Posted by AGORACOM-JC
at 4:10 PM on Thursday, November 7th, 2019
The headline pretty much says it all. Though HPQ has stated the
discussions are preliminary, this doesn’t hide the fact that HPQ has
moved incredibly fast from deciding to use its world-changing silicon
manufacturing process to enter the battery market.
It was only back on August 19th when Company CEO, Bernard Tourillon,
stated HPQ would “start meeting with end users” but few would have
expected NDA based discussions with a Li-ion battery manufacturer so
soon. Ironically, Tourillon says he expected something like this
“sooner” … now that is confidence.
In a small cap market full of companies claiming the holy grail of
supplying the battery market, it wasn’t hard to understand why investors
may have dismissed the Company’s OCT 31 statement that “HPQ fully
intends to use its Gen3 to produce and market silicon materials for
batteries”.
With discussions under NDA now started with a battery manufacturer,
HPQ has now set itself far apart from the pack and has earned the right
to be taken very seriously. Investors who have been waiting for ANY
company to move from theoretical to the actual boardroom, HPQ offers a
very compelling story.
Grab your favourite beverage and watch this interview with CEO Bernard Tourillon.
Posted by AGORACOM-JC
at 2:46 PM on Thursday, November 7th, 2019
SPONSOR: BetterU Education Corp.
aims to provide access to quality education from around the world. The
Company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
BTRU: TSX-V
EdTech Startup Adda247 Raises $6 Mn in Series B Funding led by Info Edge
Edu-tech startup Adda247 on Thursday said it has raised USD 6 million (about Rs 42.6 crore) in funding, led by Info Edge (India), the parent company of online recruitment portal Naukri.com, and Asha Impact, an impact investment platform.
Edu-tech startup Adda247 on Thursday said it has raised USD 6 million
(about Rs 42.6 crore) in funding, led by Info Edge (India), the parent
company of online recruitment portal Naukri.com, and Asha Impact, an
impact investment platform.
The series B round of funding also saw participation from STL, an
existing investor of Adda247, a company statement said. With the latest
round, Adda247 has raised a total of USD 10 million till date, it added.
The company plans to leverage this funding for expanding to new exam
categories, adding new languages on the platform and amplifying its
pan-India presence.
In a separate regulatory filing, Info Edge (India) on Thursday said
it has entered into an agreement to invest about Rs 21 crore in Metis
Eduventures (Adda247) as primary acquisition of shares.
The aggregate shareholding of the company, post this investment, in
the said entity would be 6.97 per cent on fully convertible and diluted
basis, it added.
The filing noted that Metis Eduventures’ turnover was Rs 46.7 crore as on March 31, 2019.
Last week, Info Edge had announced acquisition of securities in Metis
Eduventures for an amount of about Rs 7.06 crore through secondary
purchase of shares from its existing shareholders.
Founded by Anil Nagar and Saurabh Bansal in 2010, Adda247 offers
products like live video classes, on-demand video courses, mock tests
and books focused on government examinations. It also operates
exam-specific platforms like sscadda.com, teachersadda.co.in,
bankersadda.com and careerpower.in.
The company has seen 10 times growth in the last three years in terms of revenue and paid users.
Adda247 has more than
40 million users on its platform and over 3 million Daily Active Users,
its co-founder and CEO Anil Nagar said adding that “more than 60 per
cent of our users come from tier III cities and small towns and that is
where we are seeing unprecedented growth and engagement.â€
Currently, Adda247 is present in both online and offline platforms
with more than 450 coaching centres, over 500 professionals and 1,000
teachers associated. It has successfully trained more than 100 million
students till date, the statement said. PTI SR
A new report produced by the editors of Hemp Industry Daily
says retail sales of CBD in the United States are on track to
surpassing $1 billion in 2019. This would imply 133% growth over 2018
sales.
Even more interestingly, the newly released 2019 Hemp & CBD Industry Factbook says CBD retail sales in the U.S. may eclipse $10 billion by 2024.
“The recent surge of consumer demand for CBD, coupled with
increasingly easy access to CBD products, is expected to drive retail
sales to about $1.1 billion-$1.3 billion in 2019,†said Kristen Nichols,
editor of the Second Annual Hemp & CBD Industry Factbook. “We
project retail CBD sales will increase to $10.3 billion by 2024, a
five-year compound annual growth rate of 54%.â€
Seeking to fill the gap left by the lack of federal agencies tracking hemp as a commodity, the 2019
Annual Hemp & CBD Industry Factbook seeks to provide understanding
of the current and future challenges needed to make the most accurate
and informed business decisions. Research-driven insights, will help
business professionals understand economic, agricultural and regulatory
developments impacting their positions and growth in the industry.
