Free Digital Markets
Archive

September 16, 2024

Browsing
Stock

Can We Trust Last Week’s BIG Rally?

By

That’s a great question, because we saw some very nice gains and we’re now approaching all-time highs, especially on the Dow Jones ($INDU) and S&P 500 ($SPX). The more growth-oriented NASDAQ 100 ($NDX) has much more work to do. How much more strength is required to generate those breakouts? Well, let’s go to the charts:

Dow Jones:

S&P 500:

NASDAQ 100:

The Dow Jones and S&P 500 are clearly the better relative performers as they’re both within 1% of all-time highs that were recently recorded. The NASDAQ 100? Not so much. Not only is the NDX well off its all-time closing high, I can see a clear short-term downtrend line that needs to be broken before we can even consider a move to test all-time highs.

The RSIs on the Dow, SPX, and NDX are currently 60, 58, and 55, respectively. 60 tends to be resistance in short-term downtrends. So we’re at very key technical levels in terms of both price and technical indicators. But it’s not just these challenges that must be overcome. There are major seasonal hurdles directly in front of us as we get set to receive our first interest rate cut in what Fed Chief Powell said was a changing Fed policy (from hawkish to dovish).

The major seasonal challenges were discussed in my Weekly Market Recap on YouTube this weekend. Market “hurricane season” is active in the second half of September. To see just how bad the market has performed during this upcoming period, check out my latest video, “Major Challenge Ahead For S&P 500 In Late September.” Please help us build our YouTube community by hitting that “Like” button and “Subscribe” to our channel to get our latest YouTube videos timely.

Happy trading!

Tom

Keep Reading
By
Investing

Jindalee Secures Strategic Agreement with US Department of Energy

By

Jindalee Lithium Limited (Jindalee, the Company) is pleased to announce that its wholly owned US subsidiary HiTech Minerals, Inc., has executed a strategic Cooperative Research and Development Agreement (CRADA) with Ames National Laboratory2, which leads the DOE’s Critical Materials Innovation (CMI) Hub 3,4.

Jindalee subsidiary HiTech Minerals, Inc., has been approved by the US Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy for a Cooperative Research and Development Agreement partnership.The partnership will be conducted with the DOE’s Ames National Laboratory, lead of the Critical Materials Innovation Hub.The Agreement aims to develop cutting-edge extraction methods for Jindalee’s 100%- owned McDermitt Lithium Project, the largest lithium resource in the US1 This partnership indicates significant Federal and State support for McDermitt, emphasising the Project’s strategic importance to the US.

The CRADA will focus on comprehensive research to characterise lithium and other critical minerals as well as testing, with the aim of developing innovative and commercially viable extraction methods in the McDermitt Caldera, which hosts Jindalee’s McDermitt Lithium Project, currently the largest lithium resource in the US containing 21.5Mt of Lithium Carbonate Equivalent1. The research will be led by CMI with other key team members including the Oregon Department of Geology and Mineral Industries (DOGAMI), Oregon State University, University of Nevada Reno, Lawrence Berkeley National Laboratory and the National Energy Technology Laboratory.

The research team will test innovative metallurgical extraction methods aimed at reducing costs, optimising sustainability, minimising environmental impact and exploring the potential of co-products. Key objectives include lowering water usage, reducing acid consumption and minimising the need for tailings impoundments. The DOE will provide funding for work undertaken by CMI under the CRADA and Jindalee will contribute technical engagement, sample material and data as in-kind cost share. Work completed under the CRADA will be completed within two years, with a final report outlining key developments to be released. Internal team deliverables progress quarterly and include tasks to: thoroughly characterise clay mineralogy hosting the lithium and potentially other critical elements, test the mineralogical suite to develop novel extraction methods, develop co-product hypothetical flowsheets, and improve the proposed baseline lithium extraction process as defined within the upcoming Preliminary Feasibility Study( PFS).

