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October 10, 2024

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In this video from StockCharts TV, Julius presents a few conflicting rotations and signals that continue to warrant caution while the S&P 500 keeps hovering just above support. With the negative divergences between price and MACD/RSI remaining intact, SPY should not break 565. Julius looks at rotations in asset classes, growth/value factors, and US sectors to assess the current state of the markets.

This video was originally published on October 8, 2024. Click anywhere on the icon above to view on our dedicated page for Julius.

Past episodes of Julius’ shows can be found here.

#StayAlert, -Julius

Even though the S&P 500 index appears to be relentlessly pursuing new all-time highs, the traditional seasonal weakness in October leads me to be very focused on risk management right about now.

After my latest conversation with fellow StockCharts contributor Joe Rabil, in which I got to hear his thoughts on risk management, I wanted to share some reflections on what risk management could mean for investors as we get into the meat of the 4th quarter.

Watch the S&P 500’s “Line in the Sand”

My general approach to technical analysis is to determine the current trend, then identify what level or signal would convince me that the trend had reversed. I call this the “line in the sand” technique, because you literally draw a line on the chart, and then don’t give the chart a second thought until and unless that line is violated.

For the S&P 500, that means I’m laser-focused on the 5650 level. The July peak was right around this level, along with the subsequent peaks in mid and late August. The September breakout above 5650 was a key bullish move for the benchmark, and I would expect a break back below this price point could signal the end of the current bull run.

So until and unless we see the S&P 500 break below 5650, then the current bullish trend appears to be alive and well!

Breadth Indicators Could Provide an Early Warning

Now even if the S&P is still holding key support, plenty of individual names could break down before the benchmarks. In fact, this happens quite often during major market tops like 2007! Market breadth indicators are perhaps the best way to analyze and track this potential divergence, where individual stocks start to break down.

Here, we can see the S&P 500 for the last 12 months, along with the new 52-week highs minus new 52-week lows, the new highs and lows for the entire NYSE, and the new highs and lows for the S&P 500 members.

Did you notice how all three of these data series topped out in mid-September, and have been steadily declining since then? A healthy bull market phase usually sees an expansion in new 52-week highs, as the leading names are powering to the upside. But, in the last few weeks, we’re seeing a significant breadth divergence that tells me to be skeptical of the current uptrend phase.

Keep Your Position Size Manageable

In my latest podcast episode with fellow StockCharts contributor Joe Rabil, he shared some words of wisdom on how to think about risk management.  I particularly appreciated his thoughts on position sizing, sharing that he usually risks about 1% of his portfolio on each new idea.

Options expert Price Headley once quipped, “If you’re having trouble sleeping at night, your position size is too big!” By being thoughtful and intentional about how much capital we risk on each new idea, we can minimize the pain in case some of the bearish signs we’re observing actually play out in the days and weeks ahead!

Mindless investors ignore risk management, focusing instead on how much they stand to gain if they’re proven right. Mindful investors recognize that they will often be wrong, and by managing risk, they can survive to invest another day.

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!


David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC


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.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

In this exclusive StockCharts TV video, Joe presents the price pattern to follow the recent breakout in the S&P 500. He discusses narrow range bars, wide range bars and when they are important. Joe then explains what needs to take place now to either confirm a breakout or a failure here; he briefly shows the Volatility condition of the SPY as well, and then analyzes at the QQQ and IWM. Finally, Joe goes through the symbol requests that came through this week, including BABA, PYPL, and more.

This video was originally published on October 9, 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.

As an investor and a technical analyst, there are numerous tools available for you on StockCharts that you can use to find tradable opportunities.

One idea is to begin with a survey of top-performing sectors. It’s Wednesday morning; the Dow jumped 400 points, the S&P 500 ($SPX) hit a record high, and technology stocks spearhead the rally. To begin, under the Charts & Tools tab on Your Dashboard, select Sector Summary (under Research Tools).

If you switch from the default Intraday setting to One Week, you’ll see that the Technology sector is leading the pack.

FIGURE 1. ONE WEEK SECTOR SUMMARY.  The Technology sector is in the top position.Image source: StockCharts.com. For educational purposes.

It’s interesting that tech also held the top spot for the last month. Now, let’s zoom in on the industry level by clicking “Technology Sector Fund.” Semiconductors are on top.

FIGURE 2. ONE WEEK INDUSTRY SUMMARY. Semiconductors lead the pack at the industry level.Image source: StockCharts.com. For educational purposes.

Looking at this information, it makes sense to identify exchange-traded funds (ETFs) that follow Tech or semiconductor stocks.

To begin your analysis, let’s compare three charts (one that represents the sector, another that represents the industry, and one that focuses on stocks within the industry. We’ll use the Technology Select Sector SPDR Fund (XLK), Dow Jones US Semiconductors Index ($DJUSSC), and VanEck Vectors Semiconductor ETF (SMH).

Tech Sector, Semiconductor Industry, and Semiconductor ETF

FIGURE 3. ACP COMPARISON DAILY CHART OF XLK, $DJUSSC, AND SMH. They look identical, but are they?Chart source: StockChartsACP. For educational purposes.

The charts are nearly identical, which makes sense as chip stocks were a significant driver in tech. Given the similarity in performance, perhaps XLK provides a more diversified alternative to concentrating on the semiconductor industry. Let’s take a look at XLK’s daily chart.

FIGURE 4. DAILY CHART OF XLK. A rising smaller trend within a larger swing outlines a wide range of support and resistance.Chart source: StockCharts.com. For educational purposes.

Looking at the broader tech proxy, XLK, you can see a smaller rising trend within a large swing that outlines a wide range of support and resistance. Drawing a Quadrant Line from the bottom to the top, you can gauge where this trend is relative to the intermediate-term highs and lows. For the trend to continue, price has to break above the Quadrant Line at $237.50, while staying preferably above the bottom quadrant (see blue arrow), where it last bounced, at $202.50.

