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October 30, 2024

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Cruise Or Soar? Carnival, Delta, and United Hit New Highs—Which One’s Your Best Bet?

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One of several effective StockCharts tools you can use to spot potential trading or investing opportunities is to check the New Highs panel in Your Dashboard. This feature highlights stocks hitting new highs—from one-month peaks to 52-week or all-time records—giving you a peek at where Wall Street’s capital may be flowing.

On Monday morning, the one-month new high list top 10 gave us three transportation stocks: Carnival Corp (CCL), Delta Air Lines (DAL), and United Airlines (UAL). As you can see below, Carnival, under the Consumer Discretionary sector, occupies the top spot.

FIGURE 1: NEW HIGHS FOR MONDAY, OCTOBER 28, 2024. We got a ship and two airlines. Which one, if any, might be more tradable or investment-worthy from a technical perspective?Image source: StockCharts.com. For educational purposes.

If the transportation industry seems like a suitable prospect for your portfolio, one of the first things you’ll want to do is compare the charts and drill down on the technicals. Let’s start with a PerfCharts view for a quick 200-day comparison of all three stocks.

FIGURE 2. PERFCHARTS OF CARNIVAL CORP, DELTA AIR LINES, AND UNITED AIRLINES STOCK. United Airlines took off and is now sky-high, with Delta following below while Carnival’s at the bottom with its tide rising.Chart source: StockCharts.com. For educational purposes.

With UAL clearly outpacing the other two, it makes you wonder whether the airline has enough fuel to gain more altitude or whether its trajectory is a little too vertical. Carnival, on the other hand, is the underperformer. But does that mean it has more upside to cover, and are we witnessing the beginning of a much larger uptrend?

Note: We’ll look at weekly charts because this time frame provides the clearest key levels for each stock.

Let’s start with a weekly chart of CCL.

FIGURE 3. WEEKLY CHART OF CARNIVAL CORP STOCK. Note the multiple levels of resistance overhead.Chart source: StockCharts.com. For educational purposes.

A couple of things to note:

  • CCL’s StockChartsTechnicalRank (SCTR) score has hit or crossed the bullish 90 mark several times in the past four years, but it hasn’t stayed there for long. Each time it peaks, the score drops within a few months, signaling that the stock struggles to maintain technical strength for extended periods.
  • CCL has four resistance levels up ahead, marked by the dotted magenta lines. If you happen to be long the stock, expect heavier profit-taking and selling pressure at each consecutive resistance level all the way up to $31.
  • The stock has broken out of a long-term ascending triangle pattern, which is generally bullish. However, according to the On Balance Volume (OBV), the buying/selling momentum is narrowing as prices rise, signaling not only an intensified state of indecision but also a divergence between price and momentum.

At this point, it’s a wait-and-see, and if price pulls back, keep an eye on the top of the triangle pattern near $19.75 to see if price bounces and what the momentum looks like at that point, specifically on a daily chart. I’m not zooming into the daily chart because the key levels it will give are similar to what you can see on the weekly.

So, how might Carnival Corp. stock perform technically against UAL, which, in the PerfCharts, is outperforming CCL and DAL? Let’s take a look at UAL’s weekly chart.

FIGURE 4. WEEKLY CHART OF UNITED AIRLINES STOCK PRICE. UAL stock’s price action is similar to CCL’s, but the OBV has reversed its downward slope and is rising.Chart source: StockCharts.com. For educational purposes.

Like CCL in the previous example, UAL’s technical strength, as measured by the SCTR line, also rises above the extremely bullish 90 line, but seems to never sustain that level for too long. However, in contrast to CCL, the buying pressure driving UAL’s valuations, as measured by the OBV, reversed its downward slope and is now rising. Watch out for the Money Flow Index (MFI), which is flashing an overbought signal, indicating a near-term pullback.

Now look at Delta Airlines (DAL), the middle performer on the PerfCharts comparison. Below is the weekly chart.

FIGURE 5. WEEKLY CHART OF DELTA STOCK. The price chart displays deep swing highs and lows in contrast to CCL and UAL.Chart source: StockCharts.com. For educational purposes.

The approach to DAL will be slightly different, primarily because the stock’s main patterns are driven by swings that are much deeper and more pronounced than those in the other examples.

Note the SCTR line; as price claws its way higher, its overall technical strength, as measured by multiple indicators across several timeframes, failed to reach previous levels above the 90 line. In addition, look at the panels below the chart—the OBV and MFI readings, which both exhibit a bearish divergence in buying pressure. This signals dwindling momentum as DAL’s price establishes a three-year high.

Looking at the chart, note the ZigZag line. This marks the swing high and swing low levels that must hold for the current uptrend to remain intact: while DAL broke above the swing high of $54, signaling a continuation of the uptrend, it must also stay above the swing low of $37 for the uptrend to remain intact.

To that end, I drew a Quadrant Line to measure the strength of the potential upcoming pullback, as suggested by the momentum indicators. For the bulls, a DAL pullback should stay above the last quadrant (above $41) for DAL’s technical strength to remain convincingly bullish.

