Archive

December 2024

Browsing

A Filipina woman who had been on death row in Indonesia, and who was nearly executed by firing squad in 2015, arrived home early Wednesday after longstanding requests from her home country.

Mary Jane Fiesta Veloso had spent almost 15 years in prison for drug trafficking but won a last-minute reprieve that will lead to her testimony exposing how a criminal syndicate duped her into being an unwitting accomplice and drug courier.

Relatives and a small group of supporters, including Veloso’s two sons who were 1- and 6-year old when she was arrested in 2010, welcome her with cheers and tears when she arriving at Manila’s airport.

“Welcome home Mary Jane,” read a huge banner carried by relatives and supporters who were clasping flowers.

Veloso was moved late Sunday from a female prison in Yogyakarta to Indonesia’s capital Jakarta, then escorted Tuesday night for a flight to Manila. Her repatriation was made possible by a “practical arrangement” for the transfer of prisoners signed between the two countries on December 6.

Her transfer removes the possibility of execution. The Philippines, Asia’s largest Roman Catholic nation, has long abolished the death penalty.

Cries rang out and the crowd waved as Veloso was escorted by a security cordon to a waiting van. Her parents wiped away tears, with her mother Celia expressing frustration that they were unable to go near or hug her.

Officials said that relatives and lawyers will instead spend an hour with Veloso at the Correctional Institution for Women in Metro Manila, where she was moved for security reasons.

“Hopefully the president can grant clemency to Mary Jane,” Veloso’s mother told reporters. Her family has been seeking presidential clemency but the presidential palace said there has been no decision.

A crowd of about 100 supporters chanted “Clemency for Mary Jane” and “Free, free Mary Jane” as the van carrying Veloso arrived at the penal facility.

Veloso earlier told reporters outside Pondok Bambu prison in Jakarta that she was overwhelmed by emotions. She said she was treated well by fellow inmates and prison officials during her 14 years of incarceration and had many souvenirs including a guitar, books, knitting and rosaries.

“Thank you, Indonesia, I love Indonesia,” Veloso said, forming a heart with her fingers.

In a news conference at the airport, she thanked Indonesian President Prabowo Subianto and his government, as well as Philippine President Ferdinand Marcos Jr., for their efforts to send her home to serve the rest of her sentence in her country.

“I am grateful to God who has answered my prayers,” Veloso said while trying to hold in sobs. “I will return to my country, and I am sure and believe that God has a beautiful plan for my life.”

Eduardo Jose De Vega, the undersecretary for migration affairs at the Philippines Foreign Affairs Department, said her transfer was evidence of the success of diplomacy between the countries in upholding the principles of the supremacy of law and respect for human rights.

Indonesia’s senior minister of law, Yusril Ihza Mahendra, has said that “if the Philippines want to pardon Veloso or grant clemency, that is entirely their authority and we must also respect.”

Under the agreement, Veloso is banned from entering Indonesian territory for life.

“Allow me to thank the government of Indonesia for its sincere and decisive action which allowed Mary Jane Veloso to be home before Christmas,” Foreign Affairs Secretary Enrique Manalo said in a statement Wednesday.

“This is a significant achievement for the bilateral relations between the Philippines and Indonesia, a mark of the trust and friendship between our two nations,” Manalo said.

Marcos told reporters on Tuesday that “we’re celebrating already.”

Prison officials said Veloso will undergo five days of quarantine at the penal facility for women in Manila, where her family will spend Christmas Eve with her.

Veloso, who will turn 40 next month, was arrested in 2010 at an airport in Yogyakarta, where officials discovered about 2.6 kilograms (5.7 pounds) of heroin hidden in her luggage.

The conviction and death sentence for the single mother of two sons caused an outcry in the Philippines.

She had traveled to Indonesia where a recruiter, Maria Kristina Sergio, reportedly told her a job as a domestic worker awaited her. Sergio also allegedly provided the suitcase where the drugs were found.

In 2015, Indonesia moved Veloso to an island prison where she and eight other drug convicts were scheduled to be executed despite objections from their home countries Australia, Brazil, France, Ghana and Nigeria.

