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October 12, 2024

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Small-Caps Get on Board!

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Yesterday, we posted a short video about the lack of participation within the mid-and small-cap universes. Here, we had a rally to new all-time highs, yet we weren’t seeing much of anything out of the broad market. Today was a reversal of fortune for these indexes, which rallied more strongly than the large-cap indexes. Check out today’s less-than-three-minute video on the new participation numbers.

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Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2024 DecisionPoint.com

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. 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.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

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Last Week’s Pullback is a Buying Opportunity!

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In this StockCharts TV video, Mary Ellen highlights what’s driving these markets higher despite a rise in interest rates. She also focuses on the leadership area in Technology and shares several stocks from this group. Last up, she reviews how to quickly uncover top stock candidates when a new sector turns bullish.

This video originally premiered October 11, 2024. You can watch it on our dedicated page for Mary Ellen on StockCharts TV.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

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The One Volume Indicator You Should Follow

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I was asked recently about volume, specifically why I don’t feature volume often on my daily market recap show, CHART THIS with David Keller, CMT.  I replied that when I was learning the technical analysis toolkit earlier in my career, I very much paid attention to volume indicators.

But in the years to follow, I developed a process that focused more on trend and momentum, and I felt the approach worked quite well despite the lack of volume inputs.  But there is one indicator that has been fairly successful at recognizing market turns over the last year, and it’s a chart I will be following closely in the weeks to come.

Volume to Chaikin Money Flow

First, let’s talk about how we measure volume over time.  The easiest way to represent volume is with the daily volume bars, helping us determine if today’s volume is above or below average.  And while that can be helpful for navigating the short-term environment, it doesn’t help us assess how volume is evolving over time.

Famous strategist Joe Granville developed the concept of “On Balance Volume” where he created a cumulative total of volume by adding up days’ volume and subtracting down days’ volume.  Similar to an advance-decline line, it does help to indicate the general directional trend in volume.

The issue here is that we’re taking an entire day’s volume and considering it all bullish or all bearish, depending on whether the close was higher than yesterday.  What about if we finished at the high or the low of the day.  Shouldn’t that matter in some way?

An Advance-Decline Line for Volume

Another legendary technician, Marc Chaikin, improved on Granville’s work by looking at every day’s price bar.  If the close was closer to the high, then that day’s volume should be worth more in the running total.  And if the close was near the middle of the range, that day’s volume should be worth less in the calculation.

Now we can see the running total of daily volume, but with more value given to the days with highs near the high or low for the day.  So big up days and down days become much more important when we consider the overall trend in volume.

When the indicator is above zero it’s shaded green, and long-term uptrends often feature extended periods of green.  When the indicator is below zero, represented with the red shading, this suggests a period of distribution as the down volume appears heavier.

Watching for Volume Divergences

While crossing below the zero line would represent a general rotation in volume from more accumulation to distribution, the real benefit of this indicator is in the early warning sign based on divergence.

As the market was moving higher in July 2023 into the eventual August high, we saw a decline in the Chaikin Money Flow.  We observed a similar pattern in March 2024, as the SPY pushed higher even as the CMF was trending lower, as well as in July 2024.

Notice how the current reading shows the Chaikin Money Flow reading as still quite strong for the S&P 500?  This suggests that the market is still in a position of strength, given the stronger bullish volume in recent weeks.  But this chart also tells us to keep a wary eye on the CMF in the coming weeks.  Because a bearish divergence here could provide an early warning sign to mindful investors staying attuned to the rhythm of the markets.

Heads up!  We just launched our new podcast, Market Misbehavior with David Keller, CMT, in October!  Check out our recent interviews with Mark Newton, Joe Rabil, Mish Schneider, and Mike Livingston.  Lots more great conversations coming your way very soon!

RR#6,

Dave

PS- 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.

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Cybersecurity ETF Comes to Life with New Trending Phase

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The Cybersecurity ETF (CIBR) is resuming the lead as it surged to new highs this past week. It is important to note that CIBR began its leadership role a lot earlier because it hit a new high in late August. Today’s report will analyze the recent breakout and suggest some possibilities in the future. 