Add these charts to your ChartLists and monitor their movements in the coming weeks.

Summary in a Nutshell

Each stock presents a longer-term play.

Carnival Corp (CCL)

  • Opportunity: Broke out of a bullish ascending triangle pattern, hinting at potential upside.
  • Risk: Multiple resistance levels ahead; narrowing momentum signals indecision, with heavy selling likely near $31.

United Airlines (UAL)

  • Opportunity: Strong recent performance, with rising buying pressure and outperformance compared to peers.
  • Risk: Overbought Money Flow Index (MFI) suggests a near-term pullback might be imminent.

Delta Airlines (DAL)

  • Opportunity: Currently in an uptrend, breaking past key swing levels.
  • Risk: Dwindling momentum, with bearish divergences in OBV and MFI. The stock must hold above key levels ($41) to maintain bullish strength.

At the Close

You will have to decide for yourself which among the three might be the stronger stock to invest in when the time comes. Again, these are longer-term plays, but if played well, they may present strong investment opportunities. Keep an eye on momentum and key price patterns that could shift.

Bottom line: Add them to your ChartLists and be ready for the next opportunity.

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.

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Historical Gold Mineralisation identified at Flicka Lake

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Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to report the completion of a detailed desktop review of historical exploration at Flicka Lake, part of the Company’s 100%-owned Fry Lake Gold Project in Canada. The review identified three gold bearing parallel quartz veins, validated by Troon Ventures Ltd using channel and grab samples taken from mineralised quartz zones exposed in trenches.

HIGHLIGHTS

  • Recently completed desktop study has identified three parallel quartz veins, which have been targeted with grab rock samples at Flicka Lake Project in Canada
  • Historical exploration identified gold bearing channel samples including 9.96 g/t Au and 12.96 g/t Au
  • Previously reported grab samples included 17.88 g/t, 7.38 g/t and 20.07 g/t of Au
  • Flicka Lake Gold Sampling Program Assay Results expected to be received shortly

While gold mineralisation has shown to be historically reported in the area, reportable validation sampling was completed in 2002 and 2006. Previous exploration targeted the Flicka Lake area based on the proximity to the Golden Patricia Mine located 25 km to the Northeast, where a shear hosted quartz vein averaging less than 40cm in width had been mined. The review identified the following results.

Grab sampling:

  • At Vein #1, reported up to 17.88 g/t Au
  • At Vein # 2, reported up to 7.38 g/t Au
  • The best exposed zone, Vein #3 reported the highest assay result of 20.07 g/t Au

Channel samples:

  • At Vein #2, reported up to 12.96 g/t Au
  • At Vein #3, reported up to 9.96 g/t Au

The occurrence at Flicka Lake consists of 3 gold-bearing structures of limited extent hosted by gabbroic rocks that strike perpendicular to the main shear zones in the area and dip 55° to 65° to the east. The veins pinch and swell (up to 30 cm wide) and are hosted in discrete, highly strained, carbonate-actinolite-tourmaline arsenopyrite altered zones (~1.5 m wide). Refer to Figure 1 and Table 1.

RMX acquired the Flicka Lake claim, 855170, over the mineralised veins and has since undertaken due diligence with 11 rock and 11 soil samples collected within the claim boundary, Map 2.

RMX has since completed its maiden sampling program at Flicka Lake, part of the Fry Lake Gold Project in Ontario, Canada. Results are expected shortly for 283 soil and 91 rock chip samples over its Flicka Lake claims which included due diligence sampling at the Flicka Lake gold bearing quartz veins as well comprehensive sampling over the claim area’s structural and geophysical targets (Figure 2 & Tables 2/3). The review has identified additional key target zones for anomalous copper towards the Northern portion of Flicka Lake. The Lab analysis, of which results are due to be received shortly, includes a gold and base metals suite also attempting to define areas for copper mineralisation.

Background

The Flicka Lake claims lie within the Meen-Dempster Greenstone Belt and is one of four recently acquired claim packages (Figure 3) considered prospective for gold. The four 100% RMX owned properties, named Flicka Lake, Fry Lake Stock, Fry-McVean Shear and Relyea Porphyry or collectively the Fry Lake Projects, hold potential to host gold lode mineralisation based on targeting and the known deposits in the broader area. The Fry Lake Projects are located in the Uchi region, a prolific mineral belt which has produced 32Moz Au to date1.

Click here for the full ASX Release

This post appeared first on investingnews.com

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Reconaissance Sampling Highlights Potential for Rare Earths and Scandium at Radium Hill

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Heavy Rare Earths Limited (“HRE” or “the Company”) announces assay results from initial reference sampling at its Radium Hill project in South Australia. The Company recently announced it had acquired an 80% initial interest in the uranium rights on three projects from Havilah Resources Limited (Figure 1) (refer to ASX announcement 21 October 2024). These rights extend to rare earths (REE) and scandium (Sc) at Radium Hill.

