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Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya Gold’ or the ‘Company’) is pleased to announce that shareholders voted to approve all items of business put forth to shareholders at the Company’s Annual General and Special Meeting (‘AGSM’) held on March 28, 2025, including the election of directors, fixing the number of directors, appointment of the Company’s auditor, approval of the equity incentive plan, and the continuation of the Company under the British Columbia Business Corporations Act.

The board of directors and the Company would like to thank Mr. Bayona, who did not run for re-election, for his service to the Company and would like to wish him well in his future endeavors.

Additionally, at the AGSM, Sebastian Wahl was elected as new independent director of the Company. Sebastian Wahl brings over 15 years of experience in the mining industry, specializing in precious metals trading and corporate development. As a co-founder and former Vice President of Corporate Development at Silver X Mining Corp., he played a pivotal role in consolidating assets and advancing projects in South America. Mr. Wahl holds a B.Sc. in Business Administration from the Graduate School of Business Administration in Zurich and a Financial Modelling certification from the Corporate Finance Institute. Fluent in Spanish, he possesses extensive expertise in South American mining operations and capital markets.

Mr. Alexandre P. Boivin, President & CEO stated, ‘We are excited to bring Sebastian on as an independent board member. His strong experience in South America and European connections will complement the Company as we strive to become an established player in the Colombian mining exploration space.’

About Quimbaya

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.

Contact Information

Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com

Quimbaya Gold Inc.
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Cautionary Statements

Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246745

News Provided by Newsfile via QuoteMedia

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The US Bureau of Economic Analysis released February personal consumption expenditures (PCE) index data on Friday (March 28). The figures show inflation increased 2.5 percent on an annualized basis in February, aligning with analyst expectations and reflecting no change from the 2.5 percent recorded in January. On a monthly basis, inflation rose by 0.3 percent, also matching January’s increase.

However, core PCE, which excludes the volatile food and energy prices, increased 2.8 percent year-over-year and 0.4 percent month-over-month. Both came in above analyst expectations of 2.7 and 0.3 percent, respectively.

The PCE is the Federal Reserve’s preferred measure for tracking inflation and will be significant when it meets next in May. Combined with recent consumer price index figures, the data indicates progress has stalled in bringing inflation to the Federal Reserve’s 2 percent target rate.

To the north, Statistics Canada released January gross domestic product (GDP) numbers on Friday. The report shows that GDP grew by 0.4 percent in January, up from a 0.3 percent increase in December.

The largest gain was observed in goods-producing industries, which rose 1.1 percent, marking the highest increase since October 2021. As for Canada’s resources, the mining, quarrying and oil and gas extraction sector increased by 1.8 percent during the first month of the year. This increase was driven by a 2.6 percent rise in the oil and gas extraction subsector. However, metal ore mining declined by 1.2 percent.

The agency also provided a brief estimate of February’s GDP numbers, as well as a look at Canada and the US’s metal manufacturing trade. Tariff threats from the United States appear to have kept numbers flat, as preliminary real GDP data is “essentially unchanged in February.” Official data for February will be released on April 30.

Markets and commodities react

In Canada, markets were in the red this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) fell 1.2 percent during the week to close at 24,759.15 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) decreased 1.04 percent to 633.63 and the CSE Composite Index (CSE:CSECOMP) dropped 2.43 percent to 121.13.

US equity markets fell even further this week. The S&P 500 (INDEXSP:INX) lost 2.4 percent to close at 5,5680.95, the Nasdaq 100 (INDEXNASDAQ:NDX) dropped 3.79 percent to 19,281.40 and the Dow Jones Industrial Average (INDEXDJX:.DJI) shed 1.41 percent to 41,583.91.

The gold price climbed to fresh all time highs this week gaining 2.02 percent to US$3,084.48 per ounce at 5:00 p.m. EDT Friday. The silver price rose higher with a 3.29 percent increase during the period to US$34.10.

In base metals, the copper price set an all time high of US$5.32 per pound on Wednesday before finishing the week flat to close out Friday at US$5.13 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was up 0.41 percent to close at 560.50.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop? We break down this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 2:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Euro Sun Mining (TSX:ESM)

Company Profile

Weekly gain: 53.85 percent
Market cap: C$30.94 million
Share price: C$0.10

Euro Sun Mining is a copper and gold development company focused on advancing its Rovina Valley project in Romania.

The project’s mining license received full approval for 20 years in 2018, with the option to renew it in five-year increments.