First notice that the Technology SPDR (XLK) and five tech-related ETFs are leading in October (semis, cybersecurity, software, fintech and cloud). They are up 2% or more and easily outperforming the major index ETFs (SPY,QQQ,IWM). The tech ETFs underperformed in July-August and are now getting their mojo back.

 

I featured CIBR in Art’s Charts on September 14th, demonstrating how to use the Percent above MA (5, 200) to define the trend and reduce whipsaws. In an long-term uptrend, stocks and ETFs experience both trending and non-trending periods, with the latter often lasting longer.

The chart below shows CIBR trending higher from late October 2023 to mid-February 2024, less than four months. A non-trending period followed and lasted over six months. Most recently, the ETF broke out of this range and entered a new trending period. I expect this trending period to last a few months and prices to extend higher.

The breakout zone around 59 (red line) turns into the first support area to watch in case of a throwback. Throwbacks occur when prices fall back to the resistance zone after a breakout. Overall, support is marked in the 59-60 area, and a pullback to this zone would provide a second chance to participate in the breakout.

TrendInvestorPro is focused CIBR, tech-related ETFs and tech stocks as they move from corrective non-trending periods to trending periods. We think the market is looking past the elections and toward seasonal patterns, which soon turn bullish. Opportunity awaits! Click here to learn more.

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“Using Breadth for Capitulation, Thrusts, Market Regime and Oversold Conditions”. This report covers four ways to utilize breadth indicators. Capitulation conditions often signal major lows, while thrust signals indicate the start of a bullish phase. Market regime helps distinguish between bull and bear markets, and oversold conditions identify tradable pullbacks within bull markets. We explain the indicators, settings, and signals for each scenario.

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Highlights from Recent Weekly Reports/Videos:

October 4th Report: We identified bullish breakouts in several tech-related ETFs (QQQ, XLK, MAGS). Additionally, we noted continued strong performance from software and cybersecurity (IGV, CIBR). The report also showcased bullish continuation patterns for three leading AI stocks and identified two bullish setups in the healthcare sector.

September 19th Report: We began with our breadth model, which has maintained a bullish stance since December 7th. Narrowing yield spreads continue to show confidence in the credit markets. The report featured bullish setups in ETFs related to copper, base metals, copper miners, and palladium (CPER, DBB, COPX, PALL).

Click here for immediate access!

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Hertz Energy Inc. Announces Resignation Of Director

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(TheNewswire)


Vancouver, British Columbia The Newswire October 11, 2024 Hertz Energy Inc. (CSE: HZ; OTCQB: HZLIF; FSE: QE2) (the ‘ Company ‘) announced today the resignation of independent director Bala Pratap Reddy Udumala from the Company’s Board of Directors (the ‘ Board ‘).

Bala Pratap Reddy Udumala joined the Company in August of 2019 and has been a valuable member of the Board of Director.  ‘On behalf of the Board and management, we would like to thank Pratap for his valuable contribution as a director of the Company and throughout his subsequent tenure.  We wish him the best with his future endeavours,’ expressed Kal Malhi, CEO of the Company.

The Board will begin a search for a new Independent Director and will notify the market when a replacement has been interviewed and selected.

About the Company

The Company is a British Columbia-based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the district scale AC/DC Lithium Project and Snake Lithium Project, both located in James Bay, Quebec.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedar.com.

On Behalf Of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. ‘ United States ‘ and ‘ U.S. Person ‘ are as defined in Regulation S under the U.S. Securities Act.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Copyright (c) 2024 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

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Suki Secures US$70M to Drive AI-Assisted Healthcare Solutions

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Suki AI, a healthcare-focused startup, has secured US$70 million in a Series D funding round aimed at further developing its artificial intelligence (AI) assistant tools for hospitals and medical providers.

Reuters reported that the latest round brings the company’s total funding to US$165 million and, according to sources familiar with the deal, valued Suki at around US$500 million.

Founded in 2017 by Punit Soni, a former Google (NASDAQ:GOOGL) and Flipkart executive, Suki specializes in developing AI-powered voice assistants designed to alleviate the administrative burden placed on healthcare professionals.

The company’s flagship product, Suki Assistant, is widely used to streamline clinical documentation tasks such as retrieving patient information from electronic health records, taking medical notes and assigning standardized medical codes.

