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Swing Trading with Point & Figure

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There are a number of effective swing trading systems being used today. Let’s explore one that is popular among Wyckoffians. It uses two inputs: Point and Figure charts and volume. Let’s review this system with a case study of Charles Schwab Corp. (SCHW).

As markets are fractal, Accumulation and Distribution structures form in daily, weekly and monthly timeframes. Swing trading structures typically form on daily charts that can be identified with 1-box Point & Figure charts and daily vertical bar charts.

Charles Schwab Corp. forms a Swing Trading Accumulation structure between July and October. In July climactic selling (SC) volume ends the decline, and an Automatic Rally (AR) sets the support and resistance of a range-bound condition to follow. Subsequent volume on rallies and reactions tells the tale of latent Accumulation. This chart is rich with Wyckoffian principles, and it has been marked up for your study and evaluation. Let’s turn our attention to the PnF chart to demonstrate how much useful information is present for Swing Trading.

Charles Schwab Corp. (SCHW) Vertical Chart Study

Swing PnF Case Study

Charles Schwab Corp. Swing Trading Case Study. 1-Box PnF

A 1-box PnF chart, properly constructed, will characterize the essential elements of the vertical chart. Note how the PnF strips out much of the noise and highlights the critical chart features. I often hear that traders find volume easier to read and interpret on the PnF chart therefore it is suggested that all PnF charts be plotted with volume. A key feature of PnF charts is the estimation of the price objective determined by the size and structure of the Accumulation. There is no other technique for estimating price objectives as effectively as horizontal PnF counting. PnF is a centuries old, tried and true approach to evaluating and trading financial instruments.

For swing trading purposes, a 1-box reversal PnF is generated using ‘Traditional Scaling’. The up and down swings are clearly revealed with this method. With 1-box PnF the horizontal structure is well defined and the volume patterns are illuminating.

Chart Notes:

  • Selling Climax (SC) exceeds the Distribution count and finds support at $61. An Automatic Rally (AR) immediately follows and demonstrates emerging demand. A Secondary Test (ST) back to $61, which holds, and confirms this level to be the Composite Operator’s ‘Value Zone’. Volume declines on each reaction back to $61 ST level (support).
  • Volume expands on each rally (column of X’s) as the Accumulation matures to conclusion. Lower volume on declines and higher volume on the rally columns reveal that supply is diminishing and absorption has occurred. Higher volume on the rising columns is evidence of new demand by institutions. Accumulation is nearly complete.
  • The pullback to the LPS / BU (see vertical chart) produces a higher low. The turn off that low can be bought with a stop below support. The next entry level is the jump above $65 resistance with a stop below the LPS.
  • The price objective generated by the horizontal Accumulation is estimated by the PnF. There are 17 columns of count producing $17 of upside price objective (17 columns x $1-scale x 1-point reversal = $17). The percent potential of this swing trade is $17 from the $64 count line ($17/$64 = 26.6%). The price objective range is estimated by adding $17 to the $61 low of the Accumulation and the $64 count line. Producing a count range of $78 / $81.
  • The Buying Climax is reached at $82. Thereafter $83 is resistance and a Swing Distribution forms in this price zone. When the Swing PnF count objective is attained, profits are taken. In this example the local Buying Climax surge produces an ideal selling zone.

Campaign PnF Case Study

Charles Schwab Corp. Campaign PnF Case Study. 3-Box Method

Stepping out to the larger timeframe is essential. Please study this 3-box reversal PnF. It reaches back into 2022. A Campaign PnF Count Accumulation has potential objectives of up to $101 / $105. Also, the prior high is $83 which happens to be in the area of the Swing PnF price objective and natural resistance. Be on the alert for the generation of a new Swing PnF count structure in the months ahead. Often these Swing counts will coincide with the higher Campaign PnF counts. We will be watching.

All the Best,

Bruce

@rdwyckoff

A Very Happy and Prosperous 2025 to You and Yours!

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

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Strongest Top 3 S&P 500 Stocks: Will They Lead the Pack in 2025?

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The Santa Claus Rally may be iffy, but a 23.31% gain in the S&P 500 ($SPX) for the year isn’t too shabby. It was a stellar year in the stock market, especially for the top 10 weighted stocks in the S&P 500, and that’s worth making a toast as we close out 2024.

In terms of the performance of S&P 500 stocks, Palantir Technologies (PLTR), Vistra Corp (VST), and NVIDIA (NVDA) took the top 3 spots. But performance is just one measure, and there are several other benchmarks. One that’s worth considering is strength, and, as the year winds down, let’s look at which S&P 500 stocks ended the year as the technically strongest ones.

In the Sample Scan Library, if you run the S&P 500 Stocks under Predefined Groups and sort the results by the StockCharts Technical Rank (SCTR, pronounced S-C-O-O-T-E-R) from highest to lowest, PLTR takes the crown, followed by United Airlines Holdings Inc. (UAL) and then Tesla Inc. (TSLA). Let’s look at each of these stocks more closely.

PLTR Stock’s Ride to the Top

When PLTR’s stock went public in 2020, it was volatile — there was a lot of chatter about the stock in the media. But in 2022, the stock went through a slump. In 2023, it started showing signs of resurfacing, gaining strength, getting clobbered, and reviving itself before making its way to the top of the performance and strength category.

The daily chart below shows that PLTR’s stock price has had a SCTR score above 76 since early June 2024. During that time, the stock price stayed above its 50-day simple moving average (SMA), except for in August when it dipped below it for two trading days.

FIGURE 1. PLTR STOCK ENDED THE YEAR WITH THE HIGHEST SCTR SCORE. The stock has been in an uptrend since mid-2024.Chart source: StockCharts.com. For educational purposes.

PLTR stock was up 340.59% for the year and ended the year with a SCTR score of 99.7.

UAL Stock Takes Off

Airline stocks, in general, were hit hard by COVID-19, and the recovery has been slow. However, the resumption of travel by US consumers in 2024 helped many airline stocks, especially UAL.

After trading relatively sideways from 2020 to mid-2024, UAL’s stock price started a steep ascent in mid-September 2024. It crossed above its 50-day SMA and has remained above it for the year, hitting its altitude and now cruising at that level with some turbulence (see daily chart of UAL).

FIGURE 2. DAILY CHART OF UAL STOCK PRICE. Since September 2024, UAL has ascended steeply and hit cruising altitude.Chart source: StockCharts.com. For educational purposes.

 The SCTR score has remained above 76 since September 16. UAL stock gained 134.34% in 2024 and ended the year with a SCTR score of 99.1.

TSLA Stock’s Wild Ride

TSLA is a stock that has been front and center in investors’ minds and is one of the most actively traded stocks in the S&P 500. The price gained traction towards the end of 2019 and, even though it had a rough 2022 and a pretty choppy 2023, TSLA’s stock has shown its might towards the second half of 2024 (see daily chart of TSLA).

FIGURE 3. TSLA STOCK’S A LITTLE CHOPPY. Although it has had its ups and downs, the stock rallied during the last quarter of the year.Chart source: StockCharts.com. For educational purposes.

Since the end of October, TSLA’s SCTR score has remained above 76 and the stock price has remained above its 50-day SMA. TSLA’s stock price gained 62.52% in 2024 and ended the year with a 98.4 SCTR score.

The Bottom Line

Will these three stocks — PLTR, TSLA, and UAL — remain strong in 2025? Be sure to add them to your ChartLists so you can keep an eye on their performance.

