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September 12, 2024

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In this exclusive StockCharts TV video, Joe discusses why he is a bottom-up technical analyst. He explains the difference between top-down and bottom-up analysis and uses this to show the strongest sectors rotating to the upside right now; this approach will help give advance notice of which areas to focus on before they become obvious to the masses. He also discusses market volatility and why it is looking rather concerning. Finally, he goes through the symbol requests that came through this week, including META, TSLA, and more.

This video was originally published on September 11, 2024. Click this link to watch on StockCharts TV.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

It was a massive turnaround day in the market on Wednesday—stocks sold off after the Consumer Price Index (CPI) data was released, but, after a couple of hours, rallied back to make up the losses and continue higher. The broader stock market indexes closed higher. The Nasdaq Composite ($COMPQ), S&P 500 ($SPX), and Dow Jones Industrial Average ($INDU) had a very wide range day, with the Nasdaq ahead of the pack closing higher by 2.17%.

On Wednesday, the Tech sector was the top performer, followed by Consumer Discretionary and Communication Services. The underperforming sectors were Energy, Consumer Staples, and Financials.

FIGURE 1. WEDNESDAY, SEPT. 11, MARKETCARPET. Tech stocks made a comeback today. Are investors rotating back to mega-cap tech stocks?Image source: StockCharts.com. For educational purposes.

Financials Pull Back

Financials are losing steam after their big run. Investors were stoked about this sector since interest rate cuts were a possibility. But there has been a sell-off in financial stocks, and yesterday’s largely negative comments from JP Morgan Chase (JPM), Goldman Sachs (GS), and Ally Financial (ALLY) worsened the situation. This spilled over into Wednesday morning’s trading. The Financial Select Sector SPDR Fund (XLF) fell to a low of $43.38, but, similar to the broader market indexes, it recovered and closed at $44.28. The sentiment shift isn’t obvious in XLF, but I will watch the chart closely because buying pressure could come back.

FIGURE 2. A PULLBACK IN FINANCIALS. Negative comments from banks hurt the Financial sector, but XLF recovered after a selloff. Will it maintain its uptrend?Chart source: StockCharts.com. For educational purposes.

Technically, XLF’s chart doesn’t look terrible, but it’s not as great as it once was. XLF almost hit its 50-day simple moving average (SMA), bounced back, and closed at its 21-day EMA. It could continue to be shaky for some time.

The relative strength index (RSI) is at 51.76, but is declining. XLF could go either way here. The positive for the ETF is that interest rates will come down this year, which could boost financial stocks.

Financial stocks aside, could Wednesday’s move confirm a shift toward bullish sentiment?

The Broader Markets

The daily chart of the S&P 500 shows that the index closed above its 21-day EMA and market breadth conditions are improving. The percentage of S&P 500 stocks above their 50-day moving average is at 66.60 and the Advance-Decline Line is maintaining its uptrend.

FIGURE 3: TURNAROUND IN S&P 500. After selling off in the first few hours of the trading day, the S&P 500 recovered all its losses and continued to rise, ending with a strong finish.Chart source: StockCharts.com. For educational purposes.

The StockCharts Market Factors widget (in your Dashboard data panels) shows that large-cap growth and momentum stocks were up the most today. In yesterday’s post, I discussed the SPDR S&P 500 Growth ETF (SPYG) and would like to revisit the chart.

FIGURE 4. SPYG MADE A SIGNIFICANT UPSIDE MOVE. The ETF still has to break above the upper trendline to confirm an upside move. Momentum is picking up, and an uptrend could resume if it continues.Chart source: StockCharts.com. For educational purposes.

Wednesday’s significant upward move indicates that sentiment is shifting toward large-cap growth stocks. If the momentum continues, SPGY could break above the upper trendline. The RSI is also trending higher. Right now, the technical picture looks positive for large-cap growth stocks.

Closing Bell

This week, more macroeconomic data, including the Producer Price Index (PPI) and Michigan Consumer Sentiment, will be released. Will they move the needle in the opposite direction? That’s something to watch for in the next couple of days.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce that Ghana’s Environmental Protection Agency (“EPA”) has granted an environmental permit (“EPA permit”) in respect of the Company’s flagship Ewoyaa Lithium Project (the “Project”).

The grant of the EPA permit serves as the EPA’s approval for the Company’s proposed activities at the Project, as detailed in the Company’s Mine and Process Environment Impact Statement (“EIS”), and, therefore, represents an important landmark in the permitting process for the advancement of the Project.

The final EIS submission incorporated feedback from the EPA, both with regards to the draft EIS (submitted in May 2024) and queries raised by members of the Project’s affected communities in the two public hearings held by the EPA in two of the Project’s local affected communities (Ewoyaa and Krofu) in February and June 2024, respectively. Both public hearings were well-attended and highlighted the exceptionally strong local support for the Project.

Neil Herbert, Atlantic Lithium’s Executive Chairman, commented:

“The grant of the EPA permit marks a major step towards the construction of Ghana’s first lithium mine and follows a collaborative engagement process with the EPA and the residents of Project’s catchment area to ensure their alignment with the Company’s proposed activities at Ewoyaa.

“This approval is a testament to Atlantic Lithium’s commitment to acting as a responsible custodian of the land on which we operate, which we consider to be imperative to the long-term success of the Project. We are delighted to have full backing from the EPA and our local stakeholders. We would like to express our gratitude to the EPA for their direction throughout the permitting process, which has enabled the advancement of the Project at pace.

“We look forward to updating the market on the completion of the remaining steps ahead of us, which will see Ewoyaa achieve shovel-readiness.”

Click here for the full ASX Release

This post appeared first on investingnews.com

Exploring for gold is a costly endeavor that often comes with great risks, especially for junior mining companies.

These small-scale companies are faced with the challenge of locating a metal that is extremely rare, and even if they do find it, they need to ensure gold is present in economically viable quantities.

