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Gap’s Stock Defies Gravity: Time To Exploit Its Dynamic Surge?

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Gap Inc.’s (GPS) blowout earnings report last week not only signaled the end of its summer slumber, but catapulted its share price to two-year highs. Last Friday, its shares jumped more than 30%, opening the day with a massive runaway gap.

For a company whose sales have been declining for years, its reported earnings per share of $0.59 blew the doors off analysts’ expectations of a mere $0.19 per share.

But does this signal a comeback or a blip for Gap’s stock price? Can the stock sustain this momentum and possibly move higher? And if it does continue its trend higher, how high can it go before running into major technical headwinds?

First, let’s look at what happened last week (and the price action leading up to it).

CHART 1: DAILY CHART OF GAP STOCK PRICE. After hitting a low in May, Gap’s stock price started showing signs of life, but that post-earnings runaway gap was something else.Chart source: StockCharts.com. For educational purposes.

Gap’s runaway gap is quite pronounced, as it leapt above its 52-week high. However, both the Relative Strength Index (RSI) and volume are indicating that Gap’s momentum is waning, and rapidly so.

The RSI is giving us a reading over 84—placing Gap’s stock price well within overbought territory. And volume since Friday has pulled back significantly, indicating that the buying activity that gave price its upward momentum is quickly drying up. Both indicate the likelihood of a pullback. And if price does decline, we can expect support at the 20-day simple moving average line, which currently coincides with the top price range prior to the post-earning runaway gap.

Scanning for Stocks Gaining Volume

From Your Dashboard or Charts & Tools tab, scroll to the Sample Scan Library and run the Strong Volume Gainers scan. The scan will filter out all the stocks and ETFs that meet the scan criteria.

But there’s another caveat to consider: According to (technical analyst) Thomas Bulkowski’s studies, runaway gaps toward the upside tend to close (or get filled) only 8% of the time within a one-week period. In other words, stocks that experience runaway gaps to the upside have a tendency to keep running.

And if it does, at what level (or range) might Gap’s stock price hit a ceiling? A weekly chart can tell us.

CHART 2: WEEKLY CHART OF GPS. Over a five-year period, the stock hasn’t demonstrated any significant long-term trends.Chart source: StockCharts.com. For educational purposes.

The price level of $23 marks the beginning of a range (extending up to $25) that will likely serve as major resistance to Gap’s upward trajectory, should it manage to go that high. It served as resistance in November 2019 and repelled repeated attempts to close above it in November 2020, and twice again in September and November of 2021. So this is a price level to watch, especially if you happen to be long the stock.

The Bottom Line

Gap’s near-term outlook is mixed-to-negative, with the company expecting Q4 sales to fall year-over-year. But lower commodity costs and the company’s cost-cutting strategies may be enough to see its profits rise over the coming quarters. From the above charts, you can see the lower and upper limits, where prices are likely to bounce either way.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Mark Skousen: This is the Only Way Gold Breaks US$2,000 and Stays There

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Mark Skousen of Forecasts & Strategies recommends investors diversify their portfolios, including gold and silver in the mix. However, he said the yellow metal needs a weak US dollar to break US$2,000 per ounce and stay there.

‘The only way I think gold will break through and stay above US$2,000 is if the dollar becomes weak,’ he said. ‘And the dollar’s not going to become weak until interest rates start coming back down — that will cause the dollar to drop.’

When asked what could prompt the US Federal Reserve to reverse course and take interest rates back down to lower levels, Skousen pointed to the potential for a debt crisis in emerging markets.

‘The dollar is so strong, and most of this emerging market debt for example is all in US dollars, and they’re paying these very high interest rates. They’re not going to be able to pay that off. So I think there’s going to be an emerging market debt crisis. When that happens, the Fed is going to cut interest rates, probably pretty sharply, because of the fear of contagion,’ he said.

‘The US is in no position to have a major recession, because if we do that means the deficit is going to balloon even more — the national debt’s going to get out of hand. So the Fed doesn’t want that, but they may get it nevertheless.’

Looking beyond the US, Skousen mentioned global instability as a major concern. ‘We now have two major wars going on. We could have a third with China and Taiwan. The spreading of world war could be a serious destabilizing factor in the economy. Again very positive for gold and defense stocks and things like that … but we need to be alert to that.’

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

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Could a BRICS Currency be Backed by Gold?

