Jindalee Lithium (JLL:AU) has announced Despatch of SPP Offer Documents
Download the PDF here.
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Volatility punctuated the global lithium market during the third quarter of 2025, as prices, supply/demand dynamics and geopolitics converged to reshape the landscape.
After slipping to a four year low at the end of June, benchmark lithium carbonate prices rallied through July to reach an 11 month high of US$12,067 per metric ton on August 21. However, the momentum proved unsustainable and prices slipped shortly thereafter, ending the three month session at US$11,185.89.
According to Fastmarkets, the surge was driven by rumors that Australian producers Mineral Resources (ASX:MIN,OTC Pink:MALRF) and Liontown Resources (ASX:LTR,OTC Pink:LINRF) might scale back supply.
Both companies denied the reports, and analysts have suggested that even if such reductions were implemented, they would do little to rebalance the current surplus in the lithium market.
“The nascency of the lithium market means that it is prone to be led by sentiment,” Fastmarket’s Claudia Cook wrote in a July update. “However, with healthy inventory levels and continued ramp-up of production, the reported supply cuts, even if they proved true, may not be enough to dip the market into a deficit.”
US policy uncertainty also weighed on sentiment. The Trump administration’s bill to roll back electric vehicle (EV) tax credits, alongside tariff concerns and a perceived retreat from the Inflation Reduction Act, rattled investors.
The repeal had the potential to spur a short-term rush in EV purchases, although liquidity in North America remains thin, and the medium-term outlook has turned bearish, Cook noted.
Elsewhere China’s fair competition policy — intended to curb market monopolies and prevent below-cost dumping — stirred speculation across the lithium supply chain. Though the directive primarily targets downstream industries, traders are watching closely to see whether it will ripple upstream and influence pricing dynamics.
Oversupply expected to meet rising lithium demand
The largest undercurrent for the lithium market is excessive supply. Since 2020, mined output has climbed 192 percent from 82,000 metric tons to 240,000 metric tons in 2024, as outlined by the US Geological Survey.
As supply grew, demand was unable to keep pace, leading to a mounting glut that has weighed on prices.
“While futures activity can catalyse short-term price movements, beneath the surface demand remains tepid, inventories high and buyers cautious, underscoring a disconnect between price action and market reality,” Paul Lusty, head of battery raw materials at Fastmarkets explained in a September update. “We expect continued price instability in the near term with potential for further corrections unless meaningful supply disruptions materialise.”
The supply increase was anticipated to satiate a growing appetite for EVs that has yet to fully materialize.
The EV boom has fueled strong long-term growth forecasts for lithium, but the market is now facing a sharp imbalance. Global EV sales climbed past 17 million units in 2024 and are projected to top 20 million in 2025, yet a 22 percent surge in mined supply last year has outpaced demand, pushing prices lower and creating a persistent oversupply.
This discrepancy was underscored by industry attendees at Fastmarkets’ Lithium Supply & Battery Raw Materials conference, who warned that the imbalance could persist until at least 2030.
As a result, lithium prices remain under pressure despite strong EV uptake, and a meaningful re-balancing will likely depend on new supply expansions being delayed, mine closures and steeper than anticipated demand growth — potentially in the second half of the decade.
With EV demand expected to accelerate beyond 2030 and new supply projects lagging, Q3 2025 could mark the start of a tighter era. For investors watching battery metals, the key question is whether the market has found a floor — or is merely in the calm before the next supply squeeze.
Chinese lithium supply and access in question
As mentioned, the market did find support through July and August, thanks in part to Chinese battery giant Contemporary Amperex Technology (CATL) (SZSE:300750,HKEX:3750) suspending operations at its Jianxiawo lepidolite mine. Located in the country’s Jiangxi province, it is one of the world’s largest lithium sources.
The shutdown followed the August 9 expiration of the mine’s operating permit, with CATL confirming it is seeking an extension but providing no timeline for restarting production. The halt was expected to last at least three months, removing about 65,000 metric tons of lithium carbonate equivalent — roughly 6 percent of global supply — from the market and reigniting bullish sentiment in an otherwise oversupplied sector.
The shuttering of the mine propelled lithium prices and mining stocks.
In mid-October China introduced new export restrictions on advanced lithium-ion batteries, key materials and production equipment — a move set to ripple through global supply chains.
Effective November 8, 2025, companies will now need export licenses to ship high-energy batteries, cathodes, synthetic graphite anodes and related machinery abroad. The new policy follows July’s limits on lithium iron phosphate (LFP) technology exports, tightening Beijing’s control over the battery sector.
China produces over 70 percent of global cathode materials and more than 95 percent of synthetic graphite, making its export decisions pivotal. S&P Global notes in an October briefing that the new controls are expected to delay production timelines and complicate sourcing for manufacturers outside China, particularly in the US, which imports roughly two-thirds of its lithium-ion batteries from Chinese suppliers.
“Export control does not mean an outright export ban, but rather a stricter approval process,” said Fastmarkets’ Walter Zhang. “We believe that the primary intent is to counter measures such as the US OBBB (One Big Beautiful Bill) Act, while preventing potential technology transfer demands from European or American governments and avoiding the military or dual-use applications of advanced battery technologies.”
Additionally, the move adds a new front to the US-China trade standoff, with Washington expected to deepen partnerships with Korean and Japanese producers like LG Energy Solution and Panasonic to reduce dependency.
While China’s CATL will likely pivot toward Europe and emerging markets, global battery costs and supply volatility are expected to rise through 2026.