The CRADA has received strong support from Senator Ron Wyden (D-OR). As a senior member and former chairman of the Senate Energy and Natural Resources Committee, Senator Wyden pushes for a national energy policy that focuses on renewable energy production, low-cost energy storage, and a tax code that promotes low carbon energy technologies, and in 2022 under the Inflation Reduction Act, the Senate passed Wyden’s Clean Energy for America Act – legislation designed to incentivise investment in clean energy, lower energy costs, and create good-paying clean energy jobs on American soil.

Senator Wyden commented“Mining for the metals that are key to a clean energy future must be done in the most sustainable way possible. I’m glad this agreement has been achieved for Oregon State University and other partners to perform a rigorous analysis of environmental impacts, costs and potential additional options.”

Jindalee’s CEO Ian Rodger commented“This CRADA represents a major step forward for Jindalee and our McDermitt Project and we thank Senator Wyden and other advocates for their support. The collaboration with the Department of Energy, leading research institutions and DOGAMI (being the Oregon State permitting agency) is an exciting endorsement of our Project’s immense potential and strategic importance to the US. By combining our respective technical expertise with the DOE’s resources, we’re poised to develop efficient and sustainable extraction methods that have the potential to build upon the significant work Jindalee has already completed as part of our PFS, which is due later this year.”

Click here for the full ASX Release

This post appeared first on investingnews.com

Keep Reading
By
Investing

TNC Delivers First Oxide Ore at Wallace North, Cloncurry Copper Project

By

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to announce it is progressing mining activities at the Wallace North deposit, part of its Cloncurry Copper Project (CCP) in Queensland1, on schedule.

HIGHLIGHTS

Mining activities at TNC’s Wallace North deposit, part of its Cloncurry Copper Project (CCP) in Queensland, continue to successfully ramp up in line with the current CCP mine plan.TNC remains on track to become Australia’s next copper producer and critical metals supplier in Q1 2025 via its restart of CCP.Circa 155k BCM (Bank Cubic Metres) of overburden has been mined to date with approximately 6,000t of oxide ore mined and placed on the Wallace North RoM.Oxide ore is now being transported to the Great Australia Mine (GAM) crusher with stacking on the leach pad to commence October 2024.CCP is estimated to generate free cash flow of ~$200 million at current copper spot prices over its initial 4.6-year mine life.TNC is focussed on growing its workforce to support its objectives at CCP including the recruitment of a substantial number of personnel by mid-October for the GAM and Wallace North.

TNC last week commenced transportation of first oxide ore from the Wallace North pit to the Great Australia Mine (GAM) crushing facility. Irrigation of the ore will commence October 2024 and contribute to improved copper production from the Solvent Extraction (SX) plant. This will be the first ore mined by TNC that will be added to the heap leach since commissioning the SX plant in 2023.

In July, TNC announced the commencement of mining activities at Wallace North, one of four open-pit deposits making up CCP. Wallace North has an Ore Reserve totalling 0.7Mt (Probable) grading 1.01% Cu and 0.46g/t Au for 6.8kt Cu and 10.0koz Au2.

TNC has binding offtake and toll milling agreements with global commodity trader Glencore International AG for 100% of copper concentrate produced at CCP and toll milling of up to 1Mt of ore per year3. Under the toll milling agreement, sulphide ore will be transported to a third-party concentrator for toll treatment.

COMMENT

True North Copper’s Managing Director, Bevan Jones said:

“Our team at Wallace North has continued to advance mining activities on schedule with the current CCP mine plan. TNC’s progress towards becoming Australia’s next copper producer has taken significant steps forward since our previous Wallace North update, with 6,000t of oxide ore having now been mined and transportation of this ore to the GAM crusher underway. We expect to commence stacking of this ore on the leach pad in October, the next milestone in this process that we are now targeting. This is the first new copper ore mined and added to the heaps by TNC.

In parallel, TNC is focussed on growing our workforce to deliver on these objectives at CCP. The recruitment process continues for the GAM and Wallace North, with a substantial number of positions to be filled by mid-October.

