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Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that it has received TSXV conditional approval for its previously announced financing, originally announced on June 16, 2025, with an arm’s length institutional investor, Sorbie Bornholm LP (the ‘Investor’) in connection with a proposed financing for CDN$6,000,000.00 (the ‘Offering’) at a price of $1.00 per unit (‘Unit’).

The Offering will consist of the issuance of 6,000,000 Units. Each Unit shall be comprised of one (1) common share (‘Shares‘) of the Company and one (1) common share purchase warrant (‘Warrants‘). The proceeds from the Offering will be used to advance the Company’s vertically integrated silica to solar and energy storage business, supporting business development and scaling of revenues and for general working capital purposes.

Brian Leeners, CEO of Homerun stated, ‘We are thrilled to welcome this particular Institutional Investor as they have chosen Homerun to be their inaugural investment with a company trading on the TSX Venture Exchange. Their innovative investment model provides capital over 24 months keeping our team focused on the execution of our plans and deliverables. We have confidence that this financing based on its unique model, will provide capital premiums to the original financing amount over that 24-month period as we continue to de-risk our business and transition into a high-growth, revenue-generating Company with exceptional long-term potential.’

Sorbie Bornholm Managing Director Whitney Kofford commented, ‘Sorbie is proud to announce this new investment in Homerun Resources and to provide Homerun with flexible, growth-linked capital over the next two years through our unique Sharing Agreement. The global energy transition requires bold thinking and the ability to execute on transformative ideas. Homerun’s integrated strategy for high-purity silica and advanced energy solutions is a prime example of just that – innovation meeting opportunity. We applaud Homerun’s consistent track record of hard work and determination, and we look forward to supporting the Company over the longer-term throughout their growth trajectory.’

Pursuant to the terms and conditions of a Sharing Agreement between the parties, the following structure and sequence will take effect under the Offering:

  • The Investor will deposit CDN$6,000,000 into a third-party escrow account.
  • The Company will issue the 6,000,000 Shares into escrow and the Warrants will be issued to Sorbie on each monthly settlement date.
  • Over a 24-month period, the cash and Shares will be released monthly based on the Company’s market price at each release date.
  • The Investor will immediately receive upon closing 1,500,000 Warrants exercisable at CDN$1.18 for three (3) years.
  • The Investor will also receive up to 4,500,000 additional Warrants, issued monthly over 24 months, priced at a 20% premium to the 5-day VWAP at the time of each issuance and exercisable for three (3) years from issuance.
  • The Company will pay the Investor a corporate finance fee of 360,000 Shares and a due-diligence deposit of 100,000 Shares, both subject to the same escrow and release schedule.
  • The Warrants will also include an equity blocker provision that prohibits the Investor from exercising any portion of the Warrants if such exercise would result in the holder owning more than 9.99% of the Company’s outstanding Shares.

The Company intends to rely on the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, for the Offering, and the Shares and Warrants will not be subject to restrictions on resale. There will be an offering document related to the Offering that will be available under the Company’s profile at www.sedarplus.ca and at www.homerunresources.com. Prospective investors should read this offering document before making an investment decision. Closing of the Offering is subject to several conditions, including receipt of all necessary corporate and regulatory approvals, including the TSXV.

The Offering is expected to close on or about November 30, 2025, or such other date as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the final approval of the TSX Venture Exchange. There are no finder’s fees payable to any parties under the Offering.

About Homerun (www.homerunresources.com)

Homerun is building the silica-powered backbone of the energy transition across four focused verticals: Silica, Solar, Energy Storage, and Energy Solutions. Anchored by a unique high-purity low-iron silica resource in Bahia, Brazil, Homerun transforms raw silica into essential products and technologies that accelerate clean power adoption and deliver durable shareholder value.

  • ⁠Silica: Secure supply and processing of high-purity low-iron silica for mission-critical applications, enabling premium solar glass and advanced energy materials.
  • Solar: Development of Latin America’s first dedicated 1,000 tonne per day high-efficiency solar glass plant and the commercialization of antimony-free solar glass designed for next-generation photovoltaic performance.
  • Energy Storage: Advancement of long-duration, silica-based thermal storage systems and related technologies to decarbonize industrial heat and unlock grid flexibility.
  • Energy Solutions: AI-enabled energy management, control systems, and turnkey electrification solutions that reduce costs and optimize renewable generation for commercial and industrial customers.