  • Assays of uranium mineralization from Radium Hill return highly elevated rare earths (up to 3.6% TREO) and scandium (up to 1081 ppm Sc2O3)
  • HRE recently announced the acquisition of an 80% initial interest in uranium rights on a highly significant land package in South Australia’s Curnamona Province, including the Radium Hill Project
  • These mineral rights extend to rare earths and scandium at Radium Hill
  • Rare earths were first recognised at Radium Hill in 1908
  • Academic studies of Radium Hill mineralization have recorded values of up to 7% REE12 and 3000 ppm Sc3
  • 2.6 million lbs @ 0.12% (1,200 ppm) U3O8 was mined at Radium Hill between 1954 and 1961

Samples were analysed to test the potential for REE and Sc in uraniferous Radium Hill lode- style mineralization. These lodes are known to extend from the historic Radium Hill mine for at least 7 kilometres in a northeast direction to Bonython Hill (Figure 2). A total of five samples were collected from historic dumps, both within the historic Radium Hill Mine site, which is excluded from HRE’s Radium Hill project, and from lode extensions which are in the project area.

Mining at Radium Hill first occurred in 1908 with the main phase of mining taking place between 1954-1961. Although the main focus of mining was on production of uranium, the presence of significant quantities of rare earths have been known from the earliest stages.

Soon after discovery of Radium Hill in 1906, the famous geologist, Antarctic explorer and academic Sir Douglas Mawson, described a previously unknown uranium mineral which he named ‘davidite’ and noted the new mineral contains “a notable amount of rare earths, uranium, vanadium, and chromium”.4

During the main mining phase when 2.6 million lbs of U3O8 were mined, there was no attempt to extract rare earths or other metals until the last stages of the operation when a solvent extraction plant was constructed on the site by AMDEL (1960‐62). This plant produced mainly scandium with some yttrium oxide (Y2O3) and other rare earth oxides although production figures are unclear and ore assays unavailable.

Of the five samples in the current program, three (samples RH-1, RH-2, RH-C) were collected from ore dumps adjacent to the historic Radium Hill processing plant, one (RH-B) from a dump adjacent to a historic shaft at Radium Hill North and another (RH-A) from a stockpile at Bristowe’s prospect. Sampling was designed to confirm historic reports of rare earths, scandium and other elements in Radium Hill-style uraniferous lode mineralization.

Assay results returned significant values for all five samples (Table 1).

In addition to uranium, it is apparent there are high concentrations of scandium and rare earths in these davidite-bearing samples which confirms the historic observations. The Company emphasises that these samples were collected and assayed for the purpose of checking the concentrations of metals associated with uranium in order to ascertain the validity of previous scant literature reports. These sample results are not purported to be representative of the mineralization in the region, which would require systematic sampling, including drilling and/or costeaning, to reach any firm conclusions. However, the associated metal results are sufficiently encouraging to warrant detailed follow up and inclusion in the Project’s future assay protocols and metallurgical treatment considerations.

Click here for the full ASX Release

This post appeared first on investingnews.com

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NDP Squeaks Out Victory in Tight BC Race, What it Means for Mining

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Although the final ballot was cast on October 19, BC’s 43rd provincial election was so close in several ridings that a tally of 22,000 absentee ballots was needed to decide the winner.

With 47 seats required in provincial parliament to form government, incumbent David Eby and the New Democratic Party (NDP) narrowly took control. The Conservative Party won 44 seats, and the Green Party holds two seats.

While Conservative Party leader John Rustad has conceded and Eby has claimed victory, a judicial recount is planned for Surrey-Guildford and Kelowna Center, two ridings with very close tallies.

‘Today, I met with Lieutenant Governor Janet Austin. She has asked me to form the next government. We will, and we will work hard every day to earn the trust you have placed in us,” wrote Eby.

‘People want their elected representatives to deliver results,’ he continued. ‘With renewed determination, we will build on the progress we’ve made to reduce daily costs like car insurance and childcare, hire thousands of health care workers and get you a family doctor, deliver homes you can afford, and make sure our economy works for everyone — not just those at the top. There is so much more work to do to lighten the load for people.’

What does BC’s election mean for the mining industry?

In late September, the NDP and the Conservative Party shared their proposed plans for the province’s mining sector, presenting contrasting visions for resource development in the region.

The NDP platform focuses on expanding BC’s critical minerals sector with streamlined permits, a Critical Minerals Office, clean energy infrastructure and strong Indigenous partnerships to ensure sustainable, community-oriented growth.

Meanwhile, Rustad’s Conservatives criticized the NDP’s ‘excessive red tape’ and lack of rural investment, proposing instead to reduce regulatory barriers, accelerate permitting and invest in infrastructure.

The plans to revise permitting measures drew ire from the province’s Indigenous community, particularly the Conservative Party’s plans to “repeal the Declaration on the Rights of Indigenous Peoples Act (DRIPA)”.

In a statement released in early October, the Tŝilhqot’in National Government denounced the Conservative Party’s proposed plans, citing potential threats to the environment in BC.

