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Fitch gives shocking projection for Nigeria’s naira, Forex futureWASHINGTON (AP) — President Joe Biden said Sunday that the U.S. government believes missing American journalist Austin Tice, who disappeared 12 years ago near the Syrian capital, is alive and that Washington is committed to bringing him home after Bashar Assad’s ouster from power in Damascus. “We think we can get him back,” Biden told reporters at the White House, while acknowledging that “we have no direct evidence” of his status. “Assad should be held accountable.” Biden said officials must still identify exactly where Tice is after his disappearance in August 2012 at a checkpoint in a contested area west of Damascus. “We’ve remained committed to returning him to his family,” he said. Tice, who is from Houston and whose work had been published by The Washington Post, McClatchy newspapers and other outlets. A video released weeks after Tice went missing showed him blindfolded and held by armed men and saying, “Oh, Jesus.” He has not been heard from since. that it was holding him. The United States has no new evidence that Tice is alive, but continues to operate under the assumption he is alive, according to a U.S. official. The official, who was not authorized to comment publicly and spoke on condition of anonymity, said the U.S. will continue to work to identify where he is and to try to bring him home. His mother, Debra, said at a news conference Friday in Washington that the family had information from a “significant source,” whom she did not identify, establishing that her son was alive. “He is being cared for and he is well — we do know that,” she said. The Tice family met this past week with officials at the State Department and the White House. “To everyone in Syria that hears this, please remind people that we’re waiting for Austin,” Debra Tice said in comments that hostage advocacy groups spread on social media Sunday. “We know that when he comes out, he’s going to be fairly dazed & he’s going to need lots of care & direction. Direct him to his family please!”Not for distribution to U.S. news wire services or dissemination in the United States. TORONTO, ON / ACCESSWIRE / December 13, 2024 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) announces that, further to its news release dated October 31, 2024 , it has closed the first tranche of the Company's non brokered private placement (the "Offering") issuing an aggregate of 5,837,000 common shares ("the "Shares") at $0.10 per share for gross proceeds of C$583,700. The Company also announces that it has obtained an additional 30-day extension from the TSX Venture the "TSXV") Exchange to close a second tranche of the Offering. The final closing and filing acceptance of all documentation required by the TSXV in respect of the Offering has been extended from December 13, 2024, to January 13, 2025. The Shares issued under the Offering will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities for Canadian subscribers and six months from the date of issuance for U.S. subscribers. Under the Offering, directors of the Corporation have subscribed for a total of 3,737,000 Shares for a total consideration of C$373,700, which constitutes a "related party transaction" within the meaning of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101") and TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions. However, the directors of the Corporation who voted in favor of the Offering have determined that the exemptions from formal valuation and minority approval requirements provided for respectively under subsections 5.5(a) and 5.7(1)(a) of Regulation 61-101 can be relied on as neither the fair market value of the Shares issued to this insider, nor the fair market value of the consideration paid exceeded 25% of the Corporation's market capitalization. None of the Corporation's directors have expressed any contrary views or disagreements with respect to the foregoing. A material change report in respect of this related party transaction will be filed by the Corporation but could not be filed earlier than 21 days prior to the closing of the Offering, due to the fact that the terms of the participation of each of the non-related parties and the related parties of the Offering were not confirmed. The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Electric Metals (USA) Limited Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUSF) is a US-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. The Company's principal asset is the Emily Manganese Project in Minnesota, the highest-grade manganese deposit in North America, which has been the subject of considerable technical studies, including National Instrument 43-101 Technical Reports - Resource Estimates. The Company's mission in Minnesota is to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, the State of Minnesota and for the Company's shareholders. For further information, please contact: Electric Metals (USA) Limited Brian Savage CEO & Director (303) 656-9197 or Valerie Kimball Director Investor Relations 720-933-1150 info@electricmetals.com Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Such