Indonesia executed the others but Veloso was granted a stay of execution because Sergio had been arrested in the Philippines two days earlier.

The United Nations Office on Drugs and Crime says Indonesia is a major drug smuggling hub despite having some of the strictest drug laws in the world, in part because international drug syndicates target its young population.

About 530 people are on death row in Indonesia, mostly for drug-related crimes, including 96 foreigners, the Ministry of Immigration and Corrections’ data showed last month. Indonesia’s last executions, of a citizen and three foreigners, were carried out in July 2016.

Five Australians who spent almost 20 years in Indonesian prisons for heroin trafficking returned to Australia on Sunday under a deal struck between the governments.

This post appeared first on cnn.com

China says two of its astronauts completed a nine-hour spacewalk Tuesday, a figure that beats the US-held record for the world’s longest spacewalk set in 2001, in the latest milestone in the country’s ambitious space program.

Cai Xuzhe and Song Lingdong, crew members of the Shenzhou-19 spaceflight, wrapped the nine-hour extravehicular activity, better known as a spacewalk, just before 10 p.m. Beijing time, according to the China Manned Space Agency.

The previous record of eight hours and 56 minutes was set by US astronauts James Voss and Susan Helms on March 12, 2001, according to NASA.

China has mounted a significant effort to establish itself as a major player in space – a domain that nations, including the United States, are increasingly looking to not only for scientific benefit, but also with an eye to resources and national security.

The China National Space Administration has in recent years carried out a series of increasingly complex robotic lunar missions, including the first-ever return of lunar samples from the far side of the moon earlier this year.

It has also been angling to become the second country, after the US, to land on the moon, and has unveiled a specially designed spacesuit for the mission, set to take place by 2030.

This post appeared first on cnn.com

Here’s a look at the innovators who joined us in London, and the technologies they’ve got in the pipeline.

‘A toolkit to help safeguard our reefs’

PhD candidate Taylor Whitman traveled from Australia to London to talk about the coral seeding devices she designed to deliver new baby corals to the Great Barrier Reef to help restore it.

Whitman said she hopes to take her coral-restoration technology global, putting it in the hands of communities to use alongside other solutions to save coral reefs. “It’s building a toolkit to help safeguard our reefs,” she said.

She hopes the project will allow future generations to experience the ocean ecosystems she loves so much. “We’re at this pivotal moment,” she said. “We have to do something now before it’s too late.”

Gearing up for launch

There, he and his classmates from ETH Zurich tested a custom-developed space rocket recovery system by dropping it from a helicopter. The AI-powered system steers a parachute back to a predetermined landing site, so they can pick up the rocket and use it again.

On the London stage, Schatzmann told Stewart that his team are gearing up for a “proper launch” soon, in which they’ll launch a rocket, instead of lifting it with a helicopter before guiding it down.

Reusable rockets are becoming the norm, but not everyone has the technology to recover them easily and sustainably. He hopes that one day systems like his become the standard – making the space industry more sustainable.

“I also hope that we can keep enabling students and inspiring them to chase these far-out ideas and keep at it until they’ve actually become a reality,” he added.

‘Young people think differently’

One of our most read Tech for Good stories this year covered SharkEye, an initiative which uses drones and artificial intelligence to detect the great white sharks that like to hang out by a local surf beach near Santa Barbara, California.

Today, the team is focusing on detecting great white sharks in California. Nathan hopes to advance their technology to be able to use it for new species, like tiger sharks, in other locations. “There’s a lot of need to put a tool like this in the hands of other communities,” he said.

And as the show wrapped up, Nathan shared an insight that perfectly captured the spirit of Tech for Good.

“Young people think differently to how people have thought before,” he said. “For some of these huge problems – climate change, plastic pollution, wildlife crises, space exploration – we need new minds thinking of new solutions.”

This post appeared first on cnn.com

A 29-year-old Uzbek citizen has been detained for allegedly planting the bomb that killed senior Russian general and his assistant, the Russian Investigative Committee said Wednesday.

