WMAY’s Market Report

Welcome to the Investing News Network’s weekly look at the best-performing Canadian mining stocks on the TSX and TSXV, starting with a round-up of Canadian and US data impacting the resource sector.The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up 1.71 percent on the week to close at 605.43 on Friday (October 11). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 1.28 percent to 24,471.17 points over the same period.Statistics Canada released its September labor force survey on Friday. The report indicated 47,000 new jobs were added to the Canadian economy, an increase of 0.2 percent. The hiring gains helped to push the unemployment rate down by 0.1 percent to 6.5 percent, marking the first decline in the rate since January. Increases were primarily felt in the information, culture and recreation category as well as in the wholesale and retail trade one, with both sectors gaining 22,000 jobs. Professional, scientific and technical services jobs also saw gains in September, adding 21,000 new hires.Despite the gains, the employment participation rate fell by 0.2 percent to 64.9 percent in September, marking a year-over-year decline of 0.7 percent. South of the border, the US Bureau of Labor Statistics released September’s consumer price index on Thursday (October 10). The data showed a monthly increase of 0.2 percent and a year-over-year increase of 2.4 percent, both 0.1 percent higher than analysts predicted.The majority of the increase was owed to a 0.4 percent jump in food prices and a 0.2 percent increase in shelter costs. The higher figures may show that while inflation has tracked down there are still lingering pressures within the market and it could cause the US Federal Reserve to adjust its rate-cutting policy over its final two meetings of the year in November and December.In resource sector news, Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) announced it would be acquiring Arcadium Lithium (NYSE:ALTM,ASX:LTM) on Wednesday (October 9) in a US$6.7 billion deal. Rio Tinto CEO Jakob Stausholm said the acquisition represents a long-term strategic step in the company creating a world-class lithium business. The news acted as a tailwind for many lithium companies’ share prices this week.Markets saw gains this week with the S&P 500 (INDEXSP:INX) adding 1.35 percent to 5,815.04, the Nasdaq 100 (INDEXNASDAQ:NDX) moving up 1.59 percent to 20,271.97 and the Dow Jones Industrial Average (INDEXDJX:.DJI) climbing 1.07 percent to reach 42,863.87.Gold recovered from a mid-week slump that saw the precious metal fall to US$2,606 per ounce, climbing to US$2,655.86 on Friday at 4:30 p.m. EDT to end the week up by 0.09 percent. Meanwhile, silver saw recent gains erased as it fell 2.06 percent on the week to US$31.53 per ounce.Copper saw a slight rebound on Friday, but wasn’t able to fully recover from midweek losses, dropping 2.38 percent to US$4.51 per pound on the COMEX. More broadly, the S&P GSCI (INDEXSP:SPGSCI) posted a gain of 0.38 percent to close at 559.63 points.Against that backdrop, how did TSX- and TSXV-listed resource stocks perform? Here are the top five gainers. 1. American Lithium (TSXV:LI) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”American Lithium”,”url”:”http://www.americanlithiumcorp.com”,”description”:”Significant Land Position In One of the Most Promising and Underdeveloped Lithium Sedimentary Basins in North America\n”,”tickerSymbol”:”TSXV:LI”,”sameAs”:[],”image”:”https://investingnews.com/media-library/american-lithium.png?id=27863942&width=980″,”logo”:”https://investingnews.com/media-library/american-lithium.png?id=27863942&width=210″} Company Profile Weekly gain: 77.78 percent Market cap: C$230.61 millionShare price: C$1.28American Lithium is an exploration and development company working to progress its advanced-stage Falchani project in Southern Peru. An updated resource estimate for the property, released in October 2023, outlines measured and indicated reosurces of 5.53 million metric tons (MT) of lithium carbonate equivalent and an inferred resource of 3.99 million MT.A preliminary economic assessment for Falchani, released in February, estimates an after-tax net present value of US$5.11 billion and an after-tax internal rate of return of 32 percent with a payback period of three years.On June 27, the company announced it was working to optimize the flow sheet for the project, and said that due to the low impurity content it would resemble a more conventional mining and processing flow sheet. Additionally, American Lithium said it was intending to commence piloting work during the second half of 2024.Shares in American Lithium jumped on Thursday when the company released a letter to shareholders with an update on the state of the company and how it was navigating trends within the industry. The letter included steps American Lithium has taken to improve business fundamentals, how the company can benefit from Peru’s nuclear energy strategy and emerging support for premium prices for lithium carbonate. 2. Dore Copper Mining (TSXV:DCMC) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Dore Copper Mining”,”url”:”https://investingnews.com/stocks/tsxv-dcmc/dore-copper-mining/”,”description”:”Dore Copper Mining Corp is a company with near development high-grade gold and copper assets in Quebec with district scale exploration upside.”,”tickerSymbol”:”TSXV:DCMC”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.jpg?id=53726183&width=980″,”logo”:”https://investingnews.com/media-library/image.jpg?id=53726183&width=210″} Company Profile Weekly gain: 68.18 percent Market cap: C$18.96 millionShare price: C$0.185Dore Copper Mining is an exploration and development company with several projects located in the Lac Dore and Joe Mann mining camps in Québec, Canada. The company aims to become a copper producer operating with a hub and spoke model, in which its Copper Rand mill processes ore from several assets.The company’s land package hosts 13 past-producing mines and multiple key projects, including Corner Bay, Joe Mann and Devlin. The company’s resource target areas all lie within a 60 kilometer radius of its Copper Rand mill.According to the company’s website, mineral resource estimates from four of its projects have demonstrated a combined measured and indicated resource of 198.2 million pounds of contained copper and 66,000 ounces of contained gold from 3.58 million MT of ore at an average grade of 2.51 percent copper and 0.58 grams per metric ton (g/t) gold. The projects also contain inferred resources of 476.5 million pounds of copper and 248,000 ounces of gold from 7.01 MT at grades of 3.01 percent copper and 1.08 g/t gold.The most recent news from the company came on September 26 when it announced it had closed a C$4.68 million non-brokered private placement. The company said it would be using the funds for exploration, development, permitting activities