The High-Low Percent breadth indicator above the chart shows modest bullishness, as the number of 52-week highs outnumber 52-week lows, giving you a slightly bullish reading of 15.38%.

Look at the relative performance between XLK and $DJUSCC in the panel below the chart (comparing the sector to the industry). The sector has been underperforming the semiconductor industry since December 2023 (see zero line) and is currently at -32.79%.

Perhaps a semiconductor ETF might be the way to go. But which one? You have a choice of the following:

  • VanEck Vectors Semiconductor ETF (SMH), which is the most liquid
  • iShares Semiconductor ETF (SOXX), another popular ETF, and
  • SPDR S&P Semiconductor ETF (XSD), the smallest of them all by market cap.

Let’s compare their performance to $DJUSSC using StockCharts PerfChart.

FIGURE 5. PERFCHART OF $DJUSSC, SMH, SOXX, SXD. There’s a huge difference in performance between the four.Image source: StockCharts.com. For educational purposes.

All three ETFs are tightly correlated to $DJUSSC, but their relative performances are worlds apart. The best-performing ETF is SMH, which happens to be the most liquid and largest by market cap.

Let’s switch to a daily chart of SMH. In the panel above the chart, you’ll notice the sideways-moving On Balance Volume, indicating that buying/selling pressure is virtually at a standstill as if the asset is waiting for something. What might that be? Notice how the last move down from the July high to the August low corresponds with heavy selling pressure, as shown by the Chaikin Money Flow (CMF). Also, notice how the CMF is trending up.

FIGURE 6. DAILY CHART OF SMH. The first top quadrant is one to watch closely.Chart source: StockCharts.com. For educational purposes.

It makes you wonder how many traders were short SMH or how many just dumped their shares. If some are still short, where will they close to avoid a squeeze? It will likely be close to the first quadrant, which, for the bears, would break the 75% line if you’re measuring from the top down (magenta circle).

Bullish traders jumped in at the bounce near the bottom, and the real action is likely in the top quadrant. That’s where we’ll see if the trend continues (it would need to break resistance at $281.70) or if things go sideways until a major catalyst shakes it up and out of its range.

At the Close

When deciding what stock or ETF to trade, start with the big picture by looking at top-performing sectors. Then, zoom in on the industries driving them. In this case, tech stocks lead the way, with semiconductors at the forefront.  Despite their visual similarities in performance, each asset showed different relative performance, especially between the $DJUSSC index and the three semiconductor ETFs that were nearly 100% correlated with it.



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.

Chariot Corporation Limited (“Chariot”, “CC9” or the “Company”) is pleased to advise that it has intersected significant zones of strong lithium-tantalum mineralisation in the first three (3) holes (“First Three Holes”) of the maiden drill program at the Black Mountain Project (“Black Mountain”), in Wyoming, U.S.A.

HIGHLIGHTS:

Black Mountain maiden drill program delivers strong initial hard rock lithium results with multiple mineralised lithium intersections from first three (3) holesFirst three (3) holes all intersected high-grade spodumene mineralisation confirming the potential of the Black Mountain LCT pegmatite swarmsNotable results from first three (3) holes include:BMDDH23_01 15.48m @ 1.12% Li2O and 79ppm Ta2O5 from 2.74m, including 4.27m @ 2.46% Li2O and 128 ppm Ta2O5 from 9.94mBMDDH23_02 14.33m @ 0.84% Li2O and 61ppm Ta2O5 from 1.83m, including 2.29m @ 3.09% Li2O and 138ppm Ta2O5 from 10.67mBMDDH23_03 18.81m @ 0.85% Li2O and 98ppm Ta2O5 from 45.26m, including 5.79m @ 1.08% Li2O and 105ppm Ta2O5 from 47.55mHigh-grade potential with individual grades downhole of up to 3.79% Li2O and 230ppm Ta2O5Drilling continues with eight (8) holes having been completed to date, assay results for the subsequent five (5) holes are pending and expected to be announced by April 2024BDDDH23_01 intersected a zone of stockwork vein and disseminated pyrite-pyrrhotite mineralisation over an interval of approximately 100m within the biotite schistThe Company is optimistic it may have intersected the peripheral portion of a potentially larger base metal mineral system, with selected intervals grading up to 0.6% (6,012ppm) Cu, 1.0% (9,931ppm) Zn and 15.4% (154,412ppm) PbThe Company plans to extend the soil sampling program and run preliminary IP lines over the base metals anomaly in Q3 2024

These drill results confirm the potential of the Black Mountain lithium caesium tantalum (“LCT”) pegmatite swarms with the assays returning individual lithium and tantalum values of up to 3.79% Li2O (BMDDH23_01-0021) and 230ppm Ta2O5 (BMDDH23_01-0033).

This is the first hard rock lithium discovery, through drilling, in Wyoming, U.S.A. Wyoming Lithium Pty Ltd (“WLPL”) and Panther Lithium Corporation (“PLC”) co-founder1, Dr Edward Max Baker2 commented:

“We’ve got stunning initial results in the midst of the North American winter. The targeted hard rock lithium system has been intersected in multiple holes, but we need to come back in the North American summer for a 5,000 – 10,000m drill program to get a better handle of the resource potential. The base-metals sulfide mineralisation is also very promising and indicates the potential for base metals and/or gold mineralisation, separate from the lithium mineralisation.”

First Three Holes: Drill Results

The First Three Holes (being drill holes BMDDH23_01 to BMDDH23_03) have been completed and assayed with the results summarised in Table 1 (see also Figure 1). A total of eight (8) holes have been drilled to date. The assay results for the subsequent five (5) drill holes are pending and expected to be announced by the end of April 2024.

