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Forum Energy Metals and Global Uranium Announce the Commencement of Drilling and Ground Geophysical Surveys on the Northwest Athabasca Project, Saskatchewan

Investing 5 Mins Read

Diamond drilling has commenced at the Zone 2A area, and SJ Geophysics has initiated ground EM and Resistivity surveys on the Spring Bay area on the Northwest Athabasca Project in Saskatchewan’s Athabasca Basin

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (the ‘Company’ or ‘Forum’) and Global Uranium Corp. (CSE: GURN) (OTCQB: GURFF) (FSE: Q3J) (‘Global’) are pleased to announce that it has commenced its diamond drilling program, as well as ground geophysical surveys on the Northwest Athabasca (NWA) Project, located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figure 1). Drilling will be focusing on the Zone 2A and Andy grid areas and SJ Geophysics will be conducting ground Time Domain Electromagnetic (TDEM) and Direct Current Induced Polarization (DCIP) surveys over the Spring Bay grid (Figure 2).

Global has an option to earn 51% interest in Forum’s interest in the NWA Project by spending up to $9M over four years (see News Release dated May 30, 2024). Camp construction began in middle February and is now completed. Ongoing work with the local communities and First Nations will continue to be an important focus of the project as we move forward. Forum Energy Metals is the Operator of the Northwest Athabasca Project.

‘The integration of historical geophysical datasets and legacy drill results gives us an advantage in identifying areas of high potential,’ stated Ungad Chadda, CEO of Global Uranium. ‘We are pleased that the Forum exploration team’s knowledge and experience in Saskatchewan unconformity-style uranium deposits will shape the refined targeting strategy at the NWA Project, positioning us to unlock the site’s full value potential.’

Rick Mazur, CEO of Forum Energy Metals stated, ‘I am particularly proud of the Forum logistics team, the Athabasca Denesuline contractors and all contractors that have worked tirelessly for the last month to get a camp built and drill and supplies to site, since the ice road was constructed to Uranium City. Forum’s geological team can now test the exceptional potential of the project.’

Camp Construction, Ground Geophysics and Diamond Drilling

Camp construction is completed and is ready to support the upcoming exploration program. Supplies were brought into site largely by fixed wing aircraft using skis. A temporary ice road from Uranium City has been completed and additional fuel as well as the diamond drill and supplies were hauled to site. The drill program began on March 19 with Team Drilling as Forum’s drill contractor. The objective of the diamond drilling program is to test the Andy and Zone 2A trends and if time and weather allows testing additional high-priority targets at Gomer and Spring Bay (Figure 2). SJ Geophysics began the ground geophysical program at the Spring Bay Grid on March 2 and the survey is projected to take approximately 3-4 weeks.

The Northwest Athabasca Project

The Northwest Athabasca Project is located along the northwest shore of Lake Athabasca on the margin of the Athabasca Basin 1,000 km north-northwest of Saskatoon. The western margin of the property is situated along the Alberta – Saskatchewan provincial border and the closest community is Uranium City, which is 75 km west of the project. The project consists of 11 contiguous mineral claims covering 13,876 ha.

Qualified Person

Rebecca Hunter, Ph.D., P.Geo., Forum’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

Quality Assurance and Quality Control

For a discussion of the QA/QC and data verification processes and procedures at the NWA Project, please see its technical report entitled ‘NI 43-101 on the Northwest Athabasca Project Northern Saskatchewan Centered at: Latitude 59°24’00’ N, Longitude 109°54’00’ W’, with an effective date of June 27, 2024, which is available under the Global Uranium’s profile at www.sedarplus.ca.

About Global Uranium Corp.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects: the Wing Lake Property in the Mudjatik Domain of northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp./NexGen Energy Ltd./Cameco Corporation/Orano Canada Inc. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.