statements in this news release include, without limitation: the ability of the Company to complete the Offering; the size, terms and timing of the Offering; participation in the Offering by insiders of the Company; the timing and receipt of TSXV and other approvals required in connection with the Offering; the intended use of proceeds of the Offering; the Company's mission to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets; that manganese will continue to play a critical and prominent role in lithium-ion battery formulations; that with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, Minnesota and for the Company's shareholders; and planned or potential developments in ongoing work by Electric Metals. These statements address future events and conditions and so involve inherent risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, the failure to obtain all necessary stock exchange and regulatory approvals; investor interest in participating in the Offering; and risks related to the exploration and other plans of the Company. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, updated conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Electric Metals (USA) Limited View the original on accesswire.comCanadian freestyle skier star Mikael Kingsbury is juggling both moguls and fatherhood. The 32-year-old Olympic and world champion from Deux-Montagnes, Que., opens his World Cup season Saturday in Ruka, Finland, with partner Laurence Mongeon and their infant son Henrik in tow. Henrik was born Aug. 25. “It changes your life, that’s for sure,” Kingsbury said Tuesday from Ruka in a media conference call. “Get used to waking up in the middle of the night, but at the same time, it is the most beautiful thing in the world. “It brings a beautiful balance to my career.” While Kingsbury acknowledges there are great hockey players named Henrik, he says the inspiration for the name was his niece liking a boy named Henrik in her kindergarten class. “I always liked the name anyway,” Kingsbury said. “Laurence and I agree it fits his face. “I didn’t ski as much this summer because I wanted to be home and I wanted to be present. We’re five weeks on the road for the start of this season, so I couldn’t see myself doing five weeks without seeing my kid. “I would have missed my family too much, so I brought them on the road for three weeks.” Regarded as the most dominant moguls skier of all time, the Canadian achieved another significant milestone last season when he surpassed Swedish alpine skier Ingemar Stenmark for the most all-time World Cup victories by a male athlete in any ski discipline. Kingsbury embarks on his 16th World Cup season with a career 90 victories. He’s finished in the medals in 129 of 151 career World Cup starts. But while Kingsbury claimed last season’s dual moguls crown, Japan’s Ikuma Horishima challenged Kingsbury’s reign by claiming his first crystal globe in moguls. “The mindset is still the same. The goals are still the same,” Kingsbury said. “Coming into the season, I want to focus on one race at a time. That’s how you get to a crystal globe. “The main focus is being consistent, staying healthy to start the season, try to get the momentum of the start and stay healthy until the end of this season. “I usually start strong, and I can finish very strong, and that’s how you win crystal globes.” Kingsbury won an Olympic moguls gold medal in 2018 and silver in both 2014 and 2022. Dual moguls makes its Olympic debut in 2026 in Milan-Cortina, Italy. Kingsbury has swept both moguls and dual moguls gold medals in three straight world championships. He’ll attempt the double a fourth time March 18-21 in Engadin, Switzerland. “Henrik and my family now are my priority and skiing comes second, but I know I can still win,” Kingsbury said. “It’s going to be different. My family is going to be home and it might be a bit more difficult, but at the same time I see a lot of positive in being a dad. I feel way more relaxed on the mountain.” One secret to Kingsbury’s success has been his durability. His only major injury hiccup so far was fracturing two vertebrae in his back training in Ruka ahead of the 2020-21 season. Kingsbury sat out the first three World Cups and won the fourth upon return to action. He’s closer to the end of his career than the beginning, so quality training, not quantity, is important to him. “As I get older, I cannot do too much, but I’ve got to do the right amount and make sure I can peak in 2026,” he explained. “The challenge is going to be the best dad I can and the best skier I can and try to manage in the middle. It’s never going to be perfect, but I’m to do as best as I can and make sure I’m ready in 2026. “I feel fortunate for all the team (members) that I have around me, teammates, and all the coaches and staff that are working with me. They’re going to make my life easy when it’s going to be difficult.” This report by The Canadian Press was first published Nov. 26, 2024.
