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December 24, 2024

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In today’s free DecisionPoint Trading Room Carl discusses volume spikes and how we have to analyze big volume spikes carefully to determine whether they express a confirmation of a move or whether they are a special case and do not really provide insight.

Carl goes over the signal tables and notes there are quite a few signals getting ready to change. The Bias Table reveals short-term weakness.

A complete market review follows with a look at the SPY and all the relevant DP indicators. Carl covers not only the market, but also the Dollar, Gold, Bitcoin, Crude Oil, Yields and Bonds among other asset classes.

After market coverage, Carl walks us through the Magnificent Seven’s charts to find strength and weakness in the short and intermediate terms with a look at both the daily and weekly charts.

Erin takes the show over and covers the current configuration of the sectors to determine where sector rotation is occurring. Defensive areas of the market are not performing very well so investors don’t seem to be hedging bets just yet.

The pair finish the program with a review of viewers symbol requests that included AMD, AVGO and PLTR.

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01:12 DP Signal Tables

03: 50 Market Overview (05:16 – Volume Spikes)

15:05 Magnificent Seven

23:26 Questions

30:20 Sector Rotation

39:34 Symbol Requests


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


(c) Copyright 2024 DecisionPoint.com


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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


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Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

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

ITBM and ITVM

SCTR Ranking

Bear Market Rules


When quickly glancing at the StockCharts Technical Rank (SCTR) Reports Dashboard panel, one stock that popped up on Monday, albiet briefly, was Meta Platforms, Inc. (META). The stock has a year-to-date performance of over 70% according to the StockCharts Symbol Summary page and, after its recent pullback, the stock could be one to consider adding to your portfolio. You can gain exposure to META either with the underlying or via options.

Analyzing META’s Stock Chart

The weekly chart below shows the uptrend in META stock is at a crossroads — it could go up or down. The stock is trading above its 21-day exponential moving average (EMA), the SCTR score is at 79 — it has crossed above my 76 threshold level — and the relative strength index (RSI) has been moving sideways between the 50 and 70 levels since April 2024.

FIGURE 1. WEEKLY CHART OF META STOCK PRICE. The stock is in an uptrend with a rising SCTR score. The RSI needs to move higher to indicate rising momentum.Chart source: StockCharts.com. For educational purposes.

Turning to the daily chart, META pulled back from its all-time high and could be ready for a reversal to the upside. Last Friday, the stock closed at its 50-day SMA and bounced higher from there on Monday. It closed shy of $600 per share, at the top of its daily range. These are early signs of an upside move, but the SMA appears to be flattening.

FIGURE 2. DAILY CHART OF META STOCK. The uptrend isn’t obvious on the daily chart; META’s stock price could go in either direction. The PPO in the lower panel needs to show bullish momentum and there needs to be upside follow-through in price to confirm a reversal to the upside.Chart source: StockCharts.com. For educational purposes.

The trading volume is relatively low, but, given it’s a short holiday week, it’s probably not a good representation of momentum. The percentage price oscillator (PPO) is still negative. There should be upside follow-through in META’s stock price, which could result in the shorter moving average crossing above the longer moving average in the PPO. This would confirm a bullish reversal.

META is in a spot where the price could move in either direction. The stock is trading between its 50-day SMA and a resistance level it hit twice in October. A break below the 50-day SMA would mean watching the $575 level, its next support level. This coincides with its December 2 breakout and previous support and resistance levels. Two lower support levels are its 100-day SMA and the $550 level.

If META’s stock price were to reverse and move higher, its price point of around $600 a share would be steep. Buying 50 shares will cost you about $30,000. An alternative would be to consider options on META.

Options Trade Ideas for META

Looking at the OptionsPlay Explorer (click Options under Tools & Resources in the menu to the left of the chart, then the OptionsPlay button), buying a Feb 21 595/695 call vertical spread would cost $3,335 and have a potential return of almost 200%. But this can change, so you want to monitor any open position carefully.

FIGURE 3. A CALL VERTICAL SPREAD FOR META. The return of 199.85% is respectable, but remember, things change especially as the option approaches expiration so you still need to monitor your trade carefully.Image source: OptionsPlay Strategy Center from StockCharts.com. For educational purposes.

The biggest risk with this trade is META will report earnings before expiration. With a stock like META, volatility tends to be high ahead of earnings, which could drastically impact your trading results. In such a scenario, you have several choices. You could close the position before expiration, especially if you’ve made a decent profit; you could roll the trade to a further expiration; or you could modify the trade and select an expiration date before the earnings report. Click the Modify button and change the expiration dates and/or strike prices of the legs.

If META’s stock price moves lower, consider applying bearish options strategies. Click the bearish button above the risk graphs to see the three optimal strategies to apply. Buying a Feb 21 600/505 put vertical would generate a return of over 200%, with the trade costing you $2,875.

Options are very flexible instruments, and your cash outlay is much lower than buying shares of META. Regardless of which way META’s price moves, there’s an options strategy you can apply.  So add META to your ChartLists and, if you have an options-enabled trading account, it’s worth exploring the OptionsPlay Strategy Center on StockCharts.com.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Cannabis is becoming increasingly mainstream in North America.

Recent Pew Research Center analysis reveals that most Americans now live in states where recreational cannabis is legal, and a remarkable 79 percent have at least one dispensary in their county.

However, federal legalization remains elusive, creating questions for investors watching the space.

Meanwhile, in Canada, companies are looking to the government for stronger support.

US rescheduling stalls, Canadian companies face challenges

The US cannabis sector saw excitement in May, when the US Department of Justice proposed that the drug be rescheduled from a Schedule I substance to a Schedule III substance. The US Drug Enforcement Administration (DEA) formally initiated the process in August, and a hearing was scheduled for December 2.

However, this was later clarified to be a preliminary hearing focused on procedural matters and without witness testimony. The clarification came after Chief Administrative Law Judge John Mulrooney II challenged the process by which the DEA selected its witnesses, requesting more information on the qualifications of those set to testify.

Heading into 2025, the outlook for US cannabis reform remains uncertain, particularly when it comes to the timing and likelihood of rescheduling. The process is now not expected to be finalized until late 2025.

Also in the US, the long-awaited SAFER Banking Act failed to gain enough support from the Senate to pass, leaving cannabis businesses with limited access to traditional banking services.

The Canadian cannabis market faced a setback as well this past year when the federal budget failed to address industry concerns, particularly the high excise tax that continues to eat into profits. Instead, Health Canada proposed a series of changes to the country’s cannabis regulations in June to streamline operations and reduce costs.

The changes include simplifying licensing, production and security clearance requirements, increasing production limits for “micro-cultivators” and making it easier for licensees to submit required reports to Health Canada.

Health Canada is currently considering comments after a public consultation period that ended in July.

US state cannabis market developments

While cannabis rescheduling stalled in the US, state markets saw more movement.

Ohio launches recreational sales

Ohiolaunched recreational cannabis sales on August 6, marking the only new state market for the year.

