Phenom Informs Shareholders of President Trump's Executive Order: Immediate Measures to Increase American Mineral Production
Rhea-AI Summary
Phenom Resources Corp (TSXV: PHNM) (OTCQX: PHNMF) has announced details regarding President Trump's recent Executive Order aimed at boosting domestic mineral production in the United States. The order, signed in March 2025, acknowledges America's former status as the world's largest mineral producer and addresses concerns about federal regulations hampering the sector.
The Executive Order establishes 10 to 30-day coordinated action plans involving multiple federal departments, including Defense, Interior, Agriculture, and Energy, to expedite mineral projects to production. The initiative specifically targets projects with existing operational plans or permit applications.
For Phenom, a key aspect is the order's focus on gathering industry feedback regarding regulatory bottlenecks and strategies to accelerate domestic mineral production. The company plans to actively participate in this consultation process, which could potentially accelerate drilling operations at its Dobbin and King Solomon gold projects.
Positive
- Potential acceleration of drilling permits for Dobbin and King Solomon gold projects
- Reduced regulatory barriers for mineral production operations
- Federal government support for expediting domestic mining projects
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, PHNMF declined 0.37%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - March 25, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") wishes to inform shareholders of a milestone Executive Order signed by President Trump last week that recognises the importance of mining to the nation, "once the world's largest producer of lucrative minerals," and recognizes that "overbearing Federal regulation has eroded its mineral production". It is important to note that President Trump is taking swift action on the industry's issues early on in his administration which will only improve the mineral sector with the commitment and actions. The Executive Order is the first decisive step in "taking immediate action to facilitate domestic mineral production to the maximum possible extent" that "can create jobs, fuel prosperity, and significantly reduce our reliance on foreign nations."
Among many points, the Executive Order sets out timely 10 to 30 day coordinated action plans for the Chair of the National Energy Dominance Council (NEDC), Secretary of Defense, the Secretary of the Interior, the Secretary of Agriculture, and the Secretary of Energy to advance mineral projects to production. The Executive Order applies to a pipeline of mineral production projects for which a plan of operations, a permit application, or other application for approval has been submitted.
Most relevant to the Company is the Executive Order's earnest move "to solicit industry feedback on regulatory bottlenecks and other recommended strategies for expediting domestic mineral production" that can be acted upon to the needed pipeline of high-quality mineral exploration projects for healthy sustained mineral production. The Company will vigorously provide inputs to this solicitation which could result in swifter drilling on its Dobbin and King Solomon gold projects.
The full Executive Order can be found with the following link: https://www.whitehouse.gov/presidential-actions/2025/03/immediate-measures-to-increase-american-mineral-production/.
About Phenom Resources Corp.
Phenom has
ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President T: (604) 340-7711 E: pcowley@phenomresources.com W: www.phenomresources.com
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.
Forward-looking information
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's use of proceeds raised in the Offering. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245994
FAQ
What is the timeline for implementation of Trump's mineral production Executive Order affecting PHNMF?
How will Trump's 2025 Executive Order impact Phenom Resources' (PHNMF) mining projects?
Which federal departments are involved in implementing the mineral production order affecting PHNMF?
What specific actions will PHNMF take in response to Trump's mineral production order?