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Article content B.C.’s new health minister says she’s aiming for more treatment beds and fewer deaths in a revamped approach to the province’s drug overdose crisis. It comes after David Eby’s new government eliminated the stand-alone Ministry of Mental Health and Addictions, which advocates say had no teeth. The ministry was created in 2017 to provide co-ordinated responses to the toxic drug crisis, which has killed more than 15,000 people in the past eight years, but it has now been absorbed into the Health Ministry. “Certainly, I really do think the time is right to fold the ministry back into the Ministry of Health,” said Josie Osborne, who was appointed health minister last week. “I think we’re in a much better position to expedite action and decision making,” Osborne said. “The premier’s been very clear he expects an all-of-government approach to this.” The B.C. Coroners Service says 1,749 people have died of toxic drug overdoses so far this year. Last year the service reported 2,551 overdose deaths, the most recorded in a single year in the province. “We are going to do everything possible that we can to reduce the number of deaths and the impacts on people and families,” Osborne said. “This is one of the toughest challenges our government, our society, that B.C. faces and one of our government’s top priorities. The key here is helping people and doing everything we can from all different approaches to reduce the number of deaths and to help people recover and be well.” B.C. drug policy advocates who are calling on the government to support more safe supply and drug decriminalization policies say they will watch for signs that the changes, and Osborne’s appointment, result in shifts in direction and approaches. “It’s good because the Ministry of Mental Health and Addictions wasn’t ever really set up to succeed,” said DJ Larkin, executive director of the Canadian Drug Policy Coalition and an adjunct professor at the faculty of health sciences at Simon Fraser University. “It didn’t have the budget or the authority to do what needed to happen and it set expectations they couldn’t meet,” Larkin said. “It didn’t have the teeth. That sets up people for disappointment because they gather the data. They get the expert input. They get the ideas, but they didn’t have the teeth to make it happen.” Leslie McBain, co-founder of Moms Stop the Harm, a harm-reduction advocacy group, said she’s looking forward to the ministry change because “we have not got very far in terms of the toxic drug crisis.” She said she believed the Ministry of Mental Health and Addictions was “a little bit hooped,” because it had little power. “I’m optimistic now, of course,” said McBain. “I think change is better than being stuck in a place where there hasn’t been great movement. These seven or eight years we’ve been waiting for things to improve and they have not. So, with a change, there’s hope.” But Larkin and McBain, whose son Jordan died of an overdose more than a decade ago, say they will continue to push Osborne and the NDP government to support efforts to back decriminalization and a safer supply of drugs. The government flatly rejected calls from the province’s chief coroner Lisa Lapointe earlier this year to provide non-prescription access to controlled drugs. It also partly rolled back a decriminalization pilot project after political and public outcry over open drug use. “Decriminalization has been basically gutted by the premier,” McBain said. “It needs to be strengthened rather than gutted for people to be able to use drugs safely.” “There are hundreds and hundreds of thousands of people every year who use unregulated drugs. That is the source of this problem. If we want to save heath care dollars, policing dollars and reinvest in communities, we need to deal with the unregulated drug supply, and that means changing the law,” Larkin said. Osborne acknowledged the issues of decriminalization, safe supply and involuntary care, but said as a new minister she is looking to address the overdose crisis by reaching out to agencies, communities and people. “Right now what’s ahead of me is learning about and listening to people, communities and all the agencies and organizations to understand the real on-the-ground impacts of different approaches to this,” she said.
Target stock tanks as customers keep spending in checkWASHINGTON (AP) — President Joe Biden said Sunday that the U.S. government believes missing American journalist Austin Tice, who disappeared 12 years ago near the Syrian capital, is alive and that Washington is committed to bringing him home after Bashar Assad’s ouster from power in Damascus . “We think we can get him back,” Biden told reporters at the White House, while acknowledging that “we have no direct evidence” of his status. “Assad should be held accountable.” Biden said officials must still identify exactly where Tice is after his disappearance in August 2012 at a checkpoint in a contested area west of Damascus. “We’ve remained committed to returning him to his family,” he said. Tice, who is from Houston, has had his work published by The Washington Post, McClatchy newspapers and other outlets. A video released weeks after Tice went missing showed him blindfolded and held by armed men and saying, “Oh, Jesus.” He has not been heard from since. Syria