and feasibility study work. 3. Element 29 Resources (TSXV:ECU) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Element 29 Resources Inc.”,”url”:”https://www.e29copper.com”,”description”:”Element 29 Resources Inc. is an emerging copper exploration and development company focused on advancing its portfolio of Peruvian projects – its flagship Flor de Cobre porphyry Cu-Mo project located in southern Peru and its recently discovered Elida porphyry Cu-Mo-Ag system located in central Peru. Both projects are near infrastructure, with strong community support and will be drilled in 2021.”,”tickerSymbol”:”TSXV:ECU”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=29647853&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=29647853&width=210″} Company Profile Weekly gain: 62 percent Market cap: C$40.53 millionShare price: C$0.405Element 29 Resources is an exploration company focused on advancing a portfolio of projects in Peru.Its primary projects consist of the Elida copper-molybdenum-silver project in West-central Peru and the Flor de Cobre project in the Southern Peruvian copper belt.The Elida site is composed of 29 concessions covering 19,749 hectares and hosts five distinct exploration targets within a 2.5 by 2.5 kilometer alteration system. A September 2022 mineral resource estimate showed an inferred resource of 321.7 million MT containing 2.24 billion pounds of copper at a grade of 0.32 percent, 205.7 million pounds of molybdenum at a grade of 0.03 percent and 27 million ounces of silver at 2.61 percent.The company’s less explored Flor de Cobre project is composed of 11 mining concessions and one mining claim covering 3,135 hectares. The company announced in March that it received environmental permitting for the site and would be partnering with the GlobeTrotters Resource Group, which discovered Elida, on exploration at For de Cobre.Element 29’s most recent news came on September 24 when it commenced a drill program at Elida with the objective of potentially expanding its inferred mineral resource estimate and increasing grading at the site. 4. World Copper (TSXV:WCU) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”World Copper”,”url”:”https://worldcopperltd.com”,”description”:”Developing world-class copper assets in Arizona and Chile.”,”tickerSymbol”:”TSXV:WCU”,”sameAs”:[“https://twitter.com/WorldCopperLtd”],”image”:”https://investingnews.com/media-library/world-copper.png?id=29182377&width=980″,”logo”:”https://investingnews.com/media-library/world-copper.png?id=29182377&width=210″} Company Profile Weekly gain: 50 percent Market cap: C$19.94 millionShare price: C$0.09World Copper is an exploration and development company working to advance its Zonia copper project in Central Arizona, US.The property, acquired following a merger with Cardero Resources in January 2022, has seen extensive exploration dating back 100 years and hosted open-pit mining operations until 1975.In the company’s corporate update on July 24, World Copper said it had made significant progress toward bankable feasibility and ultimately production, which it expects to begin in three to four years. World Copper added that it has the potential for pre-production revenue through the utilization of 14 million short tons of previously stockpiled material. Additionally, it highlighted that the site hosted previous mining at the site with a low strip ratio of 1:1.The most recent update from Zonia came on September 9, when the company produced an updated mineral resource estimate stating a total indicated resource of 686 million pounds of copper from 113.2 million short tons of ore with an average grade of 0.3 percent copper at a cutoff of 0.18 percent, and an additional inferred resource of 300 million pounds of copper from 59.2 million short tons of ore grading 0.25 percent. 5. Standard Lithium (TSXV:SLI) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Standard Lithium”,”url”:”https://standardlithium.com/”,”description”:”Providing Innovative Lithium Processing Solutions\n”,”tickerSymbol”:”FRA:S5L”,”sameAs”:[],”image”:”https://investingnews.com/media-library/fra-s5l.png?id=27866567&width=980″,”logo”:”https://investingnews.com/media-library/fra-s5l.png?id=27866567&width=210″} Company Profile Weekly gain: 47.32 percent Market cap: C$19.94 millionShare price: C$3.30Standard Lithium is an exploration and development company working to advance its South West Arkansas and Phase 1A projects in Arkansas and its East Texas project in Texas, US. The projects are all located in the Smackover Formation, which extends from Central Texas into the Florida panhandle. The region hosts brines previously used to recover bromine that also host significant commercial lithium concentrations.Standard entered into a 55/45 joint venture for South West Arkansas and East Texas with Equinor (NYSE:EQNR) in May to accelerate development of the projects.A pre-feasibility study for its flagship project released in September 2023 demonstrated a base case after-tax net present value of US$3.09 billion with an internal rate of return of 32.8 percent and a payback period of four years. The study also produced an indicated mineral resource estimate of 269,000 MT of lithium with an inferred resource of 74,000 MT.The company’s Phase 1A project will consist of a direct lithium extraction facility and lithium carbonate conversion facility designed to extract lithium contained in tail brine from existing bromine operations at LANXESS’ (OTC Pink:LNXSF) plant in Arkansas. A definitive feasibility study for the project released in September 2023, demonstrated an after-tax net present value of US$550 million and an internal rate of return of 24 percent, as well as an annual production of 5,700 MT of battery-quality lithium carbonate.Standard Lithium has seen gains since September 20 when it announced it had been selected by the US Department of Energy for an award of up to US$225 million to develop the South West Arkansas project. A few days after that, the company also released its results for its fiscal year ended June 30. ​FAQs for Canadian Mining Stocks ​What is the difference between the TSX and TSXV? The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange. ​How many companies are listed on the TSXV? As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.Together the TSX and TSXV host around 40 percent of the world’s public mining companies. ​How much does it cost to list on the TSXV? There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports. ​How do you trade on the TSXV? Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours. Data for this 5 Top Canadian Mining Stocks article was retrieved at 12:00 p.m. EDT on October 4, 2024, using TradingView’s stock screener. Only companies trading on the TSX and TSXV with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.Article by Dean Belder; FAQs by Lauren Kelly.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

