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November 2024

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Uranium stocks have been supported by a variety of catalysts this year, including geopolitical tensions, the energy transition and national security concerns.

The market is benefiting from more countries committing to building and expanding their nuclear energy supply. Investors are also recognizing the value in the reliable, clean electricity that uranium can produce.

Positive market fundamentals pushed the spot uranium price to 16 year highs in January, when values rose to US$106 per pound. However, the level proved unsustainable as prices have since contracted and remain range bound between US$79 to US$86 per pound since June.

Despite slipping from its January highs, the uranium market has been supported by news that production out of Kazakhstan will be impacted by a sulfuric acid shortage, which has prompted top-producer Kazatomprom to reduce its guidance for 2024 and 2025.

The investment thesis was further strengthened when US President Joe Biden signed the Prohibiting Russian Uranium Imports Act into law in early May. The measures, which are aimed at further sanctioning Russia and its invasion of Ukraine, took effect on August 11. As the largest end user of uranium for nuclear fuel, the US is now poised to increase domestic supply while also strengthening partnerships with ally nations Canada and Australia.

In response to the legislation, Russian President Vladimir Putin said in September that the country should consider export restrictions for the energy fuel and other in-demand raw materials; restrictions were put in place on November 15.

Although U3O8 prices slumped over the summer, the sector was abuzz with excitement when Constellation Energy (NASDAQ:CEG) penned a 20 year power purchase agreement with Microsoft (NASDAQ:MSFT).

The deal will see Constellation restart nuclear energy production at Three Mile Island (TMI) Unit 1.

Amazon Web Services (AWS), a subsidiary of Amazon (NASDAQ:AMZN), also partnered with Dominion Energy (NYSE:D) and Energy Northwest to implement small modular reactors (SMRs) to power its AI data centers.

“Big tech’s groundbreaking deals to power AI data centers with nuclear energy underscores the urgent need to secure stable, carbon-free electricity as energy demand surges,” an October uranium report from Sprott reads.

As nuclear energy demand is poised to grow, securing future supply becomes more imperative.

“To meet these 2040 projections, the uranium mine supply needs to more than double by then, but the supply response thus far has proven to be more challenging to ramp up than anticipated,” the report noted.

The list below provides an overview of the five largest uranium companies by market cap. All data was current as of November 13, 2024. Read on to learn about these stocks and their operations.

1. BHP (NYSE:BHP,ASX:BHP,LSE:BHP)

Company Profile

Market cap: US$135.55 billion

Mining major BHP owns and operates Australia’s Olympic Dam mine, considered one of the world’s largest uranium deposits. While the site is included in the company’s Copper South Australia operations portfolio and copper is the primary resource extracted, the mine also produces significant quantities of uranium, gold and silver.

In its half-year results announcement in February, BHP reported that higher average realized prices for copper, uranium, gold and silver had added an additional US$100 million of value to Copper South Australia.

According to BHP’s results for the nine months ended on March 31, uranium production at Olympic Dam totaled 863 metric tons year-to-date and 2,674 metric tons for the full nine month period.

While BHP shelved plans to expand the Olympic Dam mine in 2020, opting instead to invest in the existing infrastructure at the underground site, the company is currently evaluating options for a new two stage smelter, with a final investment decision expected between its 2026 and 2027 fiscal years.

Work was temporarily halted at Olympic Dam in October after electrical storms damaged transmission infrastructure.

Internally, the Australian mining giant began exploring the potential of nuclear propulsion for shipping in February. The decision falls in line with the company’s ambitious decarbonization goals. BHP hired Dutch nuclear consultancy firm ULC-Energy, to study various nuclear technologies for merchant vessels. The firm reported, ‘Full-scale nuclear propulsion would require new regulations, changes to operations, and solutions to technical problems.’

2. Cameco (NYSE:CCJ,TSX:CCO)

Company Profile

Market cap: US$23.66 billion

Uranium major Cameco holds significant stakes in key uranium operations within the Athabasca Basin of Saskatchewan, Canada. This includes a 54.55 percent interest in the Cigar Lake mine, the world’s most productive uranium mine.

The company also owns 70 percent of the McArthur River mine and 83 percent of the Key Lake mill. Orano Canada is Cameco’s primary joint venture partner across these operations.

Weak spot uranium prices between 2012 and 2020 weighed heavily on pure-play uranium producers. In 2018, Cameco closed the McArthur River and Key Lake operations, reducing annual uranium output from 23.8 million pounds in 2017 to 9.2 million pounds in 2018. Improving market dynamics prompted the company to restart MacArthur Lake in 2022.

As a full nuclear fuel cycle provider, Cameco, in partnership with Brookfield Renewable Partners and Brookfield Asset Management, completed the purchase of Westinghouse Electric Company — a leading provider of nuclear power plant services and technologies — in November 2023. The deal was announced in 2022.

In its Q2 results, the company noted that the uranium segment is performing well, with strong production and financial results for the quarter and first half of the year. Additionally, increased revenues and gross profit were driven by a higher average realized price.

