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Skyharbour Announces Closing of Private Placement for Gross Proceeds of C$10 Million

Investing 9 Mins Read

Not For Distribution to U.S. News Wire Services or Dissemination in The United States

Vancouver, BC, Dec. 20, 2024 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd.  (TSX-V: SYH ) (OTCQX: SYHBF )   (Frankfurt: SC1P ) (‘Skyharbour’ or the ‘Company’) is pleased to announce that is has closed the brokered private placement previously announced by the Company on December 2, 2024, as upsized on December 3, 2024 (the ‘Brokered Offering’), and has additionally closed a concurrent non-brokered private placement (the ‘Non-Brokered Offering’, and together with the Brokered Offering, the ‘Offering’), for aggregate gross proceeds to the Company of C$10,020,000.

Jordan Trimble, President and CEO of Skyharbour, stated: ‘Skyharbour is very well-funded for its drilling and exploration plans in 2025, with the majority of the Offering placed with several strategic institutional and corporate investors. Over the next year, the Company anticipates the largest combined drilling and exploration campaign at its core projects of Russell Lake and Moore. This will follow up on successful drilling in 2024 at both projects, which included high-grade drill results and new uranium discoveries. The Company also expects continuous cash and share payments, as well as news flow, from its prospect generator business, consisting of partner companies advancing numerous other uranium projects throughout the Athabasca Basin.’

The Brokered Offering was completed through a syndicate of agents co-led by Haywood Securities Inc. and Red Cloud Securities Inc. (collectively, the ‘Agents’). Pursuant to the Brokered Offering, the Company issued: (i) 5,000,000 hard dollar units of the Company (the ‘Units’) at a price of C$0.40 per Unit; (ii) 2,368,420 charity flow-through shares (the ‘Charity FT Shares’) at a price per Charity FT Share of C$0.59; and (iii) 13,310,070 traditional flow-through shares (the ‘Traditional FT Shares’) at a price per Traditional FT Share of C$0.46, for aggregate gross proceeds under the Brokered Offering of C$9,520,000.

Additionally, the Company has completed a concurrent Non-Brokered Offering through the issuance of 1,250,000 Units at C$0.40 per Unit, for additional gross proceeds under the Non-Brokered Offering of C$500,000 with one strategic investor.

Each Unit consists of one common share of the Company (a ‘Share’) plus one-half of one common share purchase warrant (each whole such warrant, a ‘Warrant’). Each Warrant entitles the holder thereof to purchase one Share (a ‘Warrant Share’) at an exercise price of C$0.55 until June 20, 2027.

The gross proceeds from the sale of the Charity FT Shares and the Traditional FT Shares will be used by the Company to incur eligible ‘Canadian exploration expenses’ that qualify as ‘flow-through critical mineral mining expenditures’ as both terms are defined in the Income Tax Act (Canada), and will also be used to incur ‘eligible flow-through mining expenditures’ as defined in The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan) (collectively, the ‘Qualifying Expenditures’) related to the Company’s projects in Saskatchewan, on or before December 31, 2025, and to renounce all Qualifying Expenditures in favour of such subscribers effective December 31, 2024. The net proceeds from the sale of Units will be used for the 2025 exploration and drilling programs at the Company’s uranium projects in Saskatchewan, as well as for general working capital purposes.

The Offering was conducted in accordance with available prospectus exemptions pursuant to applicable Canadian securities laws, with the securities issuable under the Offering subject to a statutory hold period expiring on April 21, 2025.

In consideration for the services provided by the Agents in connection with the Brokered Offering, on closing the Company paid to the Agents a cash commission of 6.5% of the gross proceeds raised under the Brokered Offering, and issued to the Agents compensation options equal to 6.5% of the total number of securities sold under the Brokered Offering (the ‘Compensation Options’), other than with respect to president’s list orders for which a 3.25% cash fee was paid and 3.25% Compensation Options were issued. Each Compensation Option is exercisable at C$0.50 until June 20, 2027. In connection with the Brokered Offering, the Company paid aggregate cash commission fees of $589,550 and issued 1,294,525 Compensation Options. No fees were paid in connection with the Non-Brokered Offering.

Directors and officers of the Company subscribed for an aggregate of C$49,900 in gross proceeds under the Offering. Participation by insiders of the Company constitutes a ‘related party transaction’ under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101’). Pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, the Company is exempt from obtaining formal valuation and minority approval of the Company’s shareholders respecting the purchase of securities under the Offering by related parties as the fair market value of securities to be purchased under the Offering is below 25% of the Company’s market capitalization as determined in accordance with MI 61-101.