“Imagine running a race with brand-new shoes and a burst of energy
but no idea what the course looks like. That’s somewhat the position in
which today’s hempy industry finds itself,†Nichols said. “Relying on
deeply researched data points along the way could make the difference
between hitting the finish line and running off course.â€
Posted by AGORACOM
at 9:20 AM on Thursday, November 7th, 2019
Loncor Resources Inc. (“Loncor” or the “Companyâ€)
(TSX: “LN”; OTCQB: “LONCF”), a Canadian gold exploration company with
significant projects in the Democratic Republic of the Congo (“DRCâ€),
is pleased to provide an update on exploration activities undertaken by
Barrick Gold Corporation (NYSE: “GOLD”; TSX: “ABX”) (through its
subsidiary, Barrick Gold (Congo) SARL) (“Barrickâ€) on
Loncor’s Ngayu Joint Venture Project in northeastern DRC. Recent
exploration has focussed on the major Imva fold structure where a number
of drill targets have been developed. Drilling is now expected to
commence during the coming dry season.
The opening of the Mambati airstrip in September is expected to
assist in expediting the forthcoming drilling program. The Ngayu
Archaean Greenstone Belt is 200 kilometres southwest of
Barrick/AngloGoldAshanti’s Kibali Gold Mine. Barrick’s exploration at
Ngayu during the most recent quarter has focused on four priority areas
all located along the 30 kilometre-long Imva fold structure (see Figure 1
below). These blocks are Bavadili/Bavanidi, Bakpau, Lybie (Matete
east)/Salisa and Bikira-Makasi.
At Bavadili, further trenching was undertaken to test the concept of a
mineralized northwest trending shear corridor parallel to the
interpreted F2 axial plane. Results were encouraging and included 24
metres @ 0.94 g/t Au and confirmed the mineralized corridor with
mineralization associated with brecciated cherty “BIF†(Banded Ironstone
Formation) with disseminated limonite, weak hematite alteration along
with sugary quartz veins and fine cubic boxworks (~ 5% pyrite). The
mineralization occurs along a strongly foliated northwest-southeast
structure between dolerite to the south and basalt to the north.
Results support and confirm the model of a +1.5 kilometre potential
mineralized structure from Bavadili Hill to Bavanidi. At Bavadili Hill,
additional trenching undertaken to test the continuity of the folded,
mineralized cherty BIF, 250 metres southwest from the mineralized cherty
BIF intersected in trench BVTR0114A, gave results of 24 metres @ 0.94
g/t Au.
Additional work involved a geological re-assessment of the Bavadili
Block, integrating all data including gold and multi-element soil
geochemical and geophysical data to improve the understanding of the
regional model. The new interpretation highlights more than 6
kilometres of multiple folded layers of anomalous BIF displaying two
sets of regional F1 and F2 folds with the P1 axial plane, trending
northeast, reactivated by P2, trending east-northeast, producing the
S-shape fold configuration which is interpreted to host the mineralised
shoots within the Bavadili Block. The interpretation further suggests
the same BIF continues 12 kilometres to the east of the Lybie/Salisa
targets.
At Lybie, encouraging results from trench NZTR0006 confirmed a
continuous mineralized corridor of +1 kilometre hosted within
volcanoclastic and brecciated cherty BIF within an interpreted fold
limb. The trench revealed at least two continuous mineralized
structures – the northwestern most of the two structures is from
colonial trenching which returned 20 metres @ 0.58g/t Au, whereas trench
NZTR0006 returned 20 metres @ 0.54g/t Au.
At Salisa, results from rock sampling assayed up to 3.75 g/t Au in
volcaniclastic and 3.05 g/t Au hosted in BIF and coincide with the soil
source line trending northeast-southwest. To better trace the
mineralized system and constrain the potential and the source of the
higher grade rock samples, a scout trenching program is underway.
At Bakpau, trenching has been completed on northwest-southeast and
north-south trending sections on widely spaced trench lines. The two
trenches, BKTR0005 and BKTR0006, respectively, at 500 metres northeast
and southwest of trench BKTR0001 (70 metres @ 0.34g/t Au), returned 26
metres @ 0.35 g/t Au and 30 metres @ 0.12 g/t Au, respectively. These
trenches have exposed and confirmed the continuity of anomalous grade,
near surface mineralization in the Bakpau East Zone over a strike length
of 1.2 kilometres.
At Medere, trenching on the +800 metre long 80ppb soil anomaly along
the northeast trending hill, focused on establishing the controls on
mineralization (structure and alteration) and trends of mineralization
along strike between the zones exposed in previous trenches and
artisanal pits. Significant gold results from the first trench across
quartz stockwork style mineralization were received during the most
recent quarter with a trench intersection of 48 metres @ 0.51g/t Au and
is still open to the southeast. The current trenching has only been
able to expose the margin of the soil anomaly due to thick scree/talus
cover on the hill slopes towards the southeast.
In addition to outlining drill targets along the Imva fold, drilling
is also planned to be undertaken during the forthcoming drill campaign
at the Anguluku prospect area (including Golgotha, Baberu and Bayinga)
in the southwest side of the Ngayu greenstone where a sequence of fine
grained metasediment, carbonaceous shale, metabasalt and BIF trend
approximately east-west and dip moderately to south-southwest within an
antiformal structure. An initial 10 core hole (2,490 metres) drilling
program is proposed to test 4,500 metres of potential strike.
