and 13% favor Sliwa.

Mamdani also rose above the 50% threshold among likely voters, garnering 52% support, while Cuomo picked up 28%, and Sliwa received just 14%.

But as Mamdani, ever the social media-savvy candidate, warned his followers on Wednesday, it was Cuomo who was the favorite to win the nomination just weeks before the Democratic primary.

By consolidating support with New York City Comptroller Brad Lander, and cross-endorsing each other to topple Cuomo through ranked-choice voting, Mamdani pulled off the political upset that has since landed him on the national stage.

This post appeared first on FOX NEWS

President Donald Trump is ‘not interested’ in making peace with Colombian President Gustavo Petro, the White House said Thursday, as tensions between Washington and Bogotá continue to escalate.

‘I don’t think we’re seeing de-escalation from the unhinged leader of Colombia right now,’ press secretary Karoline Leavitt told reporters during a White House briefing when asked what Petro could do to reduce tensions.

‘I don’t think the president, frankly, is interested in that at this point,’ Leavitt added.

Relations between the two countries have sharply deteriorated after Petro accused the U.S. of killing innocent fishermen during strikes targeting narco-traffickers in the Caribbean.

Following Petro’s accusation, Trump announced plans to cut off all counter-narcotics aid to Colombia and impose new tariffs on the country.

Trump lashed out at his South American counterpart, calling him a ‘thug’ who is ‘making a lot of drugs.’

‘They’re doing very poorly, Colombia. They make cocaine. They have cocaine factories … and he better watch it or we’ll take very serious action against him and his country,’ Trump said. ‘What he has led his country into is a death trap.’

Petro fired back, threatening to sue Trump in U.S. court.

‘From the slanders that have been cast against me in the territory of the United States by high-ranking officials, I will defend myself judicially with American lawyers in the American justice system,’ Petro wrote on X. ‘I will always stand against genocides and murders by those in power in the Caribbean.’

‘When our help is required to fight against drug trafficking, American society will have it. We will fight against the drug traffickers with the states that want our help,’ he added.

Petro has sought closer ties with Venezuelan dictator Nicolás Maduro while distancing Colombia — a major non-NATO ally — from the United States.

Meanwhile, the U.S. has conducted eight strikes on vessels believed to be transporting narcotics from Latin America. The world is now watching to see whether Trump will follow through on threats to strike Venezuelan soil — or even target Maduro himself, directly or indirectly.

Trump confirmed that he had authorized the CIA to conduct covert operations inside Venezuela and also warned Colombia could face similar consequences.

‘Petro, a low rated and very unpopular leader, with a fresh mouth toward America, better close up these killing fields immediately,’ Trump wrote on Truth Social, ‘or the United States will close them up for him, and it won’t be done nicely.’

In a statement to Fox News Digital, the Colombian Embassy in Washington sought to ease tensions, saying the U.S. representative in Bogotá recently met with Petro and that ‘both sides agreed to continue dialogue in a spirit of cooperation and mutual respect. The meeting reaffirmed the shared commitment towards efforts against illicit drug trafficking, grounded in accuracy, coordination, and security.’

This post appeared first on FOX NEWS

Former Special Counsel Jack Smith is requesting to testify in open, public hearings before the House and Senate Judiciary Committees, Fox News Digital has learned.

Fox News Digital exclusively obtained a letter Smith’s attorneys sent to House Judiciary Committee Chairman Jim Jordan and Senate Judiciary Committee Chairman Chuck Grassley Thursday afternoon, after both panels signaled interest in testimony from the former special counsel.

‘Given the many mischaracterizations of Mr. Smith’s investigation into President Trump’s alleged mishandling of classified documents and role in attempting to overturn the results of the 2020 election, Mr. Smith respectfully requests the opportunity to testify in open hearings before the House and Senate Judiciary Committees,’ Smith attorneys Lanny Breuer and Peter Koski wrote.

‘During the investigation of President Trump, Mr. Smith steadfastly adhered to established legal standards and Department of Justice guidelines, consistent with his approach throughout his career as a dedicated public servant,’ they wrote.

‘He is prepared to answer questions about the Special Counsel’s investigation and prosecution, but requires assurance from the Department of Justice that he will not be punished for doing so,’ they continued. ‘To that end, Mr. Smith needs guidance from the Department of Justice regarding federal grand jury secrecy requirements and authorization on the matters he may speak to regarding, among other things, Volume II of the Final Report of the Special Counsel, which is not publicly available.’

Smith’s attorneys also noted that in order to provide ‘full and accurate answers to your questions, Mr. Smith requires access to the Special Counsel files, which he no longer has the ability to access.’

‘With the guidance and access described above, Mr. Smith is available to testify in an open hearing at your earliest convenience,’ they wrote.

A source familiar told Fox News Digital that Smith’s attorneys are planning to officially seek guidance from the Department of Justice on the matter.

The letter from Smith’s attorneys comes after Jordan, R-Ohio, requested Smith appear for a closed-door transcribed interview and provide all records from his work related to President Donald Trump.