‘This progress on both fronts strengthens TNC’s position not only as an emerging copper and critical metals company, but also as a North Queensland-based company focused on providing opportunities within the communities in which it operates. As mining activities progress further at CCP, we look forward to continuing to provide regular updates.”

Wallace North Mining Update

Since TNC announced the commencement of mining activities at Wallace North4 (refer ASX Announcement dated 1 July 2024), the Company has mined circa 155k BCM of overburden and is on schedule with the current CCP mine plan. Along with the 155k BCM, approximately 6,000t of oxide ore has been mined and placed on the Wallace North RoM to date.

Since exposing the oxide ore in the Wallace North open cut pit, the Company has been stockpiling ore on the Wallace North RoM for road haulage to commence. TNC has now commenced transportation of the oxide ore by road train to the COH’s heap leach. Sulphide ore will then be transported to a nearby concentrator for toll treatment under TNC’s toll-milling agreement with Glencore. Transitional and Sulphide ores are anticipated to be mined and stockpiled in the December quarter.

The COH is 2km from the town of Cloncurry in northern Queensland and will service all four of TNC’s deposits with essential infrastructure, technical systems and support. An active oxide heap leach and solvent extraction (SX) processing plant, mine buildings, site administration facilities, workshops, open pit mine facilities, onsite explosive magazines, site storage, water management systems and existing site power supply are located at the COH.

Click here for the full ASX Release

This post appeared first on investingnews.com

Keep Reading
By
Investing

Awalé Hits Multiple High-Grade Intercepts, including 3.3 g/t Gold Eq. over 35 Metres at the BBM Zone, Odienné Project

By

HIGHLIGHTS

35m @ 3.3 g/t gold equivalent (Au Eq.) and 17m @ 2.4 g/t Au Eq. in OEDD-8952m @ 2.0 g/t Au Eq. in OEDD-9032m @ 2.1 g/t Au Eq. in OEDD-92BBM’s strike length expanded from around 400 to over 600 metres, with mineralization defined from surface to 250 metres depth with true widths of up to 50 metres.Assay results are pending for 6 more holes from this drill program, from both BBM and Charger.Awalé will start a new 8,000-metre drill program, fully-funded by Newmont, in Q4/2024.

Awalé Resources Limited. (TSXV: ARIC) (‘Awalé’ or the ‘Company’) is pleased to announce partial results of a follow-up drilling program from the BBM Zone at the Odienné Project in Côte d’Ivoire.

‘The high-grade core of BBM has now expanded to over 600 metres, with mineralization remaining open in multiple directions and showing signs of increasing grade at depth. BBM remains open, with a style of mineralization that allows for relatively straightforward growth and delineation of an open pit resource. These results emphasize this discovery’s potential scale and significance, and we are eager to expand BBM further as we continue to define this target with additional drilling beginning shortly,’ commented Andrew Chubb, CEO of Awalé Resources.

About BBM Zone

BBM is a grassroots discovery by Awalé (see January 11, 2024 new release), whose gold and copper mineralization and alteration system are controlled by a shear zone that follows an intrusive/sedimentary contact. Drilling completed at BBM covers approximately 2 kilometres of strike along an 8 kilometre long geochemical gold in termitaria geochemical trend this shear zone (link to Figure 1 and link to Figure 2). Awalé followed-up on its January 2024 BBM discovery with intersections announced in March 2024 (see March 18, 2024 news release).

All 24 holes, totalling over 6,808 metres, at BBM have intercepted mineralization (link to Figure 3 long section) and were drilled in three (3) phases, with pending results for two holes (OEDD-97 and OEDD-98). Drilling was completed on 13 sections with an average spacing of 100 metres between sections and up to 500 metres step-outs to the SE (link to Figure 4). Interpretation of the drilling completed suggests that mineralization at BBM is steeply dipping (70 to 80 degrees) with a gentle plunge (45-55 degrees) toward the northwest.