Its entry into the legal cannabis arena is expected to generate significant economic activity, tax revenue and job creation within the state. Recreational sales reportedly topped US$131 million in less than three months.

Kentucky legalizes medical cannabis

Kentucky’s cannabis market also saw developments in 2024 with the legalization of medical cannabis and the establishment of a regulatory framework for cultivation and distribution.

However, the rollout of the program faced challenges and mixed reactions.

The state established a limited licensing system, with a set number of licenses to be issued for cultivators, processors and dispensaries. Due to the limited number of licenses and high demand, a lottery system was used to determine who would receive licenses. At the same time, cities and counties were given the ability to opt out of allowing cannabis businesses to operate within their borders. This has led to some jurisdictions prohibiting dispensaries or other cannabis-related businesses, and has resulted in a slow rollout for medical cannabis in Kentucky.

New York’s recreational rollout stalls

New York’s recreational cannabis market experienced growth in 2024, but the slow rollout of legal dispensaries allowed the illicit market to remain competitive. The state’s cannabis control board has increased its efforts to crack down on illegal sales, but problems with unlicensed retailers persist.

Adding to the state’s legal woes, on December 4, the Medical Cannabis Industry Association sued cannabis regulators over an “unconstitutional” and “onerous” US$20 million fee imposed by the state for medical licensees looking to cross into the recreational market. The group also highlights that New York is losing tax revenue.

Election brings mixed results

November saw mixed results for US states with cannabis legalization on the ballot. Nebraska was the only state to legalize recreational cannabis, while Florida, North Dakota, South Dakota and Arkansas maintained prohibition.

How did major cannabis players perform in 2024?

2024 tested the resilience of cannabis companies and investors.

In its review of the year, the Panther Group mentions how it had to pivot, focusing its resources on the top 20 percent of the market — “the stable, scalable operators who are critical to the industry’s long-term health.”

Here’s a look at what some of the industry’s biggest players did in 2024 and how they performed.

SNDL (NASDAQ:SNDL), which owns and operates a network of cannabis retail stores across Canada, has seen share price growth in 2024, up 17.09 percent year-to-date as of December 23.

The company’s most recent quarterly report, released on November 5, projects positive free cashflow for 2024. Notably, SNDL’s liquor retail segment has shown improved profitability, with operating income increasing by 42.5 percent year-on-year during the third quarter despite a minor decrease in revenue.

Trulieve (CSE:TRUL,OTCQX:TCNNF), which commands a significant share of the Florida market, saw share price momentum earlier in 2024, but is set to end the year flat. The company focused on expanding its retail footprint this past year, with a substantial number of new dispensaries opening, primarily in Florida.

Tilray (NASDAQ:TLRY,TSX:TLRY) demonstrated progress this year in both achieving profitability and capitalizing on its diversified business model. Its October 10 report for its first fiscal quarter of 2025 shows its net loss is improving, with healthy margins for its beverage alcohol, cannabis and wellness segments.

This success, coupled with overall increased efficiency and gross profit, has Tilray projecting positive free cashflow for the year, a significant milestone in the cannabis industry. On November 7, the company also reported positive trial results for an oral cannabis extract for chemotherapy-induced nausea and vomiting.

Despite a dip in overall Canadian cannabis revenue in its second fiscal quarter of 2025, Canopy Growth’s (NASDAQ:CGC,TSX:WEED) medical cannabis sales jumped 16 percent compared to the same period last year, while adult-use sales faced a temporary setback. The company’s US division also completed its acquisition of Acreage Holdings, a US-based multi-state operator with a strong presence in New York.

Canopy Growth’s international business delivered an especially strong performance in Q2, with a 12 percent year-on-year increase in revenue growth, driven by markets in Poland and Germany. In particular, its Storz & Bickel vaporizer brand saw a significant boost of 32 percent thanks to regulatory changes in Germany and increased US sales.

Strategic partnerships with EU-based cultivators helped the company establish a foothold in Europe.

Investor takeaway

The US cannabis industry is navigating a complex landscape of opportunities and challenges. While market expansion and increased mainstream acceptance drive growth, regulatory hurdles and financial pressures persist.

As the industry matures, companies that can adapt to changing regulations, demonstrate profitability and meet evolving consumer demands are likely to emerge as leaders in this dynamic market.

While the Canadian cannabis market has progressed further, work remains if it is to fully flourish.

Overall, the future of the cannabis industry will depend on ongoing legal reforms, technological advancements and consumer trends, making it a sector to watch closely in the coming years.

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

This post appeared first on investingnews.com

Copper prices saw significant momentum in the first half of the year, surging above the US$10,000 per metric ton mark on the London Metals Exchange.

Although prices have retraced to around the US$9,400 mark, they remain elevated in comparison to prices in 2023.

Support for the metal has come from a combination of factors including increasing demand from energy transition sectors that is coming alongside strained supply due to underdevelopment and geopolitical issues.

How have these dynamics affected small-cap copper explorers on the TSXV? Below are the five best-performing junior copper stocks since the start of 2024. Data for this article was gathered on October 16, using TradingView’s stock screener, and all companies had market caps of over C$10 million at that time.

1. Koryx Copper (TSXV:KRY)

Company Profile

Year-to-date gain: 388.89 percent
Market cap: C$62.28 million
Share price: C$1.10

Koryx Copper is focused on the advancement of copper exploration projects in Namibia and Zambia. Its flagship asset is the Haib copper project located in Southern Namibia near the border with South Africa.

In an amended preliminary economic assessment released on January 8, the company indicated 20 million metric tons per year of ore processing with 85 percent copper recovery for a yearly production of 38,337 metric tons of copper and an additional 51,081 metric tons of copper sulfate.

Since the start of 2024, Koryx has published several assay results from exploration at Haib, the most recent came on August 8 when the company provided final results from its 2024 drill program. In the announcement, the company highlighted near-surface grades of 0.30 percent copper over 44 meters, including an intersection of 0.5 percent copper over 8 meters.

Company President and CEO Pierre Léveillé said the program demonstrates that the deposit can deliver grades over 0.3 percent copper for substantial width in the project area. He also said the results indicate above average grades in the outer limits of the deposit.

Following the final results, Koryx released an updated mineral resource estimate from Haib on September 10. The announcement reported indicated resources of 1.46 million metric tons (MT) contained copper from 414 million MT of ore at an average grade of 0.35 percent along with additional inferred resources of 1.14 million MT of copper from 345 million MT of ore at 0.33 percent.

The most recent news from Koryx came on October 15 when it announced it had closed an oversubscribed first tranche of its non-brokered private placement. The company said it had raised C$9.67 million in funding for the sale of 8.79 million common shares and would be increasing the size of the offering up to C$17 million. Koryx noted that the second tranche was fully subscribed and would be closing shortly.

Funds raised will be used to advance the Haib copper project and the Luanshya West copper-cobalt project in Zambia as well as general working capital purposes.

Shares of Koryx reached a year-to-date high of C$1.24 on September 24.