About Loncor Resources Inc. Loncor
is a Canadian gold exploration company focused on two projects in the
DRC – the Ngayu and North Kivu projects. Both projects have historic
gold production. Exploration at the Ngayu project is currently being
undertaken by Loncor’s joint venture partner Barrick Gold Corporation
through its DRC subsidiary Barrick Gold (Congo) SARL (“Barrickâ€).
The Ngayu project is 200 kilometres southwest of the Kibali gold mine,
which is operated by Barrick and in 2018 produced approximately 800,000
ounces of gold. As per the joint venture agreement signed in January
2016, Barrick manages and funds exploration at the Ngayu project until
the completion of a pre-feasibility study on any gold discovery meeting
the investment criteria of Barrick. Subject to the DRC’s free carried
interest requirements, Barrick would earn 65% of any discovery with
Loncor holding the balance of 35%. Loncor will be required, from that
point forward, to fund its pro-rata share in respect of the discovery in
order to maintain its 35% interest or be diluted.
Certain parcels of land within the Ngayu project surrounding and
including the Makapela and Yindi prospects have been retained by Loncor
and do not form part of the joint venture with Barrick. Barrick has
certain pre-emptive rights over these two areas. Loncor’s Makapela
prospect has an Indicated Mineral Resource of 614,200 ounces of gold
(2.20 million tonnes grading 8.66 g/t Au) and an Inferred Mineral
Resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t
Au). Loncor also recently acquired a 71.25% interest in the
KGL-Somituri gold project in the Ngayu gold belt which has an Inferred
Mineral Resource of 1.675 million ounces of gold (20.78 million tonnes
grading 2.5 g/t Au), with 71.25% of this resource being attributable to
Loncor via its 71.25% interest.
Resolute Mining Limited (ASX/LSE: “RSG”) owns 27% of the outstanding
shares of Loncor and holds a pre-emptive right to maintain its pro rata
equity ownership interest in Loncor following the completion by Loncor
of any proposed equity offering. Newmont Goldcorp Corporation (NYSE:
“NEM”; TSX: “NGT”) owns 7.8% of Loncor’s outstanding shares.
Additional information with respect to Loncor and its projects can be found on Loncor’s website at www.loncor.com.
Posted by AGORACOM-JC
at 7:25 AM on Thursday, November 7th, 2019
Empowers’ Q3 2019 preliminary unaudited revenue saw a year over year growth of approximately 138%
Company’s Q3 preliminary total direct clinic expenses have been reduced by approximately 40% even with the addition of the six Sun Valley clinic locations.
Company also has patient visits in corporate clinics increase by triple digits, with October 2019 patients seen increasing by 336% to 1,847 versus October 2018 with 550 patients seen.      Â
Earnings results are set to be released on November 14, 2019 at 9:00 am Eastern Time
VANCOUVER, Nov. 7, 2019 – EMPOWER CLINICS INC. (CSE: CBDT) (OTC: EPWCF) (Frankfurt 8EC) (“Empower” or the “Company“), a vertically integrated and growth-oriented CBD life sciences company, a multi-state operator of medical health & wellness clinics, a CBD product producer and operator of an extraction facility in Oregon, is pleased to announce preliminary unaudited year over year revenue growth of 138% for the three months ended September 30, 2019. The company also decreased total direct clinic expenses by approximately 40%, while adding six new clinics as a result of the Sun Valley clinics acquisition.
The Company also has patient visits in corporate clinics increase by triple digits, with October 2019 patients seen increasing by 336% to 1,847 versus October 2018 with 550 patients seen.
“The Company is starting to feel the positive impact that the Sun Valley clinics acquisition has provided with their strong operational performance in Arizona, in conjunction with continued cost cutting measures with operations in Oregon and Washington State,” said Steven McAuley,
CEO of Empower. “We have also been able to integrate key back office,
admin, payroll & human resource functions from the Pacific Northwest
into the operational controls of Sun Valley, bringing improved productivity to the organization.”
As part of the Company’s continued expansion of our health &
wellness clinic model, we have already set up retail CBD product sales
in-clinic, and now we have launched expanded physician based services
starting with key Arizona clinics.
New Modalities and Services
Physician’s CBD Enhanced Massage, Acupuncture, or Cupping Sessions
Neurotransmitter (urine) Profile & Physician Consultation/Action Plan
Spectracell Micronutrient Test & Physician Consultation/Action Plan
Empower plans to release its third quarter results ending September 30th, 2019 on November 14, 2019 at 9:00AM Eastern time.