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Gold market participants were watching the BRICS nations closely this past August on the back of rumors that the bloc might announce a new and potentially gold-backed currency at its annual meeting.

Ultimately that didn’t happen, but investors remain curious about whether the BRICS will take that step in the future.

At this year’s New Orleans Investment Conference, well-known author and commentator Jim Rickards shared his thoughts on how a gold-backed BRICS currency could work. Read on to learn about his thoughts.

What are the BRICS nations?

The notion of a bloc of nations helmed by Brazil, Russia, India and China was first posited in 2001 by Goldman Sachs (NYSE:GS) Chief Economist Jim O’Neill. He initially identified the countries for holding important investment opportunities and believed they would come to form a dominant economic power by the middle of the 21st century.

In September 2006, his theory became reality when bilateral meetings between the countries occurred on the sidelines of the UN General Assembly, leading to a series of high-level talks between the nations in the following years.

The first formal meeting of BRICS leaders was held in Russia in 2009 between Luiz Inacio Lula da Silva, president of Brazil; Dmitry Medvedev, former president of Russia; Manmohan Singh, former prime minister of India; and Hu Juntao, formerly both president of China and general secretary of the Communist Party of China. South Africa was a later addition; it was granted full membership at the BRICS’ annual meeting in 2011.

Even though China, India and Russia have long been key players in the global economy, the BRICS nations are largely on the outside of many intergovernmental groups made up of developed nations, including the Group of Seven. BRICS countries don’t have the same influence as their western counterparts, which hold positions at the World Bank and the International Monetary Fund, two key organizations for international trade and global economic policy.

The group formed as a way to encourage more economic growth and cooperation among member countries and developing nations, while requiring less input from western powers.

Follow the money

The BRICS established the New Development Bank (NDB) in 2014 and the Contingent Reserve Arrangement in 2015. These moves were seen largely as a response to the US-controlled and -funded World Bank and the UN’s International Monetary Fund, whose voting rights are determined by the size of members’ economies, not populations — a situation seen as inequitable for the BRICS nations, which together represent more than 3 billion people. Ten years on, both the NDB and Contingent Reserve Arrangement haven’t seen the success originally envisioned.

Talk of a BRICS currency has been ongoing since the establishment of the NDB. The members of the bloc wanted to distance themselves from the US dollar, but still required a currency regime to help ensure stable trade, reduce the need for currency conversions and lower the associated costs, all while hedging against geopolitical instability.

A stable currency would certainly seem to be a boon for a nation like Russia, which following war-related sanctions has been challenged in finding a common currency to do business. The country has been forced to rely on currencies that aren’t as easy to use both globally and with other members of BRICS nations.

When the BRICS countries held their annual meeting in South Africa this past August, the group admitted six new members. Two of these are the energy-rich nations of Saudi Arabia and the United Arab Emirates, which has found itself increasingly at odds with the US over human rights issues and isolationist policies toward Russia and China. Along with Iran, they also represent significant oil reserves, posing a challenge to US dominance over the production of oil. The other nations that joined the BRICS in August are Argentina, Egypt and Ethiopia.

Many economists, analysts and investors have debated how a BRICS currency could be introduced and what it might look like. Some believe it would be backed by a traditional fiat currency like the Chinese yuan, while others — like Rickards — think it could be tied to a commodity like gold.

How would a gold-backed BRICS currency work?

In his talk at the New Orleans’ Investment Conference, Rickards explained how that could happen, using the euro to show how a BRICS currency might operate. He noted that using a common currency doesn’t mean countries need to have a common fiscal policy or bond market; however, this is where the commonality with the euro ends for Rickards, as he doesn’t see a BRICS currency being backed by a central bank. Rather, its value would be tied to gold.

Importantly, he doesn’t believe this would mean a return to the gold standard. “(With) a real gold standard, you can take the currency and go to any one of the central banks and get some gold,” he said. Instead, he believes a BRICS currency would be tied to a certain weight in gold. For example, 1 BRICS currency unit could be tied to the value of 1 ounce of gold.

In Rickards’ view, this won’t mean the end of the US dollar; because gold is traded in the US dollar, a BRICS currency would still have a direct relation to the dollar. “So if gold went up to US$3,000 (per ounce) from US$1,900, what actually happens is a 28 percent gain against the US dollar,” he said on stage at the event.