If the SCTR score remains high, consider adding positions when price pulls back and reverses with a follow-through. If the stocks show signs of weakening, it’s time to reevaluate. Identify which stocks are taking their place, analyze each one, and determine if adding the strong ones can add muscle to your portfolio.

Scanning for S&P 500 stocks with high SCTR scores is relatively simple to do in StockCharts. There are many other scans to explore in the Sample Scan Library. The nice thing is the scans are already built for you — coding skills are not necessary! It’s something to consider for 2025.

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

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Is This ADX Pattern a Warning Sign for Investors?

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In this exclusive StockCharts video, Joe shares a specific ADX pattern that’s signaling potential exhaustion in the momentum right now. Joe analyzes three other market periods that displayed this pattern and the resulting correction which followed. He then discusses some of the most attractive looking cryptos, as well as QQQ and IWM. Finally, he goes through the symbol requests that came through this week.

This video was originally published on January 2, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

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Do You Need Direction for 2025? Here Are 3 Charts You Should NOT Ignore

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A little less than a week ago, I wrote an article about inflation and how it’s nothing more than a pipe dream in Fed Chief Jay Powell’s head. Let me expand on that article, maybe from a slightly different approach this time. The inflation rhetoric just won’t let up. Apparently, it makes no difference that the annual rate of core inflation has fallen from 6.7% to 3.3% and that the Fed sees this same core rate achieving its 2% target in 2027. The Fed still wants to talk about. So let’s let ’em talk. I follow the charts and what Wall Street is saying through these charts. I’m now to the point where I’m simply ignoring Fed Chief Powell and his waffling group of naysayers. Wall Street is speaking and THEIR voice is quite clear, unlike the constant Fed waffling that we’ve witnessed for 3+ years and counting.

A few things happen when inflation is considered problematic. First, money rotates into hedges like gold, other commodities, and/or real estate. Second, you sell the dollar as the currency will be negatively impacted by inflation. Finally, you sell growth stocks like CRAZY! Inflation eats away at the future earnings of growth companies and valuations are typically crushed as a result. I’m going to skip gold/commodities as I discussed both in my last article, but let’s take a look at a few charts to see if Wall Street believes inflation is a problem.

Real Estate

Certain areas of real estate, especially REITs, are a nice hedge against inflation as rents will typically be increased during inflationary periods. So this renewed inflation talk by the Fed is surely sending investors into real estate (XLRE), on a relative basis, correct? You be the judge.

Wow, look at that money pour into real estate! <sarcasm>

The U.S. Dollar (UUP)

Next, it’s time to confirm that everyone is selling the dollar, because you don’t want to get caught holding that bag, when the Fed’s worries about inflation prove true, right? Welllllll……

Yep, Wall Street cannot stand the thought of owning the greenback.

Growth Stocks

Holding growth stocks as inflation surges might be the worst possible investment of all. Growth stock valuations get HAMMERED during inflationary periods. We only have to look back at the 2022 cyclical bear market. Do you remember NVDA losing two-thirds of its market cap in less than 11 months? Even AAPL lost nearly 30% in 2022, before rallying strong as inflation peaked. These types of growth stocks will normally be pounded into the ground given rising inflationary expectations. So let’s see how growth (IWF) is faring vs. the benchmark S&P 500 as inflation gets set to rise again (Fed worry):

Once again, you can say how incredibly nervous Wall Street is about the inflation predicament we’re in. <more sarcasm>

MarketVision 2025

I don’t listen to the Fed when Wall Street says not to. I’ll let the media have its fun with the inflation problem we’re up against (ha ha). Over the years, it’s not about what you hear. It’s always about what you SEE (in the charts). Ignore everything else!

On Saturday, January 4th at 10am ET, MarketVision 2025 will begin and I’m planning to lay out 2025 for you in a way that everyone can understand. This is our 6th MarketVision event and I’ve nailed each of the last 5, in terms of market direction, and I’m confident I’ll nail this one too. I’m not a perma-bull. During MarketVision 2022, I suggested the S&P 500 could drop 20-25% before it happened. If I believe we’re going lower, I’ll say it. Unlike the Fed, I have conviction. I also have a very bold call for you this Saturday. Want to join me? We’re making this as easy as possible for you to join. To register for MarketVision 2025 and to gather more information, please CLICK HERE. One more thing. We’re adding a sweet bonus for all current non-members of EarningsBeats.com that register for Saturday’s event. It’s 1 year of EarningsBeats.com membership at no additional cost, a $997 value. Pay for the Saturday event and get a year of membership FREE. It won’t get any better than this.

Happy New Year to ALL! On behalf of EarningsBeats.com, I wish you all a healthy and prosperous 2025 ahead!

Happy trading!

Tom

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A State-by-State Guide to Cannabis in Australia

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Australia federally legalised medicinal cannabis in 2016, and Australia’s cannabis market has seen major growth since then.

Medical cannabis approvals were up by 120 percent in the first half of 2023 compared to the same period in 2022. Statista forecasts that Australian cannabis revenue will reach AU$3.73 billion in 2024 and grow at an annual rate of 3.22 percent, culminating in market volume worth AU$4.53 billion by 2029.

However, Australia’s cannabis industry is still young. Despite there being a strong case for a regulated market, which was outlined in a July 2024 report by the Penington Institute, recreational use is not legal and medical access remains limited and regulated. Yet, public support for legalisation is growing. YouGov data released in January 2024 showed that over half of Australians polled are in favour of decriminalising cannabis, and half of the respondents between the ages of 18 and 49 support legalising personal use.

In 2023, the Australian Greens, the country’s only seat-holding federal party in favour of legalisation, introduced the Legalising Cannabis Bill 2023. Sponsored by the party’s leader Senator David Shoebridge, the bill was Australia’s first parliamentary effort to legalise cannabis.

The legislation proposed that all citizens above the age of 18 can grow up to six plants per household and share homegrown cannabis products with others. Additionally, it proposed allowing individuals to possess up to 50 grams of cannabis.

The Legalising Cannabis Bill was amended based on survey results and expert feedback to address concerns related to underage buying and consumption, as well as quality, packaging and labelling of cannabis products. The Senate Legal and Constitutional Affairs Committee began an inquiry into the Legalising Cannabis Bill 2023 in September 2023 and released its report on May 31, 2024, in which the committee recommended that the Senate not pass the bill.

On November 27, the parliament voted on the bill, marking the first time the Federal Parliament voted on a plan to legalise recreational cannabis across the country. The result was a 13 to 24 vote against the legalisation.

Following the vote, Shoebridge said on Bluesky, ‘Labor and the Coalition once again teaming up to vote down law reform the community wants.’ He promised that they not giving up on legalising cannabis in a post on X, formerly known as Twitter.

As for the medical side, medical cannabis patients have access to various forms of the drug, including flower, oils and tinctures. However, only two medicinal cannabis products, Sativex and Epidyolex, are registered with the Therapeutic Goods Administration, and none are subsidised through the country’s Pharmaceutical Benefits Scheme. Patients who want access to medicinal cannabis must go through special pathways, and doctors who want to prescribe medicinal cannabis have to apply to do so.

At the state and territory level, the situation is more complex as each area of Australia has different rules that must be followed. Read on for a breakdown of the laws for medicinal and recreational cannabis in Australia’s six states and two territories, including one that legalised recreational cannabis possession.