Figure 1 Location of the Northwest Athabasca Project along Lake Athabasca in northwestern Saskatchewan. The closest communities are Uranium City, Fond du Lac and Fort Chipewyan. The western margin of the property is located along the Alberta – Saskatchewan Border.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/245274_1a76f135846719f6_003full.jpg

Figure 2 The main uranium showings and drill target areas on the Northwest Athabasca Project. The residual gravity and EM conductors are shown as the background.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/245274_1a76f135846719f6_004full.jpg

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

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

For further information contact:

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245274

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First Helium Announces Shallow Heavy Oil Discovery

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First Helium Inc. (‘First Helium’ or the ‘Company’) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced two discoveries at its Worsley Project:

Shallow Heavy Oil Discovery

  • In the recently completed 7-30 well, approximately 50 barrels of 15-degree API oil was recovered in the two calendar days following an acid stimulation, demonstrating vertical well, cold flow heavy oil capability.
  • The 7-15 well, without stimulation, also produced small quantities of heavy oil from the same formation and was shut-in for further evaluation following spring breakup.
  • This discovery confirms the Company’s ongoing evaluation of this zone (‘Heavy Oil Zone’), which occurs repeatedly over the Company’s 53,000-acre (~83 square miles) Worsley land base as a potential shallow heavy oil development play. The Company is now proceeding to prepare a plan to develop this potentially large, repeatable play.

Helium Enriched Natural Gas Play

  • Successfully tested the Blue Ridge Formation in its 7-15 well, which flowed natural gas with helium content of 1.0%.
  • Results confirm the eastern extension of the Blue Ridge helium enriched natural gas regional play concept established on the Company’s West Worsley lands.

‘Our recent drilling program has validated what we’ve long understood about the multi-zone potential of our Worsley property,’ said Ed Bereznicki, President & CEO of First Helium. ‘While our primary oil target in the Leduc formation did not test as commercially viable, our secondary target for heavy oil has exceeded our expectations for inflow of cold flow heavy oil from a vertical well bore. We are very excited to proceed with the development of this potentially large, shallow heavy oil play utilizing contemporary horizontal drilling methods. Our initial economic analyses indicate attractive rate of return estimates for a large, lower risk development play,’ added Mr. Bereznicki.

‘In addition to the heavy oil play, we are pleased to confirm the extension of our Blue Ridge helium enriched natural gas play to the eastern block of First Helium’s land base. This has the potential to significantly increase the size of this regional play at Worsley, making it attractive to potential partners for large scale development’, concluded Mr. Bereznicki.

The Company provides additional details on these two development opportunities:

Shallow Heavy Oil Opportunity

The Heavy Oil Zone has been recognized by the Company in numerous existing wellbores across the Worsley land base, representing the potential for a large, attractive, lower-risk oil development opportunity utilizing contemporary horizontal drilling technology. Based on the Company’s evaluation, including results of the 7-15 and 7-30 wells, potential project highlights would include:

  • Large volumes of oil in place, with management’s initial estimate of approximately 5 million barrels of original oil in place per square mile.
  • Application of contemporary, proven horizontal drilling techniques to maximize oil recovery.
  • Management analyses indicate attractive rate of return estimates and payback periods for a lower risk, cold flow heavy oil development play.
  • Company owned oil battery and water disposal facilities nearby to reduce operating costs.
  • Evaluation work has begun to prepare a plan for an area development project across Worsley.
  • Next steps include bringing the 7-30 heavy oil zone into production and preparing to drill a horizontal test well into the shallow formation to kickstart the development plan – both activities are being planned for early Q3.

Blue Ridge Opportunity

The Company has confirmed the extension of the Blue Ridge Formation from West Worsley to the eastern portion of its property through recent drilling. Highlights include:

  • Blue Ridge first identified at West Worsley, where two historical vertical wells produced natural gas with ~0.8% helium content.
  • 7-15 well gas sample analysis returned an average helium content of 1.0%, which is notably higher than the 0.8% results at West Worsley – confirming the observed trend of increasing helium content from west to east across the Company’s Worsley land base.
  • Based on results from drilling the 7-30 and 7-15 wells, the Company confirmed that the Blue Ridge play extends to East Worsley.
  • Company-owned pipeline network provides an infrastructure advantage for development across Worsley.
  • Next steps include completing and testing the 5-27 horizontal well and preparing an area development plan in collaboration with potential project partners.