(RTTNews) – Crude oil prices saw a modest pullback during trading on Friday, giving back ground after surging in the previous session.

(RTTNews) – After snapping a four-day losing streak in the previous session, the price of gold showed a strong move to the upside during trading on Friday.

The Iron Bear project in Canada has completed its pilot pellet production run, owner and operator Cyclone Metals( ASX:CLE) said on Thursday (October 10).“We have successfully produced Direct Reduction (DR) Pellets. This is a major milestone for the Iron Bear project. Our DR pellets demonstrated excellent physical and metallisation properties,” CEO Paul Berend said in a press release.The project returned direct reduction pellets grading 67.5 percent iron, 1.6 percent silica, 0.12 percent magnesium oxide, 0.65 percent calcium oxide and ultra-low deleterious elements.Cyclone added that the pellets have world-class reduction and metallisation properties and that they hold excellent physical properties, with cold crushing strengths of 438 to 486 kilograms per pellet.The company is now starting small-scale industrial production, with shipping of bulk concentrate samples to potential take-off clients scheduled for the second quarter of 2025.It has already collected run of mine sediment, which is set to be processed in the Iron Bear pilot plant at the COREM research institute in Québec City. The metallurgical testwork was performed by COREM and completed in August.The company also intends to produce Iron Bear DR concentrate grading 71 percent iron and 1.1 percent silica, along with more DR pellets and blast furnace (BF) acid pellets.Formerly known as the Block 103 project, the Iron Bear project has a mineral resource of 16.6 billion tonnes grading 29.3 percent iron. It is located in the mining-friendly jurisdiction of Newfoundland and Labrador, Canada, and is near infrastructure, less than 25 kilometers from an open-access heavy haul railway connected to the Sept Isles and Pointe Noire iron ore export ports. The project is also 75 kilometres away from the Menihek hydroplant, potentially giving it access to cheap renewable energy.Major iron ore export operations currently operate in the Labrador Trough and share the same rail and port infrastructure with Iron Bear.Cyclone said it will now focus on enhancing the chemical composition of its DR pellets. The company will also launch engineering studies that will address potential risks associated with power and rail infrastructure and explore the viability of its direct shipping ore and magnetite outcrops.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

Patronus Resources (ASX:PTN) has begun its first-ever drilling program in Australia’s Northern Territory, with 2,000 metres of reverse circulation drilling underway at the Glencoe gold deposit of its wholly owned Fountain Head gold project, the company said in a press release.Formerly known as Kin Mining, the company acquired a portfolio of gold projects in the Northern Territory as part of a merger with PNX Metals in September that combined the companies and their portfolios under the new name.The Fountain Head gold project is located on granted mineral leases north of the Mt Wells road between the towns of Pine Creek and Adelaide River. It holds a mineral resource estimate of 234,000 ounces gold and three deposits — Fountain Head, Glencoe and Tally Ho — all of which are open along strike and at depth. Glencoe’s resource stands at 79,000 ounces gold.“The current RC program is targeting five high-grade domains outside the existing MRE identified by PNX, particularly those related to high-grade gold in quartz veins oblique to the main anticline-related lodes,” Patronus said.Diamond drilling at the Fountain Head deposit will also be scheduled depending on the receipt of necessary government approvals. The company plans to begin drilling at its Thunderball uranium project as well subject to the same conditions.“This marks an exciting milestone for Patronus with the commencement of exploration activities on our underexplored Northern Territory assets,” Patronus CEO John Ingram said. “Expanding the existing gold resources at the Fountain Head Gold Project and testing of high-priority regional gold targets are the key areas of focus for Patronus.” An updated mineral resource estimate for Fountain Head is planned for 2025.“We are also looking forward to progressing uranium exploration in the Pine Creek district, where we hope to be drilling before the end of the year subject to receipt of approvals.” In addition to its gold and uranium projects in the Northern Territory, Patronus owns the Leonora gold project and Hayes Creek base metals project in Western Australia.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

Despite starting the year strong with prices trending above US$106 per pound, uranium values have spent much of the last six months contracting.Justin Huhn, founder and publisher of Uranium Insider, spoke with the Investing News Network on October 4 about what has depressed prices in 2024 and where the energy fuel is likely to go in the months ahead.“I’ve been following this market for about seven, pushing eight years,” Huhn said. “At this point, I’ve seen a lot of volatility, some screaming rallies, some extremely difficult to handle pullbacks and terrible sentiment on multiple occasions.”He continued, “You know, we’ve got one or two of these 30 percent to 50 percent pullbacks every single year since I’ve been following this, and this year was no exception. But I would argue that the sentiment in the sector was worse than I’ve ever seen it this summer, which is extraordinary.”Although prices have slipped around 20 percent since the January highs, they’ve stabilized above US$80 in early October. The uranium insider expects prices to start moving higher this month. “The US utilities have a new budget, with the beginning of the fiscal year,” he explainedAdding to that positive sentiment, Huhn also noted that the long-term outlook for nuclear and uranium demand is very positive, driven by factors like growth in data center electricity demand, support from major banks and tech companies, and policy initiatives from the US Department of Energy.Watch the interview above for Huhn’s full overview of the uranium market and his expectations for uranium stocks.Don’t forget to follow us @INN_Resource for real-time updates!Interview by Charlotte McLeod. Article by Georgia Williams.Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Stillwater Critical Minerals (TSXV:PGE,OTCQB:PGEZF) has signed a non-binding memorandum of understanding (MOU) with private company US Strategic Metals (USSM) to explore potential business opportunities within the critical metals sector. The MOU outlines a broad range of potential collaborations, some of which include marketing efforts, technical support and supply chain development for critical minerals, including nickel, cobalt and other metals essential to the production of electric vehicle (EV) batteries and renewable energy technologies.The MOU also explores potential offtake agreements, logistics collaboration and financing opportunities.The companies intend to work together in advocating for government support, particularly from US government agencies such as the Department of Energy and the Department of Defense. USSM CEO Stacy Hastie described the Stillwater Critical Minerals partnership as a key move in building towards a robust critical metal supply chain geared towards future expansion. Both companies also highlighted their partnerships with global miner Glencore (LSE:GLEN,OTC Pink:GLCNF).“We have strong backers who are aligned with our team’s goal to expand into one of North America’s largest and most important fully integrated producers of key battery and strategic metals with a full supply chain from exploration to production all based within the United States,” Hastie added in the company’s statement on October 10.He also added that Stillwater’s Stillwater West project, which is a potential source of at least eight critical minerals, aligns with the national mandate of the US government to bolster domestic production of the resource.The Montana-based explorer operates in the Stillwater mining district, known for its rich deposits of nickel, platinum, palladium and other minerals. The Stillwater West project has been recognized as one of the largest undeveloped sources of critical minerals in the US.As for USSM, the company’s plant will process recycled battery metals and feed from third parties to produce battery grade materials for the domestic supply chain. It is also developing a significant cobalt deposit.As the global demand for EVs and renewable energy systems rises, companies and states alike are in a race to reduce reliance on imports and secure stable supplies for the energy transition.Both companies anticipate that the partnership could position them favorably for federal government funding opportunities.Recently, the US government has allocated significant resources to support domestic critical minerals production, primarily in favor of building up industries like clean energy, advanced defense systems and consumer electronics.Stillwater has already received support from several federal agencies in conducting research into carbon sequestration and other green technologies. Similarly, the MOU with USSM may further enhance the company’s eligibility for additional government grants and partnerships.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