Lt. Gen. Igor Kirillov, who headed Russia’s radiological, biological and chemical protection forces, was killed by a remotely detonated bomb planted in an electric scooter outside an apartment building some 7 kilometers (4 miles) southeast of the Kremlin.

The Uzbek suspect was allegedly recruited by Ukraine’s special services and arrived in Moscow under their instruction, the committee said on its official Telegram channel.

“The detainee received a homemade explosive device and placed it on an electric scooter which he parked at the entrance to the residential building where Igor Kirillov lived,” according to the committee’s statement.

To monitor Kirillov’s residence, the suspect rented a car and equipped it with a surveillance camera, the committee added.

“The footage from this camera was broadcast online to the organizers of the terrorist attack in the city of Dnipro. After a video signal was received about the soldiers leaving the entrance, the explosive device was remotely activated by them,” the committee said, adding that “other persons involved in organizing this crime are being identified.”

The detained Uzbek citizen was guaranteed a monetary reward of $100,000 and residence in an unspecified European country, according to the committee.

Russian officials have responded furiously to the general’s death, vowing punishment “without a doubt and without mercy.”

This post appeared first on cnn.com

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Today Erin looks at the Broadcom (AVGO) chart and compares it to the NVIDIA (NVDA) chart. She shows us the differences between the two and tells you whether she believes AVGO will be the new NVDA, meaning it will perform as NVDA used to perform with a concerted move up nearly everyday.

Carl analyzes the market and gives you all you need to know going into this trading week. He discusses his thoughts on where the market may be headed in January. Can the rally continue?

After the market overview, Carl covers the Magnificent Seven in the short term and the intermediate term by looking at both the daily and weekly charts for each.

The pair then answer questions posed by audience on OBV construction and a discussion of how we use the Bias Table for short-term analysis. Currently the table is flipping bearish.

Erin covers sector rotation and gives us two sectors to watch moving into this week. Two sectors are in decline but they have both reached very interesting levels of support that could precede an upside reversal.

Finally Erin covers viewers symbol requests.

If you’d like to join us in the free DP Trading Room on Mondays at Noon ET, sign up at this link: https://zoom.us/webinar/register/WN_D6iAp-C1S6SebVpQIYcC6g#/registration

Don’t forget you can get a free two week trial of any of our subscriptions by using coupon code: DPTRIAL2 at checkout!

01:06 DP Signal Tables

04:22 Semiconductor Chart

06:39 Market Overview

17:27 Magnificent Seven

23:46 Questions

30:52 Broadcom v. NVIDIA

38:16 Sector Rotation

42:04 Symbol Requests


The DP Alert: Your First Stop to a Great Trade!

Before you trade any stock or ETF, you need to know the trend and condition of the market. The DP Alert gives you all you need to know with an executive summary of the market’s current trend and condition. It not only covers the market! We look at Bitcoin, Yields, Bonds, Gold, the Dollar, Gold Miners and Crude Oil every market day! Only $50/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!


Learn more about DecisionPoint.com:


Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!


Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 Subscribe HERE!


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


(c) Copyright 2024 DecisionPoint.com


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

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


Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

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

ITBM and ITVM

SCTR Ranking

Bear Market Rules


Good morning and welcome to this week’s Flight Path. The “Go” trend in equities continued again this past week but we saw some weakness as GoNoGo trend painted a few weaker aqua bars. Treasury bond prices experienced a change in trend as a few bars of “Go Fish” gave way to a purple “NoGo” bar. U.S. commodities painted a full week of strong blue “Go” bars and the dollar also saw strength return with strong blue bars.

$SPY Shows a Little Weakness with Aqua Bars

The GoNoGo chart below shows that price has moved mostly sideways since the last high and the Go Countertrend Correction Icon (red arrow) that came with it. The waning momentum suggested that price may have a hard time moving higher in the short term. GoNoGo Trend has painted a few weaker aqua bars as well and we see GoNoGo Oscillator testing the zero line from above. It will need to find support here and if it does we will be able to say that momentum is resurgent in the direction of the “Go” trend.

