Posted by AGORACOM-JC
at 2:27 PM on Tuesday, October 8th, 2019
SPONSOR: New Age Metals Inc. The company also owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral Resource Estimate of 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces Inferred. Learn More.
———————
$1-billion sales agreement announced Monday represents the
culmination of a six-year turnaround for Toronto-based miner North
American Palladium Inc., its president and CEO says.
On a conference call to discuss the deal to sell the company to South
African miner Impala Platinum Holdings Ltd., Jim Gallagher said NAP was
in severe financial distress following a poorly executed mine expansion
in 2013 when financier Brookfield Capital Partners stepped in with a
US$130-million loan.
In 2015, with the company still struggling, Brookfield converted its
loan to equity to become the majority owner, on the understanding that
it would sell its stake when the turnaround was complete.
“That day has come today. We have a sale of the company in an
all-cash deal at near-record palladium prices and, except for a two-day
blip in March of this year, at near-record high share prices,†said
Gallagher on a conference call to discuss the deal.
“From virtual bankruptcy four years ago, we now have a sale to the tune of $1 billion.â€
Impala Platinum, which uses the nickname Implats, has offered to pay
$16 per share to Brookfield Business Partners LP, the majority
shareholder with 81 per cent of the stock, and $19.74 per share for the
remaining stake, resulting in an average price per share of $16.77.
Negotiations with Implats began in July and the companies had
unofficially set a price of around $16 per share, Gallagher explained.
The higher price for minority shareholders was agreed upon in
recognition of the more recent rise in share prices.
North American Palladium has been producing palladium, a lustrous
white material valued for its use in pollution-control devices for cars
and trucks, for 25 years at its Lac des Iles Mine at Thunder Bay, Ont.
It’s also involved in two exploration projects.
“Implats has had an exploration presence in Canada for more than two
decades and over the past three years we have developed a strong
relationship with and understanding of NAP and its management team and
operations,†said CEO Nico Muller in a news release.
“It is Implats’ view that the palladium market will remain in a
structural deficit in the medium term, which should lend considerable
support to stronger-for-longer pricing.â€
Implats said it was attracted to North American Palladium because of
its fully mechanized mine, which means low labour costs and leading
safety statistics, an estimated mine life of at least 15 years, and its
future exploration opportunities. About 700 people work at the mine.
The companies have agreed to a 30-day period during which a
termination fee of $24.5 million would be payable to Implats if a higher
bid is accepted, with the fee increasing to $37.7 million thereafter.
Implats would have the right to match any offer.
Closing of the transaction is expected in the fourth quarter, subject
to North American Palladium shareholder approval and other customary
conditions.
Posted by AGORACOM-JC
at 9:13 AM on Tuesday, October 8th, 2019
Harry Barr, Chairman & CEO, stated; “We are pleased to announce that this summers exploration efforts have doubled the strike length of prospective mineralization at our road accessible Genesis PGM-Ni-Cu Project in Alaska.
October 8th, 2019 – Rockport, Canada – New Age Metals Inc. (NAM) (TSXV:NAM)(OTC:NMTLF)(FSE:P7J) Harry Barr, Chairman & CEO, stated; “We are pleased to announce that this summers exploration efforts have doubled the strike length of prospective mineralization at our road accessible Genesis PGM-Ni-Cu Project in Alaska. Our Alaskan geological consultant, Avalon Development, has outlined subsequent stages of exploration including reconnaissance level prospecting, geologic mapping and geochemical sampling for all of the newly identified PGM-Cu-Ni targets. Ground-based geophysics and/or closely spaced airborne magnetics and EM surveys should also be conducted to provide better three-dimensional control on mineralization. Following these efforts, prioritization of targets is recommended followed by first-ever scout drilling.”
Genesis Summer 2019 Exploration Program Results
Two independent contractor evaluations were conducted earlier this summer on the Genesis project.
These evaluations included imagery processing and interpretation of
ASTER (Advanced Spaceborne Thermal Emission and Reflection Radiometer)
and associated LANDSAT8 satellite data to help map potential alteration
targets to aid district-scale PGM-Cu-Ni sulfide exploration. This effort
was conducted by Denver-based Image2Map Services, Inc. The second
effort involved reinterpretation of 400m spaced airborne magnetic and
resistivity surveys previously flown by the State of Alaska Div. of
Geological and Geophysical Surveys and limited ground IP surveys
conducted by a previous owner of the Genesis project. This effort was
conducted by Denver-based Condor Geophysics.