The drill intercepts reported from the First Three Holes confirm the lithium potential of the Black Mountain LCT pegmatites (see Table 1), as indicated by the surface rock chip sampling results which were disclosed in the Company’s initial public offering prospectus and the Company’s announcement dated 9 November 2023.

The visual inspection of the drill cores indicates that the high-grade lithium values are from intervals containing spodumene mineralisation, with no other lithium bearing mineral phases being visually identified to date.

BMDDH23_01 and BMDDH23_02 were drilled from Pad 1 in the central Northwest swarm area (“Northwest Area”). BMDDH-23-01 hole was drilled to a depth of 177m at an azimuth of 260 degrees and a dip of -50 degrees (see Figure 2, Figure 3 and Figure 4 for selected photos of Drill Core). BMDDH23_02 hole was drilled to a total depth of 42m with the same azimuth BMDDH-23-01, but with a dip of -65 degrees (see Figure 1).

Click here for the full ASX Release

This post appeared first on investingnews.com

Cyclone Metals Limited (ASX: CLE) (Cyclone or the Company) is pleased to announce that Iron Bear completes pilot pellet production run.

HIGHLIGHTS

Iron Bear Direct Reduction (DR) pellets achieve world class specifications, grading 67.5% Fe, 1.6% SiO2, 0.12% MgO, 0.65% CaO and ultra-low deleterious elementsIron Bear DR Pellets have excellent physical properties (CCS 438-486 kg/pellet)Iron Bear DR Pellets demonstrated world class reduction and metallisation properties (Linder 1.0, R180 metallisation 99.1%)Pelletising pilot test work successfully completed, and the company is now starting small scale industrial production:-18 tons of run of mine sediment collected and ready for processing in the Iron Bear pilot plant located at COREM in Quebec City-Iron Bear DR concentrate grading 71% Fe and 1.1% silica-Iron Bear DR pellets and Iron Bear BF1 pelletsIron Bear plans to start shipping bulk samples of DR pellets and other products to potential off take clients in the Middle East and Europe by Q3 2025 with the objective of establishing commercial off take agreements4

Paul Berend, CEO of Cyclone Metals, commented:

‘We have successfully produced Direct Reduction Pellets. This is a major milestone for the Iron Bear project. Our DR pellets demonstrated excellent physical and metallisation properties, and we are on track to start shipping bulk samples to potential off take Clients as early as Q2 2025. Direct Reduction pellets are a key enabler to low carbon steel production and sell at a high premium to the 62% Fe benchmark. This premium is currently ~ 63.5 USD/t2. The industry standard pelletising conversion cost is ~ 15 USD/t which implies a typical additional cash profit of ~ 48.5 USD/t3 for DR pellets versus benchmark 62% Fe iron ore”

About The Iron Bear Project

The Iron Bear Project consists of ten licenses totalling 7,275 ha on 291 graticular Mineral Claims which are 100% owned by Cyclone Metals Ltd.

IRON BEAR PROJECT HIGHLIGHTS

1. Asset located in Canada, less than 25km from an open access heavy haul railway connected to an open access iron ore export port
2. World class 100% owned Iron ore Mineral Resource of 16.6 billion tonnes @ 29.3 Fe% (Inferred 14.51 billion tonnes and Indicated 2.15 billion tonnes, reported in accordance with the guidelines of the 2012 JORC code) (refer to ASX announcement 11th April 2024)
3. Pilot Plant production of high-quality DR grade concentrate1 grading 71.3% Fe and 1.1% SiO2 with high yields due to an exceptional low impurity ore body (refer to ASX announcement 23rd April 2024)
4. Rapid project development plan with bulk samples of DR and BF concentrates available for steel mill clients in Q1 2025 and DR and BF pellets in Q2 2025
5. Cyclone’s development plan is focused on establishing an asset-based JV with a Tier 1 miner or steel producer, in order to bring the Iron Bear project to Decision to Mine and provide the CAPEX

IRON BEAR ACCESS AND INFRASTRUCTURE

Click here for the full ASX Release

This post appeared first on investingnews.com

CleanTech Lithium PLC (‘CTL’, ‘CleanTech Lithium’ or the ‘Company’), an exploration and development company advancing lithium projects in Chile for the clean energy transition, is pleased to announce the results of the Placing announced on 8 October 2024, which was oversubscribed and scaled back.

Results of the Placing

The Placing raised gross proceeds of £2.5 million through the issue of 22,727,266 new ordinary shares (‘Placing Shares‘) at an Issue Price of 11 pence per share. The net proceeds from the Placing will be applied to CTL’s flagship project, Laguna Verde, and critical work programmes to produce battery-grade lithium carbonate for potential strategic partners to test, and for general working capital requirements.

The Placing Shares represent approximately 13.54 per cent. of the Company’s enlarged ordinary share capital following the Admission of the Placing Shares to trading on the AIM market of the London Stock Exchange (‘AIM‘). This has been a necessary interim fundraising as the Company pursues its dual listing on the Australian Securities Exchange (‘ASX‘).

Related Party

As a part of the Placing and on the same terms as all other placees, Regal Funds1, which is currently interested in approximately 15 per cent. of the Company’s issued share capital and therefore a Related Party under the AIM Rules, has agreed to subscribe for 1,727,272 Placing Shares. As such, Regal Funds participation is a Related Party Transaction for the purposes of Rule 13 of the AIM Rules. Accordingly, the Directors of the Company, all independent, consider, having consulted with Beaumont Cornish Limited, the Company’s Nominated Adviser, that the terms of the subscription by Regal Funds are fair and reasonable insofar as the Company’s shareholders are concerned.

