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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

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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

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

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

The man wore camouflage gear, a long beard protruding below a mask. His features were hidden, but when New Zealand police saw the video showing three figures walking behind him, one name came instantly to mind.

Fugitive Thomas Callam Phillips has been evading police for three years since disappearing with his children Ember, Maverick and Jayda – now 8, 9 and 11 – into the rugged wilderness of the country’s North Island during a bitter family split in December 2021.

At first Phillips was wanted for failing to appear in court on charges of wasting police resources but, three years on, his charge sheet has grown longer and more serious, with allegations that he robbed a bank in May 2023 with an unnamed female accomplice.

Police have scrambled search teams, helicopters and planes to investigate sporadic sightings but have failed to find them.

Last week’s sighting is believed to be the first of all three children since 2021.

“The guy had a big, long beard, and the kids were all masked up, and they were carrying packs, and they weren’t very keen to talk to them at all,” McOviney said.

Instead, his grandson filmed them on his phone, providing the first proof of life of the missing Phillips children that their mother Cat has seen since they left.

The entire country wants to know where they are, and why it’s taking police so long to find them.

“This is not a big country we’re talking about,” said Lance Burdett, a former detective inspector and lead crisis negotiator for New Zealand Police. “It’s very surprising that they haven’t been found, particularly since the number of sightings are in a very similar area.”

Max Baxter, mayor of the Otorohanga district that includes Marokopa, a rural community home to fewer than 100 people, says authorities believe Phillips is receiving help.

“We absolutely believe that somebody, or some people, are helping them,” said Baxter. “Tom still has a number of supporters out there believing that he is doing the right thing for him and his children.”

A family missing in wild terrain

New Zealand’s North Island is home to the wild, awe-inspiring landscape that formed some of the backdrop to Peter Jackson’s “The Lord of the Rings” and “The Hobbit” trilogies.

Steep hills with sweeping views drop away into deep valleys, dotted with caves covered by a blanket of dense forest. Marokopa is the type of place where it’s easy to get lost – and even easier to hide.

“There’s a reason why people live at Marokopa,” said Baxter. “It’s because they love the isolation. They love the fact that they’re on the rugged west coast, that they can go fishing, they can hang out with like-minded people.”

Phillips was raised in the area and his parents still live there in the family home. In a statement provided to TVNZ last year, his mother denied any knowledge of her son’s whereabouts and said the family would “like nothing more” than for the four to return.

It’s not the first time Phillips has disappeared with Ember, Maverick and Jayda. In September 2021, his car was reported abandoned on a beach, prompting a large police search of land and sea.

For three weeks, a police helicopter and drones scoured the coastline, while rescue teams searched on land, but just as the operation was winding down – with fears the family was lost at sea – they suddenly reappeared.

Phillips reportedly told police he and the children had been camping in bushland. He was later charged with wasting police resources and given a date to appear in court.

But before that day came, he disappeared again with the three children. Some assumed he’d “gone bush” again, and would later emerge – but this time, they haven’t come home.

Three children isolated from society

Ember, Maverick and Jayda were just 5, 7 and 8, when they vanished. For more than two years, their mother kept a low profile, releasing written statements through police, appealing for help to find them.

But this June, she introduced herself in an emotional video posted to Facebook.

“Hello world,” she said. “My name is Cat … I’m standing here before you today, begging you for your help to bring my babies home.”

The eldest child, Jayda, had just turned 11. “She will be a young woman now, and she needs her mother,” said Cat, who has not publicly revealed her surname. “Ember is asthmatic as am I … she needs medical care that cannot be provided from the land.”

“I can only imagine how Maverick is coping,” she added.

At the time the video was released, police had just offered a reward for 80,000 New Zealand dollars ($48,000) for information leading to finding the children. It flushed out reports of sightings, but no breakthrough.

The children’s older sister, Jubilee Dawson, made a separate appeal in an interview last year, sharing memories of her siblings.