Previous exploration on the Sheep
Hill massif in the central part of the Genesis project revealed
stratabound sulfides over an 800 metre strike length, with consistent
PGM-Cu-Ni metal grades over multiple meter intervals, including 6 metres
grading 804 ppb platinum and 1,018 ppb palladium, and 12 meters grading
5,938 ppm nickel. There has
been no drilling on this district-scale project and the strike and depth
extent of Ni-Cu-PGE mineralization remains open to expansion. The geophysical signature of the Sheep Hill mineralization is strongly magnetic and moderately conductive. The
first-ever application of ASTER and LANDSAT8 imagery over Sheep Hill
shows a remarkably consistent correlation between a distinctive strong
iron oxide alteration signature and the geological and geophysical trace
of the previously discovered PGM-Cu-Ni sulfide mineralization hosted by
a dunite-lherzolite unit (Figure 1). ATSER and LANDSAT
imagery revealed at least two other sub-parallel alteration zones
adjacent to, and east of the known PGM-Cu-Ni mineralization at Sheep
Hill. These two zones are separated from each other and the known Sheep
Hill zone by talus fields composed of unaltered and unmineralized
ultramafic rocks that lie upslope from the PGM-Cu-Ni mineralization. Combining
ASTER and LANDSAT8 results with airborne magnetics and resistivity data
indicate the total length of the stratabound PGM-Cu-Ni mineralization
on Sheep Hill is at least 2,000m and open under alluvial cover in both
strike directions.
Click Image To View Full Size
Figure 1:
Combined ASTER serpentine alteration thematics and LANDSAT iron oxide
alteration thematics, Sheep Hill massif, Genesis project, Alaska.
Location of previous geochemical sampling shown in red squares.
At the adjacent Bernard Mt. massif,
centered about 7.5 kilometers west of Sheep Hill, ASTER and LANDSAT8
results combined with airborne magnetics and resistivity data indicate a
well constrained northeast trending band of conductive and magnetic
iron oxide alteration extending for at least 2,250 metres along the
south flank of Bernard Mt. (Figure 2). The stratigraphic position, ASTER
and LANDSAT8 alteration and airborne magnetic and resistivity
signatures are identical to those at Sheep Hill. Unlike
Sheep Hill, there has been virtually no prospecting, mapping or
geochemical sampling along the prospective target horizon at Bernard Mt.
Click Image To View Full Size
Figure 2:
Landsat 8 iron oxide alteration thematics over the Bernard Mt. massif,
Genesis project, Alaska. Location of previous geochemical sampling shown
in red squares.
Based on previous geological and
geochemical data combined with newly generated and/or interpreted ASTER,
LANDSAT8, airborne magnetics and airborne resistivity data,
a total of 23 exploration targets have been identified on the Genesis
project. The most prospective targets include 7 separate zones on
Bernard Mt. and an additional 9 zones on Sheep Hill. None
of the targets on Bernard Mt. have been explored, even at the
reconnaissance level, and only the western edge of one target zone,
which return significant PGM-Cu-Ni mineralization, has been mapped and
sampled at Sheep Hill. There has been no drilling on any of the targets identified on Sheep Hill or Bernard Mt.
NAM
management is actively seeking an option/joint-venture partner for this
road accessible PGM and Multiple Element Project using the Prospector
Generator business model.
About Genesis
The Genesis project is a PGM-Cu-Ni
property located in the northeastern Chugach Mountains, 75 paved road
miles north of the all-season port city of Valdez, Alaska. The project
is within 3 km of the all-season paved Richardson Highway and a high
capacity electric power line. The project is covered by 4,144 hectares
of State of Alaska mining claims owned 100% by New Age Metals. Past
exploration has revealed the presence of chromite-associated platinum
and palladium mineralization and stratabound Ni-Cu-PGE mineralization
within magmatic layers of the Tonsina Ultramafic Complex. Pyrrhotite,
pentlandite, and chalcopyrite occur in disseminations and net textured
segregations associated with platinum and palladium sulfides. There has been limited exploration over the Genesis project and there has been no past exploration drilling on the project. NAM
management is actively seeking an option/joint-venture partner for this
road accessible PGM and Multiple Element Project using the Prospector
Generator business model.