Production in Q2 was up year-over-year to 6.2 million pounds. While year-to-date deliveries of 13.5 million pounds were slightly lower than in 2023, Cameco maintained its annual guidance of 32 million to 34 million pounds.

In early November, Cameco released its Q3 results, highlighting a 43 percent year-over-year production increase to 4.3 million pounds. Revenues also rose, coming in at US$721 million, a 75 percent year-over-year increase. The mining major reported a significant net earnings decline due to logistical issues at its Inkai joint venture in Kazakhstan and costs tied to Westinghouse.

3. NexGen Energy (NYSE:NXE,TSX:NXE,ASX:NXG)

Company Profile

Market cap: US$4.29 billion

NexGen Energy, a company specializing in uranium exploration and development, is primarily focused on the Athabasca Basin. Its flagship project is the Rook I project, which includes significant discoveries such as Arrow and South Arrow.

The company also owns a 50.1 percent interest in exploration-stage company IsoEnergy (TSXV:ISO,OTCQX:ISENF).

In late May, NexGen completed the purchase of 2.7 million pounds of U3O8 for US$250 million. This acquisition was financed through the issuance of US$250 million in five year, 9 percent unsecured convertible debentures.

In a company release, CEO Leigh Curyer stated that the transaction enhances the progress of ongoing offtake negotiations, aiming to maximize the value of NexGen’s substantial uranium inventory in preparation for future production and sales. He highlighted the strategic importance of having 2.7 million pounds of uranium in inventory following the enactment of the Prohibiting Russian Uranium Imports Act.

An August press release from the company provided an updated economic report for the Rook I project. The new cost breakdown includes estimated pre-production capital costs of C$2.2 billion, with an “industry-leading” average operating cost of C$13.86 per pound of U3O8 over the mine’s lifespan.

Sustaining capital costs are projected at C$785 million, averaging C$70 million per year, including closure costs. The statement noted that the cost adjustments account for inflation, engineering advancements and improved environmental performance.

A mid-November announcement provided an update on the company’s 2024 drill campaign at Rook I’s Patterson Corridor East. The extensive 34,000 meter drill program, which NexGen described as the largest in the Athabasca Basin this year, uncovered a new uranium zone that it has extended to 600 meters along strike and depth. Hole RK-24-222 returned 17 meters of high-intensity mineralization, the best result at the corridor to date.

4. Uranium Energy (NYSEAMERICAN:UEC)

Press ReleasesCompany Profile

Market cap: US$3.11 billion

Uranium Energy (UEC) has two production-ready in-situ recovery (ISR) uranium projects — its Christensen Ranch uranium operations in Wyoming and its Texas Hub and Spoke operations in South Texas — as well as two operational processing facilities. It plans to restart uranium production in Wyoming in August and resume South Texas operations in 2025.

The company has built one of the largest US-warehoused uranium inventories, and in 2022 it secured a US Department of Energy contract to supply 300,000 pounds of U3O8 as part of the country’s move to establish a domestic uranium reserve.

UEC also holds a wide portfolio of uranium projects in the US and Canada, some of which have major permits secured. In August 2022, UEC completed its acquisition of uranium company UEX. That same year, UEC also acquired both a portfolio of uranium exploration projects and the Roughrider uranium project from Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO).

In May, the company released a statement in support of the US government’s decision to ban Russian uranium imports. In the announcement, Amir Adnani, UEC’s president and CEO, expressed gratitude for the bipartisan bill, emphasizing its role in bolstering US energy and national security by ending reliance on Russian uranium imports.

In mid-August UEC reported the successful restart of uranium production at its Christensen Ranch ISR operations in Wyoming. The first shipment of yellowcake is expected by November or December 2024.

Most recently, UEC submitted an initial economic assessment for its Roughrider project in the Athabasca Basin, which included a post-tax estimated net present value of US$946 million.

5. Denison Mines (TSX:DML,NYSEAMERICAN:DNN)

Company Profile

Market cap: US$1.91 billion

Denison Mines is focused on uranium mining in Saskatchewan’s Athabasca Basin. holding a 95 percent interest in the Wheeler River uranium project, which hosts the Phoenix and Gryphon deposits.

Denison has significant landholdings in the basin, through both operating and non-operating joint venture interests with uranium majors such as Orano and Cameco. This includes a 22.5 percent interest in Orano’s McLean Lake mill and mine, the latter of which is expected to re-enter production in 2025.

In 2023, Denison completed a feasibility study for the Phoenix deposit, which hosts proven and probably reserves of 56.7 million pounds of uranium. The company is planning to use in-situ recovery for Phoenix and is targeting first production for 2027 or 2028. Denison also updated the 2018 pre-feasibility study for the Gryphon deposit as an underground mine. According to the company, both deposits have low-cost production potential.

In late September, Denison entered into an option agreement with Foremost Clean Energy (NASDAQ:FMST,CSE:FAT), which was formerly Foremost Lithium. Under the deal Denison has granted Foremost the option to acquire up to 70 percent of its interest in 10 uranium exploration properties. For its part, Foremost will provide Denison with a mix of cash, shares, and/or exploration spending commitments.