The securities offered have not been, nor will they be, registered under the U.S. Securities Act, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U 3 O 8 over 5.9 metres, including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is an operator with joint-venture partner Rio Tinto. The project hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project which hosts the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total over $41 million in partner-funded exploration expenditures, over $30 million worth of shares being issued, and over $22 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:

https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble

President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
‎Skyharbour Resources Ltd.
‎Telephone: 604-558-5847
‎Toll Free: 800-567-8181
‎Facsimile: 604-687-3119
‎Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Forward-Looking Information

This news release contains ‘forward‐looking information or statements’ within the meaning of applicable securities laws, which may include, without limitation, the intended use of proceeds from the Offering, the ability of the Company to renounce Qualifying Expenditures in favour of the subscribers, tax treatment of the Charity FT Shares and the Traditional FT Shares, future results of operations, performance and achievements of the Company, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, and other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. 







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FALCO ANNOUNCES CLOSING OF BROKERED PRIVATE PLACEMENT

						
					  
						
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 /NOT FOR DISTRIBUTION TO  UNITED STATES  NEWS WIRE SERVICES OR FOR DISSEMINATION IN  THE UNITED STATES  / 


 TSXV – FPC 


Falco Resources Ltd. (TSXV: FPC) (‘ Falco ‘ or the ‘ Corporation ‘) is pleased to announce the closing of its previously announced ‘best efforts’ brokered private placement (the ‘ Offering ‘) with Cantor Fitzgerald Canada Corporation, acting as sole agent and sole bookrunner (the ‘ Agent ‘). Pursuant to the Offering, Falco has issued an aggregate of 24,000,000 units of the Corporation (the ‘ Units ‘) at a price of C$0.25 per Unit, for aggregate gross proceeds of C$6,000,000 .




 Each Unit consists of one common share (each, a ‘  Common Share  ‘) of the Corporation and one common share purchase warrant (each, a ‘  Warrant  ‘). Each Warrant is exercisable to acquire one Common Share at a price of  C$0.35  at any time on or before that date which is 60 months after the closing date of the Offering. 


 The Corporation intends to use the net proceeds from the sale of Units for the advancement of the Horne 5 Project and for working capital and general corporate purposes. 


 In connection with the closing of the Offering, the Corporation paid the Agent a cash commission totaling  C$324,000  and has issued the Agent 1,152,000 non-transferrable compensation warrants (each, a ‘  Broker Warrant  ‘). Each Broker Warrant entitles the Agent to purchase one Common Share of the Corporation at an exercise price of  C$0.25  per Broker Warrant at any time for a term of 24 months following the date of issuance. 


 All Common Shares and Warrants issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of issuance of such securities under applicable securities laws in  Canada  . 


 A related party of the Corporation subscribed for 1,790,000 Units under the Offering. A transaction with a related party of the Corporation constitutes a ‘related party transaction’ within the meaning of Multilateral Instrument 61-101 –  Protection of Minority Security Holders in Special Transactions  (‘  MI 61-101  ‘). The Corporation is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such related party participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Corporation’s market capitalization. The Corporation did not file a material change report 21 days prior to closing of the Offering, as the related party’s participation had not been confirmed at that time and the Company wished to close the transaction as soon as practicable for sound business reasons. 


 This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in  the United States  or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in  the United States  absent registration or an applicable exemption from the registration requirements thereunder. 


 About Falco 


Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal asset is the Horne 5 Project located under the former Horne mine that was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco’s largest shareholder owning a 16% interest in the Corporation. 


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


 Cautionary Statement on Forward-Looking Information 


 This news release contains forward-looking statements and forward-looking information (together, ‘forward-looking statements’) within the meaning of applicable Canadian securities laws, which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Statements, other than statements of historical facts, may be forward-looking statements. Often, but not always, forward-looking statements can be identified by words such as ‘plans’, ‘expects’, ‘seeks’, ‘may’, ‘should’, ‘could’, ‘will’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, ‘believes’, or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Without limiting the generality of the foregoing statements, the proposed use of the proceeds of the Offering is a forward-looking statement. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual plans, results, performance or achievements of Falco to differ materially from any future plans, results, performance or achievements expressed or implied by the forward-looking statements. These risk and uncertainties include, but are not limited to, the risk factors set out in Falco’s annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at  www.sedarplus.ca  ,  as well as all assumptions regarding the foregoing. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 


 SOURCE Falco Resources Ltd.




 View original content:  http://www.newswire.ca/en/releases/archive/December2024/20/c9019.html 






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Silver Price Forecast: Top Trends That Will Affect Silver in 2025

						
					  
						
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					  6 Mins Read

			

	
				
						
				
	

		
	


	

		
		


The silver price reached highs not seen since 2012 this past year, supported by an ongoing deficit and increasing interest from investors as geopolitical concerns prompted safe-haven buying. 


The white metal reached its highest point for the year in October, breaking through US$34 per ounce on the back of a shifting post-pandemic landscape and geopolitical tensions. However, Donald Trumps victory in the US presidential election just a few weeks later buoyed bond yields and the US dollar while weighing on silver and its sister metal gold. 


What will 2025 hold for silver? As the new year approaches, investors are closely watching how Trump’s policies and actions could impact the precious metal, along with supply and demand trends in the space. 




Here’s what experts see coming for silver in 2025. 






                            How will Trump’s presidency impact silver?                                


As Trump’s inauguration approaches, speculation is rife about how he could affect the resource industry. 