The Alta Mesa in-situ recovery uranium central processing plant (CPP) in South Texas is now open, enCore Energy (TSXV:EU,NASDAQ:EU) announced earlier this week.A 70/30 joint venture between EnCore and Boss Energy (ASX:BOE,OTCQX:BQSSF), Alta Mesa began production from its wellfield in June. The companies are targeting full operational capacity by 2026 following a phased ramp up.The operations are located 80 miles from enCore’s Rosita central processing plant (CPP) and wellfield, and 75 miles from its Kingsville Dome CPP and wellfield. The company’s Rosita uranium operations came online last November.A grand opening was held at the Alta Mesa CPP and wellfield on October 3, with former US president George W. Bush among the event’s 300 attendees.“(We) celebrated the restart of the Alta Mesa CPP and established enCore as the only uranium producer in the United States with multiple production facilities in operation,” the announcement read.Alta Mesa holds a total operating capacity of 1.5 million pounds of uranium per year plus an additional drying capacity of 0.5 million pounds. It previously produced nearly 5 million pounds of uranium between 2005 and 2013, before production was curtailed due to the low uranium price environment.The Texas-based operation uses ISR technology, a non-invasive uranium extraction process using natural groundwater and oxygen.The operation sits on over 200,000 acres of private land and mineral rights in and regulated by Texas, and EnCore indicates on its website that only 5 percent of the project area has been explored, as well as only 5 of the 52 identified linear miles of stacked uranium roll fronts.Joint venture partner Boss Energy wholly owns and operates the Honeymoon uranium ISR operation in South Australia, which entered production in April of this year. It is currently ramping up to annual production of 2.45 million pounds of uranium.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: Boss Energy is a client of the Investing News Network. This article is not paid-for content.

The BHP-funded Spoilbank Marina in Port Hedland will officially open at 5:30 p.m. AWST on November 29 with a community celebration, the Western Australia (WA) government said on Tuesday (October 8).The AU$187.5 million project is funded by the Western Australian government, the Town of Port Hedland and mining giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP).BHP contributed AU$12.4 million to the marina as per an announcement by the WA government in August 2021. In its 2023 Community Development Report, BHP highlighted the project’s aim to provide employment and business opportunities for local workers and businesses in Port Hedland and the wider Pilbara region.“(We are) committed to creating a thriving community that’s self-sufficient and not only brings great economic value to the people of Port Hedland but also brings tourists to our region and supports a greater level of interest in the area,” BHP wrote in its report.BHP, together with Fortescue (ASX:FMG,OTCQX:FSUMF), Roy Hill and a joint venture between Hancock Prospecting and Mineral Resources (ASX:MIN,OTC Pink:MALRF), also recently contributed AU$65 million to the development of Port Hedland’s upcoming battery metals export hub Lumsden Point.New facilities at Spoilbank Marina are set to transform Port Hedland’s foreshore “into a cultural and social hub” that includes a four-lane boat ramp, a publicly accessible breakwater, an event space and other public recreational facilities, and a vibrant waterfront promenade for the community.The marina will feature an art walk highlighting Aboriginal culture with artworks by Kariyarra artists, as well as marine-themed sculptures, terrazzo designs set into the ground and shaded areas adorned with patterns inspired by local flora and fauna.”This is an incredible project that has transformed the waterfront, and will no doubt become a major drawcard for many years to come, while also supporting recreational boaties to enjoy the water more safely,” said Tourism Minister Rita Saffioti.The marina also features boat pens, a separate entrance channel to the main shipping channel and trailer parking for vehicles.The government noted that the marina is “almost complete.” Construction of an interactive adventure playground within the project will soon begin, with Port Hedland recently securing a AU$4 million Lotterywest grant to design and build the additional facility.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