About NAM’s PGM Division
NAM’s flagship project is its 100%
owned River Valley PGM Project (NAM Website – River Valley Project) in
the Sudbury Mining District of Northern Ontario (100 km east of Sudbury,
Ontario). Recently the Company announced the results of the first PEA
(see News Release – June 27, 2019)
completed on the River Valley Project. The PEA has been developed by
various independent consultants – P&E Mining Consultants Inc.
(P&E) was responsible for the open pit mining, surface
infrastructure, tailings facility, and project economics; DRA Americas
Inc. (“DRA”) was responsible for all metallurgical test work and
processing aspects of the Project; and WSP Canada Inc. (“WSP”) was
responsible for the Mineral Resource Estimate. The PEA is a preliminary
report, however, it has demonstrated that there are potentially positive
economics for a large-scale mining open pit operation, with 14 years of
Palladium and Platinum production.
Qualified Person
The contents contained herein that
relate to Exploration Results or Mineral Resources is based on
information compiled, reviewed or prepared by Curt Freeman, a consulting
geoscientist for New Age Metals. Mr. Freeman is the Qualified Person as
defined by National Instrument 43-101 and is the owner of Avalon
Development Corp. and Anglo Alaska Gold Corp, which is the vendor of the
Genesis PGM Project. Mr. Freeman has reviewed and approved the
technical content of this news release.
Stock Option Grant
In addition, the Company announces
that it has granted 1,400,000 incentive stock options to directors,
officers and consultants of the Company at an exercise price of $0.05
per share for a period of five (5) years from the date of grant in
accordance with the Company’s Stock Option Plan. The Stock Options
granted will be subject to vesting restrictions, acceptance by the TSX
Venture Exchange and will be subject to regulatory hold periods in
accordance with applicable Canadian Securities Laws.
On behalf of the Board of Directors “Harry Barr” Harry G. Barr, Chairman and CEO
For further information on New Age Metals, please contact Harry Barr at 613-659-2773, or [email protected]
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward
Looking Statements: This release contains forward-looking statements
that involve risks and uncertainties. These statements may differ
materially from actual future events or results and are based on current
expectations or beliefs. For this purpose, statements of historical
fact may be deemed to be forward-looking statements. In addition,
forward-looking statements include statements in which the Company uses
words such as “continue”, “efforts”, “expect”, “believe”,
“anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”,
“estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or
similar expressions. These statements by their nature involve risks and
uncertainties, and actual results may differ materially depending on a
variety of important factors, including, among others, the Company’s
ability and continuation of efforts to timely and completely make
available adequate current public information, additional or different
regulatory and legal requirements and restrictions that may be imposed,
and other factors as may be discussed in the documents filed by the
Company on SEDAR (www.sedar.com), including the most recent reports that
identify important risk factors that could cause actual results to
differ from those contained in the forward-looking statements. The
Company does not undertake any obligation to review or confirm analysts’
expectations or estimates or to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
Investors should not place undue reliance on forward-looking statements
Tags: clean energy, CSE, palladium, PGM, PGM Demand, stocks, tsx, tsx-v Posted in All Recent Posts | Comments Off on New Age Metals $NAM.ca Reports Size of Prospective #PGM #Copper #Nickel Mineralization Doubled at Genesis PGM-Cu-Ni Project, Alaska $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN
Posted by AGORACOM
at 9:39 PM on Monday, October 7th, 2019
Pretium helped define the Golden Triangle with the discovery of high grade gold at Brucejack. Drilling success at American Creek’s Treaty Creek property just north of Pretium is demonstrating the opportunity for a second chance for those that missed out on Brucejack. Aiming to become a peer through sheer force of tonnage, American Creeks JV partner Tudor Gold is returning intercepts that are close to a mile in length, with 0.589 g/t Au over 1081.5m, including an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207m that also demonstrated copper values before exceeding the length of the drill capabilities. Other holes include 0.725 g/t gold over 838.5m, 0.683g/t gold over 780m, and 0.98 g/t gold over 563m.