“Jayda is the more outgoing one … she’s definitely the most confident of the three … loves talking to everybody,” Dawson told a Mata Reports documentary. “Maverick is more introverted, I’d say he’s more shy … Ember is the youngest, and more sweet and bubbly.”

Dawson fears the children may now be “traumatized and scared” and worries that they don’t know that their family is looking for them.

“We love them very much, and we are just waiting for them to come home,” she said.

An alleged bank robbery

Authorities are concerned that Phillips is not just hiding the children, but encouraging them to engage in criminal acts.

In May 2023, two masked people held up a branch of the ANZ bank, escaping on a motorbike with cash. New Zealand Police later named Phillips as the suspect, and said he was aided by a female accomplice. Both were said to be armed.

A witness told local media the accomplice was small, “even shorter than me.”

Phillips is now wanted for aggravated robbery, aggravated wounding and unlawfully possessing a firearm.

Burdett, the former detective inspector, said if Phillips carried out the bank robbery, it suggests the fugitive father was desperate for cash.

“They have to be surviving on something. You do need money. You can only live so much on the land, and particularly with three young kids,” Burdett said. “They’re going to be growing in three years.”

In November 2023, Phillips and an unnamed child are also alleged to have smashed the window of a shop at 2 a.m., before fleeing on a stolen quad bike. Phillips has also been seen on CCTV, with his face covered, buying supplies in a hardware store.

“We know Tom has been sighted at retail locations across the Waikato region disguised with various masks,” police said in a statement. 

Burdett said police need more resources to search the area and suggested a general call-out might help boost numbers on the ground.

“Let’s get in there and saturate the area. I’m sure if you asked a lot of locals – can you spend one or two days walking across these hills? – a lot of people would do it. Not just locals,” he said.

However, Mayor Baxter suggests venturing into the dense bushland around Marokopa is not a good idea for those unaccustomed to the terrain.

“For an inexperienced person out there, you could find yourself two meters off the track and may not find the track again,” he said. “We’re talking very, very deep bush and rugged countryside.”

Have they been living rough?

Their most recent statement says the “credible” sighting of Phillips and the children on October 3 prompted a three-day search but “nothing further of significance was located.”

“Police continue to urge those in the Marokopa community to remain alert and report any suspicious activity, no matter how minor, to us,” the statement added.

Mayor Baxter said the search had divided opinion in the community between those who believe Phillips should give the children up and others who defend his rights as a father.

Many just want the entire police operation to go away, he said.

Baxter said he finds it hard to believe the children have been living rough for three years in an area frequently pelted by wind and rain, where winter temperatures dip below freezing. That’s why he believes Phillips and the children must be receiving help.

“We all know it, but it just gets very uncomfortable when it’s raining day after day after day,” he said.

“I think there has to be either a shearer’s quarters, another house somewhere, a woolshed where they’ve been holed up for extensive periods of time, and they’ve been given supplies,” he said.

McOviney, whose grandson took the recent footage, posited a similar theory, noting that woolsheds and houses are dotted across the remotely populated area, used by workers tending livestock that graze in the hills.

“I think they’ve got help. I don’t know that for sure, but to keep little kids like that isolated from the family and from everybody else, you’d think they’d need some help, wouldn’t you?”

In her video message, Cat hinted at resistance in the community to the search from people who don’t believe her children need saving.

“Many of you say that the children are fine, that they’re being well looked after. How do you know, have you seen them, or is it just bush talk?” she said.

“What Thomas is doing is not okay…  It is not okay to isolate and control. It is child neglect. It is child endangerment … None of this is okay.”

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Criminalizing marital rape would be “excessively harsh,” the Indian government has said, in a blow to campaigners ahead of a long-awaited Supreme Court decision that will affect hundreds of millions of people in India for generations.

In India, it is not considered rape if a man forces sex or sexual acts on his wife, as long as she is over 18, due to an exception in a British colonial-era law.

Most Western and common law jurisdictions have long since rectified this – Britain outlawed marital rape in 1991, for example, and it is illegal in all 50 US states.