2. Sandfire Resources America (TSXV:SFR)

Company Profile

Year-to-date gain: 244.44 percent
Market cap: C$317.24 million
Share price: C$0.31

Sandfire Resources America is a copper development company focused on its Black Butte copper project located east of Helena, Montana, in the US. In 2021, a state district court revoked the company’s mine operating permit for Black Butte, halting construction activities of the underground mine.

Sandfire describes the project as one of the highest grade undeveloped copper deposits in the world; a resource estimate for the project’s Johnny Lee deposit completed in 2020 reported measured and indicated resources of 10.9 million metric tons grading 2.9 percent copper for a total of 311,000 MT contained copper.

Shares of Sandfire soared following a February 26 decision by the Montana Supreme Court to reinstate the company’s mine operating permit. The win is a crucial step for it to continue the construction of its mine.

Sandfire is working to improve Black Butte’s economics as it works towards a final investment decision. The most recent update from the project came on July 25, when the company released an exploration update that highlighted high-grade copper intercepts of 12.8 percent copper over 13.2 meters.

Although, much of Sandfire’s focus in 2024 has been on the exploration and development of Black Butte, the company also has two copper-producing assets: Motheo in the Kalahari Copper Belt in Botswana and MATSA in the Iberian Pyrite Belt in Spain. In the company’s FY24 report released on August 29, Sandfire reported that it produced 109,000 MT of copper equivalent during the fiscal year, an increase of 47 percent over FY23.

Shares of Sandfire reached a year-to-date high of C$0.395 on May 12.

3. T2 Metals (TSXV:TWO)

Company Profile

Year-to-date gain: 234.78 percent
Market cap: C$15.93 million
Share price: C$0.385

T2 Metals is a copper exploration company that has spent 2024 focusing on advancing its Sherridon copper, gold and zinc project near Flin Flon, Manitoba, Canada.

The property consists of 28 mining claims and one mineral lease over 4968 hectares, with T2 holding an option agreement with Halo Resources for a 90 percent earn-in stake. The site was home to the Sherridon/Sherritt Gordon mine, which was in operation until 1955 and milled 7.55 million MT of ore with an average grade of 2.46 percent copper.

Today, Sherridon hosts several inferred resources with near-surface targets having been identified with limited drilling activity.

T2 has been exploring Sherridon in 2024, with the latest update coming on October 3 when it announced it had completed the summer/fall phase of its core drilling program, consisting of 2,180 meters across eight holes. The remaining 1,800 meters will be carried out in the first quarter of 2025 after the ground freezes.

The completion of summer drilling marked an expenditure milestone for T2 in its option agreement. The company now owns an 80 percent stake in Sherridon.

In addition to its work at Sherridon, T2 reported on September 18 that it had completed a follow up sampling and mapping at its early stage Copper Eagle project located in Douglas County, Nevada, US, and is awaiting results. Its past samples from the site indicated high sulfidation with elevated tellurium, selenium, antimony, copper and gold.

Share prices in T2 reached a year-to-date high of C$0.395 on October 14.

4. Hannan Metals (TSXV:HAN)

Press ReleasesCompany Profile

Year-to-date gain: 211.11 percent
Market cap: C$68.65 million
Share price: C$0.56

Explorer Hannan Metals is focused on advancing gold, silver and copper deposits in Latin America.

The San Martin project is a joint venture with the Japan Organization for Metals and Energy Security (JOGMEC), a Japanese government agency established in 2004 to secure stable resources and fuel supplies. Under the terms of the agreement, JOGMEC can earn up to a 75 percent stake in the project if all its funding goals are met.

The site is located northeast of Tarapoto, Peru, and hosts a copper and silver system with 120 kilometers of combined strike. Exploration has shown grades at the Tabalosos target of 4.9 percent copper and 62 grams per metric ton (g/t) silver over 2 meters.

In addition to the JOGMEC joint venture, Hannan wholly owns the Valiente project, which hosts a previously unknown porphyry and epithermal mineralized belt within a 140 kilometer by 50 kilometer area containing copper, gold, molybdenum and silver.

Results from two channel samples were reported in early August confirming extensive leached copper mineralization at the Previsto Central prospect. The two channels, separated by 700 meters, had grades of 0.22 percent copper over 126 meters and 0.16 percent copper over 192 meters. Hannah said the results continue to further their understanding of the mineralization system, with gold-rich areas at higher elevations that transition into copper-rich areas at lower elevations.

This was followed by news on October 8 that the company completed the first stage of an induced polarization geophysical survey at the Previsto prospect. Combined with its other data, the results confirm a 6 kilometer by 6 kilometer copper and gold porphyry epithermal mineralization system. Hannan said the survey identified seven high priority targets that the company is now evaluating for drilling.

Shares in Hannan reached a year-to-date high of C$0.63 on July 22.

5. Awalé Resources (TSXV:ARIC)

Press ReleasesCompany Profile

Year-to-date gain: 207.14 percent
Market cap: C$39.06 million
Share price: C$0.43

Awalé Resources is a copper and gold explorer focused on its Odienné project in Côte D’Ivoire.

The site, located in the country’s northwest, covers an area of 2,462 square kilometers across two granted permits and five under application; two are being advanced as part of an earn-in joint venture with Newmont (TSX:NGT,NYSE:NEM). Newmont has the chance to earn up to 65 percent ownership of the permits via exploration expenditures of US$15 million.

On May 15, Awalé announced it had advanced to the second phase of its earn-in agreement. The completion of phase 1 of the agreement comes after it had carried out drilling at the Charger and BBM targets during early 2024 exploration programs.

To earn the final 14 percent of the earn-in agreement requires Newmont to fund an additional US$10 million toward exploration of the project. Company CEO Andrew Chubb said that Awalé is on good footing to deliver exploration success between the funding from Newmont and Awalé’s C$11.5 million bought-deal equity financing closed on May 8.

Awalé has delivered several exploration announcements in 2024, the latest coming on September 9, when it reported highlighted assays of 0.48 percent copper over 35 meters, including an intersection of 0.6 percent copper over 23 meters at the BBM zone.

Shares in Awalé reached a year-to-date high of C$0.98 on March 25.

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

This post appeared first on investingnews.com

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) (‘Lode Gold ‘ or the ‘Company’) is pleased to announce a non-brokered financing for $350,000 by issuing 1,944,444 units at $0.18 per unit.

Each $0.18 unit shall consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share for a period of three years following the date of closing.

The company may accelerate the expiry date if the shares trade at $0.65 or more for a period of 10 days, including days where no trading occurs. The closing of the offering is expected to occur one business day following receipt of all required regulatory approvals.

The proceeds raised from the offering will go towards corporate purposes as well as general working capital. The company will pay finder’s fees to eligible arm’s-length persons with respect to subscriptions accepted by the company.

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 420 km2 and a 42 km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold’s Queensway Project. Riley Brook is a 309 km2 package covering a 25 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.

In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 8 g/t Au in the 1940’s.