The president-elect ran on a policy of “drill, baby, drill,’ and while his focus was largely on oil and gas companies, mining sector participants have taken it as a positive sign for exploration and development. 


Trump’s promise to reduce permitting timelines for anyone making an investment of US$1 billion or more in the US has excited sector members, and could end up being a boon to silver companies in the country. 


However, part of the help Trump has promised to mining companies comes from reneging on environmental commitments, including the Paris Agreement. This could end up weighing on silver. 


Current President Joe Biden’s Inflation Reduction Act includes tax credits and deductions for solar projects, and some experts are concerned that the incoming administration and the new Elon Musk-led Department of Government Efficiency (DOGE) could impose reversals or have the entire act gutted.


“Tesla bought SolarCity, which became Tesla Energy. They are an important provider of solar panels. Again, Musk’s new role heading DOGE and obvious close connection to Trump just might help mitigate risks to Tesla and its solar panel/power storage business. If that happens, and whatever form it may take, it could shelter solar panel production and sales in the US to a considerable degree,” Krauth explained via email. 


He also noted that Trump’s presidency isn’t without risks and that much uncertainty still remains. 


Mind Money CEO Julia Khandoshko also isn’t worried about solar demand in the US. 












                            Silver deficit expected to continue                                


Industrial segments have been critical for silver demand in recent years. 


As of November, the Silver Institute was forecasting total industrial demand of 702 million ounces of silver for 2024, an increase of 7 percent over the 655 million ounces recorded in 2023.


The institute attributes much of this increase to energy transition sectors, highlighting photovoltaics in particular. 


However, these gains are coming alongside flat mine production, which is expected to grow only 1 percent to 837 million ounces during 2024. Once factored in, secondary supply from recycling pushes the total supply of silver to 1.03 billion ounces, a considerable gap from the 1.21 billion ounces of total demand. 


Both Krauth and Khandoshko think the gap between silver supply and demand will continue. 


Khandoshko expressed a similar sentiment, saying demand is likely to keep outpacing supply.


 However, she also sees geopolitics and a global macroeconomic situation that could constrain both demand and supply growth in 2025. For example economic difficulties in Europe and China could slow energy transition demand. 


“The problem is that silver production is mainly concentrated in geopolitically challenging areas, such as Russia and Kazakhstan, where securing funding for supply expansion is quite difficult,’ she explained. 


‘These factors limit silver’s growth potential compared to gold, which in turn benefits from its role as a safe-haven asset during times of economic uncertainty.’ 






                            Silver M&A set to heat up in 2025                                


As silver supply becomes increasingly stressed, experts are eyeing projects that are ramping up. 


Krauth highlighted Aya Gold and Silver’s (TSX:AYA:OTCQX:AYASF) Zgounder mine expansion. Its first pour was at the end of November, and it is expected to ramp up to full annual output of 8 million ounces in 2025. 


Endeavour Silver’s (TSX:EDR,NYSE:EXK) Terronera mine is also nearing completion. Once complete, the mine is expected to produce 15.5 million silver equivalent ounces per year. 


For its part, Skeena Resources (TSX:SKE,NYSE:SKE) is working to develop its Eskay Creek project. It is set to come online in 2027, and is expected to bring 9.5 million ounces of silver per year to market in its first five years. 


Krauth said a rising silver price is likely good news for mergers and acquisitions in 2025.


“Higher prices, since they translate into higher share prices, meaning acquirers can use their more valuable shares as a currency to acquire others … I think 2024 will bring deals between mid-tiers and between juniors,’ he said. 


Krauth added, ‘The truth is that many mid-tier producers have not been spending on exploration. Something has to give, so I think we’ll see this space heat up.’






                            Investor takeaway                                


Khandoshko and Krauth have similar silver outlooks for 2025, suggesting a possible pullback. 


“Due to supply shortages and increasing demand in the coming months, silver is expected to reach US$35. After this, a slight pullback to US$30 would be possible,” Khandoshko said. 


However, after that happens she projects another rise, with silver potentially passing US$50. 


Krauth was looking for silver to reach US$35 in 2024, which happened in Q4. Looking forward to 2025, he thinks the white metal will revisit that level in the first quarter, with US$40 or more possible later in the year. 


However, he suggested that investors should be cautious of wider economic trends affecting silver. 


“There is a serious risk of significant correction in the broader markets and of a recession. A broad market selloff could bleed into silver stocks, even if only temporarily,” Krauth said. 


In the case of a recession, a lack of industrial demand could create headwinds for silver. Still, Krauth thinks that could be tempered by government stimulus efforts for green energy and infrastructure.


Overall, 2025 could be a significant year for silver investors. However, geopolitical and economic instability may provide headwinds across the resource sector and could stymie silver’s upward momentum.




