Josef Schachter of the Schachter Energy Report shares his updated outlook for oil and natural gas.
He sees a buy window potentially opening for stocks in June, and also believes oil prices are due to rise.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
It was a slow start to the week for gold, but it didn’t take long for the price to pick up.
The yellow metal began the period at the US$3,220 per ounce level, but was gaining steam by Tuesday (May 20), briefly breaking US$3,300. Gold continued higher the next day, and after pulling back briefly on Thursday (May 22) was able to finish the week strong, changing hands at the US$3,360 level.
Bond market turmoil is one factor that’s been influencing gold’s price movements.
A Wednesday (May 21) auction of 20-year bonds was poorly received, with yields surging past 5.1 percent to reach the highest level seen since November 2023. Yields for 10-year and 30-year bonds were also on the rise, with the latter nearing a two-decade high as stocks and the dollar took hits.
The upheaval in bonds came on the back of US President Donald Trump’s efforts to get the One Big Beautiful Bill through the House. Slowing the passage of the wide-ranging domestic policy package were concerns that Trump’s plan to cut taxes would significantly increase US debt.
‘Make no mistake, the bond market will have its own vote on the terms of the budget bill. It doesn’t seem this president or this Congress is actually going to meaningfully reduce the deficit’ — George Catrambone, DWS Americas
Last week’s downgrade of US debt from Moody’s (NYSE:MCO) also didn’t help bonds. The agency bumped its rating down from AAA, its highest ranking, to AA1, which is one step lower. It expects even larger deficits in the US in the coming decade as government revenue stays flat and entitlement spending rises.
The One Big Beautiful Bill ultimately passed on Thursday by a very slim margin, receiving 215 votes in favor and 214 against. It will now proceed to the Senate, where it may face further obstacles.
Contained in the bill are tax cut extensions for both individuals and corporations, as well as provisions for removing taxes on tips and overtime. Among other points, it also allows for tax deductions on American-made vehicles, and offers ‘Trump savings accounts’ for newborns. It cuts funding to initiatives like Medicaid and the Supplemental Nutrition Assistance Program, better known as SNAP.
Preliminary analysis from the Congressional Budget Office, which is a nonpartisan organization, suggests that the bill will increase the federal deficit by US$3.8 trillion during the 2026 to 2034 period.
The uranium sector got a boost on Friday (May 23) after Trump signed several executive orders geared at overhauling the country’s Nuclear Regulatory Commission and speeding up nuclear reactor deployment.
‘It’s a hot industry. It’s a brilliant industry. You have to do it right,’ Trump told reporters about the nuclear energy sector. The executive orders also focus on power up US uranium mining and enrichment, and will allow nuclear reactors to be built on federal land.
The news sent uranium stocks powering higher, with sector major Cameco (TSX:CCO,NYSE:CCJ) closing the day up 10.04 percent at C$80.55. Denison Mines (TSX:DML,NYSEAMERICAN:DNN) and Uranium Energy (NYSEAMERICAN:UEC) saw even larger gains of 13.49 percent and 25 percent, respectively.
The Sprott Uranium Miners ETF (ARCA:URNM) finished up 12.14 percent.
A note from the European Central Bank (ECB) turned heads this week with the suggestion that certain dynamics could make the gold market a threat to financial stability. Here’s a key excerpt from the report:
While gold prices are driven by many factors, investors showed high demand for gold as a safe haven asset and, at the beginning of 2025, a notable preference for gold futures contracts to be settled physically. These dynamics hint at investors’ expectations that geopolitical risks and policy uncertainty could remain elevated or even intensify in the foreseeable future. Should extreme events materialise, there could be adverse effects on financial stability arising from gold markets.
The full ECB report is definitely worth a read if you have the time.
Gold’s high price hasn’t deterred buyers in China — new customs data from the country shows that April imports clocked in at 127.5 metric tons, an 11 month high.