“With BRICS they don’t have to own any gold, they don’t have to buy any gold, they don’t have to prop up the price. They can just rise on the dollar gold market,” he continued. “What do you think is going to happen to the dollar over time?” Rickards’ implication was that, if a BRICS currency were to gain value against the US dollar, the US dollar would lose value against that currency, essentially destabilizing the US dollar.

Ultimately, Rickards expects the US dollar to collapse. He pointed out that the BRICS+ bloc of 11 nations represents 15 percent of global gold reserves, 30 percent of land, 40 percent of the world’s population and 54 percent of its GDP.

“We’re trading closer to a point where the BRICS are in control of overland routes and choke points around the world,” he said. “Don’t look for the dollar to go away anytime soon, but look for a much higher dollar price of gold, and a much weaker dollar and the BRICS coming into their own.”

Is a BRICS currency possible?

Even though Rickards is steadfast in believing a gold-backed BRICS currency is coming, it’s a sentiment that’s not shared widely in the investment community. O’Neill, who conceptualized the group in 2001, told the Financial Times in August that he thinks a BRICS currency is a non-starter, citing constant infighting between members of the bloc.

While member nations may be searching for ways to facilitate trade and to move away from the US dollar, there’s no guarantee that a BRICS currency is in the cards at all, let alone one linked to gold.

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

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Taxes on Cryptocurrencies

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Cryptocurrencies have grown quickly from a niche technology with a tech-savvy user base to an entirely new asset class that has attracted attention from a broad range of individual investors, as well as mainstream institutions.

You’ll often see cryptocurrencies criticized for being a speculative asset, yet studies show that emerging markets in Africa, South America and Southeast Asia are increasingly using cryptocurrencies as actual currencies. For example, data from a Statista survey showed that one out of three respondents in Nigeria own or use cryptocurrencies, compared to six out of 100 in the US.

While cryptocurrency interest from North American and European investors is largely speculative, steady growth in other markets demonstrates the possibility of overcoming challenges with traditional fiat currencies. Additionally, next-generation cryptocurrencies like Ethereum and Cardano have enabled entirely new technologies with powerful use cases.

As adoption continues, investors are taking another look at cryptocurrencies as a valuable asset class with blue-sky potential.

However, anyone putting their money into cryptocurrencies should be well aware of the tax implications of investing in the asset class and transacting with it. Most countries have enacted some form of tax regulations similar to capital gains laws, which must be understood to avoid steep fines and other penalties. Read on to learn the basics.

How are cryptocurrencies taxed in the US?

The US was one of the first countries to enact cryptocurrency tax regulations, and they closely mirror capital gains and income tax laws with specific taxable events. As a result, it’s well worth consulting the official Internal Revenue Service cryptocurrency FAQ for up-to-date information or to dive deeper into any of the information below.

Taxable crypto events include:

Selling cryptocurrency for any fiat currency (US or Canadian dollars, euros, etc.).Purchasing any goods or services with a cryptocurrency, even small purchases, as this constitutes a selling event.Sending someone cryptocurrency as a gift if the gift amount exceeds US$15,000 for the duration of the tax year.

You’ll owe taxes on capital gains or losses realized from these events rather than the full amount of the assets. You’ll calculate the difference between the price you paid when the asset was acquired and the price when the asset was sold or swapped.

What are the tax rates for these events? To further complicate the matter, taxes fall into two categories:

Short-term capital gains – If you hold an asset for less than a year, you’ll be taxed at the same capital gains rate as your income tax bracket. Losses can offset income tax by up to US$3,000.Long-term capital gains – If you hold an asset for over a year, the capital gains tax rate can be 0 percent, 15 percent or 20 percent, depending on your individual or combined marital income.

However, some cryptocurrency actions constitute income tax rather than capital gains. Income tax events include:

Receiving cryptocurrencies from an airdrop eventInterest earned from staking or other DeFi lendingIncome from cryptocurrency miningReceiving cryptocurrency as a reward for work performed

Events in this category will be taxed in accordance with income tax regulations, which will vary based on if you’re a sole proprietor, an employee paid in cryptocurrency or a mining company paying yourself a regular salary.

How do you report cryptocurrency taxes?

How do you actually report your cryptocurrency taxes? First, you’ll need an in-depth report of all of your transactions with a taxable event during the year. This can be arduous and time-consuming to put together depending on your activities. You’ll need to fill in Form 8949 and add it to Schedule D (Form 1040) for capital gains tax purposes.