1Regal Funds comprising Regal Funds Management Pty Limited and its associates (including Regal Partners Limited, of which Regal Funds Management Pty Limited is a wholly owned subsidiary) which act as trustee and investment advisor for certain funds

Directors Participation

Furthermore, Tommy McKeith, a director of the Company, has participated in the Placing by subscribing for 454,545 Placing Shares for an aggregate value of £50,000. Accordingly, Tommy McKeith is now interested in 909,091 Ordinary Shares representing 0.54 per cent. of the Company’s enlarged ordinary share capital following the Admission of the Placing Shares.

Broker Warrants

In connection with the Placing 1,389,388 Broker Warrants have been issued exercisable at a price equal to the Issue Price up until five years from their date of grant, being the date of completion of the Placing.

Admission and Trading

The Placing remains conditional on the admission of the Placing Shares to trading on AIM becoming effective (‘Admission‘). It is expected that Admission will occur at 8.00 a.m. on 14 October 2024.

Total voting rights

Following Admission, the Company will have a total of 167,889,592 Ordinary Shares in issue. With effect from Admission, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority. Words and expressions defined in the Company’s announcement of 8 October 2024 shall have the same meaning in this announcement.

Steve Kesler, Executive Chairman and Interim CEO of CleanTech Lithium Plc, commented:

‘Thank you to all the investors that have supported CleanTech Lithium in the latest Placing. We are delighted to see the return of existing shareholders and welcome new shareholders who have shown, despite difficult market conditions, their confidence in the Company as we develop responsibly sourced lithium in Chile via Direct Lithium Extraction.

The new funds will be focused on the Laguna Verde project and producing battery-grade lithium carbonate for potential strategic partners as well as maintaining our active engagement with indigenous communities whilst we pursue the dual listing in Australia.

Investors will know we have been one of the most active companies in Chile using DLE to establish ourselves as a leading lithium explorer and developer. We are completely aligned to Chile’s National Lithium Strategy which aims to forge public-private partnerships with sustainable technologies leading the way for lithium extraction in the country.

Our Board would like to take this opportunity to thank all the investors for providing the funding for the Company to meet our planned milestones over the coming months and so deliver value to all our stakeholders.’

For further information contact:

CleanTech Lithium PLC

Steve Kesler/Gordon Stein/Nick Baxter

Jersey office: +44 (0) 1534 668 321

Chile office: +562-32239222

Or via Celicourt

Celicourt Communications

Felicity Winkles/Philip Dennis/Ali AlQahtani

+44 (0) 20 7770 6424

cleantech@celicourt.uk

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish/Asia Szusciak

+44 (0) 20 7628 3396

Fox-Davies Capital Limited (Sole Broker and Bookrunner)

+44 (0) 20 3884 8450

Daniel Fox-Davies

daniel@fox-davies.com

CleanTech Lithium:

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium’s mission is to produce material quantities of sustainable battery grade lithium products using Direct Lithium Extraction technology powered by renewable energy. The Company plans to be a leading supplier of ‘green’ lithium to the EV and battery manufacturing market.

CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and hold licences in Llamara and Salar de Atacama, located in the lithium triangle, a leading centre for battery grade lithium production. The two major projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have direct access to existing infrastructure and renewable power.

CleanTech Lithium is committed to using renewable power for processing and reducing the environmental impact of its lithium production by utilising Direct Lithium Extraction with reinjection of spent brine. Direct Lithium Extraction is a transformative technology which removes lithium from brine, with higher recoveries than conventional extraction processes. The method offers short development lead times with no extensive site construction or evaporation pond development so there is minimal water depletion from the aquifer. www.ctlithium.com

Source

Click here to connect with CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF, Frankfurt:T2N), to receive an Investor Presentation

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Investor Insight

With focused and strategic exploration plans for both its Lucero and Clover projects and the successful sale of its Maverick Springs asset, Element79 has demonstrated a commitment to increasing shareholder value and a compelling case for investors.

Overview

Element79 Gold (CSE:ELEM,OTCQB:ELMGF,FSE 7YS0) is an exploration and development mining company with several exciting opportunities for strategic growth. First, is the potential for near-term production through its Lucero project in Peru. The Lucero mine is one of the highest-grade underground mines in Peru’s history and is on the fast track for resource development and production. Additionally, Element79 owns the Clover project in Nevada, creating further opportunities for long-term resource development. Third, and the most exciting business opportunity for the company yet, is the immediate-term resource development and production of the Lucero tailings. This has been facilitated recently by Element79’s agreement, through a letter of intent, with S.M.R.L. PALAZA 16 to purchase and process approximately 1.3 million tons of tailings from previous mines within the current Lucero mine area.

A globally experienced management team with a proven track record of success in developing operational mines leads Element79 Gold toward fully executing these strategic business opportunities.

Lucero is a past-producing, high-grade gold mine ready to reach production quickly. The mine operated between 1989 to 2005. Historic reports between 1998 and 2004 indicate that the mine produced approximately 18,800 ounces of gold and 435,000 ounces of silver per year at a head grade of19 grams per ton (g/t) gold equivalent. An NI 43-101 report prepared by a third party indicates grades up to 116.8 g/t gold equivalent. In addition to the potential of generating cash flow in the near term, the 10,805-hectare Lucero project also has high upside potential for further greenfield exploration.

Peru is considered a relatively stable mining jurisdiction, especially for smaller-scale operations. As mining is an essential aspect of the country’s GDP, Peru has developed a favorable regulatory regime for its mining industry. Element79 Gold is poised to benefit from the pro- mining jurisdiction as it moves the Lucero asset toward production.

Element79 Gold has engaged a Peruvian technical mining service provider, Ore Discovery LLC, to work in conjunction with Element79’s operations team. The 2023 site work included above-ground and underground mapping, sampling, trenching, drill site targeting on both better-known and unexplored vein systems, for exploration and de-risked resource development on the path toward ore extraction and near-term cash flow generation.