That’s where the use of satellite imagery and remote sensing comes in. Using satellite systems helps explorers survey land without having to invest heavily in equipment or develop on-site infrastructure.

What was the original Landsat system?

When the first Landsat satellite was launched in 1972, geologists used sensors to collect simple data, such as surface features. They were able to get clues on potential mineral deposits beneath the surface, and could use the data for mapping. However, since then, imaging sensor technology has undergone rapid advancements that have allowed explorers to collect increasingly more useful data.

The very first sensors used on satellites were problematic, mainly because of their poor spectral resolution and inadequate spectral coverage. These limitations rapidly changed in the early 1980s with the launch of Landsat 4 and 5, which carried the Thematic Mapper scanning system. The system added coverage of the short-wave infrared and mid-infrared regions of the spectrum.

The Thematic Mapper scanning system is still used as an exploration tool, but newer satellites have been launched with better spectral resolution and accuracy when determining surface mineralogy.

Satellites are now fitted with hyperspectral sensors that identify materials without having to view them in person. Spectral data is collected by aircraft and satellites using infrared, near-infrared, thermal-infrared and short-wave technology. Geologists can use this data to pick out rock units and find clues about subsurface deposits of minerals, oil and gas and groundwater.

The technology in satellite systems has advanced to the point where they can be used to identify and map not only individual mineral species, but also chemical variations within the molecular structure of the crystal lattice of the mineral.

The resolution of sensors on satellites can’t be compared to aircraft spectral remote sensors, but these satellites do come with other advantages. For example, satellite systems are able to collect more data from larger areas without having to fly any aircraft over the land of interest.

What are the benefits of satellite imagery in mineral exploration?

With the ability to determine texture and type from miles above the ground, locating, analyzing, identifying and mapping the composition of the Earth’s surface is now greatly advanced. Here are a few benefits of using satellite imagery in mineral exploration.

Lower costs and risks

Satellite imagery helps reduce the cost of surveying land due to the fact that on-site personnel and equipment aren’t needed. Explorers can instead use a number of data sources to draw valuable insights for potential projects. This is especially helpful for juniors that have to justify risks to gather financing or begin operations.

Value across the lifecycle

Geospatial data is critical to mineral exploration, but it can also be applied to all phases of the mining lifecycle. Satellite images can be used to inform activities like building mine infrastructure or anticipating risks that are linked to a site’s geography. The relatively low cost and high utility of satellite imagery makes it a versatile technology for explorers.

Data abundance

The advancement of sensor technologies has allowed companies to combine valuable satellite data with other information sources like drone mapping, feasibility studies and historical data about geographical sites.

Satellite imagery also helps gather data that otherwise wouldn’t be attainable due to challenges in topography or climate. Diversifying information sources and increasing the sheer amount of available data means miners and scientists can gather new insights through their analysis.

Satellite imagery certainly isn’t the only tool available to explorers, but it serves as an excellent complement to more accurate and resource-intensive technologies like LiDAR, GPS surveying and unmanned aerial vehicles.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

As the world continues to embrace digital currencies and blockchain technology, the cryptocurrency industry is solidifying its position on a broad scale as a key part of the global economy.

Six months in, 2024 has already been a big year for crypto, with milestones including a new all-time high for the Bitcoin price, and the approval of spot Bitcoin and Ether exchange-traded funds in the US.

Heading into the second half of the year, the US election is expected to have far-reaching implications for the crypto market in America and potentially beyond. Issues such as regulation, taxation and the integration of cryptocurrencies into the mainstream economy will be critical in shaping the future of this dynamic sector.

The stakes are high for crypto market participants who want to secure their interests in a rapidly evolving financial landscape. Perhaps unsurprisingly, this burgeoning industry has already become a major talking point in the US election cycle as crypto-friendly Congressional nominees and a favorable regulatory framework become a focus for voters.

A recent article by Coinbase examines the influence Gen Z and Millennial voters will have on this year’s election results. Voters from the two generations make up 40 percent of all eligible voters in 2024, and by 2028, they will account for more than half of the voting population. Research commissioned by Coinbase found that 51 percent of respondents from those generations would likely support candidates that support crypto-friendly policies.

As the crypto narrative continues to intertwine with the US election cycle, the choices made in the voting booth could well determine the trajectory of this transformative technology. The stage is set for a pivotal moment in the crypto industry’s history, and the decisions made in the next few months will echo far into the future of finance.

How is the crypto sector influencing the US election?

While the US election is set to impact the crypto market, the reverse is also true — the industry is already influencing lawmakers at both the federal and state levels as voting day approaches.

In December 2023, in order to gain a toehold in the political sphere, a group of three affiliated super political action committees (PACs) backed by prominent figures in the crypto sphere revealed plans to invest a substantial US$78 million with the aim of supporting crypto-friendly candidates in upcoming political campaigns.

Fairshake, one of the group’s three affiliated super PACs, has now raised upwards of US$203 million through donations from major stakeholders, including significant contributions from the Winklevoss twins and companies such as Kraken, Coinbase (NASDAQ:COIN) and Electric Capital Partners. The group reportedly spent around US$10 million on attack ads in an attempt to sway voters against Representative Katie Porter (D-CA) in the race to represent California in the Senate. Porter, who has been outspoken against corporate interests and federal lobbyists, ultimately lost the race.

In January, CNBC reported on lobbying efforts by the Cedar Innovation Foundation, whose backers are unknown. Its aim was to unseat Senate Banking Chairman Sherrod Brown (D-OH) — a crypto cynic. Brown later supported stablecoin legislation tied to a package that included cannabis banking reform, which he has called a “high priority,” but emphasized that crypto bills must have guardrails and consumer protection to secure his vote.