With disciplined execution, strategic partnerships, and an unwavering commitment to best-in-class ESG practices, Homerun is focused on converting milestones into markets-creating a scalable, vertically integrated platform for clean energy manufacturing in the Americas.

On behalf of the Board of Directors of Homerun Resources Inc.:

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275995

News Provided by Newsfile via QuoteMedia

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  • Ole Miss coach Lane Kiffin is at the center of coaching carousel speculation, with LSU and Florida as potential destinations.
  • Ole Miss has set a deadline for Kiffin to announce his decision after the Egg Bowl.

The playoff race is supposed to command top billing at this stage of the college football calendar, but even debates about Notre Dame’s resume can’t hold a candle to Lane Kiffin’s all-consuming hold over the coaching carousel.

I’m imagining the “College GameDay” cameras cutting to Kiffin on a boat, where ex-wife Layla has lined up hats for Mississippi, LSU and Florida. And then Kiffin casts a line into the array, hooks one of the hats and reels it in.

The cameras cut back to the “College GameDay” set, and Pat McAfee is shirtless, and Nick Saban is discussing the plight of multimillionaire coaches.

As we await “The Decision 2.0,” here’s what lingers on my mind after college football’s Week 13:

Who’s leading the Lane Kiffin sweepstakes?

Only Kiffin could say.

Three years ago, in the days leading up to the Egg Bowl, the tea leaves sure seemed to indicate Auburn was positioned to plunder Kiffin. Then, Kiffin reversed course and announced after losing to Mississippi State on Thanksgiving night that he intended to stay.

I’m not saying Kiffin will repeat that pledge this year. I’m only saying, with Kiffin, the only thing you can expect with confidence is he’ll command the spotlight and prolong the drama for as long as he can.

Everyone wants a prediction, even if they’re glorified guesses, so here goes: Without much conviction, I’ll say Kiffin to LSU.

Blake Toppmeyer is the USA TODAY Network’s senior national college football columnist. Email him at BToppmeyer@gannett.com and follow him on X @btoppmeyer.

This post appeared first on USA TODAY

MIAMI — A return for Anthony Davis appears imminent.

Though the Dallas Mavericks forward-center was downgraded to doubtful and then ruled out ahead of the team’s game on Monday, Nov. 24 against the Miami Heat, Mavericks coach Jason Kidd provided an update that points to his eventual return.

Davis has been dealing with a lower left leg injury and has missed the last 13 Mavericks games headed into Monday night. He had been dealing with an injury described as bilateral Achilles tendinopathy before he aggravated it on Wednesday, Oct. 29, during a game against the Indiana Pacers. Prior to exiting the game, Davis grabbed at his lower left leg, near his Achilles.

He did not return and has missed nearly a month with the ailment.

Here’s everything you need to know about Anthony Davis’ injury:

Anthony Davis injury update

Although the Mavericks had listed it as the Achilles injury, the team later changed the diagnosis to a calf strain, which is a tricky injury to manage.

The Mavericks, though, are planning to work Davis back to practice this week.

“He continues to get better,” Kidd told reporters prior to tipoff. “He’s working to get back. We’re anticipating him at practice this week, so any time you have a calf strain, you have to be cautious, but he has worked extremely hard. The next step is practice Wednesday, and we’ll see what happens after that.”

ESPN also reported that there was a disagreement between Davis’ personal medical staff and Mavericks director of health and performance Johann Bilsborough prior to the team’s Saturday, Nov. 8 game against the Wizards. According to the report, Bilsborough expressed concern about risking a more serious injury if Davis was rushed back too soon. Dumont, then, sided with Bilsborough.

Dallas Mavericks upcoming schedule

The Mavericks opened a four-game road trip on Monday night against Miami.

Dallas then will travel out west to Los Angeles to face the Lakers on Friday, Nov. 28. Davis is with the team during this roadtrip, and took his place on the bench Monday night, in street clothes.