That’s also a 73 percent increase from the previous month, according to Bloomberg. The news outlet notes that China’s central bank controls the flow of gold in and out of the country, so the strong increase is likely the result of fresh quotas given to some commercial banks.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
The apparent sound made when the Titan submersible imploded in June 2023 has been revealed in new footage released Thursday by the Marine Board of Investigation, the US Coast Guard’s highest level of inquiry.
Cameras on the sub’s mother ship captured the moment when Wendy Rush – whose husband Stockton founded OceanGate, the company which built the ill-fated vessel, and was one of five people who died in its implosion – heard a faint cracking sound similar to a car door slamming.
“What was that bang?” she says, turning to the people next to her.
At that point, the sub had reached a depth of about 3,300 meters and was about 90 minutes into its descent to the ocean floor to give passengers on board an up-close view of the Titanic.
That “bang” is thought to be the moment the sub imploded. However, moments later, the crew on the support ship received a message from the sub saying it had dropped two weights – which may have created the false impression it was still operating normally.
Every system which transmits data through the water has “some inherent buffering or delay related to how they do the signal timing or processing,” he explained.
“If the ‘weights dropped’ message was sent a few seconds before the implosion … the computer may not show the message immediately when it is received. The timing is tight, but possible. It really depends on the system they were using.”
Six seconds after that message, the mother ship lost contact with the sub, according to the timeline established by authorities investigating the doomed expedition.
When the sub failed to resurface, a dramatic international search and rescue mission unfolded in the remote waters several hundred miles southeast of Newfoundland.
Authorities found the Titan’s wreckage on the floor of the North Atlantic Ocean days later, several hundred yards from the Titanic’s remains.
Rush, businessman Shahzada Dawood and his 19-year-old son, Suleman; businessman Hamish Harding; and French diver Paul-Henri Nargeolet were all killed.
Since the implosion, the sub’s fate has been held up by some as an example of the dangers of hubris and greed.
Testimony given during the hearings into the disaster painted a damning portrait of OceanGate and Rush, who charged passengers about $250,000 per dive despite several concerns being raised about the sub’s durability.
Two documentaries scheduled for release in the coming weeks – one produced by the BBC and the other by Netflix – will further investigate the causes behind the disaster.
A federal judge temporarily halted the Trump administration’s ban on Friday, after the nation’s oldest and wealthiest college filed a suit in federal court. Harvard argued revocation of its certification in the Student and Exchange Visitor Program was “clear retaliation” for its refusal of the government’s ideologically rooted policy demands.
“They’re literally like, teenagers, thousands of miles away from their hometowns having to deal with this situation, which lawyers often fear to engage in,” said Sial, who is currently traveling overseas after exams and is uncertain if he’ll be able to return to campus.
About 27% of Harvard’s student body is international, with 6,793 international undergraduates and grad students hailing from nearly every country in the world.
Sial said the university and deans have been helpful in supporting international students at a time of uncertainty and “pure panic,” which is happening days after final exams ended and just one week before graduation.
As student body president, he says he is working to encourage the university to assist international students who want to transfer to other colleges and pushing for students’ financial aid packages to transfer, as well. But the window to transfer to other universities for the fall semester is already closed at most colleges, Sial said.
“Many of us have worked our entire lives to get to a university like Harvard, and now we need to wait around and see if we might have to transfer out and face difficulties with visas,” says rising junior Karl Molden, from Austria.
Molden, who is also traveling abroad and concerned he won’t be allowed to return to campus, said he feels international students are being used as a “ball in this larger fight between democracy and authoritarianism.”
Harvard and Trump officials have been locked in conflict for months as the administration demands the university make changes to campus programming, policies, hiring and admissions to root out what the White House has called antisemitism and “racist” practices.
Like many other colleges and universities, Harvard drew intense criticism last year for its handling of pro-Palestinian protests and encampments following the start of the Israel-Hamas war, as well as complaints from Jewish alumni and students about antisemitism on campus.
Harvard has acknowledged antisemitism on its campus, particularly during the previous academic year, and said it has begun taking concrete action to address it.
