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October Report Highlights Big Gains in Crypto Mining Efficiency and Expansion

Source: Streetwise Reports 11/06/2024

Terawulf Inc. (WULF:NASDAQ) has reported its October 2024 production and operations. Read more about the companys mining efficiency gains, expansion plans, and high-performance computing initiatives.

Terawulf Inc. (WULF:NASDAQ) has reported its October 2024 production and operations. The report included significant advancements in self-mining with an operational capacity reaching 8.1 exahash per second (EH/s). This marks a 62% increase from the prior year. The company mined a total of 150 bitcoins during the month, averaging approximately 4.8 bitcoins per day, at a power cost of US$36,789 per bitcoin mined or about US$0.048 per kWh (kilowatt-hour). To improve efficiency, TeraWulf continued its miner refresh program at its Lake Mariner facility, replacing older models with upgraded S19 XP miners following its sale of interest in the Nautilus Cryptomine facility, which enabled additional hardware acquisitions.

Focusing on high-performance computing (HPC) infrastructure, TeraWulf's aim is to establish 72.5 MW HPC hosting capacity at Lake Mariner by Q2 2025. October's operational hash rate averaged 6.8 EH/s, with adjustments made for demand response events and performance optimization measures to enhance profitability. Construction on the company's 20 MW HPC hosting facility, CB-1, remains on schedule for Q1 2025, and a larger 50 MW HPC facility, CB-2, is expected by Q2 2025. The recent sale of TeraWulf's equity interest in Nautilus and new financing through convertible notes are anticipated to support these growth initiatives.

Sean Farrell, Senior Vice President of Operations at TeraWulf, explained in the press release, "October marked another productive month, with TeraWulf mining 150 bitcoin and sustaining an average daily production of around 5 bitcoin . . . In line with our previously outlined plans, we are accelerating the transition to more efficient mining hardware by replacing older miners at Lake Mariner with S19 XP models. We are also working closely with Bitmain's warranty department on a recovery plan to repair and replace 1.5 EH of mining equipment with a target completion by the end of the year. Furthermore, we have established a dedicated Business Development and Performance Optimization team focused on integrating advanced IT and software solutions to improve our operational hash rate and overall efficiency. Building 5, which has been designed to handle higher heat exhaust of the latest generation miners, remains on track to be operational in Q1 2025."

Why Crypto Mining?

The cryptocurrency mining sector has seen recent momentum, bolstered by the U.S. election results and the evolving landscape for Bitcoin. As Benzinga reported on November 6, bitcoin mining stocks experienced notable gains following the U.S. presidential election, which led to Bitcoin reaching record highs. The outcome was anticipated to benefit U.S.-focused mining companies as pro-crypto policies, including a preference for domestic bitcoin production, gained prominence. Benzinga noted that Trump had previously expressed support for more bitcoin mining within the U.S., a stance that influenced broader market optimism in the days following his election.

On November 4, Yahoo! Finance highlighted the growing trend among Bitcoin miners to integrate artificial intelligence (AI) to power a "new industrial revolution." As described by Rob Nelson, who emphasized the impact of cryptocurrency mining as a vehicle for both economic and technological change. This trend has driven miners to secure deals within the AI sector, given the synergies in computational power required for both cryptocurrency and AI initiatives. Nelson projected that this cross-industry expansion could have far-reaching effects, creating value for both miners and AI-focused enterprises.

Additionally, a November 6 report from Time explored the significance of the recent Presidential election outcome for the crypto industry's future regulatory environment. According to Time, Trump's support for the industry included ambitions to boost the country's bitcoin mining footprint, which aligned with crypto PACs' efforts to secure pro-crypto candidates. The article reported that these advocacy groups saw the election as an opportunity to reshape crypto regulation and encourage growth in U.S.-based bitcoin mining.

TeraWulf's Catalysts

TeraWulf's recent initiatives set a foundation for further growth and operational efficiency. According to the company's investor presentation, the sale of its 25% equity interest in the Nautilus facility enhances liquidity. This enables TeraWulf to reinvest in its flagship Lake Mariner site for both HPC and AI expansion.

The transaction also reduces exposure to the expiring Nautilus 2¢ power contract by 2027, positioning the company to benefit from projected power price increases at Lake Mariner. This strategic realignment is anticipated to improve fleet efficiency, with an upgraded mining fleet targeting 13 EH/s by Q1 2025, supported by the deployment of next-gen S21 Pro miners.

What Experts Are Saying...

On November 5, 2024, Roth MKM analyst Darren Aftahi assigned TeraWulf a "Buy" rating and set a price target of US$7.50. Roth highlighted optimism around the company's expansion and potential in high-performance computing (HPC) and bitcoin mining. Roth noted that TeraWulf's planned 72.5 MW of HPC capacity by Q2 2025 could generate annualized revenue of approximately US$90 million, with over US$60 million in profit. [OWNERSHIP_CHART-11184]

The report highlighted the completion of TeraWulf's initial 2.5 MW HPC project and its upcoming 20 MW facility, which remains on track for Q1 2025. Roth analysts pointed to the operational progress at TeraWulf's Lake Mariner facility, emphasizing the company's improvements in mining efficiency with new S19 XP models, which brought its machine efficiency to 22 J/TH.

Ownership and Share Structure

According to Refinitiv, management and insiders hold 6.67% of TeraWulf. Of them, Co-founder, COO, and CTO Nazar M. Khan holds the most, with 4.43%.

Strategic investors hold 21.37%. Of them, Riesling Power LLC holds the most at 5.23%, Baryshore Capital LLC holds 4.77%, Revolve Capital LLC has 4.67%, Opportunity Four of Parabolic Ventures owns 2.46%, and Lake Harriet Holdings LLC has 1.90%.

Institutions have 45.11%. The largest holders there are The Vanguard Group at 6.12%, BlackRock Instituional Trust with 4.22%, Two Sigma Investments LP at 2.28%, Beryl Capital Management LLC holds 1.74%, and Geode Capital Management LLC has 1.66%. The rest is retail.

TeraWulf has a market cap of US$2,375.93 million and 275.29 million free float shares. Their 52-week range is US$ 0.8911 - 7.28.
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Important Disclosures:

1) James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.

2) This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: WULF:NASDAQ, )




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Gold Co. Starts Drilling at Claim Block in West Africa

Source: Streetwise Reports 11/07/2024

Its objective is to discover multimillion-ounce gold deposits at this property in a prolific gold mining district in Guinea. Find out what experts are saying about the gold market.

Sanu Gold Corp. (SANU:CSE; SNGCF:OTCQB; L73:FRA) commenced inaugural phase one drilling, to comprise about 19 holes for up to 2,000 meters (2,000m), at its Diguifara project in Guinea, as announced in a news release. Diguifara is one of this Canadian mineral explorer's three claim blocks totaling 280 square kilometers in the country's Siguiri Basin, a prolific gold district in West Africa. The other two assets are Daina and Bantabaye.

The company plans to drill test three priority targets, Dig 1, Dig 2, and Dig 3, which cover a cumulative strike length of 3.2 kilometers (3.2 km). Auger-in-saprolite samples from these targets showed gold grades up to 4.8 grams per ton (4.8 g/t). Along with auger sampling of bedrock, Sanu previously completed extensive and systematic surface geochemistry and ground geophysical surveys at Diguifara.

Capital Ltd. will complete the drilling, using a large multipurpose rig to drill air core and reverse circulation holes. This company is experienced in drilling large deposits in Guinea, and its investment arm, Capital DI, is a Sanu shareholder. Capital will collect samples on-site and submit them to MSALABS in Bamako, Mali, for analysis.

Sanu Gold is excited to drill at Diguifara because it contains kilometer-scale geochemical and geophysical gold trends and strong gold mineralization in the weathered bedrock and is located within trucking distance to a large operating gold mine, President and Chief Executive Officer (CEO) Martin Pawlitschek told Streetwise Reports in an interview. He said the company could potentially monetize even a modest discovery of about 200,000–300,000 ounces (200–300 Koz) on the block due to this proximity to a major mine. Although it is important to point out that our target here is to make multi-million-ounce discoveries, our targets are large enough to potentially deliver this.

Diguifara is close to AngloGold Ashanti Plc.'s (AU:NYSE; ANG:JSE; AGG:ASX; AGD:LSE) Siguiri mine and mill, which produced gold since the mid-1990s, specifically 214 Koz last year. This South African gold miner owns 14% of Sanu.

"[AngloGold Ashanti has] a very hungry mill that will welcome additional ore feed from satellite deposits, and we're right in the range," said Pawlitschek.

In other news, Sanu announced separately that it added a new prospective gold target, Salat East, at its Daina claim block in the southeastern corner. There, artisanal miners started extracting mineralized material along a 500m-long, northeast-trending line of workings from a 5–8m wide structure dipping to the west. Daina already has an impressive pipeline of large footprint targets that will see drilling once the rig finishes at Diguifara.

"Salat East represents a new target with possible significant gold ounce potential," Pawlitschek said in the release.

Sanu intends to evaluate this target, with rock chip sampling, geological mapping and geophysics, prior to deciding whether or not to drill it.

Working to Discover Deposits

At Diguifara, Daina and Bantabaye, Sanu Gold is looking to discover multimillion-ounce gold deposits. The trio, in the Siguiri Basin, is surrounded by world-class operating mines and major new discoveries. Société Minière de Dinguiraye SA's Lefa, Hummingbird Resources Plc's (HUM:AIM) Kouroussa and Robex Resources Inc.'s (RBX:TSX.V) Kiniero and Predictive Discovery (PDI:ASX) with its 5.4million ounce Bankan project are some.

"We believe there is definitely that big potential on all three blocks," Pawlitschek told Streetwise.