In a landmark move, Rio Tinto ( ASX:RIO,NYSE:RIO,LSE:RIO) has sealed an all-cash deal to acquire US-based Arcadium Lithium (NYSE:ALTM,ASX:LTM) for US$6.7 billion. If successful, the deal will catapult Rio Tinto to become the third-largest lithium producer worldwide.Following rumors that both companies were in talks for a possible acquisition, Rio Tinto announced that it is going all-in on the multi-billion sale. The deal, which is expected to close in mid-2025 pending approval by Arcadium’s shareholders, values Arcadium at US$5.85 per share, 90 percent higher than its October 4 closing price of US$3.08.Arcadium was established earlier this year following a US$10.6 billion merger between lithium majors Allkem and Livent, forming a vertically integrated company with global lithium operations spanning hard-rock mining, lithium brine extraction and chemical processing.The company’s broad resource base, with assets across Argentina, Australia, Canada and the United States, made the acquisition a highly attractive prospect for Rio Tinto, as the purchase now positions the company for strategic growth in the case of an anticipated price rebound.Arcadium’s shares surged in price by more than 40 percent after the rumors started, triggering gains in other lithium-focused stocks. It moved even higher following confirmation of the acquisition, and the company closed at US$5.55 on October 9 — now up 80 percent compared to its October 4 close.The deal has been unanimously approved by the boards of both companies. ​M&A ramping up in the lithium industry Rio Tinto’s move to acquire Arcadium reflects broader consolidation trends in the lithium industry, as major players seek to strengthen their market positions in anticipation of a ramping market geared towards the future.Just this August, Pilbara Minerals (ASX:PLS,OTC Pink:PILBF), an Australia-based lithium company, announced plans to acquire Latin Resources (ASX:LRS,OTC Pink:LRSRF) in a deal valued at AU$560 million. This acquisition would give Pilbara access to Latin Resources’ flagship Salinas lithium project in Brazil, diversifying its portfolio beyond its Pilgangoora operation in Western Australia.Additionally, Mineral Resources (ASX:MIN) continued its growth in the sector in late 2023 by acquiring the Bald Hill lithium mine, which saw its first full production quarter in 2024. MinRes is part of several lithium joint venture operations in Australia, including the Wodgina lithium mine, which it owns alongside Albemarle (NYSE:ALB), the world’s largest lithium producer.Mergers and acquisitions have been a recurring theme in the lithium sector this year, as companies prepare for a future where demand for electric vehicles, and consequently lithium, will skyrocket. Experts anticipate several more deals to take shape as companies seek to strengthen their footholds in key regions. ​Lithium prices expected to recover from temporary slump Overall, the lithium market has experienced significant volatility, with prices falling from their record highs seen in 2022. Analysts attribute this downturn to oversupply in the market, as well as macroeconomic factors such as high interest rates and slower-than-expected EV sales growth. However, most experts believe the price slump is temporary, with demand for lithium set to rebound as EV adoption accelerates globally.Rio Tinto’s interest in Arcadium follows continued downward price momentum for lithium this year. Industry analysts view the timing of the potential acquisition as strategic, allowing Rio to capitalize on the downturn while positioning itself for future growth as demand for lithium is expected to rise significantly in the next decade. Lithium-ion batteries are integral to the EV industry and demand is projected to increase as major automakers ramp up production of electric vehicles.If successful, the acquisition would propel Rio Tinto into a leading position in the global lithium market, trailing only Albemarle and SQM in production capacity. Analysts from Canaccord also estimate that a combined Rio Tinto-Arcadium entity could supply around 10 percent of the global lithium chemicals market by 2030. Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Strong electric vehicle (EV) sales have been driving up demand for key battery raw materials in recent years. EVs require lithium-ion batteries to run, and each battery could contain up to 15 kilograms of cobalt.This means that as demand for EVs increases, so too will demand for cobalt — and, as one of the top four cobalt-producing countries in the world, Australia finds itself in a position to capitalise on this demand.About 74 percent of global cobalt output comes from the Democratic Republic of Congo (DRC). However, Australia is proving to be a solid contender; though it is only responsible for 2 percent of the world’s cobalt production, it holds about 15.5 percent of global reserves. Moreover, while the DRC’s labour and mining practices have often been labeled unethical and unsustainable, Australian miners are focused on safer, more environmentally friendly practices.While cobalt prices haven’t recovered from their fall in early 2023, EV demand is expected to be strong in the long term.When it comes to getting exposure to the Australian market, large players may be a good place to start. Read on for a look at the biggest cobalt stocks on the ASX sorted by market cap. All market cap and share price data was obtained on October 7, 2024, using TradingView’s stock screener. 1. Ardea Resources (ASX:ARL) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”ARDEARES FPO [ARL]”,”url”:”https://investingnews.com/stocks/au-arl/ardeares-fpo-arl/”,”description”:”Ardea Resources Ltd is a mineral exploration company. It is focused on cobalt, nickel and scandium project and gold exploration.”,”tickerSymbol”:”AU:ARL”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.jpg?id=50869270&width=980″,”logo”:”https://investingnews.com/media-library/image.jpg?id=50869270&width=210″} Company Profile Market cap: AU$74.88 millionShare price: AU$0.45Ardea Resources’ primary focus is developing its wholly owned Kalgoorlie nickel project, which the company says “hosts the largest nickel-cobalt resource in the developed world.” Located in Western Australia, the project includes the Goongarrie Hub deposit.A 2023 prefeasibility study shows that the Goongarrie Hub has an ore reserve of 194.1 million tonnes at 0.05 percent cobalt and 0.7 percent nickel, resulting in 99,000 tonnes of contained cobalt and 1.36 million tonnes of contained nickel. The study indicates that this resource would support an open-pit mining operation with a 40 year mine life and annual output of 2,000 tonnes of cobalt and 30,000 tonnes of nickel. In late March, the company shared that a detailed hydrogeology drilling program had commenced to quantify long-term water supply.Ardea is now working on a definitive feasibility study (DFS), with funding from its strategic partners Sumitomo Metal Mining Co. (TSE:5713) and Mitsubishi (TSE:8058). The DFS is slated for completion in the second half of 2025. 2. Cobalt Blue Holdings (ASX:COB) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”COBALT BLU FPO [COB]”,”url”:”https://investingnews.com/stocks/au-cob/cobalt-blu-fpo-cob/”,”description”:”Cobalt Blue Holdings Ltd focuses upon the development and commercialisation of the Broken Hill Cobalt Deposit, Broken Hill,…”,”tickerSymbol”:”AU:COB”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.jpg?id=50869235&width=980″,”logo”:”https://investingnews.com/media-library/image.jpg?id=50869235&width=210″} Company Profile Market cap: AU$37.6 millionShare price: AU$0.086Cobalt Blue Holdings focuses solely on cobalt and is enthusiastic about the metal’s ethical and environmental potential within the renewable energy market. The company owns the New South Wales-based Broken Hill project, a cobalt asset that it says adheres to Australian labour and sustainability standards, and is planning the Kwinana cobalt-nickel refinery.In November 2023, Cobalt Blue released the results of its cobalt-nickel refinery study. During Stage 1, the proposed refinery would process third-party feedstock and have a capacity of 3,000 tonnes of cobalt sulphate per year, along with 1,000 tonnes of nickel sulphate annually. Stage 2 would have the option to include potential feedstock from Broken Hill. The study projects stable margins throughout potential cobalt price fluctuations. A few days later, the company announced that its potential partner for the refinery is Iwatani (TSE:8088), a battery minerals trader. According to Cobalt Blue, if everything goes through as planned, the refinery will be constructed on Iwatani’s property in Western Australia’s Kwinana industrial area. Cobalt Blue provided another update on the refinery in early October, reporting that construction is set to commence in the first half of 2025, with completion expected within 12 months. 3. Jervois Global (ASX:JRV) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Jervois Global”,”url”:”https://investingnews.com/stocks/au-jrv/jervois-global/”,”description”:”Jervois Global Ltd is a cobalt company with nickel and copper exposure, refinery assets, and growth opportunities.”,”tickerSymbol”:”AU:JRV”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.jpg?id=50869143&width=980″,”logo”:”https://investingnews.com/media-library/image.jpg?id=50869143&width=210″} Company Profile Market cap: AU$35.14 millionShare price: AU$0.013Jervois Global is focused on producing battery minerals, with a specific emphasis on cobalt. Jervois boasts operations worldwide and hopes to become the only cobalt miner in the US at its Idaho Cobalt Operation (ICO). In mid-2023, the company won US$15 million from the US Department of Defense (DoD) to fund drilling at ICO as well as a bankable feasibility study for construction of a US cobalt refinery. Resource drilling began at the Sunshine deposit at the ICO project shortly after, while work on a bankable feasibility study for the cobalt refinery was launched last October. DoD-funded resource-extension drilling at the RAM deposit kicked off in March of this year. The following month, Jervois completed its maiden JORC-compliant resource estimate for the Sunshine deposit as part of its deliverables under the DoD funding agreement. The deposit hosts inferred resources of 520,000 tonnes at 0.5 percent cobalt, 0.68 percent copper and 0.49 grams per tonne gold at a cut-off-grade of 0.25 percent cobalt, for 5.75 million pounds of contained cobalt.In June, Jervois inked a memorandum of understanding with current customer Global Tungsten & Powders to evaluate the latter potentially making a minority equity investment in Jervois’ proposed US cobalt refinery. 4. Kuniko (ASX:KNI) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Kuniko Limited”,”url”:”https://investingnews.com/stocks/au-kni/kuniko-limited/”,”description”:”Kuniko Ltd is a mineral exploration company. It is engaged in the development of non-lithium battery metal projects in Scandinavia for the European market.”,”tickerSymbol”:”AU:KNI”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.jpg?id=50869278&width=980″,”logo”:”https://investingnews.com/media-library/image.jpg?id=50869278&width=210″} Company Profile Market cap: AU$13.88 millionShare price: AU$0.155Norway-focused Kuniko is targeting three metals key for the EV industry: cobalt, nickel and copper. The majority of its assets are in Norway, including its Skuterud cobalt project, Undal-Nyberget copper project and Ringerike battery metals project. Ringerike hosts the past-producing Ertelien nickel-copper-cobalt target.In its quarterly report for September 2023, Kuniko highlighted significant developments, including an investment of AU$7.8 million by Stellantis (NYSE:STLA), which acquired a 19.99 percent interest in Kuniko and secured a 35 percent offtake for future production of nickel and cobalt sulphate from Kuniko’s Norwegian projects for nine years.In April, the company released a maiden resource estimate for Ertelien showing 23.3 million tonnes of inferred resources containing 49,700 tonnes of nickel, 37,300 tonnes of copper and 3,300 tonnes of cobalt, including high-grade sulphide resources of 4.59 million tonnes at 0.03 percent cobalt and disseminated sulphide resources of 18.68 million tonnes of 0.01 percent cobalt.Kuniko undertook a second phase expansion drill program over the summer at Ertelien. “Our aim is to demonstrate progress towards developing a Voisey Bay style resource as a potential new source of critical battery metals for European industries,” Kuniko CEO Antony Beckmand stated. The assay results were published in September, and will be incorporated into an updated resource estimate to be published in Q4 2024. Don’t forget to follow us @INN_Australia for real-time updates!Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.