Leduc Formation Targets Update

The Company’s recent drilling program also continues to advance its Leduc Formation targets:

  • Higher risk play for light oil, natural gas and helium.
  • Individual vertical exploration wells target discrete structures, complementing the lower-risk, more expansive, overlying horizontal development plays represented by the Heavy Oil Zone and the Blue Ridge Formation.
  • While the Leduc Formation structure target was reached as planned in each of 7-30 and 7-15, neither opportunity demonstrated commercial potential during testing, though valuable geological data was obtained to refine future targeting. The Company will incorporate the data into a fresh evaluation of the Leduc play, incorporating the prior successes at the15-25, 1-30, and 4-29 wells.
  • Interpretation of the Company’s proprietary 3D Seismic, incorporating the recent wells 7-15 and 7-30, validates the Company’s technical approach, reducing risk on future locations.

‘Our multi-formation approach at Worsley represents a balanced portfolio of opportunities,’ noted Mr. Bereznicki. ‘The combination of higher-impact Leduc targets along with more systematic development opportunities in the Heavy Oil Zone and Blue Ridge Formation provides both near-term potential and longer-term, scalable growth across our extensive land base.’

The Company will be providing more detail regarding its development plans for each opportunity over the course of the next quarter.

ABOUT First Helium

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.

First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.

Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium’s ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company’s Worsley land base.

For more information about the Company, please visit www.firsthelium.com .

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

CONTACT INFORMATION

First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)

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

FORWARD LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate’, ‘plan’, ‘continue’, ‘expect’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘predict’, ‘potential’ and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE: First Helium Inc.

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Nuclear Fuels Mourns the Passing of Independent Director Eugene Spiering

Investing 4 Mins Read

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) (‘Nuclear Fuels’ or the ‘Company’) announces with profound sadness, that Mr. Eugene Spiering a valued member of Nuclear Fuels’ Board of Directors, passed away earlier this week.

Eugene (Gene) Spiering was a well-respected geologist, globally renown for his work in uranium exploration with over 35 years of international experience in mineral exploration and senior level project management in the western United States , South America , and Europe . Gene’s work on the Kaycee Uranium District in the early 1980s provided the foundational geological framework for Nuclear Fuels’ flagship project. He served as a project geologist for Energy Fuels Nuclear in the 1990s, and during his tenure as Vice President of Exploration for Quaterra Resources, discovered the only two new uranium deposits in Arizona . More recently, as a member of the Company’s Board of Directors, his firsthand knowledge of the Kaycee area was invaluable and key to the exploration success on the Project thus far.

Greg Huffman , Chief Executive Officer, commented: ‘It is with great sadness we announce the loss of Gene as a director of the Company. He will be remembered as an icon in the uranium geological community, as well as for his friendly and outgoing nature. Our thoughts are with his family and loved ones.’

About Nuclear Fuels Inc.

Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale In-Situ Recovery (‘ISR’) amenable uranium projects towards production in the United States of America . Leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is well-positioned in a sector poised for significant and sustained growth on the back of strong government support. Nuclear Fuels has consolidated the Kaycee district under single-company control for the first time since the early 1980s. Currently planning its 2025 drill program following successful 2023 and 2024 drilling, the Company aims to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts defined by 3,800 drill holes. The Company’s strategic relationship with enCore Energy Corp., America’s Clean Energy Company, offers a mutually beneficial ‘pathway to production,’ with enCore owning an equity interest and retaining the right to back-in to 51% ownership in the flagship Kaycee Project in Wyoming’s prolific Powder River Basin.

Forward-Looking Information

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as ‘may’, ‘should’, ‘anticipate’, ‘expect’, ‘potential’, ‘believe’, ‘intend’ or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company’s profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

View original content to download multimedia: https://www.prnewswire.com/news-releases/nuclear-fuels-mourns-the-passing-of-independent-director-eugene-spiering-302406702.html

SOURCE Nuclear Fuels Inc.

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Business

Amazon AI scammers duped investors out of millions with ‘passive income’ scheme, FTC alleges

Business 4 Mins Read

The Federal Trade Commission is going after an e-commerce company that allegedly took millions of dollars from consumers as part of a “passive income” scheme, which spun up Amazon storefronts on their behalf and promised “insane returns” that were higher than the stock market.

The FTC said Tuesday it filed a lawsuit against the company, called Click Profit; its co-founders Craig Emslie and Patrick McGeoghean; and two other business associates. It also asked a judge to bar the parties from doing business temporarily.