An Israeli postdoctoral student studying at Harvard said she feels like Jewish students are “being used as pawns” by the Trump administration, which has accused the university of perpetuating an unsafe campus environment that is “hostile to Jewish students” and “employs racist diversity, equity and inclusion practices.”
The Israeli student, who did not want to be named in fear of being denied reentry to the United States, said she believed the Trump administration was “using” the university to “have this battle with academia that is much bigger than Harvard.”
She said the government was clamping down on ideas that “don’t always align with the administration, rather than (having) an actual concern for the safety of Jewish students, Israeli students.”
“So, I do feel like we’re being used,” she said, adding that she thinks university leadership is taking the issue of antisemitism on campus seriously. “I don’t want to diminish anyone’s experience at the university. I know people have had tough experiences, but I do feel like I have, personally, 100% trust and faith in our leadership.”
“As a graduate student, we are just fully occupied with our research work, which I would say I spend 80 to 100 hours on each week,” said the Australian student, adding that the showdown between the Trump administration and Harvard will likely lead to researchers leaving the country. “If things really hit the fan, (I) would probably be trying to transfer to a school in the UK.”
Other graduate students said they are also feeling fear and uncertainty, with concerns for their research work, their future careers and their loved ones.
“There’s the ramifications for their family, you know, spouses, their children, their enrollment, their work status, their rent, housing, everything,” said Fangzhou Jiang, 30, from China. He is a Harvard Kennedy School student going into his second year of a master’s program. “You just don’t know what’s going to happen.”
For some international students, like those from countries at war or experiencing political turmoil, the stakes are even higher.
Maria Kuznetsova, a former spokesperson for OVD-Info, a Russian independent human rights monitoring group, is currently a graduate student at the Harvard Kennedy School of Government. She’s graduating in a week and had planned to work on a Harvard-sponsored visa that had already been granted, but she fears it may be canceled now.
“From what I see, people are still in a state of panic – everyone’s waiting for the court’s decision,” Kuznetsova said.
“It’s not just me from Russia here – there are also many Ukrainians, a lot of political students from Venezuela, and people from Afghanistan and Palestine. I even have a classmate from North Korea. These are people who, quite literally, cannot return to their home countries,” she added.
Ivan Bogantsev, also from Russia, was planning to stay in the US after completing his program at the Harvard Graduate School of Education. His wife, currently in Russia and also on a Harvard-sponsored visa, is due to arrive for his graduation, but he’s unsure whether she’ll be allowed entry.
But he said going back to Russia is not an option he is considering.
“I was detained at rallies (in Russia), and let’s just say the atmosphere was growing increasingly tense. And secondly, most of my friends are essentially labeled (in Russia) as criminals, traitors or foreign agents.”
“I was looking forward to celebrating commencement next week, but now, you know, I might leave this place and it will not look the same next semester, because without these international students and its international researchers, the Harvard campus will not be the same,” Gerdén said.
“We are being used essentially as poker chips in a battle between the White House and Harvard, and it feels honestly very dehumanizing.”
A popular Mexican singer, Julión Álvarez, says he and his band have had to cancel a show in Texas on Saturday night after the singer’s visa to enter the United States had been allegedly revoked.
The band, called Julión Álvarez y Su Norteño Banda, was due to play at AT&T Stadium in Arlington, around 30 miles west of Dallas, for a sold-out concert with nearly 50,000 tickets sold, the artist’s team said in a statement Friday.
The artist, show promoter CMN and management company Copar Music said that the show had been cancelled “due to unforeseen circumstances,” and that Álvarez was “unable to enter the United States in time for the event.”
Álvarez also announced the news on his Instagram account, saying in a video that he and his team were notified that his work visa had been revoked by US authorities earlier Friday.
“It is not possible for us to go to the United States and fulfill our show promise with all of you. It’s a situation that is out of our hands. That’s the information I have and what I can share,” he said in the video.
Álvarez said the stage had already been built and that his production team was already in Texas preparing for the show.
“I apologize to all of you, and if God permits, we will be in touch to provide more information,” he said.
