-01.png)
Yesterday March 14 (3/14) was Pi Day. Pi is the constant ratio between the circumference and the diameter of a circle (3.141592654). Today is the Ides of March, (beware) and Caesar was assassinated, by the Senate, on this day in 56 BCE.
This week Canadian markets have continued the positive trend and are up 4.8% on the year- to-date, and in all-time high territory. Oil and gold stocks provided much of the lift while U.S. CPI data weighed on financials as it looks like it is still unlikely that rate cuts will be seen soon.
In the U.S., the market continues to hold on at all-time highs, with the S&P 500 remaining in the range of 5160 today, despite a bit of a dip early in the week. While the Fed is not expected to raise interest rates further, markets have backed away from the potential for an interest rate cut in June, after slightly hotter-than-expected inflation data this week. The Fed is widely expected to keep interest rates unchanged next week, as the economy continues to be strong with employment remaining high, and corporate earnings solid. The U.S. dollar regained strength this week, up 2% since the start of the year.
Gold is up $80/oz in March and reached a new all-time high last week trading, at $2,160/oz this morning. Silver has been gaining this week and is up to $25.15/oz this morning. Share prices of major producers and some mid-sized companies have been seen to be moving up. Junior exploration companies have not felt the benefit of the higher prices yet.
Some beginnings of positive influence are being seen in most base metals. Based on shortages in supply copper moved above $4.00/lb. Battery materials continue to struggle as the EV market continues to fail to show significant gains.
It has been a productive week for our clients, and we are pleased to present to you our round-up of their news released between March 11-15, 2024.
Mining
On March 13, 2024, Falcon Gold Corp. (TSXV: FG) (GR: 3FA) (OTCQB: FGLDF) (“Falcon” or the “Company”) announced that the Company has awarded a drilling contract to CentreLine Drilling of Newfoundland to conduct a diamond drilling program at its 100%-owned Great Burnt Copper Project in Central Newfoundland. The Company initially plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling. Falcon will provide further guidance on an estimated drill start date once logistics for the program are determined and the remaining service providers are confirmed.
Falcon holds a 100% interest in 2,275 hectares in the Great Burnt camp, with licenses located north of, and contiguous to the Benton Resources Inc. – Spruce Ridge Resources Ltd. Great Burnt Copper-Gold joint venture. The Great Burnt Greenstone Belt is prospective for copper and gold, and further hosts the South Pond A and South Pond B copper-gold zones, and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon’s Great Burnt Copper Property. The presence of mineral occurrences on the ground adjacent to Falcon’s Great Burnt Copper Property is not an indication of the presence of mineralization within Falcon’s property itself.
On March 13, 2024, Nuinsco Resources Limited (CSE: NWI) (FRA: NJX) provided an update on metallurgical results from studies conducted on the Company’s Prairie Lake critical minerals and phosphate project located near Terrace Bay, Ontario which indicate excellent progress towards developing a process to economically produce multiple mineral concentrates. Mr. Grant Feasby, a metallurgist at P&E Mining Consulting and consultant to the Company commented: “Preliminary metallurgical test work to date, at expert test facilities operated by COREM in Quebec and SGS-Lakefield in Ontario, has demonstrated that the mineral apatite can be concentrated to reliably produce a phosphate grade of at least 26% P2O5 at 76% recovery. Rare Earth Elements (“REE”) are co-concentrated with the phosphate, currently up to a concentrate grade of 1% total rare earth oxide (“TREO”), of which approximately 26% are the elements neodymium and praseodymium, which are valuable to permanent magnet production. Additional test development may improve concentrate grades and recoveries as well as demonstrate the separation of the REE from fertilizer and battery-grade phosphate. A niobium concentration strategy is also being developed.”
Technology
On March 12, 2024, Visionstate Corp. (TSXV: VIS)announced that its portfolio investment company, Sol Spaces Inc., has entered into a strategic agreement with Diplomat Consulting Inc. (“Diplomat”) to represent Sol Spaces as it endeavours to deploy transitional housing options to address homelessness and affordability challenges in Edmonton, Alberta. Diplomat is renowned for its expertise in regulatory intelligence, communications, and corporate development, and will play a pivotal role in advocating for Sol Spaces’ innovative solutions in transitional and affordable housing. Sol Spaces specializes in leveraging technology and intelligent design to construct modern living spaces tailored to meet the unique needs of transitional housing and affordable housing initiatives. Sol Spaces stands ready with its modularized studio living spaces, poised to offer a scalable solution to the pressing housing crisis. Utilizing cutting-edge technologies such as IoT and AI, Sol Spaces ensures optimal building performance from inception, providing residents with safe, comfortable, and sustainable living environments. Visionstate Corp. is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things (IoT), big data and analytics, and sustainability. Visionstate Corp. holds approximately 40% ownership in Sol Spaces, reaffirming its commitment to driving social impact and sustainable development through its investment portfolio. Diplomat is a boutique consulting firm focused on regulatory intelligence, communications, and corporate development. It specializes in niche emerging markets and regulated industries, such as agriculture, life sciences, emerging digital technologies, Indigenous relations, and more. The firm is based in Edmonton but with an office in Ottawa.
On March 12, 2024, StickIt Technologies Inc. (CSE: STKT) was featured in an Investment-Pitch Media video. StickIt is a company at the forefront of the global cannabis industry with a portfolio of revolutionary products that bring new and enhanced experiences to consumers smoking or drinking various products. The company’s flagship product is a device that resembles a toothpick in shape, allowing it to be easily inserted into any combustion smoking device in the form of a pre-roll or cigarette. It is available in a wide range of tastes and flavors, as its technology allows for adding terpenes to the finished product which can be adjusted to produce different concentrations of cannabinoids like CBD, THC, and CBG according to any local regulation. StickIt recently launched StirIt for mixing cannabinoids into hot drinks. SipIt, another new product, is a special straw containing a hidden cartridge containing cannabinoids such as THC and CB. View the Interview Video Here.
Save the Date
April 23-25, 2024, Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) will be attending and presenting at the Central MinEx Mineral Industry Showcase, an initiative by the Gander and Area Chamber of Commerce in partnership with the Town of Gander. This conference and trade show event will promote exciting dialogue featuring industry thought leaders, technical experts, suppliers, and the local business community to exchange ideas and ignite new opportunities in the mineral exploration and development sector. The conference program will feature a Trade Show, Prospectors’ Tent, Core Shack, and Networking Events.
Comments