Denison’s recently released Q3 results underscored positive financial and operational results, with progress on the company’s flagship Wheeler River project in Saskatchewan. Key highlights include ongoing field tests for the Phoenix uranium deposit’s ISR method, aiming to confirm the project’s feasibility and economic potential.

FAQs for uranium investing

What is uranium?

First discovered in 1789 by German chemist Martin Klaproth, uranium is a heavy metal that is as common in the Earth’s crust as tin, tungsten and molybdenum. Named after the planet Uranus, which was also discovered around the same time, uranium has been an important source of global energy for more than six decades.

What country has the most uranium?

Australia and Kazakhstan lead the world in both terms of uranium reserves and uranium production. Australia takes first prize for the world’s largest uranium reserves, representing 28 percent globally at 1,684,100 MT of U3O8. However, the Oceanic country ranks fourth in global uranium production, putting out 4,087 MT of U3O8 in 2022.

For its part, Kazakhstan controls 13 percent of global uranium reserves and leads the world in uranium production with 2022 output of 21,227 MT. Last year, Canada passed Namibia to become the second largest uranium producer, putting out 7,351 MT of U3O8 in 2022 compared to Namibia’s 5,613 MT. The countries hold 10 percent and 8 percent of global reserves respectively.

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

This post appeared first on investingnews.com

Thousands of supporters of Pakistan’s jailed former Prime Minister Imran Khan broke through barricades around the capital Tuesday and marched into Islamabad, clashing with security forces and demanding his release.

Authorities have enforced a security lockdown in the country, imposed internet blackouts and barricaded major roads leading into the capital to prevent protesters from entering, after Khan called for his supporters to march on parliament.

Pakistan’s Interior Minister Mohsin Naqvi told reporters that protesters could remain on the outskirts of Islamabad, but threatened extreme measures if they entered the city.

The latest protests came as Islamabad bolstered security for an official visit by Belarus President Aleksandr Lukashenko, who arrived in the capital on Monday for three days of talks with Pakistan Prime Minister Shehbaz Sharif.

Here’s what to know.

What’s happening?

A convoy of vehicles carrying protesters set off from the city of Peshawar Sunday as part of a “long march” with the aim of reaching the capital, about 180 kilometers (110 miles) away.

Led by Khan’s wife Bushra Bibi and Ali Amin Gandapur, chief minister in northwest Khyber Pakhtunkhwa province – where Khan’s party remains in power – the protesters planned to hold a sit-in at D-Chowk, a large square near the country’s parliament.

Protesters reached the outskirts of Islamabad Monday, defying a two-day security lockdown and a ban on rallies. Along the way, police fired tear gas to disperse the crowds and blocked roads with shipping containers to prevent them pushing through.

Video showed a police post ablaze and several fires on the highway. Reuters reported 22 police vehicles were torched just outside Islamabad and elsewhere in Punjab province.

By Tuesday morning, protesters had breached the city limits and a large crowd was gathered at Zero Point, an interchange well inside the city.

Soldiers could be seen outside key government buildings in Islamabad, including parliament, the Supreme Court and the Secretariat.

Will the protests continue?

Naqvi, Pakistan’s interior minister, said security forces had suffered bullet wounds, but police were “showing restraint” with protesters.

He warned that if protesters crossed the line, security forces had been authorized to fire back, and he could take extra measures including imposing a curfew or deploying the military.

“Rangers could open fire and there will be no protesters there after five minutes,” Naqvi said. “Anyone who reaches here will be arrested.”

Khan’s Pakistan Tehreek-e-Insaf (PTI) party has accused the government of using excessive force, saying “bullets were fired at protesters” who it described as “peaceful.” The PTI said about two dozen protesters had been injured.

In recent days, thousands of Khan supporters have been arrested in Punjab and Khyber Pakhtunkhwa provinces as authorities tried to prevent the protest march.

Schools in Islamabad and nearby Rawalpindi closed on Monday and Tuesday, and officials and witnesses said all public transport between cities and terminals had been shut down, according to Reuters.

PTI senior leader Kamran Bangash said protesters were “determined, and we will reach Islamabad,” adding that “we will overcome all hurdles one by one.”

Why are they protesting?

Protesters are demanding the release of Khan and what his supporters deem political prisoners. They also want a new constitutional amendment to be repealed, which has increased the government’s power to select superior court justices and pick those judges to hear political cases.

Khan’s supporters also believe February elections were not free and fair, calling it a “stolen mandate.”

Khan was ousted in a parliamentary no-confidence vote in 2022 and has since led a popular campaign against the current government led by Prime Minister Sharif, accusing it of colluding with the military to remove him from office.

The former star cricketer turned populist politician has been in jail for over a year and faces dozens of criminal cases ranging from corruption to leaking state secrets, all of which he and his party deny.

Khan and the PTI – the country’s largest opposition party – remain popular, and his detention has turbocharged an already tense showdown between the country’s powerful military and his supporters.

Khan has repeatedly urged his supporters to take to the streets demanding his release, and violence has broken out in several cities.