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




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Opawica Announces the Closing of Non-Brokered Private Placement

						
					  
						
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 (TheNewswire) 






















December 20th, 2024 Vancouver, B.C. TheNewswire – Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the ‘Company’ or ‘Opawica’), a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that it has closed the recently announced private placement (December 17, 2024) of 4,330,00 Units for total aggregate proceeds of CAD $1,082,500 each consisting of one flow through Share of the Company and one half Common Share Purchase Warrant at a price of $0.25 per Unit.


 Each purchase Warrant is exercisable into one Common Share at an exercise price of $0.40 per share at any time up to 24 months following the closing date.  The Company also maintains a Warrant Acceleration option allowing Opawica to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the TSX Venture Exchange is greater than $0.55 per Common Share for the preceding 10 consecutive trading days. All securities issued under the Offering and including Warrants will be subject to a four (4) month and one day holding period being April 21  st,  2025. 




 As part of the closing, Opawica has agreed to compensate the finding agents with a commission of up to 6.0% cash totaling $64,950, and up to 6.0% purchase Warrants totaling 259,800 Warrants based on the gross proceeds of the Offering. Each purchase Warrant is exercisable @ $0.40 according to the terms described above. 


 The Company intends to use the net proceeds to advance drilling obligations on its flagship properties in the Abitibi Gold Belt Québec. 


 The Private Placement remains subject to receipt of all required approvals, including the final approval of the TSX Venture Exchange, as well as execution of formal documentation. 


 Blake Morgan CEO and President states, ‘With a great cash position in hand, Opawica is now primed to start drilling on its flagship properties in the Abitibi Green Stone Belt Québec. A large number of high priority drill targets have been identified across our two flagship properties and the company is eager to drill them. The company will have some more news regarding the drill program soon. We welcome shareholders to visit  www.opawica.com  and follow us on our journey.’ 


 A  bout Opawica Explorations Inc.


Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders. 


 FOR FURTHER INFORMATION CONTACT: 


 Blake Morgan 


 President and Chief Executive Officer 


Opawica Explorations Inc.


 Telephone: 236-878-4938 


 Fax: 604-681-3552 


 www.opawica.com 


 info@opawica.com 


 Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in 


 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy 


 of this news release. 


 Forward-Looking Statements 


 This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law. 


 Copyright (c) 2024 TheNewswire – All rights reserved. 






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Top 5 Canadian Mining Stocks This Week: Omineca Jumps 67 Percent

						
					  
						
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					  11 Mins Read

			

	
				
						
				
	

		
	


	

		
		


The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.87 percent on the week to close at 586.88 on Friday (December 20). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 2.6 percent decrease to hit 24,599.48, and the CSE Composite Index (CSE:CSECOMP) was down just 0.12 percent to reach 130.58.


Statistics Canada released November’s consumer price index (CPI) data on Tuesday (December 17). The data showed that inflation in Canada continued to cool, posting a 1.9 percent year-over-year increase, down from the 2 percent recorded in October. 




The agency said the decrease was partly due to a 0.4 percent decrease in gasoline prices and consumers taking advantage of lower prices during Black Friday sales.


StatsCan also released its October monthly mineral production survey on Thursday (December 19). The release shows copper production in Canada increased to 37.5 million kilograms from 35.43 million in September. Gold production also increased, rising considerably to 26,553 kilograms from 15,296 kilograms the prior month. Meanwhile, silver production decreased slightly, with 25,166 kilograms produced in October compared to 26,827 kilograms the previous month.


South of the border, the US Federal Reserve held its final meeting of the year this past Tuesday and Wednesday (December 18). The committee cut the benchmark rate by 25 basis points, lowering it to 4.25 to 4.5 percent.


The Fed cited an improving economic outlook, with inflation easing towards its target 2 percent range and a better job market balance. However, the Fed is widely expected to slow further cuts in the new year as it continues to gather data. 


In his remarks following the meeting, Fed Chairman Jerome Powell wouldn’t rule out future increases as some inflationary indicators have stalled in recent weeks.


The news was not well received on Wall Street, with the Dow plunging more than 1,000 points following the announcement.


Over the course of the week, markets were broadly down. The S&P 500 (INDEXSP:INX) fell 2.19 percent to end Friday at 5,930.84, while the Nasdaq-100 (INDEXNASDAQ:NDX) shed 2.69 percent to 21,289.15. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) finished the week down 2.25 percent at 42,840.25.


Precious metals also took a hit on the Fed news, with gold and silver plunging below US$2,600 and US$30 respectively. 


Overall, gold lost 1 percent over the week to finish Friday at US$2,623.92 and silver sank 3.42 percent to US$29.49 per ounce. Additionally, copper fell 2.61 percent for the week to close at US$4.10 per pound on the COMEX. The S&P GSCI (INDEXSP:SPGSCI) was down 1.32 percent to close at 539.08.


Learn about this week’s five best-performing Canadian mining stocks below.


Data for this article was retrieved at 4:00 p.m. EST on December 20, 2024, using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.












                            1. Omineca Mining and Metals (TSXV:OMM)




Company Profile






Weekly gain: 66.67 percent
Market cap: C$10.91 million
Share price: C$0.075


Omineca Mining and Metals is a gold exploration and mining company working to advance its Wingdam project in British Columbia, Canada. 