An equal measure of thanks should also be directed toward Ken Konklin, who made the discovery at at Brucejack, and is now Exploration Manager at Treaty Creek. He came out of retirement after putting the $3 billion Brucejack mine into place because he believes that Treaty Creek holds more potential than what’s he’s already accomplished. He has said that developing the Brucejack mine was a huge achievement but Treaty Creek is going to be his legacy: †The Goldstorm System shows no signs of weakening to the northeast and several more drill holes will be needed to find the length and depth of this huge gold system.Not only does the Goldstorm Zone remain open at depth and along strike, we are now seeing base-metal associations possibly as part of a zonation within the metal system.â€
Treaty Creek:
Part of the same Sulphurets Hydrothermal System that contains a mind boggling 188M oz gold, 1.2B oz silver and 55B lbs of copper (all categories) to date ( P&P reserves of 47M oz Au, 214M oz Ag, and 10B lbs Cu)
Same
trend – deposits occur about every 2-3 km going north with gold grades
increasing as the system extends northward – The Goldstorm zone on
Treaty Creek is the most northerly deposit to date
Huge logistical advantages by being on the right side of the mountain with direct access to power and highway
Potential open pit design requiring a fraction of the capital cost with a shorter payback period.
At the discovery stage of the mining life-cycle where biggest gains are typically made
Large deposits are found near the red “discovery line†and the Sulphurets fault
Has
already increased over 300% since spring and yet only the 2 sets of
assays have been released. Based on the geology, geophysics, extended
strike length and seemingly endless depth, it looks as though things
have just started for American Creek. A major drill program is
presently being conducted at Treaty Creek by JV partner and operator
Tudor Gold. There are now two drills working on the Goldstorm zone. The
Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and
acting as operator, with American Creek holding a 20% interest in the
project. American Creek is fully carried until such time as a Production
Notice is issued. Until such time, Tudor is required to fund all
exploration and development costs while American Creek has a “free
rideâ€.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
FULL DISCLOSURE: American Creek is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM-JC
at 10:01 AM on Monday, October 7th, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
NBUD: CSE —————————–
Another First for the Pot Industry: A Licensed Cannabis Restaurant
Cannabis edibles are a growing segment of the market and are
expected to reach $4.1 billion in 2022, combining Canadian and U.S.
sales.
In 2017, that figure was just $1 billion among the two
countries. The segment is going to be key to the industry’s long-term
growth.
By: David Jagielski
Cannabis edibles are a growing segment of the market and are expected
to reach $4.1 billion in 2022, combining Canadian and U.S. sales. In
2017, that figure was just $1 billion among the two countries. The
segment is going to be key to the industry’s long-term growth.
Restaurants haven’t been able to take advantage of that growth since
the U.S. Food and Drug Administration has still not permitted
cannabidiol (CBD) to be infused into food. While the FDA has held hearings on CBD, there’s no indication that changes are coming anytime soon.
One restaurant, however, has been able to get around that problem. Lowell Farms
opened its doors earlier this month in West Hollywood, Calf., and it’s
the first restaurant with a lounge licensed for cannabis use. Customers
will be able to eat food and consume pot at the same establishment. That
doesn’t mean the restaurant will be able to make and serve cannabis
food. Instead, cannabis edibles will be permitted only if they are
“produced by an outside source.”
One of the other restrictions the restaurant will face is not being
able to sell alcohol to diners. It’s a small price to pay to let them
consume cannabis, since pot lounges remain a rarity in the industry. Las
Vegas is among the cities looking at permitting such lounges, but that
could be years away because there’s still a lot of opposition to it.
Will a bar someday be a place to enjoy pot with friends? Image source: Getty Images.
Why lounges could be big for the industry
While marijuana has been legalized in many parts of the U.S., that
doesn’t mean it’s possible to consume it at bars or sporting events,
unlike alcohol where there are many places that users can drink in a
social setting. Allowing that could unlock another avenue of growth for
the industry.
Cannabis beverages are on the rise and expected to grow globally at a
rate of more than 15% per year from now until 2025, reaching $4.5
billion in market size by then. So there’s going to be a growing need
for places to enjoy such drinks with friends without always having to do
so at home. And that doesn’t even factor in the growth of edibles that
could be consumed at lounges, such as candy, cookies, and chocolate.
In Canada, there’s potential for Canopy Growth to test its products in one lounge
that was made legal earlier this year. In many ways, the emerging
Canadian cannabis edibles market, which is going to be legalized later
this month and where the first products will be available in December ,
could prove to be a good indicator of how successful some of these
concepts will be in the U.S. And for Canopy Growth, it could be an
important way to get closer to breakeven.