In this article

    Guide to cannabis in Australia: New South Wales

    Use, supply and possession of cannabis is illegal in New South Wales (NSW), but first-time offenders with less than 15 grams on hand may only be issued a caution. Up to two cautions can be received; they often come with a referral for drug-related information. In February 2024, the NSW government expanded the program, allowing offenders to complete a drug and alcohol intervention program in place of paying the AU$400 fine.

    However, any doctor can prescribe medicinal cannabis if it is determined an appropriate treatment and the doctor has the approvals required to do so. The NSW government has also allocated over AU$9 million to the Centre for Medicinal Cannabis Research and Innovation to educate the community, monitor clinical trials and conduct research into cannabis’ efficacy in treating conditions such as epilepsy and nausea associated with cancer treatments.

    In February, while announcing a task force to drive growth in NSW’s hemp industry, Agriculture Minister Tara Moriarty told Guardian Australia that while the cultivation of hemp and cannabis are separate issues, she was open to increasing medicinal cannabis production and reforming state drug laws.

    During its run for the last election in 2023, the Labor Party of NSW promised to hold a Parliamentary Drug Summit, the first of its kind since 1999. The four-day summit is scheduled to take place later this year, with two days of forums held in regional towns in November and meetings in Sydney on December 4 and 5.

    An inquiry into the “true socio-economic cost and the opportunities of cannabis legalisation” was launched on March 21, 2024, chaired by Legalise Cannabis MP Jeremy Buckingham. The views and opinions of health experts, advocates and users have been submitted to the inquiry as of June, and the inquiry will report its findings before the summit.

    According to the release, NSW treasurer and upper house MP Daniel Mookhey said the government “welcomed the opportunity to hear from experts, but warned any potential policy reform would be examined at the state’s drug summit later this year.”

    Buckingham has also called on the NSW government to investigate a defence for unimpaired drivers who use medical cannabis.

    The NSW government is currently holding the NSW Drug Summit, which seeks to ‘bring together a range of perspectives and build consensus on the way NSW addresses drug use and harms.’

    One was held in Griffith on November 1 and another in Lismore on November 4. Two consecutive days of the summit will take place in Sydney on December 4 and 5.

    The summit is taking input from the public, inviting individuals and organizations to submit their proposals and/or opinions pertaining to the summit’s discussions. The survey is available here.

    Guide to cannabis in Australia: Victoria

    Victoria was the first state to legalise medical marijuana use, and young children living with epilepsy were the first to gain access. Medical cannabis can be prescribed by any physician to a patient with any medical condition if the physician believes it is clinically appropriate and has obtained the necessary approval from the relevant regulatory body.

    Recreational cannabis possession and use is a criminal offence in Victoria, but similar to New South Wales, those caught with a first offence of 50 grams or less are typically given a caution and directions to attend drug counselling. It’s more serious if there are additional charges or if a person is found with over 50 grams; 250 grams, or 10 plants, is considered a traffickable quantity of cannabis.

    Last year, a Legalise Cannabis MP put forward a private member’s bill for personal use cannabis reform. The bill was discussed in an upper house debate in December, with opponents citing the risk of abuse and need to protect young and Indigenous Australians and supporters arguing that prohibition causes more harm. While it did not receive government support, the current Labor Party of Victoria has expressed a willingness to explore reformation.

    On May 20, the government announced the launch of a closed-circuit trial in partnership with Swinburne University to assess driving abilities of medical cannabis users. Under the current law, drivers found with any trace of THC in their saliva face a mandatory licence suspension and fines, even though THC is detectable for several hours after ingestion.

    The trial was scheduled to begin in September 2024 and last 18 months. Advocates were disappointed that it will not finish in 2024 as previously promised, with the completion expected in late 2025.

    Cannabis Council Australia said in a November 13 newsletter that both houses of parliament in Victoria have successfully passed the Roads and Road Safety Legislation Amendment Bill 2024. This bill provides magistrates the discretion to evaluate individual cases where drivers, holding valid medicinal cannabis prescriptions, test positive for THC but show no signs of impairment.

    The bill will take effect in mid 2025.

    Guide to cannabis in Australia: Queensland

    In Queensland, growing cannabis and recreational use are illegal under four different acts. Under the Drugs Misuse Act 1986, unlawful possession, supply, production and trafficking have maximum penalties of up to 20 years imprisonment, depending on circumstances such as how much cannabis is involved.

    Medicinal use is less frowned upon in Queensland as any registered medical practitioner in the state can prescribe medicinal cannabis if clinically appropriate. Previously, the medical practitioner must have obtained Commonwealth approval in most circumstances; however, after new legislation changes in June 2020, any Queensland doctor can prescribe Schedule 4 CBD or Schedule 8 THC or CBD oil products without formal approval from state health authorities.

    Medicinal cannabis can be administered via vapour, capsules, sprays or tinctures — smoking cannabis is not allowed in Queensland. Advertising medicinal cannabis is restricted to the medical, wholesale and pharmaceutical professions only.

    However, Essential’s August 2023 poll results show that half of Queenslanders support the state’s legalisation, and members of the Labor party have called for the legalisation of personal possession of small quantities. This year, several Legalise Cannabis MPs joined festival-goers at MardiGrass 2024, an annual Cannabis Law Reform Protestival held in Nimbin, a small town about 20 kilometres from the NSW border that’s known for its residents’ alternative lifestyles as well as for cannabis culture.

    A petition was also posted by Greens MP Michael Berkman to call on the government to make Queensland the first state to fully legalise cannabis. It has a target of 500 signatures, which it passed as of November 2024.

    Guide to cannabis in Australia: South Australia

    Cannabis flower, cannabis oil and cannabis resin are all illegal to keep, use, grow, sell or give away in South Australia. Possession for personal use can be penalised with an expiation, which is a fine without a criminal conviction. Large-scale trafficking or selling can attract big penalties of up to AU$1 million, 15 years to life imprisonment or both.

    Those looking for medical cannabis products can obtain them via prescription from an authorised medical practitioner in the region. Approval under South Australian Controlled Substances legislation is also often required, although there are exemptions for elderly and terminal patients.

    Despite South Australia having the most supporters for legalisation, reformation attempts have been unsuccessful. Member of Legislative Council Tammy Franks of the South Australian Green Party re-introduced the Cannabis Legalisation Bill 2022 in May 2022, but it has not progressed through the legislative process.

    In September, a joint committee including members from several parties, including Franks, put forward an interim report with 13 unanimous recommendations. Among them was a call to reform zero tolerance roadside drug-testing laws to protect medicinal cannabis users in the state.

    A spokesperson of the government said that the recommendations would be considered in ‘due course,’ and that ‘the government is open-minded to further improvements while ensuring road safety outcomes are maintained and any action taken is informed by research.”

    Guide to cannabis in Australia: Western Australia

    Even though Western Australia previously decriminalised cannabis in 2004, Liberal Premier Colin Barnett repealed the decision in 2011 as part of a “tough on crime” approach.

    Possession of 10 grams or less can lead to a cannabis intervention requirement (CIR). This means the individual can attend a cannabis intervention session instead of facing a criminal conviction. If the person is 18 or older, they may receive only one CIR; however, those younger can receive two. Possessing more than 10 grams can result in a fine of up to AU$2,000, two years in jail, or both. Penalties are more severe for possession of over 100 grams.