An updated feasibility study from March 2022 demonstrated the project’s economics, showing a post-tax net present value of US$512 million and an internal rate of return of 20.5 percent, assuming a base case gold price of US$1,675 per ounce and a copper price of US$3.75 per pound.

Proven and probable mineral reserve estimates for the site show contained quantities of 197,522 metric tons of copper with an average grade of 0.16 percent, along with 1.84 million ounces of gold with an average grade of 0.47 grams per metric ton (g/t) from 123.3 million metric tons of ore.

Although Euro Sun did not release news this week, shares increased alongside a rising copper price.

2. Rackla Metals (TSXV:RAK)

Company Profile

Weekly gain: 50 percent
Market cap: C$22.58 million
Share price: C$0.225

Rackla Metals is a gold exploration company with a significant land package covering 59,000 hectares in the Eastern Yukon and Western Northwest Territories, Canada. The firm is specifically targeting properties within the Tombstone Gold Belt, which hosts a gold system that tends to produce deposits in clusters.

Among its key projects is the Astro plutonic complex in the Northwest Territories, which is in close proximity to significant discoveries at Snowline Gold’s (TSXV:SGD,OTCQB:SNWGF) Rogue plutonic complex and Fireweed Metals’ (TSXV:FWZ,OTCQX:FWEDF) Macmillan Pass project.

Besides Astro, Rackla has been exploring its Grad property, which it initially staked in August 2024. Work at the 4,000 hectare site has focused on anomalies identified in a government regional geochemical survey. In October 2024, the company reported that grab samples from the BiTe zone yielded grades of up to 92 g/t gold in its season-end exploration update.

The company’s latest release came on Tuesday (March 24), when it announced a non-brokered private placement to raise total gross proceeds of C$2.45 million. The company intends to use proceeds to advance work at its Tombstone gold belt properties.

3. Tidewater Renewables (TSX:LCFS)

Company Profile

Weekly gain: 49.55 percent
Market cap: C$112.45 million
Share price: C$3.35

Tidewater Resources is focused on the production of low-carbon fuels from facilities in British Columbia, Canada.

Its sole operation is a renewable diesel and hydrogen complex located near Prince George. The project has a nameplate capacity of 3,000 barrels per day of renewable diesel and 23.7 metric tons per day of hydrogen. The plant began production during Q4 2023 using feedstock that included soybean and canola oil.

The company is expanding the site to produce sustainable aviation fuel, which it plans to start producing in 2028.

On March 6, Tidewater announced that it had advised the Canadian Border Services Agency (CBSA) to initiate an anti-subsidy and anti-dumping duty investigation into imports of renewable diesel from the US. The release indicated that the CBSA confirmed that Tidewater had provided sufficient evidence to support the allegations.

Tidewater expects that additional duties of between C$0.50 and C$0.80 will be applied to renewable diesel imports originating from the US, which would provide increased market stability for Tidewater products.

The company released its financial results for 2024 on Thursday, March 27. In the announcement, the company stated that its renewable diesel and hydrogen complex achieved an average daily throughput of 2,677 barrels per day in the fourth quarter, marking a significant increase from the 1,700 barrels per day throughput in Q4 2023.

4. Titan Mining (TSX:TI)

Company Profile

Weekly gain: 48.28 percent
Market cap: C$57.27 million
Share price: C$0.43

Titan Mining is a critical mineral mining and development company focused on advancing and exploring its zinc and graphite assets in New York, US.

Its Empire State Mines (ESM) zinc operations include ESM 4, which restarted production in January 2018, along with six past-producing mines capable of supplying additional feedstock for its onsite mill.

On January 7, Titan released an updated life of mine plan for its ESM properties, which projected a 35 percent increase in production compared to its previous plan released in 2021. The new plan extends the mine’s operational life to nine years, up from seven, and anticipates the production of 636 million pounds of zinc, increased from 470 million pounds in the prior plan.

In addition to zinc, the company also owns the Kilbourne graphite deposit located 4,000 feet from the existing mill at its Empire Mines operation.

A December 2024 maiden mineral resource estimate demonstrated an open pit inferred resource of 653,000 short tons of contained graphite from 22.42 million short tons of ore with an average grade of 2.91 percent copper.

Titan’s most recent news came on March 20, when it released its full-year 2024 results. In the announcement, the company stated it had achieved the upper end of production guidance with 59.5 million pounds of payable zinc. It also reported C1 cash costs of US$0.91 per payable pound sold, which was below the guidance range of US$0.98 to US$1.02.