“The path that the BC Conservatives has outlined for British Columbia is a path of conflict on the land and in the courts. DRIPA is an essential framework to hold B.C. to international laws and standards, to implement the human rights of Indigenous peoples in B.C., and to resolve long-standing conflicts in this Province based on recognition and respect, in a manner that benefits all British Columbians,” the document reads.

The Tŝilhqot’in National Government represents the Tŝilhqot’in people, a nation of six communities across Tŝilhqot’in (Chilcotin) territory in BC. The Tŝilhqot’in hold a unique legal status in Canada as the only nation with a court-recognized Aboriginal title, established through the landmark Tsilhqot’in Nation vs. BC case.

“The BC Conservative platform also seeks to streamline resource project permitting, favoring efficiency and simplicity over meaningful engagement and environmental oversight,” the release further explains, also noting that Indigenous communities stand to face the most impact from resource extraction and potential fast tracking.

In recent years, Indigenous communities in BC have raised significant concerns over mining regulations that allow companies to stake mineral claims on traditional territories without prior consultation or consent.

Historically, under BC’s Mineral Tenure Act, companies could stake claims for minimal fees, often online with no notification to First Nations. This has led to a proliferation of claims in Indigenous lands, impacting environmental stewardship and cultural sites.

Communities like the Gitxaała Nation have challenged these practices in court, seeking stronger rights over land use decisions. In a 2023 case, the Supreme Court of BC ruled that the government must consult with First Nations before approving mineral claims, a decision that marks a step forward, but falls short of the full consent many Indigenous groups have advocated for under the UN Declaration on the Rights of Indigenous Peoples.

Despite the ruling, the court did not halt existing claims.

While BC’s Indigenous communities await more land use oversight and clarity, the United Steelworkers Union issued a statement on Monday (October 28) supporting both leading parties.

‘Both the NDP and Conservatives promised more-efficient permitting in the sector, investments in rural infrastructure, working with First Nations and building BC as a critical mineral hub,” wrote Scott Lunny, director for the United Steelworkers District 3. He also tipped his hat at the NDP’s resource platform.

“It looks like a coalition in the making. Although, since the NDP also promised to ‘maintain environmental and safety standards’ and create new ‘union-led training programs to help workers keep pace with the changing nature of mining,’ they get a couple of extra check marks on my scorecard,” he added.

A 2024 report from the Mining Association of BC pegs the value of 16 development-stage critical minerals mines in the province at C$24.8 billion over an average mine life span of 24.1 years.

Investing in critical minerals is seen as an essential step for BC as the move will leverage the province’s advantages across the supply chain, including recycling electric vehicle batteries at facilities like Teck Resources’ (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) Trail smelter in Southern BC.

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

This post appeared first on investingnews.com

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Horizon and Poseidon Merging to Fast-Track the Creation of a New WA Mid-Cap Gold Producer

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Horizon Minerals Limited (ASX: HRZ) (Horizon) and Poseidon Nickel Limited (ASX: POS) (Poseidon) have entered into a scheme implementation deed (Scheme Implementation Deed) pursuant to which they have agreed to a merger to be conducted by way of Schemes of Arrangement under the Corporations Act 2001 (Cth) (Corporations Act), whereby Horizon will acquire 100% of the fully paid ordinary shares in Poseidon (Poseidon Shares) and 100% of the unlisted Poseidon options under the code POSAAB, subject to the satisfaction of various conditions.

In addition, Horizon has received firm commitments for a placement to raise $14 million to support the expanded business.

HIGHLIGHTS

Logical consolidation of complementary assets in the Western Australian Goldfields

  • The proposed transaction will consolidate Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts.
  • The combination provides a pathway for sustainable, long-term gold production and cashflow as an independent mid-cap producer. 1,2,3

Substantial resource base and regional tenure

  • Combined JORC Mineral Resources of ~1.8Moz gold at an average grade of 1.84g/t Au and 422,700t nickel at an average grade of 1% Ni.
  • Combined tenure of 1,309km2 in an attractive geological position in the WA Goldfields.
  • A strong pipeline of production sources, Mineral Resource growth opportunities, advanced brownfield exploration targets and greenfield exploration opportunities.1,2,3

Aligned strategy of using Poseidon’s Black Swan infrastructure to fast-track gold production

  • Refurbishment of the front end of the Black Swan processing plant and conversion of the back end to facilitate gold production presents a significantly faster, lower capital pathway to gold production compared to building a new gold processing plant in the region.
  • Horizon’s 465koz Burbanks and 428koz Boorara gold deposits form the cornerstone assets in a project pipeline aiming to deliver a 5-year mine plan to fill the Black Swan processing plant.
  • Conversion of the Black Swan processing plant to a gold plant with throughput optionality will unlock latent value in Horizon’s portfolio and open up the region for toll milling and further consolidation.4

Shared focus and ambition to become the next mid-tier gold producer

  • Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion & recommissioning of the Black Swan processing plant.