The project consists of 61,329 hectares of hard rock and placer claims within the Cariboo mining district. It is a 50/50 joint venture with D&L Mining. The site currently hosts mining operations focused on extracting placer gold from gravels 50 meters beneath Lightning Creek. 


According to the company, the mine is extracted through gravity separation, which uses an existing reusable water supply without chemicals, mill waste or tailings. 


Omineca’s shares saw price gains at the end of the week, but the only news came early in the week after the company announced on Tuesday that it had expanded its diamond drilling program at Wingdam from 10 holes to 17 and up to 10,000 meters. So far, the company has completed six holes with two rigs and sent its first sample to be assayed. 


The company said drilling has encountered some quartz veins with various concentrations of semi-massive to massive sulphide mineralization, and included photos of the mineralized cores. Samples from several holes will be assayed for coarse gold.


Additionally, on December 6, the company announced that it had entered into a non-brokered private placement of flow-through units for C$0.055 per share, with gross proceeds of up to C$2.4 million. The company said it would use the funds to explore Wingdam further as it works to find the lode source of the placer gold.








                            2. Bayhorse Silver (TSXV:BHS)




Company Profile






Weekly gain: 45.45 percent
Market cap: C$17.87 million
Share price: C$0.08


Bayhorse Silver is a silver-focused company currently working to bring the Bayhorse silver, copper and antimony mine in Oregon, US, back online.


The mine was originally in operation until late 1984 and closed when the price of silver dropped to under US$6 per ounce. Historic sampling during the 1980s identified grades of 2,146 grams per metric ton (g/t) silver, and a bulk sampling program conducted by Bayhorse in 2014 found bonanza grades of 150,370 g/t silver.


The company has continued to explore the property and, in October 2018, produced a maiden resource estimate that showed the property hosts inferred resources of 6.33 million ounces of silver from 292,300 US tons of ore with an average grade of 21.65 ounces per US ton.


The most recent update from the project came on December 19 when the company reported that drilling had encountered a strongly brecciated zone at 112 meters downhole, continuing to the current drilling depth of 148 meters. Bayhorse said the XRF field analysis showed elevated levels of copper, zinc and lead, but confirmation from a formal lab assay is needed. 








                            3. Defense Metals (TSXV:DEFN)




Company Profile






Weekly gain: 40 percent
Market cap: C$32.53 million
Share price: C$0.14


Defense Metals is a rare earth metals exploration and development company currently focused on advancing its Wicheeda property near Prince George in British Columbia, Canada. 


The property consists of 12 mineral claims covering 6,759 hectares and hosts rare earth element mineralization, first discovered at the site in 1976. Between 2019 and 2023, Defense extensively explored the property, drilling 60 diamond drill holes totalling 12,883.91 meters. 


In August 2023, the company produced a technical report for the property with its most recent mineral resource estimate. The site hosts measured and indicated resources of 699,000 metric tons of total rare earth oxides from 34.17 million metric tons of ore with an average grade of 2.02 percent, as well as inferred resources of 113,000 metric tons of total rare earth oxides from 11.05 million metric tons of ore with an average grade of 1.02 percent.


The company’s most recent news came on Thursday, when it announced it would grant 9.95 million incentive stock options to directors, officers and consultants. The options are exercisable for five years, with 8.85 million offered at C$0.125 per share, 400,000 offered at C$0.205 per share and 700,000 at C$0.26.








                            4. Nevada Lithium Resources (CSE:NVLH)




Company Profile






Weekly gain: 37.5 percent
Market cap: C$53.18 million
Share price: C$0.22


Nevada Lithium Resources is an exploration and development company working to advance its Bonnie Claire lithium project in Nevada, US. The property consists of 915 placer claims covering an area of 74.1 square kilometers in Nye County.


According to a mineral resource estimate issued on Monday (December 16), the site hosts indicated resources of 202,000 metric tons of contained lithium from ore with an average grade of 1,074 parts per million (ppm) and inferred resources of 499,000 metric tons contained lithium at an average grade of 1,106 ppm. 


Along with the lithium, the site also has significant quantities of boron, hosting an indicated resource of 231,000 metric tons of contained boron from ore with an average grade of 1,519 ppm and an inferred resource of 407,000 metric tons at 1,505 ppm. 


In addition to the technical report, Nevada Lithium announced the same day that it had been given conditional approval to list its common shares on the TSX Venture exchange. Once final approval is received, shares will be listed on the TSXV under the same ticker symbol and delisted from the CSE.