The show’s promoter and Copar Music said they were working with Álvarez’s team to reschedule the performance. All previously purchased tickets will be honored for the new date and refund details will be provided for those who cannot attend, it said.
Álvarez and his band are the latest Mexican artists to allegedly have their US visas revoked amid Trump’s sweeping immigration crackdown.
Last month, the State Department revoked the tourist visas of members of the Mexican band Los Alegres del Barranco, after they projected the face of a drug cartel boss onto a screen during a performance in the western state of Jalisco.
The Trump administration has also cracked down on foreign nationals allegedly linked directly or indirectly to drug cartels. This includes revoking the visas of artists whose work depicts drug cartels that the administration has deemed foreign terrorist organizations.
In 2017, Álvarez had his US work visa revoked after the US alleged he and around 20 other people – including soccer player Rafael Márquez – had ties to a drug trafficker linked to major cartels and were put under sanctions, according to a US Treasury statement.
Álvarez denied those allegations and said he was only connected to the trafficker over a real estate purchase.
Álvarez was removed from the sanctions list in 2022 and was able to regain his visa, making a return to the United States earlier this year with three sold-out shows at SoFi Stadium in Los Angeles in April.
With nearly 17 million monthly listeners on Spotify, Álvarez is renowned in Mexico for his traditional music style with elements of banda, norteña, and mariachi. Some of his top hits include heartbreak hits like “Póngamonos de Acuerdo” and “Te Hubieras Ido Antes.”
Ukraine’s capital Kyiv came under a large-scale Russian drone and missile attack overnight into Saturday, just hours after Russia and Ukraine began a major prisoner exchange.
At least eight people were injured in the attacks, which triggered fires and left debris strewn in districts throughout the city, the city’s mayor Vitali Klitschko said in a post on Telegram.
Klitschko said two residents had required hospital treatment and that air defense units were in action, Reuters reported, adding that fragments from one drone struck the top floor of an apartment building.
Explosions and loud sirens could be heard blaring across the capital in video shared by Reuters news agency. Several fires could be seen against the nighttime skyline.
Timur Tkachenko, head of Kyiv’s military administration, said a fire had broken out on two floors of an apartment building in Dniprovskyi district, according to Reuters.
Officials also reported a fire in Obolon in the city’s northern suburbs and fallen debris on a shopping center in the same area, Reuters reported. They also said drone fragments hit the ground in a number of other widely separated neighborhoods.
The nighttime attack came after Russia and Ukraine completed the first phase of what is expected to be the biggest prisoner exchange since the start of the war.
The swap started on Friday and will continue on Saturday and Sunday, with Kyiv and Moscow expected to swap 2,000 people – 1,000 from each side.
The agreement to release 1,000 prisoners on each side was the only significant outcome of the meeting between Kyiv and Moscow in Istanbul last week, which marked the first time the two sides have met directly since soon after Russia’s full-scale unprovoked invasion of Ukraine in February 2022.
The Istanbul meeting was initially proposed by Russian President Vladimir Putin in response to a ceasefire-or-sanctions ultimatum given to Moscow by Kyiv’s European allies – which many saw as a clear attempt by the Kremlin leader to distract and delay.
Ukraine and its allies demanded that Russia agree to an immediate and unconditional ceasefire in Istanbul, but that did not happen.
Neither Ukrainian President Volodymyr Zelensky nor Russian President Vladimir Putin attended the talks in Istanbul.
This is a developing story and will be updated.
The Trump administration issued orders Friday to begin easing sanctions on Syria, marking a major policy shift after US President Donald Trump pledged earlier this month to roll back the measures during a trip to the Middle East.
Trump administration officials had been carrying out quiet engagements for months to pave the way for sanctions relief to help the nation recover from years of a devastating war and rebuild after the toppling of ousted leader Bashar al-Assad.
On Friday, the US Treasury Department said Syria has been issued a general license that authorizes transactions involving the interim Syrian government, as well as the central bank and state-owned enterprises.
