Basin Energy (BSN:AU) has announced Rock Chip Results Confirm Polymetallic Potential
Download the PDF here.
This post appeared first on investingnews.com
Calibre Mining’s (TSX:CXB,OTCQX:CXBMF)largest shareholder has come out against Equinox Gold’s (TSX:EQX,NYSEAMERICAN:EQX) US$1.8 billion takeover bid, casting doubt over the year’s biggest gold deal.
According to Bloomberg, Van Eck Associates, which holds an 8.69 percent stake in Calibre, has voiced its opposition, citing a lack of operational synergies and concerns over the dilution of Calibre’s quality.
Van Eck was also the second largest investor in Equinox as of December 31, 2024.
The proposed all-stock transaction, announced in February, aims to create a mid-tier gold producer with annual output of approximately 1.2 million ounces. However, the deal still requires shareholder and regulatory approval. Both companies have scheduled shareholder votes, with two-thirds majorities required for approval.
“We are not supportive of this transaction. We don’t see any synergies between any of the companies’ operations,” Imaru Casanova, portfolio manager at Van Eck’s International Investors Gold Fund, said in an email to Bloomberg on Tuesday (March 18). “Both operate in the Americas, but in vastly different locations.”
Casanova also emphasized that Calibre was poised for a revaluation as it advanced its flagship Valentine project in Newfoundland, Canada. Valentine is set to become Atlantic Canada’s largest gold mine.
Equinox operates mines across Canada, Mexico, Brazil and the US, while Calibre’s assets are concentrated in Nicaragua and the US. The deal would make the combined company one of the top 15 global gold producers.
Equinox declined to comment on Van Eck’s opposition, while Calibre did not immediately respond to inquiries.
The Equinox-Calibre deal is part of a broader trend of consolidation in the gold sector, driven by gold’s surging price and strong company balance sheets. However, investors remain cautious, given the industry’s history of high-priced mergers that fail to generate expected returns. Many mining mergers since 2010 have struggled to deliver, with industry reports highlighting skepticism due to overvalued acquisitions and underperforming transactions.
As mentioned, the purchase still requires approval from shareholders and regulatory bodies.
With Van Eck’s significant opposition, other institutional investors may reconsider their stance before the vote.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
The US Federal Reserve held its second meeting of the year from Tuesday (March 18) to Wednesday (March 19) amid broad economic chaos caused by the Trump administration’s tariff threats.
As was widely expected, the central bank left interest rates at 4.25 to 4.5 percent, a range it set at its November meeting; it also said it will slow the pace at which it is shrinking its balance sheet.
In his post-meeting remarks, Chair Jerome Powell said the Fed remains focused on its dual mandate of maximum employment and price stability. He noted that labor market conditions are “solid” and said inflation has moved closer to the Fed’s 2 percent target, although he did acknowledge that it remains “somewhat elevated.”
The US consumer price index (CPI) was up 3 percent year-on-year in January, up slightly from 2.9 percent in December. CPI fell marginally in February to come in at 2.8 percent. The US personal consumption expenditures price index has also remained relatively flat, with a 2.5 percent year-on-year rise in January versus December’s 2.6 percent.
The sticky inflation numbers come against a backdrop of global uncertainty as US President Donald Trump implements and threatens tariff action. Tariffs could drive consumer prices higher on critical goods for US consumers, including new gasoline, homes and cars, as the US relies on oil, lumber and steel imports from Canada.
Powell noted that uncertainty is running high with Trump now in office, saying that his administration is making policy changes in four key areas: trade, immigration, fiscal policy and regulation.
“It is the net effect of these policy changes that will matter for the economy and the path of monetary policy. While there have been recent developments in some of these areas, especially trade, uncertainty around changes and their economic outlook is high,” Powell said, adding that the Fed is focusing on ‘separating the signal from the noise.’
The Fed will adjust its policy based on incoming data, and is well positioned to wait for greater clarity.
When asked by a reporter why the Fed is still predicting two rate cuts this year despite waning consumer sentiment, Powell emphasized that the data shows the economy has remained strong.
“I would tell people that the economy seems to be healthy; we understand that sentiment seems to be quite negative at this time, and that probably has to do with turmoil at the beginning of an administration,” he said.
Following the Fed’s announcement, the gold price spiked to a new record high in the US$3,045 per ounce range. The silver price declined for most of the morning, but moved up after the Fed decision, staying above US$33.50 per ounce.