If you earned any cryptocurrencies by way of income tax events, you’d need to add them to Schedule 1 (Form 1040) or Schedule C (Form 1040), depending on the situation. Fortunately, new services have emerged that can handle the heavy lifting and provide you with ready-to-submit forms, but these services will have their own fees. Additionally, major platforms like Coinbase Global (NASDAQ:COIN) have integrated basic tax tracking and documentation.

What if you don’t report cryptocurrency events in accordance with applicable regulations? You may be charged with tax evasion, which incurs penalties ranging from fines to incarceration.

How are cryptocurrencies taxed outside the US?

Non-US investors generally face similar cryptocurrency tax regulations. The US set the standard for taxing this emerging asset class, and most governments have adapted the general guidelines to meet their own capital gains and income tax regulations.

For example, the Canada Revenue Agency (CRA) has provided a guidance document to help investors understand how to track and pay cryptocurrency-related taxes. The CRA views cryptocurrencies as a commodity, treating them as either income or capital gains, depending on the circumstances.

The CRA’s guidance closely mirrors that of the Internal Revenue Service, with events like selling, swapping or transacting with cryptocurrencies falling under capital gains, and events like mining and airdrops constituting income.

Every investor should carefully research tax laws within their own country prior to investing. Researching applicable regulations ahead of time will help you track every transaction and pay the appropriate taxes. In addition, when considering taxes, you’ll also have a more accurate understanding of your actual profit or loss.

What about cryptocurrencies on a global scale? You’ll need to carefully consider any international trade laws and taxable events that may apply in addition to specific cryptocurrency tax laws.

Lastly, it’s worth highlighting that the US and Canada, alongside other countries, do not tax simply holding cryptocurrencies. Instead, the taxable events discussed above represent capital gains, losses or income. As a result, you can buy and hold your chosen cryptocurrency for as long as possible to accommodate taxes when you decide to sell.

What happens if you don’t report cryptocurrencies on taxes?

Understanding the various taxable events within your country is essential to investing in cryptocurrencies. Failing to understand these laws will result in an inaccurate overview of your actual profits or losses from investments.

Failing to pay taxes as required can also result in heavy fines and penalties, including incarceration in the US. Avoiding the workload and costs of paying cryptocurrency taxes is not worth the risk.

Investing in cryptocurrencies is an increasingly attractive option, but to avoid problems investors must understand taxes and regulations before exploring this emerging asset class.

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

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Siren Intersects Significant Mineralisation at Bonanza East

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Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Auld Creek Prospect.

Highlights

Five diamond holes have been completed at Auld Creek with all five holes intersecting significant mineralisation in the Bonanza East Shoot. Assay results are pending.High grade antimony evident in three holes (ACDDH011, ACDDH013 and ACDDH014).The Bonanza East mineralised zone was previously identified in two trenches (BZTR0001; 6m @ 6.2g/t AuEq and BZTR008; 6m @ 5.6g/t AuEq) and drillhole ACDDH004 (2.6m @ 4.3g/t Au).The deepest hole ACDDH014 intersected the Bonanza Shoot approximately 75m below the surface and is open at depth.ACDDH011 also intersected the footwall of the Fraternal Shoot and the base of the block model which may increase the Fraternal MRE.Previous drilling targeted the Fraternal mineralised zone which has been drilled to 175m and is open at depth.Fraternal has an Inferred MRE of 66koz at 3.5g/t Au and 8.7kt at 1.5% Sb for 132koz of AuEq at 7.1g/t AuEq at a 1.5g/t AuEq cut-off.The Bonanza and Fraternal North mineralised zones are yet to be drilled.

Executive Chairman Brian Rodan commented:

“The recent round of drilling intersections continues to demonstrate the significant upside potential of the Auld Creek Prospect and its potential to add considerably to the current high-grade Inferred resource of 132koz of AuEq at 7.1g/t AuEq with additional drilling. Previous drilling results returned high grade gold and antimony of 35.0m @ 11.0g/t AuEq (RDD087) and 20.7m @ 12.0g/t AuEq (ACDDH004) with the drilling also demonstrating considerable thickness of the mineralisation intersected to date. The Auld Creek Gold – Antimony mineralisation corridor extends for ~ 9km from Auld Creek south along Siren’s tenements and the potential for a significant gold antimony resource in this area remains very high. The potential of the Auld Creek area to demonstrate considerable resources of antimony which is vital to the worlds demand for critical minerals, will be a major driver for increasing shareholder value, and could be a significant new and valuable critical mineral industry for New Zealand. Currently, China, Russia & Tajikistan supply 90% of the world’s antimony and antimony is amongst few critical minerals which are listed on all the major economies Critical Minerals lists Globally.”