Since President Joe Biden announced his withdrawal from the US Presidential race on July 21, the crypto industry has been thrust into a new political landscape. Managing Editor for Global Policy and Regulation at CoinDesk Nikhilesh De reported that sources told CoinDesk that Vice President Kamala Harris taking over the campaign will serve as a reset for the Democratic stance on cryptocurrency. Twenty-eight Democrats sent a letter to Democratic National Committee Chairman Jaime Harrison on July 26, calling for a “forward-looking approach to digital assets and blockchain technology.”

How is crypto currently regulated in the US?

The regulatory landscape for the crypto industry in the US is still evolving, and further developments are expected to occur in the coming years. As it stands, various government agenciesemploy diverse strategies to regulate different aspects of the industry, reflecting their unique mandates and objectives.

The US Securities and Exchange Commission (SEC) is the primary regulator of securities in the US and, under Chairman Gary Gensler, who was appointed by President Joe Biden, it has taken the view that many cryptocurrencies constitute securities and are therefore subject to federal securities laws.

The Commodity Futures Trading Commission (CFTC) is the primary regulator of futures and options contracts in the US. It is of the opinion that certain cryptocurrencies, such as Bitcoin and Ethereum, are commodities due to their decentralized nature and the fact that they are not backed by a government or other central authority.

Both regulators have taken action against crypto exchanges for breaking laws. Most notably, the CFTC brought charges against Binance founder Changpeng Zhao for violating the Commodity Exchange Act in March 2023. Meanwhile, the SEC has been involved in litigation against numerous crypto companies for years.

Majority party split on crypto regulation

Democrats appear divided on the best approach to crypto regulation. While some have cited concerns that overregulation could stifle innovation, other representatives, like Senator Elizabeth Warren (D-MA), have advocated for more stringent policies, citing threats to national security without proper money-laundering provisions in place.

That division became evident when a resolution to overturn the SEC’s Staff Accounting Bulletin 121 (SAB-121) passed in the House in early May. The resolution, which requires firms that provide custody for crypto assets to record them as liabilities, was primarily backed by Republicans, who argued it would reduce regulatory burdens, enable crypto innovation and challenge the SEC’s evolving guidance on digital asset custody. Opponents said reversing the order would undermine the SEC’s authority, which put the measure in place to protect consumers and investors from fraud.

Despite Biden’s opposition to the resolution and his promise to veto the decision, 11 Democratic senators crossed party lines to vote in favor, including Senate Majority Leader Chuck Schumer. His vote to repeal SAB-121 may have been motivated by Republican nominee Donald Trump’s recent support of crypto-friendly policies, which has put pressure on Democrats to reconsider their positions on crypto regulation to avoid losing votes from the crypto crowd.

Biden did ultimately veto SAB-121, but the split among Democrats, as well as the SEC’s recent approval of spot Bitcoin and Ether exchange-traded funds, and the passing of three crypto-related bills, has led some analysts to suggest that the party may be easing its approach to appease pro-crypto voters and gain the support of the crypto-backed super PACs.

Key US crypto legislation to watch

With cryptocurrencies becoming more mainstream, US lawmakers have been strongly encouraged to create a clear and comprehensive regulatory framework for this rapidly evolving industry.

FIT21 Act

The Financial Innovation and Technology for the 21st Century Act (FIT21) is the first federal bill specifically focused on cryptocurrencies to pass one chamber of Congress. It provides a comprehensive and clear regulatory framework, giving the CFTC greater regulatory authority for digital assets over the SEC.

Ranking members of the Democratic Party said they would not whip Democrat votes against FIT21 despite the party’s belief that it creates uncertainty and undermines established legal precedents in its current form. FIT21 received “overwhelming bipartisan support” in the House on May 22, passing with a vote of 279 to 136.

Former House Speaker Nancy Pelosi was one of the votes in favor of FIT21. When she was speaker, she accepted donations on behalf of the House Majority PAC from ex-crypto king Sam Bankman-Fried before his arrest in 2022. Sources for the American Prospect confirmed she was considering the motion days before the vote took place.

Some lawmakers are urging Congress to hold a Senate vote for FIT21 ahead of the November election, although this has been opposed by the president and the SEC.

Responsible Financial Innovation Act

For opponents, the Responsible Financial Innovation Act offers an alternative approach. The bill was a bipartisan effort that was reintroduced by Senators Cynthia Lummis (R-WYO) and Kirsten Gillibrand (D-NY) in July 2023. It has since been referred to the Committee on Banking, Housing and Urban Affairs.

The Act is similar to FIT21; however, there are also some differences between the two bills in terms of their specific provisions and approaches. For example, FIT21 places a greater emphasis on defining key terms and providing exemptions from duplicative regulations, while the Responsible Financial Innovation Act focuses more on consumer protection and combating illicit finance, goals that align with statements made by the White House.

Digital Asset Anti-Money Laundering Act

While the Responsible Financial Innovation Act seeks to provide a comprehensive framework for regulating digital assets, the Digital Asset Anti-Money Laundering Act aims to address concerns around money laundering and illicit finance in the digital asset space. The bill has 19 sponsors, including Republicans Lindsey Graham (R-SC) and Roger Marshall (R-KS), as well as Warren, a longtime political ally to the current president.

What does Harris think about crypto?

The Democrat’s presidential nominee is Kamala Harris, who is currently serving in the Biden administration as Vice President. This section will discuss Harris’ own positions on crypto alongside those of the Biden administration.

There has been heightened government engagement with the crypto sector under the Biden administration. He has been carefully navigating the crypto industry, aiming to balance innovation and economic growth with consumer protection and regulatory oversight.

In March 2022, Biden signed an executive order outlining a strategy to assess the risks and benefits of cryptocurrencies. It focused on six key areas, including consumer protection, responsible innovation and global competitiveness. The order also addressed the lack of coordination between government agencies by promoting a more unified approach.