Guinea and West Africa are pro-mining and looking to expand the industry, noted Sanu's CEO. Since the mid-1990s gold has been mined in Guinea. Last year, gold output there was 10% higher than in 2022, making Guinea the world's 23rd largest producer of the metal, according to GlobalData.

With contributions from operations in Guinea, and Ghana, Burkina Faso and Mali, West Africa has become a key gold mining region, reports the data analytics firm. It forecasts total gold production in West Africa this year will be 11,830,000 ounces.

Gold Continues Historic Climb

The gold price broke through the US$2,800 per ounce (US$2,800/oz) Wednesday, marking its fourth consecutive monthly gain, Reuters reported on Oct. 31. After, gold retreated, to end today at US$2756/oz.

"You're going to see a bit more consolidation," David Meger, director of metals trading at High Ridge Futures, told Reuters. "We have a lot of major impactful news next week, the U.S. election on Tuesday, Fed meeting on Wednesday. So it's really not surprising to see some traders take profits."

As for gold equities, the S&P/TSX Venture Composite Index (SPCDNX) confirmed a multidecade bull run for junior, intermediate, and senior mining stocks when it closed above 1,000 recently, Stewart Thomson with 321Gold wrote. The index is a key indicator of the health of the general gold, silver, and mining stocks market.

A reversal of outflows from gold exchange-traded funds occurred during Q3/24, and inflows during the quarter amounted to 95 tons, as reported by the World Gold Council, reported Ron Struthers of Struthers Resource Stock Report on Oct. 30. Positive inflows during the quarter came from all geographical regions, for holdings of 3,200 tons.

"All regions saw positive inflows during the quarter, which ended with collective holdings of 3,200 tons," the newsletter writer added. "Next year, we should be back to levels of 2020 and 2021. This will be fuel for a continued bull market."

Experts predict the gold price will continue its historic climb. Recently polled London Bullion Market Association members indicated they believe the gold price could reach US$2,940/oz during 2025, reported Stockhead.

Also, for 2025, InvestingHaven predicts US$3,100/oz gold. This is based on leading gold price indicators, including heightened inflation and increasing central bank demand, and from patterns on long-term gold charts, it noted.

The Catalysts: Drill Results

With drilling underway at Diguifara, results from the program could catalyze Sanu's stock, said Pawlitschek. They will be released when ready in about six to eight weeks.

Meanwhile, the gold company will tackle preparations for drilling untested targets at Daina, which will start soon. The scope of the campaign planned for Daina matches that is being carried out at Diguifara. [OWNERSHIP_CHART-10892]

"We have multiple targets that are going for 3, 4, up to 9 km strike lengths, some of them," the CEO said, referring to Diguifara and Daina.

When the initial phase at Daina is complete and results from Diguifara are back, we will likely go back to Difuifara for follow up drilling.

Ownership and Share Structure

According to the company's latest presentation, the largest share holders include strategic investors Anglo Gold Ashanti at 14 % and Capital at 10%.

Institutional investors include Scotia Global Asset Management, US Global Investors, Lowell Resources Funds Management, and Palos Management, which collectively make up 17% of the shareholders.

Management, founders and insider own around 22% with another 22% being held by high net worth individuals. 15% is held by retail investors.

The market cap for Sanu Gold is CA$17-18million with 238.5 million common shares. The 52-week range for the stock is CA$0.03 and CA$0.15.

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Important Disclosures:

  1. Sanu Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Sanu Gold Corp.
  3. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
  4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: SANU:CSE;SNGCF:OTCQB;L73:FRA, )




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Silver Explorer to start Trading on TSX.V

Source: Streetwise Reports 11/11/2024

This newly listed Canadian company is building ounces at its flagship project in Alaska, targeting 500,000 Moz of silver equivalent. Read on to learn more about it.

Silver47 Exploration Corp. is set to start trading around November 14, 2024 on the TSX Venture Exchange under the ticker symbol AGA.

"With silver prices breaking out, we are excited to bring Silver47 to the market, and I believe that we are in for a good run in the metals market," Chief Executive Officer (CEO) Gary Thompson said.

The company is "extremely undervalued" when compared to peers, at US$0.17 per silver equivalent (AgEq) ounce, Thompson told Streetwise Reports in a Nov. 6 interview.

The CEO also noted that Silver47 has begun ramping up its marketing efforts, given the final prospectus is now filed as its trading debut is fast approaching.

Building Silver Ounces

Based in British Columbia (B.C.), Silver47 is a mineral explorer with a diverse portfolio of silver-polymetallic projects in North America, including Red Mountain in Alaska, Adams Plateau in B.C., and Michelle in the Yukon. Its flagship asset, Red Mountain, is a volcanogenic massive sulfide (VMS) deposit rich in silver, gold, zinc, copper, and lead.

"When you have these three or four or five metals, the combination can be favorable and actually normalize metal price volatility, improve your production profile, and increase your margins with good metal recoveries, of course," Thompson noted.

Red Mountain's current NI 43-101 compliant resource stands at 15,600,000 tons (15.6 Mt) of 7% zinc equivalent in the Inferred category. This is equal to 168,600,000 ounces (168.6 Moz) of 335.7 grams per ton of silver equivalent.

Chen Lin, asset manager behind What is Chen Buying? What is Chen Selling? wrote on Oct. 28. "The Red Mountain Project has a lot of exploration upside."

The company aims to expand the Red Mountain resource with its "Exploration Target" of 50-75Mt at 300-400 g/t AgEq for and estimated to 500–900 Moz of AgEq and advance it toward development decision, while generating new discoveries.

"Our goal is to really focus on the precious metal part of the system," Thompson said. "That's the reason we got interested in it, simply because of some impressive silver and gold drill intercepts in the system, and we want to flush those out. And so we're going to try and improve that precious to base metal ratio or the overall resource."

Chen Lin, asset manager behind What is Chen Buying? What is Chen Selling? wrote on Oct. 28. "The Red Mountain Project has a lot of exploration upside."

Thompson highlighted how minerally endowed and prolific VMS systems can be, citing the Kidd Creek mines as examples. La Rond, Flin Flon, and Noranda, to name a few. Kidd Creek, in Ontario, Canada's Abitibi greenstone belt, is one of the world's largest VMS ore deposits. The operation began producing copper, zinc, and silver in 1966 and is now owned by Glencore International Plc (GLNCY:OTCMKTS; GLEN:LSE).

Red Mountain, located about 100 kilometers south of Fairbanks on state-managed lands, is in a top-tier, pro-mining jurisdiction. Alaska ranked as the 11th most attractive jurisdiction for mining investment out of 86 places worldwide last year, according to the Fraser Institute.

"We have strong support from the state to advance this and to work with us on upgrading these various infrastructure components to the project," Thompson said, referring to enhancing the road access, for example. Project accessibility is reasonable, he added but has room for improvement.

Silver47 boasts an experienced technical and management team led by founder, geologist, and company builder Gary R. Thompson, who also is cofounder, chairman, and CEO of Brixton Metals Corporation (BBB:TSX.V). Prior to starting Brixton Metals, he sold Sierra Geothermal Power to Ram Power in 2010. Silver47 going public will be his fourth public company, the fourth one being Gold79 Mines Ltd. (AUU:TSXV; OTCQB:AUSVF). His experience in resource exploration, including precious and base metals, renewable energy, and oil & gas, spans 27 years,15 of them in public markets. His history includes positions at Newmont Alaska Ltd. and NOVAGOLD Resources Inc. (NG:TSX; NG:NYSE.MKT), as well as discovering and selling the TAG gold-silver prospect to Taku Gold Corp. (TAK:TSX.V; TAKUF:OTCMKTS). Also, he sold the Kahuna claims in Nunavut, near Agnico Eagle Mines Ltd.'s (AEM:TSX; AEM:NYSE) Meliadine mine, to Kodiak Copper Corp. (KDK:TSX.V) and Solstice Gold.

Experts Still Bullish on Silver

Today, U.S. election euphoria is boosting the stock markets but depressing precious metals, noted Technical Analyst Clive Maund in a report on Nov. 6. On this day, hours after the U.S. president-elect was announced, silver opened at US$31.04/oz, lower than the day before by 5.22%. Only two weeks ago, the price, in comparison, had broken through US$35/oz.

This current bearish trend should end once the high surrounding the election dissipates and reality sets back in, Maund purported. When this happens, "we will see money flow back into the precious metals and other such assets, as they must hold their value in an environment where inflation is continuing to mount," he wrote.

According to economies.com on Nov. 6, for the silver price to turn around, it must first breach US$32.50 and then $33.04/oz. This will "push the price to turn to rise."

While the price of silver experiences volatility, its supply and demand fundamentals remain constant. Worldwide demand for silver, valued as an industrial and precious metal, is expected to increase 2% this year over last, to 1,200,000,000 ounces, yet supply is projected to drop 1%, according to The Silver Institute. This year, the global silver market is forecasted to face a deficit of 259 Moz, Money Metals reported The Silver Investor's Peter Krauth in a recent presentation.

Most, or 60%, of silver demand is for industrial applications, including electrical, electronics, printing, medical, space technology, and the military-industrial complex. Given its use in electric vehicles, photovoltaic panels, and batteries, silver is critical to the global green energy transition. Demand for use in photovoltaic panels alone this year will be about 232 Moz, nearly three times the 80 Moz needed in 2020, according to The Silver Institute.

The remaining 40% of total global silver demand is for jewelry, silverware, and investments.

New applications of silver continue to be discovered in biotech, for example, according to The Pure Gold Co. As technology and the global economy evolve, so will silver's industrial uses, Matt Watson, founder and president of Precious Metals Commodity Management, told Kitco News. Expansion of the artificial intelligence industry will boost demand for silver, too, for use in energy storage, transportation, nanotechnology, and more.