Background

The Auld Creek Prospect is contained within Siren’s Golden Point exploration permit and is situated between the highly productive Globe Progress mine, which historically produced 418koz @ 12.2g/t Au, and the Crushington group of mines that produced 515koz @ 16.3g/t Au.

More recently Oceana Gold Limited (OGL) mined an open pit and extracted an additional 600koz of gold from lower grade remnant mineralisation around the historic Globe Progress mine.

Collectively these mines produced 1.6Moz at 10g/t Au.

The Auld Creek Prospect represents high-grade gold-antimony (Sb) mineralisation that was potentially offset to the west, along NE-SE trending faults between Globe Progress and Crushington.

Siren has acquired the Cumberland exploration permit that was part of the Globe Progress mining permit. Siren now holds the ground immediately to the north (Auld Creek) and south (Cumberland) of the Globe Progress mine.

The gold-antimony mineralisation extends from Auld Creek south through Globe Progress and the Cumberland prospects (Figure 1) and on to Big River, a strike length of 12kms, with 9kms in Siren’s permits and 3kms in the remaining Globe Progress reserve area.

The Globe Progress mineralisation extends for over 200m vertically below the bottom of the open pit before it was offset by the Chemist Shop Fault (CSF). The offset mineralisation on the other side of the CSF has not been found.

Soil sampling and trenching at Auld Creek has defined an arsenic soil anomaly over 700m along strike and clearly defines the Fraternal and Bonanza mineralisation (Table 1 and Figure 2). The Fraternal zone has been subdivided into the Fraternal and Fraternal North zones and Bonanza into the Bonanza and Bonanza East zones. The Fraternal and the Bonanza zones dip steeply to the west, while the Bonanza East zone dips steeply to the east and appears to link the two west dipping mineralised zones (Figure 2).

Click here for the full ASX Release

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FPX Nickel Subsidiary CO2 Lock Corp. Named to Foresight 50 List of Canada’s Most Investible Cleantech Ventures

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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (‘ FPX ‘ or the ‘ Company ‘) is pleased to announce that CO2 Lock Corp. (‘ CO2 Lock ‘), its majority-owned subsidiary focused specializing in carbon capture and storage (‘ CCS ‘) has been named by Foresight Canada as one of the Foresight 50, Canada’s Most Investible Cleantech Ventures.

‘This recognition by one Canada’s leading cleantech organization validates the progress CO2 Lock is making in advancing its carbon mineralization technology at its SAM project site in central British Columbia ,’ commented Martin Turenne , FPX’s President and CEO. ‘Foresight has a long history of accelerating Canadian cleantech companies through to commercialization with financial and technical assistance, and CO2 Lock will be well-positioned to leverage their network and internal teams to advance its progress.’

On March 30, 2022 , FPX announced the formation of CO2 Lock as a self-funding subsidiary entity to pursue geoscience-related CCS opportunities. FPX retains 100% of the carbon credits associated with CCS on its own properties, and will retain a right to use, free of charge, any intellectual property developed by CO2 Lock for the benefit of FPX’s own properties.

The annual Foresight 50 list is selected by a panel of investors and stakeholders, based on multiple criteria including investibility, potential environmental and employment impact, leadership and team, and probability of success. More information on the Foresight 50, including the selection process and detailed information on each company chosen, can be found here: https://foresightcac.com/2023/11/08/2023-foresight-50

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of awaruite nickel mineralization. For more information, please view the Company’s website at www.fpxnickel.com

On behalf of FPX Nickel Corp.

‘Martin Turenne’
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2023/20/c9874.html

News Provided by Canada Newswire via QuoteMedia

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Nevada Sunrise Announces 15.3 Grams/Tonne Gold Intersected over 32.3 Metres at the Kinsley Mountain Gold Project, Nevada

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Nevada Sunrise Metals Corp. (‘Nevada Sunrise’, or the ‘ Company ‘) (TSXV: NEV) (OTC: NVSGF) is pleased to announce that its joint venture partner, CopAur Minerals Inc., has reported final results from the 2023 drilling program at the Kinsley Mountain Gold Project (‘Kinsley Mountain’ or the ‘Project’) in Elko County, Nevada .