5. Supernova Metals (CSE:SUPR)

Company Profile

Weekly gain: 39.71 percent
Market cap: C$14.1 million
Share price: C$0.475

Supernova Metals is an exploration company with rare earth mineral claims in Newfoundland and Labrador, Canada, as well as petroleum interests in Namibia.

Its TT rare earth claims comprise two licenses spanning 825 hectares in central Labrador and are adjacent to Canada Rare Earth’s (TSXV:LL,OTC Pink:RAREF) Two Tom project. The company shared plans to begin exploration in February.

In addition to its TT Claims, the company announced on January 31 that it had successfully completed its acquisition of NamLith Resources. The purchase provides Supernova with an 8.75 percent indirect ownership interest in Block 2712A and petroleum exploration license 107 in Namibia’s offshore Orange Basin.

In a follow-up on February 6, Supernova reported that a NI51-101 technical report is being prepared for the block. The company has since added two senior strategic advisors with experience in the energy industry.

The company has not released any project updates in the past week.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

An American citizen has been detained in Belarus after being accused of attempting to sneak into the country on a cargo train by Belarusian authorities.

The 27-year-old unnamed American man was traveling in the empty carriage of a train from neighbouring Lithuania when he was found by custom officers at Maladzyechna train station, Belarus’ customs authority said in a statement on Monday.

The man, identified as a “border violator,” was promptly detained by customs officials before being handed over to the border service for further investigation, the statement said.

Earlier this year, the Trump administration secured the release of two US citizens who were being held prisoner in Belarus. One American, who was not named out of a request for his privacy, was among a group of three political prisoners freed in February, while Anastassia Nuhfer was released in January.

The state department has advised Americans not to travel to Belarus, citing the Belarusian authorities’ arbitrary enforcement of local laws and the risk of detention as key factors.

Belarusian President Alexander Lukashenko’s government has long been accused of a crackdown on dissidents and opposition detaining scores of them.

Europe’s longest-serving leader extended his 31-year rule in Belarus in January, with Lukashenko winning a presidential election that was widely denounced as a sham by his exiled opponents and Western countries.

Under the first Trump administration, the US had sought diplomatic rapprochement with Minsk. Those efforts were put aside after Lukashenka self-proclaimed electoral victory and massive crackdown on protesters and civil society in August 2020, which Trump administration officials condemned at the time.

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The Chinese military on Tuesday said it had begun conducting joint exercises involving its army, navy, air force, and rocket force to “close in on” Taiwan from “multiple directions,” according to a statement posted on the Eastern Theater Command’s official social media account.

The drills mainly focus on sea-air combat-readiness patrols, joint seizure of comprehensive superiority, assault on maritime and ground targets, and blockade on key areas and sea lanes so as to test joint operations capabilities of its troops, the post said.

“It is a stern warning and forceful deterrence against ‘Taiwan Independence’ separatist forces, and it is a legitimate and necessary action to safeguard China’s sovereignty and national unity,” the People’s Liberation Army said in the statement.

China claims the self-governing democracy of Taiwan as its own and has vowed to take control of the island, by force if necessary.

Its military in recent years has ramped up regular patrols as well as military exercises in the air and waters around the island.

This is a developing story and will be updated.

This post appeared first on cnn.com

Israel has launched a strike on Beirut for the second time in days, further testing the shaky ceasefire with Hezbollah struck four months ago.

Lebanon’s Health Ministry said three people were killed, including a woman, and seven injured in the strike early Tuesday, which Israel said had targeted a Hezbollah militant.

Two missiles hit the top three floors of a building in the southern suburbs of Beirut, Lebanon’s national news agency NNA reported. Witnesses told Reuters that no evacuation warning was issued ahead of the strike and that families who lived there have now fled to other parts of the city.

Israel’s military said in a statement the militant had allegedly “recently directed Hamas operatives and assisted them in planning a significant and imminent terror attack against Israeli civilians.”

Lebanon’s President Joseph Aoun condemned the attack. “Israel’s persistence in its aggression requires us to exert more effort to address Lebanon’s friends around the world and rally them in support of our right to full sovereignty over our land,” he said.

The US State Department said on Tuesday that Israel was defending itself from rocket attacks that came from Lebanon and that Washington blamed “terrorists” for the resumption of hostilities, Reuters reported.

“Hostilities have resumed because terrorists launched rockets into Israel from Lebanon,” a State Department spokesperson said in an email to Reuters, adding Washington supported Israel’s response.