    Medicinal cannabis is available via prescription from any doctor in WA providing they have the required government approval. Prescriptions can be dispensed at any pharmacy. Driving with THC in your system is an offence in Western Australia.

    Recently, two Legalise Cannabis MPs proposed bills to the State Parliament. The first would allow Western Australians to possess up to 50 grams of cannabis and to grow up to six plants per household. The Bill was introduced on March 21, 2024, with a debate held on June 21. However, the bill was rejected. The second bill called for a referendum question on the subject to be included on the state election ballot in March 2025.

    On September 12, Dr. Brian Walker of Legalise Cannabis Party in Western Australia shared that the Legislative Council approved the motion to review the state’s industrial hemp legislation and regulation to make the plant easier to grow. He regarded the debate as “open and healthy,” adding that he hopes this would lead to “more acceptance of a crop which stands to deliver billions of dollars for the WA economy each and every year.”

    Guide to cannabis in Australia: Tasmania

    Prior to July 1, 2021, obtaining medicinal cannabis was fairly complicated in Tasmania — patients had to be referred to a specialist by their general practitioner, and then the specialist would make a decision. Generally cannabis would only be provided by specialists in limited circumstances once conventional treatment had been unsuccessful. Now general practitioners can fill out prescriptions if they believe it is clinically appropriate and if they have both Commonwealth and state approval to do so.

    Possession of cannabis is illegal in Tasmania — in fact, any utensil or appliance for preparation, smoking or inhalation of cannabis is illegal and can attract a maximum fine of AU$7,950. Trafficking an amount of 25 grams of oil or 1 kilogram of plant material carries a serious imprisonment term of up to 21 years. However, police may issue up to three warnings for possession of less than 50 grams.

    Guide to cannabis in Australia: Northern Territory

    Cannabis is largely decriminalised in the Northern Territory (NT), but possession of a small quantity in a public place still carries an imprisonment penalty. Possession of less than 50 grams in your own home is penalised with a fine of up to AU$200. The penalty for cultivating, even small amounts of less than five plants, is 200 penalty units or two years imprisonment. A commercial quantity of more than 20 plants results in life imprisonment, as does “cultivation in front of a child.”

    The first NT medicinal cannabis patient to fill a script did so in November 2019, but uptake has been slow since then and the NT has a low number of users. That’s largely because there are few doctors who are authorised prescribers in the NT, and as the area is remote, travel to those clinics is not feasible for all residents.

    Schedule 8 medicinal cannabis medicines are regulated in the same way as other Schedule 8 medicines such as morphine and oxycodone in the Northern Territory. The government said that there is no need for a prescriber to obtain an authorization prior to prescribing medicinal cannabis for a particular patient, but that they are required to notify the Chief Health Officer should the patient need to receive the medicine for more than two months due to the treatment being successful.

    Products containing CBD are Schedule 4, and as such can be prescribed and continued without need for notification.

    Guide to cannabis in Australia: Australian Capital Territory

    In September 2019, the Australian Capital Territory (ACT) passed a bill to legalise the possession of small amounts of cannabis for personal use as of January 31, 2020, if the possessor is 18 years of age or older. It’s important to note that the ACT’s state laws conflict with federal laws, which still prohibit the recreational use of cannabis, and federal lawmakers have attempted to overturn the legislation in the past.

    ACT residents who are over 18 can carry up to 50 grams of dry cannabis, or 150 grams of wet material, and can grow as many as two plants per person (or four per household). Exceeding limits precipitates a fine, not criminal charges. Plants must also be grown outdoors only, leaving them open to theft.

    Medicinal cannabis is available for ACT patients with a number of conditions on a case-by-case basis. Doctors must have approval from the ACT Chief Health Officer and the Therapeutic Goods Administration to prescribe.

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

    Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

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    13 Canadian Crypto ETFs

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    Cryptocurrencies such as Bitcoin and Ethereum offer an alternative route for building and storing wealth. While directly holding these digital assets is a popular option, investors are also clamoring for financial products such as crypto exchange-traded funds (ETFs).

    Canada first launched Bitcoin and Ethereum ETFs in 2021. These Canadian Bitcoin and Ethereum ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

    “There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.

    Interest has only increased since then. In the US, Bitcoin ETFs’ net assets surpassed US$100 billion on November 21, gaining ground on US gold ETFs. Sean Farrell, head of digital asset strategy at Fundstrat, wrote in mid-2023 that the Bitcoin ETF category at large has the potential to surpass the precious metals ETF market in terms of asset value. ‘Bitcoin ETF eventually could become >$300 billion category,’ he stated in the note.

    Ethereum ETFs have also become a major talking point. Ethereum is the most widely used blockchain technology, and Ether, the digital currency of this platform, is the second largest cryptocurrency after Bitcoin.

    With that in mind, it’s worth taking a look at the currently available Canadian cryptocurrency ETFs. The list below includes 13 Ether and Bitcoin ETFs available on the Canadian market sorted by assets under management, and all data presented is current as of November 21, 2024.

    1. Purpose Bitcoin ETF (TSX:BTCC)

    Company Profile

    Assets under management: C$3.4 billion

    Billed as the world’s first physically settled Bitcoin ETF, the Purpose Bitcoin ETF launched in February 2021 and is backed by Bitcoin in cold storage. This means the fund allows investors to add and sell Bitcoin with no digital wallet required.

    Hosted by Canadian investment company Purpose Investments, the Purpose Bitcoin ETF is backed by 25610.96 Bitcoins and has a management expense ratio of 1 percent.

    2. CI Galaxy Bitcoin ETF (TSX:BTCX.B)

    Company Profile

    Assets under management: C$1.19 billion

    Launched in March 2021, the CI Galaxy Bitcoin ETF was born out of a partnership between cryptocurrency leaders Galaxy Fund Management and CI Global Asset Management. Galaxy Fund Management is part of Galaxy Digital, a diversified financial services firm with a focus on digital assets and the blockchain technology sector.

    The ETF’s objective is to give investors exposure to Bitcoin via an institutional-quality fund platform, as its holdings are wholly Bitcoin and are kept in cold storage. At 0.4 percent, this fund boasts one of the lowest management fees of all the crypto funds on the market.

    3. Fidelity Advantage Bitcoin ETF (TSX:FBTC)

    Company Profile

    Assets under management: C$879.9 million

    The newest Bitcoin fund on this list, the Fidelity Advantage Bitcoin ETF, launched in November 2021. It offers the security of Fidelity’s in-house cold storage services for its holdings.

    While it previously had a management fee of 0.4 percent, in line with the CI and Galaxy funds, the Fidelity Advantage Bitcoin ETF lowered it in January 2024 to an ultra-low management fee of 0.39 percent.

    4. CI Galaxy Ethereum ETF (TSX:ETHX.B)

    Company Profile

    Assets under management: C$503.35 million

    The CI Galaxy Ethereum ETF, another collaboration between CI and Galaxy, offers investors exposure to the spot Ethereum price through Ether holdings in cold storage. The fund launched on April 20, 2021, the same day as two of the other Ether ETFs on this list.

    At the time, CI Global Asset Management suggested that “owning Ether is similar to owning a basket of early-stage, high-growth technology stocks.”

    The CI Galaxy Ethereum ETF has notably low management fees of just 0.4 percent.

