By Jack Ryan, Jack Farchy, and Yihui Xie
Bloomberg News
Tuesday, November 11, 2025
Tether Holdings SA is hiring two of the world's most senior precious metals traders from HSBC Holdings Plc, as the stablecoin giant deploys its deep pockets to build a vast gold reserve and challenge the established players of the bullion market.
HSBC's global head of metals trading, Vincent Domien, is set to join the cryptocurrency firm in the coming months, along with Mathew O'Neill, head of precious metals origination for Europe, the Middle East, and Africa, people familiar with the matter said. Both have been serving their notice periods in the bank, the people added, asking not to be named as the information isn't public.
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Power Metallic Intercepts 5.35 Meters of 11.97% Cu (16.35% CuEqRec) in Hole 25-022 Infill Drilling,
Expanding the Lion Zone and Provides Updates on Fall/Winter Drill Program and Land Assembly
Company Announcement
November 4, 2025
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) provides a release of assays from its summer drill program and an update on its land assembly activities, together with an outlook to the fall and winter key exploration objectives.
Summer Drilling Release 2 -- Lion–Tiger Area
The summer drilling program was designed to search for extensions to the Lion Zone, specifically down plunge from known mineralization, and to infill drill, including "edge" holes, on the Lion zone to define the zone geometry to a confidence level that would allow a future mineral resource estimate to be carried out to an Indicated Resource classification.
Extensional Drilling Results
Extensional drilling was slow during the summer program as technical problems with the helicopter-supported drills led to lost holes (such as holes PML-25-019 and 024a in this release) that did not reach the mineralization horizon for Lion. Hole PML-25-017 has extended the zone to the west but failed to intersect the high-grade massive sulphide portion of the Lion zone and returned a disseminated zone of 7 meters @ 1.41% CuEqRec 1 that confirms the extension of the mineralizing Lion structure, which will see continued follow-up in the 2025 fall program. ...
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Tether has aggressively expanded its presence in precious metals in recent years, amassing one of the biggest hoards of gold outside of banks and nation states as part of its more than $180 billion in reserve assets.
HSBC is a powerhouse in precious metals, widely seen as the largest player after JPMorgan Chase & Co., with operations spanning futures trading, vaulting, and sending gold bars across the globe. ...
... For the remainder of the report:
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