These functions enable healthcare providers to focus more on patient care while reducing time spent on data entry. For instance, Suki Assistant’s speech recognition feature allows doctors to generate medical notes more quickly, helping them complete tasks like reviewing patient histories and summarizing visits with less manual input.

Additionally, the AI can automate the coding of diagnoses and procedures using the ICD-10 system, streamlining the process of documenting patient encounters.

Suki’s products have gained traction as healthcare systems increasingly explore AI solutions to optimize clinical workflows. Since its inception, the company has established partnerships with over 300 health systems and healthcare providers.

Suki’s AI tools also integrate with major electronic health record platforms, such as Epic, Oracle’s Cerner, Athena and MEDITECH, giving it one of the broadest EHR integration portfolios in the industry.

Through the funding, the company aims to enhance the company’s product offerings and accelerate product development.

Despite the momentum, Suki faces competition from several key players in the market, as the healthcare industry has been increasingly adopting AI technologies in recent years.

Microsoft-owned Nuance, which offers Dragon Medical One, is another major presence in the space of AI-based speech recognition and clinical documentation tools. Other startups, such as Abridge, which has raised US$150 million, are also vying for a share of the growing medical AI sector.

Suki has managed to accelerate its growth ahead of its competition. One recent development includes a partnership with Maryland-based MedStar Health, which is rolling out Suki AI to thousands of its clinicians.

According to the company, over a dozen other healthcare systems have either adopted the platform or expanded their use of it within the past two months.

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

This post appeared first on investingnews.com

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NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

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Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) (‘NextSource’ or the ‘Company’) announces it has closed a non-brokered private placement offering of 27,728,100 common shares of the Company (‘Shares’) at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$14,695,893 (the ‘Offering

Vision Blue Resources Limited. (‘Vision Blue‘) purchased 15,582,300 Shares under the Offering for a total subscription price of CAD$8,258,619, with significant new and existing shareholders of the Company representing the remaining investors.

The net proceeds of the Offering are intended to be used primarily to progress the Company’s strategy of a staged rollout of Battery Anode Facilities (BAF) to produce active anode material for EV batteries. Certain proceeds will also be used at the Molo Mine in connection with Phase 2 expansion, working capital requirements as well as general and administrative expenses.

Finder fees were paid in relation to the Offering, consisting of CAD$61,266

The Shares will be subject to a hold period in Canada expiring four months and one day from the date hereof.

The Company has obtained conditional approval from the Toronto Stock Exchange (the ‘TSX’) for the listing of all Shares issued pursuant to the Offering. The Offering is subject to receipt of final approval from the TSX.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of Shares for sale in the United States. The Shares offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such Shares may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

Related Party Disclosure
The participation of Vision Blue in the Offering constitutes a ‘related party transaction’ pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘). The Company has determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of securities issued to Vision Blue, nor the consideration paid by Vision Blue exceeded 25 percent of the Company’s market capitalization. The Company did not file a material change report in respect of the transaction 21 days in advance of closing of the Offering because Vision Blue’s participation had not been confirmed. The shorter period was necessary in order to permit the Company to close the Offering in a timeframe consistent with usual market practice for transactions of this nature.

Early Warning Disclosure
Prior to the Offering, Vision Blue held an aggregate of 72,580,072 common shares of the Company (‘Common Shares‘), representing approximately 46.6% of the outstanding Common Shares on a non-diluted basis and approximately 46.6% on a partially diluted basis.

After giving effect to the closing of the Offering, Vision Blue owns and exercises control or direction over 88,162,372 Common Shares, zero Options and zero RSUs, representing approximately 48.0% of the outstanding Common Shares on a non-diluted basis and approximately 48.0% on a partially diluted basis.

Vision Blue is acquiring the Common Shares for investment purposes and intends to review its investment in NextSource on a continuing basis. Vision Blue may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction, over securities of NextSource through market transactions, private agreements, treasury issuances or otherwise. Vision Blue’s registered address is 1 Royal Plaza, Royal Avenue, St Peter Port, GY1 2HL, Guernsey.

For more information, or to obtain a copy of the subject early warning report, please contact: Aura Financial info@vision-blue.com

+44 207 321 0000

About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.