"[Silver] is the do-it-all metal on the Periodic Table," Watson said. "I don't see any fundamental downside to silver."

Looking ahead, experts expect the silver price to keep rising over time. Dominic Frisby of The Flying Frisby wrote recently, "There is not a lot standing in the way of silver and US$50. In that scenario, the miners will go to the moon. If it breaks above US$50, there is nothing but blue sky above."

Krauth thinks the silver price could actually reach triple-triple digits, or US$300/oz, based on the technical and historical indicators, he said in a recent video. "I don't believe it will stay there, but I do think that it could be in our future."

Ownership and Share Structure

Silver47’s three largest shareholders are Eric Sprott, Crescat Capital, and management.

The silver explorer has a tight share structure with 50 million (50M) total shares, 65M fully diluted. Thompson said it would begin trading with a CA$40 million market cap.

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Important Disclosures:

  1. Silver47 Exploration Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Silver47 Exploration Corp. and Agnico Eagle Mines Ltd.
  3. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
  4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.




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Noteworthy Chemistry - September 27, 2013

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High-Grade Uranium Discovery Confirms Potential at Northern Saskatchewan Projects

Source: Streetwise Reports 10/18/2024

Aero Energy Ltd. (AERO:TSXV; AAUGF:OTC; UU3:FRA) has announced significant advancements at its Murmac and Sun Dog uranium projects in Northern Saskatchewan. Read how this and a CA$2.5-million non-brokered private placement aim the company towards further exploration.

Aero Energy Ltd. (AERO:TSXV; AAUGF:OTC; UU3:FRA) has announced significant advancements at its Murmac and Sun Dog uranium projects in Northern Saskatchewan, with the first drill program revealing high-grade uranium potential. Situated near Uranium City on the Athabasca Basin's northern margin, the projects aim to capitalize on basement-hosted uranium deposits similar to high-grade discoveries in the region.

The initial drill campaign completed 16 holes, targeting 12 key areas, with 12 holes yielding anomalous radioactivity. A major highlight is the new high-grade uranium discovery in drill hole M24-017, which intersected 8.4 meters of mineralization at 0.3% U3O8, including assays peaking at 13.8% U3O8 at just 64 meters below surface. The results confirm Aero's exploration model, which focuses on basement-hosted deposits within graphitic structures, a common feature in Athabasca Basin uranium deposits like Arrow and Triple R.

"From the launch of the company in January, we took a very diligent yet aggressive approach to discovery," stated Galen McNamara, CEO of Aero Energy. "The combination of historical data and the results from the first drill program serve as evidence that basement-hosted mineralization akin to the large deposits beneath and adjacent to the Athabasca Basin is present in the area."

The Murmac project spans 25,607 acres and holds a production legacy of approximately 70 million pounds of U3O8. Similarly, the 48,443-acre Sun Dog property hosts the historic Gunnar uranium mine, which once held the title of the world's largest uranium producer. Past exploration focused on fault-hosted mineralization, missing the basement-hosted uranium potential that Aero's recent findings have validated.

Recent exploration efforts included a VTEM Plus survey, flown over 3,350 kilometers, identifying graphite-rich rocks that support Aero's exploration thesis. Additionally, two new occurrences of strong radioactivity were identified at surface-level scout locations: Target A15 showed 60,793 counts per second, and Target P4 displayed 13,533 counts per second. Summer 2024 drilling included 1,550 meters at Murmac and 1,600 meters at Sun Dog, highlighting shallow, high-grade potential in both areas.

In parallel, Aero Energy has announced a CA$2.5 million non-brokered private placement to support further exploration. The proceeds from flow-through units will fund work programs across Murmac, Sun Dog, and the Strike property, with the remaining funds allocated to general working capital.

Why Uranium?

The uranium sector has recently experienced strong growth, largely driven by increasing global demand and efforts to diversify from Russian supply chains. On September 30, The New York Times discussed the resurgence in Western uranium production, highlighting that "uranium mines are ramping up across the West, spurred by rising demand for electricity and federal efforts to cut Russia out of the supply chain." Aero Energy's recent discoveries and forthcoming winter drilling plans at Murmac and Sun Dog reflect this trend, with CEO Galen McNamara remarking, "The combination of historical data and the results from the first drill program serve as evidence that basement-hosted mineralization . . . is present in the area," suggesting strong potential for the Canadian uranium market to contribute to non-Russian nuclear fuel supplies.

Jeff Clark of The Gold Advisor highlighted his continued confidence in the company by stating, "I remain overweight the stock."

On October 9, Reuters reported that demand from U.S. buyers has been on the rise, as "a strong rise in demand from its U.S. customers" pushed Orano's recent plans to expand uranium enrichment in the United States and France. This shift underscores Aero Energy's recent investments in Northern Saskatchewan, where the company has identified high-grade uranium mineralization in both the Murmac and Sun Dog projects, aiming to meet future supply demands with a focus on basement-hosted deposits.

As Forbes reported on October 11, the uranium market experienced renewed momentum after Russian President Vladimir Putin hinted at the possibility of a ban on uranium exports to Western nations. This suggestion "jolted the uranium market," which had been declining after peaking earlier in the year. The price of uranium rebounded to US$83.50 per pound, reflecting rising concerns about potential supply disruptions. Citi analysts noted that “Russia supplies close to 12% of U3O8, 25% of UF6, and 35% of EUP to international markets,” underscoring the challenges that Western nations, particularly the U.S. and Europe, could face in replacing these critical materials. This market dynamic positions uranium companies operating outside of Russia, like those in the Athabasca Basin, to benefit from supply gaps and heightened demand.

MSN reported on October 13 that the UK's nuclear power capacity is set to decrease dramatically in the coming years, with the planned closure of four out of five remaining nuclear plants by 2028. This reduction in capacity is expected to increase pressure on global uranium supplies as demand for nuclear energy continues to rise amid efforts to meet climate goals. The ongoing shift toward low-carbon energy sources, coupled with the planned closures, could create further supply constraints and drive demand for uranium from alternative sources.

Aero's Catalysts

According to the company's October 2024 investor presentation, the ongoing development at Murmac and Sun Dog highlights Aero Energy's strategy to enhance shareholder value by targeting high-grade uranium deposits in underexplored regions. Aero has leveraged recent technology investments, including VTEM Plus aerial surveys, which identified graphite-rich formations favorable for uranium. The exploration efforts build on the CA$7.6 million previously invested by project partners Fortune Bay and Standard Uranium, which has contributed to refining the drill targets. As Aero works with its partners to maximize the impact of this winter's drilling program, the company's strategic location on the north rim of the Athabasca Basin positions it well to expand these discoveries and attract continued investor interest.

The recently announced CA$2.5 million private placement will further strengthen Aero's financial capacity to carry out its targeted drill campaigns and exploration work.

Analyzing Aero

Jeff Clark of The Gold Advisor, in his October 17 update, noted that Aero Energy has "identified more than 70 kilometers of strike to test for high-grade basement-hosted uranium," emphasizing the company's significant exploration potential in a region known for some of the world's richest uranium deposits.

Clark further commented on Aero Energy's recent results, underscoring the importance of drill hole M24-017, which intersected 8.4 meters of uranium mineralization, grading 0.3% U3O8, with assays reaching as high as 13.8% U3O8. He stated, "While not a discovery hole, per se, this hole underscores the company's thesis that these two projects are prospective for the same type of uranium mineralization as Arrow and Triple R." This observation reinforces Aero Energy's exploration model, which targets basement-hosted uranium deposits similar to those found at other significant Athabasca Basin discoveries. [OWNERSHIP_CHART-11173]

Additionally, Clark expressed optimism regarding Aero Energy's current valuation and future prospects, recommending it as a strong buy at current levels. He highlighted his continued confidence in the company by stating, "I remain overweight the stock," suggesting that Aero Energy presents a compelling opportunity for speculative investors in the uranium exploration space.

The recently announced CA$2.5 million private placement was also acknowledged by Clark as a necessary step to fund further exploration activities. While he expressed some caution about potential dilution, he affirmed his overall support for the financing, noting that "its projects are very much worthy of follow-up."

Ownership and Share Structure

According to Refinitiv, management and insiders own 3.11% of Aero Energy. Of those, CEO Galen McNamara has the most at 2.97%. Institutions owns 4.79% with MMCAP Asset Management holding 3.89%. The rest is retail.

Aero has 92.3 million free float shares and a market cap of CA$4.5 million. The 52 week range is CA$0.040–$0.26.

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Important Disclosures:

1) James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.

2) This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: AERO:TSXV;AAUGF:OTC;UU3:FRA, )




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Neil deGrasse Tyson shares his top 3 StarTalk guests

L-R Access Hollywood film critic Scott Mantz moderates a talk by Neil deGrasse Tyson at the Aero Theatre in Santa Monica, June 9, 2017. Courtesy of the American Cinematheque; Credit: Robert Enger

Chris Greenspon | Off-Ramp®

Neil deGrasse Tyson came onto the science-themed, late night talk show circuit with some clout. The "Cosmos" host, author, educator, and Hayden Planetarium director's first guest when StarTalk "jumped species" from podcast to television was Whoopi Goldberg. 

On Friday June 9, 2017, Tyson opened up a screening of "Star Trek II: The Wrath of Khan" at the American Cinematheque's Aero Theatre in Santa Monica with a talk on his career as an astrophysicist-turned-broadcaster. Access Hollywood's film critic, Scott Mantz, moderated the event and asked Tyson for his three favorite StarTalk guests.

1. Nichelle Nichols

While StarTalk was still just a podcast, Nichols appeared on StarTalk twice. Tyson learned that Star Trek had been a holdover gig for Nichols while paying her dues to land dancing parts on Broadway. Tyson didn't think being Lieutenant Uhura was anything to sneeze at. "She is actually in the chain of command to be captain of the ship," remarked Tyson.