has publicly denied that it was holding him. The United States has no new evidence that Tice is alive, but continues to operate under that assumption, according to a U.S. official. The official, who was not authorized to comment publicly and spoke on condition of anonymity, said the U.S. will continue to work to identify where he is and to try to bring him home. His mother, Debra, said at a news conference Friday in Washington that the family had information from a “significant source,” whom she did not identify, establishing that her son was alive. “He is being cared for and he is well — we do know that,” she said. The Tice family met this past week with officials at the State Department and the White House. “To everyone in Syria that hears this, please remind people that we’re waiting for Austin,” Debra Tice said in comments that hostage advocacy groups spread on social media Sunday. “We know that when he comes out, he’s going to be fairly dazed and he’s going to need lots of care and direction. Direct him to his family please!” More articles from the BDNNone
Nov. 21 was a big day for Pentagon defense contracts -- and for Boeing (NYSE: BA) in particular. The U.S. Air Force, Navy, and Defense Logistics Agency made three separate contract awards to the giant defense contractor -- for the production of refueling tankers and maritime surveillance aircraft, and for maintenance work on V-22 Osprey tilt-rotor planes. These contracts allocated just under $4.7 billion in funding, making for one of Boeing's most lucrative business days of the year. On that very same day, though, a smaller U.S. Army award was allocated to another defense company, with which you may be less familiar. Based in Huntsville, Alabama, Dynetics is a one-time private aerospace company that defense tech specialist Leidos (NYSE: LDOS) snapped up for $1.7 billion in late 2019. Five years later, the Army has awarded this Leidos subsidiary $670.5 million in a single contract, to conduct research and development on hypersonic missiles. Are You Missing The Morning Scoop? Wake up with Breakfast news in your inbox every market day. Sign Up For Free » What you need to know about Leidos Reporting on the award, The Defense Post noted that Dynetics is part of a team of contractors led by Lockheed Martin , working on long-range hypersonic weapons (LRHWs) for the Army, and conventional prompt strike (CPS) hypersonic missiles for the Navy. The Pentagon's contract award contained few details on Dynetics' assignment, noting only that it involves the "glide body and thermal protection system" for hypersonic weapons systems. But the Pentagon did mention that although the Army published a broad invitation for bids for its hypersonics work, only one company felt qualified enough to bid on it: Dynetics (which now means Leidos). And that caught my interest. I've been following Leidos as a defense stock for some years now. I discussed the stock briefly earlier this year when surveying valuations (and concluding that, by and large, defense stocks cost too much ); I noted that among 10 large defense stocks, Leidos stood out as the single best-performing defense stock in the U.S., having more than tripled in share price over the last seven years. Even more interesting is Leidos' potential to keep on outperforming the rest of the defense industry. Valuing Leidos Consider: From 2003 through 2023, the valuation of Leidos stock averaged an enterprise-value-to-free-cash-flow (EV/FCF) ratio of 1.3. That's similar to the stock's current enterprise-value-to-sales (EV/S) ratio of 1.6, and price-to-sales (P/S) of 1.4. Meanwhile, the average defense stock today has an EV/S of 2.2 and a P/S of 1.8. Compared to others in the industry, Leidos' stock looks relatively cheap. Leidos also looks attractive when considered on its own merits. Valued at just under $22 billion in market capitalization, for example, the stock sells for a relatively attractive price-to-earnings (P/E) ratio of just 18.2. Relative to its 15.4% long-term expected earnings growth rate and its 1% dividend yield, that gives the stock a total return ratio of 1.1 -- within 10% of "fair value." Additionally, strong free cash flow (relative to reported net income) gives the stock a price-to-free-cash-flow (P/FCF) ratio of 17.4. Substituting FCF for net income gives the stock a total return ratio even closer to fair value. Is it time to buy Leidos stock? While all these calculations suggest that Leidos isn't quite "cheap" just yet, it does appear to be cheaper than almost any other defense stock. At the same time, Leidos is coming off a strong third-quarter earnings report: It featured better than expected sales and earnings, an upwards revision to guidance, and (perhaps best of all) confirmation of tremendous momentum in contract wins. New contracts won during the quarter (bookings) outmassed bills for work performed (billings, or revenue) by nearly 2 to 1. (To be precise, the company's book-to-bill ratio was 1.9.) And this was before Leidos was awarded its new $670.5 million hypersonics contract, which arrived after the close of the quarter. Viewed in light of the stock's already defensible valuation -- one verging on bargain territory -- the company's strong bookings performance in Q3, plus its big hypersonics win early in Q4, all suggest that big things lie ahead for Leidos. While not a bargain yet, it's close enough to fair value to be worth watching in case the stock market suffers a pullback. Should you invest $1,000 in Leidos right now? Before you buy stock in Leidos, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Leidos wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $872,947 !* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of December 2, 2024 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . History Suggests This Defense Stock Will Outperform the Defense Market was originally published by The Motley Fool