Investors: Brent Nykoliation Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com

Media: Michael Oke/Andy Mills +44 207 321 0000 nextsource@aura-financial.com

CAUTIONARY NOTE
This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, or ‘should’ occur. Forward-looking statements include any statements regarding, among others, the terms and conditions of the Offering, including final approval of the TSX in respect thereof; timing of on-site construction including the processing plant, process improvements and mine plant adjustments as well as production estimates and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.

View the original press release on accesswire.com

News Provided by ACCESSWIRE via QuoteMedia

This post appeared first on investingnews.com

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Top 5 Canadian Mining Stocks This Week: American Lithium Charges Up 78 Percent

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The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up 0.96 percent on the week to 595.59 by 12:00 p.m. EDT on Friday. Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 0.69 percent to 24,133.27 points.

The US Bureau of Labor Statistics released its Employment Situation Summary on Friday (October 4). It reported that September saw nonfarm payroll employment increase by 245,000, beating analysts’ estimates of an increase of 140,000 jobs.

Expected to remain flat month-over-month, the unemployment rate instead fell to 4.1 percent compared to 4.2 percent in August, still higher than the 3.8 percent recorded a year earlier. Meanwhile, average hourly earnings also beat expectations with a 0.4 percent month-over-month growth and a 4 percent growth versus the same period in 2023.

The latest jobs data could impact the US Federal Reserve policymakers’ decision at their next meeting on November 6 and 7, as a strong job market can lead to rising inflation. Industry analysts are now overwhelmingly predicting a 25 basis point cut over a 50 point one, a significant change from last week, when the predictions were close to 50/50 with the larger cut coming out on top.

Following the release, markets saw slight gains in morning trading. The S&P 500 (INDEXSP:INX) gained 0.35 percent to 5,719.36, the Nasdaq-100 (INDEXNASDAQ:NDX) was up 0.65 percent to 19,914.45 and the Dow Jones Industrial Average (INDEXDJX:.DJI) climbed 0.31 percent to reach 42,140.31 by 12 p.m. EDT.

Gold and silver experienced high volatility Friday, with gold dropping 0.27 percent to US$2,648.24 per ounce, and silver gaining 1.27 percent to hit US$32.37 per ounce as of 12 p.m. EDT. More broadly, the S&P GSCI (INDEXSP:SPGSCI) gained 0.73 percent to 559.61 points.

Against that backdrop, how did TSX- and TSXV-listed resource stocks perform? Here are the top five gainers.

1. Adyton Resources (TSXV:ADY)

Company Profile

Weekly gain: 60.87 percent
Market cap: C$39.32 million
Share price: C$0.185

Adyton Resources is working to advance the Feni Island and Fergusson Island gold projects in Papua New Guinea.

The Feni Island site has seen historic exploration, with 212 holes drilled over 18,813 meters. While limited work has been conducted by Adyton, a 2021 resource estimate shows an inferred quantity of 1.46 million ounces of gold on site. The company has been working to expand its gold resource and explore for copper at greater depths than previous exploration.

The company’s Fergusson Island gold project consists of two advanced exploration licenses for the Wapolu and Gameta targets, which host a combined indicated resource of 173,000 ounces of gold from 4 million metric tons (MT) grading 1.33 grams per MT (g/t), and an additional inferred resource of 540,000 ounces from 16.3 million MT grading 1.02 g/t.

The most recent news from Adyton came on Monday (September 30), when it announced it will be undertaking a non-brokered private placement. The company intends to issue up to 53 million common shares at a price of C$0.13 for proceeds up to C$6.89 million. Funds will primarily be used to advance work at Feni Island.

2. Q2 Metals (TSXV:QTWO)

Company Profile

Weekly gain: 50 percent
Market cap: C$133.14 million
Share price: C$1.11

Q2 Metals is a gold and lithium exploration company with operations in the Eeyou Istchee James Bay region of Québec, Canada, as well as in Queensland, Australia.

Its Mia lithium property in Québec consists of 171 mineral claims. Exploration at the site began in 2023, with surface mapping taking place in June and its inaugural drill program commencing in October. Six kilometers north of Mia, the company owns the Stellar lithium property, which consists of 77 claims covering 3,972 hectares.

In February 2024, Q2 acquired the Cisco lithium property, which consists of 222 mineral claims covering 11,374 hectares to the south of its other projects in the region. Since acquiring the property, the company has completed extensive exploration work with a 12 hole, 3,752.8 meter drill campaign carried out in the spring and an additional five hole, 2,610 meter campaign in the summer.