A march to Islamabad from Khyber Pakhtunkhwa province in early October demanding Khan’s release was met with similar road blockades and mobile and internet cuts and ended in clashes with police.

The protests come at a sensitive time for Pakistan, which has seen a wave of sectarian violence and separatist militant attacks that have killed dozens of people in recent months.

This post appeared first on cnn.com

Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub.

In a letter to US Treasury Secretary Janet Yellen Monday, bipartisan leaders of the House Select Committee on China demanded greater scrutiny from Washington of Hong Kong’s much prized financial sector, a pillar of the economy that’s home to many big US banks and accounts for more than one-fifth of the Chinese territory’s gross domestic product.

Hong Kong has become a “global leader” in illicit practices, it said, including in the export of controlled Western technology to Russia, the creation of front companies to buy Iranian oil and the managing of “ghost ships” that engage in illegal trade with North Korea.

Since Beijing imposed a national security law on the city in 2020, “Hong Kong has shifted from a trusted global financial center to a critical player in the deepening authoritarian axis of the People’s Republic of China, Iran, Russia, and North Korea,” the lawmakers said.

“We must now question whether longstanding US policy towards Hong Kong, particularly towards its financial and banking sector, is appropriate,” they added.

In 2020, then-President Donald Trump revoked the special treatment Hong Kong had long enjoyed under US law, to punish Beijing for imposing the national security law on the once-outspoken city. The executive order effectively ended the city’s separate customs treatment from mainland China by suspending a 1992 law granting Hong Kong special economic status.

Since then, dozens of Hong Kong-based companies have been hit by US sanctions for evading extensive measures imposed on Russia in response to its invasion of Ukraine, including the supply of critical dual‑use goods such as semiconductors.

Hong Kong officials have previously said the city has no obligation to implement unilateral sanctions imposed by other countries – including when a mega yacht linked to a Russian oligarch sanctioned by the US, the European Union and the United Kingdom dropped anchor in the city in October 2022.

The committee’s letter cited research published this year that shows nearly 40% of goods shipped from Hong Kong to Russia between August and December 2023 were high-priority items that are likely fueling Moscow’s production of military goods such as missiles and aircraft.

The lawmakers asked Treasury Department officials to brief the committee on “the current status of American banking relationships with Hong Kong banks, how our policies have shifted to account for the changes in Hong Kong’s status and posture, and the measures the Treasury plans to implement to address these risks.”

The letter, signed by Republican Rep. John Moolenaar, who chairs the committee, and Rep. Raja Krishnamoorthi, the panel’s top Democrat, highlights the growing scrutiny on Hong Kong in the escalating great power rivalry between the US and China.

It comes as Trump is poised to return to the White House with a cabinet stacked with China hawks, including Marco Rubio, who has been named secretary of state.

Rubio, a fierce critic of Beijing’s crackdown on Hong Kong, has sponsored legislation that sanctioned Chinese and Hong Kong officials for alleged human rights violations in the city. He has also proposed a bill now being considered in Congress to let the secretary of state strip certification from Hong Kong’s economic and trade offices in the US.

Trump has also named hedge fund executive Scott Bessent as his treasury secretary.

Isaac Stone Fish, CEO of Strategy Risks, a business intelligence firm that focuses on China, said even if Yellen declines to act upon the letter, Bessent – who in a recent interview described Beijing as a “despotic regime” – is expected to take a more hawkish approach to China.

“In fact, it appears like he’ll be the most hawkish Treasury Secretary since the 1970s. This has massive implications for US businesses with big exposure to Hong Kong,” Fish said.

“Sadly, the idea of Hong Kong as autonomous from China is now a farce … US companies need to understand that their Hong Kong operations will likely fall under increased scrutiny.”

This post appeared first on cnn.com

German leaders raised the possibility that a fiery cargo plane crash in Lithuania on Monday was the result of sabotage or hybrid warfare.

The cargo plane was flying from Leipzig, Germany, and was due to land at Vilnius Airport when it crashed a few kilometers from the runway. The plane skidded on the ground for several hundred meters before hitting a residential home, authorities in Lithuania said.

Asked on Monday evening whether the crash was the result of hybrid warfare, German Chancellor Olaf Scholz told public broadcaster ZDF: “We are looking at this closely, we can’t say at the moment, but it could be so – there are very many bad forms of hybrid warfare that we are seeing in Germany.”

Scholz said the cause of the crash “needs to be investigated closely. But we won’t make an accusation until we can prove it.”

His comments follow similar remarks by Foreign Minister Annalena Baerbock who, according to Reuters, told reporters at a G7 summit: “The fact that we, together with our Lithuanian and Spanish partners, must now seriously ask ourselves whether this was an accident (or) another hybrid incident shows what volatile times we are currently living in, even in the center of Europe.”

On Tuesday, Lithuanian authorities downplayed the prospect, insisting that no evidence pointing to sabotage had yet been uncovered. “Our initial information does not indicate that we need to be investigating more serious actions,” Prosecutor Arturas Urbelis said in a statement, according to Reuters.