But across the world, about 40 countries do not have legislation that addresses the issue of marital rape – and among those that do, the penalties for non-consensual sex within marriage are “significantly lower” than other rape cases, according to the United Nations Population Fund’s 2021 State of World Population review.

Campaigners in India have long fought against the clause, with the country’s top court currently hearing petitions seeking to amend it, after the Delhi High Court delivered a split verdict on the issue in 2022.

In its formal opposition to those petitions, the government’s Ministry of Home Affairs argued a man should face “penal consequences” for forcing himself on his wife. But punishing it as rape would “severely impact the conjugal relationship” and “have a far-reaching effect on the institution of marriage.”

Classifying marital rape as a crime, “can be arguably considered to be excessively harsh and therefore, disproportionate,” the government said.

The government’s written affidavit is its clearest position yet on the issue of marital rape in India.

Advocates for criminalization said the government’s arguments were not surprising, but it represents a “step back” for women already living in a deeply patriarchal society where sexual violence is rampant.

“It speaks to India’s acceptance of sexual violence in our culture,” said Ntasha Bhardwaj, a criminal justice and gender scholar. “We’ve normalized that sexual violence is a part of being a woman in our country.”

In July, Prime Minister Narendra Modi’s government overhauled the country’s 164-year-old penal code with new criminal laws, but the exemption for marital rape stayed on the books.

India has struggled for years to tackle high rates of violence against women, with a number of high-profile rape cases sparking nationwide anger and drawing international headlines.

The government’s formal opposition to the marital rape criminalization campaign comes two months after the rape and murder of a trainee doctor in the West Bengal city of Kolkata sparked mass outrage and protests in the country, with hundreds of thousands of doctors striking to demand better protection for health workers.

In its argument against criminalization, the Indian government said that a woman’s consent is protected in marriage, but there is “a continuing expectation, by either of the spouse, to have reasonable sexual access from the other.”

It added that, “though these expectations do not entitle the husband to coerce or force his wife into sex… the consequences of such violations within marriage differ from those outside of it.”

The government also claimed existing laws on sexual and domestic violence were sufficient to “protect consent within marriage.”

Mariam Dhawale, General Secretary of the All India Democratic Women’s Association – one of the petitioners fighting for criminalization – said consent inside and outside of marriage are “not two different things.”

“Consent is consent,” she said. “In our country, a woman is not thought of as an independent human being, as an independent citizen of the country. She is like, sort of an appendage to the husband. She’s subordinate, she’s not a separate identity as such.”

Dhawale said marital rape is a big part of the violence reported by women who seek help from her organization, but they often avoid coming out in the open with their allegations.

“Because they know that nobody will believe them, and it’s not considered as a crime,” she said.

Shifting that belief will take more than changing a law, but it’s the “first step,” said Bharadwaj.

“It’s a cultural revolution underneath,” she said. “Until and unless you make a big statement that this is not okay, the culture will never shift, because by not having that law, the culture is accepting of that violence.”

Other laws not ‘sufficient’

Women alleging rape in India have some avenues of potential legal action against their husbands, but advocates for criminalization say the current laws don’t go far enough.

Women can seek a restraining order under civil law or charges under Section 354 of India’s Penal Code, which covers sexual assault short of rape, and Section 498A, which is intended to punish cruelty toward women specifically in the context of dowry, and India’s Domestic Violence Act.

But the laws are open to interpretation and women face hurdles even when even trying to file initial police complaints, according to recent studies.

In May, a judge in Madhya Pradesh dismissed a woman’s complaint that her husband committed “unnatural sex” by citing the country’s marital rape exemption and saying in his judgement that in such instances, “consent of the wife becomes immaterial.”

AIDWA’s Dhawale said women often remain trapped in abusive households with no recourse or way out, especially if she is financially reliant on her husband.

“We don’t have any kind of safe places, shelter homes, institutions. So she has to remain in the four walls of that place. She cannot complain, because if she complains, she has no place to go… nobody will stand by her, unless and until it’s recognized as a crime.”