    5. Purpose Ether ETF (TSX:ETHH)

    Company Profile

    Assets under management: C$403 million

    The Purpose Ether ETF is a direct-custody Ether ETF that launched on April 20, 2021. This fund holds 94065.95 Ether, which it stores in cold storage.

    The Purpose Ether ETF offers investors exposure to the daily price movements of physically settled Ether tokens with a management fee of 1 percent.

    6. Evolve Bitcoin ETF (TSX:EBIT)

    Company Profile

    Assets under management: C$342.54 million

    Evolve ETFs partnered with cryptocurrency experts, including Gemini Trust Company, CF Benchmarks, Cidel Bank & Trust and CIBC Mellon Global Services, to launch the Evolve Bitcoin ETF. The fund, which holds its own Bitcoin, has a management fee of 0.75 percent.

    Launched a week after the Purpose Bitcoin ETF, its holdings of Bitcoin are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for Bitcoin denominated in US dollars.

    7. 3iQ CoinShares Bitcoin ETF (TSX:BTCQ)

    Company Profile

    Assets under management: US$244.35 million

    Launched in March 2021, the 3iQ CoinShares Bitcoin ETF tracks the price movement of Bitcoin in US dollar terms and holds its Bitcoin assets in cold storage. This ETF has a management fee of 1 percent. Figures for this ETF were accurate as of October 31, 2024, according to the fund website.

    8. Purpose Bitcoin Yield ETF (TSX:BTCY)

    Company Profile

    Assets under management: C$149.9 million

    The Purpose Bitcoin Yield ETF uses a covered call strategy to generate yield for investors, which involves writing call options on Bitcoin. Call options give the buyer an option to purchase an asset at a specific price on or before a specific date.

    Its structure allows the fund to earn income from option premiums while providing investors with exposure to Bitcoin’s price movements. Its distributions are paid monthly.

    9. Evolve Ether ETF (TSX:ETHR)

    Company Profile

    Assets under management: C$92.89 million

    The Evolve Ether ETF offers investors an easier route to investing directly in Ether. The fund’s holdings of Ether are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for Ether denominated in US dollars. As with the Evolve Bitcoin ETF, the Evolve Ether ETF has a management fee of 0.75 percent.

    10. Evolve Cryptocurrencies ETF (TSX:ETC)

    Company Profile

    Assets under management: C$72.66 million

    The Evolve Cryptocurrencies ETF launched in September 2021 as the first multi-cryptocurrency ETF, providing combined exposure to both Bitcoin and Ether.

    This product from Evolve ETFs allows investors to diversify their crypto portfolios and provides indirect exposure to the two coins, weighing them by market capitalization and rebalancing its holdings on a monthly basis. Bitcoin makes up the majority of its portfolio.

    While this ETF has no management fee, the underlying funds that hold both Bitcoin and Ether have management fees of 0.75 percent plus applicable taxes.

    11. Purpose Ether Yield ETF (TSX:ETHY)

    Company Profile

    Assets under management: C$69.6 million

    Like the Purpose Bitcoin Yield ETF, the Purpose Ether Yield ETF offers investors an opportunity to invest in Ether while also generating yield. Purpose Investments lends a portion of its Ether holdings to institutional borrowers and earns interest on those loans.

    Investors who purchase shares of this ETF receive a portion of the interest earned in monthly distributions.

    12. 3iQ CoinShares Ether Staking ETF (TSX:ETHQ)

    Company Profile

    Assets under management: C$‪52.77 million

    Following the success of its Bitcoin ETF, 3iQ Digital Asset Management launched its CoinShares Ether Staking ETF in April 2021. This fund has a similar objective, offering exposure to Ether and its daily US dollar price movements. It also has a management fee of 1 percent.

    Figures for this fund were accurate as of October 31, 2024, according to the fund website.

    13. Fidelity Advantage Ether ETF (TSX:FETH)

    Company Profile

    Assets under management: C$28.2 million

    Following the successful launch of its Bitcoin fund, Fidelity brought its Advantage Ether ETF to market in September 2022, making this the newest Ether ETF in Canada. Its holdings are stored in Fidelity’s in-house cold storage.

    The Fidelity Advantage Ether ETF has a management fee of 0.4 percent.

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

    This post appeared first on investingnews.com

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    How Would a New BRICS Currency Affect the US Dollar?

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    The BRICS nations, originally composed of Brazil, Russia, India, China and South Africa, are looking to establish a new reserve currency backed by a basket of their respective currencies.

    All eyes were recently on the 2024 BRICS Summit that took place October 22 to 24 in Kazan, Russia. The BRICS nations were widely expected to continue their discussions of creating a potentially gold-backed currency, known as the ‘Unit,’ as an alternative to the US dollar.

    The potential BRICS currency would allow these nations to assert their economic independence while competing with the existing international financial system. The current system is dominated by the US dollar, which accounts for about 90 percent of all currency trading. Until recently, nearly 100 percent of oil trading was conducted in US dollars; however, in 2023, one-fifth of oil trades were reportedly made using non-US dollar currencies.

    Central to this ongoing situation is the US trade war with China, as well as US sanctions on China and Russia. Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand, or what’s known as de-dollarization. In turn, this would have implications for the United States and global economies.

    US President Elect Donald Trump has not been shy about upping the ante on American protectionism with his plans to slap tariffs on imported goods. During the first US Presidential Debate between with Vice President Kamala Harris on September 10, Trump doubled down on his pledge to impose strict tariffs on nations seeking to move away from the US dollar as the global currency. He is taking a particularly strong stance against China, threatening to implement 60 percent to 100 percent tariffs on Chinese imports, although these hefty tariffs would be paid by American companies and consumers purchasing Chinese products, not by China itself.

    More recently, in early December, Trump posted an even more direct threat to BRICS nations on the social media platform Truth Social. “We require a commitment from these countries that they will neither create a new Brics currency nor back any other currency to replace the mighty US dollar or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy,” he wrote.

    Trump’s America-first policies are expected to drive up the value of the dollar compared to its global counterparts, as was already on display the day following his historic election win on November 5 as China’s yuan, Russia’s ruble, Brazil’s real, India’s rupee and South Africa’s rand all fell. This could in turn push these BRICS member nations to look for new paths to move away from the US dollar.

    At this year’s BRICS summit, Russian President Vladimir Putin appeared on stage holding what appeared as a prototype of a possible BRICS banknote. However, he seemed to back away from previous aggressive calls for de-dollarization, stating the goal of the BRICS member nations is not to move away from the US dollar-dominated SWIFT platform, but rather to deter the ‘weaponization’ of the US dollar by developing alternative systems for using local currencies in financial transactions between BRICS countries and with trading partners.

    ‘We are not refusing, not fighting the dollar, but if they don’t let us work with it, what can we do? We then have to look for other alternatives, which is happening,’ he stated.

    In response to Trump demanding a ‘commitment’ from BRICS nations not to challenge the supremacy of the US dollar, Kremlin spokesperson Dmitry Peskov sounded less than threatened. ‘More and more countries are switching to the use of national currencies in their trade and foreign economic activities,’ said Peskov, as per Reuters. ‘If the U.S. uses force, as they say economic force, to compel countries to use the dollar it will further strengthen the trend of switching to national currencies (in international trade).’

    It’s still too hard to predict if and when a BRICS currency will be released, but it’s a good time to look at the potential for a BRICS currency and its possible implications for investors.

    In this article

      Why do the BRICS nations want to create a new currency?