US government makes lithium push
Outside of China, the US invested heavily in the lithium-mining segment in Q3.
On October 1, Washington released the first US$435 million tranche of a landmark US$2.23 billion loan to Lithium Americas (TSX:LAC,NYSE:LAC), marking one of the Trump administration’s most significant steps yet to strengthen domestic control over critical minerals.
The funds, directed through the Department of Energy, will support construction of the Thacker Pass lithium project in Nevada, which is set to become the largest lithium source in the Western Hemisphere.
As part of the deal, the department will receive warrants representing a 5 percent equity stake in Lithium Americas and an equivalent interest in its joint venture with General Motors (NYSE:GM).
The agency also agreed to defer US$182 million in debt service over five years, underscoring Washington’s long-term commitment to building a resilient battery supply chain.
Thacker Pass is central to US efforts to reduce reliance on Chinese lithium refining and rival major producers in Australia and Chile. Once operational, Phase 1 of the project will produce 40,000 metric tons of battery-grade lithium carbonate annually — enough to power roughly 800,000 EVs — and reinforce the administration’s push to secure supply.
Looking at the rest of the year and remainder of the decade sentiment towards lithium is cautiously optimistic, according to Benchmark analysts fresh off the heels of this year’s LME Week in London.
“Market participants noted that strong spodumene appetite continues amid limited lepidolite supply from Jiangxi,” a Benchmark overview states. “Attention turned to CATL’s Jianxiawo mine, with its start‑up – whether as soon as next month or delayed to early Q1 26 – likely to influence short‑term pricing.”
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Investor and author Gianni Kovacevic discusses silver’s price pullback, saying that in the long term he sees the white metal reaching triple digits.
He expects oil prices to reach that level too, but emphasized that he sees lithium as the truly contrarian play for the rest of 2025 and into next year.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Investor Insight
Apollo Silver is advancing two high-impact silver projects in premier North American jurisdictions—California and Chihuahua—offering investors a unique combination of scale, optionality, and leverage to silver and critical mineral demand.
Overview
Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE: 6ZF0) is a silver-focused company advancing a dual-asset strategy centered on two high-impact projects in North America: the Calico silver project in California, USA and the Cinco de Mayo project in Chihuahua, Mexico. Both are located in mining-friendly jurisdictions with strong infrastructure and significant historical work.
At Calico, Apollo Silver is advancing the Waterloo deposit toward development through geological modeling, barite resource definition, and engineering studies. Calico boasts 125 Moz of silver (measured and indicated) and 58 Moz of silver (inferred), and recent test work has produced a 94.6 percent barite concentrate, supporting the asset’s potential as a US critical minerals supplier.
In Mexico, Cinco de Mayo offers rare optionality with a historical inferred resource of 154 Moz silver equivalent (385 g/t), and a potentially game-changing discovery at the Pegaso Zone. The project is under an option agreement between Apollo Silver and Pan American (previously MAG Silver), wherein Apollo Silver will complete a 20,000-meter drill program to convert the option to an acquisition of the Cinco de Mayo. Apollo Silver’s strategy is underpinned by disciplined capital allocation, high-impact exploration, and a proven ability to acquire and unlock value from high-quality assets—following a model similar to Prime Mining. With no debt, strong institutional backing, and an experienced team, Apollo Silver is well-positioned to deliver scalable, discovery-driven growth in a rising silver and critical minerals market.
Company Highlights
- Tier-1 US Silver Asset – Calico Project: Hosts 125 Moz silver (Measured and Indicated) and 58 Moz silver (inferred), making it the largest undeveloped primary silver deposit in the US.
- Barite & Zinc Critical Minerals Exposure: Calico includes an Indicated resource estimate of 2.7 Mt of barite and 354M lbs of zinc and an Inferred resource estimate of 0.65Mt of barite and 258M lbs of zinc.
- High-grade Discovery Potential – Cinco de Mayo: An option to acquire a district-scale carbonate replacement deposit with a historical inferred resource of 154 Moz silver equivalent at 385 g/t, offering further upside from the Pegaso Zone discovery target.
- Strategic Shareholder Registry: Backed by Jupiter Asset Management, Eric Sprott, Terra Capital, Commodity Capital and Ninepoint.
- Experienced Leadership Team: Proven M&A, discovery and capital markets expertise with over $5 billion in past transactions and most applicable to Apollo Silver, the success at Prime Mining.
Key Projects
Calico Project
The Calico silver project comprises three adjacent properties—Waterloo, Langtry and Mule—located in mining-friendly San Bernardino County, 15 km from Barstow, California. Resources at Calico sit primarily on private land with vested mining rights, simplifying the path to permitting. Infrastructure is excellent: paved roads, power lines within 5 km, and proximity to the expanding Barstow rail terminal.
Using a 47 g/t silver equivalent cut-off grade, the Waterloo Deposit includes 125 M oz of silver in in 55Mt at an average grade of 71 g/t silver in the Measured and Indicated categories, and 0.51 Moz silver in 0.6 Mt at an average of 26 g/t silver in the Inferred category. The Langtry Deposit now contains 57 Moz silver in 24 Mt at an average grade of 73 g/t in the Inferred category, using a 43 g/t silver cut-off grade. The deposits are approximately 2 km apart, shallow, laterally extensive, and exhibit excellent geologic continuity. The mining concept would be a potential open-pit operation, with a minimal environmental footprint and where Waterloo would have a low strip ratio of 0.8:1.