The letter also comes after Grassley, R-Iowa, and nearly two dozen Senate Republicans demanded that the Department of Justice and FBI release documents on Smith’s decision to subpoena telecommunications companies for phone records of a number of Senate Republicans during his probe into Jan. 6, 2021.

Fox News Digital exclusively reported earlier in October that Smith tracked the private communications and phone calls of GOP Sens. Lindsey Graham of South Carolina, Marsha Blackburn of Tennessee, Ron Johnson of Wisconsin, Josh Hawley of Missouri, Cynthia Lummis of Wyoming, Bill Hagerty of Tennessee, Dan Sullivan of Alaska, Tommy Tuberville of Alabama and GOP Rep. Mike Kelly of Pennsylvania as part of his ‘Arctic Frost’ investigation.

An official said the records were collected in 2023 by Smith and his team after subpoenaing major telephone providers. 

An FBI official told Fox News Digital that Smith and his team tracking the senators were able to see which phone numbers they called, the location the phone call originated and the location where it was received.

A source said the calls were likely in reference to the vote to certify the 2020 election. 

Smith, though, called his decision to subpoena several Republican lawmakers’ phone records ‘entirely proper’ and consistent with Justice Department policy.

‘As described by various Senators, the toll data collection was narrowly tailored and limited to the four days from January 4, 2021 to January 7, 2021, with a focus on telephonic activity during the period immediately surrounding the January 6 riots at the U.S. Capitol,’ Smith’s lawyers wrote Tuesday to Grassley. 

Smith was appointed special counsel by Attorney General Merrick Garland in November 2022.

Smith, after months of investigating, charged Trump in the U.S. District Court for Washington, D.C., in his 2020 election case, but after Trump was elected president, Smith sought to dismiss the case. Judge Tanya Chutkan granted that request. 

Smith’s case cost taxpayers more than $50 million. 

‘Jack Smith certainly has a lot of answering to do, but first, Congress needs to have all the facts at its disposal,’ Grassley told Fox News Digital Thursday. ‘Hearings should follow once the investigative foundation has been firmly set, which is why I’m actively working with the DOJ and FBI to collect all relevant records that Mr. Smith has had years to become familiar with.’

Fox News Digital reached out to Jordan for comment and has yet to receive a reply. 

Fox News’ Ashley Oliver contributed to this report. 

This post appeared first on FOX NEWS

The American cattle ranching industry is blasting President Donald Trump’s proposal to purchase beef from Argentina in an effort to lower supermarket beef prices.

“This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices,” Colin Woodall, CEO of the National Cattlemen’s Beef Association, said in a statement Monday.

Wyoming-based cattle operation Meriwether Farms addressed Trump directly in a social media post Monday.

“We love you and support you — but your suggestion to buy beef from Argentina to stabilize beef prices would be an absolute betrayal to the American cattle rancher,” the farm wrote on X.

By midday Tuesday, the post had already received 4 million views. A representative for Meriwether Farms did not immediately respond to a request for comment.

Trump floated purchasing beef from the South American nation Sunday aboard Air Force One to push down U.S. beef prices by increasing the overall supply.

‘We would buy some beef from Argentina,’ he told reporters, ‘If we do that, that will bring our beef prices down.’

Beef prices have hit record highs this year, according to data from the Bureau of Labor Statistics, fueled in part by depleted herd counts and steady demand from U.S. consumers.

This post appeared first on NBC NEWS

Two federal judges admitted that members of their staff used artificial intelligence to prepare court orders over the summer that contained errors.

The admissions, which came from U.S. District Judge Julien Xavier Neals in New Jersey and U.S. District Judge Henry Wingate in Mississippi, came in response to an inquiry by Sen. Chuck Grassley, R-Iowa, who chairs the Senate Judiciary Committee.

Grassley described the recent court orders as ‘error-ridden.’

In letters released by Grassley’s office on Thursday, the judges said the rulings in the cases, which were not connected, did not go through their chambers’ usual review processes before they were released.

The judges both said they have since adopted measures to improve how rulings are reviewed before they are posted.

Neals said in his letter that a June 30 draft decision in a securities lawsuit ‘was released in error – human error – and withdrawn as soon as it was brought to the attention of my chambers.’

The judge said a law school intern used OpenAI’s ChatGPT to perform legal research without authorization or disclosure that he also said was contrary to the chamber’s policy and relevant law school policy.

‘My chamber’s policy prohibits the use of GenAI in the legal research for, or drafting of, opinions or orders,’ Neals wrote. ‘In the past, my policy was communicated verbally to chamber’s staff, including interns. That is no longer the case. I now have a written unequivocal policy that applies to all law clerks and interns.’

Wingate said in his letter that a law clerk used Perplexity ‘as a foundational drafting assistant to synthesize publicly available information on the docket,’ adding that releasing the July 20 draft decision ‘was a lapse in human oversight.’

‘This was a mistake. I have taken steps in my chambers to ensure this mistake will not happen again,’ the judge wrote.

Wingate had removed and replaced the original order in the civil rights lawsuit, declining at the time to give an explanation but saying it contained ‘clerical errors.’