                            5. Gratomic (TSXV:GRAT)


                {'@context':'http://schema.org','@type':'Corporation','name':'Gratomic Inc.','url':'https://www.gratomic.ca','description':'Gratomic Inc is an advanced materials company. It is focused on low-cost mine to market commercialization of carbon-neutral, eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. The company is in the process of solidifying its plans for the micronization, spheronization, and coating of its Aukam vein graphite. The company is engaged in the acquisition and exploration of assets located primarily in Canada and Namibia.','tickerSymbol':'TSXV:GRAT','sameAs':[],'image':'https://investingnews.com/media-library/tsxv-grat.jpg?id=27771440&width=980','logo':'https://investingnews.com/media-library/tsxv-grat.jpg?id=27771440&width=210'}            




Company Profile






Weekly gain: 33.33 percent
Market cap: C$13.02 million
Share price: C$0.06


​


Gratomic is a junior graphite development and exploration company with assets in Namibia, Canada and Brazil. 


Its primary project is the Aukam graphite property, located near the port of Luderitz in Southern Namibia. It covers an area of 141,500 hectares and has been granted four prospecting licenses. The site hosts an existing 7,200 metric ton per year modular processing plant, with the capability to be upgraded to 22,000 metric tons per year.


Gratomic has been working to create stockpiles at the Aukam mine as it starts to ramp up production. During the commercial commissioning phase of the plant, the company produced 300 metric tons of graphite.


Gratomic shared an update on the project on November 21, and announced the appointment of new Chief Operating Officer and Director Hermanus Manuel Silver.


“We have already started working on a business plan which we plan to implement in December 2024 to set the stage for greater strategic advancement of the asset and the processing plant,” he said.


The company’s most recent news came on December 11, when it alleged that its former chief operating officer had wrongfully transferred some of its mining claims at its Capim Grosso property in Brazil to another graphite company. It has yet to be approved by the country’s mining authority, and Gratomic is seeking legal advice. The company stated that it had made significant investments in the transferred claims, and it plans to sell the property if it can recover it. 


Gratomic had previously allowed other mining claims at its Capim Grosso property to expire as it said further exploration and development costs at the site were not justified and would drain company resources.​








                            FAQs for Canadian mining stocks                                






                            What is the difference between the TSX and TSXV?                                


The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.






                            How many companies are listed on the TSXV?                                


As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.


Together the TSX and TSXV host around 40 percent of the world’s public mining companies.






                            How much does it cost to list on the TSXV?                                


There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.


The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.


These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.






                            How do you trade on the TSXV?                                


Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.




Article by Dean Belder; FAQs by Lauren Kelly.


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


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




This post appeared first on investingnews.com



		
				
			
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Stock Futures Lower after S&P 500 futures ticked down 0.18%

						
					  
						
						Economy
					
					  3 Mins Read

			

	
				
						
				
	

		
	


	

		
		


Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.


November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.


As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.


S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.


S&P 500 Index Chart Analysis




This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.


On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.


The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.


In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.


The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.





		
				
			
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S&P 500 climbed 0.3%, and Nasdaq-100 futures  jumped 0.7%

						
					  
						
						Economy
					
					  3 Mins Read

			

	
				
						
				
	

		
	


	

		
		


Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.


Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.


This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.


However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.


S&P 500 Index Chart Analysis




Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:


The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.


Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.


The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.


In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.


The post S&P 500 climbed 0.3%, and Nasdaq-100 futures  jumped 0.7% appeared first on FinanceBrokerage.





		
				
			
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Trump transfers all his DJT shares to his revocable trust, SEC filings show

						
					  
						
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					  3 Mins Read

			

	
				
						
				
	

		
	


	

		
		
President-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed Thursday evening.


Trump did not receive any money for the gift of his 114,750,000 shares of Trump Media stock to the Donald J. Trump Revocable Trust on Tuesday, according to a filing with the Securities and Exchange Commission.




Because Trump is the beneficiary of the trust, he now “indirectly” owns the Trump Media shares he transferred, the SEC filing noted.


The president-elect’s son, Donald Trump Jr., is the sole trustee of the trust, and has sole voting and investment power over securities held by the entity, according to a separate SEC filing Thursday.


Trump Media, which trades under the DJT ticker, closed at $35.41 per share Thursday, making the value of the transferred stock more than $4 billion.


Trump, who is set to be sworn in as president for a second non-consecutive term on Jan. 20, had been the largest individual shareholder in the social media company, which operates the Truth Social app. His stake represented nearly 53% of the company’s outstanding shares.


CNBC has requested comment on the transfer from spokespeople for Trump and for Trump Media.


The SEC filing on Thursday said that after the Trump transferred his shares, he “directly owned 0 shares of Trump Media & Technology Group Corp. and indirectly owned 114,750,000 shares of Trump Media & Technology Group Corp.”


“The reporting person [Trump] is the settlor and sole beneficiary of the Trust,” the filing said.


The type of transfer Trump used this week is not new for the president-elect, although the dollar value of his shares outpaces the value of any assets he previously moved.


Before his first inauguration as president in 2017, Trump made similar transfers to the same revocable trust.


At that time, Trump transferred various real estate holdings, assets and liabilities to the trust, according to reports produced by Mazars, which then was his accounting firm.


He also made transfers to the trust in February 2016, when he was campaigning for president.


Trump has not held an executive position in Trump Media, whose shares began public trading earlier this year after the then-privately held company merged with a public company, Digital World Acquisition Corp.