For now, Canopy Growth can be a good opportunity for investors to
take advantage of the new edibles market in Canada. Not only is the
company well-positioned for success in the beverages segment, but in a
recent interview with BNN Bloomberg, CEO Mark Zekulin said the company
was working on more than 50 different products for the edibles
market. That could lead to significant growth for Canopy Growth and get
investors excited about the stock once again.
Here’s The Marijuana Stock You’ve Been Waiting For
A little-known Canadian company just unlocked what some experts think
could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 10 states plus
Washington, D.C., have all legalized recreational marijuana over the
last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario
government and this powerhouse company…and you need to hear this story
today if you have even considered investing in pot stocks.
Posted by AGORACOM
at 2:07 PM on Thursday, October 3rd, 2019
SPONSOR: Lomiko Metals LMR:TSX-V – A Canadian exploration-stage company discovered high-grade graphite at its La Loutre Property in Quebec and is working toward a Pre-Economic Assessment (PEA) that will increase its current indicated resource of 4.1 Mt of 6.5% Cg to over 10 Mt of 10%+ Cg through a 21 hole program at the Refractory Zone. Click Here For More Information
Contrary to what is believed, monolayer graphene (a sheet of carbon
just one atomic layer thick) has 3D mechanical properties and they can
now be properly measured and meaningfully described thanks to
high-pressure Raman spectra measurements on the material. This result,
from researchers at Queen Mary University of London, might have
implications for when graphene – and indeed other 2D materials – are
employed in applications such as mechanical sensors. It also highlights
the fact that Raman spectroscopy can be used as diagnostic tool to
measure the mechanical properties of graphene when it is employed as a
reinforcement for other materials.
“Graphene is called a 2D material because its carbon atoms lie in a two-dimensional plane,†explains team member Yiwei Sun.
“However, monolayer graphene has electrons in π-orbitals above and
below this plane. If we compress a sheet of graphene in a direction
normal to the sheet, graphene is strained because the π-electrons become
compressed and strained. If the sheet is compressed in all three
directions, it undergoes 3D strain, however. This means that 3D elastic
parameters can and must be defined for this material.
“So, graphene should really be thought of as a 3D material, not 2D, as far as certain mechanical properties are concerned.â€
Complementing previous experiments
Sun and colleagues also found that the stiffness of monolayer
graphene is the same as that of graphite (which is a stack of graphene
layers).
These results complement those from previous experiments in which
researchers studied the effect of pressure in graphene supported on a
substrate such as copper. The substrate strongly affects the contraction
of graphene and thus skews the result, says Sun.
Such experiments are performed in a diamond anvil cell (DAC). Here,
the samples are loaded into a pressure-transmitting medium, such as
water, in a hole of a 50-micron-thick metal gasket sandwiched between
two diamond culets 150 microns in size. Pressures of several gigapascals
are then applied to the cell.
“What is new in our work is that we studied unsupported monolayer graphene in solutionâ€, explains Sun.
The researchers started out in the usual way – with a monolayer of
graphene on a copper substrate. They then got rid of the substrate by
etching it away in a solvent after protecting the graphene by a polymer
film (PMMA) so that it floated on the etchant and could be located. They
took the graphene with the polymer out of the etchant, placed it on a
glass slide and rinsed it with de-ionized water. Next, they loaded the
graphene with the PMMA in DMF, which dissolved the PMMA leaving the
monolayer graphene free-standing in it. “We loaded the monolayer
graphene several times so that it was concentrated enough for a decent
Raman signal,†says Sun.
The DMF prevents the graphene from crumpling and/or bonding together
to form graphite for long enough to perform the high-pressure
experiments. These involved compressing the graphene-containing liquid
in a diamond anvil cell to pressures of 12 GPa and measuring its
in-plane and out-of-plane (normal to the plane) stiffness using optical
Raman spectroscopy.
In-plane and out-of-plane stiffnesses are the same for both graphene and graphite
The researchers compared their findings to those obtained on 3D
graphite and found that both the in-plane and out-of-plane stiffnesses
are the same for both materials, within the experimental errors of their
experiment.