The case is the latest example of the FTC cracking down on e-commerce “automation” services. These companies launch and manage online storefronts on behalf of clients, who pay money for the services and the promise of earning tens of thousands of dollars in “passive income.” The companies often make extravagant claims about potential earnings and the use of artificial intelligence technology to guarantee profits. Despite their assurances, consumers frequently end up losing money.

Click Profit, which also operated under the names FBALaunch, Automation Industries and PortfolioLaunch, promised investors they would “build you a massively profitable e-commerce store from the ground up” by selling products on Amazon, Walmart and TikTok, according to the FTC.

The company charged consumers between $45,000 to $75,000 for the initial investment, plus an additional $10,000 or more to pay for inventory, the FTC alleged in its complaint, which was filed in the U.S. District Court for the Southern District of Florida. Click Profit took up to 35% of any profits from their customers’ stores, the complaint states.

The company claimed the business opportunity was “safe, secure and proven to generate wealth,” according to marketing materials referenced in the FTC’s complaint. They posted screenshots of purportedly successful Amazon storefronts, including one they claimed generated product sales of over $540,000 in one month.

Emslie often appeared in TikTok videos and other online ads to pitch prospective consumers. In one ad, he said that “the stock market, real estate or precious metals will never be able to offer you” the level of security offered through investing in Click Profit, according to the FTC’s complaint. Other TikTok videos show him appearing alongside an image of Warren Buffett while “fanning himself” with wads of cash, per the complaint.

Click Profit talked up its expertise by claiming it had product sourcing partnerships with legitimate brands, including Nike, Disney, Dell, Colgate and Marvel, the complaint alleges. It also claimed to have spent $5 million to build a “super computer” and other AI technologies to locate the “most profitable products,” claiming the super computer had generated “around $100 million in sales,” per the complaint.

The company even implied that investors’ online store could be bought out by venture capital firms connected with Click Profit “at a 3-6x multiple,” the FTC alleged.

“In reality, the highly touted AI technology and brand partnerships do not exist, and the promised earnings never materialize,” the FTC said in its complaint.

Amazon suspended or terminated about 95% of Click Profit’s stores after they violated Amazon’s seller policies, the FTC alleged. After accounting for Amazon’s fees, more than one-fifth of Click Profit’s stores on the platform earned no money at all, while another third earned less than $2,500 in gross lifetime sales, the FTC stated.

As a result, most consumers were unable to recoup their investments and “some are saddled with burdensome credit card debt and unsold products,” according to the FTC, which also said that Click Profit often refused to refund victims their investments and threatened them with legal action if they posted publicly about their experience.

One unnamed consumer mentioned in the lawsuit invested “his life’s savings” in Click Profit and was later terminated as a client “with nothing to show for his payments,” the complaint states. He posted a negative review online and was allegedly approached by Emslie’s attorney, who threatened to sue the consumer and “take everything he and his wife owned,” per the complaint.

The consumer took the reviews down, then asked Emslie whether he could receive a partial refund, according to the FTC.

“The attorney told the consumer that Emslie had responded, ‘F*** off,’” the FTC alleged.

Representatives for Emslie and Click Profit didn’t immediately respond to a request for comment.

The FTC alleges Click Profit violated the FTC Act, the Consumer Review Fairness Act and the Business Opportunity Rule. It seeks to permanently prohibit Click Profit from doing business, as well as monetary relief for the victims.

This post appeared first on NBC NEWS

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Business

Nvidia CEO Jensen Huang says tariff impact won’t be meaningful in the near term

Business 2 Mins Read

Nvidia CEO Jensen Huang downplayed the negative impact from President Donald Trump’s tariffs, saying there won’t be any significant damage in the short run.

“We’ve got a lot of AI to build … AI is the foundation, the operating system of every industry going forward. … We are enthusiastic about building in America,” Huang said Wednesday in a CNBC “Squawk on the Street” interview. “Partners are working with us to bring manufacturing here. In the near term, the impact of tariffs won’t be meaningful.”

Trump has launched a new trade war by imposing tariffs against Washington’s three biggest trading partners, drawing immediate responses from Mexico, Canada and China. Recently, Trump said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House said those tariffs are set to take effect April 2.