Early on into the series, Nichols decided it was time to go back to New York and find her dream job, Tyson said. However, before leaving she attended a party where she bumped into Dr. Martin Luther King Jr. 

"And he says, 'Oh, my children! We line up at night, and you make us all proud.' And she said, 'Oh, thank you, but I'm going back to New York,' and he said, 'You can't do that. There are no other black people on television. Much less, what there are, they're not in any kind of role of responsibility, and integrity, and dignity.' And he convinced her to stay with the series." - Neil deGrasse Tyson

Tyson teared up, searched for tissues, and said he opened up a bottle of wine at eleven in the morning during the taping with Nichols. "And then, I think it was only one and a half glasses of wine," Tyson said, before he asked Nichols about her and William Shatner's interracial kiss on Star Trek, one of the first interracial kisses on television. Tyson said Nichols told him that the producers of the show wanted to film a version of the scene without the kiss, but that she and Shatner purposefully kept messing up the non-kiss until they ran out of filming time so that the editors of the show wouldn't have any such scene to work with.

Nichols then asked Tyson if he wanted to see what a "racial kiss" was, and then she kissed him.

Tyson also recognized Nichols for her role in recruiting women and people of color for NASA space missions from engineering schools across the United States. Tyson said Nichols was able to find these recruits by looking where NASA had not been looking.

"You were only looking at the U.S. Naval Academy and not Tuskegee Institute where they have a huge engineering group. So she laid out this recipe, and that first astronaut class: it had black people, it had Asians, it had women. And they were at the top of their class when they came out of college and graduate school, so she shaped the modern view of NASA."

2. Biz Stone

"The name doesn't even sound real," said Tyson, referring to the co-founder of Twitter. Tyson counts Stone among the great entrepreneurs who never finished college: Bill Gates, Michael Dell, Mark Zuckerberg.

"Until he described how he envisioned Twitter, I had not fully appreciated what it was," said Tyson. Stone asked Tyson if he had ever seen birds suddenly take flight and flock together after behaving independently, and then, just as swiftly as they started, return to their posts and be "individuals again."

"Twitter is a flocking mechanism for humans," Tyson said. "I live near Ground Zero in New York City," Tyson recalled what could be described as a Twitter moment from 2011. "I'm watching TV, all of a sudden I heard noises in the street. Crowds were developing. I said, 'What's going on?'" While Tyson was sitting in his home, it had been announced that Osama Bin Laden had been killed.

Tyson got on the internet and read the news. "I missed all that, but all these people got the tweet, and everyone gathered back at Ground Zero." That realization of the nature of social media made Biz Stone Tyson's number two guest.

3. Kareem Abdul-Jabbar

Jabbar's appearance on StarTalk is from the upcoming season, so Tyson did not want to reveal the topics of the episode, but he could not resist including Jabbar because of his numerous qualifications.

  • He has written a novel about Sherlock Holmes' older brother, Mycroft Holmes (which Jabbar talked with Off-Ramp about in 2015)
  • He had a column in Time Magazine
  • His high scores on Celebrity Jeopardy
  • He's the highest scorer ever for the NBA, with 38,387 career points (Kobe Bryan is third with 33,643 points)
  • He played in the All-Star Game 19 times out of his 20 NBA seasons
  • He has six NBA Championship rings
  • And he was in "Airplane!" and Bruce Lee's "Game of Death"

Tyson gives us one giveaway though, from Jabbar's interview. The one film role that Jabbar is disappointed about never being cast in was Chewbacca in "Star Wars."

Neil deGrasse Tyson's new book is Astrophysics for People in a Hurry. Thanks to him and the American Cinematheque for allowing us to excerpt their presentation on Off-Ramp.

 

This content is from Southern California Public Radio. View the original story at SCPR.org.




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Interview in the mausoleum with relics expert Elizabeth Harper

Elizabeth Harper, a relics expert, at Mountain View Cemetery in Altadena; Credit: John Rabe

John Rabe | Off-Ramp®

"Reach a certain moment in your life, and you discover that your days are spent as much with the dead as they are with the living." – Paul Auster

This has been one of my favorite quotes for a long time. To me it means that when you get older and your friends, relatives, and heroes start dying, you have a choice. You can either stop thinking about them because they're dead, giving up, as it were, the pleasure of their company; or you can keep them in your life. To me, that's not denial; it's being realistic.

So, it makes sense that I felt a kindred spirit with Elizabeth Harper, who keeps the website All the Saints You Should Know, when we met at a beautiful mausoleum at Mountain View Cemetery in Altadena to talk about the history of cemeteries, relics, castrated Italian avuncular mummies, and the best spots in Los Angeles to commune healthily with death.

Elizabeth will be part of the team when Atlas Obscura leads tours of The Cathedral of Our Lady of the Angels on Saturday, July 1. It's billed as "A celebration of life, death, architecture, and the patron saint of Los Angeles."

Here are some highlights of my mausoleum conversation with Elizabeth Harper:

At first glance, she says, all of the tombs are very similar.

And that was one of the things, when we started making modern cemeteries, outside the city lines, they wanted them to be regular and not so expressive and macabre. But people leave little things behind. On a lot of these (crypts), you can see a little emblem of something that was important to them. If they were a Mason or if they served in the Army. I like the (cremains) urns that are shaped like books. I have a friend who is a librarian and she was very taken with the idea of being in a book.

Napoleon instituted the Edict of Saint-Cloud, which mandated that cemeteries must be outside city limits (for health reasons) and must be toned-down (for no good reason).

People did not like the edict. There's a very famous poem called Sepulchers by Ugo Foscolo that was written in protest, that said, essentially, looking upon the graves of strong men strengthens the mind and the spirit.

From Slate: Photographing the Real Bodies of Incorrupt Saints, by Elizabeth Harper

Elizabeth often writes about cemeteries and tombs and sometimes posts photos of bodies, which causes a "certain segment" to assume she has no experience with death, or she wouldn't presume to do such a thing.

What I want to put out there is that we have this pervasive idea that we grieve and move on, and this moving on is very important, and I think there are multiple ways to incorporate the idea of death in your life, to get used to the idea, without forgetting, that's more of a way of memorializing. When I take these pictures, I'm very aware that these are real people, and I think of myself, what I will be one day, and people I love, who are already there.

Make sure to listen to our entire interview in the audio player to hear Elizabeth's 3 top spots in Los Angeles to consider the place of death in our lives, and to hear about poor old Uncle Vincent, a neutered naked mummy in a small town in Italy who has a large fan base.

 

This content is from Southern California Public Radio. View the original story at SCPR.org.




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Benmont Tench - of Tom Petty and the Heartbreakers - says goodbye to John with the most Off-Rampy song ever

; Credit: John Rabe/KPCC

John Rabe | Off-Ramp®

Off-Ramp fan, KPCC member (!), and Tom Petty and Heartbreakers keyboardist Benmont Tench III joined John in his old Mercedes with his large, but portable Casio.

Tench has lived in the hills of Tarzana for decades, in a perfectly good house, but in the 100-degree heat, John outfitted his car with condenser mikes to record a farewell ode to Off-Ramp, Tench's "Like the Sun."

The full band version of Benmont Tench III's "Like the Sun"

"Like the Sun" helped Tench get back in the songwriting groove a decade ago after he burnt out on being professional songwriter in Nashville. He based the lyrics on tours of Los Angeles given to him by a friend, and takes the listener (with his Southern accent) from a restaurant called Michoacan to a hill top tent city. Tench also told John how he and his wife Alice explore Los Angeles.

 

This content is from Southern California Public Radio. View the original story at SCPR.org.




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Virtual 'UniverseMachine' sheds light on galaxy evolution

Full Text:

How do galaxies such as our Milky Way come into existence? How do they grow and change over time? The science behind galaxy formation has long been a puzzle, but a University of Arizona-led team of scientists is one step closer to finding answers, thanks to supercomputer simulations. Observing real galaxies in space can only provide snapshots in time, so researchers who study how galaxies evolve over billions of years need to use computer simulations. Traditionally, astronomers have used simulations to invent theories of galaxy formation and test them, but they have had to proceed one galaxy at a time. Peter Behroozi of the university's Steward Observatory and colleagues overcame this hurdle by generating millions of different universes on a supercomputer, each according to different physical theories for how galaxies form. The findings challenge fundamental ideas about the role dark matter plays in galaxy formation, the evolution of galaxies over time and the birth of stars. The study is the first to create self-consistent universes that are exact replicas of the real ones -- computer simulations that each represent a sizeable chunk of the actual cosmos, containing 12 million galaxies and spanning the time from 400 million years after the Big Bang to the present day. The results from the "UniverseMachine," as the authors call their approach, have helped resolve the long-standing paradox of why galaxies cease to form new stars even when they retain plenty of hydrogen gas, the raw material from which stars are forged. The research is partially funded by NSF's Division of Physics through grants to UC Santa Barbara's Kavli Institute for Theoretical Physics and the Aspen Center for Physics.

Image credit: NASA/ESA/J. Lotz and the HFF Team/STScI




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Adyen supports Tap-to-Pay on iPhone in more European markets

Global financial platform Adyen has announced that it enabled...




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TD Bank Group partners with TouchBistro

Canada-based financial institution TD Bank Group (TD) has...




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Félix Pago partners with Mastercard to expand digital remittances

US-based fintech Felix Pago has announced a partnership...




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SEB Embedded partners with Thought Machine

SEB Embedded has selected Thought Machine’s cloud-native core banking system, Vault Core, as the foundation for its latest service offering.




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TransferTo partners with Ecobank Group to expand financial access across Africa

Singapore-based TransferTo has partnered with the Pan-African Ecobank Group in order to expand financial access and cross-border payments across the region of Africa.