“Stiffness is usually defined in terms of the stress and strain (the
change of thickness) a material can endure,†explains Sun. “We find that
under pressure the thickness of graphene decreases at the same rate as
that of graphite. Hence our claim that ‘graphene is graphite’ as regards
some key mechanical properties.â€
The team, led by Colin Humphreys and David Dunstan,
also reports on a shift to higher energy frequencies of in-plane
vibrations (phonons) of the unsupported monolayer graphene to
5.4/cm/GPa, which is very close to that of graphite (4.7/cm/GPa).
The in-plane force on graphene under pressure is significantly
reduced since graphene, like graphite, is very soft out-of-plane (this
is why we can write with the “lead†in pencils, which is graphite),†Sun
tells Physics World. “This reduction is what causes the
sublinear shift of its in-plane phonon frequency with pressure. This
physically meaningful experimental observable allows us to define the
thickness and strain of graphene in terms of the thickness of its
Ï€-orbitals.â€
The technique employed in this study, which is reported in Physical Review Letters, might be used on other unsupported 2D materials in solution, he adds.
“Fiddly handiworkâ€
“High-pressure experiments like these are easy to describe, but they are notoriously difficult to perform,†writes John Procter of the University of Salford in a related Viewpointarticle. Procter’s group was the first to study the effect of strain using Raman measurements of graphene in Si/SiO2 substrates
under high pressure. “Fiddly handiwork is required to align the DAC and
sample with micrometre-precision. Because of these demands, such
experiments also have a high failure rate. Sun and colleagues’ ability
to study graphene under a known high stress – a first – is therefore a
major achievement.â€
He adds that the research could help in the development of strain
sensors based on graphene. “It may also affect how Raman spectroscopy is
used as a diagnostic tool for new types of graphene composites that
serve to reinforce other materials. Here, the spectroscopy helps
determine the extent to which stress or strain is transferred from the
host material to the graphene reinforcement. Knowing graphene’s 3D
characteristics will help researchers optimize this reinforcing
behaviour.â€
Sun and co-workers say they are now looking at how the atmosphere affects the mechanical properties of graphene and graphite. Such studies will be important for when it comes to real-world applications of these materials. “For example, a graphene-based device may perform very differently in a humid Manchester in the UK to a dry Arizona in the US,†says Sun.
Posted by AGORACOM
at 1:52 PM on Thursday, October 3rd, 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
Recession fears are once again gripping financial markets and
pushing gold prices higher as sentiment within the U.S. service sector
fell more than expected, according to the latest data from the
Institute for Supply Management (ISM).
Thursday, the ISM said its nonmanufacturing index showed a reading
of 52.6% for September, down from August’s reading of 56.4%. The data
was much weaker than expected as consensus forecasts were calling for a
reading of 55.1%.
According to reports this is the lowest reading in three years.
Readings above 50% in such diffusion indexes are seen as a sign of
economic growth, and vice-versa. The farther an indicator is above or
below 50%, the greater or smaller the rate of change.
Ahead of the report, the gold market was holding its own above
$1,500 an ounce, recovering from a 2% selloff at the start of the week.
The latest economic data has added to gold’s gains. December gold
futures last traded at $1,518.80 an ounce, up 0.72% on the day.
Economists and analysts warned that disappointing service sector
data could boost recession fears as this is the largest component of
the U.S. economy.
The nonmanufacturing data comes just two days after the ISM said
that its manufacturing index fell even further into contraction
territory, also missing economist expectations.
“The non-manufacturing sector pulled back after reflecting strong
growth in August. The respondents are mostly concerned about tariffs,
labor resources and the direction of the economy,†said Anthony Nieves,
chair of the ISM Non-Manufacturing Business Survey Committee.
Looking at the components of the report, the Business Activity Index
dropped to a reading of 55.2%, down from August’s level of 61.5%.
The labor market also lost some momentum in September, with the
Employment Index falling to 50.4%, down from August’s level of 53.1%.
This indicator is closely watched by economists as it is used as a
predictor for Friday’s nonfarm employment report.
Some economists have noted that the miss in the ISM employment data points to downside risk to Friday’s employment report.