“We’re as enthusiastic about building in America as anybody,” Huang said. “We’ve been working with TSMC to get them ready for manufacturing chips here in the United States. We also have great partners like Foxconn and Wistron, who are working with us to bring manufacturing onshore, so long-term manufacturing onshore is going to be something very, very possible to do, and we’ll do it.”

Shares of Nvidia have fallen more than 20% from their record high reached in January. The stock suffered a massive sell-off earlier this year due to concerns sparked by Chinese artificial intelligence lab DeepSeek that companies could potentially get greater performance in AI on far-lower infrastructure costs. Huang has pushed back on that theory, saying DeepSeek popularized reasoning models that will need more chips.

Nvidia, which designs and manufactures graphics processing units that are essential to the AI boom, has been restricted from doing business in China due to export controls that were increased at the end of the Biden administration.

Huang previously said the company’s percentage of revenue in China has fallen by about half due to the export restrictions, adding that there are other competitive pressures in the country, including from Huawei.

This post appeared first on NBC NEWS

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First the token, now the swipe: NYC’s subway system to stop selling MetroCards

Business 1 Min Read

The Metropolitan Transit Authority will stop selling and refilling those formerly-ubiquitous MetroCards by the end of the year in favor of the OMNY system, MTA Chair and CEO Janno Lieber told Crain’s New York Business Wednesday.

MetroCards have been around since 1994, but now seem destined to go the way of the subway token, which stopped being used in 2003.

MTA officials previously said they planned to say goodbye to MetroCards in 2027, but now have provided an estimated date when they will stop selling and filling the cards, and that’s at the end of 2025.

OMNY’s popular tap-and-go system has been around since 2019 and the service includes the ability to tap your phone to pay to purchase an OMNY tap card that passengers can buy and reload.

Commuters will still be able to use their existing MetroCards with whatever funds they have on them until sometime in 2027.

This post appeared first on NBC NEWS

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Stock

Riding the Wave: What the Stock Market Rebound Means for Your Investments

Stock 3 Mins Read

Last week, tariff talks, recession fears, and waning consumer sentiment sent stocks lower. This week, the narrative may have shifted, as investors prepare for a macro-filled week and NVIDIA’s annual GTC developers’ conference.

Retail sales data for February came in slightly lower than expectations but better than January’s number. This, along with Treasury Secretary Scott Bessant’s comments about the necessity of the economy undergoing a detox period, may have eased investor worries. All broader equity indexes closed higher on Monday, marking two solid up days in a row.

Next up, we have home prices and new home sales, an important measure of consumer health. The SPDR S&P Homebuilders ETF (XHB) went through a steep downturn as did the SPDR S&P Retail ETF (XRT). Consumer spending is a major contributor to GDP growth which is why these two charts should be on every inverter’s radar. While both ETFs saw an upside swing on Monday, it’s not enough to change the trend (see chart below).

FIGURE 1. SPDR S&P HOMEBUILDERS ETF AND SPDR S&P RETAIL ETF. Both saw a significant slide in value. The upside swing in the last price bar needs to see a lot more momentum and follow through and a confirmed trend reversal. Chart source: StockCharts.com. For educational purposes.

Both ETFs (XHB in the top panel and XRT in the bottom panel) are trading below their 50-day simple moving average (SMA). Monday’s upside move is significant enough to alert investors that perhaps momentum is starting to change. It could be the start of a reversal, a short-term rally that resumes its downtrend, or the beginning of a sideways move. Regardless, it’s worth monitoring the sectors and specific industry groups to get an idea of the general investor sentiment. The StockCharts MarketCarpets can go a long way in giving a big-picture view of the overall market (see below).

FIGURE 2. IT’S MOSTLY A SEA OF GREEN EXCEPT FOR THE HEAVY-WEIGHT LARGE-CAP STOCKS. There was money flowing into the market, especially in the Real Estate, Energy, and Consumer Staples sectors. Image source: StockCharts.com. For educational purposes.

Money flowed into the Real Estate, Energy, and Consumer Staples sectors, but all 11 S&P sectors closed in the green. The weakest performer was Consumer Discretionary—you can thank the slide in Tesla, Inc. (TSLA) and Amazon.com, Inc. (AMZN) for that.