Warren Buffett has a formidable reputation as an investor — with a current net worth of nearly US$134 billion, he’s among the world’s richest people and a business role model for many.Buffett, who runs Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B), is also well known for being uninterested in gold. For those wondering if he invests in gold, Buffet has made his stance on the yellow metal abundantly clear over the years, and it’s not positive — put simply, he doesn’t think gold fits in with his strategy of value investing, which involves picking stocks trading for less than they are worth. Given Buffett’s aversion to gold, market watchers were understandably surprised when Berkshire Hathaway invested in Barrick Gold (TSX:ABX,NYSE:GOLD) in Q2 2020, paying around US$560 million for about 21 million shares of the major gold miner.What was behind that decision? Many headlines proclaimed that Buffett had changed his mind on gold. But there were plenty of counterpoints — some suggested that it could have been another person at Berkshire that made the trade and not Buffett himself; others pointed out that there’s a difference between investing in gold and investing in a gold-mining company. Still others noted that Berkshire’s stake in Barrick was relatively small compared to its other holdings.Ultimately Buffett and Berkshire’s position in Barrick turned out to be a short one. Berkshire Hathaway exited only two quarters later, which was just long enough to reap the rewards of gold’s big bump from the COVID-19 crisis. Perhaps the Oracle of Omaha was clued in to the precious metal’s status as a safe-haven asset in times of economic uncertainty.Whatever the reason for the moves at Berkshire, it’s interesting to look back at some of the comments Warren Buffett has made about gold. While he hasn’t spent a huge amount of time discussing gold (after all, he doesn’t like it), he’s spoken enough about it that there’s no mistaking his stance. Here’s a look at three quotes that sum up what Warren Buffett thinks about gold. What has Warren Buffett said about gold? 1. “Gold … has two significant shortcomings”“Gold … has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end” — Warren Buffett, letter to shareholders, 2011Warren Buffett’s 2011 letter to shareholders includes a fairly lengthy discussion on gold, which hit what was then an all-time high of around US$1,920 per ounce in September of that year.In the letter, Buffett lays out three types of investments, placing gold squarely in the second category, which involves “assets that will never produce anything.” Buyers purchase these assets, according to Buffett, with the hope that someone else will pay more for them in the future. “Owners are not inspired by what the asset itself can produce — it will remain lifeless forever — but rather by the belief that others will desire it even more avidly in the future,” he states in the letter.Gold advocates reacted strongly to those comments, arguing that the point of gold isn’t what it can produce; instead, its value comes from the fact that it’s a source of protection in times of crisis.Others have pointed out that gold does in fact have a good track record of producing returns. Responding specifically to Buffett’s comment that an ounce of gold will always only be an ounce of gold, Frank Holmes, chief investment officer at US Global Investors (NASDAQ:GROW), said that the Oracle of Omaha is simply wrong about the yellow metal.“Buffett’s always been negative on gold; his own company doesn’t pay a dividend, and his argument before was (that) gold doesn’t pay income,” Holmes said. “He’s totally wrong. Since 2000, bullion has far outperformed the S&P 500 (INDEXSP:.INX) by two to one, and it’s outperformed Berkshire Hathaway.”2. “It won’t do anything … except look at you”“I have no views as to where (gold) will be (in the next five years), but the one thing I can tell you is it won’t do anything between now and then except look at you” — Buffett, CNBC’s Squawk Box, 2009Most of the other things Buffett has said about gold relate to the two failings he mentions in his 2011 letter to shareholders: the metal’s lack of utility and the fact that it’s not procreative.During a 2009 episode of CNBC’s Squawk Box, Buffett aired his thoughts on those issues in a slightly different way. Speaking about gold in the next five years and if it should be part of a value investing strategy, Buffett said he had no opinion on where it might go — “The one thing I can tell you is it won’t do anything between now and then except look at you,” he said.That’s in contrast to stocks like Coca-Cola (NYSE:KO) and Wells Fargo (NYSE:WFC), which Buffett said would be generating money, and lots of it. He explained, “It’s a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.”The comment ends with another of Buffett’s well-known lines on gold, which he’s repeated in various ways over the years: “The idea of digging something up out of the ground, you know, in South Africa or someplace and then transporting it to the United States and putting into the ground, you know, in the Federal Reserve of New York, does not strike me as a terrific asset.”For Buffett, value relates back to usefulness, and without a specific use gold has neither. Interestingly, the same thought process does not apply to silver — Buffett has put money into silver before, and believes its dual nature as both a precious and an industrial metal make it useful and therefore valuable.3. “Gold is a way of going long on fear”“With an asset like gold, for example, you know, basically gold is a way of going long on fear, and it’s been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in the year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money. But the gold itself doesn’t produce anything” — Buffett, CNBC’s Squawk Box, 2011Warren Buffett has also spoken fairly extensively about his belief that people who buy gold are essentially betting on fear. The quote above is from a 2011 episode of CNBC’s Squawk Box, but he also brings this idea up in his 2011 letter to shareholders.“What motivates most gold purchasers is their belief that the ranks of the fearful will grow,” he says in the letter. And indeed, gold is often described as a safe-haven investment, meaning that people flock to it in times of turmoil in order to feel more secure and to balance out other areas of their portfolios.While Buffett admits that “during the past decade this belief has proved correct” — in other words, fear did spur gold demand — overall he sees going long on fear as a problem. Again he goes back to the idea that gold lacks utility and is not procreative.As he explains, all the gold in the world at the time would be worth US$7 trillion. By his calculations, that’s equivalent to roughly a billion acres of farmland in the US plus seven ExxonMobils (NYSE:XOM) and with an additional US$1 trillion to spare.“And if you offered me the choice of looking at some 67-foot cube of gold … and the alternative to that was to have all the farmland of the country, everything, cotton, corn, soybeans, seven ExxonMobils. Just think of that. Add $1 trillion of walking around money. I, you know, maybe call me crazy but I’ll take the farmland and the ExxonMobils,” he said. Will Warren Buffett change his mind about gold? Berkshire’s Barrick investment was certainly a surprise for many, it doesn’t necessarily mean that Buffett has changed his mind about gold. He’s been consistent in his approach to the precious metal for years, and it seems unlikely that he’ll do an about-face any time soon. This is an updated version of an article first published by the Investing News Network in 2020. Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Newmont (TSX:NGT,NYSE:NEM) has entered into a definitive agreement to sell its Akyem gold mining operation in Ghana to Zijin Mining Group (OTC Pink:ZIJMF,SHA:601899) for up to US$1 billion. The transaction, expected to close in the fourth quarter of 2024, includes a cash payment of US$900 million at closing, with an additional US$100 million payment within a five year window.The decision to sell the Akyem mine comes as part of Newmont’s ongoing asset divestiture program, which was announced earlier this year. While the sale of Akyem marks Newmont’s exit from the asset, the company remains committed to its other operations in Ghana, including its Ahafo South gold mine and Ahafo North gold project.Newmont’s Ahafo South and Akyem gold operations are the country’s two highest producers of gold, putting out 581,000 and 295,000 ounces of gold in 2023, respectively.According to Tom Palmer, president and CEO of Newmont, the sale will help the company achieve greater value for shareholders and enable Newmont to focus on assets that are central to its long-term growth strategy. “The successful completion of this transaction will strengthen our confidence in Ghana as a favorable mining jurisdiction and Newmont will continue to support the growth and development of the region including our development of Ahafo North,” he said in the announcement.Zijin Mining, a major player in the global mining industry, is expected to benefit from this acquisition as it seeks to expand its portfolio of international mining assets. The deal offers Zijin the opportunity to further establish its presence in West Africa.In addition to the US$900 million upfront payment, Newmont is set to receive a further US$100 million on the ratification of the mine’s extended eastern mining lease by the Ghanaian Parliament. If the mining lease or a replacement one has not yet been ratified within five years of the closing date, Newmont will instead receive the payment on the five year anniversary.The divestiture is in line with Newmont’s ongoing capital allocation strategy, which includes improving its balance sheet and returning capital to shareholders. The company has indicated that proceeds from the sale will be used to strengthen its financial position, which has been a priority amid fluctuating gold prices and the evolving regulatory environment.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