Financial Measures
This news release makes reference to certain non-IFRS measures,
including certain industry metrics. These metrics and measures are not
recognized measures under IFRS do not have meanings prescribed under
IFRS and are as a result unlikely to be comparable to similar measures
presented by other companies. These measures are provided as information
complimentary to those IFRS measures by providing a further
understanding of our operating results from the perspective of
management. As such, these measures should not be considered in
isolation or in lieu of review of our financial information reported
under IFRS. These non-IFRS measures, including the industry measures,
are used to provide investors with supplementary measures of our
operating performance that may not otherwise be apparent when relying
solely on IFRS metrics.
ABOUT EMPOWER
Empower is a vertically-integrated health & wellness brand with
it’s first hemp-derived CBD extraction facility under development, the
Company produces its proprietary line of cannabidiol (CBD) based
products and distributes products through company owned and franchised
clinics, with wholesale partnerships, online channels and with new
retail opportunities nationwide in the U.S. The company is a leading
multi-state operator of a network of physician-staffed wellness clinics,
focused on helping patients improve and protect their health, through
innovative physician recommended treatment options. The company has
commenced activity on how to connect its significant data, to the
potential of the efficacy of alternative treatment options related to
hemp-derived cannabidiol (CBD) therapies.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley Chief Executive Officer
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements”
or “forward-looking information” (collectively “forward looking
statements”) within the meaning of applicable Canadian securities laws. All
statements, other than statements of historical fact, are
forward-looking statements and are based on expectations, estimates and
projections as at the date of this news release. Forward-looking statements
can frequently be identified by words such as “plans”, “continues”,
“expects”, “projects”, “intends”, “believes”, “anticipates”,
“estimates”, “may”, “will”, “potential”, “proposed” and other similar
words, or information that certain events or conditions “may” or “will”
occur. Forward-looking statements in this news release include
statements regarding; the Company’s intention to open a hemp-based CBD
extraction facility, the expected benefits to the Company and its
shareholders as a result of the proposed acquisitions and partnerships;
the terms of the proposed acquisitions and partnerships; the
effectiveness of the extraction technology; the expected benefits for
Empower’s patient base and customers; the benefits of CBD based
products; the effect of the approval of the Farm Bill; the growth of the
Company’s patient list and that the Company will be positioned to be a
market-leading service provider for complex patient requirements in 2019
and beyond. Such statements are only projections, are based on
assumptions known to management at this time, and are subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
forward-looking statements, including; that the Company may not open a
hemp-based CBD extraction facility; that legislative changes may have an
adverse effect on the Company’s business and product development; that
the Company may not be able to obtain adequate financing to pursue its
business plan; general business, economic, competitive, political and
social uncertainties; failure to obtain any necessary approvals in
connection with the proposed acquisitions and partnerships; and other
factors beyond the Company’s control. No assurance can be given that any
of the events anticipated by the forward-looking statements will occur
or, if they do occur, what benefits the Company will obtain from them.
Readers are cautioned not to place undue reliance on the forward-looking
statements in this release, which are qualified in their entirety by
these cautionary statements. The Company is under no obligation, and
expressly disclaims any intention or obligation, to update or revise any
forward-looking statements in this release, whether as a result of new
information, future events or otherwise, except as expressly required by
applicable laws.
Investors: Steve Low, Boom Capital Markets, [email protected], 647-620-5101; Investors: Steven McAuley, CEO, [email protected], 604-789-2146; For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARICopyright CNW Group 2019
Tags: Cannabis, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in All Recent Posts, Empower Clinics Inc., Featured | Comments Off on Empower Clinics $CBDT.ca Announces Record Preliminary Unaudited Q3 2019 Revenue with 138% year over year increase and Details for Release of Financial Statements $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $OGI.ca $FAF.ca
Global Energy Storage to Hit 158 Gigawatt-Hours by 2024, Led by US and China
Wood Mackenzie Power & Renewables projects a thirteenfold
increase in grid-scale storage over the next six years. Here’s a
market-by-market breakdown.
Report projects that energy storage deployments will grow thirteenfold over the next six years, from a 12 gigawatt-hour market in 2018 to a 158 gigawatt-hour market in 2024.Â
Equates to $71 billion in investment into storage systems excluding pumped hydro, with $14 billion of that coming in 2024 alone.
For the energy storage industry, the past five years have been
something of a stage rehearsal for a market explosion to come, led by
the U.S. and China, but expanding to cover markets across the globe.
That’s the picture painted by Wood Mackenzie Power & Renewable’s latest report, Global Energy Storage Outlook 2019: 2018 Year in Review and Outlook to 2024.
Tuesday’s report projects that energy storage deployments will grow
thirteenfold over the next six years, from a 12 gigawatt-hour market in
2018 to a 158 gigawatt-hour market in 2024.
That equates to $71 billion in investment into storage systems
excluding pumped hydro, with $14 billion of that coming in 2024 alone.
This growth will be concentrated in the United States and China, which
will account for 54 percent of global deployments by 2024, followed
by Japan, Australia and South Korea in a second tier of growth markets,
and Germany, Canada, India and the U.K. rounding out the list.