‘Serious disturbances in the institution of marriage’

India’s Supreme Court increased marital consent from the age of 15 to 18 in a landmark judgement in 2017.

“The Supreme Court debunked that argument,” she said.

Now, recognizing marital rape, Kothari said, “is a crucial way in which women’s equality within the marriage is going to really be bolstered.”

Similarly, Dhawale said “the sanctity of marriage, or the harmony within the home is actually getting disturbed by the man who is committing the violence, not by the woman who is asking for justice.”

A major concern of the government and of men’s rights groups is that a marital rape law will lead to women falsely accusing their husbands of rape.

Kothari said that already, it’s extremely hard for women to report sexual violence, even when the laws support them.

“All the claims of domestic violence being misused, it’s largely untrue, because it takes an immense amount of effort for women to come out and report it,” she said.

“It’s not like floodgates are going to be opened with hundreds of marital rape cases [being reported]. It’s still going to be very difficult.”

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The Israeli military is carrying out a widespread operation in northern Gaza, issuing evacuation orders and blocking food supplies, just weeks after Prime Minister Benjamin Netanyahu was reported to be mulling a plan to besiege the area to starve Hamas and force it to release hostages.

The Israel Defense Forces (IDF) this week launched the operation following intelligence that it said showed “the presence of terrorists and terror infrastructure in the area of Jabalya in the northern Gaza Strip, as well as efforts by Hamas to rebuild its operational capabilities in the area.” In practice, the renewed offensive has been far more widespread than the Jabalya refugee camp.

The operation comes at a time when the Israeli government is known to be considering several plans to reset the war in Gaza.

Eiland last month proposed forcing all civilians out of northern Gaza, including Gaza City, and then cutting off all supplies to the area. The goal, he said, was to force a reset in the war and upend Hamas leader Yahya Sinwar’s calculus. “The reality today in Gaza is that Sinwar is really not stressed,” he said in a video released at the time.

On Monday, the Israeli military’s Arabic-language spokesperson ordered all Palestinians in Gaza’s northern-most communities – Beit Hanoun, Jabalya, and Beit Lahia – to leave and relocate to Al Mawasi, an Israel-declared “humanitarian area” in southern Gaza that has nonetheless come under intense aerial bombardment for months.

The military on Saturday added additional mandatory evacuation zones, dropping flyers and posting on X, ordering people in the Nazla area and more areas of Jabalya to leave.

The military “is operating with great force against terrorist organizations and will continue to do so for an extended period,” Avichay Adraee said on X. “You must evacuate the area immediately via Salah al-Din Street to the humanitarian zone.”

Most intense action

“Virtually the entire area is under evacuation orders, and thousands of families have been forced to flee amid intense airstrikes and military operations on the ground,” WFP said in a statement on Wednesday. “With the main aid crossings into northern Gaza closed and WFP-partner kitchens forced to shut down, WFP is no longer able to distribute food in any form to families that desperately need it.”

“Even the basic necessities of life for the besieged people are unavailable,” Ibrahim said. “There is no safe drinking water, no adequate or healthy food, no medicine, no treatment, and no hospitals. They are working at minimum capacity and are exhausted. Even the safe places are bombed with shells and rockets.”

Dr. Hussam Abu Saifiya, director of the Kamal Adwan Hospital in northern Gaza, said the facility was informed by the Israel Defense Forces (IDF) Tuesday that medical staff and patients must evacuate the hospital “within 24 hours.” They were not told where to go, he said. Al Awda and the Indonesian hospitals have also been ordered to leave, according to local officials. Hospital officials say Israel’s intense bombardment of the area makes it impossible to leave safely.

Meanwhile, seven attempts this week by the World Health Organization to reach northern Gaza were “denied or impeded,” Director-General Dr. Tedros Adhanom Ghebreyesus said Thursday.

“The team was unable to carry out the medical evacuation of critical patients from Kamal Adwan, Al-Awda and Indonesian hospitals to Al-Ahli and Al-Shifa, due to delays of over 10 hours at checkpoints,” he said in a statement on X.