“We might find signs of activities of other kinds as we investigate,” he added.

The US National Transportation Safety Board is sending its own personnel to assist with the investigation, Reuters reported, alongside representatives from Boeing and the US Federal Aviation Administration.

Footage from a nearby security camera shows the plane descending, before dipping out of view behind a building. Moments later, a large fireball can be seen in the sky rising from behind the building, followed by a plume of black smoke.

One crew member died in the crash. Three others on board the flight, including the pilot, survived, along with 12 people in the house who were safely evacuated, according to local authorities.

Lithuania’s Counter-intelligence chief Darius Jauniskis told reporters at a news conference: “We cannot reject the possibility of terrorism. … But at the moment we can’t make attributions or point fingers, because we don’t have such information.”

Earlier this month, the Wall Street Journal reported that incendiary devices which ignited in Leipzig, Germany and the United Kingdom in July were part of a covert Russian operation that aimed to start fires aboard cargo and passenger flights heading to the US and Canada. Some European officials later backed those allegations, which Moscow denied.

“I can state that this is part of unconventional kinetic operations against NATO countries that are being undertaken by the Russian military intelligence,” Kestutis Budrys, a national security adviser to Lithuanian President Gitanas Nauseda, told Reuters after the WSJ report.

“We note that these operations are being escalated: their focus is moving … to harming infrastructure and actions that could end up killing people,” Budrys said.

Speaking at a news conference, Kremlin spokesperson Dmitry Peskov called the WSJ’s reporting “unintelligible hoaxes which are never supported by any credible information.”

DHL said the plane “made a forced landing about one kilometer from VNO Airport.” It confirmed four people were onboard. “The cause of the accident is still unknown, and an investigation is underway,” DHL said.

The plane was a Boeing 737-400, according to a statement from Swiftair.

According to the Vilnius mayor, Valdas Benkunskas, the plane narrowly missed hitting the house directly, crashing instead into the nearby courtyard, LRT reported.

The head of the Lithuanian Police, Arūnas Paulauskas, said the incident was “most likely due to a technical fault or a human error” but that terrorism “cannot be ruled out,” according to LRT.

This story has been updated with additional developments.

This post appeared first on cnn.com

Three bodies were recovered on Tuesday morning from a tourist boat which capsized off Egypt’s Red Sea coast, and rescue teams were still searching for 13 missing people, the Red Sea provincial governor, Amr Hanafi, told Reuters.

The boat, the Sea Story, capsized on Monday near the Sataya Reef, carrying 31 tourists and 13 crew on a multi-day diving trip. It was struck by high waves and sank in 5-7 minutes.

Sixteen passengers were believed to have been trapped inside, according to a Red Sea Governorate statement on Monday.

Twenty-eight survivors were rescued with minor injuries, none requiring hospitalization. Survivors were being accommodated in a hotel in Marsa Alam, where authorities were working with embassies and consulates to provide assistance and documentation.

Hanafi said the boat had passed its last safety inspection in March 2024, with no technical issues reported. The boat, owned by an Egyptian national, was 34 meters long and had received a one-year safety certificate from the Maritime Safety Authority.

The incident occurred during rough weather conditions. The Egyptian Red Sea Ports Authority reported wave heights of 3-4 meters (10-13 feet) and wind speeds of 34 knots in the area on Sunday, leading to the closure of maritime traffic.

It was the second boat to sink in the area this year; in June another vessel suffered severe damage from strong waves, though no casualties were reported.

The Red Sea, renowned for its coral reefs and marine life, is a major hub for Egypt’s tourism industry, which plays a critical role in the country’s economy.

This post appeared first on cnn.com

With a Hezbollah-Israel ceasefire on the horizon, an 18-year-old United Nations resolution has resurfaced as a blueprint for ending the war.

The 60-day cessation of hostilities aims to implement UN Security Council Resolution 1701, with the hope that it could form the basis of a lasting truce.

Resolution 1701 was adopted to end a 34-day war between Israel and Lebanon in 2006, and had kept relative calm in the area for nearly two decades. That lasted until the day after Hamas’ October 7 attack on Israel last year, when Hezbollah attacked in solidarity, beginning more than a year of conflict.

The resolution stipulated that Israel must withdraw all its forces from southern Lebanon, and that the only armed groups present in south of the Litani river should be the Lebanese military and UN peacekeeping forces.

The United States, which is mediating between Israel and Lebanon in the current conflict, believes a return to the principles of the resolution is in the interest of both parties, but has insisted on a mechanism to enforce it more strictly. Israel has argued that Hezbollah has breached the resolution multiple times by operating close to its border. Lebanon says Israel regularly breached the agreement over the past two decades by sending fighter jets into its airspace.

Here’s what we know about the resolution and why it is critical to a ceasefire between Israel and Lebanon.

A brief history

Israel launched an invasion into Lebanon in 1982, sending tanks all the way to the capital Beirut, after coming under attack from Palestinian militants in the country.

It then occupied southern Lebanon for almost two decades until the year 2000, when it was driven out by Hezbollah, created – with backing from Iran – to resist the Israeli occupation.