Building on this move, the White House released a more detailed framework for responsible digital asset development in September 2022. It expanded upon the key areas identified in the initial executive order and provided further guidance for a coordinated, government-wide approach to managing the risks and harnessing the benefits of digital assets.

It is currently not known whether a Harris administration would enact the crypto policies laid out in Biden’s 2025 budget proposal, which includes measures that prevent investors from immediately selling and repurchasing digital assets, as well as one that would require more traditional reporting methods for digital asset transactions. The budget also includes an excise tax on electricity used to mine cryptocurrencies, which is expected to generate US$10 billion in revenue in 2025 and over US$42 billion over 10 years.

As discussed earlier, the Democratic Party struggled to maintain a unified approach to cryptocurrencies under the Biden administration. Harris has yet to take an official stance on the issue, and any mention of crypto regulation was noticeably absent from the Democratic Party’s 2024 Platform.

However, crypto Dems have some reasons to be hopeful of a moderate approach. Harris has ties to the tech industry going back to her time as an Attorney General in California in the 2010s, where she was influential in facilitating an agreement on privacy policies.

In early August, Harris was also publicly backed by crypto platform Uphold board member JP Thieriot, and she has reportedly been meeting with industry officials in the weeks leading up to the August 14 online “townhall” event of crypto Democrats, Crypto4Harris, which does not have ties to the official campaign.

What does Trump think about crypto?

In response to the crypto industry’s growing influence in the political sphere, Trump also appears to have shifted toward a supportive stance in recent months. After initial skepticism, his forays into the crypto world include the launch of his second collection of Trump Cards, a non-fungible token (NFT) collection on the Polygon blockchain.

In May, Trump became the first presidential nominee to accept donations in digital currencies, and in June, he advocated on Truth Social for all future Bitcoin mining to be done in the US.

Also in May, Lee Bratcher, founder and president of the Texas Blockchain Council, shared insights with Coindesk on Trump’s interest in crypto, suggesting he may have been influenced by former Republican presidential candidate Vivek Ramaswamy, who was supportive of cryptocurrencies and blockchain technology during his brief campaign.

“Trump looks to Vivek on tech and digital asset policy,” Bratcher said. “When he saw how Vivek captured the Republican voter — and more centrist (voters) than Trump can capture — he’s probably more interested in that (policy).’

Trump appears to be driven by a desire to distinguish himself from political opponents who favor a more active regulatory approach, as well as crypto’s increasing popularity and potential.

In May, he criticized Biden, the Democratic party and Gensler at a dinner for buyers of his NFT cards, telling pro-crypto attendees that they “better vote for Trump” if they want crypto in “any form.”

While he hasn’t explicitly said how he plans to tax digital assets, Trump is a prominent proponent of lower taxes. His administration signed the Tax Cuts and Jobs Act into law in 2017, the largest tax code change made in decades. Provisions within the act are set to expire in 2025, although Trump has said he will make them permanent if he is re-elected. The Congressional Budget Office has estimated that if they become permanent, these tax cuts would deduct billions from the US revenue base annually beginning in 2027.

At a rally in New Jersey in mid-May, Trump promised voters that he would impose further tax cuts, lowering the maximum capital gains tax rate from 20 percent to 15 percent. This would affect crypto assets, as the Internal Revenue Service (IRS) treats cryptocurrencies as property, making transactions subject to capital gains and other taxes.

According to Section 1031 of the tax code, some capital gains taxes can be deferred for like-kind exchanges — in other words, investments that are of the same nature or character, even if they differ in size or value. The IRS concluded in 2021 that only “real property” can qualify for tax deference as like-kind exchanges, excluding swaps of cryptocurrency. However, some attorneys disagree with that classification.

Trump spoke at the 2024 Bitcoin Conference in Nashville on July 27, promising friendly regulations and the creation of a strategic Bitcoin stockpile for the US. A draft of legislation to support a Bitcoin reserve was introduced by Senator Cynthia Lummis (R-Wy) at the event following Trump’s speech. The draft legislation for the reserve fund briefly mentions that it would contribute to reducing the US national debt, but it lacks specific details on how this would be achieved. Trump was notably tight-lipped on the issue during a recent interview with Elon Musk.

It’s worth noting that a special-interest group called Project 2025 has developed a 900 page conservative policy agenda called the Mandate for Leadership that includes strategies to shift the power of the IRS and other agencies toward the executive branch. Additionally, the document recommends that the SEC and the CFTC collaborate to delineate the distinction between digital assets that are classified as securities and those that are considered commodities.

The group was organized by the Heritage Foundation, a conservative think tank that has influenced Republican policies in the past, including during Trump’s presidency.

How did the presidential debate affect Bitcoin?

Trump and Harris battled it out during their first debate last night, September 10 at 9:00 EDT. According to a poll conducted by CNN, 63 percent of debate watchers said that Harris outperformed Trump.

Despite crypto’s influence on the campaign trail as recently as one month ago, neither candidate was asked about cryptocurrency, and neither brought it up. Big Tech and artificial intelligence were largely not touched on as well, apart from a brief quip during heated exchanges involving the economy and foreign policy.

Bitcoin’s price fell quickly early in the debate and continued to retreat throughout it. By the time midnight had hit, Bitcoin’s value had fallen to US$56,802, down 1.46 percent from its price at the start of the debate, which coincided with the opening of day trading in Asia. Just before 11:00 am EDT, its price had fallen a further 2 percent to US$55,573, but it bounced back to nearly US$58,000 by 2:25 p.m.

Investor takeaway

Trump’s statements in recent months suggest a permissive stance toward crypto if he is elected. A Harris administration could be more open and forward-thinking than the cautious approach taken by the current Biden administration, but will likely prioritize careful decision-making.

Most crypto experts advocate for a regulated approach, arguing that increased regulatory efforts have served as an incentive for more serious investors. Indeed, this regulatory push has been a significant catalyst for crypto’s impressive performance over the past seven to eight months. Ultimately, the outcome of the election will have important implications for the future of crypto regulation and the broader crypto industry.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

With batteries being the most costly component of electric vehicles (EVs), it is clear why EV makers are looking for ways to secure supply of key metals such as lithium.