The GL25 license “authorizes transactions prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria,” and “will enable new investment and private sector activity consistent with the President’s America First strategy,” it said in a press release.
The US State Department concurrently issued a 180-day waiver under the Caesar Act to ensure sanctions do not impede investment, and advance Syria’s recovery and reconstruction efforts, Secretary of State Marco Rubio said in a statement.
Rubio said the waivers will facilitate the provision of electricity, energy, water, and sanitation, and enable a more effective humanitarian response across Syria.
“Today’s actions represent the first step in delivering on the President’s vision of a new relationship between Syria and the United States,” Rubio said.
While in Saudi Arabia last week, where he met with Syria’s interim President Ahmed al-Sharaa, Trump announced that sanctions on Syria would be swiftly removed, taking some officials by surprise and triggering a scramble across the US government to implement the decision,
Rubio said shortly after that the US would issue waivers to Syria sanctions, which are currently required by law. Meanwhile, the administration is engaged in a complicated technical review of the sanctions, which is expected to take weeks, officials said at the time.
“If we make enough progress, we’d like to see the law repealed, because you’re going to struggle to find people to invest in a country when any in six months, sanctions could come back. We’re not there yet. That’s premature,” Rubio said.
Speaking in Saudi Arabia, Trump said he made the decision to lift sanctions after speaking with Saudi Crown Prince Mohammed bin Salman and Turkish President Recep Tayyip Erdogan.
Saudi officials had coordinated behind the scenes on the topic for months, making the case that removing sanctions would boost the Syrian economy and help to stabilize the entire region.
The Turkish government also had contacts with the US about Syria and knew about the work being done to see if the lifting of sanctions was possible, a source familiar with the matter said. The Turkish government expressed support for those efforts.
But not all US allies in the region were in favor of where Trump was headed: Israel had opposed the move and Trump ignored their objections.
Trump acknowledged last week that he “didn’t ask” Israel about the Syria sanctions relief.
“I thought it was the right thing to do,” he said as he wrapped up his tour of the Middle East.
In this video, Joe shares how to use MACD and ADX indicators to analyze stock pullbacks, focusing on the good while avoiding the weak setups. He explains how these indicators can complement one another. Joe then shows the Summary Page in ACP and how he uses it on a regular basis to look at different markets, including the SPX, COMP, S&P 600, 10-Year Rates, Copper, Gas, and a few Country Funds. Finally, he goes through the symbol requests that came through this week, including CRSP, VC, and more.
The video premiered on May 21, 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.
On Wednesday, only 4% of the S&P 500’s holdings logged gains — a pretty rare occurrence. Since the start of 2024, this has only happened three other times:
Let’s recall that major trading lows were etched last August, and again just a few weeks ago in early April. The S&P 500 ($SPX) dropped 10% and 21%, respectively, from its peak to trough both times, with the lows being marked by emphatic capitulation events (April 7 was the real pivot low). The market’s rubber band violently snapped back in the ensuing weeks, both times.
FIGURE 1. PAST LOWS IN THE S&P 500 INDEX. Note the rebounds following the August 5, December 18, and April 4 drops.With the SPX now having gained 20% from the April low, the setup is more like mid-December 2024. The index had just gained 19% from early August through early December and was hovering near 6,100. The FOMC’s actions put a major dent in the calm uptrend.
The S&P 500 didn’t completely crumble after that, spending the next 10 weeks backing and filling. But the market’s character changed, and the cracks eventually gave way to the waterfall decline.
So, what does that tell us about this moment? There’s a clear risk given the one-sided advance the last few weeks, but, with bullish patterns still in play and the $SPX having built up a big cushion, it can afford to back and fill again now. It’s the first gut punch in four weeks, and the market must prove it can absorb it.
The drawdown measured from this Monday’s high now stands at -2.4% — most of which happened on Wednesday. Given how small the moves have been over the last few weeks, Wednesday’s big decline hit the 14-period relative strength index (RSI) on the two-hour chart very hard. It’s now at 41, which is very close to the 30-oversold threshold.