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Redheffer, Mertens and One-Million Dollars

I didn't know anything about these topics until a couple of weeks ago. Now I can't stop thinking about them.... read more >>





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Redheffer and Mertens, Accelerated

Shortly after I published the second post about the Mertens conjecture, a reader's comment suggested a new approach to computing Redheffer determinants and the Mertens function. It is now possible to compute a half-million values of the Mertens function in about five hours.... read more >>





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PEA on Gold Project in Quebec Due Out This Quarter

Source: Bryce Adams 11/04/2024

The takeout potential for the company's shares is expected to increase over the next two years as derisking continues, noted a CIBC report.

O3 Mining Inc. (TSXV:OIII; OTCQX:OIIIF) updated the timeline for its flagship Marban Alliance gold project in Quebec and closed a small equity financing, reported CIBC analyst Bryce Adams in an Oct. 30 research note.

"With the updated shareholder register and continued derisking of Marban, we expect that the takeout potential for O3 shares increases within the next two years," Adams wrote.

O3 Mining is the third iteration of the successful Osisko Mining Inc. (OSK:TSX) model, focused on acquiring, exploring and developing mineral properties in Canada.

168% Return Implied

The Canadian company was trading at the time of the report at about CA$1.12 per share, and CIBC's target price on it is CA$3 per share, noted Adams. These figures reflect a potential return for investors of 168%.

O3 Mining has an Outperformer rating.

PEA Coming this Quarter

Adams presented O3's timeline for Marban Alliance and noted it aligns with CIBC's projections. The next step is completion of a preliminary economic assessment (PEA), slated for Q4/24, "which we expect will be reported on a standalone basis, with upside from potential toll milling agreements," the analyst wrote. G Mining Services now is the lead consultant on the PEA.

Next, a feasibility study will be done based on the PEA and the 2022 prefeasibility study. Targeted dates are Q1/25 to start it and Q2/25 to finish it.

Also in Q1/25, baseline environmental studies are slated for completion. Impact studies are to be started in Q2/25, and filing is slated for Q1/26.

More Strategic Investments

O3 Mining completed a non-brokered private placement of CA$1.4 million with Sidex LP and NQ Investissement Minier, two mining investment funds sponsored by the Quebec government, reported Adams. Subsequently, O3 closed a follow-up offering of US$76,800 to the company's strategic investor at the same terms.

"We view these as smaller issuances, and after model updates, our net asset value per share estimate is now one penny lower at CA$4.48 per share," Adams wrote.

O3 Mining will use the proceeds to drill at Kinebik, where it continues to consolidate land. This project shares the same formation as Hecla Mining Co.'s (HL:NYSE) Casa Berardi mine and Gold Fields Ltd.'s (GFI:NYSE; GFI:JSE) Windfall project.

Takeout Target Potential

Through its acquisition of Osisko, Gold Fields gained 100% ownership of Windfall (it previously had acquired 50% from Osisko in 2023) and 17% of O3 Mining, Adams pointed out. Gold Fields also unsuccessfully made a bid for Yamana Gold Inc.'s (YRI:TSX; AUY:NYSE; YAU:LSE) interests in the Canadian Malartic mine in Quebec earlier in 2023 and "has indicated further growth interest in Quebec."

"With Measured and Indicated resources of 2,400,000 ounces (2.4 Moz) and Inferred resources of 0.6 Moz at its flagship Marban project and near-term final permitting submission, O3 has above average takeout potential," purported Adams.

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  3. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

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Hospitals Have Started Posting Their Prices Online. Here's What They Reveal

Many hospitals around the country, including Medstar Washington Hospital in Washington DC., have started sharing their prices online in compliance with a recent federal rule.; Credit: DANIEL SLIM/AFP via Getty Images

Julie Appleby | NPR

A colonoscopy might cost you or your insurer a few hundred dollars — or several thousand, depending on which hospital or insurer you use.

Long hidden, such price variations are supposed to be available in stark black and white under a Trump administration price transparency rule that took effect at the start of this year. It requires hospitals to post a range of actual prices — everything from the rates they offer cash-paying customers to costs negotiated with insurers.

Many have complied.

But some hospitals bury the data deep on their websites or have not included all the categories of prices required, according to industry analysts. A sizable minority of hospitals have not disclosed the information at all.

While imperfect and potentially of limited use right now to the average consumer, the disclosures that are available illustrate the huge differences in prices — nationally, regionally and within the same hospital. But they're challenging for consumers and employers to use, giving a boost to a cottage industry that analyzes the data.

While it's still an unanswered question whether price transparency will lead to overall lower prices, KHN took a dive into the initial trove of data to see what it reveals. Here are five takeaways from the newly public data and tips for how you might be able to use it to your benefit

1) As expected, prices are all over the map

The idea behind the requirement to release prices is that the transparency may prompt consumers to shop around, weighing cost and quality. Perhaps they could save a few hundred dollars by getting their surgery or imaging test across town instead of at the nearby clinic or hospital.

Under the Trump-era rule, hospitals must post what they accept from all insurers for thousands of line items, including each drug, procedure or treatment they provide. In addition, hospitals must present this in a format easily readable by computers and include a consumer-friendly separate listing of 300 "shoppable" services, bundling the full price a hospital accepts for a given treatment, such as having a baby or getting a hip replacement.

The negotiated rates now being posted publicly often show an individual hospital accepting a wide range of prices for the same service, depending on the insurer, often based on how much negotiating power each has in a market.

In some cases, the cash-only price is less than what insurers pay. And prices may vary widely within the same city or region.

In Virginia, for example, the average price of a diagnostic colonoscopy is $2,763, but the range across the state is from $208 to $10,563, according to a database aggregated by San Diego-based Turquoise Health, one of the new firms looking to market the data to businesses, while offering some information free of charge to patients.

2) Patients can look up the information, but it's incomplete

Patients can try to find the price information themselves by searching hospital websites, but even locating the correct tab on a hospital's website is tricky.

Typically, consumers don't comparison-shop, preferring to choose convenience or the provider their doctor recommends. A recent Peterson-KFF Health System Tracker brief, for instance, found that 85% of adults said they had not researched online the price of a hospital treatment.

And hospitals say the transparency push alone won't help consumers much, because each patient's situation is different and may vary from the average— and individual deductibles and insurance plans complicate matters.

But if you do want to try, here's one tip: "You can Google the hospital name and the words 'price transparency' and see where that takes you," says Caitlin Sheetz, director and head of analytics at the consulting firm ADVI Health in the Washington, D.C., metro area.

Typing in "MedStar Health hospital transparency," for example, likely points to the MedStar Washington Hospital Center's "price transparency disclosure" page, with a link to its full list of prices, as well as its separate list of 300 shoppable services.

By clicking on the list of shoppable services, consumers can download an Excel file. Searching it for "colonoscopy" pulls up several variations of the procedure, along with prices for different insurers, such as Aetna and Cigna, but a "not available" designation for the cash-only price. The file explains that MedStar does not have a standard cash price but makes determinations case by case.

Performing the same Google search for the nearby Inova health system results in less useful information.

Inova's website links to a long list of thousands of charges, which are not the discounts negotiated by insurers, and the list is not easily searchable. The website advises those who are not Inova patients or who would like to create their own estimate to log into the hospitals' "My Chart" system, but a search on that for "colonoscopy" failed to produce any data.

3) Third-party firms are trying to make searching prices simpler – and cash in

Because of the difficulty of navigating these websites — or locating the negotiated prices once there — some consumers may turn to sites like Turquoise. Another such firm is Health Cost Labs, which will have pricing information for 2,300 hospitals in its database when it goes live July 1.

Doing a similar search for "colonoscopy" on Turquoise shows the prices at MedStar by insurer, but the process is still complicated. First, a consumer must select the "health system" button from the website's menu of options, click on "surgical procedures," then click again on "digestive" to get to it.

There is no similar information for Inova because the hospital has not yet made its data accessible in a computer-friendly format, said Chris Severn, CEO of Turquoise.

Inova spokesperson Tracy Connell said in a written statement that the health system will create personalized estimates for patients and is "currently working to post information on negotiated prices and discounts on services."

Firms like Turquoise and Health Cost Labs aim to sell the data gathered from hospitals nationally to insurers, employers and others. In turn, those groups may use it in negotiations with hospitals over future prices. While that may drive down prices in areas with a lot of competition, it might do the opposite where there are few hospitals to choose from, or in situations where a hospital raises its prices to match competitors.

4) Consumers could use this data to negotiate, especially if they're paying cash

For consumers who go the distance and can find price data from their hospitals, it may prove helpful in certain situations:

  • Patients who are paying cash or who have unmet deductibles may want to compare prices among hospitals to see if driving farther could save them money.
  • Uninsured patients could ask the hospital for the cash price or attempt to negotiate for the lowest amount the facility accepts from insurers.
  • Insured patients who get a bill for out-of-network care may find the information helpful because it could empower them to negotiate a discount off the hospitals' gross charges for that care.

While there's no guarantee of success, "if you are uninsured or out of network, you could point to some of those prices and say, 'That's what I want,'" says Barak Richman, a contract law expert and professor of law at Duke University School of Law.

But the data may not help insured patients who notice their prices are higher than those negotiated by other insurers.

In those cases, legal experts say the insured patients are unlikely to get a bill changed because they have a contract with that insurer, which has negotiated the price with their contracted hospitals.

"Legally, a contract is a contract," says Mark Hall, a health law professor at Wake Forest University.

Richman agrees.

"You can't say, 'Well, you charged that person less,'" he notes, but neither can they say they'll charge you more.

Getting the data, however, relies on the hospital having posted it.