Strategically positioned and permitted infrastructure

  • In addition to the combined entity’s Kalgoorlie-Coolgardie gold assets, Lake Johnston and Windarra present highly strategic assets that have the ability to deliver further shareholder value.
  • Situated in the southern Goldfields, the permitted Lake Johnston 1.5Mtpa processing plant and associated infrastructure presents an opportunity to develop a lithium processing hub in this emerging lithium province.
  • Located in Laverton, Windarra’s water resource and gold tailings present highly strategic assets

Potential for re-rating based on enhanced scale and market relevance

  • Enhanced trading liquidity and scale to drive increased market relevance, grow investor appeal and improved access to capital.
  • Lower combined corporate overheads to enable greater focus on asset investment.

OVERVIEW

Pursuant to the terms of the Scheme Implementation Deed:

  • each Poseidon shareholder will receive 0.1156 Horizon shares for every 1 Poseidon Share held (the Share Scheme);
  • each holder of Poseidon options (other than a POS Incentive Option5 – see below) (Poseidon Options) will receive 0.1156 new Horizon options for every 1 Poseidon Option held (the Option Scheme and, together with the Share Scheme, the Schemes); and
  • Poseidon, Horizon and each holder of POS Incentive Options will enter into a deed under which all of the relevant POS Incentive Options will be cancelled (or transferred to Horizon or its nominee) for cash consideration, with effect from the Implementation Date and conditional on the Scheme becoming effective (POS Incentive Option Deed). The POS Incentive Options are not subject to the Option Scheme.

The exchange ratio under the Share Scheme was based on a 40% premium to the 30-day volume weighted average price (VWAP) of $0.0042 per Poseidon share for the period up to 22 October 2024 that is $0.006. Based on the last trading price of Poseidon shares as at 22 October 2024, which was $0.006 and represents a 0% premium to the last traded price.

Following implementation of the Schemes, Horizon shareholders will own 69.8% of the Combined Group (defined below) while Poseidon shareholders will own the remaining 30.2%.

The Schemes are unanimously recommended by the POS Independent Board.6 Each member of the POS Independent Board intends to vote all Poseidon Shares they control in favour of the Share Scheme and all Poseidon Options they control in favour of the Option Scheme, subject to no Superior Proposal7 emerging and the Independent Expert concluding (and continuing to conclude) that the Schemes are in the best interests of Poseidon shareholders and holders of Poseidon Options, respectively.

Under the proposed transaction the combined group will have a global JORC Mineral Resource of ~1.8Moz of gold and ~422.7kt of nickel, as well as 1,309km2 of attractive exploration tenure and two strategically located processing facilities in Black Swan and Lake Johnston.

The Black Swan processing plant has a 2.2Mtpa nickel sulphide concentrator and associated infrastructure and is ideally located as a central processing hub for Horizon’s gold projects as well as for regional toll treatment opportunities. The Black Swan concentrator will also unlock value for Horizon’s high-grade Nimbus silver, zinc and gold project which contains 20.2Moz of silver, 78koz gold and 104kt of zinc.

The proposed transaction brings together complementary assets. A Feasibility Study on the refurbishment and conversion of the Black Swan processing plant to gold production from Horizon’s large baseload and satellite gold deposits will be undertaken. The Feasibility Study is expected to be completed in the second half of 2025 with first gold production from Black Swan currently targeted for mid-2026.

The conversion of the Black Swan processing plant for gold processing would utilise the existing crushing and grinding circuit and likely involve the addition of a carbon in leach (CIL) circuit, elution plant and gold room. The Black Swan plant is currently on care and maintenance and will require some refurbishment. Horizon’s Feasibility Study will provide an up-to-date estimate of the cost of completing this work.

The combined group of Horizon and Poseidon (the Combined Group) will be pursuing its growth strategy from a position of greater market scale, underpinned by an estimated pro-forma cash and listed investments balance of ~$19 million (inclusive of the Placement) and lower consolidated cost base. Following implementation of the Schemes, Poseidon will be delisted from the ASX and become a subsidiary of Horizon, and the Combined Group will continue to trade as Horizon Minerals Ltd under the ticker ASX: HRZ.

Completion of the Schemes is targeted for late January / early February 2025. The Schemes remain subject to various customary closing conditions, including the approval of Poseidon shareholders, holders of Poseidon Options, and the Court, which are summarised below.

Commenting on the proposed merger, Horizon Managing Director Mr Grant Haywood said:

“We believe this proposed merger represents a unique opportunity to unlock the value of our significant gold resource in the WA Goldfields and leverage strategically located processing infrastructure.

This really is a logical consolidation of complementary assets, delivering a near term and cost- effective processing pathway and creates greater potential for both sets of shareholders to create value from the cashflow generation potential of a long project pipeline and wholly owned processing infrastructure.

Outside gold, the merged nickel and silver assets enhances the respective asset values of both parties and retains full exposure for the combined shareholder group to crystalise value in any future sustained price upturn for these commodities.”