The Mavericks then play the Clippers (Saturday, Nov. 29) and Nuggets (Monday, Dec. 1), before heading back home to host the Heat (Wednesday, Dec. 3).

This post appeared first on USA TODAY

The College Football Playoff and ESPN will take more time to determine whether the field expands or stays put for 2026.

The two sides announced on Monday, Nov. 24 they have agreed to extend the deadline to determine the future format from Dec. 1 to Jan. 23, 2026. The move allows both parties to continue discussions on ‘future playoff models, scheduling details, media considerations, and long-term strategy.’

‘While no change to the current format is definite, this extension will allow the (CFP) Management Committee additional time to evaluate the second year of the expanded playoff and ensure any potential modifications are carefully considered, fully vetted, and in the best interests of student-athletes, schools, and fans,’ CFP executive director Rich Clark said in a statement.

The playoff field expanded to 12 teams for 2024 and will be in place this season, but the current debate is whether to expand it for the next season, and by how much.

There has been speculation that the CFP would increase 16 teams in the 2026 season. However, there wasn’t universal support on how the at-large teams would be selected. The Big 12, ACC and SEC favored the top five conference champions getting automatic bids, with the 11 remaining spots filled via at-large selection.

The Big Ten favored a model where 13 of the 16 spots would be determined by automatic bids − with its conference and the SEC getting four spots each. In August, the Big Ten reportedly floated the idea of a 24-team playoff that is still being pushed.

As a result, not every conference has been aligned on whether to expand.

“The move to 16 should be a priority for all of us in conference leadership,” SEC commissioner Greg Sankey told reporters on Nov. 15.

With the new deadline to determine expansion, it gives those in power nearly two months to determine it. The Jan. 23 deadline also comes after the national championship game on Jan. 19.

If the size of expansion and how its determined can’t be agreed upon, the playoff would likely stay at 12 teams. The current format has playoff spots determined by the five highest ranked conference champions and the next seven highest-ranked teams.

This post appeared first on USA TODAY

The Cincinnati Bengals star receiver has returned from a one-game suspension that came after he spit on Pittsburgh Steelers cornerback, Jalen Ramsey, in Week 11. Chase and Ramsey were involved in an on-field altercation, which saw the Steelers’ defender earn an ejection from the contest.

While Chase wasn’t initially punished, he received a suspension from the league just one day later.

Now as the Bengals get ready to play on a short week, Chase took to social media and sent a message to his team, fans, the Bengals organization, the Steelers organization and the NFL community.

Here is his apology, in its entirety:

‘Please know I am speaking from my heart when I say I take full responsibility for my actions during last Sunday’s game at Pittsburgh.

What I did was wrong. The circumstances don’t matter. My passion for the game is no excuse. There’s zero place in our sport – or in life – for that level of disrespect.

I want to personally apologize to everyone within the Pittsburgh Steelers organization. I let my emotions in the moment get the better of me. I can only hope and trust you know none of it represents who I am – not as a competitor, teammate, or person.

I also want to apologize to my coaches, teammates, and organization for not meeting my own standards as a leader of this team.

This has been a tough season with some incredibly hard losses. We’ve all been frustrated. But instead of stepping up with calm, class, and leadership, I let you down. My having to sit out yesterday’s game makes my actions even more inexcusable. I won’t let it happen again.

Finally, I want to apologize to my fans.

I do not take anyone who wears my jersey for granted. I do not take my position as a role model lightly. As someone who strives to lead with character and authenticity, I should have taken immediate accountability for what happened.

I am committed to earning back your respect – not just with words, but with my actions, day after day, on and off the field.

I promise to keep learning from this and to set a higher standard for myself moving forward.

With respect,

Ja’Marr Chase’

The Bengals will now look to turn the page as they try to turn their season around on Thanksgiving against the Baltimore Ravens.

Joe Burrow is set to make his return and start at quarterback and now he’ll get Chase back in the fold too.