On the longer term chart, the trend continues to be strong. However we are seeing the price range shrink as we edge higher. GoNoGo Oscillator is not in overbought territory and seems to be resting at a value of 3. We will watch to see if the oscillator falls to test the zero line perhaps in the next few weeks.

Treasury Rates Return to Paint “Go” Colors

Treasury bond yields reversed course and after consecutive amber “Go Fish” bars that often come as a transition between trends we see the indicator painting “Go” colors again. GoNoGo Oscillator has broken back into positive territory which confirms the trend change that we see in price above.

The Dollar Sees a Return to Strength

The dollar rallied this week with a string of uninterrupted bright blue “Go” bars. Price is approaching resistance from prior highs and we will watch to see if it can continue higher. GoNoGo Oscillator broke back into positive territory and we saw a Go Trend Continuation Icon (green circle) indicating that momentum is resurgent in the direction of the “Go” trend. We will watch to see if this will give price the push it needs to make a new high in the coming days and weeks.

Silver saw strong gains in 2024, breaching the US$32 mark in the first half of the year and then the US$34 mark in October.

Silver’s dual function as a monetary and industrial metal offers great upside. Demand from energy transition sectors, especially for its use in the production of solar panels, has created tight supply-and-demand forces.

Demand is already outpacing mine supply, making for a positive situation for silver-producing companies and their investors.

How has silver’s price movement benefited Canadian silver stocks on the TSX, TSXV and CSE? The five companies listed below have seen the best performances since the start of the year.

Data was gathered using TradingView’s stock screener on December 10, 2024, and all companies listed had market caps over C$10 million at that time.

1. Pantera Silver (TSXV:PNTR)

Company Profile

Year-to-date gain: 244.44 percent
Market cap: C$13.14 million
Share price: C$0.31

Pantera Silver is a precious metals exploration and development company focused on its Nuevo Taxco silver-gold project located near Mexico City, Mexico.

The company signed an earn-in agreement with Impact Silver (TSX:IPT) for the 1,100 hectare property in October 2020. Though limited exploration has been carried out on the property, work done by Impact in 2013 identified 21 silver bearing veins. Of the 395 rock samples collected at that time, three contained grades of over 1,000 g/t silver. In its own drill program carried out in 2022, Pantera highlighted assay results of up to 225 g/t silver from 1.85 meters.

On October 20, Pantera provided a corporate update and was looking at various options to restart exploration work that had previously been paused at Nuevo Taxco. In the announcement, Pantera said it was expecting to begin work in Q3 2024 and would be focusing on sampling and mapping the Southwest Zone of the project. The company has not provided any further updates regarding exploration work at Nuevo Taxco.

The most recent news from Pantera came on December 3 when it announced it had entered into a definitive agreement to acquire a 100 percent stake in the Rakanco project. The property is composed of three mineral claims covering an area of 17,975 hectares in southwest Bolivia.

Shares in Pantera reached a year-to-date high of C$0.46 on October 22 alongside a surging silver price.

2. Gatos Silver (TSX:GATO)

Company Profile

Year-to-date gain: 166.86 percent
Market cap: C$1.62 billion
Share price: C$22.87

Gatos Silver is a silver-focused production and exploration company. Its flagship asset is the Cerro Los Gatos mine and district, located south of Chihuahua City, Mexico.

The site consists of 14 predominantly silver, lead and zinc mineralization zones, and is a joint venture with Dowa Metals and Mining, which holds a 30 percent stake in the operation; Gatos owns the remaining 70 percent.

On February 21, the company released its full-year results for 2023, indicating it had produced 9.2 million ounces of silver, marking a decline from the 10.3 million ounces produced in 2022. However, the company said it improved operational efficiencies to offset inflationary pressure, lowering all-in-sustaining costs (AISC) to the lower end of 2023 guidance.