Despite a current global slump, demand for EVs is expected to continue trending upward going forward as the world moves away from fossil fuels to greener sources of energy.

For now the lithium market remains in oversupply. However, the long term demand for lithium carbonate equivalent looks set to increase to 2.5 million metric tons (MT) by 2030, up substantially from the 292,000 MT of demand recorded in 2020.

For car manufacturers from Tesla (NASDAQ:TSLA) to General Motors (NYSE:GM), the past few years have seen the race to secure a steady supply of lithium increase as price volatility and geopolitical tensions expose the vulnerabilities of the global lithium supply chain.

Current lithium producers have already committed to contracts with battery manufacturers and carmakers, but which juniors have inked deals for supply yet to come on stream? Read on to find out. All lithium stock data was current as of September 5, 2024.

1. Liontown Resources (ASX:LTR)

Company Profile

Market cap: AU$1.52 billion; share price: AU$0.62

Liontown Resources bills itself as a future Australian lithium producer, with two lithium projects in Western Australia, including its flagship Kathleen Valley project. The mine came online in July 2024, and is expected to produce approximately 500,000 MT per year of spodumene concentrate by the end of Q1 2025, with an expansion planned in year six to bring its production to 700,000 MT per year.

The last few years have been busy for Liontown. In February 2022 it inked a deal with US EV maker pioneer Tesla. The deal is for an initial five year period starting in 2024 and accounts for about one-third of Kathleen Valley’s start-up production capacity.

In June 2022, Liontown signed another five year offtake agreement with carmaker Ford (NYSE:F) for the supply of up to 150,000 dry metric tons (dmt) from the Western Australia project.

Aside from Tesla and Ford, Liontown also has an offtake agreement with South Korea’s LG Energy Solution (KRX:373220). In July 2024, Liontown and LG signed a significant extension to their existing offtake agreement for another 10 years. That same month, Liontown announced a 10 month offtake agreement with China’s Beijing Sinomine International Trade for up to 100,000 dmt of spodumene concentrate beginning in late September.

2. Vulcan Energy Resources (ASX:VUL)

Company Profile

Market cap: AU$705.71 million; share price: AU$3.75

Europe-focused Vulcan Energy Resources says its combined geothermal energy and lithium resource is the largest in the region, with license areas in Germany’s Upper Rhine Valley and in Italy. The company touts its lithium project as being a zero-carbon asset. In August 2024, Vulcan reported that it had begun commissioning of its lithium hydroxide optimization plant, CLEOP, near Frankfurt, Germany.

Netherlands-based Stellantis (NYSE:STLA), which was created from the merger of Fiat Chrysler and France’s Peugeot, bought an 8 percent stake in Vulcan in 2022, extending its initial lithium supply agreement that was signed at the end of 2021. The carmaker expanded its partnership with the lithium company in January 2023 to develop geothermal energy projects in Germany.

Starting in 2026, Vulcan is also set to deliver lithium for an initial six-year term to Renault (EPA:RNO), which is expected to purchase between 26,000 and 32,000 MT of battery-grade lithium chemicals during the binding offtake deal.

Vulcan also signed a binding offtake deal with Volkswagen (FRA:VOW) to begin in 2026 for between 34,000 and 42,000 MT of battery grade lithium hydroxide over the duration of the lithium supply deal.

Aside from signing supply deals with automakers, Vulcan has inked agreements with battery materials maker Umicore (EBR:UMI) and South Korea’s LG Energy Solutions.

3. Lithium Americas (NYSE:LAC)

Company Profile

Market cap: US$680.16 million; share price: US$3.12

Lithium Americas owns 100 percent of the Thacker Pass lithium claystone project in the US, which is projected to begin production in the second half of 2027. With a mine life of 40 years, the project will have an annual production capacity of 40,000 MT per year during Phase 1 and 80,000 MT per year in Phase 2. According to estimates from the company, the lithium extracted and processed from the project will be able to support the production of up to 1 million EVs on an annual basis.

In addition to Thacker Pass, Lithium Americas is developing the Caucharí-Olaroz project in Jujuy, Argentina, together with Chinese top lithium producer Ganfeng Lithium (OTC Pink:GNENF,HKEX:SZSE:002460). Lithium Americas also owns the Pastos Grandes lithium brine project in Salta, Argentina.

Lithium Americas inked a massive lithium supply deal with General Motors at the end of January 2023 to develop the Thacker Pass mine in Nevada. GM’s US$650 million equity investment in Lithium Americas is the largest investment by an automaker to produce battery raw materials.

4. Ioneer (ASX:INR)

Press ReleasesCompany Profile

Market cap: AU$328.34 million; share price: AU$0.14

Ioneer wholly owns the Rhyolite Ridge lithium-boron project in Nevada, US — according to the company, the asset is the only known lithium-boron deposit in North America, and one of only two such known deposits in the world. Rhyolite Ridge is projected to have an annual capacity of 20,600 MT of lithium carbonate and nearly 174,400 MT of boric acid. The company expects the project will be fully permitted by the end of 2024.

In January 2023, the company received a US$700 million loan from the US Energy Department to build its mining project in Nevada. Rhyolite Ridge is estimated to produce enough lithium to build 370,000 EVs each year.

Ioneer has a binding offtake agreement with Ford to supply 7,000 MT of lithium carbonate annually for five years to BlueOvalSK, the carmaker’s battery joint venture with SK Innovation, which will begin by the end of 2025.

The junior lithium company has also inked a deal with Prime Planet Energy & Solutions, a joint venture between Toyota (OTC Pink:TOYOF,TSE:7203) and Panasonic (OTC Pink:PCRFF,TSE:6752), for the supply of 4,000 MT of lithium carbonate per year for five years.

