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Mercedes Boss Says He’s Willing to Invest in Mining
"We have fundamentally made the decision that, if a deep sourcing opportunity presents itself down to the mine, we are able and willing to allocate capital to that," Kaellenius said on Thursday during the company's annual ESG conference.
Guy Finds $160K Worth of Gold in 1 Rock
Some dude found a 4.6 kg rock, that later turned out to be over 50% gold, and contained a total of 83 ounces, or over $160K. He found it in Australia. Victoria’s “Golden Triangle” to be specific. This is very close to the place where, in 1869, two British dudes…
Lithium Miner Rejects $3.7B Bid by Albemarle
It was an unsolicited bid, and Liontown, who controls two lithium deposits in Western Australia, didn't like it. They're hoping to start production at the Norseman-Wiluna Greenstone Belt within the Archaean Yilgarn Craton of Western Australia. The project, called Kathleen Valley, is expected to produce 3Mt next year. The company…
Mining
Palladium One Gets C$4.25M From Glencore
Palladium One, a $35M PGE/copper/nickel exploration company with assets in Canada & Finland, is to issue 28.35M shares at C$0.15/share in a private placement specifically made for Glencore. After the deal, Glencore would own 9.99% of Palladium One. Palladium One…
K92 2022 Results
Annual production increased 18%. 107,546 oz gold, 6,247,950 lbs copper and 126,043 oz silver. Costs were lower than expected at $890 to $970/oz for the AISC. Average realized selling price per ounce was US$1,711. Annual revenue of $188.2M, an increase…
Cameco to Get $300M in Tax Refunds
This is for the 2007 through 2013 tax years. They'll be getting $89 million in cash and $211 million in letters of credit. The dispute is not over, though. CRA continues to hold a further $480M ($206M in cash +…
Copper Mountain 2022 Results
Full-year revenue was $301.5M, with a net loss from continuing operations at -$58.9M, or -$0.23 per share. Full-year production was 64.1M lbs of copper eq, including 52.9M lbs of copper, 21.7K oz of gold, and 247K oz of silver, at an all-in cost of…
QC Copper to Raise $1.6M
The money is being raised at $0.14/share and is expected to come exclusively from strategic institutional Quebec funds who are long-term shareholders. The proceeds will be used for the exploration and development of the Opemiska Copper Project, and for general…
New Found Gold Drills 10.1 g/t Au Over 22.5m at Keats West
The results from 11 diamond drill holes that were completed as part of a drill program designed to expand on the newly discovered Keats West zone, a low-angle thrust fault that dips gently to the south-southwest and is located on…
First Majestic Suspends Jerritt Canyon Operations
This because they're trying to cut back on costs. Jerritt Canyon was not getting the mining rates, and it was costing too much to run. It's supposed to be temporary. There is still around 45,000t of surface stockpiles that are…
Peninsula Delays Uranium Production
Peninsula Energy should already have been producing uranium, but they said this week that production is likely to start in the second half of 2023, citing supply-chain disruptions. All else looks to be on track to start producing in a…
Kazatomprom Doubles its Profit
2022 profit was $981M. Market cap is roughly $7B. Production down 4%. Sales down 1%. Inventory up 6%. Average realized price up 31% (to $42.50/lb). Cost of sales up 18%. All-in cash cost up 21% (to $16.19/lb).
Forsys Metals Update
The Norasa uranium project in Namibia got a DFS in 2015. They updated it in 2022. Now they'll be doing a "technical trade-off study" to confirm optimal grind size considering uranium recovery, costs, materials handling, and tailings handling. It should…
Nuclear
Westinghouse Steals Another Customer from Russia
In an effort to diminish the country's dependence on Russia, The Czech Republic’s state-controlled power company signed a deal with Westinghouse to supply nuclear fuel for the Dukovany nuclear plant. Deliveries are expected to start as early as next year. This further proves the bifurcation of the nuclear fuel market, and it shows that Westinghouse is the name countries run to for help, when things go south. This is a good deal for Westinghouse, as the Czech Republic is currently looking to increase nuclear power generation, and they will look West come to time to buy fuel for their new…
Canada Makes the Right Decision?