Apollo Silver recently added critical mineral resources for both barite & zinc at the Calico project. Barite has shown recoveries above 94.6 percent in earlier test work. Waterloo includes an Indicated resource estimate of 2.7 Mt of barite and 354M lbs of zinc at an average grade of 7.4 percent barite and 0.45 percent zinc at a cut-off grade of 47 g/t silver equivalent. It also contains Inferred resource estimate of 0.65Mt of barite and 258M lbs of zinc, at an average grade of 3.9 percent barite and 0.71 percent zinc at a cut-off grade of 47 g/t silver equivalent.
The company has recently acquired 2,215 hectares of highly prospective claims contiguous to its Waterloo property at the Calico silver project referred to as the Mule claims comprising 418 lode mining claims. The Mule claims expand the Calico Project land package by over 285 percent, from 1,194 ha to 3,409 ha of contiguous claims.
Having recently announced its mineral resource estimate, ongoing 2025-26 programs are contemplated to include exploration for additional gold mineralization, with a subsequent targeted drill program contingent on positive early results, and metallurgical and geotechnical work program on Waterloo.
Cinco de Mayo Project
Cinco de Mayo is a district-scale carbonate replacement deposit (CRD) system located in Chihuahua, Mexico along the same NW-SE structural trend that hosts some of the country’s largest silver and base metal deposits. The project was historically MAG Silver’s flagship asset, hosting a 2012 historical mineral resource estimate prepared by RPA. At an NSR cut-off of US$100/t, the Inferred resources were estimated to total 12.45 Mt at 132 g/t silver, 0.24 g/t gold, 2.86 percent lead, and 6.47 percent zinc. The total contained metals in the resource were 52.7 Moz of silver, 785 Mlbs of lead, 1,777 Mlbs of zinc, and 96,000 ounces of gold. Notably, a significant mineralized intercept—including 61 meters of massive sulphides—was drilled by MAG Silver in the Pegaso Zone beneath the known resource but never followed up due to social access issues.
The site also includes the Pozo Seco deposit, which hosts an additional historical resource consisting of 29.1 Mt grading 0.147 percent molybdenum and 0.25 g/t gold, containing 94.0 Mlbs of molybdenum and 230,000 oz of gold, in the Indicated resource category. An Inferred Mineral Resources were estimated at 23.4 Mt grading 0.103 percent molybdenum and 0.17 g/t gold, containing 53.2 Mlbs of molybdenum and 129,000 oz of gold. Cut-off grade used in the 2010 technical report was 0.022 percent molybdenum.
Apollo Silver has secured an option to acquire the Cinco de Mayo property from Pan American (previously Mag Silver) and is re-engaging with the local community to secure surface access. A new, development-friendly ejido administration, elected in December 2024, has created an opportunity to negotiate a mutually beneficial agreement for access rights. Once secured, Apollo plans to launch a 20,000-meter drill campaign, with priority targets at Pegaso and expansion zones at Jose Manto.
Under the option agreement with Pan American, Apollo must secure surface access, complete the 20,000 meters of drilling, and issue 19.99 percent of its common shares to finalize the acquisition. The company is also evaluating metallurgical studies and engineering reviews to support a future resource update.
Management Team
Andrew Bowering – Chairman of the Board
A venture capitalist with over 30 years of operational experience, Andrew Bowering has raised over $500 million in value and capital for companies within the natural resources industry. He is the founder of Millennial Lithium and American Lithium, and he is a director and executive advisor to Prime Mining.
Ross McElroy – President and CEO
Ross McElroy is a professional geologist with over 38 years of experience in the mining industry, spanning operational and corporate roles with major, mid-tier, and junior companies worldwide. He played a pivotal role in the discoveries of several world-class uranium and gold deposits, many of which have advanced through development into mining operations. Most recently he was the CEO of Fission Uranium Corp, where he oversaw the sale of Fission for more than $1.14B to Paladin Energy.
Chris Cairns – Chief Financial Officer
Chris Cairns is a CPA, CA and brings more than 13 years of experience working in the finance and mining industries. He obtained his designation while at PwC, working with numerous Canadian and US-listed mining and exploration companies operating in North America, South America and Mongolia, before leaving to serve in roles as controller and CFO of two publicly listed mining exploration companies listed in Canada and the United States.
Rona Sellers – VP Commercial and Compliance and Corporate Secretary
Rona Sellers is an experienced governance professional with more than 13 years of experience in corporate and securities law. Previously, she was VP compliance and corporate secretary at Maple Gold Mines, and previous to that she held corporate secretarial roles at publicly traded companies listed in Canada and the United States.
Isabelle Lépine – Director, Mineral Resources
With over 25 years experience leading resource focused technical programs and teams, Isabelle Lépine brings extensive knowledge in mineral resource management to Apollo. Her significant experience ranges across the advanced stages of the resource development cycle through to mining. Most recently, she was director of mineral resources at Stornoway Diamonds.
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Here’s a quick recap of the crypto landscape for Wednesday (October 22) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$107,811, a 3.5 percent decrease in 24 hours. Its lowest valuation of the day was US$107,657, and its highest was US$108,936.
Bitcoin price performance, October 22, 2025.
Chart via TradingView.
Bitwise Chief Investment Officer Matt Hougan believes gold’s explosive price performance this year could offer a glimpse of what lies ahead for Bitcoin, arguing that the world’s top cryptocurrency may be preparing for a similar structural breakout once its remaining pool of sellers runs dry.