Figures 1 and 2: Combined for the BBM Target (see links below for high resolution) – Plan View , left is simplified Geology showing the 8km the open geochemical anomaly to the NW and SE, and right showing location of the BBM drilling withing this target trend.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/222600_d650db36842ae83c_002full.jpg

Alteration at BBM is dominated by silica and biotite with pyrite, chalcopyrite, and molybdenite as the main sulphide species. Recent drilling has shown the presence of footwall mineralization beyond the footwall contact with metasediments to the north side of the structure, where fingers of granodiorite intrude the footwall metasediments. Drilling has also confirmed grade continuity of the mineralization as well as tested for new parallel shoots along the 8km of open strike. The follow-up drilling reported in this release has outlined a core zone of robust high-grade mineralization over 600m and a vertical depth of 250m. The two deeper holes with results pending have also intercepted target geology and alteration with sulphide mineralization.

Extending the higher grade core to over 600 metres demonstrates the robust nature of the mineralization and represents a substantial increase in the BBM Zone’s definition and potential. Further exploration drilling is expected to enhance the understanding of the target in this promising new region of Côte d’Ivoire. After the wet season, the Company plans to advance the BBM target with an 8,000-metre aircore drill program targeting extensions and satellites and RC drilling in shallower areas within the discovery zone.

The program which consisted of 3,627 metres drilled across 10 diamond holes and 2 diamond tails, (hole extensions from previous drilling, targeting footwall mineralization), has significantly extended the known high-grade core of the zone to over 600 metres. It also confirmed the potential for further expansion along strike and down dip/plunge, as well as within the footwall of the main zone. These results indicate increasing grades at depth, and confirm that mineralization remains open along strike and down plunge within the 1.3-kilometre zone. Results are pending for diamond drill holes OEDD-97 and OEDD-98, the two deepest holes for the program, which have traversed target mineralization from approximately 440m downhole in OEDD-97 and 430 metres downhole in OEDD-98.

A full table of significant intercepts for the program is provided in Table 1 below, along with drill collar locations in Table 2.

LINK TO BBM’s OEDD-89 Drill Core Photos

LINK TO ALL FIGURES

Table 1: Significant Intercepts

Hole From
(m) to
(m)Width
(m)Au
g/t)Cu
(%)Ag
(g/t)Mo
(ppm)Au
Eq.Au
gm AuEq
gmComposite
Trigger g/tOEDD0073147173260.60.160.51310.915230.2including15015220.90.140.6141.1220.5including160173130.80.240.82301.311170.5OEDD0089318353352.20.481.95673.3771140.5Including31932562.30.271.010713.514212Including330353232.50.602.33653.659831and 377394171.80.300.91952.431410.5Including38439063.10.551.63534.119252OEDD0090181233521.50.210.92342.0801040.2Including212231192.60.311.12463.250622OEDD0091120173530.60.130.61300.934480.2and 134169350.80.140.61581.128390.5OEDD0092848950.70.461.5181.3470.5Including848512.71.826.1385.2371and 27831032.001.50.361.31382.148670.50Including28730215.002.40.381.31813.035451.00OEDD009319923334.000.60.593.0401.522510.20Including1801822.002.51.164.8364.1581.00and 21123221.000.80.743.9401.917400.50Including2152161.001.40.943.8272.8131.00Including2202211.003.81.026.41325.3451.00Including2282291.001.50.332.6182.0221.00OEDD009424125716.000.70.370.91461.312210.50Including2452461.001.90.210.6932.3221.00Including2522531.001.10.541.0991.9121.00Including2562571.001.21.033.3852.7131.00and 29831719.000.80.140.5691.015190.50Including2983035.001.10.200.61461.5681.00Including3073114.001.10.200.5301.4461.00and 33335421.000.90.280.91961.418290.50Including33734912.001.10.321.02311.713211.00and 3533541.001.80.351.3432.3221.00OEDD009518520419.000.30.361.4240.86160.20Including1921931.000.60.813.5631.7120.50Including2032041.001.20.361.571.7120.50and 2122131.000.61.113.8352.2120.50and 2172181.000.60.722.9461.6120.50and 2382391.000.60.222.451.0110.50OEDD009612613711.000.30.150.41780.6370.20Including1321331.000.50.250.7680.9110.50and 14116221.000.90.170.81141.220260.20Including1441462.002.20.381.52272.9471.00Including1521619.001.40.170.9951.712150.50Including1561593.002.90.321.61123.59102.00