Diamond drill hole KMD23-02 , targeting resource infill at the high-grade Western Flank Zone, returned 15.28 grams per tonne (‘g/t’) gold over 32.3 metres; including 24.07 g/t gold over 10.7 metres (Table 1 and Figures 1 and 2). This result, in conjunction with prior drilling in 2020 by the Kinsley Mountain joint venture that yielded high-grade sulphide gold intercepts at depth, reinforces the continuity and exceptionally high-grade nature of Secret Canyon shale-hosted sulphide gold mineralization. The Western Flank Zone is interpreted by CopAur to remain open along corridors to the north, west and east, which CopAur, as operator of exploration at Kinsley Mountain, plans to continue to test with additional drilling.

Table 1. Kinsley Mountain Final 2023 Diamond Drilling Results

Hole ID

Zone

From

To

Interval
(metres)*

Gold

Value

(g/t)*

(Dip/Azimuth)

(metres)

(metres)

KMD23-02 (-80/185)

Western
Flank Zone

254.5

286.8

32.3

15.28

including

254.5

257.9

3.4

45.19

including

265.5

276.2

10.7

24.07

* True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths.

Diamond drill hole KMD23-03 , targeting an untested geophysical anomaly, intersected a greater than 80 metre core length fault-bounded interval of the Secret Canyon Shale. This interval contained anomalous arsenic pathfinder values but did not return significant gold values.

Summary of the 2023 Exploration Program at Kinsley Mountain

A total of seven (7) reverse circulation (‘RC’) drill holes and three (3) diamond drill holes comprising 2,285 metres (7,495 feet) were completed in 2023 at the high-grade Western Flank Zone (see Figure 1 below), the Main Pit North, and the Kinsley Ridge target. All samples, including QA/QC samples, were shipped to ALS Global in North Vancouver, British Columbia , Canada for multi-element analysis and fire assay for gold.

Figure 1. Kinsley Mountain 2023 RC and Diamond Drilling Locations

Figure 2. Western Flank Zone: Holes KMD23-01 and KMD23-02 Cross Section (looking east)

Methodology and QA/QC

Assaying was performed by ALS Global (‘ALS’), of Vancouver, Canada . ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of CopAur, Nevada Sunrise, and their respective Qualified Persons. Drill core and RC drill samples were subject to crushing to a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard 30-gram fire-assay analysis with atomic absorption spectroscopy (‘AAS’) finish, in addition to 51 element ICP-MS. Samples returning greater than 10 g/t gold are subject to gravimetric finish. Gold values returning greater than 0.1 g/t gold are also subject to leach analysis where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.

CopAur reports that it follows industry standard procedures for the work carried out on the Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. CopAur states it detected no significant QA/QC issues during its review of the 2023 data, and reports that it is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Robert M. Allender, Jr. , CPG, RG, SME, who is a Qualified Person for Nevada Sunrise as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

About Kinsley Mountain

Kinsley Mountain hosts a historic past-producing mine that yielded 138,000 ounces of near-surface, open-pit oxide gold mined by Alta Gold Company between 1995-1999.

The Project hosts current indicated mineral resources comprising a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t gold (4.95 million tonnes) , and 117,000 inferred ounces of gold averaging 1.51 g/t gold (2.44 million tonnes) , at cut-off grades ranging from 0.2 to 2.0 g/t gold 1 .

Indicated resources are inclusive of 302,000 ounces averaging 6.11 g/t gold hosted within the Secret Canyon Shale at the Western Flank Zone 1 .

1 Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin and Gary L. Simmons, and filed under New Placer Dome Gold Corp.’s issuer profile on SEDAR ( www.sedar.com ).

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC , Canada , that holds interests in lithium, gold, and copper exploration projects located in the State of Nevada, USA .

Nevada Sunrise owns 100% interests in the Gemini, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, NV. The Company owns Nevada water right Permit 86863, also located in the Lida Valley basin, near Lida, NV.

The Company’s key gold asset is at the Kinsley Mountain Gold Project near Wendover, NV , in a joint venture with CopAur Minerals Inc. Due to its current focus on lithium exploration and development in Nevada , the Company elected not to contribute to the 2023 exploration program at Kinsley Mountain and will incur dilution of its participating interest in the joint venture to an approximate 19.0% interest.