All Ears on Fed

Perhaps the most important macro-event this week will be the FOMC meeting. Although an interest rate cut isn’t expected, there’s still uncertainty surrounding tariffs. When Federal Reserve Chairman Jerome Powell takes the podium on Wednesday, investors will be listening for clues about economic growth and inflation expectations.

Bond prices are showing signs of rising. The iShares 20+ Year Treasury Bond ETF (TLT), which has been trending higher this year, closed modestly higher. Gold and major cryptocurrencies such as Bitcoin and Ether also closed higher.

The Bottom Line

While it’s encouraging to see the stock market show upside momentum after sliding lower for almost a month, take things one day at a time. If you have some cash sitting on the sidelines, be patient and wait for confirming signals of a trend reversal.

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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Investing

Mining Industry’s Exploration Spending Lagging, Will Budgets Grow in 2025?

Investing 5 Mins Read

Exploration spending in the mining sector peaked in 2012 and has since declined for over a decade.

Last year, global funding for explorers dropped near lows last seen in 2005. This could mean funding has reached a cyclical low, and the industry may be ready for renewed interest and increased investment.

Speaking at this year’s Prospectors & Developers Association of Canada (PDAC) convention in Toronto, Kevin Murphy, research director for metals and mining research at S&P Global Market Intelligence, ran through issues surrounding the flow of capital into mining exploration and shared his thoughts on whether the tide will change this year.

Why has resource exploration funding declined?

Several factors have contributed to the decline of exploration funding.

Murphy noted that in the past decade, interest in the mining industry has seen competition, with new investors pursuing headline-grabbing opportunities in cryptocurrencies and elsewhere in the tech sector.

Meanwhile, many older investors in the industry began using their profits to fund their retirements.

In addition, much investment in the resource sector is focused on mining rather than juniors, which perform the majority of exploration. There has been little trickle down in funding from the majors to the juniors.

Aside from that, Murphy explained that for many metals, including copper, the focus has shifted away from greenfield exploration aimed at discovering new deposits. Instead, copper majors are performing more mine site exploration aimed at expanding resources at existing operations and, more broadly, increasing efficiency.

While mine site exploration increases supply, Murphy said it indicates structural deficiencies in the future.

“We’re adding to reserves and resources, but we’re adding to old discoveries — so assets that were discovered in the ’90s, ’80s and the ’60s,” he said. While this is replacing current production, Murphy believes that more money should be spent on greenfield exploration and the discovery of resources needed to meet future demand growth.

When it comes to the gold sector, which has been focused on mine site exploration for a longer time, Murphy suggested the downward trend in exploration funding has multiple causes.

“It’s been a rough go in 2024 for the juniors, and the juniors historically love gold exploration,” he said. ‘There’s been some pretty high-level M&A, and we find in exploration that … when large companies come together, they pare down their assets, and what would have been a tier-one asset for one company becomes a tier two and is put on hold.’

Even though gold has soared to record high prices, greenfield exploration funding hasn’t benefited. This is largely due to high inflation over the past several years, which has pushed operational costs higher and decreased margins.

When these foundational challenges come into perspective, untying purse strings becomes more difficult.

How geopolitics impacts resource exploration funding

Geopolitics is another major factor in exploration funding in 2025, according to Murphy.

He shared his thoughts on how this can affect Canadian mining companies.

“The Canadian government — there’s a lot of uncertainty there, and also that uncertainty happens to flow through to some very important programs like the METC, which is very good for exploration,” he said.

The METC, or Mineral Exploration Tax Credit, is part of a flow-through scheme that passes on paper costs to investors, allowing them to claim a 15 percent tax rebate on their investments.

The program’s future was uncertain going into PDAC, but on March 3, the day after Murphy’s presentation, Jonathan Wilkinson, Canada’s minister of energy and natural resources, extended it until March 31, 2027.

Even so, a great deal of unknowns remain. The Canadian government won’t sit again until March 24, this time with a new prime minister at the helm and with the almost-certain fate of a new election being called.

The continual threat of tariffs from the US has added to the chaos.

Investor takeaway

Looking at factors that may move the needle on exploration funding in 2025, Murphy said gold should do ‘pretty well’ under the Trump administration given its status as a safe-haven asset in times of uncertainty.