Again, we’ve seen the short-term indicator fall to oversold territory several times, even during the market’s upswing from August through December. Seeing that happen again this time wouldn’t be a surprise. If it happens, it will be important to see the ensuing bounce pull the SPX back to overbought territory relatively soon. Remember, we went nearly four months between overbought readings from late January through mid-May.
FIGURE 2. TWO-HOUR CHART OF THE S&P 500 WITH RSI.
Despite the sell-off, there was no change in the patterns at work. The two bullish patterns remain in play, with targets of 6,125 and 6,555, respectively. The S&P 500 started Thursday, at about 2.5% above the last breakout zone (5,695).
FIGURE 3. DAILY CHART OF THE S&P 500 WITH BULLISH PATTERNS. Here you see the pattern with a 6,125 target.
FIGURE 4. DAILY CHART OF S&P 500 WITH 6,555 PRICE TARGET.
Not surprisingly, the Cboe Volatility Index ($VIX) gained 15% on Wednesday in response to the market’s sell-off. It remains close to 20, but continues to log higher lows, which has been the trend since late 2024. Indeed, it’s way off spike highs from April, but it’s a trend worth watching.
Let’s recall that the VIX never truly capitulated in 2022, but its trend of higher lows coincided with the equity market’s downtrend. When the SPX logged a true low in October 2022, lower lows in the VIX became evident. This lasted through this past summer.
If the snapback in the SPX turns into a longer, new uptrend, the VIX’s uptrend will morph into a downtrend again.
FIGURE 5. WEEKLY CHART OF THE CBOE VOLATILITY INDEX ($VIX).
The bullish pattern in the weekly 30-Year Treasury yields and 10-Year Treasury yields is crystal clear. An acceleration through the 2023 highs after Wednesday would have an obvious negative effect on stocks.
As discussed before, the equity market has shown it can advance with higher rates, as long as said rates go higher gradually. The intermittent up-moves in rates have been capped for the last two years as well. Thus, stocks have been able to withstand it. That wasn’t the case from January to September 2022, and that’s the potential concern.
FIGURE 6. WEEKLY CHART OF THE 30-YEAR US TRASURY YIELD INDEX.
FIGURE 7. WEEKLY CHART OF THE 10-YEAR US TREASURY YIELD INDEX.
So far, Bitcoin has maintained noticeable relative strength even as stocks got hit hard on Wednesday. Simply put, continuing to hold above this breakout zone would keep the new measured move target of 142k in play.
FIGURE 8. WEEKLY CHART OF $BTCUSD WITH ITS MEASURED MOVE TARGET.
From another perspective, this move can also be viewed as the fourth wedge breakout since 2023. The prior three times, BTC’s 14-week RSI stayed very overbought for weeks before slowing down. The 14-week RSI is just approaching overbought levels, which suggests it has further to go.
FIGURE 9. WEEKLY CHART OF $BTCUSD WITH WEDGE BREAKOUTS AND RSI.
(TheNewswire)
Vancouver, British Columbia TheNewswire – May 22, 2025 Element79 Gold Corp. (the ‘Company’ or ‘Element79’) (CSE: ELEM, OTC: ELMGF, FSE: 7YS0) wishes to comment on recent developments affecting the mining sector in Peru, where the Company’s flagship Lucero Project is located.
Highlights:
The Peruvian government has enacted Supreme Decree No. 009-2025-EM , transferring oversight of small-scale and artisanal mining from regional governments to the Ministry of Energy and Mines (MINEM) .
The deadline for the mandated Formalization of REINFO (Comprehensive Mining Formalization Registry) permit holders with mineral right holders has been extended until December 31, 2025 , giving operators more time to formalize.
MINEM’s Directorate General of Mining Formalization will now handle all administrative, monitoring, and enforcement processes related to mining formalization.
Reform is grounded in Law No. 32213 , published in December 2024.
A new national traceability platform (SIPMMA) is being launched to improve transparency and monitoring of registered small-scale mining operations.
The reform has raised concerns among regional governments over loss of local oversight and potential impacts on decentralized governance.