Assays from the underground sampling include results of up to 98 g/t gold and 2,034 g/t silver. Moreover, assays from March 2023 yielded 21-ore grade and high yield up to 11.7 ounces per ton gold and 247 ounces per ton silver, further validating the potential for a significant high- grade future operation.

In June 2023, Element79 further strengthened its portfolio in Peru with the acquisition of the 1,200-hectare Lucero del Sur 28, located strategically just east of the high-grade Lucero gold- silver project. Lucero del Sur 28 is a coveted area covering the Roxana vein, a vein dominated by white to hyaline quartz and altered rock clasts, with lesser amounts of limonite patinas, hematite, pyrite and jarosite.

In September 2024, Element79 signed a letter of intent with S.M.R.L. PALAZA 16 to purchase and process approximately 1.3 million tons of tailings currently controlled by Palaza at the Lucero Mine. This agreement marks the launch of a tailings reprocessing venture for Element79 and represents a significant economic opportunity for the company.

Element79’s secondary asset, the 100 percent owned Clover project, is located in the historic Midas mining district and comprises 169 unpatented claims over 3,063 acres in Elko County, Nevada. A well-known gold and silver producer since the early 1900s, the Midas district has yielded more than 2 million ounces of gold between 1998 and 2013.

The company also previously held the Maverick Springs project in Nevada. Acquired by Element79 in December 2021 for an adjusted cost of C$3.34 million, the project was sold to Sun Silver Resources (ASX:SS1) in May 2024 for C$4.4 million cash and 3.5 million shares of SS1 priced at 0.20 AUD.

A powerhouse management team leads Element79 Gold with a track record of experience and success. Kim Kirkland, COO and former VP global exploration, has held executive and lead operations-focused engineering roles with some of the world’s largest mining companies, including Barrick Gold, Rio Tinto Group, MMG, Amec Foster Wheeler PLC and McEwen Mining. Kirkland has served as project lead with extensive South American experience, who can proficiently lead exploration programs and mining operations through milling, extraction/concentration and optimization/beneficiation.

Antonio Maragakis, former COO and director, now advisor, has held director-level positions at miners with multi-billion dollar portfolios, including Barrick Gold Corporation and Koch Industries. He has also built a leading global mining engineering consultancy, Mine Plus Group, as well as a private mining fund focused on near-term production development projects, MFD Holdings SA.

Shane Williams, strategic advisor, brings a history of significant value creation in early-stage and operating companies and currently heads West Red Lake Gold (TSXV:WRLG) as president and CEO. Combined, Element79 Gold has the right experts to fully realize its assets’ potential.

Company Highlights

Element79 Gold Corp is an exploration and development mining company with a high- grade gold and silver flagship project with near-term resource development and cash flow potential.The company’s Lucero project in Peru has historical high-grade results and provides opportunities for both near-term revenue and future greenfield exploration.Lucero has historically produced 18,800 ounces of gold and 435,000 ounces of silver per year at 19 grams per ton gold equivalent.Peru is considered a safe jurisdiction for mining operations due to a pro-mining government that recognizes the industry’s economic contributions.Element79 Gold also owns the Clover project, a notable exploration asset in the Midas Mining District, Battle Mountain, Nevada, USA.A powerhouse management team leads the company toward fully developing its asset portfolio.

Key Projects

Lucero Gold Project

The 10,813-hectare project in southern Peru presents near-term cash flow potential as it moves toward production. Lucero operated as a high-grade gold mine between 1989 and 2005 and remains partially unexplored. As a result, the asset is in a unique position to start generating revenue while also providing future growth opportunities with additional exploration.

Project Highlights

Encouraging Historic Results: Reports from 1998 to 2004 indicate production averaging roughly 18,800 ounces of gold and 435,000 ounces of silver per year, with grades of 14.0 g/t gold and 373 g/t silver. Additionally, the asset contains recoveries at the ore processing facility averaging 94.5 percent for gold and 85.5 percent for silver for near-term cash flow.Unique Geology: Lucero hosts 74 recognized epithermal veins, 14 of which have been partially exploited. The project is a low-sulphidation epithermal gold-silver deposit hosted within tertiary volcanics in the Central Andes Cordillera of southern Peru. The project also hosts unexplored high-sulphidation style mineralization, which has returned surface samples up to 33.6 g/t gold.Promising Resource Estimate: A third-party NI 43-101 report indicates grades up to116.8 g/t gold equivalent, or 78.7 g/t gold and 2,856 g/t silver. Element79 Gold is moving towards production to capitalize on these resources.Strategic Partnership: Element79 signed a letter of intent with Palaza for the exclusive purchase and processing of about 1.3 million tons of tailings at Lucero, representing a significant economic opportunity.

Clover Gold Property

The Clover Property is located in the historic Midas mining district in Nevada, which has been producing gold and silver since the early 1900s, It is 16 kilometers west of Hecla Mining Company’s Midas Mine, the largest known gold-silver epithermal deposit along the Northern Nevada Rift. Mineralization at the property is classified as low-sulphidation, vein-hosted, epithermal gold mineralization similar to that found at the Midas deposit as it is found within a similar geologic setting. Gold and silver mineralization at the Midas Mine is hosted in several northwest-striking veins. Between 1998 and 2013, the main veins produced over 2 million ounces of gold.

A $6.7-million program is planned for the Clover Property focused on data compilation, construction of geologic and resource models, and a 10,000-meter drilling program followed by a mineral resource estimate and NI 43-101 compliant preliminary economic assessment.