Table 2: BBM Drilling Collar Cable

HOLEIDEASTINGNORTHINGRL_MAZIM_TRUEDIPEOH_MCommentsOEDD0065655949.041048015.91450.1935.00-55.00209.51DD Tail from 66m (NSV)OEDD0073655796.271048113.92448.9535.00-55.00107.30DD Tail from 209mOEDD0089655813.071047963.67445.7131.20-57.47410.00OEDD0090655993.811047946.69450.6835.00-55.00317.27OEDD0091656138.391047853.14455.3035.00-55.00194.20OEDD0092655702.701048073.71451.0735.00-55.00335.30OEDD0093655379.891048249.71458.0835.00-55.00278.27OEDD0094655518.241048148.92457.5635.00-55.00398.30OEDD0095655305.161048288.12458.2035.00-55.00284.15OEDD0096656212.451047770.64460.1335.00-55.00191.18OEDD0097655771.521047907.10448.8135.00-55.00524.00Results PendingOEDD0098655709.291047942.84451.4035.00-55.00525.92Results Pending

About Awalé Resources

Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. The Company currently undertakes exploration activities in the underexplored regions of Côte d’Ivoire. Awalé’s exploration success to date has culminated in a fully funded earn-in joint venture with Newmont Ventures Limited (‘Newmont’), covering one permit and one application (the ‘Odienné Project JV’), within the greater Odienné Copper-Gold Project in the northwest of Côte d’Ivoire, where three gold, gold-copper, and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries offer significant potential for growth with future discovery and resource development drilling. The Odienné Project JV has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems. The 400 km² of granted tenure and 400 km² under application remain underexplored and present substantial upside potential. The Odienné Project JV forms a solid foundation for the Company to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries. The greater Odienné Copper-Gold Project includes an additional four applications and an option agreement.

The Odienné Project JV

The Odienné Project JV covers one permit and one application within the greater Odienné Gold-Copper Project and is subject to an earn-in agreement with Newmont (see May 31, 2022 news release). Through this agreement, Newmont retains the option to earn a minimum 65% interest from Awalé in the Odienné Project JV in exchange for US$15 million in exploration expenditures. Newmont is funding the exploration program while Awalé manages the Odienné Project JV during the initial three-year phase.

Quality Control and Assurance

Analytical work for drill samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are stored at the Company’s field camps and put into sealed bags until collected by Intertek from the Company’s secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d’Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Australia where the sample is analysed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis. All fire assay samples returning greater than 5 g/t gold are routinely Screen Fire Assayed, in this special case lower than 5g samples up and down hole from the high grade interval in OEDD-88 were also subject to Screen Fire Assays. As a further QC precaution due to visible gold presence, Intertek was requested to insert a quartz wash between each sample in the mineralised interval, ensuring no sample contamination in the preparation process.

Mineralized Interval Calculations

Significant intervals reported in this news release are calculated downhole length weighted intercepts. For the BBM target initial mineralized are calculated at a 0.2 g/t trigger and include up to 5 metres internal waste for of delineation mineralized zones. Included intervals are at 0.5, 1g/t and 2g/t trigger values with 3m of internal waste only. Table 1 Contains a list of all BBM holes – including OEDD-70 and OEDD-75 which contain mineralized intervals at less than the 0.2 g/t Au trigger value. True Widths are estimated to be 70% of the downhole widths.

Au Equivalent Calculations

Au Equivalent is calculated using the following parameters in USD: Au – 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne and Ag 23.40/Oz (Troy) Prices are 12 month average for 2023 closing price, and the Formula AuEq = Au (g/t) + ((Cu(ppm) * 0.00014) + (Mo(ppm) * 0.00065) + (Ag(g/t)*0.01225)) assuming 100% recovery rates​.