This post appeared first on USA TODAY

  • Boxer Gervonta ‘Tank’ Davis is accused of assaulting a former girlfriend in a Miami-area strip club, according to a civil lawsuit.
  • Surveillance video and a club manager’s incident report support the woman’s allegations of battery, false imprisonment, and kidnapping.
  • Davis’s scheduled exhibition fight against Jake Paul was canceled following the lawsuit and an active police investigation.
  • A judge granted a temporary restraining order against Davis, but legal proceedings are stalled as authorities have been unable to serve him with a summons.

Surveillance video and an incident report compiled by a manager of a Miami-area strip club detail allegations that boxing star Gervonta ‘Tank’ Davis assaulted and forcibly removed a former girlfriend from the club in late October.

An exhibition fight between Davis and Jake Paul scheduled for Nov. 14 was canceled on Nov. 3, four days after the woman filed a civil lawsuit with the 11th Judicial Circuit Court in Miami-Dade County claiming Davis committed battery, aggravated battery, false imprisonment, kidnapping and intentional infliction of emotional distress against her.

USA TODAY obtained a copy of the manager’s incident report and, during a FaceTime call, viewed surveillance video that Richard Wolfe, one of the woman’s attorneys, said he obtained from the parent company of the Miami Gardens club through a subpoena.

Artagus Lane, a manager at Tootsie’s Cabaret, said he was working at the club during the alleged attack and later reviewed video from the club’s camera system. He said he documented what he saw for an incident report he filed with Tootsie’s Cabaret.

A copy of the club incident report obtained by USA TODAY Sports lists Lane as the person filing it and in part states, ‘Mr. Davis could be seen making gestures that gave the impression (the woman) was being forced to leave with him … Mr. Davis continued being physical by grabbing her by the neck and hair.’

Lane also said he interviewed the woman, who works as a VIP waitress at Tootsie’s Cabaret. Her name is being withheld because USA TODAY does not generally publish the identities of victims of domestic violence.

The woman said she and Davis, 31, had an intimate relationship for five months before the alleged attack took place Oct. 27. The woman also is 31, according to the club incident report Lane said he completed.

“I know she was shooken up and I just want to ensure her that her safety and everything,’’ Lane said.

Ravone Littlejohn, a representative of Davis, declined to comment to USA TODAY Sports. Davis has not commented on the allegations publicly and efforts to reach him directly were unsuccessful.

A spokesperson for Davis on Nov. 24 said the boxer will address the matter in a documentary that will be released after Thanksgiving. The spokesperson, who identified herself only as Sade, said the boxer is in Baltimore, his hometown, hosting a Thanksgiving drive at Davis’ gym, the Uptown Boxing Center.

The matter involving Davis and the alleged incident in Florida is an ‘active case,” according to the Miami Gardens Police Department. No associated criminal charges had been filed as of Nov. 24.

Strip club incident report details allegations against ‘Tank’ Davis

At 3:51 a.m. on Oct. 27, a manager at Tootsie’s Cabaret heard that one of the staff members “may have been assaulted,’ according to a copy of the incident report. A review of video footage revealed an incident did occur, according to the report.

Video footage showed a light-skinned Black man wearing a white shirt and joggers, later identified as Davis, among club patrons, according to the report. Upon seeing the woman, the man approached her and grabbed her behind her head by the hair. The woman was working her shift as a VIP waitress and Davis forced her to walk toward the stairway that leads to the kitchen, the report states.

During a Facetime call, Wolfe, the attorney, allowed USA TODAY Sports to view a copy of the video he said he obtained by subpoena from RCI Hospitality Holdings Inc., the parent company of Tootsie’s Cabaret. Gary Fishman, a spokesman for RCI Hospitality Holdings, Inc., said the company would not comment on the matter.

Lane’s report provided a detailed account of the video.

“(The woman) could be seen via camera footage begging for Mr. Davis to stop …,’ Lane wrote. “… Once by the stairway you can see Mr. Davis grabbing (the woman) and pushing her by the head, and grabbing her hair in an aggressive manner (shaking it and pulling it back and forth), down the first flight of stairs.’

According to the report, another woman witnessed the incident and was trying to alert a club employee to what was happening. The struggle continued as Davis forced the woman to walk down the stairs and through the kitchen.