Trump has nominated two Trump Media’s board members to high-level positions in his administration.


Trump tapped former pro-wrestling mogul Linda McMahon as his pick for education secretary, and Kash Patel, a former Trump White House official, to become the next FBI director.


Trump also recently named Trump Media CEO Devin Nunes to chair the President’s Intelligence Advisory Board.


That position does not require Senate confirmation.


Trump has said that Nunes, who previously represented a California district in the House of Representatives, will remain CEO of Trump Media.




This post appeared first on NBC NEWS



		
				
			
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OpenAI is done with Shipmas and staring down daunting challenges for 2025

						
					  
						
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					  7 Mins Read

			

	
				
						
				
	

		
	


	

		
		
OpenAI’s “12 Days of Shipmas,” which wrapped up on Friday, brought a sense of levity to end the year. The marketing blitz served as a way for the high-profile and controversial AI startup to show it can release an extensive roster of new features and tools while also having some fun.


But when the calendar turns, the company faces some serious challenges. Most notably, there’s co-founder Elon Musk, who now runs rival startup xAI, and is in the midst of a heated legal battle with OpenAI CEO Sam Altman that could have a big impact on the company’s future.




The threat Musk poses to OpenAI is even more significant considering the hefty amount of influence the world’s richest person is poised to assume as part of the incoming Trump administration.


In recent months, Musk has sued Microsoft-backed OpenAI and asked a court to stop the company from converting to a for-profit corporation from a nonprofit. In posts on X, he described that effort as a “total scam” and claimed that “OpenAI is evil.” At The New York Times’ DealBook Summit earlier this month, Altman said he views xAI as a “fierce competitor.”


The pressure on OpenAI is tied in large part to its $157 billion valuation, achieved in the two years since the company launched its viral chatbot, ChatGPT, and kicked off the boom in generative AI. OpenAI closed its latest $6.6 billion round in October, gearing up to aggressively compete with xAI as well as Microsoft, Google, Amazon and Anthropic in a market that’s predicted to top $1 trillion in revenue within a decade.


Alongside the drama swirling around OpenAI and Altman, the Shipmas shtick served as a way for the company to shift the focus to its technology and generate buzz for its products.


The most significant release over the 12 days was the public launch of Sora, OpenAI’s much-hyped video-generation tool, on Dec. 9.


Using Sora, which OpenAI first announced in February, is relatively simple: A user types out a desired scene, and the engine will return a high-definition video clip. Sora can also create clips inspired by still images and extend existing videos or fill in missing frames. While other AI video tools are available, Sora has been by far the most anticipated because of the power of OpenAI’s large language models.


On Wednesday, OpenAI gave users a new way to talk to its viral chatbot: 1-800-CHATGPT. Those in the U.S. can dial the number (1-800-242-8478) for 15 minutes free per month, OpenAI said, and WhatsApp users globally can message the chatbot at the same number.


Other announcements included the full release of OpenAI’s new o1 AI model focused on reasoning, a demo of video and screen-sharing options in ChatGPT’s Advanced Voice Mode, the ability to organize work into “Projects” within ChatGPT, a wider rollout of ChatGPT Search and new developer tools. The company also used the marketing push to talk about its integration with Apple for the iPhone, iPad and macOS.


OpenAI closed out its 12-day run of releases on Friday by announcing its newest frontier model, o3, as well as o3 mini. On a livestream, Altman said the company would not publicly launch the models Friday but would make them immediately available for public safety testing.


The company launched o1 in September, and in skipping straight to o3, Altman said he’s continuing “the grand tradition of OpenAI being really, truly bad at names.”


The campaign was celebrated in some corners for the company’s ability to make a strong year-end push, and criticized by others as significantly more hype than substance. Either way, OpenAI is well aware that competition is heating up — and quickly.


One of its chief rivals, Amazon-backed Anthropic, was founded by early OpenAI researchers and has been attracting top talent. In May, OpenAI safety leader Jan Leike left OpenAI for Anthropic, and in August, OpenAI co-founder John Schulman announced he was leaving to join the rival startup. They were part of a wave of departures that culminated in September, when three top leaders, most notably technology chief Mira Murati, announced their exits on the same day.


A recent report by Anthropic investor Menlo Ventures found that OpenAI ceded market share this year in enterprise AI, declining from 50% to 34%, while Anthropic doubled its market share from 12% to 24%. The results came from a survey of 600 enterprise IT decision-makers from companies with 50 or more employees, according to the report.


One key area where the two companies appear poised to go head-to-head is in defense, as AI companies walk back earlier bans on military use of their products and enter into partnerships with big players in the industry and the U.S. Department of Defense.


The day before OpenAI’s Shipmas event began, the company announced a partnership with Anduril, allowing the defense tech provider to deploy advanced AI systems for “national security missions.” Last month, Anthropic and defense software vendor Palantir announced a partnership with Amazon Web Services to “provide U.S. intelligence and defense agencies access” to Anthropic’s AI systems.