EW COURT UPDATE: The Edwards Lifesciences Class Action Deadline is December 13 –Investors with Losses are Urged to Contact BFA Law (NYSE:EW)VANCOUVER, British Columbia, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Company”) announces the filing of its financial statements and management’s discussion and analysis (“MD&A”) for the three month and nine months ended October 31, 2024 (“Q3 2025”). Dave Anthony, President and CEO stated, “We are pleased to report another solid quarter with significant growth in adjusted EBITDA, reflecting the positive impact of ongoing business improvement initiatives at Bibiani and Chirano, combined with the substitutional leverage our operations have to higher gold prices. The relocation of the Bibiani-Goaso highway was a critical milestone for unlocking further growth at Bibiani, and development of the Russel Starter Pit underlines the district-scale opportunities we have in front of us. Both of these developments justify accelerated stripping in the near term, with a corresponding increase in all-in-sustaining costs to unlock their potential. Execution of the sulphide treatment plant project at Bibiani, which is expected to increase gold recovery to 92%, remains on track with commissioning planned for March 2025. And at Chirano, metallurgical and throughput projects are starting to pay off. We were also pleased to update the market on a comprehensive package of non-dilutive finance initiatives to fund the organic growth embedded in our operations, and we look forward to providing further updates on our progress in the near term.” All dollar figures are in United States dollars unless otherwise indicated. A summary of the financial and operating results for fiscal Q3 2025 are presented in this news release. For a detailed discussion of results for the third quarter please refer to the MD&A filed on SEDAR+ at www.sedarplus.ca and Asante’s website at www.asantegold.com . Quarter ended October 31, 2024 Summary Financial Results Asante’s revenue for the three months ended October 31, 2024 was $111 million, a 15% increase from $96 million in the same period in 2023. The increase in revenue is attributable to an increase in average gold price realized per ounce of $2,347 for the three months ended October 31, 2024, compared to $1,859 in the same period in 2023. This was partially offset by a decrease in ounces sold of 43,273 for the three months ended October 31, 2024 compared to 50,573 ounces sold in the same period in 2023. Asante’s revenue for the nine months ended October 31, 2024, was $339 million, a 15% increase from $295 million for the same period in 2023. Adjusted EBITDA for the three and nine months ended October 31, 2024 was $17,552 and $50,423, respectively, compared to $1,968 and negative $19,457 in the same periods of the prior year. The positive adjusted EBITDA and increase in revenue reflect the rise in gold prices to near all-time highs. The Company produced 45,273 gold equivalent ounces for the three months ended October 31, 2024, compared to 46,525 gold equivalent ounces in the same period in 2023. The decrease in gold production was primarily the result of lower feed grades, and lower recovery at Bibiani. Asante produced 145,632 gold equivalent ounces for the nine months ended October 31, 2024 compared to 155,532 in the same period in 2023. Consolidated AISC increased by 26% for the three months ended October 31, 2024 compared to the same period in 2023 primarily due to additional costs at Bibiani resulting from the start of mining at the new Russell satellite pit, plus increased stripping in the Main Pit, lower grade ore and reduced recovery. Consolidated AISC decreased by 5% for the nine months ended October 31, 2024 compared to the same period in 2023. This decrease was mainly attributed to lower sustaining capital and reduced mining costs per ounce sold at Bibiani, as a result of decreased waste mining earlier in the year. Bibiani Mine – Summary of the quarter ended October 31, 2024 Results In the three and nine months ended October 31, 2024, ore mined decreased 57% and 27% compared to the same periods in 2023 primarily due to fleet availability issues caused by funding constraints. Gold equivalent ounces produced was 12,309 in the three months ended October 31, 2024, compared to 16,459 in the same period of 2023, and decreased to 47,945 in the nine months ended October 31, 2024, from 53,811 in the same period of 2023. This decrease was mainly