The S&P 500 (INDEXSP:INX) climbed 1.04 percent to 5,675, while the Nasdaq-100 (INDEXNASDAQ:NDX) rose 1.25 percent to 19,707 and the Dow Jones Industrial Average (INDEXDJX:.DJI) moved up 0.83 percent to 41,920.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
Here’s a quick recap of the crypto landscape for Wednesday (March 19) as of 9:00 p.m. UTC.
Bitcoin and Ethereum price update
Bitcoin (BTC) is currently trading at US$85,406.50, a 3.9 percent increase over the past 24 hours. The day’s trading range has seen a low of US$83,774.65 and a high of US$85,888.99.
Bitcoin performance, March 19, 2025.
Chart via TradingView.
Ethereum (ETH) is priced at US$2,032.78, marking a 6.7 percent increase over the same period. The cryptocurrency reached an intraday low of US$2,007.43 and a high of US$2,055.77.
Altcoin price update
- Solana (SOL) is currently valued at US$132.97, up 7.1 percent over the past 24 hours. SOL experienced a low of US$128.10 and a high of US$133.60 on Wednesday.
- XRP is trading at US$2.49, reflecting a 10.2 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.48 and a high of US$2.57.
- Sui (SUI) is priced at US$2.43, showing a 6.9 percent increase over the past 24 hours. It achieved a daily low of US$2.36 and a low of US$2.47.
- Cardano (ADA) is trading at US$0.7324, reflecting a 5.3 percent increase over the past 24 hours. Its lowest price on Wednesday was US$0.7225, with a high of US$0.7436.
Crypto news to know
US lawmakers aim for August deadline on crypto regulations
Speaking at Blockworks’ Digital Asset Summit in New York on Wednesday, Blockchain Association CEO Kristin Smith said US lawmakers are on track to establish rules for stablecoins and cryptocurrency market structure by August.
“I think we’re close to being able to get those done for August … they’re doing a lot of work on that behind the scenes right now,” Smith said at the event, which was attended by Cointelegraph.
Speaking at the summit on Tuesday (March 18), Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said legislation is “imminent” following the Senate Banking Committee’s approval of the GENIUS Act last week. “I think that stables could be on the president’s desk here in the next two months,” Hines said.
Institutional crypto investment on the rise
A recent report from Coinbase and EY-Parthenon reveals that institutional investors are increasing their engagement with cryptocurrencies in 2025. The survey, conducted in January with responses from 352 institutional investor firms, shows that 83 percent plan to increase their crypto allocations this year.
Furthermore, 59 percent intend to allocate over 5 percent of their assets under management to crypto, and 73 percent already hold assets beyond Bitcoin and Ethereum, with SOL and XRP being the most popular. Additionally, 68 percent of respondents indicated a likelihood to purchase single-asset exchange-traded products for SOL and XRP.
Coinbase highlights the survey’s results in a press release, stating that ‘all signs indicate positive momentum’ for institutional crypto engagement in 2025, with increasing allocations, expanding use cases and adoption of new products.
Bernstein issues bullish rating for Coinbase
Bernstein’s Gautam Chhugani gave a bullish ‘outperform’ rating and a US$310 price target for cryptocurrency exchange platform Coinbase (NASDAQ:COIN), betting on the Trump’s administration’s plans for a US digital asset framework to boost the crypto industry. Chhugani also foresees growth in the US market offsetting competition, and highlighted the strong momentum in Coinbase’s subscription and services business.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) (‘Nuclear Fuels’ or the ‘Company’) announces with profound sadness, that Mr. Eugene Spiering a valued member of Nuclear Fuels’ Board of Directors, passed away earlier this week.
Eugene (Gene) Spiering was a well-respected geologist, globally renown for his work in uranium exploration with over 35 years of international experience in mineral exploration and senior level project management in the western United States , South America , and Europe . Gene’s work on the Kaycee Uranium District in the early 1980s provided the foundational geological framework for Nuclear Fuels’ flagship project. He served as a project geologist for Energy Fuels Nuclear in the 1990s, and during his tenure as Vice President of Exploration for Quaterra Resources, discovered the only two new uranium deposits in Arizona . More recently, as a member of the Company’s Board of Directors, his firsthand knowledge of the Kaycee area was invaluable and key to the exploration success on the Project thus far.
Greg Huffman , Chief Executive Officer, commented: ‘It is with great sadness we announce the loss of Gene as a director of the Company. He will be remembered as an icon in the uranium geological community, as well as for his friendly and outgoing nature. Our thoughts are with his family and loved ones.’