In 2000, the UN established the so-called Blue Line, a “line of withdrawal” for Israeli forces from Lebanon. That boundary now serves as the de facto border between the two countries.

Lebanon has however claimed that Israel did not complete its withdrawal from the country, continuing to occupy the Shebaa Farms, a 15-square-mile (39-square-km) patch of land Israel has held since 1967.

Israel claims the Shebaa Farms area is part of the Golan Heights, which it captured from Syria and later annexed. The international community – with the notable exception of the United States – considers the Golan Heights to be occupied territory belonging to Syria.

Resolution 1701

Israel invaded Lebanon again in 2006 after Hezbollah killed three soldiers and kidnapped two others – in an effort to compel the release of Lebanese prisoners. The war lasted just over a month and resulted in the death of more than 1,000 Lebanese, mostly civilians, as well as 170 Israelis, mostly soldiers.

On August 11, 2006, the UN Security Council unanimously adopted Resolution 1701, which called for “a full cessation of hostilities” by Hezbollah and Israel.

The resolution demanded that Israel withdraw all its forces from southern Lebanon, and for the Lebanese government and the UN Interim Force in Lebanon (UNIFIL) “to deploy their forces together throughout the south.” No other armed personnel would be permitted in the area.

It also called on the Lebanese government “to exercise its full sovereignty, so that there will be no weapons without the consent of the Government of Lebanon and no authority other than that of the Government of Lebanon.”

A 10,000-troop UN peacekeeping force, UNIFIL is the main body tasked with implementing Resolution 1701 on the ground.

A UN-mediated prisoner exchange between Israel and Hezbollah in 2008 saw the return of the remains of the two Israeli soldiers captured in 2006 for five Lebanese prisoners. Israel later released the bodies of some 200 Arabs.

Escalation since October 8

Hezbollah began firing at the Israeli-held Shebaa Farms on October 8, 2023, in what it later said was solidarity with the Palestinians of Gaza, a day after Gaza-based Hamas launched a major attack on southern Israel, killing approximately 1,200 people and taking another 251 hostage. Israel fired back.

Between October 8, 2023 and the end of June, UNIFIL detected 15,101 cross border trajectories, of which 12,459 were from Israel into Lebanon, and 2,642 Lebanon into Israel,” the UN said on October 1, adding that “while most exchanges of fire have been confined to within a few kilometers of either side of the Blue Line, several strikes have reached as far as 130 km into Lebanon and 30 km into Israel.”

Since then, cross border skirmishes continued but were contained along the Israel-Lebanon frontier, until September this year, when Israel expanded its war aims to including the return home for residents of the north, who were displaced due to cross border attacks from Hezbollah, which said that it would only stop attacks on Israel once a ceasefire is reached in Gaza. That was followed by a massive aerial assault on Lebanon, and the October 1 ground invasion into the country.

Where each party stands on 1701

It focuses on stricter mechanisms to implement Resolution 1701 in the south of the country and on the role of the Lebanese army in doing so, the official said, adding that it also deals with smuggling routes through the country’s international borders.

The proposal also requires Israeli ground forces, operating in southern Lebanon since October, to withdraw.

But some officials in Israel have said that simply returning to 1701 is not enough, insisting that Israel must retain the right to strike Hezbollah targets in Lebanon after a ceasefire deal should violations occur.

Bezalel Smotrich, the far-right Israeli minister of finance, has said that “full operational freedom” for the Israeli military in southern Lebanon is “a non-negotiable condition.”

“We are changing the security paradigm and will not return to decades of concepts of containment and threats without response. This will not happen again,” he said.

Lebanese Prime Minister Najib Mikati has dismissed reports of demands to give the Israeli military operational freedom in south Lebanon as “speculation,” adding that he hasn’t seen such a clause in the proposal.

Lebanese parliament speaker Nabih Berri, who leads the Hezbollah-allied Amal party and is the interlocutor in talks with Hezbollah, has said that the proposal he received from the US does not include mention of Israeli military operational freedom in Lebanon, adding that the US knows that such a demand would be “unacceptable.”

State Department spokesperson Matthew Miller has said that “there has been an exchange of different ideas for how to see what we believe is in everyone’s interest, which is the full implementation of UN Security Council Resolution 1701.”

This post appeared first on cnn.com

NVIDIA Corporation (NASDAQ: NVDA) has faced turbulence since its third-quarter guidance failed to match the market’s lofty expectations. Despite the initial disappointment, analysts at Jefferies remain optimistic, highlighting strong demand for NVIDIA’s chips as a key driver of long-term growth.

In its Q3 earnings report on November 20, NVIDIA exceeded both revenue and earnings expectations but offered slightly above-consensus Q4 guidance, which left some investors underwhelmed. However, Jefferies believes the market is underestimating NVIDIA’s robust demand pipeline, positioning the stock favourably for significant growth through 2025 and beyond.