GreenX Metals (ASX:GRX,LSE:GRX) has won against the Republic of Poland in international arbitration claims concerning the Jan Karski coal project.In a Tuesday (October 8) release, the company announced that it has been awarded around 252 million pounds, equivalent to AU$490 million, by the tribunal under the Australia-Poland Bilateral Investment Treaty (BIT). The announcement also resulted in a significant increase in GreenX’s share price, which jumped above AU$0.90.“The tribunal has unanimously held that the Republic of Poland had breached its obligations under the treaties in relation to the Jan Karski project, entitling GreenX to compensation,” the press release reads. The Polish government reportedly blocked the development of both the Jan Karski and Dębiénsko coal mines, depriving GreenX of the entire value of its investments in the country. The company noted that while its Jan Karski claims were successful, the tribunal did not uphold the claim under the treaties in respect of the Dębieńsko project.The claim was brought under the United Nations Commission on International Trade Law Rules (UNCITRAL) and was filed in 2020, when GreenX Metals was still known as Prairie Mining. Arbitration hearings regarding the claim lasted for two weeks and concluded in November 2022. In the proceedings, GreenX claimed damages of up to 737 million pounds or AU$1.3 billion, including the assessed value of its lost profits. The awards are final and binding on the parties, with no requests for reconsideration allowed by the tribunal. Each party was ordered to cover its own legal fees, expenses and arbitration costs relating to the claim. All of GreenX’s were funded on a non-recourse basis from specialist arbitration funder Litigation Capital Management (LCM), which was secured in July 2020.GreenX said that it will provide further details once it has completely reviewed the full text of both awards with its legal team. The mining company has multiple earn-in agreements for copper and gold projects in Europe, and recently entered into one for the Tannenberg copper project in Germany.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