5) Hospitals still aren't really on board

When it comes to compliance, "we're seeing the range of the spectrum," says Jeffrey Leibach, a partner at the consulting firm Guidehouse, which found earlier this year that about 60% of 1,000 hospitals surveyed had posted at least some data, but 30% had reported nothing at all.

Many in the hospital industry have long fought transparency efforts, even filing a lawsuit seeking to block the new rule. The suit was dismissed by a federal judge last year.

They argue the rule is unclear and overly burdensome. Additionally, hospitals haven't wanted their prices exposed, knowing that competitors might then adjust theirs, or health plans could demand lower rates. Conversely, lower-cost hospitals might decide to raise prices to match competitors.

The rule stems from requirements in the Affordable Care Act. The Obama administration required hospitals to post their chargemaster rates, which are less useful because they are generally inflated, hospital-set amounts that are almost never what is actually paid.

Insurers and hospitals are also bracing for next year when even more data is set to come online. Insurers will be required to post negotiated prices for medical care across a broader range of facilities, including clinics and doctors' offices.

In May, the Centers for Medicare & Medicaid Services sent letters to some of the hospitals that have not complied, giving them 90 days to do so or potentially face penalties, including a $300-a-day fine.

"A lot of members say until hospitals are fully compliant, our ability to use the data is limited," says Shawn Gremminger, director of health policy at the Purchaser Business Group on Health, a coalition of large employers.

His group and others have called for increasing the penalty for noncomplying hospitals from $300 a day to $300 a bed per day, so "the fine would be bigger as the hospital gets bigger," Gremminger says. "That's the kind of thing they take seriously."

Already, though, employers or insurers are eyeing the hospital data as leverage in negotiations, says Severn, Turquoise's CEO. Conversely, some employers may use it to fire their insurers if the rates they're paying are substantially more than those agreed to by other carriers.

"It will piss off anyone who is overpaying for health care, which happens for various reasons," he says.

KHN (Kaiser Health News) is a national newsroom that produces in-depth journalism about health issues. Together with Policy Analysis and Polling, KHN is one of the three major operating programs at KFF (Kaiser Family Foundation).

Copyright 2021 Kaiser Health News. To see more, visit Kaiser Health News.

This content is from Southern California Public Radio. View the original story at SCPR.org.




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New Report Finds Major US Metro Areas, Greater Los Angeles Among Them, Are More Segregated Now Than 30 Years Ago

People rest while riding a Los Angeles Metro Rail train amid the coronavirus pandemic on April 1, 2020 in Los Angeles, California.; Credit: Mario Tama/Getty Images

AirTalk

Despite the racial reckoning going on in America right now, and despite the fact that attitudes towards race, inclusion and representation are different now than they were 30 years ago, new research from UC Berkeley shows that a large majority of American metro areas are more segregated now than they were in 1990. The new report from Berkeley’s Institute covers a number of topic areas, but among the key findings were from the national segregation report component of the project, which found Los Angeles to be the sixth-most segregated metro area with more than 200,000 people.

Today on AirTalk, we’ll talk with the lead researcher on the new report and a local historian to talk about how we see the findings of the report play out in Southern California.

Guests:

Stephen Menendian, assistant director and director of research at the Othering & Belonging Institute at UC Berkeley, which works to identify and eliminate the barriers to an inclusive, just, and sustainable society in order to create transformative change; he tweets @SMenendian

Eric Avila, professor of history, urban planning, and Chicano/a studies at UCLA

This content is from Southern California Public Radio. View the original story at SCPR.org.




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How And Why Was Bill Cosby’s Sex Assault Conviction Overturned?

Bill Cosby exits the Montgomery County Courthouse in Norristown, Pa., Saturday, June 17, 2017. ; Credit: Matt Rourke/AP

AirTalk

Pennsylvania’s highest court overturned. Bill Cosby’s sex assault conviction Wednesday after finding an agreement with a previous prosecutor prevented him from being charged in the case.

Cosby has served more than two years of a three- to 10-year sentence at a state prison near Philadelphia. He had vowed to serve all 10 years rather than acknowledge any remorse over the 2004 encounter with accuser Andrea Constand.

We dive into how this all happened, through the lens of law, celebrity and the MeToo movement. 

With files from the Associated Press

Guests: 

Ambrosio Rodriguez, former prosecutor; he is currently a criminal defense attorney at The Rodriguez Law Group in Los Angeles; he led the sex crimes team and was in the homicide unit in the Riverside D.A.’s office; he tweets at @aer_attorney

Laurie L. Levenson, professor of criminal law at Loyola Law School in Los Angeles and former federal prosecutor

This content is from Southern California Public Radio. View the original story at SCPR.org.




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The Supreme Court’s Final Rulings Of The Spring 2021 Term, Plus A Retrospective On Some Of Its Biggest Cases

The US Supreme Court is seen in Washington, DC on July 1, 2021.; Credit: MANDEL NGAN/AFP via Getty Images

AirTalk

The U.S. Supreme Court ends its spring term today with two final decisions expected to come down, one involving a pivotal voting rights case out of Arizona and the other involving so-called “dark money” and campaign finance. 

Today on AirTalk, we’ll get a summary of the arguments that each side in the two cases will be making, and we’ll look back on the Spring 2021 term overall, as the nine justices will break until the fall.

Guests:

Vikram Amar, dean and professor of law at the University of Illinois College of Law

David Becker, executive director and founder of the Center for Election Innovation and Research, a nonpartisan, non-profit organization that works with election officials around the country to ensure convenient and secure voting for all voters; he is the former director of the elections program at The Pew Charitable Trusts and a former senior trial attorney in the Voting Section of the Department of Justice’s Civil Rights Division; he tweets @beckerdavidj

This content is from Southern California Public Radio. View the original story at SCPR.org.




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Marathons, Triathlons And More: What Motivates Us To Undertake Physical Feats?

Athletes compete during the cycling portion of the IRONMAN 70.3 Steelhead on June 27, 2021 in Benton Harbor, Michigan. ; Credit: Patrick McDermott/Getty Images for IRONMAN

AirTalk

Whether you’re new to running or you’ve finished your tenth triathlon, we want to hear from you about what motivates you and how that translates into pushing yourself physically. 

Guests: 

Mark Remy, longtime runner and writer in Portland, Oregon; creator of humor website dumbrunner.com; he is the author of many books, including The Runner's Rule Book: Everything a Runner Needs to Know--And Then Some (Runner's World) (Rodale Books, 2009)

Sharon McNary, infrastructure correspondent at KPCC; she finished her 11th Ironman Race last week at Coeur d’Alene; she tweets @KPCCsharon

This content is from Southern California Public Radio. View the original story at SCPR.org.




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USGS Releases New Topographic Maps for Puerto Rico and the U.S. Virgin Islands - Updated Maps for Essential Needs

The USGS is pleased to announce the release of new US Topo maps for Puerto Rico and the U.S. Virgin Islands. These updated topographic maps offer valuable, current geographic information for residents, visitors, and professionals, providing essential resources for communities in these areas.




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NASA Partners with the Alaska CASC and Others to Make NASA Climate Data Tools More Accessible to Tribal and Indigenous Communities

NASA released a workshop report on the UNBOUND-FEW workshop series, which was facilitated in part by Tribal Resilience Learning Network staff from the Alaska CASC. The workshop report reveals key recommendations for making data tools more useful for climate adaptation planning.




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FORT Economist James Meldrum and the Wildfire Research Team win the 2024 CO-LABS Governor’s Awards for High Impact Research: Pathfinding Partnerships Award

The Pathfinding Partnerships Award from CO-LABS recognizes impactful, collaborative research projects organized by four or more research entities, including federal labs, in Colorado. This year, the Wildfire Research (WiRē) team received this award for their support of evidence-based community wildfire education to help communities live with wildfire. 




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Artificial Light at Night: Update From the Field!

Western Fisheries Research Center scientists are studying the impacts of increased artificial light at night (ALAN) on aquatic ecosystems.  Here's an overview with recent pictures from the field!




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Volcano Watch — The Art and Science of Geologic Mapping

Geologic mapping has been one of the most fundamental mandates of the U.S. Geological Survey (USGS) since its establishment in 1879. Congress created the USGS to "classify the public lands and examine the geological structure, mineral resources, and products within and outside the national domain."




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Lawmakers Reach A Bipartisan Agreement On Police Reform

Alana Wise | NPR

Updated June 24, 2021 at 8:46 PM ET

Lawmakers in Washington, D.C., have reached a preliminary, bipartisan agreement on police reform after months of closely watched debate on the topic.

Sens. Tim Scott, R-S.C., and Cory Booker, D-N.J., and Rep. Karen Bass, D-Calif., announced the agreement on Thursday evening.

"After months of working in good faith, we have reached an agreement on a framework addressing the major issues for bipartisan police reform," the lawmakers said in a joint statement.

"There is still more work to be done on the final bill, and nothing is agreed to until everything is agreed to. Over the next few weeks we look forward to continuing our work toward getting a finalized proposal across the finish line."

The exact details of the plan were not immediately clear.

The issue of reforming qualified immunity, to make it easier to sue police officers over allegations of brutality, had been a sticking point in negotiations. The police use of chokeholds was another debated provision.

The effort to reform U.S. policing comes after several years of increasing pressure to better understand and regulate the way officers interact with the communities they patrol.

The high-profile deaths of several Black people — many unarmed — at the hands of police — who have in some notable instances been white — have been the catalyst for the police reform movement.

The Democratic-led House had approved the George Floyd Justice in Policing Act — named after one of those Black people killed by police — in early March, and President Biden had hoped Congress would pass the reform effort by the first anniversary of Floyd's death in late May.

But Bass had said then that getting "a substantive piece of legislation" is "far more important than a specific date."