Key catalysts include the anticipated release of NVIDIA’s Blackwell chips, which are expected to see demand far outpacing supply for several quarters post-launch. Additionally, the Hopper architecture remains in strong demand and is likely to drive sales well into the first half of 2025. At the recent SC24 SuperCompute conference, Jefferies noted that only select lead customers and ODMs could secure NVIDIA’s products, underscoring the limited supply amidst red-hot demand.

With ongoing tailwinds from AI-driven computing needs and data centre expansion, NVIDIA remains a leader in the semiconductor space. Investors may consider near-term price fluctuations as opportunities, as the company’s long-term growth narrative appears solidly intact.

NVIDIA Stock Chart Analysis

NVDA/USD 15-Minute Chart

This chart displays the 15-minute candlestick performance of NVIDIA Corporation (NVDA) stock. The chart reveals a period of mixed volatility with an overall consolidation pattern near the $141–$142 price range. The price opened near $141.59 and showed minor upward momentum with a daily gain of 0.20%.

  1. Price Action: There was a notable intraday high spike to $142.12 before retracing back to a low of $140.70. The stock has been trading in a tight range recently, indicating reduced volatility toward the latter part of the session.
  2. Resistance & Support: Resistance appears at $142, as seen in the rejection at that level. Support is forming near $140.70, which has held well during the recent downturns.
  3. RSI Indicator: The RSI at 42.11 suggests the stock is approaching an oversold territory but hasn’t yet reached extreme levels. This indicates the potential for a reversal if buying pressure increases.

NVDA seems to be consolidating, with neither buyers nor sellers taking strong control. A breakout above $142 could signal bullish momentum, while a breakdown below $140.70 could trigger further downside. Traders should monitor volume and technical indicators for clearer signals.

The post NVIDIA Stock: Why NVDA Could Soar Through 2025 appeared first on FinanceBrokerage.

Adani Group shares experienced a rebound on Monday, recovering from last week’s steep losses sparked by U.S. criminal charges against Chairman Gautam Adani and other individuals. The recovery followed reassurances from CFO Jugeshinder Singh, who stated that none of the group’s publicly listed companies were implicated in the charges of bribery and fraud.

The flagship company, Adani Enterprises Ltd, rose 2.6%, reflecting renewed investor confidence. Adani Ports and Special Economic Zone gained 1.6%, while other group firms, including Adani Green Energy, Adani Wilmar, and Adani Power, saw gains ranging from 0.6% to 5%. This recovery aligns with a broader rebound in the Indian stock market, where the Nifty 50 index climbed 1.5% after hitting a five-month low last week.

The U.S. Securities and Exchange Commission’s summons and criminal indictment centered on allegations linked to one contract under Adani Green Energy, comprising about 10% of its business. Adani Group has dismissed the charges as “baseless,” reinforcing that the allegations do not extend to its other publicly listed firms.

The rebound suggests investors are cautiously optimistic, particularly as CFO Singh clarified the limited scope of the allegations. However, continued legal developments in the U.S. could pose risks, making Adani shares sensitive to future news.

Adani Enterprises Ltd. Stock Chart Analysis

ADANIENT/USD 15-Minute Chart

This chart depicts the 15-minute price movement of Adani Enterprises Ltd. (NSE: ADANIENT). The stock has exhibited significant volatility over the observed period, reflecting both sharp declines and subsequent recoveries.

  1. Price Action: The stock saw a steep sell-off from recent highs near ₹2,894.80, dropping to an intraday low of ₹2,025.00 before stabilizing. Currently, the price hovers around ₹2,308.55, suggesting consolidation after recent swings.
  2. Support & Resistance: Immediate support is evident near ₹2,025.00, as the stock found buying interest at this level. Resistance is seen near ₹2,400, where selling pressure could emerge if the price attempts a recovery.
  3. RSI Indicator: The RSI is currently at 59.92, showing improving momentum but not yet entering overbought territory. This indicates room for upward movement if buying pressure sustains.
  4. Recovery Signs: Following the sharp drop, the stock has shown a gradual recovery, with higher lows forming on the chart. However, the lack of strong volume signals caution among traders.

The stock’s current consolidation suggests a potential pause before its next move. A breakout above ₹2,400 could signal further recovery, while a fall below ₹2,200 may invite additional downside pressure. Traders should watch for sustained momentum and external factors influencing Adani Enterprises’ performance.

The post Adani Group Shares Recover as CFO Denies U.S. Bribery appeared first on FinanceBrokerage.

Alrosa (MCX:ALRS), Russia’s state-owned diamond miner, plans to suspend certain operations and reduce its workforce in 2025 as it confronts falling global diamond prices and the impact of international sanctions.

CEO Pavel Marinychev outlined the measures during an interview with local media in Yakutia, the company’s primary production hub, as reported by Reuters on Thursday (November 21).

The global diamond industry is experiencing a downturn, with Marinychev describing the situation as a ‘deep crisis.’

Prices for the gems have declined for the second consecutive year, a situation that Marinychev said has been further exacerbated for Alrosa by sanctions from the G7 nations and EU. Together, they instituted a direct ban on Russian diamond imports at the start of 2024, and added an indirect ban at the beginning of March.