Uranium-focused Cosmos Exploration (ASX:C1X) announced the assay results from its maiden rock sampling program at the Nut Lake South project in Thelon Basin, Nunavut, Canada.A total of 16 rock chips returned uranium results above 0.3 percent U3O8 along with associated metals. The samples were gathered from three prospects: the new Gyrfalcon and Snow Goose prospects and Tundra Swan.High-grade mineralisation was seen at Gyrfalcon, with grades up to 1.2 percent uranium, 1.0 percent molybdenum, 31 grams per tonne silver, 0.4 percent lead and 487 parts per million copper.Snow Goose results also included high grades, assaying up to 1.1 percent uranium, 0.3 percent molybdenum, 4.8 grams per tonne silver, 0.4 percent lead and 509 parts per million copper.“It is good to see we have generated significant rock chip results soon after acquiring these projects within the last few months,” commented Jeremy Robinson, executive chairman of Cosmos.Cosmos said that the rock sampling also confirmed radioactivity at the project. It added that uranium mineralisation at the three prospects “exhibits a polymetallic mineral signature analogous to … the Angilak deposit, with anomalous to high concentrations of molybdenum, lead, silver, and copper.”The Angilak property is owned by Canadian mineral company Atha Energy (TSXV:SASK) and is among the projects driving growing interest in the Thelon Basin.“The project’s close lithological and geochemical associations with the Angilak deposit support the exploration model for further work on the project,” the release states.Cosmos confirmed its 100 percent acquisition of the Nut Lake South and Angilak West projects in June, following its agreement with Northex Capital Partners to acquire 80 percent of the Fenix uranium project in the Basin in May.The company’s top priority is advancing its portfolio of deposits in Thelon Basin.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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(RTTNews) – Sight Sciences Inc. (SGHT) announced that TearCare treatment improved functional visual outcomes, as well as signs and symptoms, in patients with dry eye disease during an investigator-initiated trial.

Union Pacific is all set to release its third-quarter earnings this month, and analysts expect a single-digit profit increase.

With HCA Healthcare gearing up to release its third-quarter earnings later this month, analysts expect double-digit earnings growth.

With United Parcel Service projected to release its third-quarter earnings later this month, analysts expect a single-digit earnings increase.

Bunge Global is expected to release its third-quarter earnings later this month and analysts expect a double-digit earnings decline.

Mastercard is all set to release its third-quarter earnings this month, and analysts expect a single-digit profit increase.

Camden Property Trust is poised to announce its third-quarter results later this month, with analysts predicting a single-digit decline in the company’s earnings.

March NY world sugar #11 (SBH25 ) Monday closed up +0.15 (+0.67%), and December London ICE white sugar #5 (SWZ24 ) closed up +5.60 (+0.98%). Sugar prices on Monday settled moderately higher. Sugar moved higher Monday after food processor Wilmar International cut its 2024/25 Brazil Center-South sugar production estimate to…

December ICE NY cocoa (CCZ24 ) Monday closed down -124 (-1.60%), and December ICE London cocoa #7 (CAZ24 ) closed down -1 (-0.02%). On Monday, cocoa prices gave up an early advance and turned lower after the dollar index (DXY00 ) rallied to a 2-month high, which sparked long liquidation…

December arabica coffee (KCZ24 ) Monday closed up +10.00 (+3.97%), and November ICE robusta coffee (RMX24 ) closed up +141 (+2.92%). Coffee prices on Monday rallied sharply, with arabica coffee posting a 1-1/2 week high and robusta posting a 1-week high. Excessive dryness in Brazil may curb coffee yields, and…

FirstEnergy is gearing up to announce its third-quarter results later this month, and analysts are projecting single-digit earnings growth.

Nov WTI crude oil (CLX24 ) Monday closed down -1.73 (-2.29%), and Nov RBOB gasoline (RBX24 ) closed down -4.30 (-2.00%). Crude oil and gasoline prices Monday posted moderate losses. Monday’s rally in the dollar index (DXY00 ) to a 2-month high undercut energy prices. Also, concerns about Chinese energy…

November Nymex natural gas (NGX24 ) on Monday closed down by -0.138 (-5.24%). Nov nat-gas prices Monday tumbled to a 3-week nearest-futures low and closed sharply lower. Forecasts for warmer US temperatures that will reduce heating demand for nat-gas are weighing on prices. Forecaster Maxar Technologies said Monday that forecasts…

The dollar index (DXY00 ) Monday rose by +0.36% to a 2-month high. Hawkish comments Monday from Fed Governor Waller and Minneapolis Fed President Kashkari were supportive of the dollar as they favor a slow pace to Fed rate cuts. The dollar also rallied moderately on Monday on reduced Fed…

The S&P 500 Index ($SPX ) (SPY ) Monday closed up by +0.77%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up by +0.47%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up by +0.82%. Stocks rallied on Monday, with the S&P 500 and Dow Jones…

Soybeans posted 9 to 10 cent losses across most contracts on Monday. CmdtyView’s national front month Cash Bean price is down 8 1/2 cents at $9.35 ½. Soymeal futures were steady to $1.50/ton higher on the day. Soy Oil contracts were down 125 to 143 points on the session, as…