Abbreviations Used in this Release

AgSilverAuGoldAu Eq.Gold EquivalentCuCopperCu Eq.Copper Equivalentg/tgrams per tonnekmKilometresmMetres

Qualified Person

The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company’s Qualified Person as defined by National Instrument 43-101. Mr Chubb is the Company’s Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG) and is a Member of the Society of Economic Geologists (SEG). Mr. Chubb has over 20 years of experience in international mineral exploration and mining project evaluation.

AWALÉ Resources Limited
On behalf of the Board of Directors

‘Andrew Chubb’
Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com

Ardem Keshishian, VP Corporate Development & Investor Relations
+1 (416) 471-5463
a.keshishian@awaleresources.com

The Company’s public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.

Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws (collectively ‘forward-looking statements’). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company’s presence in Côte d’Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222600

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Keep Reading
By
Editor's Pick

Over 200 inmates escape from prison following heavy flooding in Nigeria

By

At least 274 inmates have escaped from a prison in Nigeria’s Borno state following heavy flooding, the Nigerian Correctional Service said Sunday.

“The flood brought down the walls of the correctional facilities, including the medium security custodial center Maiduguri (MSCC) as well as the staff quarters in the city,” the service spokesman Abubakar Umar said in a statement.

According to Umar, at least 281 inmates managed to escape while they were being transferred to “a safe and secure facility” and seven of them were recaptured later.

Umar said that the service is aware of escapees’ identities, including their biometrics and made this information “available to the public.”

The search for the inmates is ongoing, he said.

This is a developing story and will be updated.

This post appeared first on cnn.com

Keep Reading
By
Editor's Pick

Honduran anti-mining activist who fought to save rivers is killed

By

An environmental activist who protested mining and hydro-electric projects in northern Honduras in an effort to preserve tropical forests and rivers has been killed, police said on Sunday.

Juan Lopez was shot dead on Saturday night by several men as he headed home in his car from church, an official told Reuters, speaking on condition of anonymity.

Lopez belonged to the Municipal Committee for the Defense of Common and Public Goods, an environmental organization in the city of Tocoa on the country’s Atlantic coast.

Three other members of the group were killed last year in what the organization saw as retaliation, in a country that is one of the world’s most dangerous for activists.

The group had suffered threats and harassment for years amid efforts to preserve the Guapinol and San Pedro rivers, and the Carlos Escaleras nature reserve, amid the growing presence of mining and hydro-electric companies.

“We demand clear and conclusive answers, this government must answer for the killing of our colleague Juan Lopez,” the group said in a post on social media.

Last October, the Inter-American Commission on Human Rights granted precautionary measures in favor of 30 members of the group and their legal representatives, including Lopez. It urged the Honduras government to strengthen its protection mechanisms.

According to the commission, Lopez reported numerous threats, including from a gang member, a local businessperson, and a mining company representative. Since June, two men on motorcycles began appearing around his home, the commission said.

The United Nations resident coordinator in Honduras, Alice Shackelford, said Lopez had been threatened for his activism, and she praised his efforts to stand up to powerful interests.

“We condemn the terrible murder of Juan Lopez, a human rights defender threatened for his work,” she said in a post on social media.

Latin America accounted for 85% of the world’s environmentalists who were killed last year, according to UK advocacy group Global Witness, with 18 deaths registered in Honduras.

This post appeared first on cnn.com

Keep Reading
By
Editor's Pick

Shanghai slammed by Typhoon Bebinca, strongest storm to hit in seven decades

By

Shanghai was brought to a standstill on Monday morning by what authorities say was the strongest typhoon to directly hit the Chinese financial hub in more than seven decades, with flights, trains and highways suspended during a national holiday.

Typhoon Bebinca made landfall in an industrial suburb southeast of the metropolis of 25 million people around 7:30 a.m. local time. The Joint Typhoon Warning Center (JTWC) said it packed top wind speeds of 130 kilometers per hour (80 mph), the equivalent of a Category 1 Atlantic hurricane.

The storm is the strongest to make landfall in Shanghai since 1949, according to Chinese state media.