Alrosa is targeting a 10 percent reduction in labor costs next year, which will affect its 35,000 employees.

Marinychev stated that areas of production deemed less profitable will be paused, though operations in these regions could be resumed swiftly if diamond market conditions improve. ‘We are currently in a rather difficult situation. Our task is to endure and wait out this period, to wait for prices to start rising again,’ he explained.

The company has not published sales data since 2022, the year Russia launched its invasion of Ukraine.

The Russian government, which occasionally buys diamonds from Alrosa to support the industry, plans to continue these purchases in 2025. Deputy Finance Minister Alexei Moiseev confirmed that the government’s budget for 2025 to 2027 includes US$1.55 billion allocated for acquiring precious metals and gemstones.

This measure is intended to stabilize the diamond market and alleviate pressure from oversupply.

Given the diamond market’s challenges, Alrosa has sought to diversify its revenue. In July, the company finalized the acquisition of the Degdekan gold ore field in Russia’s Magadan region through its subsidiary, Almazy Anabara.

The US$276 million purchase, part of a broader strategy to enhance financial stability, marks Alrosa’s entry into the gold sector. Degdekan is expected to yield approximately 3.3 metric tons of gold annually starting in 2030.

Alrosa’s investment in the project underscores its intention to leverage synergies within its mining operations while reducing dependency on diamond revenue, particularly in light of sanctions targeting its primary export markets.

While diversifying into gold mining, Alrosa remains committed to its core operations in diamond production.

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

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First Helium Inc. (‘First Helium’ or the ‘Company’) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has completed its field survey activities and selected the surface location for its Leduc anomaly test well planned for drilling this winter. The survey will be used to prepare necessary regulatory applications for drilling approval. The well location has been selected based on a thorough evaluation of recently acquired proprietary 3D seismic data where the Company has identified a significant anomaly in the Leduc Formation which it believes to be prospective for oil. To date, the Company has drilled two successful Leduc oil wells at Worsley, including the 1-30 and 4-29 Leduc oil pool discoveries, respectively, which together have produced more than 113,000 barrels of light oil, generating in excess of $13 million in revenue and $8 million in cash flow.

‘The completion of our recent financing will allow us to proceed with a number of operations this winter, which include testing the large 3D seismic anomaly targeting Leduc oil, and completing the previously drilled Blue Ridge horizontal well targeting helium-enriched natural gas. If successful, these operations will set the stage for immediate cash flow for the Company, coupled with the accelerated development of oil and helium enriched natural gas at Worsley, executed alone or with larger partners,’ said Ed Bereznicki, President & CEO of First Helium.

‘These operations represent a very important next step for the Company in de-risking the Leduc and Blue Ridge plays, respectively. Each has the potential to unlock significant, follow up development drilling on the Company’s 53,000-acre, 100% owned land base’, added Mr. Bereznicki.

Highlights of the Worsley Winter Program

This winter, the Company is planning to undertake a number of significant operations at Worsley, including:

Leduc Formation:

  • The Company has also selected surface locations on three additional Leduc drill targets identified on proprietary 3D seismic, including one drilling location (‘7-30’) which was assigned ‘proved plus probable undeveloped’ oil reserves of 196,700 barrels 1 by Sproule, its independent evaluator. Depending on timing, and capital availability, the Company may elect to pursue one or more of these additional Leduc drill targets.

Figure 1:

First Helium Worsley Proprietary 3D Seismic Leduc Interpretation

Blue Ridge Formation:

  • Completion and testing of the previously drilled 5-27 horizontal Blue Ridge well is planned (see Figure 2) to establish a repeatable, high margin, helium-enriched natural gas play targeted to deliver significant volumes of helium gas production. The project’s potential scale and enhanced profitability will serve to attract partnership opportunities.

Figure 2:

West Helium Worsley Blue Ridge Development Scenario

Together, the vertical Leduc play, along with the Blue Ridge play combine to provide tremendous opportunity for scalability and future growth, all on existing (100 per-cent) Company held lands. Given the large potential opportunity of the Worsley project, the Company will continue to explore potential partnerships to accelerate the development of its rich asset base.

Notes:
(1) Gross Proved plus Probable Undeveloped reserves, per Sproule Associates Limited (‘Sproule’), Evaluation of the P&NG Reserves of First Helium Inc. in the Beaton Area of Alberta (as of March 31, 2023).   See First Helium’s SEDAR+ profile at www.sedarplus.ca .

ABOUT First Helium

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.

First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.

Building on its successful 15-25 helium discovery well at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium’s ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company’s Worsley land base.

For more information about the Company, please visit www.firsthelium.com .

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

CONTACT INFORMATION

First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate’, ‘plan’, ‘continue’, ‘expect’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘predict’, ‘potential’ and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, 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 from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE: First Helium Inc.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/bf8b83dd-ca0e-42a0-94fc-99b981ae9347

https://www.globenewswire.com/NewsRoom/AttachmentNg/d4b00224-de76-498d-801f-d7c2b03ce12d

News Provided by GlobeNewswire via QuoteMedia

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