      The BRICS nations have a slew of reasons for wanting to set up a new currency. Recent global financial challenges and aggressive US foreign policies have prompted the BRICS countries to explore the possibility. They want to better serve their own economic interests while reducing global dependence on the US dollar and the euro.

      When will a BRICS currency be released? There’s no definitive launch date as of yet, but the countries’ leaders have discussed the possibility at length. During the 14th BRICS Summit, held in mid-2022, Russian President Vladimir Putin said the BRICS countries plan to issue a ‘new global reserve currency,’ and are ready to work openly with all fair trade partners.

      In April 2023, Brazilian President Luiz Inacio Lula da Silva showed support for a BRICS currency, commenting, “Why can’t an institution like the BRICS bank have a currency to finance trade relations between Brazil and China, between Brazil and all the other BRICS countries? Who decided that the dollar was the (trade) currency after the end of gold parity?”

      In the lead up to the 2023 BRICS Summit last August, there was speculation that an announcement of such a currency could be on the table. This proved to be wishful thinking, however.

      ‘The development of anything alternative is more a medium to long term ambition. There is no suggestion right now to creates a BRICS currency,’ Leslie Maasdorp, CFO of the New Development Bank, told Bloomberg at the time. The bank represents the BRICS bloc.

      South Africa’s BRICS ambassador, Anil Sooklal, has said as many as 40 countries have expressed interest in joining BRICS. At the 2023 BRICS Summit , six countries were invited to become BRICS members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates. All but Argentina officially joined the alliance in January 2024.

      At the 2024 BRICS Summit, 13 nations signed on as BRICS partner countries (not yet full-fledged members): Algeria, Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Vietnam and Uzbekistan.

      In recent years, the US has placed numerous sanctions on Russia and Iran. The two countries are working together to bring about a BRICS currency that would negate the economic impacts of such restrictions, according to Iranian Ambassador to Russia Kazem Jalal, speaking at a press conference during the Russia–Islamic World: KazanForum in May 2024.

      Some experts believe that a BRICS currency is a flawed idea, as it would unite countries with very different economies. There are also concerns that non-Chinese members might increase their dependence on China’s yuan instead. That said, when Russia demanded in October 2023 that India pay for oil in yuan as Russia is struggling to use its excess supply of rupees. However, India refused to use anything other than the US dollar or rupees to pay.

      What would the advantages of a BRICS currency be?

      A new currency could have several benefits for the BRICS countries, including more efficient cross-border transactions and increased financial inclusion. By leveraging blockchain technology, digital currencies and smart contracts, the currency could revolutionize the global financial system. Thanks to seamless cross-border payments, it could also promote trade and economic integration among the BRICS nations and beyond.

      A new BRICS currency would also:

      • Strengthen economic integration within the BRICS countries
      • Reduce the influence of the US on the global stage
      • Weaken the standing of the US dollar as a global reserve currency
      • Encourage other countries to form alliances to develop regional currencies
      • Mitigate risks associated with global volatility due to unilateral measures and the diminution of dollar dependence

      How would a new BRICS currency affect the US dollar?

      RomanR / Shutterstock

      For decades, the US dollar has enjoyed unparalleled dominance as the world’s leading reserve currency. According to the US Federal Reserve, between 1999 and 2019, the dollar was used in 96 percent of international trade invoicing in the Americas, 74 percent in the Asia-Pacific region and 79 percent in the rest of the world.

      According to the Atlantic Council, the US dollar is used in approximately 88 percent of currency exchanges, and 59 percent of all foreign currency reserves held by central banks. Due to its status as the most widely used currency for conversion and its use as a benchmark in the forex market, almost all central banks worldwide hold dollars. Additionally, the dollar is used for the vast majority of oil trades.

      Although the dollar’s reserve currency share has decreased as the euro and yen have gained popularity, the dollar is still the most widely used reserve currency, followed by the euro, the yen, the pound and the yuan.

      The potential impact of a new BRICS currency on the US dollar remains uncertain, with experts debating its potential to challenge the dollar’s dominance. However, if a new BRICS currency was to stabilize against the dollar, it could weaken the power of US sanctions, leading to a further decline in the dollar’s value. It could also cause an economic crisis affecting American households. Aside from that, this new currency could accelerate the trend toward de-dollarization.

      Nations worldwide are seeking alternatives to the US dollar, with examples being China and Russia trading in their own currencies, and countries like India, Kenya and Malaysia advocating for de-dollarization or signing agreements with other nations to trade in local currencies or alternative benchmarks.

      While it is unclear whether a new BRICS currency would inspire the creation of other US dollar alternatives, the possibility of challenging the dollar’s dominance as a reserve currency remains. And as countries continue to diversify their reserve holdings, the US dollar could face increasing competition from emerging currencies, potentially altering the balance of power in global markets.

      However, a recent study by the Atlantic Council’s GeoEconomics Center released in June 2024 shows that the US dollar is far from being dethroned as the world’s primary reserve currency.

      ‘The group’s ‘Dollar Dominance Monitor’ said the dollar continued to dominate foreign reserve holdings, trade invoicing, and currency transactions globally and its role as the primary global reserve currency was secure in the near and medium term,’ reported Reuters.

      Ultimately, the impact of a new BRICS currency on the US dollar will depend on its adoption, its perceived stability and the extent to which it can offer a viable alternative to the dollar’s longstanding hegemony.

      Will BRICS have a digital currency?

      BRICS nations do not as of yet have their own specific digital currency, but a BRICS blockchain-based payment system is in the works, according to Kremlin aide Yury Ushakov in March 2024. Known as the BRICS Bridge multisided payment platform, it would connect member states’ financial systems using payment gateways for settlements in central bank digital currencies.

      The planned system would serve as an alternative to the current international cross-border payment platform, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, which is dominated by US dollars.

      “We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people and businesses, as well as cost-effective and free of politics,” Ushakov said in an interview with Russian news agency TASS.

      Another dollar-alternative digital currency cross-border payment system in the works is Project mBridge, under development via a collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People’s Bank of China and the Central Bank of the United Arab Emirates. Saudi Arabia has also recently decided to join the project. The central bank digital currencies traded on the platform would be backed by gold and local currencies minted in member nations.

      In June 2024, Forbes reported that the mBridge platform had reached a significant milestone by completing its minimal viable product stage (MVP). The MVP platform can undertake real-value transactions (subject to jurisdictional preparedness) and is compatible with the Ethereum Virtual Machine (EVM), a decentralized virtual environment that executes code consistently and securely across all Ethereum nodes,’ stated the publication. ‘MVP thus is suitable as a testbed for new use cases and interoperability with other platforms.’

      ‘(New Development Bank President Dilma Rousseff) came out and publicly said that there has been an agreement in principle to use a new settlement currency called the Unit, which will be backed 40 percent by gold and 60 percent by the local currencies in the BRICS union — the BRICS+ countries. That gold will be in the form of kilo bars and will be deliverable or redeemable for those entities,’ Schectman said.

      ‘The basket of gold and the basket of currencies will be minted in the member countries … it will be put into an escrow account, taken off the ledger so to speak — off of their balance sheet and put onto the mBridge ledger, and held in an escrow account in their own borders. It doesn’t need to be sent to a central authority.’

      How would a BRICS currency impact the economy?