The China Meteorological Administration on Monday issued a red typhoon warning, its most severe alert, warning of gale force winds and heavy rainfall in large swathes of eastern China.

The powerful storm has disrupted travel plans for holidaymakers during the Mid-Autumn festival, or Moon Festival, a three-day national holiday that started on Sunday.

All flights at Shanghai’s two international airports have been canceled since 8 p.m. Sunday. Most train and ferry services were suspended, while some highways and bridges in the city were closed.

Many tourist destinations in the city, including Shanghai Disney Resort, were also shut on Monday.

This post appeared first on cnn.com

Keep Reading
By
Editor's Pick

Germany angers European neighbors as it tightens migration along all land borders

By

Germany has begun new controls at all of its land borders as part of a crackdown on migration, placing restrictions on a wide area of free movement known as the Schengen Zone and stirring anger among its European neighbors.

From Monday, as well as existing border controls with Austria, Switzerland, the Czech Republic and Poland, Germany will now also have internal border controls with France, Luxembourg, the Netherlands, Belgium and Denmark.

Berlin will have the power to reject people at all land borders, a statement from the Interior Ministry said. The new rules will last for six months initially.

The move marks how far Germany has shifted in recent years on the flashpoint issue of migration.

The German government under Angela Merkel welcomed more than one million new arrivals during the migrant crisis of 2015-2016 but is now following other European countries in toughening up rules as it faces a surging far-right opposition.

It comes after Germany on Friday struck a controlled migration deal with Kenya, which will see Berlin open its doors to skilled and semi-skilled Kenyan workers.

Announcing the changes, Interior Minister Nancy Faeser said that Germany was “strengthening internal security through concrete action” and continuing its “tough stance against irregular migration.”

She signaled the move was aimed at protecting German citizens from the dangers posed by Islamist terrorism as well as serious cross-border crime.

The move has put the unity of the European bloc to the test and attracted criticism from Germany’s neighbors.

Germany is part of the Schengen border-free area. Under European Union rules, member states have the ability to temporarily reintroduce border control at internal borders in the event of a serious threat to public policy or internal security. However, this must be applied as a last resort.

Poland’s Prime Minister Donald Tusk said that the introduction of tighter controls at land borders was unacceptable for Poland, adding that Warsaw would request urgent talks with all countries affected. Both Greece and Austria have warned that they would not accept migrants rejected by Germany.

Closer to home, Germany’s Council for Migration warned that the plan risks violating EU law.

“The current policy goal of turning back (migrants) seeking protection at Germany’s borders represents a dangerous form of populism in the migration policy debate,” a statement said, which called for an “evidence-based debate on migration policy in Europe.”

Germany’s government, led by Chancellor Olaf Scholz, has been spurred into action to tackle uncontrolled immigration after receiving criticism for not doing enough to tackle the issue.

The country’s approach to migration has toughened in recent years, in light of a surge in arrivals – particularly from the Middle East and Ukraine – as well as terror attacks motivated by Islamic terror.

The coalition government seeking to counter the country’s burgeoning far-right Alternative for Germany (AfD), which is known for its explicitly anti-immigrant and anti-Islam agenda.

The new security package came in the wake of a fatal attack in the western city of Solingen, in which three people were stabbed to death on August 23.

The suspect was identified as a 26-year-old Syrian man with alleged links to ISIS, who had previously been due for deportation.

This post appeared first on cnn.com

Keep Reading
By
Editor's Pick

An American pastor held in a Chinese jail for nearly two decades is finally home

By

A pastor who the United States says was wrongfully detained in a Chinese prison for nearly two decades has been released, according to the State Department, ending a case that the Biden administration said was a top priority in efforts to stabilize relations with Beijing.

David Lin, 68, was detained in China in 2006 after helping to construct an unapproved church building. He was later sentenced to life in prison for contract fraud, a charge he denied.

Lin was one of three Americans deemed by the US State Department to have been wrongfully detained in China. Businessmen Kai Li and Mark Swidan are still held behind bars, on espionage and drug-related charges respectively.