Floyd's murderer, former Minneapolis police officer Derek Chauvin, is set to be sentenced to prison on Friday.

White House press secretary Jen Psaki said in a statement Thursday that Biden "is grateful to Rep. Bass, Sen. Booker, and Sen. Scott for all of their hard work on police reform, and he looks forward to collaborating with them on the path ahead."

The topic of police reform has divided the nation across party lines, with progressives accusing the right of seeking to maintain an antiquated and all-too-powerful law enforcement apparatus. Conservatives say the left has blamed the actions of some officers on the institution itself, turning the topic of police support and "blue lives" into more ammunition for the ongoing culture war.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

This content is from Southern California Public Radio. View the original story at SCPR.org.




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In Suing Georgia, Justice Department Says State's New Voting Law Targets Black Voters

Assistant Attorney General Kristen Clarke for the Justice Department's Civil Rights Division speaks during a news conference Friday announcing a lawsuit against the state of Georgia for its new voting law. Attorney General Merrick Garland is at right.; Credit: Jim Watson/AFP via Getty Images

Barbara Sprunt | NPR

Updated June 25, 2021 at 12:54 PM ET

Attorney General Merrick Garland announced Friday that the U.S. Justice Department is suing the state of Georgia over its new voting law, saying that the controversial measure is intended to restrict ballot access to Black voters.

"Our complaint alleges that recent changes to Georgia's election laws were enacted with the purpose of denying or abridging the right of Black Georgians to vote on account of their race or color, in violation of Section 2 of the Voting Rights Act," Garland said at a news conference.

The lawsuit marks the first major action from the Biden administration to combat a series of new restrictive voting measures passed by Republican-led state legislatures. And it came on the eighth anniversary of the U.S. Supreme Court decision to gut another key provision of the landmark Voting Rights Act, Section 5.

Garland noted that Georgia experienced record voter turnout and participation in the 2020 election cycle.

In March, Georgia Gov. Brian Kemp, a Republican, signed Senate Bill 202, a 98-page omnibus measure that makes sweeping changes to the state's absentee voting rules, adds new voter identification mandates and nearly cuts in half the amount of time for voters to request a mail-in ballot. It also expands early voting access for most counties and formally codifies Sunday voting hours as optional.

The legislation outlaws passing out food or drinks to voters within 150 feet of a polling place or too close to voters waiting in line, a provision that Assistant Attorney General Kristen Clarke, who heads the department's Civil Rights Division, highlighted at the press conference.

"Historically, minority voters in Georgia have been disproportionately more likely to wait in long lines to vote in person on Election Day," she said. "Given those long and protracted wait times, civic groups, including churches, have at times provided food and water to voters in line to make their wait more comfortable. As we allege in our complaint, this needless ban was passed with unlawful discriminatory intent."

Clarke also said the Georgia Legislature passed the bill through "a rushed process that departed from normal practice and procedure."

"The version of the bill that passed the state Senate ... was three pages long. Days later, the bill ballooned into over 90 pages in the House. The House held less than two hours of floor debate on the newly inflated SB 202 before Gov. Kemp signed it into law the same day," she said. "These legislative actions occurred at a time when the Black population in Georgia continues to steadily increase, and after a historic election that saw record voter turnout across the state, particularly for absentee voting, which Black voters are now more likely to use than white voters."

Garland said the lawsuit is the first of "many steps" the department is taking to protect the right to vote for all eligible voters. He said the Civil Rights Division will continue to examine voting laws that other states have passed.

"We will not hesitate to act," Garland said.

The Justice Department announced this month it would vigorously defend voting rights. Garland said that the department will double the number of voter enfranchisement lawyers and focus attention on litigation related to voting rights.

In response to the filing, Kemp said the lawsuit is "born out of the lies and misinformation the Biden administration has pushed against Georgia's Election Integrity Act from the start."

"[Biden and his allies] are weaponizing the U.S. Department of Justice to carry out their far-left agenda that undermines election integrity and empowers federal government overreach in our democracy," he said in a statement.

Georgia Secretary of State Brad Raffensperger, another Republican who notably defended the state's administration of the 2020 election, said in a statement he "looks forward to ... beating [the administration] in court."

Garland's announcement comes just days after Senate Republicans united to block Democrats' attempts to pass sweeping voting rights legislation.

Senate Judiciary Chairman Dick Durbin, D-Ill., tweeted his approval of the lawsuit shortly after the announcement Friday.

"If Republicans think the fight for voting rights ended with their filibuster of the For the People Act, they are sorely mistaken," he wrote. "Glad to see the Biden Administration is joining this effort. We must protect our democracy."

The Republican National Committee also linked the failed Senate vote to the Department of Justice's lawsuit.

"After failing to sell the partisan federal election takeover known as H.R. 1 to the American people, Joe Biden is now weaponizing the Justice Department to attack election integrity," RNC Chair Ronna McDaniel said in a statement.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

This content is from Southern California Public Radio. View the original story at SCPR.org.




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The Justice Department Is Pausing Federal Executions After They Resumed Under Trump

Attorney General Merrick Garland ordered a pause on federal executions Thursday while the Justice Department reviews policies and procedures on capital punishment.; Credit: Win McNamee/Getty Images

Alana Wise | NPR

Updated July 1, 2021 at 8:28 PM ET

Attorney General Merrick Garland has imposed a moratorium on scheduling federal executions, the Department of Justice announced on Thursday. The department will review its policies and procedures on capital punishment, following a wave of federal executions carried out under the Trump administration.

In a memo to the Justice Department, Garland justified his decision to halt the deeply controversial practice, citing factors including its capricious application and outsized impact on people of color.

"The Department of Justice must ensure that everyone in the federal criminal justice system is not only afforded the rights guaranteed by the Constitution and laws of the United States, but is also treated fairly and humanely. That obligation has special force in capital cases," Garland said in the memo.

"Serious concerns have been raised about the continued use of the death penalty across the country, including arbitrariness in its application, disparate impact on people of color, and the troubling number of exonerations in capital and other serious cases," he added. "Those weighty concerns deserve careful study and evaluation by lawmakers."

Under former President Donald Trump, the federal government carried out its first executions in a generation last year, with 13 inmates put to death in Trump's final year in office. That included an unprecedented number of federal killings carried out in the last days of his single-term presidency, bucking a nearly century-and-a-half practice of pausing capital punishments during the presidential exchange of power.

Then-Attorney General William Barr said the executions were being carried out in cases of "staggeringly brutal murders." Civil rights activists had rallied to spare the lives of those on death row. Concerns of how humanely the sentences could be carried out, as well as the recent exonerations of a number of death row inmates, were major factors in the demonstrations to cease state-sanctioned killings.

"The Department must take care to scrupulously maintain our commitment to fairness and humane treatment in the administration of existing federal laws governing capital sentences," Garland said in his memo on Thursday.

President Biden, who nominated Garland to the top law enforcement post, opposes capital punishment. During his campaign, Biden pledged to pass legislation to end the federal death penalty.

Some congressional Democrats have been working on such legislation, but no action has been taken. Some progressives and activists opposed to capital punishment had been expressing frustration that they have not seen more movement on the issue from Biden.

"A moratorium on federal executions is one step in the right direction, but it is not enough," said Ruth Friedman, director of the Federal Capital Habeas Project. "We know the federal death penalty system is marred by racial bias, arbitrariness, over-reaching, and grievous mistakes by defense lawyers and prosecutors that make it broken beyond repair."

Friedman said Biden should commute all federal death sentences, warning that a pause alone "will just leave these intractable issues unremedied and pave the way for another unconscionable bloodbath like we saw last year."

Copyright 2021 NPR. To see more, visit https://www.npr.org.

This content is from Southern California Public Radio. View the original story at SCPR.org.




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FilmWeek: ‘A Quiet Place Part II,’ ‘Cruella,’ ‘Moby Doc’ And More

Still of Emily Blunt and Noah Jupe in the film “A Quiet Place Part II.”; Credit: Paramount Pictures

FilmWeek

Larry Mantle and KPCC film critics Lael Loewenstein, Christy Lemire and Charles Solomon review this weekend’s new movie releases on streaming and on demand platforms.

Our FilmWeek critics have been curating personal lists of their favorite TV shows and movies to binge-watch during self-quarantine. You can see recommendations from each of the critics and where you can watch them here.

Guests:

Christy Lemire, film critic for KPCC, RogerEbert.com and co-host of the ‘Breakfast All Day’ podcast; she tweets @christylemire

Lael Loewenstein, film critic for KPCC and film columnist for the Santa Monica Daily Press; she tweets @LAELLO

Charles Solomon, film critic for KPCC, Animation Scoop and Animation Magazine

This content is from Southern California Public Radio. View the original story at SCPR.org.




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FilmWeek: ‘The Boss Baby: Family Business,’ ‘Long Story Short,’ ‘No Sudden Movement,’ And More

Shot from the film “The Boss Baby: Family Business”; Credit: Dreamworks

FilmWeek

Larry Mantle and KPCC film critics Lael Loewenstein, Wade Major and Charles Solomon review this weekend’s new movie releases on streaming and on demand platforms.

Our FilmWeek critics have been curating personal lists of their favorite TV shows and movies to binge-watch during self-quarantine. You can see recommendations from each of the critics and where you can watch them here.

Guests:

Lael Loewenstein, film critic for KPCC; she tweets @LAELLO

Wade Major, film critic for KPCC and CineGods.com

Charles Solomon, film critic for KPCC, Animation Scoop and Animation Magazine

This content is from Southern California Public Radio. View the original story at SCPR.org.




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Metals Co. Expands Into Geological Hydrogen Sector With Department of Energy Grant

This Buy-rated Canadian explorer-developer is working to achieve first mover status in this emerging clean energy space. Find out what all it has done and is doing.