At the same time, global electrification remains a focus, which could help metals like copper.

However, exploration funding for other metals isn’t looking quite so rosy.

‘Will that be enough to push us into exploration budget growth this year? I would argue absolutely not,’ he said.

“The question really is going to be how far down we go this year, and if gold majors in particular are going to be increasing their budgets enough to counter what people see as being a pretty sour scenario for a lot of other commodities,’ Murphy explained to the audience at PDAC.

Whether or not the exploration funding cycle has bottomed remains to be seen.

‘Financing conditions continue to be incredibly challenging,’ Murphy said.

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

This post appeared first on investingnews.com

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Investing

Trigg Expands Tier-1 Australian Antimony-Gold Tenure with Grades up to 61% Sb & 1045 g/t Au

Investing 4 Mins Read

Trigg Minerals Limited (ASX: TMG| OTCQB: TMGLF) (‘Trigg’ or the ‘Company’) is pleased to announce the acquisition of the Nundle, Upper Hunter and Cobark/Copeland Projects, a highly prospective tenement package covering a significant portion of the historic Nundle Goldfield and three additional historic goldfields within the New England Orogen (NEO) in northern New South Wales.

HIGHLIGHTS

  • Trigg Minerals signs a binding purchase agreement to acquire 100% rights of the Nundle, Upper Hunter, Cobark/Copeland projects, conditional upon completion of due diligence. Covering a total area of 1,039.7 km².
  • These projects will be developed as Trigg’s second flagship exploration asset behind its primary, advanced stage high-grade Wild Cattle Creek deposit. Trigg will have two exploration teams advancing both these new projects and Wild Cattle Creek simultaneously.
  • The package includes five historical antimony deposits, with rock chips grading 61% Sb and 9.7% Sb, and 12 tonnes of recorded Sb production (EL 9594, Nundle), plus a 37% Sb sample collected from 12m down adit indicating potential mineralisation at depth (EL 9655, Upper Hunter).
  • The tenements also feature 60+ historical gold mines/occurrences across each tenement with historical recorded high-grade production. As an example, Standard Reef was worked in 1904 with an estimated production of 15,000oz at 53.8 g/t Au.
  • Total historical production across the tenement package is estimated at 174,000 oz Au without modern mining techniques and significantly lower gold prices. Initial review suggests that mineralisation is interpreted to be open along strike and down depth and with considerable high grade rock chip grades ranging from 30 g/t Au to 1,045 g/t Au.
  • The addition of the Nundle Project to TMG’s North Nundle holdings extends the Company’s prospective strike along the underexplored and prolific Peel Fault to approximately 40 km, significantly enhancing exploration potential.

The acquisition includes four key projects:

Nundle (EL 9594)

The Nundle Goldfield has a rich history of gold production, with several historical antimony mines present within the region. It covers parts of the major Peel Fault and contains numerous old workings where typically small high-grade gold deposits occur in dolerites. The expanded Nundle Project, encompassing both Nundle and North Nundle, provides Trigg access to a 40 km length of the Peel Fault, a deep-seated conduit for mineralising fluids, controlling the localisation of auriferous (gold-bearing) quartz veins and antimony deposits. Several historical goldfields, including Nundle, Hanging Rock, and Bingara, are closely associated with this fault system.

Upper Hunter (EL 9655)

The Upper Hunter Goldfield in NSW is a historic gold-producing region known for its structurally controlled, quartz-vein-hosted gold deposits. Mineralisation occurs in fault breccia and shear zones within sedimentary rocks, with gold typically found alongside pyrite, arsenopyrite, minor chalcopyrite, and, locally, stibnite (antimony).

Cobark and Copeland (EL 9653)

The Cobark and Copeland Goldfields in NSW were prominent during the late 1800s gold rush. Mining focused on high-grade quartz veins hosted in faults and shear zones. The Copeland area became a key mining hub, with underground workings targeting gold-rich sulphides such as pyrite, stibnite (antimony), arsenopyrite, and minor chalcopyrite. The region remains highly prospective for modern exploration.

The association of antimony mineralisation with gold enhances the project’s critical mineral potential, aligning with Trigg Minerals’ strategy to explore and develop high-value, multi- commodity assets in Tier-1 mining jurisdictions.