Project Highlights

Consists of 169 unpatented claims encompassing 3,063 acres.Located in the historic Midas Mining District, which has been producing gold and silver since the early 1900s, along the northeast trending Getchell Trend that bridges the northwestern ends of the Carlin and Battle Mountain Trends and contains Nevada Gold’s active Turquoise Ridge Mine, the third largest gold mine in the US with 537,000 ounces of gold production reported in 2020.Drilling by previous operators intersected mineralized and veined breccias and shear zones with significant intercepts including 9.7 meters grading 25.3 g/t gold, 7.6 meters of7.9 g/t gold and 3 meters of 10 g/t gold.Work to date by Element79 found that the property has ubiquitous expressions of precious metals and pathfinder elements in rock chip, soil geochemistry and drill hole intercepts consistent with the Midas, Hollister and other classical epithermal systems.

Management Team

James C. Tworek – Chief Executive Officer and Director

James Tworek has held director, senior management, analytical and operations roles in both public and private companies. A quick study and entrepreneurial to the bone, his 25-year career started in banking in 1998 and has since garnered a wealth of experience across diverse industries between commercial banking, mining, project finance, mezzanine debt, oil and gas, clean water/envirotech and hemp/legal cannabis industries. He has investing experience in real estate, private equity, private mining, startup generation, tech and agricultural ventures. A team leader driven by results, Tworek has built his career on successfully executing development and corporate growth targets, exceeding sales objectives, and being mindful of ensuring open communication, honesty and integrity with investors and stakeholders.

Tammy Gillis – Chief Financial Officer

Tammy Gillis is a CPA, CMA with over 20 years of experience in the public markets bringing a comprehensive background in finance, reporting and regulatory requirements for manufacturing, bio-technology, technology and junior exploration industries. Gillis has been part of teams that have completed several financings, grant applications and acquisition transactions. Ms. Gillis started her career working at a corporate and securities law firm. Gillis previously served as corporate accountant for an international manufacturing company that had revenue in excess of

$120 million and as chief financial officer for a technology company with patented cathode materials used in lithium-ion batteries that successfully built a pilot plant with the assistance of over $4 million in government grants. Ms. Gillis has served as an officer for several TSXV and CSE-listed issuers.

Kim Kirkland – Chief Operating Officer, QP

Kim Kirkland’s track record spans senior executive and lead engineering roles at some of the world’s largest mining companies. Key highlights of Kirkland’s work history include:

Barrick Gold Corporation – Involved during the early growth and innovation years at the Goldstrike Complex, including the development and maintenance of the open-pit mineral reserve model for the Betze-Post Mine Rio Tinto Group – La Granja Copper Project in northern Peru, held a senior management position at the Benga MineMMG Ltd. – regional manager at the Las Bambas Copper Mine in PeruAmec Foster Wheeler Plc – Marcobre SAC’s Mina Justa Mine ProjectMcEwen Mining – Responsible for the restructuring of the El Gallo Silver Project (later renamed to Fenix) in Sinaloa, Mexico, as the director of project development.

Neil Pettigrew – QP, Director

Neil Pettigrew is a professional geologist in good standing, registered in Ontario, with over 20 years of experience in the mineral exploration industry. He received his Honors B.Sc. from the University of New Brunswick and his M.Sc. from the University of Ottawa. Pettigrew has been employed as a senior precambrian geoscientist with the Ontario Geological Survey and has worked for several junior and major companies in gold and Cu-Ni-PGE exploration. He has held officer and director positions at several TSX and TSXV-listed junior companies and currently sits as vice-president of exploration and director of GT Resources (formerly, Palladium One Mining)

Zara Kanji – Director

Zara Kanji is a founder of Zara Kanji & Associates (established in 2004). Kanji is experienced in financial reporting compliance for junior listed resource companies, personal and corporate taxation, general accounting, financial reporting and value-added operational consulting services for individuals, and private and public companies. Prior to starting her accounting practice, Kanji served as a controller for a marketing company, as an accountant in public practice for a CA firm, a CGA firm and as an analyst for a pension fund. In addition to providing accounting and financial compliance services to private and public entities, Kanji has served as director and officer for several listed issuers.

Warren Levy – Director

Warren Levy brings more than 23 years of experience developing major and private companies in resource development across the Americas. He has achieved significant milestones and successes centered around community engagement, sustainable development of infrastructure, energy and natural resource development. Levy is the current CEO of Frontier Advisory, an advisory firm providing energy policy advocacy, sustainability, market entry, capital raising and technical support to responsible natural resource and social development around Latin America. He is also former CEO of Jaguar E&P, as well as former CEO of Pentanova Petroleum.

Antonios (Tony) Maragakis – Strategic Advisor

Antonios Maragakis completed his PhD at the University of Delft, MSc at the University of Bath, his B.Sc and B.A. at the University of Nevada, and executive training at the London Business School. He brings with him more than 15 years of experience leading some of the largest mining megaprojects in the last decade. Maragakis holds a distinguished resume, including management and director-level positions overseeing multibillion-dollar project portfolios internationally at organizations, such as:

Barrick Gold (NYSE Listed), where he led project controls in North America across a portfolio of more than 70 projects worth over $2.3 billion.Skeena Resources (TSX Listed), where he worked closely with executive leadership to develop the Eskay Creek Project and corporate processes and management systems.Freeport-McMoRan (NYSE Listed), where he helped develop the $3-billion Indonesian Copper Smelter Project which includes a two-million-ton/annum smelter and precious metal recovery plant.Eldorado Gold (TSX, NYSE Listed), where he was project director for the over $1-billion Skouries Project, as well as led the operational turnaround of the Kassandra Mines.Koch Industries (the largest privately held company in the US), at its subsidiary, Koch Ag. & Energy Solutions, where he helped execute the Enid Expansion Megaproject, at the time the largest capital project ever undertaken by the entire Koch Industries conglomerate.Mochica Resources and Calipuy Resources (private Peruvian gold mines) where he oversaw the development of various project portfolios.