Mining was halted in 1942 due the gold prohibition in WWII just as it was ramping up production. Unlike typical brownfield projects that are mined out; only 11% of the veins – in 2 out of 7 deposits have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont.

The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment (‘PEA’). Project Valuation has an after-tax NPV (5%) of USD $370M at $2000 2 /oz gold, IRR 31% and an 11-year LOM, averaging 118,000 oz per year. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized.

All NI 43-101 technical reports are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com).

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology – UCT), FAusIMM, and who is a ‘qualified person’ as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

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

Cautionary Statement Regarding Forward-Looking Information

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

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235034

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Overview

Metals Australia (ASX:MLS) is a mineral exploration company with a high-quality portfolio of advanced battery minerals and metals projects in Tier 1 mining jurisdictions of Western Australia and Canada. The portfolio comprises two critical minerals projects in Quebec, Canada — the Lac Carheil flake graphite project and the Corvette River lithium (and gold) project. The Australian portfolio comprises four projects: Tennant Creek (copper-gold) in the Northern Territory and Warrambie (lithium, nickel-copper, gold), Murchison (gold) and Manindi (lithium, vanadium-titanium, zinc) – all in Western Australia.

The push for net zero targets and the call from policymakers to transition to cleaner energy has intensified the focus on electric vehicles (EVs) and battery storage. The EV automakers and battery manufacturers, rely on essential materials such as graphite and metals, including lithium, nickel, copper and cobalt, to manufacture the batteries that are used in these vehicles and storage batteries generally. This has driven carmakers and battery manufacturers to partner with battery material suppliers under direct off-take agreements. Further, some automakers/battery manufacturers are buying equity stakes in miners, involving them directly in financing decisions for the development of mining projects. This is encouraging for companies such as Metals Australia as it actively advances its projects towards development.

Figure 2 – Graphite is a Critical Mineral required for the mass electrification of auto transportation.

Metals Australia is focused on progressing its flagship Lac Carheil flake graphite project in Quebec, Canada. The project is well-positioned to supply high quality graphite products, including battery-grade graphite to the North American market – including for lithium-ion and EV battery production in the future. The company announced positive sampling results across a 36-km strike length of identified graphite trends at Lac Carheil, including many values over 20% Cg and an exceptionally high-grade sample containing over 63% Cg. The company has planned a drilling program to test new high-grade zones identified from the sampling program, which will form the basis for upgrading the existing Lac Carheil Mineral Resource. An application for the drilling program is progressing with the Quebec regulator. Additionally, the company has recently commenced a Flake Graphite concentrate prefeasibility study with Lycopodium in Ontario and a downstream battery anode plant design with ANZAPLAN in Germany.

Metals Australia is also advancing its lithium, gold and silver exploration project at Corvette River, which is adjacent to Patriot Battery Metals’ world-class lithium project. Further, the company carries out aggressive exploration programs at its other projects, including Manindi, Warrambie & the Murchison in Western Australia and Tennant Creek in the Northern Territory region of Australia.

Metals Australia is well-funded to complete all its planned exploration and project studies. The cash position at the end of Q1 2024 was AU$17.86 million, which we note was higher than the company’s market capital at current share price. Metals Australia benefits from a team of professionals boasting extensive expertise in geology and mining. The appointment of experienced mining executive Paul Ferguson as the CEO is positive for the company. Since joining in January 2024, he has significantly advanced planning and preparation for the exploration, metallurgical test work programs, and design studies required to move its flagship Lac Carheil high-grade graphite project towards development. The Corvette Project has also completed exploration planning and is now fully permitted for drilling and trenching work during the northern hemisphere summer.

Company Highlights

  • Metals Australia is rapidly advancing its flag ship Lac Carheil Graphite Project in Quebec, Canada. In addition, the company has a suite of high-quality exploration projects – including Lithium, Gold and Silver in Quebec, Canada and Lithium, Gold, Copper & Vanadium in Western Australia (WA) and the Northern Territory (NT).
  • All projects are in Tier-1 mining jurisdictions (Canada and Australia) with world-class prospectivity and stable geo-politically.
  • The company has six key exploration and development projects:
  • two in Canada: the Lac Carheil high-grade flake graphite project and the Corvette River lithium and gold-silver-copper exploration project, and,
  • four in Australia: Warrambie (lithium, nickel-copper, gold), Murchison (gold) and Manindi (lithium, vanadium-titanium, zinc-silver) in WA, and Tennant Creek (Warrego East copper-gold) in the NT.
  • The focus is to rapidly advance its flagship Lac Carheil Graphite Project towards development. A drilling program is already contracted to substantially increase the existing JORC 2012 Mineral Resource of 13.3 Mt @ 11.5 percent graphitic carbon (Cg) and test the potential of the many other identified high-grade graphite trends.
  • The 2020 Scoping Study on Lac Carheil based on the existing resource, representing only 1km of drilling out of the total 36kms of identified graphite trends, indicates a 14-year mine life with a production of 100,000 tons per annum and a pre-tax NPV @ 8 percent of US$123 million (~AUD$190 million).
  • Furthermore, other projects in Canada including the Corvette River lithium and gold targets, and exploration in Australia at Manindi, Warrambie, Murchison and Warrego – are all seeing active progress.
  • The company is well-funded to complete all its planned exploration and project studies. The cash position at the end of Q1 2024 was AU$17.86 million.
  • Metals Australia is led by a seasoned board and management team possessing extensive mining sector experience and a proven track record of successful discoveries and project developments. With funding in place, the company is well-positioned to capitalise on growth prospects.

Figure 1 – Location of Metals Australia’s projects in the Tier 1 Mining Jurisdictions in Quebec, Canada and Australia’s Western Australia and the Northern Territory.

Key Projects

Canada

Lac Carheil Flake Graphite Project (MLS 100%)

Conceptual 3D Mining layout from February 2021 Scoping Study (Lac Carheil Project formerly named Lac Rainy Project)

The Lac Carheil Graphite Project is located in eastern Quebec, Canada, a tier 1 mining jurisdiction with access to excellent infrastructure, including hydroelectric power facilities. The project hosts an existing JORC 2012 mineral resource of 13.3 million tons (Mt) @ 11.5 percent graphitic carbon, which was announced in 2020 and a scoping study was completed and reported on in early 2021. Battery test work followed, in Germany, and this demonstrated the Lac Carheil Graphite concentrate could be shaped, purified, coated and used in battery applications with excellent results. Given the above work, the company carried out further field work, recently announcing exceptionally high-grade sampling results from 80 samples on 10 identified graphitic trends across the property. This included a sample containing 63 percent graphitic carbon, and 10 samples containing over 20% Cg. The average grade of the sampling was 11% Cg, which is comparable to the current high-grade resource. The combined strike length of the identified high-grade graphitic zones is over 36 kms. This compares to just 1 km of drilling on 1.6 kms of graphite trend that was utilised to obtain the existing resource. The potential for expanding and upgrading the existing resource remains enormous.