      A potential shift toward a new BRICS currency could have significant implications for the North American economy and investors operating within it. Some of the most affected sectors and industries include:

      • Oil and gas
      • Banking and finance
      • Commodities
      • International trade
      • Technology
      • Tourism and travel
      • The foreign exchange market

      A new BRICS currency would also introduce new trading pairs, alter currency correlations and affect market volatility, requiring investors to adapt their strategies accordingly.

      How can investors prepare for a new BRICS currency?

      Adjusting a portfolio in response to emerging BRICS currency trends may be a challenge for investors. However, several strategies can be adopted to capitalize on these trends.

      • Invest in commodities like gold and silver as a hedge against currency risk.
      • Gain exposure to BRICS equity markets through stocks and ETFs that track BRICS market indexes.
      • Consider alternative investments such as real estate or private equity in the BRICS countries.

      Prudent investors will also weigh these strategies against their exposure to market, political and currency fluctuations.

      In terms of investment vehicles, investors could consider ETFs such as the iShares MSCI BIC ETF (ARCA:BKF) or the Pacer Emerging Markets Cash COW 100 ETF (NASDAQ:ECOW). They could also invest in mutual funds such as the T. Rowe Price Emerging Markets Equity Fund, or in individual companies within the BRICS countries.

      Simply put, preparing for a new BRICS currency or potential de-dollarization requires careful research and due diligence by investors. Diversifying currency exposure, and investing in commodities, equity markets or alternative investments are possible options to consider while being mindful of the associated risks.

      Investor takeaway

      While it is not certain whether the creation of a BRICS reserve currency will come to pass, its emergence would pose significant implications for the global economy and potentially challenge the US dollar’s dominance as the primary reserve currency. This development would present unique investment opportunities, while introducing risks to existing investments as the shifting landscape alters monetary policy and exacerbates geopolitical tensions.

      For those reasons, investors should closely monitor the progress of a possible BRICS currency. And, if the bloc does eventually create one, it will be important watch the currency’s impact on BRICS member economies and the broader global market. Staying vigilant will help investors to capitalize on growth prospects and hedge against potential risks.

      FAQs for a new BRICS currency

      Is a BRICS currency possible?

      Some financial analysts point to the creation of the euro in 1999 as proof that a BRICS currency may be possible. However, this would require years of preparation, the establishment of a new central bank and an agreement between the five nations to phase out their own sovereign currencies; it would most likely also need the support of the International Monetary Fund to be successful internationally.

      The impact of its war on Ukraine will continue to weaken Russia’s economy and the value of the ruble, and China is intent on raising the power of the yuan internationally. There is also a wide chasm of economic disparity between China and other BRICS nations. These are no small obstacles to overcome.

      Would a new BRICS currency be backed by gold?

      Additionally, speaking at this year’s New Orleans Investment Conference, well-known author Jim Rickards gave a detailed talk on how a gold-backed BRICS currency could work. He suggested that if a BRICS currency unit is worth 1 ounce of gold and the gold price goes to US$3,000 per ounce, the BRICS currency unit would be worth US$3,000, while the dollar would lose value compared to the BRICS currency as measured by the weight of gold.

      Importantly though, he doesn’t see this as a new gold standard, or the end of the US dollar or the euro.

      “(With) a real gold standard, you can take the currency and go to any one of the central banks and get some gold,” Rickards said at the event. “With BRICS they don’t have to own any gold, they don’t have to buy any gold, they don’t have to prop up the price. They can just rise on the dollar gold market.’

      How much gold do the BRICS nations have?

      As of Q2 2024, the combined central bank gold holdings of the original BRICS nations plus Egypt (the only nation of the five new additions to have central bank gold reserves) accounted for more than 20 percent of all the gold held in the world’s central banks. Russia, India and China rank in the top 10 for central bank gold holdings.

      Russia controls 2,335.85 metric tons (MT) of the yellow metal, making it the fifth largest for central bank gold reserves. China follows in the sixth spot with 2,264.32 MT of gold and India places eighth with 840.76 MT. Brazil and South Africa’s central bank gold holdings are much smaller, coming in at 129.65 MT and 125.44 MT, respectively. New BRICS member Egypt’s gold holdings are equally small, at 126.57 MT.

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

      This post appeared first on investingnews.com

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      Element79 Gold Corp. Announces Grant of Management Cease Trade Order

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      (TheNewswire)

      Vancouver, January 2, 2025 TheNewswire – Element79 Gold Corp. ( CSE:ELEM ) ( OTC:ELMGF ) (FSE:7YS) (‘Element79 Gold’, or ‘ the Company’) announces today that due to timing delays related to changing auditors, it has miss ed its filing deadline of December 30, 2024 for its audited annual financial statements and accompanying M anagement’s D iscussion and A nalysis as well as the related CEO and CFO certificates for the year ended August 31, 2024 (collectively, the ‘Annual Filings’), as required under applicable Canadian securities laws.

      In connection with the Company’s inability to file the Annual Filings on time, the Company announces that it was granted approval for a Management Cease Trade Order (‘MCTO’) under National Policy 12-203 – Management Cease Trade Orders (‘NP 12-203’) by the British Columbia Securities Commission , as principal regulator . The Company changed its auditor in May 2024, and as a result of audit complications and requirements resulting from increased transaction volume experienced by the Corporation, it requires the extension and therefore applied for the MCTO . The Company anticipates that, subject to current conditions remaining the same, it will require approximately three additional weeks to complete the process and will use its best efforts to complete the process within the timeline indicated.

      The Company expects to file the Annual Filings as soon as they are available, but in any event no later than January 30, 2025 .

      Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.

      During the MCTO, the general investing public will continue to be able to trade in the Company’s common shares listed on the Canadian Securities Exchange. However, the Company’s Chief Executive Officer and Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities will not be able to trade in the Company’s shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company until such time as the Annual Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted.

      The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

      About Element79 Gold Corp.

      Element79 Gold is a mining company actively exploring and developing its portfolio of assets, including the high-grade, past-producing Lucero project in Arequipa, Peru, and properties along the Battle Mountain Trend in Nevada. The Company also holds an option to acquire the Dale Property in Ontario and is advancing the Plan of Arrangement spin-out process for its wholly owned subsidiary, Synergy Metals Corp.

      For further details on this announcement and the Company’s projects, please visit www.element79.gold .

      For corporate matters, please contact:

      James C. Tworek, Chief Executive Officer

      Email: jt@element79.gold

      For investor relations inquiries, please contact:

      Investor Relations Department
      Phone: +1.403.850.8050
      Email: investors@element79.gold

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

      Copyright (c) 2025 TheNewswire – All rights reserved.

      News Provided by TheNewsWire via QuoteMedia

      This post appeared first on investingnews.com

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      SSR Mining’s Marigold Mine Reaches Production Milestone of 5 Million Ounces

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      Intermediate gold miner SSR Mining (TSX:SSRM,NASDAQ:SSRM,ASX:SSR) wrapped up 2024 with the news that its Marigold mine has produced 5 million ounces of the yellow metal over its 35 year life.

      According to the company, Marigold achieved the record on Monday (December 30).

      “Producing five million ounces of gold over 35 years of continuous operations is a testament to the quality of the Marigold mine and its team,’ said Executive Chairman Rod Antal in SSR Mining’s release.

      Marigold was acquired by SSR Mining in April 2014 and has since produced more than 2 million ounces of the yellow metal. In 2023, the mine achieved an annual gold production record of 278,000 ounces.