Shane Williams – Strategic Advisor

Shane Williams carries a history of significant value creation in both early-stage and operating companies, which includes senior executive and management roles overseeing and delivering world-class, multibillion-dollar projects at highly prominent companies, including: chief operation officer at Skeena Resources (NYSE Listed), Eskay Creek Project; former senior vice-president at Eldorado Gold (NYSE Listed), $2-billion global project portfolio; former general manager of expansion projects at Rio Tinto (NYSE Listed), $2.5-billion CAPEX; and former vice-president of projects at Kaunis Iron AB, $800-million flagship Kaunisvarra Iron Ore Project.

Kevin Arias – Strategic Advisor

With over two decades of experience across industries such as mining, energy and corporate finance, Kevin Arias brings a wealth of knowledge and expertise to the company. His strong background in business development, investor relations, securities and corporate communications, combined with a proven track record in raising over C$100 million since 2008, positions him as a valuable addition to the Element79 team.

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The Italian government is facing a new set of challenges as it prepares to open two migrant processing centers in Albania in October where men rescued at sea en route to Italy will be processed for asylum.

It’s a move which the hard-right administration says will combat human trafficking and allow in only those who have a genuine right to enter the European Union, but which has drawn scorn from human rights groups.

On Friday, the European Court of Justice ruled that the plan to offshore migrants from countries Italy deems “safe” but which the European Union does not, is not legal.

However, the court’s decision is non-binding and Italy and Albania are not prohibited by the ruling from going forward with the plans. The centers – one in the Albanian port city of Shengjin and the other further inland in Gjader – were supposed to open on May 1 after the two nations signed a bilateral agreement last November, but “unforeseen circumstances” including building delays and bureaucracy have repeatedly pushed back the opening.

Italian Interior Minister Matteo Piantedosi said last month: “We will start in October. There’s definitely been a few months of delay, there were some normal checks, in which we discovered, for example, that the ground needed to be reinforced. That’s all, very normal variations during construction.”

In August, the Italian government opened a trial detention center near Agrigento, Sicily, intended to mirror those in Albania by housing men from “safe” countries for fast repatriation. A court in Catania ruled the measure illegal under Italian law, but that ruling was overturned and two Tunisian men were deported without having their asylum requests processed on September 11, Piantedosi said in a post on X.

Seaborne migration on the central Mediterranean route, to Italy and Malta, is down by more than 60% on this time last year, according to Italy’s Interior Ministry and Europe’s Frontex agency. The decrease in the central Mediterranean has meant an increase in migrants trying to make it to Greece and Spain, according to Frontex statistics, and is largely due to clampdowns on NGO rescue ships and Prime Minister Giorgia Meloni’s frequent trips to both Libya and Tunisia to apply pressure to keep migrants from leaving.

The drop in numbers notwithstanding, the Italian government is continuing to pursue an anti-immigration platform, which is widely supported by voters with Meloni enjoying a 44% approval rating, according to an Ipsos poll in September 2024.

Meloni’s so-called “Rome Process,” which she says aims to deter illegal migration and to tackle its root causes, has been of great interest to UK Prime Minister Keir Starmer, who visited the Italian capital in September and pledged €4.75 million to the initiative, her office said.

“We talked about the Italy-Albania agreement, which is a solution that the British government is showing a lot of interest in, and clearly we have offered them all the elements to better understand this mechanism,” Meloni said during a press conference after the bilateral visit.

Meloni said Starmer had expressed interest in using the Albanian centers for migrants crossing the English Channel, but Albanian President Edi Rama told the European Parliament on September 19 that the centers were only open to Italy-bound migrants. “This is an exclusive agreement with Italy because we love everyone, but with Italy we have unconditional love,” Rama said.

Albania lies just across the Adriatic Sea from Italy but is not an EU member state.

In 2023, more than 157,000 people arrived illegally in Italy by boat from Libya and Tunisia, with hundreds known to have died trying, making the issue of sea migration one that all sides of the political spectrum agree must be better managed.

The asylum process is lengthy, meaning many would-be asylum seekers give up and slip into the periphery of Italian society or travel to countries in the north of Europe.

Amnesty International has called the Italy-Albania plan “shameful,” saying intercepted migrants will face a lengthier journey by sea to Albania, a potentially prolonged detention once there, and a likely curtailment of their right to seek asylum.

‘Don’t court the local women’

The centers will house up to 3,800 adult men at a time, who will be guided through the application process for requesting asylum in Italy, the Italian authorities say. If they do not qualify for asylum, they will be deported to “safe” countries, according to the agreement between Italy and Albania.

“We have been told not to be ‘too Italian,’” said the officer, who asked not to give his name since he is not authorized to speak for the unit. “We were given a handbook that outlines how to behave: no nudity, don’t court the local women, and drink coffee sitting down, not standing up at the counter.”

The handbook also describes Albanians as “modest people” and guides the incoming officers on how not to act “superior” to them. Flirting is a no-no. “Avoid courting Albanian women in various contexts and in an extemporaneous manner. It is a conservative society. The man who sees his woman being courted by another man can react badly,” the handbook also warns.

In all, Italy will provide 500 personnel, including police and military officers, health workers, and staff from the Justice Ministry, at an estimated cost of €252 million (about $278 million), according to Meloni. A local restaurateur in Shengjin has even opened the “Trattoria Meloni” to pay homage to the Italian prime minister for the investment in Albania, which has and will continue to benefit the local areas financially.

Additionally, Italy will pay €670 million (about $738 million) over the initial five-year contract for the centers’ operation and also pay for a second perimeter of security to be manned by Albanian guards to make sure none of the asylum seekers can escape. The cost comes to around 7.5% of what Italy currently spends on its migrant reception centers, Meloni said in June, speaking alongside Rama.