Korean battery materials manufacturer EcoPro expanded its partnership with Ioneer in October 2023 under an R&D MoU targeting the lithium clay resource found at Rhyolite Ridge. In addition, EcoPro will fund and build a commercial-scale refining plant.

5. Piedmont Lithium (ASX:PLL)

Company Profile

Market cap: AU$206.82 million; share price: AU$0.12

ASX-listed Piedmont Lithium is another lithium miner that has a supply deal with Tesla. The lithium company is supplying the US automaker with spodumene concentrate from the North American Lithium operation, which Piedmont and its joint venture partner Sayona Mining (ASX:SYA) brought back online in 2023 through their 25/75 joint venture.

Piedmont will deliver approximately 125,000 MT of spodumene concentrate from its portion of production to Tesla from the second half of 2023 through to the end of 2025. Tesla has the option to extend the arrangement for another three years.

North American Lithium, which is located in Quebéc, Canada, is not the only project Piedmont Lithium is developing in North America. With a goal of becoming one of the largest lithium hydroxide producers in the region, the company is also working to develop its Carolina Lithium project, receiving a mining permit in April 2024. In Ghana, it has a partnership with Atlantic Lithium (ASX:A11,LSE:ALL), which is developing the Ewoyaa lithium project.

6. Rock Tech Lithium (TSXV:RCK)

Press ReleasesCompany Profile

Market cap: C$118.46 million; share price: C$1.17

Rock Tech Lithium’s approach includes the production of sustainably sourced spodumene feedstock from its Ontario-based Georgia Lake project, as well as the construction of lithium hydroxide converters in Europe. In May 2024, Rock Tech received construction and operations permits for its Guben refinery, which has a planned annual capacity of 24,000 MT of lithium hydroxide monohydrate. This was the final approval needed for the refinery.

In the years to come, the company expects to source raw material from recycling discarded batteries, pledging to have 50 percent of its feedstock at its German convertors come from recycled lithium by 2030.

In October 2022, the company signed a lithium supply deal with German carmaker Mercedes-Benz (OTC Pink:MBGAF,ETR:MBG). The deal is set to start in 2026 and would see Rock Tech supply an average of 10,000 MT of battery-grade lithium hydroxide per year over a five-year term.

7. Anson Resources (ASX:ASN)

Company Profile

Market cap: C$116.61 million; share price: C$0.095

Anson Resources has two key properties under development in Utah’s resource-rich Paradox Basin: the Paradox and Green River lithium projects, both within 50 kilometers of each other. Paradox has the potential to become a significant lithium-producing operation. The project hosts a mineral resource estimate of 1.04 million MT of lithium carbonate equivalent and 5.27 million MT of bromine. Anson Resources is also conducting a major resource expansion program at Paradox.

In August 2024, the company produced its first battery-grade lithium carbonate from brines at Paradox. The company can now provide product samples to potential off-take partners.

Earlier in the year, Anson announced it had secured a binding offtake agreement with LG to supply battery grade carbonate from Paradox. Under the deal, the tech giant would purchase 4,000 dry metric tons per year of battery-grade lithium carbonate over five years beginning in 2027, and it has the ability to extend the contract for another five years.

8. European Lithium (ASX:EUR)

Press ReleasesCompany Profile

Market cap: AU$53.13 million; share price: AU$0.038

European Lithium’s fully licensed Wolfsberg hard-rock lithium deposit in Austria is expected to start production in Q1 2025. According to a March 2023 definitive feasibility study, the asset would have an average production rate of 780,000 MT per year, peaking at 840,000 MT, over a 14.6 year life of mine. The ASX-listed company is aiming for the operation to be the first and largest local supplier of lithium hydroxide in the region.

In February 2024, its subsidiary European Lithium AT merged with Sizzle Acquisition, a special purpose acquisition company, to create US-listed company Critical Metals (NASDAQ:CRML). Wolfsberg is the flagship project of Critical Metals, and European Lithium is the largest shareholder in this new firm at 85 percent.

European Lithium also holds a supply agreement with BMW (OTC Pink:BMWYY,ETR:BMW). In keeping with the deal, the German carmaker made an upfront payment of US$15 million in June 2024 for future supply of lithium hydroxide from Wolfsberg.

9. Greenwing Resources (ASX:GW1)

Company Profile

Market cap: AU$12.69 million; share price: AU$0.053

Australia-based Greenwing Resources is a critical minerals explorer and developer that has lithium and graphite projects spread across Madagascar and Argentina.

In September 2022, the lithium junior struck a deal with Chinese electric carmaker NIO (NYSE:NIO,HKEX:9866), which agreed to pay AU$12 million to become Greenwing’s largest shareholder. The strategic investment is expected to help with the development of Greenwing’s San Jorge lithium project in Catamarca province, Argentina, and aligns NIO as the company’s potential joint venture and offtake partner.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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Stefan Gleason, CEO of Money Metals Exchange, shared his thoughts on gold and silver, including what factors are driving the metals right now and how investors can get the best value when making physical purchases.

‘Other than looking at gold bars, people would be well served by shifting more to silver in the current environment. And same thing there — silver bars, silver rounds, silver coins if they’re bullion coins,’ he said.

When asked who is buying gold right now, Gleason said demand is coming from Asia and central banks.

‘Really in the last year the major driver of the gold price has not been retail demand or even exchange-traded fund demand in the west — Europe, North America and so forth — it’s been the east,’ he said.

Even so, Gleason noted that overall there’s been an explosion in US demand since the COVID-19 pandemic, and looking forward to the future he sees physical gold buying picking up as more investors add it to their portfolios.

‘I’m very bullish about the future of retail demand,’ he said, adding that the it would only take one major event to kick off a buying trend. ‘And as I said, it is way better, way more than it was five years ago.’