“We welcome David Lin’s release from prison in the People’s Republic of China,” a spokesperson for the US State Department said in a statement Sunday.

“He has returned to the United States and now gets to see his family for the first time in nearly 20 years,” the statement added.

The Biden administration has in recent years stepped up diplomatic efforts to secure the release of the three men.

American officials, including Secretary of State Antony Blinken and National Security Advisor Jake Sullivan, have repeatedly raised the issue during their visits to China, citing it as a “top priority” to resolve their cases.

President Joe Biden also addressed the issue with Chinese leader Xi Jinping when they met in person in San Fransisco in November and spoke by phone earlier this year, according to readouts from the White House.

Lin visited China frequently in the 1990s and started to preach the Gospel there in 1999, according to ChinaAid, a US-based non-profit Christian human rights organization.

He was detained in 2006 for helping an underground “house church” build a place of worship and barred from leaving the country, according to ChinaAid.

Lin regarded his incarceration as an opportunity to share his faith with fellow prisoners and established a prayer meeting group, according to ChinaAid.

In China, many Christians used to worship in house churches, or informal gatherings independent of state-approved churches. But the Chinese government has cracked down hard on the movement in recent decades as the ruling Communist Party tightens its grip on religion, especially under Xi.

In 2009, Lin was jailed for life for contract fraud, a crime frequently used against house church leaders who raise funds to support their work, according to the Dui Hua Foundation, a San Francisco-based human-rights group which advocates on behalf of detainees in China.

While in prison, Lin received several sentence reductions and was scheduled to be released in 2029, according to the Dui Hua Foundation.

Lin’s release was welcomed by some US politicians, who also called for the release of other Americans detained abroad.

“I am extremely glad to hear David Lin was freed,” Rep. Michael McCaul said Sunday in a statement on social media. “However, Kai Li and Texan Mark Swidan still remain CCP prisoners — and must be freed now.”

This post appeared first on cnn.com

Keep Reading
By
Economy

S&P 500 and Nasdaq close to erasing last week’s losses

By

S&P 500 and Nasdaq close to erasing last week’s losses

  • This week is quite bullish after watching the S&P 500 pull back last week
  • This morning, a strong bullish consolidation is pushing the Nasdaq to a weekly high of 19467.1

S&P 500 chart analysis

This week is quite bullish after watching the S&P 500 pull back last week. On Wednesday, we had a short-term pullback to the 5400.0 level. Soon after, we got support down there and initiated a recovery above the EMA 200 and 5500.0. We did not stop there but continued on the bullish side. During this morning’s Asian trading session, the index held above 5590.0. The S&P 500 continued to rise to 5610.0, forming a new weekly high there.

All indicators suggest that the index could continue its bullish growth. Potential higher targets are 5625.0 and 5650.0 levels. The index could drop below the daily open price of 5590.0 if momentum weakens. With that step, it moves to the negative side, where it will be under greater bearish pressure. Potential lower targets are 5575.0 and 5550.0 levels. The EMA 200 moving average is waiting for us in the 5550.0 zone.

 

Nasdaq chart analysis

This morning, a strong bullish consolidation is pushing the Nasdaq to a weekly high of 19467.1. From Monday to today, the index rose over 6.0%. On Wednesday, it received support from the EMA 50 and EMA 200 moving averages, which only reinforced the bullish scenario. During the Asian trading session, the Nasdaq moved in the 19400.0-19460.0 range. There were no changes in the EU session either, and only in the US session do we expect greater index volatility.

We need momentum above this level to climb to a new weekly high. Potential higher targets are 19500.0 and 19600.0 levels. If, by any chance, we see a drop below the daily open price, it would signal the beginning of a bearish consolidation. After that, the bearish momentum grows, and the Nasdaq index retreats further. Potential lower targets are 19300.0 and 19200.0 levels.

 

The post S&P 500 and Nasdaq close to erasing last week’s losses appeared first on FinanceBrokerage.

Keep Reading
By