due to the lower feed grade of plant feed, including the low-grade stockpile draw, and a higher proportion of sulphide ore processed without the benefit of a sulphide treatment plant, which continues to limit gold recovery. Construction of the Company’s sulphide treatment plant is underway, and is scheduled for completion in the first half of 2025, contingent on the availability of sufficient funding. AISC increased to $3,115 per ounce in the three months ended October 31, 2024, compared to $1,884 per ounce in the same period of 2023, primarily due to elevated stripping requirements and lower grade ore processed. AISC decreased to $2,286 per ounce in the nine months ended October 31, 2024, compared to $2,588 per ounce in the same period of 2023, driven by lower sustaining capital resulting from decreased waste mining requirements earlier in the year. Bibiani Outlook For the fiscal year ending January 31, 2025, the Company expects production of 52,500 to 57,500 gold equivalent ounces. For fiscal year ending January 31, 2026, the Company plans to execute on its growth strategy which includes: Expansion of the Bibiani main pit through acceleration of its waste stripping program, which is expected to significantly increase production through access to higher grade ore Construction and commissioning of the sulphide treatment plant which is planned to significantly increase gold recovery Plant throughput expansions including installation of a pebble crusher and secondary crusher during 2025 to achieve throughput increase from 3.0 Mt/y to 4.0 Mt/y Plant upgrades to the carbon-in-leach circuit Community relocation, to support main pit expansion through 2030 Road construction connecting Bibiani to Chirano Emergency generator installation during 2025 to function as a secondary power source, ensuring uninterrupted operation and reduced plant downtime Commencement of underground mining. The Underground Mining Feasibility Study was completed in September 2024 and this development program is planned to start for the quarter ended January 31, 2026. Full production from the underground mine is planned for 2028, with delivery of up to 2.6Mt/y at 3.0 g/t Au, through 2038. External financing will be required in order to execute this growth strategy. Subject to the availability of sufficient financing in early calendar 2025, the Company expects to successfully complete the above initiatives and produce between 175,000 and 205,000 gold ounces at Bibiani in the fiscal year ending January 31, 2026, including a significant increase in monthly production in the second half of the fiscal year post advancement of the planned stripping program and completion of the sulphide treatment plant. There can be no certainty that the Company will be successful in securing sufficient financing on a timely basis. Chirano Mine – Summary of the quarter ended October 31, 2024 Results Ore mined increased by 51% in the three months ended October 31, 2024, compared to the same period in 2023, and by 16% in the nine months ended October 31, 2024, compared to the corresponding period in 2023. Ore mined increased due to increased mining activity at the Obra, Mamnao North, Mamnao Central, Sariehu and Sariehu/Mamnao gap open pits, which were in the stripping stage during the three months ended October 31, 2023, as well as increased operations at the Suraw and Obra underground mines. Higher ore grades and increased ore processed contributed to increased gold equivalent ounces produced to 32,964 ounces in the three months ended October 31, 2024 from 30,076 ounces in the same period of 2023. Reduced grade during the nine months ended October 31, 2024 resulted in a decline in gold equivalent ounces produced to 97,687 ounces in the nine months ended October 31, 2024 from 101,721 ounces in the same period of 2023. AISC increased to $2,031 per ounce in the three months ended October 31, 2024, compared to $1,846 per ounce in the same period of 2023, and to $1,905 per ounce in the nine months ended October 31, 2024, compared to $1,892 per ounce in the same period of 2023. This increase was primarily driven by lower gold equivalent ounces sold, higher maintenance costs and higher sustaining capital expenditures in the current reporting period. Chirano Outlook For the fiscal year ending January 31, 2025, the Company expects production of 130,000 to 140,000 gold equivalent ounces. The Company plans to undertake the following initiatives beyond January 31, 2025, which are expected to enhance production and reduce costs in future years: Execution of process plant projects to improve performance and increase the annual mine production rate to 4Mt/annum. This includes CIL agitators and intertank screens upgrade, cyclone system upgrade to improve grinding size control, carbon regeneration system upgrade to improve carbon activity, mill discharge pumps upgrade, gold room electrowinning cells and rectifiers upgrade. Underground development of Obra to the north and at depth (wide orebody) and Suraw underground mines to ensure consistent ore delivery. Underground development of the Akwaaba, Tano and Akoti far south mines to supplement flexibility to ensure robust underground ore delivery. Development of the exploration drifts towards the north to explore and reclassify the resource at Sariehu and Mamnao underground mines as the future underground mines at Chirano. Finalization of the feasibility and bankable studies of the North mine with a conveyor system feeding directly to the process plant Run-of-Mine (“ROM”) pad. Start of Aboduabo open pit oxide mining. Ongoing underground exploration projects at the Suraw, Obra and open pit mine life extension projects at the Sariehu/Mamnao area are progressing as planned. 