Shares in Q2 saw gains after the company released assay results on Tuesday from its spring exploration program at Cisco. In the announcement, the company provided a highlighted interval grading 1.69 percent lithium oxide over 215.6 meters, including an intersection of 2.29 percent lithium oxide over 64.6 meters.

Company Vice President Neil McCallum said of the results, “One important observation of these results is the higher-grade nature of the larger mineralized system as we test and track the system progressing to the south.”

3. NOA Lithium Brines (TSXV:NOAL)

Company Profile

Weekly gain: 50 percent
Market cap: C$26.13 million
Share price: C$0.195

NOA Lithium is a lithium exploration company working to advance three projects located within the lithium triangle area of the Salta province of Argentina: the 37,000 hectare Rio Grande project, the 78,000 hectare Arizaro project and the 10,200 hectare Salinas Grandes project.

Of the three projects, Rio Grande is the most advanced. NOA filed an NI 43-101 report in July 2024 that included an updated resource estimate for the site, with total measured and indicated resources of 499,000 MT of lithium with an additional inferred resource of 384,400 MT.

While the company hasn’t released news recently, it saw significant gains in its share price this week.

4. Jervois Global (TSXV:JRV)

Company Profile

Weekly gain: 50 percent
Market cap: C$32.67 million
Share price: C$0.015

Jervois Global is working to advance a global portfolio of nickel and cobalt projects. It owns the Idaho Cobalt Operations in the US, at which it suspended mine construction in 2023 due to low cobalt prices.

According to Jervois, the Idaho Cobalt Operations have the largest US cobalt resource. A 2020 feasibility study shows that they have a measured and indicated resource of 50.1 million pounds of cobalt from 5.24 million MT grading 0.44 percent, with inferred values of 12 million pounds of cobalt from 1.57 million MT grading 0.35 percent.

The company announced in June 2023 that it had entered into a US$15 million agreement through the US Department of Defense’s Defense Production Act for exploration activities at its property.

In its most recent announcement from the project, released on July 31, Jervois reported that extensional drilling at the Idaho Cobalt Operations had shown positive resource growth potential, with cobalt, gold and copper mineralization at depth. In the announcement, the company provides a highlighted result of 1.1 percent cobalt, 1.18 percent gold and 0.69 g/t gold over 1.8 meters.

Shares in Jervois Global saw gains this past week but the company did not release news.

5. P2 Gold (TSXV:PGLD)

Company Profile

Weekly gain: 46.15 percent
Market cap: C$13.1 million
Share price: C$0.095

P2 Gold is a gold exploration and development company working to advance projects in the US and Canada.

Its flagship Gabbs gold and copper project is located 233 kilometers from Reno, Nevada, and consists of 543 lode claims and one mining claim covering 4,500 hectares.

In a preliminary economic assessment for the project released on July 4, the company reported an after-tax net present value (NPV) of US$550 million and an internal rate of return of 21 percent with a payback period of 3 years based on a gold price of US$1,950 per ounce. However, the company noted that with a gold price of US$2,414 per ounce, the NPV increases to US$949.2 million.

Additionally, the report included mineral resource estimates for the site with indicated resources of 720,000 ounces of gold, 2.2 million ounces of silver and 297 million pounds of copper from 49.8 million MT, with additional inferred resources of 1.28 million ounces of gold, 3 million ounces of silver and 567.1 million pounds of copper from 112.2 million MT.

The most recent news from the company came on September 17 when it announced it had upsized and closed the final tranche of its non-brokered private placement to raise gross proceeds of US$1 million from the sale of 20 million shares. Proceeds will be used to fund exploration and development expenditures and general corporate purposes.

FAQs for Canadian Mining Stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Data for this 5 Top Canadian Mining Stocks article was retrieved at 12:00 p.m. EDT on October 4, 2024, using TradingView’s stock screener. Only companies trading on the TSX and TSXVwith market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

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Investing

Tech 5: AI Advances Win Nobel Prizes, Autonomous Tesla Falls Flat

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The Royal Swedish Academy of Sciences recognized advancements in artificial intelligence (AI) this week, handing out two prizes to researchers working in the field.