Gold has surged roughly 57 percent in 2025, powered largely by sustained central bank accumulation. Bitcoin, meanwhile, has traded in a relatively narrow range between US$108,000 and US$112,000. According to Hougan, the comparison between the two assets provides a potential roadmap for their trajectory going into next year.
“Don’t look at gold’s meteoric rise with envy. Look at it with anticipation. It could end up showing us where bitcoin is headed,” Hougan wrote in a client note this week.
In addition, steady accumulation by exchange-traded funds (ETFs) and corporate treasuries has provided a similar source of structural demand. Since the launch of spot Bitcoin ETFs in January 2024, institutions and corporations have purchased roughly 1.39 million BTC, far outpacing new supply generated by the network.
Market data this week supports the idea of renewed accumulation. Following a US$19 billion liquidation event earlier this month, spot Bitcoin ETFs have recorded US$477 million in positive net inflows.
Predictions about a breakdown below US$100,000 have not materialized, though ongoing long liquidations over the past four hours reveal how vulnerable bullish traders remain near current support.
Ether (ETH) was priced at US$3,796.34, a 4.9 percent decrease in 24 hours. Its lowest valuation of the day was US$3,795.42, and its highest was US$3,873.52.
Altcoin price update
- Solana (SOL) was priced at US$179.68, at its lowest valuation of the day, down by 7.5 percent over the last 24 hours. Its highest valuation of the day was US$185.98.
- XRP was trading for US$2.37, a decrease of 5.2 percent over the last 24 hours and its lowest valuation of the day. Its highest was US$2.41.
Fear and Greed Index snapshot
CMC’s Crypto Fear & Greed Index remains locked in a state of anxiety, sitting in “fear” territory (29) for seven consecutive days and marking its longest streak since April. Its stagnation reflects a growing sense of caution among investors, as Bitcoin continues to trade within a narrow band between US$103,000 and US$115,000 for nearly two weeks.
Over the past 30 days, the index has been in greed territory for just seven days — the same period when Bitcoin reached its all-time high of US$126,000 in early October. Since then, investor sentiment has reversed sharply.
CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.
Chart via CoinMarketCap.
The current fear phase began on October 11, a day after the largest liquidation event in crypto history erased more than US$20 billion in leveraged positions. Historically, similar periods of heightened fear have marked turning points for Bitcoin. The last extended stretch of fear occurred in March and April during the Trump administration’s tariff standoff with China, when Bitcoin bottomed near US$76,000. Market analysts say the prevailing mood underscores uncertainty following the US Federal Reserve’s recent policy pivot and renewed US-China trade negotiations.
Crypto derivatives and market indicators
Bitcoin derivatives metrics suggest traders are taking a wait-and-see approach.
Liquidations for contracts tracking Bitcoin have totaled approximately US$6.12 million in the last four hours, with the majority being long positions, signaling continued risk aversion. Ether liquidations showed a similar pattern, with long positions making up the majority of US$9.35 million in liquidations.
Futures open interest for Bitcoin was down by 1.09 percent to US$68.51 billion over four hours, with further decreases in the final hour of trading. Ether futures open interest moved by -1.15 percent to US$43.7 billion.
The funding rate remains positive for both crytocurrencies, with Bitcoin at 0.008 and Ether at 0.002, indicating more overall bullish positioning than bearish.
Bitcoin’s relative strength index stood at 44.98, meaning its price momentum is in a neutral to slightly bearish zone.
Today’s crypto news to know
Senate Democrats tell Trump envoy to explain undivested crypto stakes
Senate Democrats have called on Steve Witkoff, US President Donald Trump’s special envoy to the Middle East, to explain why he has not divested from his crypto holdings despite federal ethics requirements.
In a letter led by Senator Adam Schiff, eight lawmakers pressed Witkoff for details on his interests in World Liberty Financial, the Trump-linked crypto firm he co-founded in 2024, and several affiliated entities.
Witkoff’s latest ethics disclosure, dated August 13, shows he still owns stakes in multiple crypto-related businesses, including WC Digital Fi and SC Financial Technologies. Lawmakers allege these investments pose potential conflicts of interest given his diplomatic role and the company’s business ties to the United Arab Emirates.
The scrutiny follows a New York Times report linking Witkoff’s crypto dealings to a US$2 billion Emirati investment in Binance funded through World Liberty Financial’s stablecoin, USD1.
Neither the White House nor World Liberty Financial has commented on the matter.
FalconX announces plans to acquire 21Shares
FalconX announced plans to acquire 21Shares, one of Europe’s leading crypto exchange-traded product issuers.
The deal, confirmed Wednesday, will integrate FalconX’s prime brokerage operations, which serves over 2,000 institutional clients, with 21Shares’ portfolio of 55 listed products across Bitcoin, Ether and other digital assets.
21Shares currently oversees more than US$11 billion in assets and will continue operating independently under CEO Russell Barlow following the deal. While the financial terms remain undisclosed, the transaction marks FalconX’s third major acquisition this year after Arbelos Markets and Monarq Asset Management.
Hong Kong approves first spot Solana ETF
Hong Kong regulators have approved the region’s first spot Solana ETF.
The Securities and Futures Commission granted authorization to China Asset Management Company to launch the Hua Xia Solana ETF on the Hong Kong Stock Exchange on October 27. The product will trade through OSL Exchange, with OSL Digital Securities as sub-custodian and BOCI-Prudential Trustee serving as the primary custodian.