In the release, Gatos also notes that it expects similar production totals for 2024, with guidance of 8.4 million to 9.2 million ounces of silver at an AISC of US$9.50 to US$11.50 per payable ounce. The company said it anticipates that exploration efforts at the South-East Deeps target will further extend the life of the mine.

On July 23, Gatos reported an update on regional exploration programs. Drilling at the South East Deeps zone extension resulted in a highlight of 214 g/t silver over 3.5 meters.

Additionally, results from its ongoing drilling at the Portigueño target included a highlight of 49 g/t silver over 1.6 meters, and results from two holes testing the depth of the San Luis target produced a highlighted intercept more than 150 meters below surface of 66 g/t silver over 8.9 meters, including 111 g/t silver over 2.5 meters.

On September 5, Gatos announced it had entered into a definitive merger agreement in which it will be acquired by First Majestic Silver (TSX:AG,NYSE:AG). Under the terms of the deal, Gatos shareholders will receive 2.44 common shares of First Majestic for each share of Gatos held at a price of US$13.49 based on the closing price of First Majestic on the NYSE on September 4, 2024. The transaction sets the total equity value of Gatos at US$970 million. The merger is expected to be completed in early 2025.

In a Q3 production update on October 9, Gatos reported its silver equivalent production in Q3 increased 11 percent year over year. Additionally, through the first nine months of 2024, Gatos produced 7.1 million ounces of silver, up from 6.65 million ounces in the same period in 2023.

The higher figures allowed the company to increase guidance for 2024 to 9.2 million to 9.7 million ounces of silver from its original guidance of 8.4 million to 9.2 million ounces.

In a follow-up on November 11, the company released its Q3 financial and operating results, which stated earnings per share had increased 200 percent to C$0.14 from C$0.05 and that net income had increased to C$9.9 million from C$3.3 million from the same period in 2023.

Shares in Gatos Silver reached a year-to-date high of C$27.85 on October 29.

3. GR Silver Mining (TSXV:GRSL)

Company Profile

Year-to-date gain: 156.25 percent
Market cap: C$68.17 million
Share price: C$0.205

GR Silver Mining is a small-cap explorer and developer that is working to advance its Rosario Mining District in Sinaloa, Mexico, to production. The district consists of three core mining areas: Plomosas, San Marcial and La Trinidad.

The company’s primary focus has been the development of Plomosas and neighboring San Marcial, a 9,764 hectare land package that hosts a past-producing silver, gold, lead and zinc underground mine.

In March 2023, the company released an updated resource estimate for Plomosas showing total indicated resources of 97 million silver equivalent ounces, with additional inferred resources of 53 million silver equivalent ounces.

Shares of GR Silver saw significant gains in the first quarter alongside a rising silver price and a March 4 announcement that GR started small bulk sampling and test mining at Plomosas.

The company provided results from the sampling program in an update on June 27. In the report, GR Silver said it had completed 280 meters of underground development and processed 15,170 metric tons of material. Silver recovery rates from the samples were between 84 and 92 percent. Assays from channel sampling produced high grades, with one sample grading 1,625 grams per metric ton (g/t) silver and 14.1 g/t gold over 2.5 meters.

On July 17, GR announced that it had completed its sale of Marlin Gold Mining to a private, arm’s-length company active in Mexico. Under the terms of the agreement, GR will receive a 0.5 percent net smelter royalty on the concessions owned by Marlin subsidiary Oro Gold and a 10-year first right of refusal on any disposition of the concessions.

Since then, the company has spent time fundraising. Its most recent news came on September 27, when GR announced it had closed an oversubscribed private placement for C$2.37 million. The company said it intends to use the proceeds toward exploration activities at its Plomosas project.

GR Silver’s share price reached a year-to-date high of C$0.295 on October 23.

4. Andean Precious Metals (TSX:APM)

Company Profile

Year-to-date gain: 132.79 percent
Market cap: C$219.56 million
Share price: C$1.42

Andean Precious Metals is a silver focused mining company with a pair of operating assets in the Amercias.