Posted by AGORACOM
at 12:36 PM on Thursday, October 3rd, 2019
VANCOUVER, BC / ACCESSWIRE / October 3, 2019 /VERTICAL
EXPLORATION INC. (TSXV:VERT) (“Vertical” or “the Company”) and
Venturevest Realty Partners LLC (“Venturevest”) are pleased to announce
that the two companies have signed a non- binding Letter of Intent (LOI)
to enter into discussions regarding the provision by Venturevest of a
secured Note Facility up to a maximum amount of $20 million CAD to
support the multi-phased development of the St-Onge Wollastonite
Deposit.
The Note Facility would be a staged credit facility that
would provide the required financing to allow Vertical to move forward
with four distinct phases of St-Onge development, from the initial
quarry style permitting and production phase through to the mining and
final processing plant stage. Vertical views this potential Note
Facility financing as a significant development that would enable the
Company to rapidly develop and expand its St-Onge Wollastonite Deposit.
Further
details regarding the Note Facility Agreement will be provided as soon
as all terms have been negotiated between Vertical and Venturevest. The
Agreement is subject to a due diligence period that is anticipated to be
completed within the next 60 days. This transaction is subject to the
approval of the TSX Venture Exchange.
ABOUT VENTUREVEST REALTY PARTNERS LLC.
Venturevest Realty Partners LLC (“Venturevest”) is a New York corporation.
ABOUT VERTICAL EXPLORATION
Vertical
Exploration’s mission is to identify, acquire, and advance high
potential mining prospects located in North America for the benefit of
its stakeholders. The Company’s flagship St-Onge Wollastonite property
is located in the Lac-Saint-Jean area in the Province of Quebec.
Posted by AGORACOM-JC
at 12:07 PM on Thursday, October 3rd, 2019
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Canada’s legalization of pot edibles later this year is facing an even more shambolic start than the dried flower market, which is still struggling to meet demand, according to industry players.
Kristine Owram, Bloomberg News
Canada’s legalization of pot edibles later this year is facing an
even more shambolic start than the dried flower market, which is still
struggling to meet demand, according to industry players.
“At least that time we knew what the permissible product types were
going to be and were already making them in the medical context,†said
cannabis lawyer Trina Fraser, a partner at Brazeau Seller Law in Ottawa.
Canada will add edibles, extracts and topicals to the list of legal
cannabis products no later than Oct. 17. Many analysts agree these
products will generate better demand and margins than dried flower. But
the federal government has not yet issued regulations for the new
formats, making it difficult for producers to prepare lest they
unknowingly violate some rule.
A spokeswoman for Health Canada declined to comment on when the regulations will be released.
In addition, a huge licensing backlog has built up at Health Canada,
the government agency that oversees cannabis regulations. About 614
applications were waiting in the queue as of March 31.
“A full rollout amongst a nice wide array of producers and a wide
array of these new product types is going to take time, literally years,
because we have such a licensing backlog,†Fraser said.
Company Stockpiling
Canada’s market for edibles and other alternative pot produces will
eventually be worth C$2.7 billion ($2 billion) annually, but consumers
should expect “missteps, delays and frustration†in the early days,
Deloitte said in a report published Monday. Jennifer Lee, Deloitte
Canada’s cannabis national leader, estimated it will be a minimum of 24
months before the industry normalizes.
In the meantime, many pot companies are stockpiling, choosing to
forgo revenue today to ensure they have enough supply for the new
high-value products. This is exacerbating the shortage of dried flower,
but executives say it’s worth it.
“We’ve made a very conscious effort to delay revenue,†said Chuck
Rifici, chief executive officer of Auxly Cannabis Group Inc. Selling
into the market today doesn’t build brand recognition because shelves
are empty and consumers are buying whatever’s available, he added. “I
would much rather save that product, get a multiple of margin on that
brand and make sure that I have enough inventory.â€
Lab Delays
This is proving to be a boon for extraction companies like Valens
GroWorks Corp. Valens has contracts with many of the biggest pot
companies, including Canopy Growth Corp., Hexo Corp. and Tilray Inc., to
extract cannabis oil from their plants, which is then used for products
like edibles and vape cartridges. It’s also investing heavily in its
testing labs in the belief that Health Canada will have stringent
regulations to ensure pesticides and other contaminants don’t make it
into the new consumer products.
“Even in labs today there’s delays where people are waiting three
weeks to a month to get lab results back and I think that will only get
worse,†said Everett Knight, Valens’ executive vice president of
strategy and investments.