Figure 4 –Lac Carheil Graphite Project – Electromagnetic imagery outlining graphite trends and the resource

Additional drilling and development studies are either planned or are already underway, including a pre-feasibility study for a high grade Flake graphite concentrate product – which has commenced and a downstream purification options assessment and a scoping study for a battery anode facility in North America, which has been contracted. The company also announced it is contract ready for its planned drilling program and will fast-track the program as soon as permits are received from the Quebec regulator.

Corvette River Lithium Project (MLS 100%)

Corvette River Lithium, gold and silver Project is located in Quebec’s James Bay region Metals Australia recently announced that it is fully permitted to advance an extensive field exploration program across its holdings which include the wholly owned East Pontois, Felicie and West Pontois projects, situated within Patriot Battery Metals’ (ASX:PMT) CV Lithium Trend, as well as tenements at West and East Eade in the company’s parallel Corvette River South Trend. A field mapping and sampling program concluded last year and identified large, potentially lithium-bearing pegmatites immediately along strike from Patriot Battery Metals’ world-class lithium pegmatite discoveries. Additionally, the company has flagged significant gold and silver samples from its review of work previously completed across the field as is illustrated in the diagram below.

Figure 5 – The Corvette Projects in the James Bay region of Canada. Prospective for Lithium, Gold & Silver

Australian Projects

Warrambie Project (MLS 80%)

The Warrambie project is located in the Pilbara region of Western Australia. It is 20 kms west of the Andover Lithium discovery (Azure Minerals (ASX:AZS). Metals Australia has completed geophysical surveys across the area and is identifying targets for further field exploration and drilling.

Warrego East Project (MLS 80%)

Metals Australia acquired the tenements as part of a package purchased from Payne Gully Gold in 2022. The company’s tenements include a granted exploration license (E32725) directly along strike to the east of the Warrego copper-gold deposit, which has a production of 1.45 Million Ounces of gold at 8 grams per tonne and over 90,000 tonnes of Copper at 2%. The Warrego mine operated from the late 1950’s through until 1989. It was found under sedimentary cover. The area and this land package is under detailed review utilizing available geophysical surveys. The company aims to identify further targets hidden under shallow sediment cover.

Big Bell North Project (MLS 80%)

The Murchison tenements were also acquired as part of the Payne Gully Gold transaction. Metals Australia owns exploration licenses at the Murchison gold project, which is adjacent to the >5 million ounces (Moz) Big Bell gold deposit. The company plans to conduct detailed magnetics and gravity surveys to test for extensions and repeats of high-grade gold deposits.

Manindi Project (MLS 80%)

The Manindi project is located in the Murchison District, approximately 500 kms northeast of Perth in Western Australia. The project comprises three mining leases and has an established high-grade zinc mineral resource. The metallurgical test work has located spodumene in samples from a high-grade lithium intersection of 12m @ 1.38 percent lithium oxide, including 3m @ 2.12 percent lithium oxide. The company also made a new vanadium-titanium discovery at the Manindi project.

Management Team

Paul Ferguson – Chief Executive Officer

A Mining Engineer, Paul Ferguson has over three decades of experience in the resources and energy sectors across North America, Asia and Australia. He has extensive project development and operational experience working in Canada. He has worked in oil & gas major ExxonMobil across project stages, including feasibility, design, construction, and operation. He has worked in Executive level roles within Australia, including at GMA Garnet and held increasingly more senior roles with BHP (Iron Ore & Coking Coal) and then with Exxon Coal Minerals and Mobil Oil Australia during the early stages of his career.

Tanya Newby – CFO and Joint Company Secretary

Tanya Newby is a finance and governance professional with over 20 years experience in various corporate and commercial roles. She has a strong background in the resources sector and has provided financial advice and assistance to a number of publicly listed entities through exploration, project development through to the production stage. Tanya is a member of the Institute of Chartered Accountants, Member of the Governance Institute of Australia and a Graduate Member of the Institute of Company Directors.

Michael Muhling – Joint Company Secretary

Michael Muhling has over two decades of experience in the resources, including 15 years in senior roles with ASX-listed companies. He is a fellow of CPA Australia, The Chartered Governance Institute, and the Governance Institute of Australia.

John Dugdale – Technical Advisor

John Dugdale is a geologist with over 35 years of experience in the discovery and development of graphite, lithium, gold, nickel and copper projects. His corporate experience includes serving as a director and CEO of several junior resource companies focused on nickel-cobalt, graphite and copper-gold projects. Additionally, he has experience in funds management with Lion Selection Group.

Chris Ramsay – General Manager Geology

Chris Ramsay is a geologist and project manager with over 25 years of experience in the global mining industry. He has been involved in exploration, mine development and operations for mining projects in Australasia, Southeast Asia, and parts of Africa and North America.

Board

Michael Scivolo – Non-executive Chairman

Michael Scivolo has extensive accounting and taxation experience for corporate and non-corporate entities. He was a partner/director at a CPA firm until 2011 and has since been consulting in accounting and taxation. Scivolo is on the boards of several ASX-listed mining companies, including Sabre Resources, Golden Deeps and Tennant Minerals Ltd.

Alexander Biggs – Non-executive Director

Alexander Biggs has over 20 years of experience in the mining and engineering sector. During his career, he has been involved in various activities, including operations, consulting, finance and capital raising. He is currently the managing director of Lightning Minerals (ASX) and was previously the managing director of Critical Resources (ASX:CRR). Biggs is a member of the Australian Institute of Mining and Metallurgy and a graduate of the Western Australian School of Mines.

Rachelle Domansky – Non-executive Director

Rachelle Domansky is an ESG specialist and a consulting psychologist for businesses, governments and educational institutions in the Asia-Pacific region. In addition to Metals Australia, Rachelle holds non-executive board positions at Quebec Lithium and Access Plus WA Deaf.

Basil Conti – Non-executive Director

Basil Conti has been associated with the mining industry for over 25 years. He is a fellow of the Institute of Chartered Accountants Australia & NZ and was a partner/director of a chartered accounting firm in West Perth until 2015.

This post appeared first on investingnews.com

The 2024, the oil market experienced notable fluctuations influenced by global economic trends and geopolitical events. Early in the year, prices remained relatively stable, with Brent crude averaging around US$80 per barrel.

However, as the year progressed, several factors contributed to increased volatility. A significant slowdown in China’s economy led to reduced demand growth, prompting the International Energy Agency (IEA) to revise its global oil demand growth estimate for 2024 down to 910,000 barrels per day.

Simultaneously, global oil production saw modest increases. The IEA also reported a rise of 0.6 million barrels per day in global liquid fuels production for 2024, with non-OPEC+ countries contributing significantly to this uptick.

Geopolitical tensions, particularly involving major oil-producing nations, added layers of complexity to the market. Despite these challenges, the market displayed resilience, with prices fluctuating within a relatively narrow range. By mid-December, crude oil prices had risen to approximately US$74 per barrel, marking a six-week high.