Poseidon Nickel CEO Mr Brendan Shalders commented:

“The Schemes announced today are a pivotal step towards establishing a significant gold business and provides Poseidon shareholders and holders of Poseidon Options with an exciting opportunity to become part of an emerging gold producer at a time when the gold price is at all-time highs.

“There is strong alignment between Poseidon’s strategy and that of Horizon, which is one of the core pillars underpinning this regional consolidation. Together we have greater capability to deliver on longer term cashflow generation from cornerstone operations fitting for an emerging mid-tier gold producer.”

Click here for the Horizon & Poseidon Merger Presentation

Click here for the full ASX Release

This post appeared first on investingnews.com

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Red Metal Resources Executes Definitive Agreement to Acquire 100% Interest in Mineral Claims Package in Ville Marie, Quebec, Contiguous to Recent Hydrogen Discovery

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Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) (‘Red Metal’ or the ‘Company’) is pleased to announce that it has completed due diligence and executed a Definitive Agreement (the ‘Agreement’) with an arm’s length vendor to acquire a 100% interest in three separate packages of mineral claims and mineral claim applications directly contiguous to Quebec Innovative Materials Corp.’s (‘QIMC’) recent Hydrogen sample discovery of over 1,000 ppm, announced on September 4th 2024. These mineral claim blocks are located within the Timiscaming Graben formation approximately 15 km north of the town of Ville Marie, Quebec, located between two major mining cities and is accessible by road (Route 101).

This news release may contain information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

Red Metal Resources President and CEO, Caitlin Jeffs stated,‘We have finalized our acquisition of these prospective mineral claims and are actively evaluating additional acquisitions in the area. Red Metal is actively planning an initial comprehensive exploration program directly next to QIMC’s recent hydrogen discovery. This new property represents an exciting opportunity to expand our clean energy portfolio as we continue to advance our Carrizal Copper/Gold property in Cordillera, Chile.’

Red Metal Resources is planning an initial exploration program that could include but not limited to:

  • Artificial Intelligence and target mapping algorithms which utilize known hydrogen occurrences to outline target areas having a similar spectral response to QIMC’s hydrogen occurrences.

  • Gas sampling from the soil and underwater surveys in Timiskaming Lake. These surveys can be used to locate degassing zones associated with faults in the Timiskaming rift.

  • Gravimetry and audiomagnetotellurism (AMT) geophysics to assess variations in the thickness of local sedimentary rock deposits (gravity troughs) over the Archean basement. AMT data will assist in locating graben-related faults in the St-Bruno-de-Guigue area that are covered by quaternary sediments.

  • Regional remote sensing gas surveys to identify specific targets to provide useful remote sensing data for hydrogen and helium exploration.

  • Fieldwork can be carried out mainly in the Municipality of St-Bruno-de-Guigues sector.

The Company is currently reviewing regional geologic data to assist in the evaluation of potential additional acquisitions in the immediate area as well as the formulation of an initial exploration plan with further details to be provided in due course.

Figure 1. Claims Area Map (RMES Outlined in Red)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4932/228314_2c98c6fd24ea6967_001full.jpg

These claim blocks consist of three separate packages, covering 19 cells and totaling over 1,100 hectares to the North, Northeast and the Southwest of QIMC’s Hydrogen-in-soil sample discovery. These claim blocks are contiguous on three sides to Quebec Innovative Materials Corp. and cover possible extensions in multiple directions. To date, 11 of the 19 cells have been approved by the Quebec Ministry of Natural Resources and Forests.

Terms of the Agreement

Under the terms of the Agreement to acquire a 100% interest in 19 mineral claims, Company has agreed to pay $5,000 plus GST (Goods and Services Tax) and issue up to 1.6 million common shares of the Company. To date, 11 of 19 claim applications have been approved by the Quebec Ministry of Natural Resources and Forests and the Company will issue 1,100,000 shares upon closing of the acquisition of 11 approved claims. The balance of 500,000 shares reserved to be issued once the remaining eight claim applications are approved. No royalty is to be paid out of any potential future revenue. The Company’s acquisition of the Property remains subject to customary conditions of closing, including the Company completing due diligence to its satisfaction and the approval of the Canadian Securities Exchange (if required), and is expected to complete shortly. The common shares issuable in connection with the Agreement will be subject to a four month hold period under applicable Canadian securities laws.

Figure 2. Claim Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4932/228314_2c98c6fd24ea6967_002full.jpg

Market Maker

In addition, Red Metal is pleased to announce that the Company has retained Venture Liquidity Providers Inc. (‘VLP’) to initiate its market-making service to assist in maintaining an orderly trading market for the Company’s common shares. The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the policies of the CSE and other applicable laws.

In consideration for the services provided by VLP, the Company has agreed to pay VLP $5,000 per month, commencing on November 1, 2024, for an initial term of three months. Following the initial term, the agreement will renew for successive one-month terms, provided that after the initial three-month term the agreement may be terminated by either party at any time. The Company and VLP are at arm’s length and VLP has no present interest, direct or indirect, in the Company or its securities. The finances and the shares required for the market-making service are to be provided by W.D. Latimer. The fee paid by the Company to VLP is for services only and there are no performance factors contained in the agreement. VLP will not receive shares or options as compensation.