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Ukraine’s incursion into Russia’s Kursk region is now entering its third month, with scores of settlements still firmly under its control.

The operation marked the first time foreign troops entered Russian territory since World War II – embarrassing the Kremlin and proving to Kyiv’s backers and the rest of the world that Ukraine’s military was not perpetually on the back foot.

Some nine weeks later, Ukraine’s advance has stalled, and neither side has made major gains or counterattacks in recent days.

The endgame is unclear. Analysts believe Kyiv is trying to use its initial momentum for a morale boost and a potential bargaining chip, while Russian President Vladimir Putin is trying to downplay the entire incursion and limit the resources Russia’s war machine devotes to countering it.

What’s the latest on the ground?

Ukraine has maintained a foothold in Kursk of about 786 square kilometers (300 square miles), according to the latest assessment by the Institute for the Study of War (ISW), a think tank in Washington, DC.

Ukraine’s main foothold is around the Russian town of Sudzha and its military is trying to establish a second foothold around Veseloe village. Ukraine has not disclosed how many troops it has sent to the region.

Russia has deployed a reasonably large number of troops – estimated at 40,000 – to defend and counterattack in Kursk, but analyst Mark Galeotti described the initial force as “built from wherever they can find,” with Russia using conscripts and reservists at the outset of the incursion.

Moscow has since deployed more experienced forces, but not as many resources as Russian civilians in Kursk would perhaps want.

As fighting in the area continues, Russian authorities say more than 100,000 civilians have been displaced, while many others find themselves living behind Ukrainian lines.

“Over time, there is a degree to which the Kursk operation has become normalized,” Galeotti said. “We shouldn’t assume that Russians have just come to accept it… I think Putin has managed to postpone judgment, but I don’t think it’s been completely waived.”

Why hasn’t Russia’s response been stronger?

Russia is trying to avoid diverting any resources from the frontlines of its full-scale invasion of Ukraine to fight in Kursk.

Although the incursion was initially a shock to both the government and ordinary Russians, “the Kremlin has played this down,” according to John Lough, an associate fellow at Chatham House’s Russia and Eurasia Program. “The strategy is to distract the population from what’s happened, which is undoubtedly a major embarrassment, and to create the impression that this is not serious.”

Putin’s government has characterized it as a “raid” and even downplayed their counterattack as a “counterterrorism mission.”

One Russian military blogger put the normalization into stark words, saying: “Most of Russia has already got used to the fighting near Kursk… Those who have nothing to do with the Kursk region are rather sluggishly interested in what is happening.”

Frontlines are moving only slightly, but the fighting is reportedly fierce, with Russian forces deploying numerous drones, barrel artillery and aerial bombers, according to the Ukrainian commander.

“They don’t hesitate to drop a bomb on a tree line if they assume we have troops there,” Ukrainian battalion commander “Kholod” said. He claims Russia has now sent a powerful group of troops and combat brigades to where his unit is fighting in Kursk, and argued the Russian counterattack was staved off by Ukraine’s drone and mine attacks.

What has Ukraine achieved?

The incursion into Kursk likely had multiple goals, analysts say, including giving Ukraine a narrative win.

“Their goal was to demonstrate to Ukraine’s Western allies that the Russians are vulnerable and that there are limits to their ability to deploy combat power,” said Lough, adding that the incursion also highlighted how “Russia’s red lines are rhetorical.”

Yet Ukraine’s goal of diverting troops from the eastern frontline to Kursk has so far failed.

Kursk could still be a bargaining chip for negotiations in the future, though, experts said.

“By taking this territory, they immediately ruled out the possibility of both the Russians and the Western allies saying, ‘Now it’s time to stop. Let’s have a ceasefire,’” Lough said.

Focus still on eastern Ukraine

Meanwhile, the primary focus of the war remains on the frontlines in Ukraine’s eastern Donbas region, where its troops are fighting to retain control of the strategic city of Pokrovsk.