3D litho-structural modelling at the Obra mine is ongoing to support mine life extension. Based on preliminary budgetary estimates, the Company expects to produce between 155,000 and 175,000 gold ounces at Chirano for the fiscal year ended January 31, 2026. The Company requires external financing to execute planned capital projects and production targets for fiscal 2026, and meet other short-term obligations. The Company continues to pursue a number of financing initiatives, including those outlined in the Company’s news release of October 30, 2024, which it is seeking to conclude by early calendar 2025. There is no assurance that the Company will be able to obtain adequate financing in the future or that such financing will be on terms acceptable to the Company. Qualified Person Statement The scientific and technical information contained in this news release has been reviewed and approved by David Anthony, P.Eng., Mining and Mineral Processing, President and CEO of Asante, who is a "qualified person" under NI 43-101. Non-IFRS Measures This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including “all-in sustaining costs” (or “AISC”), average gold price realized, adjusted EBITDA and working capital. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with Asante’s consolidated financial statements. Readers should refer to Asante's Management Discussion and Analysis under the heading "Non-IFRS Measures" for a more detailed discussion of how Asante calculates certain of such measures and a reconciliation of certain measures to IFRS terms. About Asante Gold Corporation Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle. Additional information is available on the Company’s website at www.asantegold.com . About the Bibiani Gold Mine Bibiani is an operating open pit gold mine situated in the Western North Region of Ghana, with previous gold production of more than 4.5 million ounces. It is fully permitted with available mining and processing infrastructure on-site consisting of a refurbished 3 million tonne per annum process plant and existing mining infrastructure. Asante commenced mining at Bibiani in late February 2022 with the first gold pour announced on July 7, 2022. Commercial production was announced November 10, 2022. For additional information relating to the mineral resource and mineral reserve estimates for the Bibiani Gold Mine, please refer to the 2024 Bibiani Technical Report filed on the Company’s SEDAR+ profile ( www.sedarplus.ca ). About the Chirano Gold Mine Chirano is an operating open pit and underground mine located in the Western Region of Ghana, immediately south of the Company’s Bibiani Gold Mine. Chirano was first explored and developed in 1996 and began production in October 2005. The mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits and the Akwaaba and Paboase underground mines. For additional information relating to the mineral resource and mineral reserve estimates for the Chirano Gold Mine, please refer to the 2024 Chirano Technical Report filed on the Company’s SEDAR+ profile ( www.sedarplus.ca ). For further information please contact: Dave Anthony, President & CEO Frederick Attakumah, Executive Vice President and Country Director info@asantegold.com +1 604 661 9400 or +233 303 972 147 Cautionary Statement on Forward-Looking Statements Certain statements in this news release constitute forward-looking statements, including but not limited to, gold production and AISC forecasts for the Bibiani and Chirano Gold Mines, financing initiatives, estimated mineral resources, reserves, exploration results and potential, development programs, including construction of the Company's sulphide treatment plant, and the timing thereof, and increases in mine-life and gold recoveries, starter pit development and potential synergies between Chirano and Bibiani. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company’s inability to raise the necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader is referred to the Company’s public disclosure record which is available on SEDAR+ ( www.sedarplus.ca ). Although the Company 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 as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.Jinhui Shipping: Third Quarter and Nine Months Report 2024