Meanwhile, Bitcoin’s price movements showed that the cryptocurrency is still heavily influenced by macroeconomic factors, and Tesla (NASDAQ:TSLA) finally gave investors a glimpse of its long-awaited full autonomous vehicle, leaving them unimpressed.

At OpenAI, financial projections reveal that profits are still a ways away.

1. AI takes home two Nobel Prizes

The Royal Swedish Academy of Sciences presented the annual Nobel prizes this week, bestowing two of the three prizes in science to researchers in artificial intelligence (AI).

On Tuesday, the Nobel Prize in physics was given to Canadian computer scientist Geoffrey Hinton and American physicist John Hopfield. Their research into neural networks laid the foundation to develop machine learning technology based on the way the human brain processes information.

Hopfield’s invention, a computer that works like a human brain, can store patterns and recall them even if given only partial information. Hinton’s research led him to create a way to help computers to discover patterns on their own, essentially allowing them to “learn” without being programmed.

On Wednesday, Sir Demis Hassabis, the CEO of Google DeepMind and Isomorphic Labs, and John Jumper, Director of Google DeepMind, were awarded the Noble Prize in chemistry for the development of AlphaFold 2, an AI model developed by the Alphabet (NASDAQ:GOOGL) subsidiary in 2020 to predict the three-dimensional structure of a protein.

A protein’s function is determined by its structure, which is an exceptionally difficult — and expensive — task for human researchers. In July 2021, AlphaFold 2 accurately predicted the structure of virtually all 200 million identified proteins, using only their amino acid sequences as input. This revolutionary technology has led to groundbreaking discoveries in science and medicine and has the potential to accelerate drug discovery and development.

It wasn’t all good news for Alphabet companies this week. On Monday, the judge ordered Google to overhaul its mobile app store, allowing Android users to purchase apps from alternative providers. Subsequently, on Wednesday, the US Department of Justice indicated it may seek a court order to force Google to separate its Chrome and Android businesses, following the ruling in its antitrust case against the tech giant on August 5. Shares of Google stock are down 2.65 percent for the week.

2. Tesla Cybercab unveiling falls flat

Tesla shares fell 8.78 percent on Friday afternoon after the electric vehicle maker unveiled its long-awaited fully autonomous model on Thursday evening. The Cybercab, a two-seater with no steering wheel or foot pedals, was presented an hour late at the company’s “We Robot” event at the Warner Brothers studio in Burbank.

During the presentation, Tesla’s CEO Elon Musk told the audience that the model would cost below US$30,000 and that the company “hoped” to begin production before 2027, but did not offer specific details as to where, how or when production would begin. Musk also revealed his company’s plans to produce a fully autonomous 20-passenger Robovan but gave no further details other than that both vehicles would charge wirelessly.

Musk also offered an update on the development of Tesla’s full-self driving (FSD) technology, which is set to roll out in China in 2025 but has faced regulatory hurdles in the US. Musk said he expects to install FSD in Model 3 and Model Y Teslas in Texas and California “next year,” but was unable to provide a set release date.

As of writing, Tesla is down 12.5 percent for the week and 12.33 percent year-to-date.

Tesla’s price movements for the week ending October 11.

Chart via Google Finance.

3. Samsung apologizes for disappointing quarterly projections

South Korean tech company Samsung (KRX:005930) posted its Q3 profit guidance on Tuesday, announcing that it expects operating profits to surge by 274 percent for the quarter to around 9.1 trillion Korean won, approximately US$6.74 billion. While this figure signifies impressive growth from the 2.43 trillion won in profits the company earned during Q3 2023, it missed LSEG expectations of 11.45 trillion won, resulting in a 1.47 percent decrease in share value on Tuesday morning.

Samsung’s vice chairman, Jun Young-hyun, issued an apology following the report’s release, translated here by CNBC. He citing the decline to “one-time costs and negative impacts” in the company’s memory division, including “inventory adjustments by mobile customers and increased supply of legacy products by Chinese memory companies.”

He went on to promise shareholders that Samsung’s leaders “will prepare for the future more thoroughly.” In a translated statement, Young-hyun said, “Samsung … has always turned crises into opportunities, having a history of challenge, innovation, and overcoming.