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale In-Situ Recovery (‘ISR’) amenable uranium projects towards production in the United States of America . Leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is well-positioned in a sector poised for significant and sustained growth on the back of strong government support. Nuclear Fuels has consolidated the Kaycee district under single-company control for the first time since the early 1980s. Currently planning its 2025 drill program following successful 2023 and 2024 drilling, the Company aims to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts defined by 3,800 drill holes. The Company’s strategic relationship with enCore Energy Corp., America’s Clean Energy Company, offers a mutually beneficial ‘pathway to production,’ with enCore owning an equity interest and retaining the right to back-in to 51% ownership in the flagship Kaycee Project in Wyoming’s prolific Powder River Basin.
Forward-Looking Information
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as ‘may’, ‘should’, ‘anticipate’, ‘expect’, ‘potential’, ‘believe’, ‘intend’ or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company’s profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
View original content to download multimedia: https://www.prnewswire.com/news-releases/nuclear-fuels-mourns-the-passing-of-independent-director-eugene-spiering-302406702.html
SOURCE Nuclear Fuels Inc.
News Provided by PR Newswire via QuoteMedia
This post appeared first on investingnews.com
The Federal Trade Commission is going after an e-commerce company that allegedly took millions of dollars from consumers as part of a “passive income” scheme, which spun up Amazon storefronts on their behalf and promised “insane returns” that were higher than the stock market.
The FTC said Tuesday it filed a lawsuit against the company, called Click Profit; its co-founders Craig Emslie and Patrick McGeoghean; and two other business associates. It also asked a judge to bar the parties from doing business temporarily.
The case is the latest example of the FTC cracking down on e-commerce “automation” services. These companies launch and manage online storefronts on behalf of clients, who pay money for the services and the promise of earning tens of thousands of dollars in “passive income.” The companies often make extravagant claims about potential earnings and the use of artificial intelligence technology to guarantee profits. Despite their assurances, consumers frequently end up losing money.
Click Profit, which also operated under the names FBALaunch, Automation Industries and PortfolioLaunch, promised investors they would “build you a massively profitable e-commerce store from the ground up” by selling products on Amazon, Walmart and TikTok, according to the FTC.
The company charged consumers between $45,000 to $75,000 for the initial investment, plus an additional $10,000 or more to pay for inventory, the FTC alleged in its complaint, which was filed in the U.S. District Court for the Southern District of Florida. Click Profit took up to 35% of any profits from their customers’ stores, the complaint states.
The company claimed the business opportunity was “safe, secure and proven to generate wealth,” according to marketing materials referenced in the FTC’s complaint. They posted screenshots of purportedly successful Amazon storefronts, including one they claimed generated product sales of over $540,000 in one month.
Emslie often appeared in TikTok videos and other online ads to pitch prospective consumers. In one ad, he said that “the stock market, real estate or precious metals will never be able to offer you” the level of security offered through investing in Click Profit, according to the FTC’s complaint. Other TikTok videos show him appearing alongside an image of Warren Buffett while “fanning himself” with wads of cash, per the complaint.
Click Profit talked up its expertise by claiming it had product sourcing partnerships with legitimate brands, including Nike, Disney, Dell, Colgate and Marvel, the complaint alleges. It also claimed to have spent $5 million to build a “super computer” and other AI technologies to locate the “most profitable products,” claiming the super computer had generated “around $100 million in sales,” per the complaint.
The company even implied that investors’ online store could be bought out by venture capital firms connected with Click Profit “at a 3-6x multiple,” the FTC alleged.
“In reality, the highly touted AI technology and brand partnerships do not exist, and the promised earnings never materialize,” the FTC said in its complaint.
Amazon suspended or terminated about 95% of Click Profit’s stores after they violated Amazon’s seller policies, the FTC alleged. After accounting for Amazon’s fees, more than one-fifth of Click Profit’s stores on the platform earned no money at all, while another third earned less than $2,500 in gross lifetime sales, the FTC stated.
As a result, most consumers were unable to recoup their investments and “some are saddled with burdensome credit card debt and unsold products,” according to the FTC, which also said that Click Profit often refused to refund victims their investments and threatened them with legal action if they posted publicly about their experience.
One unnamed consumer mentioned in the lawsuit invested “his life’s savings” in Click Profit and was later terminated as a client “with nothing to show for his payments,” the complaint states. He posted a negative review online and was allegedly approached by Emslie’s attorney, who threatened to sue the consumer and “take everything he and his wife owned,” per the complaint.
The consumer took the reviews down, then asked Emslie whether he could receive a partial refund, according to the FTC.
“The attorney told the consumer that Emslie had responded, ‘F*** off,’” the FTC alleged.