RAPTORS MAILBAG: Who is out if Cooper Flagg or other top prospect lands in TorontoNEW DELHI: Given the big money, highly educated people are joining cybercrime. The Enforcement Directorate has unearthed a syndicate in Delhi-NCR where a few chartered accountants , company secretaries and crypto traders got together, scripted a cyber fraud racket and collected more than Rs 640 crore. During a search operation between Nov 28 and Nov 30, two CAs - Ajay and Vipin Yadav - and a crypto trader, Jitendra Kaswan, were arrested. Further investigation unearthed a large-scale money laundering racket operated with the assistance of handlers sitting abroad and through closely held chat groups on instant messaging apps. When ED officials raided the premises of CA Ashok Kumar Sharma, in Bijwasan in Delhi last week, associates of the accused attacked the team, injuring an official. The others were saved by CRPF and Delhi Police personnel. The syndicate was engaged in online betting, gambling, part-time jobs, and phishing scams across several states. The money was collected and siphoned off by layering through more than 5,000 mule bank accounts in India, and subsequently, uploaded on " PYYPL ", a UAE-based payment platform. Part of the fraud money was withdrawn in cash in Dubai through Master/Visa Indian Bank ATM cards. ED conducted searches at 13 premises across Delhi, Gurgaon, Jodhpur, Jhunjhunu, Hyderabad, Pune and Kolkata, and recovered hundreds of debit cards, cheque books, ATM cards, PAN cards, digital signatures, trust wallet secret phrases and seized unaccounted cash of Rs 47 lakh and cryptocurrency (USDT) worth Rs 1.36 crore from a private wallet. Several bank accounts have been frozen. "Instructions regarding opening of mule accounts, cash circulation and purchase of crypto were provided on a group messaging account by the handlers. More than 2,000 documents detailing debit/credit transactions in hundreds of bank accounts and purchase of cryptocurrency have been recovered and are being analysed," ED said on Wednesday. The Delhi Police has registered an FIR on the attack on the ED team and arrested Radhe Shyam Sharma, brother of CA Ashok Kumar Sharma who is absconding. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .
Intech Investment Management LLC bought a new stake in Banc of California, Inc. ( NYSE:BANC – Free Report ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,756 shares of the bank’s stock, valued at approximately $748,000. A number of other institutional investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in Banc of California during the 3rd quarter worth about $29,000. Fifth Third Bancorp lifted its stake in Banc of California by 146.3% during the second quarter. Fifth Third Bancorp now owns 2,143 shares of the bank’s stock worth $27,000 after purchasing an additional 1,273 shares during the last quarter. GAMMA Investing LLC lifted its stake in Banc of California by 32.3% during the third quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock worth $44,000 after purchasing an additional 734 shares during the last quarter. Mendon Capital Advisors Corp acquired a new position in Banc of California in the second quarter valued at approximately $102,000. Finally, Simplicity Wealth LLC purchased a new position in Banc of California in the second quarter valued at approximately $132,000. Hedge funds and other institutional investors own 86.88% of the company’s stock. Insiders Place Their Bets In related news, Director Richard J. Lashley sold 75,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.00, for a total transaction of $1,050,000.00. Following the sale, the director now owns 719,826 shares of the company’s stock, valued at approximately $10,077,564. The trade was a 9.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link . 7.37% of the stock is owned by insiders. Analyst Ratings Changes Check Out Our Latest Research Report on BANC Banc of California Stock Performance NYSE BANC opened at $17.26 on Friday. The firm has a market cap of $2.74 billion, a P/E ratio of -4.04 and a beta of 1.13. Banc of California, Inc. has a 52-week low of $11.36 and a 52-week high of $18.08. The business’s 50-day moving average price is $15.45 and its 200 day moving average price is $14.24. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. Banc of California ( NYSE:BANC – Get Free Report ) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.11. The company had revenue of $431.44 million for the quarter, compared to the consensus estimate of $229.46 million. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%. During the same period last year, the business posted $0.30 EPS. On average, equities research analysts expect that Banc of California, Inc. will post 0.7 earnings per share for the current year. Banc of California Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 2.32%. Banc of California’s dividend payout ratio is currently -9.37%. Banc of California Company Profile ( Free Report ) Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes. Further Reading Five stocks we like better than Banc of California Should You Add These Warren Buffett Stocks to Your Portfolio? The Latest 13F Filings Are In: See Where Big Money Is Flowing What is a Special Dividend? 3 Penny Stocks Ready to Break Out in 2025 How to Evaluate a Stock Before Buying FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Receive News & Ratings for Banc of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California and related companies with MarketBeat.com's FREE daily email newsletter .