Watch the interview above for more of his thoughts on gold and silver, as well as Money Metals’ new Idaho-based precious metals depository, which is twice the size of Fort Knox.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Former Peruvian President Alberto Fujimori has died at the age of 86 after a long battle with cancer, his daughter Keiko Fujimori said Wednesday night.

“After a long battle with cancer, our father, Alberto Fujimori, has just departed to meet the Lord. We ask those who loved him to accompany us with a prayer for the eternal rest of his soul,” Keiko Fujimori wrote on X.

Fujimori, who ruled Peru from 1990 to 2000, had been fighting for his health, his primary care physician Alejandro Aguinaga said earlier on Wednesday in brief statements to reporters outside the home of Keiko Fujimori.

Fujimori had previously revealed he had been diagnosed with a new malignant tumor in May.

A controversial figure in his country, Fujimori’s tenure in office brought the country back from the brink of economic collapse but was also plagued by allegations of human rights violations and corruption, which he was later convicted of decades later.

From political outsider to strongman

The son of Japanese immigrants, Fujimori studied at an agricultural university in the Peruvian capital of Lima before traveling overseas for his graduate education in the US and France.

Once back in Peru, he hosted a television show focused on environmental issues before launching a presidential bid in 1989 as the leader of a new party – Cambio 90 (“Change 90”) – eventually defeating future Nobel literature prize-winning author Mario Vargas Llosa.

Fujimori inherited a country in economic crisis. Soon after taking office, he implemented austere economic policies known as “the Fujishock,” which reined in hyperinflation.

He also claimed victory over the Shining Path rebel movement, one of the oldest guerrilla groups in Latin America, after his government captured the group’s leader, Abimael Guzman, who was responsible for tens of thousands of deaths. Years later, his handling of a months-long hostage siege by another rebel group at the Japanese ambassador’s residence garnered him international praise.

For some Peruvians, Fujimori’s domestic victories transformed him from a political outsider to the strongman the country needed. But the former president had an authoritarian streak, using security forces to repress opponents. Soon, abuse of power and corruption allegations emerged and cast a dark shadow over his national achievements.

In the early 90s, Fujimori’s then-wife, Susana Higuchi, publicly denounced him as corrupt and claimed his family had illegally sold clothing donated to Japan. After the pair divorced, Fujimori installed the couple’s eldest daughter Keiko as Peru’s first lady ahead of his second term.

In 2000, Fujimori stood for an unprecedented third term in office despite questions about the constitutionality of running yet again. He won, prompting his main opposition candidate to claim election fraud.

But his government crumbled spectacularly later that year, after videos of Vladimiro Montesinos – his powerful intelligence chief for over a decade – were leaked, showing Montesinos bribing an opposition congressman. The scandal quickly snowballed as numerous incriminating videos emerged.

Fujimori denied any wrongdoing, but his standing with the public began to shift. Many Peruvians were left unconvinced and insisted he must have been aware of his top aide’s abuse of power and embezzlement.

That November, during a trip to Japan, Fujimori tried to quit the Peruvian presidency by sending a fax home announcing his resignation. The move threw the country’s political landscape into chaos. Days later, Peru’s congress instead fired him and labeled him “morally unfit” to govern.

He remained in Japan for a number of years, defiant that he would one day return to the upper echelons of Peruvian politics. In the mid-2000s, he traveled to Chile while preparing to stage a political comeback but was promptly arrested and eventually extradited back to Peru to face human rights abuse charges, among other alleged violations.

Fujimori has been in and out of prison over the last few years as a result of his declining health, after being convicted in four different criminal trials.

In 2009, a special supreme court tribunal sentenced him to 25 years in prison for authorizing the operation of a death squad responsible for killing civilians.

In separate trials, the former president was also found guilty of breaking into Montesinos’ home to steal incriminating videos, taking money from the government treasury to pay the spy chief and authorizing illegal wiretaps and bribing lawmakers and journalists.

He received a medical pardon for his human rights abuses in December 2017 from then-Peruvian President Pedro Pablo Kuczynski. Kuczynski’s office issued a statement at the time, saying Fujimori “suffers from a progressive, degenerative and incurable disease,” adding “prison conditions mean a serious risk to his life, health and integrity.”

“I am aware that what resulted during my administration, on one hand, was well-received but I recognize that on the other hand, I have also disappointed other compatriots. To them, I ask forgiveness from the bottom of my heart,” Fujimori had said in a video filmed from his hospital bed and posted to Twitter in 2017.

But the pardon sparked violent protests in the capital of Lima and attracted widespread criticism from human rights organizations and lawmakers.

It was ultimately overturned and in January 2019 he was returned to prison. Separately in 2018, a Peruvian court ruled he could face trial for allegedly authorizing the 1992 kidnappings, torture and killings of six people in the central Peruvian town of Pativilca, according to state-run news agency Andina.

Even with multiple criminal convictions Fujimori always held his ground, arguing that any actions he took were for the good of the country. He maintained that position until the very end.

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Olga is running around the intensive care unit, constantly checking her patients’ oxygen levels, adjusting their medication and noting their vitals. She’s working fast, but even at her busiest, the nurse anesthetist doesn’t hesitate to pause to adjust a pillow or blanket, and make sure the injured soldiers in her care are as comfortable as possible amid the constant rocking and rumbling.

A sergeant in the Ukrainian military, she is attending to some of its sickest patients. It’s a busy job – and she is doing it on a speeding train.

Most cities in eastern Ukraine are struggling to find enough hospital beds to accommodate the almost constant stream of casualties from the frontlines. But freeing up space requires that even the sickest patients, many of them unconscious, are transferred to far-flung places, often hundreds of miles away.

Long ambulance journeys are too risky for people in a critical condition, and flying a helicopter is too dangerous given Russia’s air superiority over Ukrainian skies.

The train is a lifesaver.