Grassley had requested that the judges explain whether AI was used in the decisions after lawyers in the respective cases raised concerns about factual inaccuracies and other serious errors.

‘Honesty is always the best policy. I commend Judges Wingate and Neals for acknowledging their mistakes and I’m glad to hear they’re working to make sure this doesn’t happen again,’ Grassley said in a statement.

‘Each federal judge, and the judiciary as an institution, has an obligation to ensure the use of generative AI does not violate litigants’ rights or prevent fair treatment under the law,’ the senator continued. ‘The judicial branch needs to develop more decisive, meaningful and permanent AI policies and guidelines. We can’t allow laziness, apathy or overreliance on artificial assistance to upend the Judiciary’s commitment to integrity and factual accuracy. As always, my oversight will continue.’

Lawyers have also faced scrutiny from judges across the country over accusations of AI misuse in court filings. In response, judges have issued fines or other sanctions in several cases over the past few years.

Reuters contributed to this report.

This post appeared first on FOX NEWS

A group that includes activist investor Jana Partners and NFL player Travis Kelce says it has accumulated one of the largest ownership stakes in Six Flags Entertainment and intends to press the company’s leadership on ways to improve the struggling amusement park operator’s business.

Jana said Tuesday that the investor group now owns an economic interest of approximately 9% in Six Flags. The group plans to ‘engage’ with Six Flags’ management and board of directors to discuss ways to enhance shareholder value and improve visitors’ experience.

Shares in the Charlotte, North Carolina-based Six Flags surged 17.7% on the news. The shares added another 5.1% gain in after-hours trading. Even with Tuesday’s rally, the company’s shares are down about 47% so far this year.

Six Flags reported a loss of $319.4 million for the first half of the year. The company said attendance fell 9% in the three months that ended June 29, due partly to bad weather and a ‘challenged consumer’ in most of the markets it operates in.

The investor group also includes consumer executive Glenn Murphy and technology executive Dave Habiger.

Kelce, tight end for the Kansas City Chiefs, said in a statement that he grew up going to Six Flags amusement parks.

‘The chance to help make Six Flags special for the next generation is one I couldn’t pass up,’ he said.

This post appeared first on NBC NEWS

IAMGOLD (TSX:IMG,NYSE:IAG) is tightening its grip on one of Québec’s most promising gold districts with back-to-back acquisitions aimed at consolidating control over a vast stretch of the Chibougamau region.

In the span of two days, the mid-tier gold producer announced definitive agreements to acquire Northern Superior Resources (TSXV:SUP,OTCQB:NSUPF) and Mines d’Or Orbec (TSXV:BLUE).

Collectively the deals will expand its landholding to more than 100,000 hectares.

The larger of the two transactions will see IAMGOLD acquire all issued and outstanding shares of Northern Superior Resources in a cash-and-stock deal valued at approximately C$267.4 million.

The acquisition will fold Northern Superior’s Philibert, Chevrier and Croteau projects into IAMGOLD’s existing Nelligan and Monster Lake holdings, creating what the company has branded the Nelligan Mining Complex.

Together, these properties host estimated measured and indicated mineral resources of 3.75 million ounces of gold and inferred resources of 8.65 million ounces, positioning the district as Canada’s fourth largest pre-production gold camp.

“The addition of Northern Superior’s assets to IAMGOLD’s Nelligan Mining Complex in the Chibougamau region of Québec is extremely exciting for IAMGOLD, the region and our mutual shareholders,” said Renaud Adams, IAMGOLD’s president and CEO. “This acquisition aligns with our strategy to become a leading Canadian-focused mid-tier gold producer, bolstering our organic pipeline in Québec where we have maintained a longstanding presence.”

A day earlier, IAMGOLD struck a deal to acquire Mines d’Or Orbec, a junior explorer advancing the Muus project southwest of Chibougamau. IAMGOLD already holds a 6.7 percent equity interest in Orbec and expects to issue roughly 369,000 new shares to complete the purchase. The transaction will bring Muus under IAMGOLD’s control.

Located at the intersection of the Fancamp and Guercheville deformation zones, which are two major mineralized corridors that also host IAMGOLD’s Monster Lake and Nelligan deposits, the 24,979 hectare Muus project has been viewed as a geological link between the company’s existing holdings.

“Over the past several years, we have advanced the Muus project into one of Québec’s most promising gold exploration plays,” Orbec CEO John Tait said.

With the addition of both Northern Superior and Orbec, IAMGOLD is set to more than double its regional footprint.

The company has signaled its intent to pursue a “hub-and-spoke” development strategy in the region, envisioning a central processing facility fed by multiple ore sources within a 17 kilometre radius.

Pending regulatory and shareholder approvals, both acquisitions are expected to close in late 2025 or early 2026.

The price of gold has surged to unprecedented levels this month, reaching an all-time high of around US$4,370 per ounce amid heightened safe-haven demand and expectations of US interest-rate cuts.

However, on Tuesday (October 21), a correction began to set in as the yellow metal pulled back sharply. It fell as much as 5.5 percent to about US$4,115 as profit taking kicked in and the US dollar strengthened.

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

This post appeared first on investingnews.com