      “In 2024, we targeted approximately AU$10 million in growth expenditures at Marigold as we continue to invest meaningfully in mine life extension opportunities at the mine, including at the Buffalo Valley project,” Antal continued.

      Gold doré bars produced at Marigold are shipped by SSR Mining to a third-party refinery.

      The mine’s mineral reserves still stood at nearly 3 million ounces as of December 2023.

      Located in Nevada, US, Marigold is “a large run-of-mine heap leach operation with several open pits, waste rock stockpiles, leach pads, a carbon absorption facility, and a carbon processing and gold refining facility.”

      According to SSR Mining’s website, its current life is nine years with potential for extension. “We look forward to many more years of safe, responsible and successful operations at Marigold going forward,’ Antal added.

      On December 6, SSR Mining announced the acquisition of the Cripple Creek & Victor gold mine in Colorado, aiming to diversify its portfolio and create the third largest US gold producer.

      Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

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      ISIS no longer rules a territory. But its recruits still pose a global threat

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      It’s many years since ISIS, also known as Islamic State, held sway over much of Syria and northern Iraq a time when it spawned affiliates throughout Africa and Asia and organized a series of deadly terror attacks in European cities.

      But as a terror group it remains active in more than a dozen countries – and has inspired and supported individuals and cells in Europe and Russia in recent years.

      ISIS is far from moribund, even if it is now a loosely linked network rather than a self-declared caliphate controlling sizeable cities.

      The most high-profile attack claimed by ISIS in 2024 was the devastating assault on a Moscow shopping mall in March, which left at least 150 dead and more than 500 injured.

      It thrust ISIS back into the spotlight, as have events in Syria. US officials are concerned that instability following the collapse of the Assad regime may allow ISIS to expand from its remote desert strongholds, nearly six years after the “caliphate” fell, and also regain a foothold in Iraq.

      There is also the perennial concern among Western security services that individuals inspired by ISIS will launch low-tech attacks – such as stabbings, shootings and driving vehicles into crowds. Such plans are notoriously difficult to detect.

      Vehicle attacks in the name of ISIS in the last few years – including in Nice, Barcelona, Berlin and New York – have killed more than 100 people.

      After Wednesday’s attack in New Orleans, FBI assistant special agent in charge, Alethea Duncan, said an ISIS flag was located on the trailer hitch of the suspect’s vehicle. FBI investigators are now searching for anyone who may have worked with the suspect – Shamsud-Din Jabbar, a 42-year-old Texas man and Army veteran – to plan or execute the assault, Duncan said.

      “We do not believe that Jabbar was solely responsible,” she told a news conference Wednesday. “We are aggressively running down every lead, including those of his known associates.”

      US President Joe Biden said late Wednesday that he had been told by the FBI that the driver had posted videos on social media “mere hours” before the attack “indicating that he was inspired” by ISIS. The suspect was killed in a firefight with police officers.

      The ‘lone wolf’ threat

      ISIS and al Qaeda have repeatedly called on sympathizers to carry out “do-it-yourself” attacks. The Boston marathon bombers in 2013 used a “recipe” from an online al Qaeda publication to build their devices.

      Events in the Middle East have pushed already radicalized individuals to violence, according to Rita Katz, executive director of SITE Intelligence, a non-governmental organization that monitors terror groups,.

      She notes that since Israel’s assault on Gaza began in October 2023, there has been a resurgence of “lone wolf” plots in the name of ISIS: a mass stabbing at a festival in Solingen, Germany; an alleged plot against Taylor Swift concerts in Vienna; and the stabbing of an Orthodox Jewish man in Zurich. In that instance, a 15-year-old boy, a Swiss national of Tunisian descent, declared his allegiance to ISIS in a video, saying he was “responding to the call of the Islamic State to its soldiers to target the Jews and Christians and their criminal allies.”

      ISIS sought to exploit the situation in Gaza within days of the October 7 attacks by Hamas.

      In January last year, ISIS spokesman Abu Hudhayfah al-Ansari called on Muslims to “hunt your prey — the Jews, Christians, and their allies — in the streets and alleyways of America, Europe, and the world,” in a speech cited by SITE Intelligence.

      And as in years before, ISIS urged followers to “direct your actions at the easy targets before the difficult, the civilian targets before the military, and the religious targets such as synagogues and churches before anything else.”

      Ten years ago, the then-head of Australian intelligence, David Irvine, said that his “recurring nightmare… has been the so-called lone wolf, often radicalized over the internet and who has managed to avoid coming across our radar.”

      In that respect, little has changed.

      Global image

      Katz said at the time of the Moscow attack in March that “ISIS’ global support rests in no small part on its image as a capable organization, and this devastating massacre in Russia will only feed into that image.”

      Investigators are still probing how the suspect in New Orleans became radicalized but there is still plenty of pro-ISIS content to be found online.

      The Islamic State’s most potent branch – IS Khorasan (ISIS-K) – has global ambitions and a sophisticated online presence in multiple languages, including English.

      The fact that Tajik nationals were charged after the Moscow attack indicated ISIS-K was responsible. US officials also said there was evidence ISIS-K carried out the attack.

      Based in Afghanistan, ISIS-K has grown in strength since the US withdrawal from the country in 2021 and also tapped into radicalized populations in central Asia. The commander of US Central Command, Gen. Erik Kurilla, assessed early in 2024 that ISIS-K “retains the capability and the will to attack US and Western interests abroad in as little as six months with little to no warning.”

      ISIS-K’s most infamous attack was the suicide bombing at Kabul airport in 2021 that killed nearly 200 people, including 13 US soldiers guarding the airport. But it has since expanded its orbit.

      Amira Jadoon, who has written a book about the group, said that over the last three years ISIS-K “has grown more ambitious and aggressive in its efforts to gain notoriety and relevance across South and Central Asia.”

      ISIS-K has also attempted to target western Europe and the United States, as well as Russia. In July 2023, seven men were arrested in Germany suspected of planning high-profile attacks and being in contact with ISIS-K planners. All the suspects were from central Asia.

      In March last year, two Afghan citizens were detained in Germany, accused of plotting to attack Sweden’s parliament in retaliation for a spate of Koran burnings in the country.

      Fitton-Brown said ISIS also benefited from “ambient rage” among radicalized individuals at the scale of deaths in Gaza, and the release of some former jihadis from European jails after serving their sentences.

      Syrian vacuum

      The US is concerned that should a security vacuum emerge in Syria, ISIS will regroup and expand there. On the day Bashar al-Assad fled the country, US Central Command hit more than 75 ISIS targets in Syria. Kurilla said there “should be no doubt – we will not allow ISIS to reconstitute and take advantage of the current situation in Syria.”

      Analysts with the non-profit Soufan Center calculated that ISIS attacks in Syria tripled in 2024 compared to the previous year, hovering around 700. “They have also improved in sophistication, increased in lethality, and become more dispersed geographically,” they said.

      One risk is that as beleaguered Kurdish forces fend off Turkish-backed militia in northern Syria, they will no longer secure the compounds where thousands of ISIS operatives are held.

      Kurilla recently warned ISIS planned to “break out of detention the more than 8,000 ISIS operatives currently being held in facilities in Syria.”

      Were ISIS fighters able to escape and begin terror attacks in neighboring Turkey or even travel to western Europe, the image of the group among like-minded lone wolves would only be enhanced.

      This post appeared first on cnn.com

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