Each of these markets is taking its own approach to integrating
energy storage into its grid operations and market structures, from the
state-by-state development in the U.S. to China’s five-year plan. But
they share a commitment to relatively aggressive renewables growth
targets, along with the attendant challenges of integrating an
increasing share of intermittent wind and solar power into the grid.
And much like the renewables that are driving their growth, the
batteries that make up the lion’s share of new storage systems being
deployed are falling in price.
That’s positioning them for a much broader integration into grid
operations beyond renewables integration, Ravi Manghani, WoodMac’s head
of storage research, noted in a Tuesday interview: “Over the last five
years, the world began to experiment with storage; in the next five,
storage will become a key grid asset.â€
Last year saw global energy storage deployments grow 147 percent
year-over-year to reach 3.3 gigawatts, or 6 gigawatt-hours, the report
states. That’s nearly double the average 74 percent compound annual
growth rate for the industry from 2013 to 2018. In fact, last year’s
deployments made up more than half of the total amount of storage
deployed in the past five years, “indicating an inflection in storage
demand,†Manghani said.
This inflection point is measured not only in terms of project
volume, but in the variety of regulatory and market structures allowing
these projects to be financed and built, he noted. The past half-decade
of energy storage growth has been driven by a relatively limited and
isolated set of revenue streams, as well as government incentives
designed to jump-start development in advance of the market structures
to unlock the value of storage, he said.
From 2019 to 2024, WoodMac projects a more mature but still
early-stage compound annual growth rate of 38 percent for key storage
markets, but with a far broader set of money-making opportunities for
the systems being installed. This will include a shift
from short-duration systems providing high-value, but limited-size
markets such as frequency regulation, to long-duration systems that can
start to displace diesel, oil and natural-gas peaker plants.
A market-by-market breakdown
We’ve already covered WoodMac’s growth projections for the U.S. energy storage market,
the world’s biggest at present, and still expected to retain that
position by 2024, if only just ahead of China. The U.S. deployed a
record 311 megawatts and 777 megawatt-hours of energy storage in 2018,
but that market is expected to double in 2019 and triple in 2020,
according to last month’s Energy Storage Monitor from WoodMac and the Energy Storage Association.
This growth will continue to be driven by key markets like
California, the country’s leader in behind-the-meter batteries, and
other states with gigawatt-scale energy storage deployment mandates such
as New York and Massachusetts. But it will also be driven by utilities
adopting storage for capacity or as part of large-scale solar projects,
as with recent large-scale contracts in Hawaii, Texas, Minnesota and
Colorado.
And of course, Federal Energy Regulatory Commission Order 841, which
orders the country’s regional wholesale market operators to open up
energy, capacity and ancillary services markets to energy storage, will
create new market opportunities.
Turning to Asia, “we’ve seen China wake up in terms of energy
storage, and slightly ahead of schedule,†Manghani said. China saw a 40
percent year-over-year energy storage market growth in 2018, driven by
more than 300 megawatts, or nearly 500 megawatt-hours, of utility-scale
deployment.
In November 2017, China’s government announced a 10-year plan for developing its own grid-scale energy storage industry.
This was partly a means of supporting and building upon its already
massive dominance in battery manufacturing for electric vehicles, but
it’s also a response to China’s mounting grid challenges — namely,
integrating the massive amounts of wind and solar power being built in
remote western regions to the country’s urban east.
And when China decides to build grid batteries, it builds them at
scale. “The majority of the deployments are currently pilot-scale
projects — but when China does pilot-scale projects, we’re talking about
tens of megawatt-hours,†Manghani said. Last year saw one
101-megawatt/202-megawatt-hour energy storage project come online in
Jiangsu, and another 240-megawatt/720 megawatt-hour project approved in
Gansu to reduce renewables curtailment.
In the next five years, several more large-scale energy storage
projects to support grid reliability and flexibility are expected to
come online. About 65 percent of China’s 2018 installed capacity was
developed by the State Grid Corporation of China for ancillary services
purposes, indicating the importance of central planning for growth.
South Korea represents a similar story of how government planning can
drive massive energy storage market growth, with a new policy to allow
storage-backed wind and solar projects to earn renewable energy
certificates worth five times their capacity value driving a massive
boom in 2018. From less than 10 megawatt-hours deployed in 2017, South
Korea’s utility-scale and commercial-industrial behind-the-meter
deployments boomed to 1,100 megawatt-hours in 2018, with nearly $400
million in energy storage investments and a pipeline of projects that’s
already overshot its goal of 800 megawatt-hours by 2020.
Australia, by contrast, has been driven by solar-plus-storage projects on the residential side of the market,
due to its competitive energy markets and the increasingly attractive
economics of self-generated solar power. Australia led the world in
residential storage in 2018 with 150 megawatts, or 300 megawatt-hours,
of systems deployed. Japan ranked a close second in residential storage,
taking a slight lead over Germany in terms of 2018 deployments,
although Germany still retains the lead in total number of systems
deployed, at about 860 megawatt-hours.