Each unit will consist of 100 shares, with a minimum investment of about US$100.
The fund’s debut makes Solana the third cryptocurrency — after Bitcoin and Ethereum — to receive regulatory approval for a spot ETF in Hong Kong.
Fed governor proposes skinny master accounts for crypto access to Fed payments
Fed Governor Christopher Waller signaled a major policy shift during his opening remarks at the Payments Industry Conference on Tuesday (October 21), welcoming DeFi and crypto innovators into mainstream payments dialogue and proposing a new framework for direct access to Fed payment infrastructure for eligible firms.
In his speech, Waller recognized traditional banks and crypto-native fintechs as core stakeholders and stressed the Fed’s intent to be active in technology-driven payment revolutions like distributed ledger technology, tokenized assets and artificial intelligence (AI). The proposed payment accounts, referred to as skinny master accounts, would offer eligible nonbank entities direct access to the Fed’s payments rails, bypassing third-party banks, but without interest, overdraft protection or discount window access, and potentially with balance caps.
Waller said this tailored access aims to match the needs and risks of payment firms and digital asset companies with a simpler review. He also noted that the Fed is conducting hands-on research into tokenization, smart contracts and AI/payments intersection and will seek industry input on the new account framework.
Andreessen Horowitz highlights maturing crypto industry
Andreessen Horowitz’s most recent State of Crypto 2025 report highlights a new era in the cryptocurrency industry that the firm says is defined by real utility and maturing institutional adoption.
The authors point out stablecoins’ explosion as a dominant macroeconomic force, citing nearly US$46 trillion in processed transactions over the past year, a figure that rivals traditional payment systems.
The report also emphasizes infrastructure upgrades across blockchains like Ether and Solana, which have increased transaction speeds while lowering costs, as well as improved regulatory clarity in the US through supportive legislative actions, which have been major catalysts helping revive builder confidence and establish frameworks for digital asset oversight that balance innovation with investor protection.
World app expands into prediction markets
World, the digital identity project formerly known as Worldcoin, is expanding into prediction markets by integrating Polymarket. The company, which is led by OpenAI CEO Sam Altman, announced on Tuesday that its World app, a mobile app combining a digital wallet with a decentralized identity tool, has integrated the Polymarket app.
The launch of the Polymarket mini app on World enables World app users to place Polymarket bets directly from the World app wallet using Circle’s USDC or World’s token, Worldcoin.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Don’t say we didn’t warn you. The most devastating bye week for fantasy football managers is now at hand – with six NFL teams taking the week off and leaving bunches of open starting spots all across the fantasy landscape.
WEEK 8 BYES: Arizona, Detroit, Jacksonville, Las Vegas, L.A. Rams, Seattle
The big issue is not only finding replacements to fill the void, but also figuring out which players are most expendable to make sure you have a legal roster.
Although you’re probably going to have to dig deep, here’s who might be worth picking up this week:
Fantasy football players to add for Week 8
Due to the wide variance in types of leagues and individual team needs, the players listed here include their availability rates in Yahoo leagues, which may or may not match rates on other platforms. If you have bye week issues, feel free to go the extra dollar. (Suggested bid values based on $100 free agent acquisition budget for the season.)
RB Kyle Monangai, Chicago Bears (7% rostered)
Who’s fantasy stock is rising quickly? This (Monan)gai right here!
Splitting time almost evenly with starter D’Andre Swift (35 snaps to 31), the rookie racked up 81 rushing yards and a touchdown on 13 carries in his most extensive work of the season vs. the Saints. Granted, the Bears had the game well in hand and Swift missed some practice time during the week with a groin injury, but Monangai is showing he’s capable of handling more work the rest of the way. (Suggested FAAB bid: $11)
TE Oronde Gadsden, Los Angeles Chargers (6%)
Gadsden has emerged as yet another excellent receiving option for Chargers QB Justin Herbert. His presence does make wideouts Quentin Johnston, Ladd McConkey and Keenan Allen a bit more risky to start, but if you need a fill-in at tight end this week, you have to be encouraged by Gadsden’s seven catches for 164 yards and a TD against the Colts. He has the potential to be a consistent top-10 option at the position going forward. (FAAB bid: $10)
WR Tez Johnson, Tampa Bay Buccaneers (17%)
Mike Evans’ season-ending broken collarbone makes Johnson even more valuable than he was in last week’s roundup. After snagging a 45-yard TD in Week 6, Johnson added an electrifying catch-and-run score against the Lions on Monday night. He finished with four receptions on nine targets for 58 yards, but expect those numbers to rise significantly with Evans out. Sterling Shepard is a decent fallback option. (FAAB bid: $9)
WR Xavier Legette, Carolina Panthers (7%)
After a dreadful start, Legette has now scored in two of his last three games. Sunday’s outing at the Jets may finally signal a breakout for last year’s No. 32 overall pick. Hauling in nine of his 11 targets, Legette racked up a career-high 92 receiving yards. Even with Jalen Coker activated off the PUP list, Legette is the clear No. 2 receiver behind 2025 first-rounder Tetairoa McMillan. (FAAB bid: $5)
WR Alec Pierce, Indianapolis Colts (10%)