“(The woman) begged Mr. Davis not to put his hands on her in front of the staff while walking through the kitchen,’ Lane wrote. “After they passed through the kitchen Mr. Davis continued being physical with (her) as she was trying to figure a way to get away from him.’

Eventually, Davis and the woman entered the club’s garage, according to the report, which states the woman told Davis to get the keys to his vehicle from the valet.

 “… and once he walked ahead, (the woman) took the chance to run back into the club,’ according to the report.

Later, in the manager’s office, the woman explained the details of the incident, also listed in Lane’s report.

‘(The woman) was a bit shaking (sic) up and crying from the incident while explaining,’ Lane wrote. ‘(The woman) stated that she and Mr. Davis are acquaintances who has had issues similar to this at another club recently.”

There were no visible injuries after the alleged attack at Tootsie’s Cabaret and the woman declined medical treatment. She declined to press charges and said she needed to think about it, according to the report.

Lane’s report filed with Tootsie’s Cabaret states, ‘(The woman) said she was a bit scared for what he might do to her outside of work cause he saw her out one night at a night club and choked her out prior to her employment.”

Wolfe, one of the woman’s attorneys, said the woman pressed charges with the Miami Gardens Police Department the same day the civil lawsuit was filed.

Civil matter against Davis stalled by summons delays

When the woman filed her lawsuit, according to court records, she also filed a petition for an injunction, also known as a restraining order.

A judge granted the woman a temporary injunction against Davis and a hearing for the permanent injunction was set for Nov. 12. However, the hearing was rescheduled for Dec. 9 because Davis was not served a summons for the injunction, said Eugenio Carral, director of the Family Courts Department in Miami-Dade County.

Davis must be served a summons before a judge can rule on the petition for injunction, Carral said. He said the temporary injunction typically stays in place for only 120 days before the judge dismisses it if there has been no service on the respondent.

A judge has extended the temporary restraining order in the woman’s lawsuit, according to Carral. He said copies of the new temporary injunction have been sent to both law enforcement offices in Broward County, Florida, and Clark County, Nevada, to attempt service on Davis again.

The docket in the civil case does not show Davis has been served, according to Carral, who said Davis must be served by law enforcement because the allegations constitute a domestic violence case.

Wolfe, one of the woman’s attorneys, said his law firm has tried to serve Davis, too. He said a process server representing his firm had tried unsuccessfully three times. Wolfe shared emails exchanged between his firm and On Demand Process Service in Miami, indicating the call box at Davis’ home does not list Davis’ name.

Davis resides at a home in Southwest Ranches, Florida, according to the woman’s lawsuit. The listed owner of the home is SWR Prime LLC, according to property records.

Davis is on probation from a 2023 hit-and-run case in Baltimore, Maryland, in which he pleaded guilty to multiple traffic offenses. In March, Davis admitted he left the state without permission and his probation was extended by 18 months, according to The Baltimore Banner.

This post appeared first on USA TODAY

Barrick Mining (TSX:ABX,NYSE:B) has taken a major step toward ending its months-long standoff with Mali, confirming a deal that will restore its control over one of Africa’s most productive gold operations.

After reports that the two sides had reached an agreement in principle circulated last week, Barrick confirmed on Monday (November 24), it will withdraw its arbitration claim at the World Bank’s dispute-resolution center.

Mali’s government has committed to dropping all charges, releasing detained employees and returning full operational authority for the Loulo-Gounkoto complex.

Tensions spiked in January when Mali’s military government halted gold exports, detained senior Barrick personnel and seized several tonnes of gold from the site.

A local court later appointed former health minister Soumana Makadji to run the operation under state oversight, effectively pushing Barrick out of a mine it has long managed through a joint venture.

The agreement marks a significant reversal of that intervention and paves the way for Loulo-Gounkoto to return to normal operations.

Production only resumed in late October after a separate deal to restart payments to local contractors, though at that time Barrick did not comment publicly on the arrangement.

Monday’s settlement with the government now sets the stage for a full restoration of the joint venture.

The breakthrough also comes as the company faces intensifying pressure on multiple fronts, as activist investor Elliott Investment Management has recently acquired a major stake worth at least US$700 million in the company.