At the same time, policy shifts can have an impact on global energy
storage markets. The U.K. installed its own record-setting 408
megawatts/325 megawatt-hours of utility-scale storage in 2018. But as
these figures indicate, this boom was largely in the form of
shorter-duration battery systems, which could see their value decrease
significantly under changes to the U.K.’s capacity market mechanism to
de-rate shorter-duration systems in favor of multi-hour storage.
At the same time, a November European court ruling against the U.K.’s
capacity market mechanism — along with the broader uncertainty over how
the country’s departure from the EU under Brexit could affect its
energy future — has created challenges for the market.
Likewise, in Canada, last year’s efforts to incorporate energy
storage into wholesale markets in Ontario and Alberta have been
counterbalanced somewhat by the new Ontario government’s decision to
cancel hundreds of renewable energy projects.
Posted by AGORACOM
at 1:03 PM on Wednesday, November 6th, 2019
Kamloops,
British Columbia–(Newsfile Corp. – November 6, 2019) – Advance Gold
Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to
announce that the recently completed second phase of 3D Induced
Polarization (IP) geophysical survey on its Tabasquena project in
Zacatecas, Mexico, has significantly increased the size of its
continuous chargeability anomaly. This anomaly now has an east-west
width of approximately 400 to 500 metres and an apparent strike length
of over 1000 metres. The anomaly remains open to the north and to the
south and at depth.
Images
below are east-west cross sections representing key portions of the
overall anomaly where upcoming drilling will test this continuous
chargeability anomaly.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “After
our first phase of geophysics, we identified a large chargeability
anomaly with the highest chargeability at the southern end of the grid
and still wide open. In that southerly direction we have elevation
relief and it was also where the anomaly appeared to be closest to
surface. Prior to drilling this anomaly, we decided to carry out a
second phase of geophysics to see if the anomaly continued to the south.
The second phase of geophysics has revealed that the anomaly actually
has a much longer strike length and appears to be somewhat wider. This
chargeability anomaly is now at least 1000 metres from north to south
and approximately 400 to 500 metres from east to west. It sits below a
network of veins with widespread gold and silver mineralization that
ranges from anomalous to high-grade gold. There are three shafts on the
property that go down around 100 metres that were used in the historical
mining of the oxide zone of the Tabasquena vein. The geophysical
anomaly is primarily right below those shafts, starting at approximately
200 metres below the underground workings. It is fair to say that we
have identified a major target. Our next step will be to drill this
target, we expect to start this shortly and will put out a news release
once it has started.”
Gennen McDowall, Geophysical Advisor to Advance Gold Corp. commented:
“This southerly extension to the original IP grid has shown that the
large chargeability anomaly first detected in August is actually much
bigger than originally thought and appears to strike right across the
claim group and shows little evidence of ending either to the north or
to the south and its depth extent is as of yet unknown. The
chargeability anomaly is visible on every east-west IP line. The
observed near surface mineralisation may be an expression of a much
larger mineralised body underlying the entire Tabasquena project.”
Details of Geophysical Survey
The
first 3D Induced Polarization survey was carried out by GEOFISICA TMC
SA de CV, between August 3rd and August 14th, 2019. Approximately 9.6
kms of IP data was collected over the central portion of the company’s
claims. This was followed up by a second phase of geophysics consisting
of 5 east-west lines. The southerly extent of the second survey reached
just beyond the Tesorito shaft. An off-set pole dipole array was used.
Data
processing and inversion of the data was carried out using RES3DINV
software. The inversion model was extended to approximately 550 metres
below surface. 3D Voxel images together with a series of depth slices
were generated (all available on the company’s website).
The
main purpose of the IP survey was to map, laterally and at depth the
evolution of the known gold and silver veins and to identify any new
mineralised structures. The survey was designed in such a way to allow
approximately 500 to 550 metres of vertical depth investigation.
The
IP survey area encompassed the historic and new shafts that are located
to the east of the Tabasquena and Nina veins that define a mineralised
system that outcrops at surface for 2.0 km. From past exploration work,
the Tabasquena vein was recognized over approximately 70 m along strike
near the shafts but only at shallow depth (< 100 m).
The
fourteen (14) vertical sections that were extracted from the 3D IP
inversion voxels suggest the presence of (4) four main stratigraphic
horizons (lithological units) mainly characterized by their resistivity
signatures.
The
IP data also clearly shows that the large polarisable body/target is
apparently quickly deepening northward and getting closer to surface
southward. The IP anomaly starts at around 100 metres below the past
drill hole intersections that contained widespread gold and silver
mineralization in epithermal veins.
Chargeability
and resistivity anomalies are indicated on the IP sections (see report
on company’s website) and are graded as per their relative strength.