Representatives for Emslie and Click Profit didn’t immediately respond to a request for comment.
The FTC alleges Click Profit violated the FTC Act, the Consumer Review Fairness Act and the Business Opportunity Rule. It seeks to permanently prohibit Click Profit from doing business, as well as monetary relief for the victims.
This post appeared first on NBC NEWS
The Metropolitan Transit Authority will stop selling and refilling those formerly-ubiquitous MetroCards by the end of the year in favor of the OMNY system, MTA Chair and CEO Janno Lieber told Crain’s New York Business Wednesday.
MetroCards have been around since 1994, but now seem destined to go the way of the subway token, which stopped being used in 2003.
MTA officials previously said they planned to say goodbye to MetroCards in 2027, but now have provided an estimated date when they will stop selling and filling the cards, and that’s at the end of 2025.
OMNY’s popular tap-and-go system has been around since 2019 and the service includes the ability to tap your phone to pay to purchase an OMNY tap card that passengers can buy and reload.
Commuters will still be able to use their existing MetroCards with whatever funds they have on them until sometime in 2027.
This post appeared first on NBC NEWS
Nvidia CEO Jensen Huang downplayed the negative impact from President Donald Trump’s tariffs, saying there won’t be any significant damage in the short run.
“We’ve got a lot of AI to build … AI is the foundation, the operating system of every industry going forward. … We are enthusiastic about building in America,” Huang said Wednesday in a CNBC “Squawk on the Street” interview. “Partners are working with us to bring manufacturing here. In the near term, the impact of tariffs won’t be meaningful.”
Trump has launched a new trade war by imposing tariffs against Washington’s three biggest trading partners, drawing immediate responses from Mexico, Canada and China. Recently, Trump said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House said those tariffs are set to take effect April 2.
“We’re as enthusiastic about building in America as anybody,” Huang said. “We’ve been working with TSMC to get them ready for manufacturing chips here in the United States. We also have great partners like Foxconn and Wistron, who are working with us to bring manufacturing onshore, so long-term manufacturing onshore is going to be something very, very possible to do, and we’ll do it.”
Shares of Nvidia have fallen more than 20% from their record high reached in January. The stock suffered a massive sell-off earlier this year due to concerns sparked by Chinese artificial intelligence lab DeepSeek that companies could potentially get greater performance in AI on far-lower infrastructure costs. Huang has pushed back on that theory, saying DeepSeek popularized reasoning models that will need more chips.
Nvidia, which designs and manufactures graphics processing units that are essential to the AI boom, has been restricted from doing business in China due to export controls that were increased at the end of the Biden administration.
Huang previously said the company’s percentage of revenue in China has fallen by about half due to the export restrictions, adding that there are other competitive pressures in the country, including from Huawei.
This post appeared first on NBC NEWS
Last week, tariff talks, recession fears, and waning consumer sentiment sent stocks lower. This week, the narrative may have shifted, as investors prepare for a macro-filled week and NVIDIA’s annual GTC developers’ conference.
Retail sales data for February came in slightly lower than expectations but better than January’s number. This, along with Treasury Secretary Scott Bessant’s comments about the necessity of the economy undergoing a detox period, may have eased investor worries. All broader equity indexes closed higher on Monday, marking two solid up days in a row.
Next up, we have home prices and new home sales, an important measure of consumer health. The SPDR S&P Homebuilders ETF (XHB) went through a steep downturn as did the SPDR S&P Retail ETF (XRT). Consumer spending is a major contributor to GDP growth which is why these two charts should be on every inverter’s radar. While both ETFs saw an upside swing on Monday, it’s not enough to change the trend (see chart below).
FIGURE 1. SPDR S&P HOMEBUILDERS ETF AND SPDR S&P RETAIL ETF. Both saw a significant slide in value. The upside swing in the last price bar needs to see a lot more momentum and follow through and a confirmed trend reversal. Chart source: StockCharts.com. For educational purposes.
Both ETFs (XHB in the top panel and XRT in the bottom panel) are trading below their 50-day simple moving average (SMA). Monday’s upside move is significant enough to alert investors that perhaps momentum is starting to change. It could be the start of a reversal, a short-term rally that resumes its downtrend, or the beginning of a sideways move. Regardless, it’s worth monitoring the sectors and specific industry groups to get an idea of the general investor sentiment. The StockCharts MarketCarpets can go a long way in giving a big-picture view of the overall market (see below).