Looking ahead, forecasts suggest that oil prices may average around $75 per barrel in 2025, with potential declines in subsequent years.

Against that backdrop, the five top-performing oil and gas stocks on the TSX and TSXV have seen share price growth. All year-to-date performance and share price data was obtained on December 19, 2024, using TradingView’s stock screener, and the oil and gas companies listed all had market caps above C$10 million at that time.

1. Sintana Energy (TSXV:SEI)

Company Profile

Year-to-date gain: 234.85 percent
Market cap: C$410.61 million
Share price: C$1.11

Sintana Energy, an oil and gas exploration and development company, operates across five highly prospective onshore and offshore petroleum exploration licenses in Namibia and Colombia.

The company saw tailwinds early in the year after releasing updates on exploration in Namibia’s Orange Basin. It made two significant light oil discoveries in January at petroleum exploration license 83.

February saw more share price growth when Sintana was listed on the TSX Venture 50 as the top energy performer.

In June, the company finalized its acquisition of a 49 percent interest in Giraffe Energy Investments as per an agreement dated April 24. Giraffe Energy holds a non-operating 33 percent stake in petroleum exploration license 79 in Namibia, and the remaining 67 percent of the license is owned by operator National Petroleum of Namibia.

Shares of Sintana marked a year-to-date high on June 11 to trade for C$1.42.

In late August, the company released its financial results for Q2 2024, which saw an overall net loss of C$2.7 million primarily driven by general and administrative expenses.

Recently Sintana announced a new exploration and appraisal campaign in Namibia’s Orange Basin, targeting blocks 2813A and 2814B under petroleum exploration license 83.

2. Arrow Exploration (TSXV:AXL)

Company Profile

Year-to-date gain: 26.56 percent
Market cap: C$117.2 million
Share price: C$0.40

Arrow Exploration, through its wholly owned subsidiary Carrao Energy, operates in Colombia with a focus on developing its portfolio of oil assets in the country. The company’s strategy is to target the expansion of oil production in key basins, including the Llanos Basin, Middle Magdalena Valley and Putumayo Basin.

Arrow Exploration holds high working interests in its assets, which are predominantly linked to Brent pricing.

In June, Arrow announced that it had successfully brought the first of four planned Ubaque horizontal wells into production, reporting that the Carrizales Norte B pad (CNB HZ-1) was producing 3,150 barrels of oil per day (bpd) gross, with 1,575 bpd net to Arrow, and has a water cut of less than 1 percent.

This news sent Arrow’s share price significantly upward registering a year-to-date high of C$0.60 on August 25.

The company released its Q2 results on August 29, reporting total oil and gas revenue of C$15.1 million for the period, up 47 percent year-on-year. Its current production is 5,000 barrels of oil equivalent per day.

In late September, after bringing another two wells online, Arrow announced that CNB HZ-5, its fourth horizontal well on the Carrizales Norte B pad in Colombia, is now producing over 2,700 barrels of oil per day gross. The company expects strong long-term performance.

For Q3 2024 Arrow reported its “strongest quarter” driven by record production, revenue, EBITDA, and cash flow. The company successfully drilled three horizontal development wells in the Carrizales Norte field, boosting operational momentum.

Arrow also posted C$21.3 million in oil and natural gas revenue, net of royalties, a 53 percent increase compared to Q3 2023.

3. Condor Energies (TSX:CDR)

Company Profile

Year-to-date gain: 23.24 percent
Market cap: C$114.68 million
Share price: C$1.75

Condor Energies concentrates on the exploration, development and production of natural gas in Turkey, Kazakhstan and Uzbekistan. The company is currently building Central Asia’s inaugural liquefied natural gas (LNG) facility.

In late January, Condor secured a natural gas allocation from the Kazakhstan government for its maiden modular LNG production facility. The gas allocation will be instrumental in liquefying feed gas to produce up to 350 metric tons per day of LNG, equivalent to about 210,000 gallons per day, the company said.

Condor’s shares reached a year-to-date high in February to trade for C$2.76.

In March, the energy company began a production-enhancement operation for eight natural gas condensate fields in Uzbekistan. Gas output will be directed to the domestic market through state entity agreements. Condor has agreed to cover project costs and receive a share of the generated revenues. The company launched a multi-well workover program at the fields in June.

In July, Condor signed its first LNG framework agreement for producing and utilizing LNG to power rail locomotives in Kazakhstan.

In mid-August, Condor released its Q2 report, highlighting that Uzbekistan production averaged 10,052 barrels of oil equivalent per day (boe/d) for the period, consisting of 59.03 million cubic feet per day and 213 barrels of oil per day of condensate. Q2 sales of gas and condensate from Uzbekistan totaled C$18.95 million.

Condor recently secured a second natural gas allocation from Kazakhstan’s state authority for its planned LNG facility near the Kuryk Port on the Caspian Sea. The allocation will fuel a low-carbon LNG production site capable of producing the energy equivalent of 565,000 liters of diesel per day, according to a September announcement.

The company’s Q3 results highlighted positive results for its gas field enhancement project in Uzbekistan, with production averaging 10,010 boe/d and sales reaching C$19 million. Results from the multi-well workover program have exceeded expectations,

Condor reported, increasing gas flow rates by 100 percent to 300 percent.

Earlier this month the company closed a brokered financing raising C$19.4 million.

4. Imperial Oil (TSX:IMO)

Company Profile

Year-to-date gain: 18.62 percent
Market cap: C$48.47 billion
Share price: C$90.34

Calgary-based Imperial Oil is a prominent Canadian energy company involved in the exploration, production, refining and marketing of petroleum products. With a history spanning over 140 years, Imperial operates diverse assets across Canada, including oil sands, conventional crude oil and natural gas assets.

On February 2, Imperial released its Q4 2023 results, highlighting upstream production of 452,000 barrels of oil equivalent per day, “marking its highest level in over three decades.”

Additionally, Imperial initiated steam injection at Cold Lake Grand Rapids, pioneering the industry’s first deployment of solvent-assisted SAGD technology. Downstream operations performed strongly, with refinery capacity utilization reaching 94 percent following the successful completion of the largest planned turnaround at the Sarnia site.

In this year’s Q2 results, Imperial reported quarterly net income of C$1.13 billion along with operating cashflow of C$1.63 billion, or C$1.51 billion when excluding working capital. According to the company, its upstream production reached 404,000 gross boe/d, its highest second quarter production in over 30 years. The Kearl project matched its highest-ever second quarter production at 255,000 gross boe/d, with Imperial’s share being 181,000 barrels. Cold Lake also performed strongly, with production of 147,000 bpd.

During the period, the company achieved first oil at Grand Rapids and renewed its annual share repurchase program, aiming to buy back up to 5 percent of its outstanding common shares.

On November 1, Imperial announced a quarterly dividend of C$0.60 per share, payable on January 1, 2025, to shareholders of record as of December 3, 2024. This matches its previous quarterly dividend.

Imperial saw its shares reach a year-to-date of C$108.03 on November 21, 2024.