Stepping up with Josh Downs sidelined by a concussion, Pierce saw a season-high 10 targets in the shootout against the Chargers, with five catches for 98 yards. Keep an eye on Downs’ progress during the week as the Colts have an enticing matchup at home against the Titans. If he’s questionable, Pierce could have another good outing. (FAAB bid: $5)
WR Chimere Dike, Tennessee Titans (2%)
Sensing a theme here … With Calvin Ridley out, Dike – the Titans’ primary return man – got an extended look on offense. He wasn’t on the field as much as Elic Ayomanor or Van Jefferson, but he did make the most of his opportunities with four receptions for 70 yards and a touchdown. But let’s not call him Dike Metcalf or anything just yet. (FAAB bid: $3)
RB Brashard Smith, Kansas City Chiefs (6%)
Perhaps it was only due to the Chiefs blowing out the Raiders, but the rookie seventh-rounder had by far his busiest day as a pro in Week 7. He was on the field for 28 snaps (15 more than Kareem Hunt) and he turned those into 14 carries and five receptions for 81 total yards. He’s had at least three catches in each of the past four games, too. (FAAB bid: $3)
TE Pat Freiermuth, Pittsburgh Steelers (7%)
Don’t forget about the Thursday shootout against the Bengals in which Freiermuth caught five passes for 83 yards and two touchdowns. QB Aaron Rodgers does love his tight ends, even though he has at last three to choose from there in Pittsburgh. (FAAB bid: $3)
TE Noah Fant, Cincinnati Bengals (1%)
In that same TNF game, Fant had four catches for 44 yards and a score. With Mike Gesicki on injured reserve, Fant becomes the Bengals’ primary tight end. And we also know how much Joe Flacco likes throwing to his tight end. (FAAB bid: $2)
WR Christian Watson, Green Bay Packers (11%)
If your league allows pickups of injured players, Watson is a great speculative add this week if you have the roster space. He’s been cleared to practice after sitting out all season with a knee injury, and his first game could come this week at Pittsburgh. If you’re looking for potential upside, Watson does have 14 TD receptions in his first three NFL seasons. (FAAB bid: $1)
Fantasy football quarterbacks to stream for Week 8
QB Jaxson Dart, New York Giants (42%)
With three touchdowns through the air and one on the gound in a shootout vs. Denver, Dart finished as the QB2 for the week (behind the Broncos’ Bo Nix). He’ll have a fairly high floor every week because of his running ability. But still, he connected on just 15-of-33 passes (45.5%) so the rough edges haven’t been completely smoothed out. The Giants are at Philadelphia this week. (FAAB bid: $5)
QB Joe Flacco, Cincinnati Bengals (11%)
Flacco has been great at getting the ball out quickly to his talented crop of receivers. Throwing for 342 yards and three scores against the Steelers on a short week, he should have more than enough time to prepare (and succeed) this week against the Jets. Feel free to hang onto him another week even with a home date against the Bears in Week 9. (FAAB bid: $4)
This post appeared first on USA TODAY
The week fantasy football managers have been dreading has arrived. ‘Byemageddon’ is officially hitting the NFL in Week 8.
For the first, and only, time of the 2025 NFL season, a whopping six of the league’s 32 teams will be out of action. That will leave Week 8 with just 13 total games of action while thinning the ranks of available options for fantasy football managers.
That will create some difficult start ’em, sit ’em decisions for fantasy football managers looking to replace talent like Jahmyr Gibbs, Puka Nacua, Trey McBride and much more.
Add in the injuries that are still impacting the availability of some top fantasy stars, and managers may have to scour the waiver wire for potential bye-week fill-ins with upside. That could lead to some strange-looking lineups, especially for those that have multiple players on bye in Week 8.
Who can you start and sit in fantasy football for Week 8 of the NFL season? USA TODAY Sports breaks down the outlook for 16 players.
Fantasy football players to start in Week 8
Quarterbacks
- Bo Nix, Denver Broncos (vs. Dallas Cowboys)
The Cowboys have given up the most fantasy points per game (FPPG) to quarterbacks this season. That includes a league-high 16 passing touchdowns and 222 rushing yards to the position. Nix just scored four touchdowns in the fourth quarter of the Broncos’ 33-32 comeback win over the Giants, so expect the second-year quarterback to remain hot in a good matchup.
- Aaron Rodgers, Pittsburgh Steelers (vs. Green Bay Packers)
Are the Packers as easy a matchup for Rodgers as the Bengals? Not quite. Still, Green Bay has surrendered multiple passing touchdowns in four of its last five games while Rodgers has racked up 14 touchdowns across his six starts with the Steelers. He should be plenty motivated to post good numbers against his former team, making this a potential boom spot for the 41-year-old.
Running backs
- Rico Dowdle, Carolina Panthers (vs. Buffalo Bills)
Dowdle maintained a solid workload despite the return of Chuba Hubbard from a calf injury. Both players should be able to earn fantasy relevance against a Bills defense that has surrendered the fifth-most FPPG to running backs this season and is tied for second in total rushing touchdowns allowed to the position with eight.
- Tyler Allgeier, Atlanta Falcons (vs. Miami Dolphins)
Wide receivers
- Rome Odunze, Chicago Bears (at Baltimore Ravens)
Don’t be scared off by Odunze’s back-to-back two-catch outings. He’s still averaging 7.7 targets per game and has emerged as Caleb Williams’ favorite target. That should give him a chance to find success often against a Ravens defense that has allowed the second-most FPPG to receivers this season.
- Troy Franklin, Denver Broncos (vs. Dallas Cowboys)
The Cowboys have a weak pass defense that has allowed a league-high 12 receiving touchdowns to wide-outs this season. That could position Franklin, who is averaging a solid 6.6 targets per game, for a strong outing.