Nevada Sunrise has the right to earn a 100% interest in the Coronado VMS Project , located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.

FORWARD LOOKING STATEMENTS

This release may contain forward – looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur and include disclosure of anticipated exploration activities. 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 forward looking statements. Forward – looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward – looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to the interpretation and actual results of historical production at Kinsley Mountain, reliance on technical information provided by third parties on any of our exploration properties, including access to historical information on the Kinsley Mountain property as well as specific historical data associated with drill results from the property, information received from CopAur Minerals Inc., current exploration and development activities; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; failure of CopAur Minerals Inc. to complete anticipated work programs; labor disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled ‘Risk Factors’ in the Company’s Management Discussion and Analysis for the Nine Months ended June 30, 2023 , which is available under Company’s SEDAR profile at www.sedar.com .

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

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

SOURCE Nevada Sunrise Metals Corporation

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Argentina Lithium Announces Accelerated Exploration Plan

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Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) (‘Argentina Lithium’ or the ‘Company’) is pleased to announce its accelerated exploration plans for 2024, following the major financing agreement with Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., (‘ Stellantis ‘) as reported on September 27 th 2023 . The revised program includes a plan to complete up to 30 drill holes at the Company’s large and highly prospective Antofalla North project, with a goal of bringing it to a resource delineation stage shortly on the heels of the Company’s flagship Rincon West project, where the 11 th of 20 planned exploration drill holes is underway.

Miles Rideout , VP of Exploration for the Company stated, ‘Our 2023 field work focused on drilling Rincon West and was extremely successful in identifying lithium-rich brines and advancing the project. At the same time, we assembled the large Antofalla North property package adjacent and to the north of Albemarle Corp’s lithium project and now that we are funded we will be as aggressive as possible to advance the project alongside Rincon West. While Antofalla North is undrilled, our previous CSAMT geophysics show conductive units in horizontal bedding, extending to approximately 500 m depth. Based on these results and historic prospective results reported from elsewhere on the salar, we hope to delineate another major source of lithium in brines at Antofalla. Our property package at Antofalla is more than twice as large as Rincon West, and exploration success here would be a breakthrough.’

[Argentina Lithium cautions that proximity to a discovery, mineral resource, or mining operation does not indicate that mineralization will occur on the Company’s property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.]

The Company has also expanded the exploration program plans for its pipeline projects, Pocitos and Incahuasi. These are earlier stage and are generally expected to be advanced behind the work at the Rincon and Antofalla salars. However, with permits and funding secured, the Company is in the process of mobilizing a geophysics crew to the Pocitos Salar to begin a reconnaissance program of 170 line-km of TEM (Transient Electromagnetic) surveying on the 26,221 hectares of properties. This program at Pocitos is an increase of approximately 40% from the previous plans.

Nikolaos Cacos , CEO of Argentina Lithium commented, ‘We expect 2024 to be a transformative year for the Company, one in which we can significantly advance towards resource delineation at our two primary projects. We have cleared the biggest hurdle for any junior today, which is having financing secured for all the planned exploration activity, to the tune of up to fifteen million dollars (US) next year alone if we complete all of our plans. In fact, the Stellantis funding is expected to carry us through exploration drilling to potential resource definition and initial engineering study stages at Rincon West and Antofalla North, allowing us to build value with minimal dilution for our investors.’

Program Highlights

Rincon West Project

Following the completion of a successful 9-hole drill program on the Villanoveño II property earlier this year, the Company launched a new 5-hole exploration drill program (~ 1,700 m total) at the Rinconcita II property, where the second hole is now in progress. Permitting is underway for the third property, Paso de Sico , and once received the Company plans to execute a program of at least 6 drill holes (~2,100m). The Company is confident in the permitting process, having completed applications and successfully been awarded new permits for the Rinconcita II property of Rincon West as recently as this summer.

Following the drill programs at the Rincon West properties a series of rotary wells will be completed and pump tests executed, to provide high-quality data on porosity and permeability to support a mineral resource estimate. This work will require additional permits, which have been submitted. The exact number and timing of wells and tests will be determined based on the results of the drilling programs.

Antofalla North Project

Argentina Lithium plans to complete 110 line-km of TEM geophysics at Antofalla North Project covering approximately 16,620 hectares. This work will further map the basin and provide final targets for drilling of an initial 6 broadly spaced reconnaissance holes totaling approximately 2,400 metres to test for lithium brines. With positive results, the Company now envisages following this work with as many as 24 infill holes or approximately 7,200 m of drilling to fully test the property holdings.