FIGURE 2. IT’S MOSTLY A SEA OF GREEN EXCEPT FOR THE HEAVY-WEIGHT LARGE-CAP STOCKS. There was money flowing into the market, especially in the Real Estate, Energy, and Consumer Staples sectors. Image source: StockCharts.com. For educational purposes.
Money flowed into the Real Estate, Energy, and Consumer Staples sectors, but all 11 S&P sectors closed in the green. The weakest performer was Consumer Discretionary—you can thank the slide in Tesla, Inc. (TSLA) and Amazon.com, Inc. (AMZN) for that.
All Ears on Fed
Perhaps the most important macro-event this week will be the FOMC meeting. Although an interest rate cut isn’t expected, there’s still uncertainty surrounding tariffs. When Federal Reserve Chairman Jerome Powell takes the podium on Wednesday, investors will be listening for clues about economic growth and inflation expectations.
Bond prices are showing signs of rising. The iShares 20+ Year Treasury Bond ETF (TLT), which has been trending higher this year, closed modestly higher. Gold and major cryptocurrencies such as Bitcoin and Ether also closed higher.
The Bottom Line
While it’s encouraging to see the stock market show upside momentum after sliding lower for almost a month, take things one day at a time. If you have some cash sitting on the sidelines, be patient and wait for confirming signals of a trend reversal.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
Tuesday’s stock market action marked a reversal in investor sentiment, with the broader indexes closing lower. The S&P 500 ($SPX), Nasdaq Composite ($COMPQ), and Dow Jones Industrial Average ($INDU) are still below their 200-day simple moving average (SMA). Investor anxiety is elevated ahead of the Fed’s culmination of its two-day policy meeting. The risk-off sentiment is back, with gold and silver prices rallying. But it may not all be due to the risk-off mode, as lower US Treasury yields and the lower US dollar may have also played a role in the precious metal rally. The SPDR Gold Shares (GLD) hit a new all-time high and silver prices are on the rise.
Technology and consumer discretionary were Tuesday’s worst-performing sectors, while Energy and Health Care took the lead but rose modestly. Overall, it was a pretty red day for U.S. equities (see the StockCharts MarketCarpet below).
FIGURE 1. A SEA OF RED. Tuesday’s StockCharts MarketCarpet was a sea of red with specks of green in the Energy and Health Care, Real Estate, Materials, and Industrials sectors.Image source: StockCharts.com. For educational purposes.
The Mag 7 Unwind
The mega-cap, Mag 7 stocks stand out strongly in Tuesday’s MarketCarpet. The daily chart of the Roundhill Big Tech ETF (MAGS) below shows how these stocks are in a steep fall. The ETF fell below its 50-day SMA and struggled to retain its position above it. The fall from the 50-day to the 200-day SMA was like an elevator ride down. MAGS managed to find a little resistance at its 200-day SMA, but that was short-lived.
FIGURE 2. ROUNDHILL BIG TECH ETF (MAGS) SLIDES BELOW 200-DAY MOVING AVERAGE. After sliding below its 50-day SMA, MAGS fell hard and continued sliding as it broke below the 200-day SMA.Chart source: StockCharts.com. For educational purposes.
The rise in volume after MAGS fell below its 200-day SMA suggests there’s a lot more selling than buying. The relative strength index (RSI) is hovering above 30, which implies it isn’t oversold yet. So there’s a chance MAGS could fall lower, although it could reverse before dipping into oversold territory.
International Markets
Meanwhile, the iShares China Large-Cap ETF (FXI), iShares MSCI Germany (EWG), iShares MSCI Italy ETF (EWI), and other European stock ETFs are rising. The daily chart of the iShares MSCI EAFE ETF (EFA), which has its top 10 holdings in European companies, is hitting all-time highs (see below).
FIGURE 3. DAILY CHART OF ISHARES MSCI EAFE ETF. European stocks have been rising since early 2025. The 50-day SMA has crossed above the 200-day and price is well above the 50-day SMA.Chart source: StockCharts.com. For educational purposes.
With elevated tariff uncertainty, a slowdown in the U.S. economy, and declining U.S. consumer confidence, it shouldn’t be surprising to see investors diversifying their holdings across different asset groups. This reiterates the importance of having a diversified portfolio spread across different sectors, precious metals, international stocks, and bonds.
The Closing Bell
Tuesday’s reversal after a two-day winning streak suggests investor uncertainty remains prominent. The Federal Reserve policy meeting ends on Wednesday. Chairman Powell’s press conference is the main event to listen to on Wednesday, but really, any headline could rock the markets in either direction. The best you can do is stay diversified.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.