Tight end
- Mason Taylor, New York Jets (at Cincinnati Bengals)
The Bengals allowed four receiving touchdowns to tight ends in Week 7 alone. They have allowed nine total throughout the season, which is three more than the second-ranked team, the Jets. That could position Taylor, who has seen at least five targets in four of his last five games, for a big week.
Defense/special teams:
- Indianapolis Colts (vs. Tennessee Titans)
The Colts are averaging 2.7 sacks per game and are going up against a Titans defense that averages a league-low 13.7 points per game. That will make for a high-floor matchup and should allow Indianapolis to emerge from Week 8 as a top-five fantasy defense.
Fantasy football players to sit in Week 8
Quarterbacks
- Dak Prescott, Dallas Cowboys (at Denver Broncos)
Sitting Prescott may not be easy after the veteran quarterback has posted at least three touchdowns in four consecutive games. That said, the Broncos have allowed no more than one passing touchdown in five of their seven contests this season. Prescott will maintain a high ceiling given the level at which he is playing, but his floor makes him a riskier start than usual.
- Justin Fields, New York Jets (at Cincinnati Bengals)
Some may be tempted by Fields’ rushing upside against a woeful run defense, but the 26-year-old might not even start this game for the Jets. He was benched mid-game last week in favor of Tyrod Taylor and has racked up nearly as many sack yards (76) as passing yards (91) over his last six quarters of action. So, even if Fields does start, his limitations as a passer should prevent him from becoming a quality fantasy starter this week.
Running backs
- Rhamondre Stevenson, New England Patriots (vs. Cleveland Browns)
Stevenson may not be threatened for touches by second-round rookie TreVeyon Henderson, but the veteran has a tough matchup against the Browns. Cleveland has allowed the third-fewest FPPG to running backs and just three touchdowns. Stevenson had 90 scrimmage yards and a touchdown against a weak Titans run defense but had averaged just 35.5 scrimmage yards across his previous four games.
- Quinshon Judkins, Cleveland Browns (at New England Patriots)
Funny enough, Stevenson and Judkins were our ‘start’ recommendations last week. Now, they are both ‘sits.’ Judkins is facing a Patriots defense that has allowed the fourth-fewest FPPG to running backs this season and two rushing touchdowns. It will be hard for Judkins to enjoy the type of consistent success he did against a bottom-tier Dolphins run defense in Week 7.
Wide receivers
- Zay Flowers, Baltimore Ravens (vs. Chicago Bears)
Quietly, Chicago’s pass defense has improved during its four-game winning streak. The Bears have allowed just 201.5 passing yards per game during that span, so Flowers’ opportunities to make downfield plays may be more limited, especially if Lamar Jackson (hamstring) can’t return following the bye week.
Flowers hasn’t scored since Week 1 and is averaging a solid but unspectacular 59 receiving yards per game with Jackson out of the lineup.
- Darnell Mooney, Atlanta Falcons (vs. Miami Dolphins)
Mooney had a solid return to action against the 49ers, catching three passes for 68 yards playing across from Drake London. The Dolphins have allowed just 780 receiving yards to wide-outs this year though and are extremely weak against the run. Atlanta prefers to be a ground-dominant offense, so that may prevent Mooney from getting the volume needed to produce a quality fantasy outing.
Tight end
- Zach Ertz, Washington Commanders (at Kansas City Chiefs)
Many variables could impact Ertz’s performance on ‘Monday Night Football’ in Week 8. Starting quarterback Jayden Daniels is dealing with a hamstring injury that could impact his availability for this game while the statuses of Terry McLaurin and Deebo Samuel could also impact the type of receiving volume Ertz gets. Add in that the Chiefs have allowed the fourth-fewest FPPG to tight ends this season, and this seems like an unappealing spot for the veteran.
Defense/special teams:
- Pittsburgh Steelers (vs. Green Bay Packers)
The Steelers are averaging a strong 3.7 sacks per game but were just shredded by Joe Flacco and Chase Brown on ‘Thursday Night Football.’ Jordan Love and Josh Jacobs could be similarly effective, so it’s best not to trust Pittsburgh’s stop unit this week.
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- Lane Kiffin is the most obvious fit for Florida Gators.
- James Franklin is a proven choice, but he’s no slam dunk choice, especially not considering how his Penn State tenure ended.
- Would Florida consider another Group of Five hire? If so, put Alex Golesh on list.
Florida’s coaching search must start in Mississippi. Ole Miss coach Lane Kiffin suits Florida like flip flops and fish bait.
Points. Quarterback play. Quips. Needling the competition. Visor. He’s a dream fit for Florida.
Kiffin is a slam dunk choice for Florida, but it’s not a slam dunk he’d say yes. He’s found success and stability at Ole Miss, where his Rebels are a playoff contender.
What if Kiffin says no?
On this edition of ‘SEC Football Unfiltered,’ a podcast from the USA TODAY Network, hosts Blake Toppmeyer and John Adams consider nine candidates for the Florida job with a round of love it, like it or no thanks.
Should Florida football consider hiring these coaching candidates?
Lane Kiffin, Mississippi
Adams: Love it. A slam dunk choice, if he’d take the job.
Toppmeyer: Love it. He’d be the closest coach to Steve Spurrier Florida could hope to find.
Eli Drinkwitz, Missouri
Adams: Like it. He’s fared well at Missouri, albeit short on signature wins
Toppmeyer: Like it. He’s Kiffin Light. Would prefer the fully leaded version.