Those chargeability anomalies that are deemed to be caused by the same
anomalous target are grouped together in what is called a polarisable
axis. Only one main axis was delineated following the review of the IP
data, which was labelled IPT-1 (Map C351-3 & Figure 11, report on
company website). This axis is a single large amplitude continuous
chargeability anomaly running north-south, coincident with the two
shafts at Tabasquena, the Tesorito shaft and the surface projection of
the mineralised veins. This anomaly has been categorized as having a
high chargeability and is conductive. The anomaly has an average depth
of approximately 250 to 300 meters. It should also be mentioned that
this anomaly is visible on every line, albeit less intense on the most
northerly line, as the target is becoming deeper to the north.
In conclusion
This
geophysical work has now identified a large consistent chargeability
anomaly that can be seen on all lines, implying a strike extent of at
least 1000 metres and an apparent width of 400 to 500 metres. This
observed IP anomaly could define a much wider mineralised system at
depth.
The
main recommendation of the original geophysical report was that prior
to drilling the anomaly the 3D IP survey should be extended to the
southeast for at least 1 km in the direction of the Tesorito shaft. This
has now been completed and this new work has established that the main
anomaly does in fact continue past the Tesorito shaft and is somewhat
wider. A number of boreholes are now planned to intersect this anomaly.
Julio
Pinto Linares is a QP, Doctor in Geological Sciences with specialty in
Economic Geology and Qualified Professional No. 01365 by MMSA., and QP
for Advance Gold and is the qualified person as defined by National
Instrument 43-101 and he has read and approved the accuracy of technical
information contained in this news release.
About Advance Gold Corp. (TSXV: AAX)
Advance
Gold is a TSX-V listed junior exploration company focused on acquiring
and exploring mineral properties containing precious metals. The Company
acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas,
Mexico in 2017, and the Venaditas project, also in Zacatecas state, in
April, 2018.
The
Tabasquena project is located near the Milagros silver mine near the
city of Ojocaliente, Mexico. Benefits at Tabasquena include road access
to the claims, power to the claims, a 100-metre underground shaft and
underground workings, plus it is a fully permitted mine.
Venaditas
is well located adjacent to Teck’s San Nicolas mine, a VMS deposit, and
it is approximately 11km to the east of the Tabasquena project, along a
paved road.
In
addition, Advance Gold holds a 13.23% interest on strategic claims in
the Liranda Corridor in Kenya, East Africa. The remaining 86.77% of the
Kakamega project is held by Barrick Gold Corporation.
For further information, please contact:
Allan Barry Laboucan, President and CEO Phone: (604) 505-4753 Email: [email protected]
Posted by AGORACOM-JC
at 9:47 AM on Wednesday, November 6th, 2019
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China reverses decision to ban crypto mining in 2020
The plan to include cryptocurrency mining in China into a list of industries that would be banned in the country has reportedly been scrapped.
Earlier this year, the National Development and Reform Commission (NDRC) in China revealed it was considering putting crypto mining on a list of banned industrial activities, which would have effectively phased out the industry from the country.
The plan to include cryptocurrency mining in China into a
list of industries that would be banned in the country has reportedly
been scrapped. Earlier this year, the National Development and Reform
Commission (NDRC) in China revealed it was considering putting crypto mining on a list of banned industrial activities, which would have effectively phased out the industry from the country.
Crypto mining industry now safe in China
The future of the crypto mining industry in China has
been uncertain for the past six months, as the country’s State Council
has been considering implementing guidelines that would have forced the
entire industry out.
Back in April, the Chinese National Development and Reform Commission
(NDRC) published a draft proposal of its Industry Restructuring
Catalog, in which it recommended that crypto mining be put on a list of industries to be restricted in the country.
While just a draft, the proposal garnered a lot of negative reactions
in China, with many industry leaders arguing that it could be
detrimental to China’s dominance in the field. The country is not only
home to some of the largest mining hardware manufacturers, including Bitmain, Canaan, and Ebang, but also has some of the largest mining operations in the world.
However, the country seems to have scrapped its plans to blacklist crypto mining, as NDRC has published an updated version of its guidelines that come into effect on Jan. 1, 2020.
According to local media reports, NDRC, which works under China’s State Council, has removed cryptocurrency mining
from the list of industries that should be removed from the country.
The catalog contains detailed descriptions of what constitutes “virtual
currency mining.â€
Half of Bitcoin’s hashpower will remain in China
Officials from NDRC held a press conference on Wednesday, Nov. 6, where they explained
their decision behind updating the draft they published back in April.
The commission said they received over 2,500 suggestions on how to deal
with various issues raised by the draft catalog, adding that most of
them were “taken into consideration.â€
While there were no comments on NDRC’s decision to scrap plans for phasing out crypto mining, the commission was most likely responding to overwhelming pressure from the industry.
It’s important to note that even if the commission hadn’t changed its draft proposal, crypto mining
wouldn’t have been immediately banned from the country. The proposal
only included guidelines for local governments advising them on how to
gradually phase out the burgeoning industry from the country, not
legislation outlawing it.