The attack comes just days after Israel launched its first strike on the Lebanese capital since a ceasefire with Hezbollah came into effect in November. Israel accused Hezbollah of launching two rocket attacks from southern Lebanon that crossed Israel’s border, a claim the Iran-backed group denied.

“We will not allow firing on our communities, not even a drizzle … We will attack everywhere in Lebanon against any threat to the state of Israel, and we will ensure that all our residents in the north return to their homes safely,” said Prime Minister Benjamin Netanyahu on Friday.

The Lebanese army called Friday’s strike on the southern Dahieh neighborhood “a blatant and repeated violation of Lebanon’s sovereignty and the security of its citizens, a challenge to international law, and a flagrant breach of the ceasefire agreement.”

The US-brokered ceasefire agreement brought about a significant reduction in violence following more than a year of cross-border strikes and months of a full-scale war.

However, Israel has continued to conducted dozens of strikes – mostly in southern Lebanon – on what it calls Hezbollah targets, and maintains a military presence at multiple locations in southern Lebanon, despite having agreed to withdraw as part of the deal.

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A colossal fire erupted Tuesday in a Malaysian suburb outside Kuala Lumpur due to a burst gas pipeline, prompting evacuations of nearby homes.

The towering inferno near a gas station in Putra Heights in central Selangor state was visible for miles. National oil company Petronas said in a statement that the fire broke out at one of its gas pipeline at 8:10 a.m.

It said in a brief statement that the affected pipeline has been isolated. Three gas stations nearby the fire site were not affected but have been temporarily closed as a precautionary measure, Petronas said, adding that investigations are still underway.

The Selangor Disaster Management unit said in a statment that the blaze spread to several houses in a nearby village, and efforts were efforts being made to rescue trapped residents. It added that several people suffered burns and will be taken for treatment, but the extent of the full damage is being assessed, and said that the valve to the pipeline has been shut, and that will eventually snuff out the fire.

The Star English newspaper said that fire and rescue teams had rescued seven victims, including two elderly individuals. No casualties have been reported so far.

Dozens of Selangor firefighters have been dispatched to the scene. Selangor Chief Minister Amirudin Shari said the fire department has quickly evacuated residents from nearby homes as a safety measure. He said they will be temporarily placed in a mosque nearby until the situation is under control.

Pictures and videos of the fireball went viral on social media, with some residents saying they felt the doors and windows of their homes shaking believed to be due to the fire explosion earlier.

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Embattled South Korean superstar Kim Soo Hyun has personally addressed a growing scandal about the nature of his relationship with late actress Kim Sae-ron for the first time, in a closely watched saga that has roiled the country’s entertainment industry.

Speaking at a press conference Monday, a tearful Kim Soo Hyun, 37, said accusations made by a YouTube channel in March that he had entered into a relationship with his fellow performer when she was still a minor were untrue. He has repeatedly denied the allegations.

“I did not date her when she was a minor,” Kim said at the emotional news conference, where he declined to take questions. “Apart from the fact that we were both actors, we were just an ordinary couple like anyone else. We had feelings for each other, and as time passed, we eventually parted ways. After that, we rarely kept in touch.”

Kim Sae-ron was found dead at home in February at 24 years old, nearly two years after she retreated from public view following a drunk-driving conviction that prompted heavy public backlash and reputational damage.

The allegations made by the YouTube channel, known for covering political news, started an online firestorm against Kim Soo Hyun despite his denials. His talent agency previously said that while the two actors had been in a relationship, it took place when both were adults, according to the Chosun Ilbo, one of South Korea’s newspapers of record.

The fallout for the actor has been swift, with luxury fashion house Prada and popular Korean cosmetics brand Dinto both ending their collaborations with Kim Soo Hyun in the weeks after the scandal broke. A star at home and across Asia, Kim Soo Hyun is best known for the award-winning series “It’s Okay to Not be Okay” and “My Love from the Star.”

On Monday, he also apologized for staying quiet for the first few days after the allegations emerged last month, saying he was worried about the consequences for his recently aired Netflix series “Queen of Tears.”

“If you want to criticize me for being cowardly or selfish, I will accept that,” he said.

Kim Sae-ron was a prolific actor who shot to stardom as a child, but her career stalled after she crashed her car in the South Korean capital in 2022. In April 2023, a Seoul court found her guilty of driving under the influence. She avoided jail but was fined about $14,000.

Kim Soo Hyun also claimed that many text messages that had been distributed online, purportedly between him and Kim Sae-ron, were false.

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