James Franklin, fired Penn State coach
Adams: Love it. Proven winner.
Toppmeyer: No thanks. He’s good for somebody, but not Florida. His personality, lack of quarterback development and inconsistent offensive production would rankle Gators fans.
Jedd Fisch, Washington coach
Adams: No thanks. What’s he done?
Toppmeyer: No thanks. He graduated from Florida. Big deal. So did Layla Kiffin.
Jon Sumrall, Tulane
Adams: No thanks. A good coach, but can’t risk another Group of Five hire.
Toppmeyer: No thanks. But, of my ‘no thanks’ candidates, I like this one best.
Rhett Lashlee, SMU
Adams: No thanks. Good coach, but Florida needs to aim higher.
Toppmeyer: Like it. Not a home run, but a solid double.
Alex Golesh, South Florida
Adams: No thanks. Can’t risk Group of Five hire again.
Toppmeyer: Like it. His high-scoring offense would fit Florida, and he’s already won in The Swamp.
Urban Meyer, FOX analyst
Adams: Absolutely love it. No elaboration necessary.
Toppmeyer: Like it. It would be either awesome or awful. Or, likely, a bit of both.
Jon Gruden, Barstool Sports personality
Adams: I like this – if I could collect a share of the proceeds of the Chucky dolls sold in the university bookstore. Otherwise, maybe not.
Toppmeyer: No thanks. Gruden’s better suited to the job he has as an internet content creator.
Later in the episode
∎ The hosts take a hot seat temperature reading of Auburn’s Hugh Freeze and LSU’s Brian Kelly.
Week 9 picks against the spread!
Toppmeyer’s five-pack of picks (picks in bold):
∎ Alabama (-13.5) at South Carolina
∎ Auburn (-1.5) at Arkansas
∎ Tennessee (-9.5) at Kentucky
∎ Texas (-6.5) at Mississippi State
∎ South Florida (-3.5) at Memphis
Season record: 20-20 (3-2 last week)
Adams’ five-pack of picks (picks in bold):
∎ Tennessee (-9.5) at Kentucky
∎ Alabama (-13.5) at South Carolina
∎ Ole Miss at Oklahoma (-4.5)
∎ Texas A&M (-2.5) at LSU
∎ Minnesota at Iowa (-8.5)
Season record: 18-22 (1-4 last week)
Where to listen to SEC Football Unfiltered
- Apple
- Spotify
- iHeart
Blake Toppmeyer is the USA TODAY Network’s national college football columnist. John Adams is the senior sports columnist for the Knoxville News Sentinel. Subscribe to the SEC Football Unfiltered podcast, and check out the SEC Unfiltered newsletter, delivered straight to your inbox.
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The WNBA collective bargaining agreement expires in 10 days.
Minnesota Lynx All-Star forward Napheesa Collier, who serves as the WNBPA vice president, says the players have prioritized ‘two main points’ — increased revenue sharing and salary structures — during negotiations.
NBA commissioner Adam Silver was asked about progress toward a deal by “Today” host Craig Melvin on Tuesday, Oct. 21. Melvin asked if WNBA players should get a larger piece of the revenue pie. “They get nine percent of total revenue compared to roughly 50 percent of the revenue of NBA players. Should they be getting a larger share of revenue in the WNBA?”
“Yes,’ Silver said ‘I think ‘share’ isn’t the right way to look at it because there’s so much more revenue in the NBA. You should look at it in absolute numbers in terms of what they’re making. They are going to get a big increase in this cycle of collective bargaining. And they deserve it.”
Under the current agreement, WNBA players receive 9.3% of the league’s revenue, according to Market Watch, which includes income generated through ticket sales, TV deals, licensing and merchandise. The WNBA’s revenue share agreement is much lower than other professional leagues. NBA players receive 49-51% of all basketball-related income and NFL players get 48% of all revenue and NHL players receive 50% of revenue.
The current CBA, which was signed in January 2020, shortly after Cathy Engelbert took over as commissioner in 2019, was set to expire in 2027. The WNBPA, however, exercised its right to opt out of the agreement last October amid unprecedented league growth, meaning the CBA now ends on Oct. 31, 2025.
‘While I hope we make the October 31st deadline, and that is a real deadline from that perspective, we have extended deadlines in the past,’ Engelbert said during her press conference ahead of the WNBA Finals on Oct. 3. ‘Last time, when I was only a couple days on the job, we got to an extension and got a deal done that was progressive at the time. So again, I feel confident that we can get a deal done, but if not, I think we could do an extension.’
The draft lottery, expansion drafts and subsequent free agency period are all contingent on a new CBA. The league’s newest franchises, the Toronto Tempo and Portland Fire, will begin play during the 2026 season, which will be the WNBA’s 30th anniversary.
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The 2025-26 NBA season started Tuesday night in Oklahoma City as Shai Gilgeous-Alexander and the Thunder hosted Kevin Durant and the Houston Rockets.
Before tip-off, the Thunder celebrated their 2024-25 NBA championship season and raised their first title banner since the organization moved to Oklahoma City.
OKC players were greeted by NBA commissioner Adam Silver as they were introduced to the home crowd and received their championship rings.
Here’s how the players reacted to the championship rings and banner being raised:
Thunder receive championship rings, raise title banner
Oklahoma City Thunder championship rings
Here’s a detailed view of the Thunder’s new bling:
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