When the news about the potential “ban†broke earlier this year, many
argued that it could ultimately be beneficial to the industry,
especially Bitcoin mining. The problem with Bitcoin mining centralization has been a looming one and dethroning China as the place responsible for more than half of Bitcoin’s hashpower could have brought much-needed decentralization to the space.
But, the latest NDRC guidelines show that Bitcoin mining will continue to be centralized in China—at least for now.
Posted by AGORACOM
at 7:56 PM on Tuesday, November 5th, 2019
SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining. Click Here For More Info
Exchange-traded fund inflows shot higher by the largest amount since the first quarter of 2016, in what the council attributed to accommodative monetary policies, safe-haven and momentum buying. During the third quarter, the Federal Reserve cut interest rates twice, and the European Central Bank cut interest rates in a package of easing measures.
Leading gold ETFs include the SPDR Gold Trust GLD, +0.01%, iShares Gold Trust IAU, +0.07% and the Aberdeen Standard Physical Swiss Gold Shares ETF SGOL, -1.51%.
Overall gold demand rose just 3% during the quarter, as jewelry demand shrank by 16% as the yellow metal’s prices rose.
Gold futures GC00, -1.67% were holding above the $1,500 an ounce level on Tuesday and have climbed by 19% over the last 12 months.
Central-bank buying fell by 38%, as the third quarter of 2018 featured the highest amount of buying on record. Bar and coin demand dropped by half.
The gold supply rose by 4%, helped by a 10% increase in recycling.
Posted by AGORACOM-JC
at 4:31 PM on Tuesday, November 5th, 2019
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Cannabis Canada: Pot industry added nearly $8B to GDP in August, StatsCan says
Cannabis sales in Canada expected to double next year to $3.16B: analyst
Canaccord Genuity cannabis analyst Matt Bottomley expects revenue in
Canada’s legal pot sector to more than double next year despite
slower-than-expected growth. Bottomley said in a research note to clients that Canada’s cannabis industry
should expect $3.16 billion in revenue in 2020, up from the $1.46
billion forecast for 2019. He added Canada’s cannabis retail figures
should see a five per cent reduction in overall sales in September from
the prior month to $121 million, but said subsequent growth should
advance at a five-per-cent monthly clip. Bottomley expects growth in the
recreational market to increase by just 7.5 per cent in 2020. Alongside
its latest estimates for the Canadian cannabis industry, Canaccord’s
analysts have revised sales projections for some of the country’s
largest licensed producers such as Canopy Growth, Aphria and Aurora
Cannabis.
BRNT secures multiyear white label deal with Valens GroWorks for 2.2M vape pens
BRNT Group, a company which has made its name making high-end cannabis accessories, is getting into the vape game. The company announced on Thursday a partnership with Valens GroWorks
to produce a minimum of 2.2 million vape pens over the next two years.
The deal, which is believed to be one of the largest publicly announced
multi-year white label agreements, is expected to generate over
$50-million in gross revenue for Valens, according to a statement
released by both companies. The vape devices are expected to be
available in select markets starting in the first quarter of next year
and roll out across Canada later in the year.
Canadian pot producer hires helicopter to avoid possible frost on outdoor grow
Looking for a novel way to ensure your outdoor crop won’t be impacted
by frost? Give your local helicopter pilot a call. That’s what 48North
did, according to an Instagram post published by Devin Piche, the company’s master grower.
A helicopter is able to float above an agricultural crop and
essentially suck up cold air upward away from plants which could be
damaged by a potential frost. “The helicopter was used to move warm air
in a temperature inversion down into the crop area to keep the
temperature above freezing,†according to Connor Whitworth, a 48North
spokesperson. The cannabis producer is harvesting the remaining cannabis
plants it is growing in its Good:Farm facility. Whitworth declined to
further comment on 48North’s outdoor harvest, which it has previously
stated expects to yield 40,000 kilograms of cannabis.
Alberta eyes 500 pot shops by 2021, no consumption lounges planned: regulatory official
Alberta is already the country’s market leader in the pot retail
space – and it looks like it could get even larger. Alberta Gaming,
Liquor and Cannabis expects its store count to grow to over 500 within
two years, according to the Calgary Herald, citing an official with the provincial regulator.
The regulator has already green lit 306 retail outlets across the
province, a number that will likely grow by 200 by 2021. However,
cannabis consumption lounges don’t appear yet to be coming out anytime
soon and would require legislative approval to establish those types of
facilities, the official said.
Canada’s cannabis industry contributed nearly $8B to GDP in August: StatsCan
Canada’s cannabis sector – both the legal and illegal market – contributed $7.92 billion to the country’s gross domestic product in August,
a figure that continues to grow from the $7.02 billion last October
when recreational cannabis was legalized and above the revised $7.79
billion mark made in July, according to new data published by Statistics
Canada on Thursday. The StatsCan figures also show Canada’s legal
cannabis industry has grown by 116 per cent
in the first 11 months since recreational marijuana was legalized. The
black market’s cannabis output has fallen by 22 per cent in that same
time, according to StatsCan estimates.