Elliott is known for forcing corporate overhauls in the mining sector, and its arrival has sharpened scrutiny of Barrick’s performance after a year marked by falling production and rising costs.

The company has lagged peers despite record-high gold prices, with analysts citing the setbacks in Mali, ongoing concerns around the massive Reko Diq project in Pakistan, and turbulence in the executive ranks.

That turbulence erupted publicly in September with the abrupt exit of longtime chief executive Mark Bristow, whose relationship with Barrick chair John Thornton had reportedly deteriorated after years of missed guidance and strategic disagreements.

Sources told the Financial Times the two had barely been speaking by the time headhunters were commissioned to evaluate successors.

Interim chief executive Mark Hill has been trying to stabilize the company with a sweeping reorganization. In an internal memo reviewed by Bloomberg, he said Barrick would fold the Pueblo Viejo mine into its North American division and merge its Latin America and Asia Pacific operations.

He also announced leadership changes to sharpen the focus on Barrick’s Nevada mines, one of the company’s most valuable assets but also the site of serious safety lapses this year.

The restructuring has revived speculation about whether Barrick could eventually split its portfolio into separate companies or become a takeover target.

Currently, the company trades at a lower valuation multiple than rivals, making its assets particularly attractive if separated into a North America-focused unit and other housing operations in Africa, Latin America and the Asia Pacific region.

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

This post appeared first on investingnews.com

In its 2025 federal budget, the Canadian government lays out a bold blueprint to foster competition, innovation and inclusion in the financial sector by accelerating open banking adoption.

With the Big Six banks holding 93 percent of banking assets, this consumer-driven reform aims to dismantle longstanding barriers, giving Canadians and small businesses greater control over their financial data and choices.

The promise of open banking in Canada

Open banking, also known as consumer-driven banking, enables secure, reliable and affordable sharing of financial data between banks and third-party service providers. The goal of this framework is to empower consumers by bringing them more customized and transparent financial products and services.

The Canadian government’s recent announcements, including legislative proposals and an oversight shift from the Financial Consumer Agency of Canada (FCAC) to the Bank of Canada (BoC), signal a serious commitment to delivering a competitive and consumer-centric financial ecosystem. Boms explained that, if implemented correctly, open banking could drive innovation and inclusion across Canada’s financial sector.

“It means a more holistic picture of your total financial life, including your investment portfolios,” he commented. “It’s also something that every other G7 country has and has had for quite some time, and so it provides the basis for a more competitive, more innovative and more efficient financial system.”

One shift in the proposed framework that Boms said is vital is the BoC taking control of regulatory oversight.

‘The FCAC, where (oversight) lived originally, really didn’t have any experience in creating a regulatory framework for non-banks,’ he said. In contrast, the BoC has direct experience in licensing for non-banks serving consumers. It oversees fintech firms such as Wealthsimple, Koho, Brim Financial and Venn under the Retail Payments Activities Act.

Smaller financial institutions, including credit unions, will stand to benefit significantly from this change, leveling the playing field with the Big Six banks, which, as mentioned, currently dominate banking assets.

However, Boms emphasized the importance of a risk- and size-based regulatory approach to ensure these smaller players can innovate without undue burdens: “You have to recognize that fundamentally smaller financial institutions, smaller fintechs, don’t have the same resources as bigger incumbents.”

Canadian budget measures supporting competition

This year’s Canadian federal budget introduces several important measures to enhance competition and give consumers more choice beyond the dominant bank oligopoly. One of the flagship promises is to ban transfer fees for investment and registered accounts, fees that currently cost Canadians around C$150 per account.

Draft regulations are expected by spring 2026 to enforce this ban, reducing friction and costs for consumers. Additionally, the budget includes initiatives to simplify switching primary chequing accounts between financial institutions, further lowering barriers for Canadians to move their banking relationships.

The budget also targets cross-border transfer fees by improving transparency, including fees related to foreign exchange margins, so consumers can better understand the costs of sending money internationally.

Accessibility to cheque funds will be improved by raising the dollar threshold and shortening hold periods on cheque deposits, benefiting Canadians who rely on cheques.