The Lucero Project remains a core focus , with continued efforts to formalize local artisanal miners and advance exploration toward production.
The Company reaffirms its commitment to social investment and long-term community relationships in Chachas and surrounding areas.
In May 2025, the Government of Peru enacted Supreme Decree No. 009-2025-EM, which extends the validity of the Comprehensive Mining Formalization Registry (REINFO) until December 31, 2025, and shifts responsibility for supervising small-scale and artisanal mining from regional governments to the Ministry of Energy and Mines (MINEM).
Under this reform, the Directorate General of Mining Formalization within MINEM will assume exclusive responsibility for the administrative processing, monitoring, and enforcement of formalization-related matters. The changes are grounded in Law No. 32213, published in December 2024, and are designed to enable a more centralized, technical, and transparent regulatory process.
This centralization will be further supported by the implementation of a new national traceability platform, the Sistema Interoperable de la Pequeña Minería y Minería Artesanal (SIPMMA), which aims to improve oversight and data integration across registered mining activities.
While the reform has raised concerns among regional governments regarding reduced local oversight and the implications for decentralized governance, Element79 believes the changes may ultimately contribute to improved regulatory clarity and operational efficiencies across the sector.
‘We are closely monitoring this policy shift and its implementation,’ commented James Tworek, CEO and Director of Element79 Gold Corp. ‘Given Lucero’s location and strategic focus within the artisanal and small-scale mining segment, we view enhanced regulatory structure and centralized oversight as potentially beneficial, provided that community engagement and regional collaboration remain part of the process.’
The Company further notes that the extension of the REINFO deadline through December 2025 allows additional time for regional operators and stakeholders to advance their formalization efforts, which may support ongoing engagement strategies with artisanal miners operating within and around the Lucero Project.
Element79 Gold Corp believes in the long-term potential of the Lucero Project, continues to maintain the project’s mineral leases, and is proud of the community-based investments, social development efforts, and relationships it has built since acquiring Lucero at the end of June 2022. The Company will continue its efforts in forging contracts with the local community for both the formalization of local artisanal miners as well as the Company’s own exploration and development of Lucero into a producing mine.
Corporate Strategy Refocus
In addition to ongoing efforts and campaigns to work in Chachas, the Company’s management and board identifies that following notable successes in developing and monetizing assets in Nevada, it will be carrying out a renewed strategic focus in the region. This strategic shift will include dealing and development of its current portfolio of Nevada projects, growth of the management team with regionally-specific exploration experience, as well as is reviewing additional M&A opportunities in the region.
For more information about the Company and its projects, please visit: www.element79.gold
ON BEHALF OF THE BOARD OF DIRECTORS
James C. Tworek
Chief Executive Officer, Director
Element79 Gold Corp.
E: jt@element79.gold
Investor Relations Contact:
E: investors@element79.gold
T: +1.403.850.8050
About Element79 Gold Corp.
Element79 Gold Corp. is a mining company focused on the exploration and development of high-grade gold and silver projects in the Americas. The Company’s flagship asset, the Lucero Project, is a past-producing high-grade gold-silver mine located in Arequipa, Peru. The Company is actively advancing Lucero toward renewed production and tailings reprocessing while supporting formalization initiatives with local operators.
The Company also holds several exploration projects along Nevada’s Battle Mountain trend, a region renowned for prolific gold production, and these assets are under contract for sale in the first half of 2025. Additionally, Element79 has transferred its Dale Property in Ontario to its subsidiary, Synergy Metals Corp., as part of a Plan of Arrangement spin-out process.
Cautionary Note Regarding Forward-Looking Statements
This press contains ‘forward‐looking information’ and ‘forward-looking statements’ under applicable securities laws (collectively, ‘forward‐looking statements’). These statements relate to future events or the Company’s future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the timing and completion of the arrangement and the timing and completion of the amalgamation. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘forecast’, ‘potential’, ‘target’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’ and similar expressions) are not statements of historical fact and may be ‘forward‐looking statements’.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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