STRATEGIC RATIONALE

The Projects are in an underexplored yet highly prospective region, with historical workings and strong geological indicators suggesting significant upside potential. The presence of both gold and antimony presents an exciting opportunity for Trigg to unlock new resources and expand its footprint in the strategic metals sector.

Tim Morrison, Executive Chairman of Trigg Minerals, commented:

“The acquisition of the Nundle and other Projects marks an exciting expansion for Trigg Minerals into historically productive goldfields with strong critical mineral potential. The presence of both gold and antimony in this underexplored region aligns perfectly with our focus on high-value, strategically significant minerals. We look forward to applying modern exploration techniques to uncover new opportunities within this proven mineral province.”

Click here for the full ASX Release

This post appeared first on investingnews.com

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Stock

Stock Market Shifts Gears: Indexes Plunge After Climb

Stock 3 Mins Read

Tuesday’s stock market action marked a reversal in investor sentiment, with the broader indexes closing lower. The S&P 500 ($SPX), Nasdaq Composite ($COMPQ), and Dow Jones Industrial Average ($INDU) are still below their 200-day simple moving average (SMA). Investor anxiety is elevated ahead of the Fed’s culmination of its two-day policy meeting. The risk-off sentiment is back, with gold and silver prices rallying. But it may not all be due to the risk-off mode, as lower US Treasury yields and the lower US dollar may have also played a role in the precious metal rally. The SPDR Gold Shares (GLD) hit a new all-time high and silver prices are on the rise.

Technology and consumer discretionary were Tuesday’s worst-performing sectors, while Energy and Health Care took the lead but rose modestly. Overall, it was a pretty red day for U.S. equities (see the StockCharts MarketCarpet below).

FIGURE 1. A SEA OF RED. Tuesday’s StockCharts MarketCarpet was a sea of red with specks of green in the Energy and Health Care, Real Estate, Materials, and Industrials sectors.Image source: StockCharts.com. For educational purposes.

The Mag 7 Unwind

The mega-cap, Mag 7 stocks stand out strongly in Tuesday’s MarketCarpet. The daily chart of the Roundhill Big Tech ETF (MAGS) below shows how these stocks are in a steep fall. The ETF fell below its 50-day SMA and struggled to retain its position above it. The fall from the 50-day to the 200-day SMA was like an elevator ride down. MAGS managed to find a little resistance at its 200-day SMA, but that was short-lived. 

FIGURE 2. ROUNDHILL BIG TECH ETF (MAGS) SLIDES BELOW 200-DAY MOVING AVERAGE. After sliding below its 50-day SMA, MAGS fell hard and continued sliding as it broke below the 200-day SMA.Chart source: StockCharts.com. For educational purposes.

The rise in volume after MAGS fell below its 200-day SMA suggests there’s a lot more selling than buying. The relative strength index (RSI) is hovering above 30, which implies it isn’t oversold yet. So there’s a chance MAGS could fall lower, although it could reverse before dipping into oversold territory.

International Markets

Meanwhile, the iShares China Large-Cap ETF (FXI), iShares MSCI Germany (EWG), iShares MSCI Italy ETF (EWI), and other European stock ETFs are rising. The daily chart of the iShares MSCI EAFE ETF (EFA), which has its top 10 holdings in European companies, is hitting all-time highs (see below).

FIGURE 3. DAILY CHART OF ISHARES MSCI EAFE ETF. European stocks have been rising since early 2025. The 50-day SMA has crossed above the 200-day and price is well above the 50-day SMA.Chart source: StockCharts.com. For educational purposes.

With elevated tariff uncertainty, a slowdown in the U.S. economy, and declining U.S. consumer confidence, it shouldn’t be surprising to see investors diversifying their holdings across different asset groups. This reiterates the importance of having a diversified portfolio spread across different sectors, precious metals, international stocks, and bonds. 

The Closing Bell

Tuesday’s reversal after a two-day winning streak suggests investor uncertainty remains prominent. The Federal Reserve policy meeting ends on Wednesday. Chairman Powell’s press conference is the main event to listen to on Wednesday, but really, any headline could rock the markets in either direction. The best you can do is stay diversified.

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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