In mid-December the company released its 2025 guidance. In it Brad Corson, chairman, president and chief executive officer laid out Imperial’s plans for the year ahead.

“Our 2025 plan builds on our momentum and positions the company to achieve even stronger operating performance with higher volumes and lower unit cash costs at Kearl and Cold Lake,” he said. “In the Downstream, a lighter turnaround schedule supports higher refinery throughput year-over-year, and start-up of the Strathcona Renewable Diesel project is expected to increase product sales.”

5. Athabasca Oil (TSX:ATH)

Press ReleasesCompany Profile

Year-to-date gain: 15.68 percent
Market cap: C$2.55 billion
Share price: C$4.87

Athabasca Oil is focused on developing thermal and light oil assets within Alberta’s Western Canadian Sedimentary Basin. The company has established a substantial land base with high-quality resources. Its light oil operations are managed through its private subsidiary, Duvernay Energy, in which the company holds a 70 percent equity interest.

At the end of July, Athabasca released its Q2 results, reporting average Q2 production of 37,621 boe/d, resulting in an increase in its annual production guidance to 36,000 to 37,000 boe/d. The company also achieved record adjusted funds flow of C$166 million and cashflow from operating activities of C$135 million.

Athabasca Oil’s Q3 results, released in late October, underscored a strong third quarter with average production of 38,909 boe/d, an 8 percent year-over-year increase. Adjusted funds flow reached C$164 million, marking a 25 percent increase per share.

In early December Athabasca Oil announced its 2025 budget, focusing on enhancing cash flow per share and committing 100 percent of free cash flow to shareholder returns through share buybacks.

The company also plans to invest approximately C$335 million in capital expenditures, aiming for an average production of 37,500 to 39,500 barrels of oil equivalent per day, with an exit rate of around 41,000 boe/d.

Athabasca shares rose to a year-to-date high in August when they were trading for C$5.66.

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

This post appeared first on investingnews.com

2024 was the year of the vote. More than 60 countries – home to nearly half the planet’s population – selected their leaders. In the history of democracy, it is a first.

In the history of humankind, it was a remarkable coming of age, an evolution, that at its best would not just reveal our collective soul but also propel us to better days. But what did we learn?

The results, maybe, were less satisfying than many had hoped. It appears we are still selfish, survivalist in the immediate sense, and tribal – by and large we voted for ourselves and not our collective interests. Fear and greed remain big motivators.

In many industrialized countries, like the United Kingdom, the topic took a back seat to more immediate concerns like putting food on the table today, not ensuring we can grow it a hundred years from now. Concerns over the economy are what helped give Keir Starmer’s Labour Party such a decisive victory, after 14 years in opposition, over the Conservatives.

Climate change – potentially an existential threat for all of us – failed to cut through this year.

United States President Joe Biden was also a victim of the trend. He’d got inflation down, but not prices, while wages hadn’t gone up; people felt the pain and voted for change in the form of Donald Trump.

Viewed dispassionately, it may seem odd that a leader with a track record of lying and climate denial could land a successful message.

But seen from closer to home it really shouldn’t be so shocking. Across the world, most voters did what they traditionally do and voted with their wallets, punishing, even tossing out, incumbents.

Even where votes hadn’t been foreseen, elections continued to populate 2024 almost to the year’s end.

In mid-December, Germany’s moribund economy sank Chancellor Olaf Scholz’s government when the Bundestag voted no confidence in his fractured coalition, triggering snap elections in early 2025.

From Algeria and Azerbaijan to Taiwan and Tuvalu, from the Solomon Islands to South Africa, democracy and the freedom to choose leaders has been embraced in a way unimaginable in countries where just a century or so ago voting, if available, was restricted to the wealthy, the middle-aged, and in many cases no women at all.

Biden and the UK Conservatives weren’t the only incumbents who had a bad year. In India, PM Narendra Modi’s populist nationalist party, the BJP, had its vote share cut; in South Africa, the party of Nelson Mandela lost its majority for the first time; and in the European Union, voters also shunned the mainstream, looking to populists on the left and particularly on the right. Mexico was unusual in seeing a sitting party improve its position.

In Bangladesh, Sheikh Hasina easily won another term as president only to be swept from office by protesters, an indication that where the leader, and the ballot box, are widely distrusted, the trappings of democracy won’t save them.

But still, some votes stand out more than others. Donald Trump’s victory in the US presidential contest is undoubtedly the most consequential, while French President Emmanuel Macron calling a snap vote after the EU parliamentary election is perhaps the most informative.

Like Modi in the world’s largest democracy of 1.4 billion people, Macron – with a much smaller electorate of about 50 million – lost significant support.

The populist nationalist Modi and reform-minded centrist Macron are still relatively powerful, but their political heft has been weakened because voters were unhappy with their economic performance.

In both cases, the hardships were largely beyond their control. The economic pain shared across the world, created in part by the long tail of Covid, coupled with the war in Ukraine driving up energy prices.

As the famous saying goes, “It’s the economy, stupid.”

The reason Macron’s victory is the most instructive is because it shows that where populism has historically been strongest it can still be challenged.

Macron had called the French parliamentary election immediately following the successes of France’s populist nationalists in the massive, 27-nation European Parliament elections in June.

His decision came on the heels of hosting the 80th anniversary commemoration of D-Day in Normandy, where France, and Macron, appeared at their finest, hosting myriad world leaders, World War II veterans, even royalty.

The event itself reflected a time when democracy was imagined to be coming of age, having seen off Nazism, yet held when once again the shadows of some of those same dark tendencies are lengthening.

At the celebrations Macron seemed buoyed and in control.

But just days later the EU election delivered an ego-busting blow and he appeared to be on the verge of a major miscalculation.

Although his position was safe, he was making a huge gamble. If the right-wing populists took parliament, his final years in office would be as a lame-duck president.

Macron’s bet landed his country with a conservative prime minister – rather than one from the populist right – who lost a confidence vote 57 days later. Macron then plucked another PM from a dwindling list of potential candidates, this time a centrist who described his task ahead as “Himalayan.” It may have paid off in the short term, but Trump’s success in the United States and the growth of the far right in Germany speak to an incoming tide that the French president has yet to figure out how to turn.

Perhaps the least unexpected result, and possibly the biggest abuse of the concept of democracy, could become one of the most consequential.

Vladimir Putin’s 87% share in Russia’s March presidential vote is an object lesson in what democracy is not.

It is not about political opponents languishing, or in the case of opposition leader Alexey Navalny, dying in jail just a few weeks before the election, neither is it about Putin’s chilling totalitarian grip on media. Nor his pernicious, meddling reach in Moldova, which narrowly voted to remain out with his grasp, nor Romania where the presidential vote was overturned, an apparent victim of social media jacking with telltale Russian hallmarks.

Next year will see a reprise of Putin and Trump’s relationship.

How the re-elected most powerful man in the world handles one of the most frequently illegitimately re-elected leaders in the world will test Europe’s future stability, and with it, global faith in the values of democracy.