‘Clear risk’

The Shengjin port center will at first have just 880 places and is where all arrivals will be processed. Those who qualify to have their asylum claim heard will then move to the center in Gjader, which will open with 144 beds and then be expanded to hold 3,000 people while they await a response to their application from Italy. The complex also has a maximum-security 20-bed prison and emergency medical services.

The agreement states that only migrants from 22 nations considered by Rome to be “safe countries” will be sent to Albania, including men from Bangladesh, currently the fastest growing demographic arriving in Italy by sea, according to Italy’s Interior Ministry.

Other listed “safe countries” include Egypt, Tunisia and the Ivory Coast, citizens of which make up a large portion of arrivals. The European Court of Justice does not consider Tunisia and Egypt completely safe, which is at the crux of last week’s ruling.

Those who are from countries not deemed safe by Rome, such as Afghanistan and Syria, will initially be taken to Albania but later transferred to Italy for processing once their country of origin is confirmed.

The policy of “offshoring” asylum seekers has been heavily criticized by human rights groups.

“There is a clear risk that the operation intends to hide a strategy to create inaccessible reception centers, far from prying eyes and journalistic investigations, and from the nightmare of having to find a place for them in Italy, where no administrator, of any political stripe, can find them,” said Schiavone.

Piantedosi insists the opening of the Albanian centers is meant to act as a deterrent for migrants seeking to be smuggled into Italy. Meloni, who campaigned on a promise to “stop the boats,” has credited her government’s policies on investments in North African countries and punishing NGO migrant rescue vessels for this year’s decrease in arrival numbers.

The United Nations’ International Organization for Migration says that an increase in deaths of migrants at sea and a rise in migrant boats known to have departed from Libya and Tunisia going missing, presumed sunk, have also contributed to a drop in arrivals.

Questions over how to handle the many thousands of migrants who seek to enter Europe each year, often fleeing war, persecution and poverty and traveling in boats that are barely seaworthy, may be focused on border nations like Italy, Greece and Spain, but the ramifications extend beyond these frontline countries.

A group of 15 European countries, led by Denmark and including Italy, has petitioned the European Union to consider finding “new solutions,” like the Italy-Albania agreement, to help deal with irregular migration and “create a fairer, more humane, sustainable and efficient asylum system worldwide.”

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Fay Manners and Michelle Dvorak were perched high on the snowy face of a Himalayan mountain when disaster struck their quest to become the first to summit its peak.

At more than 6,000 meters (about 20,000 feet) above sea level, a falling rock sliced through the rope carrying Manners’ bag, leaving the climbers stranded in the inhospitable wilderness without vital supplies including their tent, stove, food, crampons and ice axes.

“All I can really remember is just seeing the bag go down the mountain and being really shocked, thinking, ‘How has this happened? Like, what’s going on?’”

But for both climbers, their immediate reaction wasn’t fear for their safety or survival – it was devastation that their mission, which required painstaking preparation, training, and altitude acclimatization, was being cut short when they were so close to their goal.

Manners, a Briton living in France, and Dvorak, an American, had been “absolutely desperate” to reach the summit of the unclimbed peak in India’s northern Uttarakhand state.

Their attempt to climb the nearly 7,000-meter Chaukhamba III began on September 27, as they clambered across ice and rock and slept on narrow ledges. The approach to the mountain alone was incredibly tough, Manners said – they had chosen a maze-like route that navigated endless deep crevasses and precarious snow bridges that risked collapsing in warmer weather. It took three attempts before they could even reach the base of the mountain, she said.

“We were near the end of all the difficulties … (we) maybe had one more day to get to the summit, and then we would have been the first to reach this summit,” Manners said. Instead, “our dreams were just falling down the mountain.”

Without their gear, climbing back down and across the crevasses was near-impossible, so they contacted emergency services for help. But the severity of their situation soon became clear when helicopters failed to spot them on the vast mountain face the next morning – and again the following day.

“We searched all day at the coordinates provided to us by the tour company but did not find anything,” he said.

All the while, the climbers had no food besides two energy bars that they “nibbled on,” and no water, since their stove to melt snow had been lost, Manners said.

Even their dehydrated food was no use without the stove. At one point, desperate and dehydrated, they abseiled to a spot with dripping ice and collected a tiny amount of water during the few hours when the sun was out.

And the conditions steadily deteriorated as they faced a snowstorm, hail and even an avalanche. They huddled together in their wet sleeping bag, hair frozen solid, with nighttime temperatures reaching –15 degrees Celsius (5 degrees Fahrenheit).

“I was close to hypothermia, I think, and I was shaking so violently through the night that Michelle had to hold my legs to just try and keep me warm,” Manners said. “That sleeping bag saved our lives.”

That’s when they knew they had to act, even if they were weak and disoriented, she said. The next morning, they began abseiling down the mountain through thick fog, knowing the journey back to base camp could be “incredibly dangerous” with high chances of serious injury or falling down a crevasse.

But as they reached the bottom, they glimpsed a group of French mountaineers – a rival team that had also been hoping to reach the summit first. Negi, the information officer, said Indian authorities had reached out to the French team for assistance after being unable to locate Manners and Dvorak.

When Manners realized the French team had been sent to rescue them, “all my emotions came out at once, and I had some tears in my eyes,” she said.

With their help, she and Dvorak trekked to the French base camp, munching on cheese their rescuers had brought from France, she said. The Indian Air Force then airlifted them to a nearby hospital on Sunday, three long days after they were stranded.

Both climbers are uninjured and eager to fly home. And their brush with death hasn’t deterred them from following their dreams, said Manners, who encourages women and girls to pursue the sport. She wants to try the summit again next year – perhaps with the French team who rescued them.

When people look at their experience, she hopes they see two strong women who “got really close to the top,” she said. And when things went awry, they were “still able to survive and manage themselves through that really adverse and terrible situation.”

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