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Uranium Exploration Co. Enters Into New Partnership in Athabasca Basin

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced it has entered into an agreement with Hatchet Uranium Corp. to acquire interest in several of its projects. One analyst says the "spotlight" is on uranium juniors as the energy transition drives a heightened demand for power sources.



  • SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE

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Earth's last magnetic field reversal took far longer than once thought

Full Text:

Earth's magnetic field seems steady and true -- reliable enough to navigate by. Yet, largely hidden from daily life, the field drifts, waxes and wanes. The magnetic North Pole is currently shifting toward Siberia, forcing the Global Positioning System that underlies modern navigation to update its software sooner than expected. Every several hundred thousand years, the magnetic field dramatically shifts and reverses its polarity. Magnetic north flips to the geographic South Pole and, eventually, back again. This reversal has happened countless times over Earth's history, but scientists' understanding of why and how the field reverses is limited. The researchers find that the most recent field reversal 770,000 years ago took at least 22,000 years to complete, several times longer than previously thought. The results call into question controversial findings that some reversals could occur within a human lifetime.

Image credit: Brad Singer




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When human expertise improves the work of machines

Full Text:

Machine learning algorithms can sometimes do a great job with a little help from human expertise, at least in the field of materials science. In many specialized areas of science, engineering and medicine, researchers are turning to machine learning algorithms to analyze data sets that have grown too large for humans to understand. In materials science, success with this effort could accelerate the design of next-generation advanced functional materials, where development now usually depends on old-fashioned trial and error. By themselves, however, data analytics techniques borrowed from other research areas often fail to provide the insights needed to help materials scientists and engineers choose which of many variables to adjust -- and the techniques can't account for dramatic changes such as the introduction of a new chemical compound into the process. In a new study, researchers explain a technique known as dimensional stacking, which shows that human experience still has a role to play in the age of machine intelligence. The machines gain an edge at solving a challenge when the data to be analyzed are intelligently organized based on human knowledge of what factors are likely to be important and related. "When your machine accepts strings of data, it really does matter how you are putting those strings together," said Nazanin Bassiri-Gharb, the paper's corresponding author and a scientist at the Georgia Institute of Technology. "We must be mindful that the organization of data before it goes to the algorithm makes a difference. If you don't plug the information in correctly, you will get a result that isn't necessarily correlated with the reality of the physics and chemistry that govern the materials."

Image credit: Rob Felt/Georgia Tech




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New way for bridges to withstand earthquakes: Support column design

Full Text:

Bridges make travel faster and more convenient, but, in an earthquake, these structures are subject to forces that can cause extensive damage and make them unsafe. Now civil and environmental engineer Petros Sideris of Texas A&M University is leading a National Science Foundation (NSF)-funded research project to investigate the performance of hybrid sliding-rocking (HSR) columns. HSR columns provide the same support as conventional bridge infrastructure columns but are more earthquake-resistant. HSR columns are a series of individual concrete segments held together by steel cables that allow for controlled sliding and rocking. This allows the columns to shift without damage, while post-tensioning strands ensure that at the end of an earthquake the columns are pushed back to their original position. Conventional bridges are cast-in-place monolithic concrete elements that are strong but inflexible. Structural damage in these bridge columns, typically caused by a natural disaster, often forces a bridge to close until repairs are completed. But bridges with HSR columns can withstand large earthquakes with minimal damage and require minor repairs, likely without bridge closures. Such infrastructure helps with post-disaster response and recovery and can save thousands in taxpayer dollars. In an earthquake, HSR columns provide "multiple advantages to the public," Sideris said. "By preventing bridge damage, we can maintain access to affected areas immediately after an event for response teams to be easily deployed, and help affected communities recover faster. In mitigating losses related to post-event bridge repairs and bridge closures, more funds can be potentially directed to supporting the recovery of the affected communities." According to Joy Pauschke, NSF program director for natural hazards engineering, "NSF invests in fundamental engineering research so that, in the future, the nation's infrastructure can be more resilient to earthquakes, hurricanes, and other forces of nature."

Image credit: Texas A&M University




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Boston Biotech Announces Novartis Collaboration

Source: Dr. Robert Driscoll 10/28/2024

Monte Rosa Therapeutics Inc. (GLUE:NASDAQ) recently unveiled a collaborative agreement with Novartis for the development of MRT-6160, its VAV1-degrader program, according to a Wedbush research note.

Wedbush analysts Dr. Robert Driscoll, Dr. Ritika Das, and Sam Ravina, in a research report published on October 28, 2024, maintained their Outperform rating on Monte Rosa Therapeutics Inc. (GLUE:NASDAQ) while raising their price target to US$15.00 from US$11.00. The report follows Monte Rosa's announcement of a collaborative agreement with Novartis for the development of MRT-6160, its VAV1-degrader program.

The analysts highlighted the significant financial terms of the agreement, stating, "GLUE will receive an upfront payment of US$150M as well as total milestone payments of up to US$2.1B that will include US$1.5B in potential development and regulatory milestones that begin upon Ph 2 studies."

Regarding the partnership structure, the analysts noted, "Upon start of Ph 3 studies, 30% US P&L would be shared with Ph 3 development co-fund and ex-US tiered royalties. Importantly, NVS will cover the complete costs of Ph 2 studies and will obtain worldwide rights to develop, commercialize and manufacture MRT-6160 as well as other VAV MGDs."

The analysts viewed this collaboration positively, stating, "We view this favorable collaboration agreement as an additional robust validation of GLUE's QuEEN MGD platform (noting Novartis' significant efforts in the degrader space), as well as an acknowledgment of the significant potential opportunities around targeting VAV1 with a first in class degrader."

They also emphasized the strategic benefits, noting, "Furthermore, we note the likely accelerated timelines for the MRT-6160 development program overall, and significant extension of GLUE's operational cash runway, which we expect to allow advancement of its deep pipeline."

The report highlighted the ongoing Phase 1 SAD/MAD healthy subject study for MRT-6160 in autoimmune diseases, with initial data expected in 1Q:25.

Wedbush's valuation methodology is based on sales multiples. The analysts explained, "Our PT is derived from applying a 6x multiple to estimated US sales and a 15x multiple to EU royalties of MRT-2359 in 2031, discounted by 30% annually."

The analysts also outlined several risk factors, including potential clinical and regulatory failure of MRT-2359, challenges in achieving sales estimates, and possible commercial competition from current and future therapies.

In conclusion, Wedbush's increased price target to US$15 reflects growing confidence in Monte Rosa Therapeutics following the Novartis collaboration agreement. The share price at the time of the report of US$8.05 represents a potential return of approximately 86% to the analysts' target price, highlighting the significant upside potential as the company advances its development programs with its new partner.

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  2. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

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Disclosures for Wedbush, Monte Rosa Therapeutics Inc., October 28, 2024

Analyst Certification We, Robert Driscoll, Ritika Das and Sam Ravina, certify that the views expressed in this report accurately reflect our personal opinions and that we have not and will not, directly or indirectly, receive compensation or other payments in connection with our specific recommendations or views contained in this report.

The Distribution of Ratings is required by FINRA rules; however, WS' stock ratings of Outperform, Neutral, and Underperform most closely conform to Buy, Hold, and Sell, respectively. Please note, however, the definitions are not the same as WS' stock ratings are on a relative basis. The analysts responsible for preparing research reports do not receive compensation based on specific investment banking activity. The analysts receive compensation that is based upon various factors including WS' total revenues, a portion of which are generated by WS' investment banking activities. Company Specific Disclosures This information is subject to change at any time. 2. WS managed a public offering of securities for Monte Rosa Therapeutics within the last 12 months. 4. WS has received compensation for investment banking services from Monte Rosa Therapeutics within the last 12 months. 5. WS provided Monte Rosa Therapeutics with investment banking services within the last 12 months.

Wedbush disclosure price charts are updated within the first fifteen days of each new calendar quarter per FINRA regulations. Price charts for companies initiated upon in the current quarter, and rating and target price changes occurring in the current quarter, will not be displayed until the following quarter. Additional information on recommended securities is available on request. Disclosure information regarding historical ratings and price targets is available: Research Disclosures *WS changed its rating system from (Strong Buy/ Buy/ Hold/ Sell) to (Outperform/ Neutral/ Underperform) on July 14, 2009. Applicable disclosure information is also available upon request by contacting the Research Department at (212) 833-1375, by email to leslie.lippai@wedbush.com. You may also submit a written request to the following: Wedbush Securities, Attn: Research Department, 142 W 57th Street, New York, NY 10019.

OTHER DISCLOSURES The information herein is based on sources that we consider reliable, but its accuracy is not guaranteed. The information contained herein is not a representation by this corporation, nor is any recommendation made herein based on any privileged information. This information is not intended to be nor should it be relied upon as a complete record or analysis: neither is it an offer nor a solicitation of an offer to sell or buy any security mentioned herein. This firm, Wedbush Securities, its officers, employees, and members of their families, or any one or more of them, and its discretionary and advisory accounts, may have a position in any security discussed herein or in related securities and may make, from time to time, purchases or sales thereof in the open market or otherwise. The information and expressions of opinion contained herein are subject to change without further notice. The herein mentioned securities may be sold to or bought from customers on a principal basis by this firm. Additional information with respect to the information contained herein may be obtained upon request. Wedbush Securities does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Please see pages 3–7 of this report for analyst certification and important disclosure information. Retail Investors The information provided is for general informational purposes only and should not be considered an individual recommendation or personalized investment advice. The companies/investments mentioned may not be suitable for everyone. Each investor needs to review their own respective situation(s) before making any investment decisions. All expressions of opinion are subject to change without notice due to shifting market(s), economic or political conditions. Investment involves risks including the risk of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.

( Companies Mentioned: GLUE:NASDAQ, )




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