Companies are also making big bets on what products will be in
demand, with Canopy and Hexo leaning toward cannabis beverages and
others toward vaping.
Be Prepared
“Why do I want an edible or a drink when I can have a vape?†Irwin
Simon, interim CEO of Aphria Inc., said in an interview on the sidelines
of a cannabis conference last month. “I see the margins and the
opportunities there.â€
Rifici at Auxly also believes vape pens will be “the most important
category by far.†But there are many unanswered questions. For example,
will the government require companies to engrave its mandatory THC
warning symbol into the pen itself, or will a sticker suffice?
This is why Valens is offering its customers 196 different options
for its white-label vape pens. “You’ve got to make sure you cover your
bases and prepare for all the possibilities,†Knight said.
Despite the uncertainty, it’s better to be prepared even if plans and
production lines have to be tweaked once the regulations come out, said
Bruce Linton, CEO of Canopy, which is building a 197,000 square foot
bottling plant for cannabis beverages in Smiths Falls, Ontario.
“We’re in a situation where it’s better to spend money to be ready than to save money and be late,†he said.
Cannabis Canada is BNN Bloomberg’s in-depth
series exploring the stunning formation of the entirely new – and
controversial – Canadian recreational marijuana industry. Read more from
the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day.
Posted by AGORACOM-JC
at 5:16 PM on Wednesday, October 2nd, 2019
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Ripple’s Xpring Launches Crypto, Fiat Payments That Integrate Into Any App
Ripple’s Xpring is launching a platform it says makes it possible for developers to integrate fiat and cryptocurrency payments into any application
Xpring is targeting crypto and non-crypto developers alike with the platform
Ripple’s Xpring is launching a platform it says makes it possible for
developers to integrate fiat and cryptocurrency payments into any
application.
The suite of services includes an Xpring software development kit
(SDK) that allows programmers to integrate XRP apps in multiple
programming languages. It also includes a variety of new tools for
working on both XRP and Ripple’s Interledger Protocol (ILP).
Xpring is targeting crypto and non-crypto developers alike with the
platform, Xpring senior vice president Ethan Beard told CoinDesk.
“Xpring SDK allows you the developer to use the XRP ledger simply and in any programming language you want,†Beard said, adding:
“What takes a developer today a 100 lines of code to do a transaction
on XRP ledger, using Xpring SDK cuts that down by 80 percent.â€
Xpring has already been built on open-source protocols, but this
platform would function like Amazon Web Services, Beard said. Developers
could download the code and run it themselves, or now they can go to
Xpring and plug into the service.
Beard envisions the platform being used to enable micropayments in industries like media and gaming.
“Ideally, we think the Xpring platform can work for any type of payment,†Beard said.
The platform is a new vertical for Xpring, which has been an
investment arm for Ripple – building a network of companies and
use-cases around XRP for little over a year. This initiative is aimed at
investing in and growing a developer base around the cryptocurrency.
“While blockchain and cryptocurrency can be transformative for how
payments work, what we’ve learned in the last year is that working with
these new technologies is quite difficult as well,†Beard said. “That
creates a barrier for developers to adopt these technologies.â€
As a part of the announcement, Xpring is also announcing that
payments processor BitPay, mobile wallet BRD and digital custody
provider Anchorage are all adding XRP to their offerings. With BitPay on
board, the company anticipates users being able to use XRP for everyday
purchases at thousands of merchants, including Microsoft and AT&T.
Furthermore, Chainalysis is adding the XRP ledger to its blockchain analytics product.
Posted by AGORACOM-JC
at 8:29 AM on Wednesday, October 2nd, 2019
Affinity Metals controls the Regal Property, an incredible
asset in BC that has a history of Pollymetallic production & hosts several
past producing small-scale historic mines.
Most people are unaware of but are about to find about.
A complete feasibility review of the Regal Silver Mine,
including a reserve report, mine plan, processing recommendations and mill plan
was developed in 1971 to put Regal into production at $1.75 OZ Silver on a
reserve of 590,000tonnes. grading 71.6 grams per tonne silver, 2.66 per cent
lead, 1.26 per cent zinc, 1.1 per cent copper, … needs to be updated with current
43-101 so investors should not be relying on these figures until then.
Past producing mines on property may be potential indicators of a major mineralized system underneath the property.