To support smaller lenders and foster broader financial inclusion, legislative amendments will make it easier for federal credit unions to scale and for provincial credit unions to enter the federal regulatory regime.

“If (smaller financial institutions) can get access to consumer data digitally, they can then become much more competitive without having to build the same type of infrastructure the biggest banks can afford to build,” said Boms.

A voluntary code of conduct is planned to improve smaller financial institutions’ access to brokered deposit channels, a vital funding source for growth. Furthermore, changes to the Bank Act and Canada Deposit Insurance Corporation Act will raise public holding requirement thresholds for smaller institutions.

That will allow them more flexibility to grow before triggering changes in ownership structure.

While Canada is still rolling out its open banking framework, countries like the UK and Australia demonstrate how open banking adoption fuels economic resilience and consumer benefits.

“Canada has learned from the experiences of (other) jurisdictions, good and bad, and taken those learnings and implemented (them) into what we see here,’ said Boms.

The future of open banking in Canada

With a 2026 target for full read access, market participants are gearing up for a transformative shift in how financial data is handled. This initiative marks a pivotal move toward democratizing financial data and services in Canada.

The BoC’s expanded oversight role, coinciding with the launch of the real-time rail payment infrastructure and phased “write access” capabilities by mid-2027, will accelerate the system’s rollout.

This evolving infrastructure will facilitate instant payments and empower consumers with the ability to initiate actions like bill payments and account switching seamlessly.

Boms and FDATA Canada stand ready to guide this transformation, ensuring that open banking in Canada not only enhances competition, but also maintains safety, security and consumer protection.

Open banking’s architecture also presents fresh opportunities for digital currencies, with new legislation introduced requiring stablecoin issuers to maintain adequate high-quality reserves, clear redemption policies and robust risk management and security standards. Stablecoins could complement open banking by enabling faster, cheaper cross-border payments and settlements, especially for consumers and small businesses.

As open banking takes shape, Canadians and small businesses will gain unprecedented control over their financial lives, a change poised to ignite innovation, unlock economic potential and reshape the country’s banking landscape.

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

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Harmony Gold Mining (NYSE:HMY,JSE:HAR) announced that it has approved development of its Eva Copper project in Queensland after completing an updated feasibility study, with an estimated capital of US$1.75 billion across a three-year window.

The South African miner said Monday (November24) that its board signed off on the Final Investment Decision for the Eva copper project, a 100-percent-owned project in northwest Queensland expected to deliver high margins and a long operating life.

Harmony plans to build a low strip-ratio open-pit mine capable of producing about 65,000 metric tons of copper concentrate annually during its first five years, with an average life-of-mine profile of roughly 60,000 metric tons of copper and 19,000 ounces of gold per year over an estimated 15-year span.

The mine will process about 18 million metric tons of ore per year and carry an all-in sustaining cost of approximately US$2.50 per pound.

CEO Beyers Nel said the feasibility results confirm the company’s shift toward a balanced gold-and-copper portfolio.

“The Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio,” he said.

Nel also tied Eva Copper to Harmony’s expanding strategy, pointing to the company’s recently completed MAC Copper acquisition.

“Eva Copper, together with our recent MAC Copper acquisition, creates a compelling platform that brings together the enduring value of gold with the future-facing strength of copper, enhancing cash flow resilience across commodity cycles,” he said.

Last month, Harmony completed its US$1.01 billion acquisition of MAC Copper, giving the company full ownership of the high-grade CSA copper mine in New South Wales.

The company said the purchase builds on its strategic push to strengthen its copper position in Tier-1 jurisdictions. It also expects its two major Australian copper assets to deliver a combined 100,000 metric tons of copper annually once fully commissioned.

Meanwhile, the Eva Copper project was acquired by the company in October 2022 and has since completed 166,000 metres of drilling. The current two-million-metric-ton copper resource underpins the potential for future extensions to the mine’s life.

Harmony anticipates first production in the second half of 2028, a timeline it says aligns with a structural deficit in copper supply that could support stronger prices.

Board approval moves the project into the execution phase. Mobilization to site is expected in the third quarter of fiscal 2026, subject to amendments to the project’s Environmental Authority.

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

This post appeared first on investingnews.com