Its primary silver producing operation is the San Bartolome mine in the Potosi Department of Bolivia. The onsite processing facility has an annual ore capacity of 1.8 million metric tons. A September 2023 mineral reserve statement demonstrated proven and probable quantites of silver at 6.85 million ounces from 21.01 million metric tons of ore with an average grade of 10.15 g/t.

Its other producing asset is the Golden Queen mine in Kern County, California, United States. It hosts a 12,000 metric ton per day cyanide heap leach and Merril-Crowe processing facility. The mineral reserve statement shows measured and indicated silver values at 11.24 million ounces from 41.81 million metric tons with an average grade of 8.37 g/t.

The company acquired Golden Queen from Auvergne Umbrella in November 2023 for total considerations of US$15 million.

On November 11, the company released its third-quarter 2024 operating and financial results. In the report, the company stated that during the first nine months of the year, it had produced 2.98 million ounces of silver at San Bartolomé, an 11 percent reduction from 2023. However, this was offset by production at Golden Queen, which generated 395,000 ounces of silver.

The most recent news from Andean came on December 5, when it announced it had received approval to be listed on the Toronto Stock Exchange (INDEXTSI:OSPTX). The company says the move reflects its commitment to delivering shareholder value and will enhance Andean’s visibility and ability to broaden its investor base.

Andean shares have positive momentum all year but saw their biggest increase alongside a surge in silver and gold prices in September and into October. It reached its year-to-date high of C$2.10 on October 22, the same day Silver saw its highest price of the year.

5. Endeavour Silver (TSX:EDR)

Company Profile

Year-to-date gain: 129.66 percent
Market cap: C$1.49 billion
Share price: C$6.04

Endeavour Silver is a silver company with two operating silver-gold mines in Mexico — Guanaceví and Bolañitos — plus the advanced-stage Terronera development project and several exploration properties.

Its primary focus for 2024 has been its Terronera project in Jalisco, Mexico, which is under construction. Once complete, the new mine will become the company’s flagship operation. According to a 2023 update to its 2021 feasibility report, Terronera will produce an estimated 4 million ounces of silver per year over a 10 year mine life.

On July 24, Endeavour announced that construction at the site had progressed, with surface construction achieving 77 percent completion. The company said it should be ready for dry commissioning during Q3 2024 and that final earthworks and concrete pouring were also expected to take place during the third quarter.

Endeavour reported on August 19 that, following a failure that occurred at the primary ball mill trunnion on August 12, it had resumed processing at its Guanacevi mine site. However, the company noted that its processing capacity would be halved during a ramp up with temporary modifications. At the time, it stated that permanent repairs to return to regular capacity should take 16 weeks for fabrication and installation.

The company estimated that silver production for the year would be 900,000 to 1.1 million ounces lower than previous guidance due to this.

In Endeavour’s Q3 production results released on October 8, the company said the failure and temporary fix had reduced throughput at the mill to 565 metric tons per day, resulting in production of 847,717 ounces of silver, a decrease of 24 percent compared to Q3 2023. For the first nine months of the year, Endeavour produced 3.65 million ounces of silver, 15 percent lower year-over-year.

Endeavour expects Guanacevi to be back to full operations in December.

In a release on October 21, Endeavour provided a construction update from Terronera indicating that it reached 77 percent completion. The company said it is on track to begin commissioning near the end of Q4.

Shares of Endeavour reached a year-to-date high of C$7.62 on October 29.

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

This post appeared first on investingnews.com

While he sees further upside potential until about the end of January, ultimately he expects gold to move sideways or lower for multiple months before starting another big rally that will last four to six years.

‘That’s when the miners are really going to participate, and we’re going to see that everyone’s going to want to be involved in the precious metals mining space. They’re going to do those hundreds or thousands of percent returns when gold blasts off in this new economic reset,’ Vermeulen explained during the interview.

He also discussed his silver and platinum outlook, and shared why he recently decided to trade Bitcoin for the first time in 10 years. Vermeulen’s short-term target in this ‘can’t miss’ trade is US$108,700.

Watch the interview above for his full thoughts on those and other topics.

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

This post appeared first on investingnews.com