“We will definitely make the dire situation we are currently facing an opportunity for a leap forward.”

Shares of Samsung are down 3.26 percent for the week.

4. Profits are still years away for OpenAI

The Information reported on Wednesday that, despite OpenAI’s rapid growth, the company projects it will lose up to US$14 billion in 2026, with losses totaling US$44 billion between 2023 and 2028. According to documents the Information says it has seen first-hand, OpenAI plans to spend up to US$200 billion training new AI models by the end of the decade.

Under the terms of OpenAI’s most recent funding round, which raised US$6.6 billion and included contributions from venture capitalist firm Andreesseen-Horowitz, Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA), OpenAI was required to restructure its business model, handing control over to a for-profit arm. However, based on these projections, the company, which is now valued at US$157 billion, does not expect to become profitable until 2029. At that time, according to the Information, it hopes to achieve US$100 billion in revenue primarily driven by ChatGPT.

5. Bitcoin wobbles midweek but recovers

At the start of the week, Bitcoin’s price fluctuated around US$63,000, influenced heavily by China’s failure to provide a detailed stimulus plan, while meme coins rallied. On Monday, Ether ETFs experienced zero flows in or out for the second time since their inception, while Bitcoin ETFs saw their highest inflows since September 27 that day.

Bitcoin’s price decreased through Wednesday ahead of Thursday’s consumer price index (CPI) data release, and plunged in the hour following the release. This sent it below US$60,000 for the first time in October, a historically bullish month.

The data showed that the CPI rose 0.2 percent from last month and just 2.4 percent year-over-year, its smallest annual rise since inflation first began surging in February 2021.

Bitcoin began trending upwards after the drop, and briefly moved back above US$63,000 Friday afternoon.

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

This post appeared first on investingnews.com

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Editor's Pick

What Kate’s surprise visit says about her recovery

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Catherine, Princess of Wales delighted royal-watchers this week with an unexpected appearance alongside her husband, Prince William.

The couple popped up in Southport, a town in the northwest of England, on Thursday, where the community is still grieving after the murders of three young girls this summer.

William and Kate are thought to have spent around 90 minutes with the families of Bebe King, 6, Elsie Dot Stancombe, 7, and Alice da Silva Aguiar, 9, who lost their lives in July when they were attacked while attending a Taylor Swift-themed dance class.

It was also an opportunity for the pair to sit down with some of the emergency services personnel who responded to the scene and hear about their experiences and the mental health support they have received in the months since.

It was an emotional conversation that saw the princess express the couple’s gratitude to the first responders, before comforting and hugging some of those grappling with the traumatic impact of the incident.

“The Princess of Wales broke off and came back into the building to give a hug to the people who responded because she could see the emotion in them and could see it was difficult for them to relay their feelings and to say how impactful events have been,” Phil Garrigan, chief fire officer for Merseyside Fire and Rescue Service, explained after the engagement, according to the UK’s PA Media news agency.

“I think that just shows a really caring side and is very, very touching for them.”

It was a big moment for the popular 42-year-old royal – her first public outing since wrapping up her chemotherapy treatment.

But wanting to be there and carrying out the engagement are two very different things. Ultimately, her appearance came down to whether she felt well enough on the day.

King Charles previously visited the area in August and it’s clear that the royal family don’t want the town to feel forgotten as the weeks and months pass.

The Southport engagement was designed to be a low-key event and, in fact, had not been previously announced either to the public or the press. However, it quietly supported the princess’ own words from a month ago when she revealed she had completed her cancer treatment.

In a video message, Kate had thrilled royal fans by saying she was “looking forward to being back at work and undertaking a few more public engagements in the coming months when I can.”

Since then, she’s undertaken private meetings on some of her projects at Windsor Castle and carried out a few private visits. It all signals that her recovery is going well.

While aides would not want to jeopardize her recovery by pushing her to appear before she’s ready, the Princess of Wales’ latest appearance shows that she’s back at work, steadily increasing her workload while she continues to get stronger.

This all means she’s likely to keep her workload lighter and that we’ll continue to see these unexpected pop-ups as she makes daily decisions on engagements on a case-by-case basis. And if all continues well, it could mean she takes on more in the new year and perhaps, even, starts traveling again.

This post appeared first on cnn.com

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