VLP is a specialized consulting firm based in Toronto providing a variety of services focused on CSE listed issuers. VLP’s CEO, JC Cunningham, can be reached by telephone at (416) 891-4349 or by email at info@vlpinc.net.

About Red Metal Resources Ltd.

Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company’s current portfolio include the 100% owned Ville Marie claims in Quebec, Canada as well as Company’s Chilean projects which are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile’s coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.

For more information, visit www.redmetalresources.com.

Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com

Forward-Looking Statements – All statements in this press release, other than statements of historical fact, are ‘forward-looking information’ within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal’s public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228314

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Super Typhoon Kong-rey edges towards Taiwan, could sweep ‘almost the whole’ island

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Authorities in Taiwan are warning residents along its eastern coast to brace for the impacts Super Typhoon Kong-rey, which has rapidly intensified as it barrels towards the island after bashing the Philippines.

Kong-rey, moving northwest over the Philippine Sea, reached super-typhoon strength on Wednesday, according to the Joint Typhoon Warning Center (JTWC). With winds of 240 kilometers per hour (150 miles per hour), it is the equivalent of a Category 4 Atlantic hurricane.

The powerful typhoon is forecast to make landfall early Thursday (Wednesday evening ET) in Taitung, a sparsely populated county on Taiwan’s mountainous southeastern coast.

“As the typhoon continues to move towards the northwest, almost the whole of Taiwan will be covered by the storm circle later tonight,” meteorologist Chu Mei-lin, with the island’s weather agency, said in a press conference on Wednesday morning.

The Central Weather Administration (CWA) issued a sea warning Tuesday as the storm drew closer. On Wednesday, it also issued a land warning for two southern counties expected to be hit by the storm’s outer bands.

Forecasts show the powerful storm could weaken slightly ahead of making direct landfall on its southeastern coast, but it is still expected to unleash intense downpours, bringing flash flooding, storm surges and the risk of landslides.

“We urge everyone to make preparations accordingly,” Chu warned.

Chu added that waves could reach up to eight meters high when the typhoon makes landfall. There will also be heavy rainfall across Taiwan on Thursday, including in Taipei.

Taiwan’s military has placed about 36,000 soldiers on standby to assist with rescue and relief work, according to its Ministry of National Defense.

More than 6,000 first responders have also been put on standby to assist in response to the typhoon, according to the Central Emergency Operations Center. Most flights and ferries across Taiwan are so far operating as usual, the center said on Wednesday.

Taiwan generally has a strong track record of responding to major typhoons, though remote villages in more mountainous regions can be particularly vulnerable to landslides. Earlier this month, Typhoon Krathon killed four people as it brought particularly heavy rains to the south of the island.

Two outlying islands of Taiwan, Green Island and Orchid Island, suspended work and classes on Wednesday, according the county government.

In recent days, northern parts of the Philippines’ main island of Luzon have been lashed by the outer bands of Kong-rey, known locally as Leon, as authorities ordered evacuations and warned of its impacts after already seeing devastation last week from Tropical Storm Trami, known as Kristine, which killed at least 130 people.

As of Wednesday morning, Kong-rey continued to skirt the island’s north as it moved towards Taiwan.

This post appeared first on cnn.com

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Police say ‘no nuclear risk’ after huge fire breaks out in vicinity of UK submarine shipyard

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A large fire has broken out at the site of one of Britain’s biggest defense companies.

Emergency officials said early Wednesday that fire crews and police were responding to the blaze in the vicinity of BAE Systems in Barrow-in-Furness, northwest England.

BAE Systems is one of the largest defense contractors in Europe. Its subsidiary, BAE Systems Submarines, headquartered in Barrow-in-Furness, builds and assembles the UK’s nuclear submarines.

“There is no nuclear risk,” Cumbria Police said in a statement on X. “However, people living nearby are advised to remain indoors and keep doors and windows closed.”

A similar advisory was also shared by the Cumbria Fire & Rescue Services on its X account.

Police said the incident was reported around 12:44 a.m. local time on Wednesday. It did not say the cause of the fire.

Two people have been hospitalized after suffering suspected smoke inhalation, it added.

Photos shared on social media showed flames and smoke rising from an industrial building near the shipyard.

This is a developing story and will be updated.

This post appeared first on cnn.com

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Flash floods kill 51 in southeast Spain, rescuers say

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At least 51 people have died in flash floods in southeastern Spain, the regional government of Valencia said on Wednesday.

Some locations in southern and eastern Spain received up to 12 inches of rain in just a few hours on Tuesday.

Footage from the city of Valencia showed muddy water flooding through the streets, tearing down walls and sweeping away parked cars.

Valencia’s regional leader Carlos Mazón told reporters earlier on Wednesday that some bodies were found as rescue teams began to reach areas previously cut off by the floods, adding, “Out of respect for the families we are not going to give any more details.”