Rather than focus resources on liberating their own territory, the Russian military has expanded its assaults on multiple fronts in Ukraine, including in key areas of Kharkiv, Donetsk and Zaporizhzhia.

“It seems to be a very high priority for the Kremlin to advance as far as possible in Donbas, regardless of the losses,” Lough added. “There is a sort of window that is about to close, because you get to this time of year when the roads turn to mud.”

Russia’s daily attacks on Ukraine continued Thursday, with several people killed in the regions of Odesa, Kherson and Donetsk.

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Gold and Silver: New Higher Targets and Prices on Friday

  • The price of gold was again forced to test the weekly support level on Thursday
  • On Wednesday, the price of silver has spent time consolidating in the support zone

Gold chart analysis

The price of gold was again forced to test the weekly support level on Thursday. After a successful test, we saw the initiation of a bullish consolidation up to the $2630 level. Then, during this morning’s Asian session, gold continued to rise to the $2647 level, forming a new three-day high there. We are currently encountering resistance in that zone and pulling back to the $2640 level.

The EU session brought pressure on gold, and we should see a further decline to the EMA200 moving average in the $2633 zone. If the support is not adequate, the price will have to drop to a new daily low. Potential lower targets are $2625 and $2620 levels. For a bullish option, we plan to hold above the EMA 200 moving average. After that, the price has a new opportunity to initiate a bullish consolidation and return to the bullish trend. Potential higher targets are $2645 and $2650 levels.

 

Silver chart analysis

On Wednesday, the price of silver has spent time consolidating in the support zone. On Thursday, a bullish consolidation was initiated up to the $31.00 level. During this morning’s Asian trading session, the price continued to rise to $31.34, forming a three-day high at that level. With the beginning of the EU session, the price loses its bullish momentum and turns to the bearish side. Bearish pressure is strengthening again as we have pulled back below the EMA 200 moving average.

If we don’t stabilize in the $31.00 zone soon, the pullback will continue to a new daily low. Potential lower targets are $30.80 and $30.60 levels. For a bullish option, we need to get back above the EMA 200 and $31.20. After that, we expect the bullish momentum to strengthen, and with the support of the moving average, we will start a bullish trend. Potential higher targets are $31.40 and $31.60 levels.

 

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Bitcoin and Ethereum: Bitcoin drops to new low on Thursday

  • The price of Bitcoin on Thursday retreated to $58867 at a new weekly low
  • Last night, the price of Ethereum dropped to $2328, a new weekly low

Bitcoin chart analysis

The price of Bitcoin on Thursday retreated to $58867 at a new weekly low. With that step, the price broke last week’s low. After a quick consolidation, we are back above the $60,000 level again this morning. For now, we have resistance at $60,800, where the EMA 50 moving average is creating additional pressure. We need momentum above to strengthen bullish momentum and continue today’s consolidation.

Potential higher targets are $61000 and $61500 levels. EMA 200 moving average could represent an even higher resistance in the $62000 zone. For a bearish option, we need a negative consolidation and a descent of Bitcoin below $60000. With that step, we go to a new daily low and confirm the bearish pressure on the price. Potential lower targets are $59500 and $59000 levels.

 

Ethereum chart analysis

Last night, the price of Ethereum dropped to $2328, a new weekly low. Soon after, we saw the initiation of a bullish consolidation up to the $2380 level. This morning, the price continued its recovery from there, breaking above $2400. Currently, we also have the support of the EMA 50 moving average, but we have resistance at the $2420 level. If the support holds, we can hope for a bullish impulse to a new daily high.

Potential higher targets are $2440 and $2460 levels. We will have a big resistance in the $2440 zone in the EMA 200 moving average. For a bearish option, we need a negative consolidation and a drop below the EMA 200 moving average first. After that, we expect testing of the daily open level. This time, we hope for a break below to a new low, which will confirm the strengthening of the bearish momentum. Potential lower targets are $2360 and $2340 levels.

 

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