Nuclear in Canada is now eligible for the clean energy investment tax credit, and other tax incentives. The newly-introduced 15% refundable "Investment Tax Credit for Clean Electricity" (different than the previously-introduced tax credit for "Clean Technology Manufacturing") can now be applied to all sizes of nuclear power, including small modular reactors (SMRs), large builds, and even refurbishment projects. Although it is true that many more steps need to be taken to promote & support nuclear, this is one in the right direction.
Economy
- NY grand jury indicts Trump in hush money payment caseon March 30, 2023 at 9:37 pm
Trump is the first former U.S. president to be charged criminally. It comes as he seeks the 2024 GOP presidential nomination and faces other criminal probes.
- Turkey formally approves Finland's NATO membership, in setback for Russiaon March 30, 2023 at 9:13 pm
The vote follows a months-long saga that saw Turkey demand certain concessions from Finland and its neighbor Sweden.
- Pro Picks: Watch all of Thursday's big stock calls on CNBCon March 30, 2023 at 9:08 pm
A recap of Thursday's best stock picks on CNBC.
- Virgin Orbit fails to secure funding, will cease operations and lay off nearly entire workforceon March 30, 2023 at 9:08 pm
Virgin Orbit CEO Dan Hart gave employees an update in an all-hands meeting on Thursday, according to audio obtained by CNBC.
- Analysts are getting bullish on these Nasdaq stocks heading into earningson March 30, 2023 at 7:27 pm
Another earnings season is just around the corner, and Wall Street views some stocks as better positioned heading into it.
Energy
- Sam Bankman-Fried pleads not guilty to latest round of federal fraud, bribery chargeson March 30, 2023 at 5:48 pm
Sam Bankman-Fried pleaded not guilty in New York federal court Thursday to five additional charges related to the collapse of FTX and Alameda Research.
- EU agrees to ramp up 2030 renewable energy targets, accelerating shift from fossil fuelson March 30, 2023 at 8:41 am
The European Union is poised to ramp up its 2030 renewable energy targets.
- Bernstein's market-beating stock model loves 4 Club holdings. Here's where we stand on eachon March 29, 2023 at 7:42 pm
Bernstein believes four Club holdings, including Meta Platforms (META) and Pioneer Natural Resources (PXD), are among 12 best-positioned stocks right now.
- New York identifies 'disadvantaged communities' that will receive extra climate fundingon March 29, 2023 at 4:33 pm
The communities in New York City are located in northern Manhattan and the Bronx, as well as central Brooklyn and across the coastlines.
- Goldman sees a 'meaningful ramp-up' in solar ahead and gives the best ways to play iton March 29, 2023 at 2:15 pm
The firm listed six U.S.-listed stocks that could benefit from the shift to solar power.
Politics
- NY grand jury indicts Trump in hush money payment caseon March 30, 2023 at 9:44 pm
Trump is the first former U.S. president to be charged criminally. It comes as he seeks the 2024 GOP presidential nomination and faces other criminal probes.
- Biden calls for stricter banking regulations in the wake of SVB, Signature Bank failureson March 30, 2023 at 9:25 pm
Biden is calling for a range of safeguards for the banking system in the wake of the failures of Silicon Valley Bank and Signature Bank.
- Ukraine war live updates: Kyiv says nearly 500 children have died in the conflict; Russia detains WSJ reporteron March 30, 2023 at 7:40 pm
The battle for Bakhmut in eastern Ukraine continues to astound onlookers, both for the destructiveness of the fighting there and high losses on both sides.
- Senate Democrats led by Elizabeth Warren press federal bank regulators to implement stronger capital requirementson March 30, 2023 at 5:04 pm
Sen. Elizabeth Warren is leading the effort to push banking regulators to adopt Basel III bank capital standards after the Silicon Valley Bank collapse.
- Russia detains Wall Street Journal reporter, plans to hold him until late Mayon March 30, 2023 at 4:58 pm
Russian authorities claimed WSJ reporter Evan Gershkovich was conducting espionage. The newspaper vehmently denied the charge.