Ironically their point of contest will be over Ukraine, a democracy overdue for an election but unable to hold one because of Putin’s illegal invasion, annexation of swaths of eastern Ukraine and Crimea and his military’s continued war there.

On his re-election campaign trail Trump vowed to end the war “in 24 hours” as well as cut the US support that is helping to stop Putin steamrollering the rest of Ukraine.

A Trump-Putin deal that validates illegality and illegitimacy over democratic norms would be a chilling way to kickstart 2025.

Trump has many options. Most Ukrainians will hope he chooses the values that began making America great even before the US army joined in with that WWII assault on Normandy.

And in this of course is a lesson in global democracy. Times change and so does popular will. The American people resoundingly voted for Trump, knowingly picking a more isolationist foreign policy president. It’s what they want, for now at least.

Perhaps the big takeaway of democracy’s impressive 2024 showing, is also the lesson of 1944 – how much one country’s electorate impacts another’s choices. It is a lesson writ larger and more complicatedly than any previous year.

The US is perhaps entering the twilight as global trendsetter, but its impact, be it on influencing the climate change calculations of India’s Modi and the actions of his populous nation, or a peace deal in Ukraine that signals Putin towards more deadly invasions, can easily affect countries thousands of miles way.

Trump is stacking his cabinet and White House with disruptors, as he is entitled to do; in four years Americans will be able to oust him, as they also are entitled to do.

That’s the trajectory that has got half the planet to the polls this year.

The democratic experiment has been working, mostly. Now is not the time to retreat.

It’s a lesson not lost on the Syrians emerging in late December from more than half a century of brutal Assad family dictatorship, whose 2025 might just hold the prospect of finally getting a share of democracy’s sweet allure and a trip to the polls themselves to pick their next leader.

This post appeared first on cnn.com

When Islamist rebels swept through Syria’s second largest city in an operation that would eventually culminate in the ouster of the brutal Assad regime, Christians were given assurances that their churches and property would remain protected.

Three weeks since the rebels’ successful campaign to topple Assad, Syria’s Christians now join those in Lebanon and Palestinian territories to celebrate Christmas amid great uncertainty and fear in the region.

Under Bashar al-Assad, Christians were allowed to celebrate their holidays and practice their rituals but like all Syrians faced tyrannical limitations on freedom of speech and political activity.

In control of most of Syria now is the Islamist armed rebel group Hayat Tahrir Al-Sham, led by Ahmad al-Sharaa, formerly known as Abu Mohammed Al Jolani – a man who had established al Qaeda’s affiliate in Syria before rebranding his group in 2016.

“Hayat Tahrir Al Sham have not announced anything on stopping our celebrations… but there are Christians who don’t want to go out to celebrate because they fear that they might get attacked from rogue armed individuals,” George, a 24-year-old Catholic resident of Damascus, who chose to give only his first name to speak freely.

Christmas trees and other festive decorations are up across Christian neighborhoods of Damascus, George said, but people are scaling back their celebrations and imposing their own restrictions amid an absence of communication from HTS.

“It will make a big difference if there are announcements on better security for Christmas. Until now there isn’t proper security that is 100% organized,” he added.

Hilda Haskour, a 50-year-old Aleppo resident who identifies as Syriac Catholic, is preparing to celebrate Christmas but says there’s still worry among Christians.

“We just want to live in peace and safety, we are not asking for much…there is fear, people are tired,” Haskour said.

‘We will rebuild again’

For the second year running, a Christmas tree will not be hoisted in the city revered as the birthplace of Jesus, Bethlehem.

Since the Gaza war started last year in the wake of Hamas’ attack on southern Israel on October 7, the Israeli-occupied city of Bethlehem has been subjected to “severe isolation” due to imposed restrictions, the suspension of tourism, the closure of its gates to pilgrims, and a frozen economy, the Mayor of Bethlehem Anton Salman said at a news conference on Saturday.

At least $600 million has been lost in revenue and unemployment rates have soared to over 36%, with poverty levels rising as nearly 30% of Bethlehem’s residents lack a source of income due to the absence of tourists.

“This year’s Christmas celebrations will be limited to prayers and religious rituals in solidarity with the Palestinian people in Gaza and across Palestine and as a rejection of the oppression and injustice they endure,” a statement citing Salman said.

Over the past year in Gaza, where Israeli attacks have killed at least 45,000 people and destroyed much of the strip, churches have been targeted several times by Israeli forces. Days before Christmas last year, an Israeli military sniper shot and killed two women inside the Holy Family Parish, according to the Latin Patriarchate of Jerusalem.

This Christmas, the Catholic Bishop of Jerusalem, known as a Patriarch, was allowed to enter Gaza to pray with the small Christian population of the strip at the Holy Family Parish, which has served over the past year as a shelter for the small religious minority.

“The war will end, and we will rebuild again, but we must guard our hearts to be capable of rebuilding. We love you, so never fear and never give up,” Cardinal Pierbattista Pizzaballa told worshipers during Sunday Mass.

Lebanon celebrates

Meanwhile in Lebanon, decorations are up in Christian parts of Beirut, where communities are keen to celebrate just weeks after a ceasefire between Hezbollah and Israel was declared. Flights were fully booked as people returned to mark Christmas with families and festive markets opened in different neighborhoods.

“My brother is flying back from New York just to specifically celebrate with our mother,” Tony Batte, an Armenian Catholic resident of Beirut, said.

In September, Israel expanded its targeting of Hezbollah to areas inside Lebanon, including the capital Beirut. Around 4,000 people were killed and thousands more injured in Lebanon while Hezbollah continued firing rockets and drones on Israeli cities in the north displacing thousands.

Hezbollah entered the war last year in solidarity with Palestinians in Gaza and Hamas but has since suffered significant losses, including the assassination of its leader Hassan Nasrallah and his top brass, and the debilitating of the militant group’s missile capabilities. The fall of its key ally Assad, and the rebels’ capture of key supply routes used by Hezbollah in Syria could also affect the capabilities of the Iranian-backed group.

“We want stability, we’re tired. We were occupied by the Syrians for years and then had Iranian influence, and we’re tired of the Christian infighting, the Islamic infighting, the Hezbollah-Israel war, every Lebanese person is tired, not just Christians,” Batte said.

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At least 12 people were killed in a blast at an explosives and ammunition factory in the Karesi district of Balikesir province in northwest Turkey on Tuesday, the country’s interior ministry said.

At least four others were injured in the explosion, which also caused a building to collapse, according to the ministry.

Turkish President Recep Tayyip Erdogan said on X that he was “deeply saddened by the death of 12 of our brothers.”

“I pray to God to have mercy on my deceased brothers, offer my condolences to their families, and wish a speedy recovery to our injured,” Erdogan added. “My condolences to Balikesir and our nation.”

Turkish Justice Minister Yilmaz Tunc said on X that a committee of experts, including chemical, mechanical, occupational safety and geophysical engineers, had been assigned to determine the cause of the explosion.

This is a developing story and will be updated.

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