The primary battle, though, is still for users. Altman said publicly earlier this month that OpenAI now has 300 million weekly active users. Over the next year, the company is reportedly targeting 1 billion.


That level of growth will likely require a pricey marketing push and fast-tracked feature launches, as the company advances in its two-year timeline for transitioning from a nonprofit into a fully for-profit company. Earlier this month, OpenAI announced it had hired its first chief marketing officer, nabbing Kate Rouch from crypto company Coinbase.


Then there’s the increasingly complicated relationship with Microsoft, OpenAI’s lead investor and key cloud provider. While both companies continue to tout the value of their close partnership, there are increasing signs of tension.


Following Altman’s abrupt but short-lived ouster from OpenAI late last year, reports surfaced that Microsoft CEO Satya Nadella was not briefed beforehand. After Altman was quickly reinstated, OpenAI gave Microsoft a non-voting board seat. Microsoft relinquished the position in July.


In March, Nadella brought on Mustafa Suleyman, who had co-founded AI research company DeepMind and sold it to Google in 2014. Suleyman, later co-founded and led startup Inflection AI, and was effectively acquihired by Microsoft.


In its annual report published in July, Microsoft named OpenAI as a competitor, adding the company to a roster that for years has included megacap peers Amazon, Apple, Google and Meta. And in October, OpenAI debuted a search feature within ChatGPT that positions it to better compete with search engines like Google and Microsoft’s Bing.


But the thorniest issue heading into the new year likely involves Musk, who has been a fixture at President-elect Donald Trump’s Mar-a-Lago resort in Florida since the election.


Trump has said in the past that he would repeal President Joe Biden’s AI executive order, issued in October 2023, which introduced new safety assessments, equity and civil rights guidance and research on AI’s impact on the labor market.


Musk is set to to lead the Trump administration’s Department of Government Efficiency (DOGE), which is expected to function as an advisory office, alongside onetime Republican presidential candidate Vivek Ramaswamy. His new role could give Musk, who also runs Tesla and SpaceX and owns social media company X, influence over federal agencies’ budgets, staffing and regulations in ways that favor his companies.


“Starting to feel like The @DOGE has real potential,” Musk posted on X last month.


OpenAI did not provide a comment for the story, and Musk didn’t respond to a request for comment.




This post appeared first on NBC NEWS



		
				
			
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Starbucks union announces strike to last through Christmas Eve in 3 major cities

						
					  
						
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Love Starbucks holiday drinks? This week, you may not get them. 


Starbucks Workers United announced baristas will strike starting Friday in three key markets — Seattle, Los Angeles and Chicago. 




The union said the move is in response to the coffee chain’s “failure to bring viable economic proposals to the bargaining table” and “to resolve hundreds of outstanding unfair labor practice charges.”


The union, which started organizing in 2021, represents 525 union stores and over 10,500 union workers, according to its website. Starbucks has nearly 10,000 company-owned U.S. stores, The Associated Press reports.


“Since February, Starbucks has repeatedly pledged publicly that they intended to reach contracts by the end of the year — but they’ve yet to present workers with a serious economic proposal,” the group wrote on X. “This week, less than two weeks before their end-of-year deadline, Starbucks proposed no immediate wage increase for union baristas, and a guarantee of only 1.5% wage increases in future years.”


The group said baristas starting Friday morning will embark on five days of escalating strikes that could spread to other cities through Christmas Eve “unless Starbucks honors our commitment to work towards a foundational framework.”


Starbucks, which is headquartered in Seattle, Washington, told NBC News there has been “no significant impact” to its store operations. 


“We are aware of disruption at a small handful of stores, but the overwhelming majority of our US stores remain open and serving customers as normal,” the company said.


In a Tuesday press release the union said it and Starbucks had announced a path forward earlier this year and have advanced dozens of tentative agreements at the table, but “Starbucks has yet to bring a comprehensive economic package to the bargaining table.”


“Starbucks can’t get back on track as a company until it finalizes a fair contract that invests in its workforce. Right now, I’m making $16.50 an hour. Meanwhile, Brian Niccol’s compensation package is worth $57,000 an hour,” Silvia Baldwin, a Philadelphia barista and bargaining delegate, said in a statement referring to Starbucks’ CEO. 


“The company just announced I’m only getting a 2.5% raise next year, $0.40 an hour, which is hardly anything. It’s one Starbucks drink per week. Starbucks needs to invest in the baristas who make Starbucks run,” she added.


A Starbucks spokesperson said Workers United delegates “prematurely ended our bargaining session this week.”


Starbucks argued that it offers a “competitive average pay of over $18 per hour, and best-in-class benefits” such as health care, college tuition, paid family leave, and company stock grants.


“Workers United proposals call for an immediate increase in the minimum wage of hourly partners by 64%, and by 77% over the life of a three-year year contract. This is not sustainable,” the company said. 


Starbucks said it is ready to continue negotiations.


It comes as the Teamsters union announced Thursday strikes at several Amazon delivery facilities, amid the peak holiday delivery rush. 




This post appeared first on NBC NEWS



		
				
			
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