The death toll is expected to rise as authorities said the current figures are “provisional.”

Mazón also urged residents in the provinces of Valencia and Castellón to avoid travelling by road.

The Valencia area averages 77 millimeters (3.03 inches) of rain for the entire month of October.

Chiva, just east of Valencia, received 320 millimeters (12.6 inches) of rain in just over four hours, according to the European Severe Weather Database.

Flooding was also reported in and around the cities of Murcia and Malaga, with more than 100 millimeters (4 inches) of rain falling in some areas.

The human-caused climate crisis is making extreme weather more frequent and more severe, scientists say.

As the world warms due to fossil fuel pollution, it’s driving more frequent and more intense rainfall events. Hotter oceans fuel stronger storms and a warmer atmosphere can hold more moisture which it wrings out in the form of torrential rainfall.

Rainfall warnings continue through Wednesday for portions of eastern and southern Spain, according to Spain’s Meteorological Agency, AEMET, with the threat of heavy rain expected to continue through the end of the week.

This is a developing story and will be updated.

This post appeared first on cnn.com

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Shohei Ohtani in the World Series sparks major excitement in Japan, attracts viewership rivaling the US

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The excitement was evident in a Tokyo bar on Wednesday morning, Japan time, as fans chanted for their homegrown hero.

“Shohei! Shohei! Shohei!” erupted in Fields Shibuya, a sports dining bar, as the All-Star player stepped to the plate against the New York Yankees in Game 4 of the World Series, later turning into deafening cheers when the Dodgers’ designated hitter ripped a single.

“Ohtani’s performance is high level,” said Ryosuke Matsumoto, 22, who was among the crowd in the sports bar. “I’m very happy that a Japanese player is doing so well in the Major Leagues. That’s how I became a fan. I’m proud of him.”

There would be little else for fans of Ohtani and the Dodgers to cheer for in Game 4, as the Yankees prevailed 11-4, but the excitement is sure to return for Game 5 on Wednesday (Thursday morning in Japan) at Yankee Stadium in the Bronx.

The appearance of Ohtani in this year’s edition of the World Series has captivated Japan and emerged as a television ratings phenomenon.

Tomoyuki Masuda, from Kyoto, Japan, watches the Los Angeles Dodgers batting practice before Game 4 of the baseball World Series against the New York Yankees, in New York, on October 29, 2024.
Seth Wenig/AP
Customers choose a T-shirt at a pop-up store for Major League Baseball star Shohei Ohtani ahead of the first World Series game between the Los Angeles Dodgers and the New York Yankees, in Tokyo, Japan, on October 25, 2024.
Kim Kyung-Hoon/Reuters

Earlier this week, the Dodgers’ 4-2 win over the Yankees in Game 2 drew an average of 15.9 million viewers, marking it as the highest-rated Major League Baseball postseason game in Japan’s history, according to the press release.

“Ohtani is an honorable person in Japan. Everyone shouts Ohtani, Ohtani, and it makes me extremely happy. We never had any Japanese person like that before. It’s our dear Ohtani,” said Mamoru Tanaka, a manager of the bar.

The first two games of the seven-game series between the Dodgers and the Yankees, averaged of 15.15 million viewers in Japan, according to Major League Baseball  — at times, more viewers than in the US. Japan’s population is approximately 124.5 million compared to the US, which has a population of about 334 million, as of last year.

The viewership in Japan is even more notable, given that the event aired during daytime hours.

“Since it’s on a weekday, people are watching the game between work or school. Young people are looking at the scores on social media. A lot of people can’t watch, and I think most of the people watching the game live are elderly people,” said Matsumoto.

When combined with US viewership, the first two World Series games have averaged 29.7 million viewers across the two countries.

For Game 3 in New York, the World Series drew an average of 13.6 million viewers in the US, making it the most-watched Monday night World Series game since 2013 – reflecting a heated enthusiasm also in the US, according to Fox Sports.

The excitement around Ohtani extends well past the TV screen.

People watch Shohei Ohtani of the Los Angeles Dodgers during Game 4 of the baseball World Series between the Dodgers and the New York Yankees during a public viewing event in Ohtani’s hometown of Oshu, northeastern Japan, on October 30, 2024.
Eugene Hoshiko/AP

Even viewers in the US can see a growing influence throughout the season. The logo for Daiso, a Japanese retail chain, would regularly be seen in center field as home runs were captured on TV footage.

MLB has shown a remarkable 225% increase in social media engagement, with views across various platforms rising by 229%, the league reported, reflecting the growing excitement surrounding the World Series and its star players.

The excitement in Japan for the Dodgers is not only about Ohtani. The team added Japanese pitching sensation Yoshinobu Yamamoto last off season on a 12-year, $325 million deal.

Yamamoto was the winner of Sunday’s Game 2, throwing 6 1/3 innings while only allowing one hit to the vaunted Yankee offense – all contributing to the fan enthusiasm in Japan.

This post appeared first on cnn.com

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