He explained that his field – combat medicine – mostly involves stabilizing and evacuating patients to safety, rather than carrying out treatment. His work on the train is just one part of a medical chain that starts the moment a soldier is wounded.

“The most difficult part is evacuation from the frontline,” he said. “Combat medics who work on the front are dying just like soldiers.”

Running an ICU unit on a moving train is a herculean task that involves dozens of people and presents a unique set of challenges.

Oleksandr said the vast majority of his patients, some 90%, have suffered multiple shrapnel injuries. Many have had amputations, and several are intubated, alive thanks to ventilators and other life-support machines. All have numbers written on their hands showing which car of the long evacuation train they need to travel on.

“We are very limited in our capabilities here… If something happens, I cannot call an outside consultant,” he said.

“There may be minor operations, to stop bleeding. We cannot perform abdominal… and chest surgeries. We have to be very careful when selecting the patients,” he added.

Yevgeniy was severely wounded in a drone attack just two days before he was selected for evacuation on the ICU unit of the train.

Ukraine’s most important train

The railway hospital is an example of the kind of Ukrainian ingenuity that impressed the world in the early months of this conflict.

To limit rocking, the vehicle travels at about 80 kilometers (50 miles) per hour, which is about half the speed of a regular train. It also has priority over everyone else – including any special VIP trains carrying foreign dignitaries.

Even so, the ICU unit is constantly shaking. Every piece of equipment, every bed and every beeping machine needs to be anchored to the floor and the staff must take extra care when working on the patients.

Ambulance trains were first used during the Crimean War in the 1850s, but they have come a long way since then. The modern Ukrainian versions come equipped with ventilators, life support machines, ultrasound scanners and portable air conditioners that help maintain stable temperatures even on the hottest days.

Each carriage is a self-sustained unit powered by generators – an important safety feature given the frequent Russian attacks on Ukraine’s energy infrastructure, Pertsovskyi said.

But it is the little touches that make these trains truly special.

Children’s drawings and Ukrainian flags are on display in every car, offering some comfort to the bruised and battered passengers. The blind brackets on every window are shaped as a trident, the country’s national symbol, placed deliberately in the eyeline of soldiers lying in their beds.

A tale of two deployments

The train provides a small window into the brutal cost of war. Experienced warriors and new recruits are traveling together, united by injury and pain.

“They dropped a grenade. I was stunned. I have shrapnel in my hands, on my shoulders and on my back,” he said, adding that the blast wave damaged his hearing.

An electrician and a father of two, the 35-year-old was mobilized 18 months ago and was serving as an anti-tank gunner in an infantry battalion in the Donetsk region. In all that time, he has spent just 45 days away from the frontlines.

“Morale is high, but people are very tired,” he said with a blank stare, as the train kept chugging along.

“At this point you realize that everything depends not on you, but on God. Or on luck. When the bombs fall, there is not much you can do about it.”

It was a sobering assessment from a man with the callsign “Positive.”

Ukraine’s President Volodymyr Zelensky has long admitted that the military is struggling to replenish its ranks, leaving exhausted soldiers without a chance to rest.

At a news conference last month, Zelensky said this effort to recruit more soldiers was gathering steam. “Some rotations have started. I can’t call it fundamental rotations yet, to be honest. But it’s a start, and that’s very important,” he said.

Sitting just a few beds away from Oleksandr was Stanislav, who enlisted voluntarily just three months ago. He was also wounded by a drone that dropped into his trench, leaving him with a punctured lung, broken ribs and other injuries.

Wearing a sports jersey and shorts, he was adamant Ukraine would win the war, despite being outnumbered and outgunned by Russia.

“They use quantity, and we use quality,” he said.

The incredible price of war

Nearly nine hours into its journey, the hospital train finally pulled into a railway station in one of Ukraine’s cities. In the darkness of the night, a long line of ambulances was awaiting the patients. The train’s voyage was over, but their road to recovery was only starting. Some will likely never fully recover.

Olga, the ICU nurse, was getting ready to hand her patients over to the medics on the platform. Her job was done for the day.

She joined the military as a civilian nurse in 2015, a year after the conflict between Russian-backed separatists and Ukraine started in the eastern parts of the country, and Crimea was illegally annexed by the Kremlin. She enlisted in the military in 2016 and – except for a short break in 2022 – has served ever since.

“But we have the opportunity to provide much-needed help to our defenders 24/7, and that’s the best part.”

When the ambulances departed and the train left the station, Pertsovskyi, the railway chief, was finally able to breathe a sigh of relief. The medical train is thought to be a major target for Moscow and there have recently been several strikes targeting the vicinity of railway stations and other infrastructure.

Standing on the platform, just hours after he saw a train full of new recruits headed in the opposite direction, he reflected on the brutality of the conflict.

“In the morning, I see these kids who are saying goodbye to their dads who are heading towards the frontlines,” he said. “So, seeing those same guys coming back… unconscious or with amputations, it feels like the price of the war is incredible. It’s a conveyor belt.”

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Nearly 200 people have died in Vietnam in the aftermath of Typhoon Yagi and more than 125 are missing as flash floods and landslides take their toll, state media reported Thursday.

Vietnam’s VNExpress newspaper reported that 197 people have died and 128 are still missing, while more than 800 have been injured.

The death toll spiked earlier in the week as a flash flood swept away the entire hamlet of Lang Nu in northern Vietnam’s Lao Cai province Tuesday. Hundreds of rescue personnel worked tirelessly Wednesday to search for survivors, but as of Thursday morning 53 villagers remained missing, VNExpress reported, while seven more bodies were found, bringing the death toll there to 42.

Yagi was the strongest typhoon to hit the Southeast Asian country in decades. It made landfall Saturday with winds of up to 149 kph (92 mph). Despite weakening on Sunday, downpours continued and rivers remain dangerously high.

The heavy rains also damaged factories in export-focused northern Vietnam’s industrial hubs.

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