Argentina Lithium is currently awaiting the issuance of environmental permits at Antofalla which will allow work to commence. The review process is well underway and the Company does not foresee any issues with its applications.

Pocitos and Incahuasi Projects

As indicated above, the Company is currently mobilizing a geophysics crew to the Pocitos Salar to execute 170 line-km of TEM surveys, to map the subsurface of properties for future drill program targeting.

In 2024, the Company expects to follow the Pocitos geophysics work with a survey at its Incahuasi salar properties. The planned program has been expanded by nearly 20%, to 90 line-km of TEM covering the entire 25,582 hectares of the project.

Qualified Person

Frits Reidel , CPG is a Qualified Person as defined in National Instrument 43-101, and the Principal of Atacama Water, and is independent of Argentina Lithium. The disclosure in this news release has been reviewed and approved by Mr. Reidel.

About Argentina Lithium

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The Company’s recent strategic investment by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the world’s leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects covering over 67,000 hectares in the Lithium Triangle of Argentina . Management has a long history of success in the resource sector of Argentina and has assembled some of the most prospective lithium properties in the world renowned ‘Lithium Triangle’. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

‘Nikolaos Cacos’
_______________________________
Nikolaos Cacos , President, CEO and Director

www.argentinalithium.com

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.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company’s plans for its mineral properties; the Company’s business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company’s public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-announces-accelerated-exploration-plan-301992909.html

SOURCE Argentina Lithium & Energy Corp.

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CanAlaska Announces up to $7.5 Million Private Placement Financing

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CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) (‘CanAlaska’ or the ‘Company’) announces that it proposes to undertake a non-brokered private placement of securities to raise total gross proceeds of up to $7.5 million (the ‘Offering’). The Offering will be comprised of a combination of: (i) non-flow-through units (the ‘NFT Units’) to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a ‘FT Unit’) to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a ‘Charity FT Unit’) to be sold at a price of $0.5575 per Charity FT Unit.

Each NFT Unit will consist of one non-flow-though common share of the Company (each, a ‘NFT Share’) and one common share purchase warrant (each, a ‘Warrant’). Each FT Unit will consist of one common share of the Company to be issued as a ‘flow-through share’ within the meaning of the Income Tax Act (Canada), (each, a ‘FT Share’) and one half (½) of one common share purchase warrant (each whole warrant, a ‘Warrant’). Each Charity FT Unit will consist of one common share of the Company to be issued as a ‘flow-through share’ within the meaning of the Income Tax Act (Canada), (each, a ‘FT Share’) and one common share purchase warrant (each, a ‘Warrant’). Each Warrant will entitle the holder to purchase one common share of the Company (each, a ‘Warrant Share’) at a price of $0.56 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units, FT Units and Charity FT Units sold will be determined at closing.

The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company’s exploration properties. The net proceeds received from the sale of the NFT Units will be used for general working capital.

The Company will pay finders’ fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the Offering.

All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders’ fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the ‘1933 Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 acres), in Canada’s Athabasca Basin – the ‘Saudi Arabia of Uranium.’ CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.

On behalf of the Board of Directors
‘Cory Belyk’
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, CEO and President
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com

General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com

Neither 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 release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187989

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HUGE NEWS! New SharpCharts Workbench Updates + Black Friday Week MEGA SALE

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On this week’s edition of StockCharts TV‘s StockCharts in Focus, Grayson kicks off the BIGGEST week of the year here at StockCharts with two exciting announcements: our Black Friday Week sale and a fresh round of updates on the new SharpCharts Workbench. He’ll show you how to get 4 FREE months of StockCharts right now and save nearly $200 OFF with our limited-time Black Friday sale. After that, Grayson will tour you through the latest enhancements to the SharpCharts Workbench including new chart sizing capabilities, major enhancements to the ChartList management tools and an all-new set of technical alert tools built right into the workbench.

Get up to 4 FREE months of StockCharts service when you sign up or renew during Black Friday week, our biggest sale of the year!

This video originally premiered on November 20, 2023. Click on the above image to watch on our dedicated StockCharts in Focus page on StockCharts TV, or click this link to watch on YouTube.

You can view all previously recorded episodes of StockCharts in Focus at this link.

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