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Top 5 Canadian Mining Stocks This Week: Orosur Surges 78 Percent on Anzá Acquisition

The S&P/TSX Venture Composite Index (INDEXTSI:JX) increased 1.85 percent on the week to close at 614.26 on Friday (November 29). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 0.75 percent to 25,648.00 and the CSE Composite Index (CSE:CSECOMP) rose 2.49 percent to 141.47.

Statistics Canada released its third-quarter gross domestic product (GDP) data on Friday (November 29). The numbers show a small increase in real GDP of 0.3 percent during the three months ending in September.

On the surface, the increase seems positive, but examining the numbers reveals some cause for concern: per capita GDP actually shrank by 0.4 percent, the sixth consecutive quarterly decline. Additionally, real GDP growth was down from the 0.5 percent increase recorded in the prior two quarters of 2024.

StatsCan also released the more granular September GDP data by industry on Friday. The data for the resource sector indicated a month-over-month contraction of 1.4 percent, the third consecutive decline and the largest one since January.

The oil and gas extraction sector fell by 1.8 percent, attributed to lower output, with oil sands extraction dropping by a significant 2.3 percent. Meanwhile, mining and quarrying increased 0.1 percent, with coal mining gaining 8.7 percent and non-metallic mineral mining edging up 1.5 percent. However, these gains were offset by a 1.6 percent decline in the metal ore mining subsector.

South of the border, the US Bureau of Economic Analysis released figures for October’s personal consumption expenditures index (PCE) on Wednesday (November 27). The data showed that while the PCE remained flat on a monthly basis at 0.2 percent, it nudged up on a yearly basis to 2.3 percent compared to the 2.1 percent registered in September. Additionally, the more volatile core PCE less food and energy also nudged up 2.8 percent from the 2.7 percent increase the month before, indicating some stickiness in inflation.

The PCE is a favored indicator by the US Federal Reserve and its decision-making committee. With yearly PCE up, most analysts predict a 25 basis point cut from the central bank at its next meeting in December, but some are speculating that the Fed may pause its cuts in the new year due to the incoming administration.

On Monday, Donald Trump said he was considering imposing 25 percent tariffs on all goods entering the US from Canada and Mexico and 35 percent on goods from China. If implemented, this move could raise prices on a broad category of goods, triggering new inflationary pressure.

The price of gold lost 2.4 percent this week to US$2,650.33 per ounce on Friday at 4:00 p.m. EST, while silver sank 2.34 percent to US$30.60. Copper was unchanged, ending the week at US$4.14 per pound on the COMEX. More broadly, the S&P GSCI (INDEXSP:SPGSCI) was down 1.4 percent to close the week at 536.20.

While metals hit a road bump, equity markets posted gains this week. The S&P 500 (INDEXSP:INX) moved up 1.48 percent to end Friday at 6,032.39, the Nasdaq-100 (INDEXNASDAQ:NDX) gained 0.93 percent to 20,930.37 and the Dow Jones Industrial Average (INDEXDJX:.DJI) finished the week up 2.37 percent to 44,910.66.

Find out how the five best-performing Canadian mining stocks performed against that backdrop.

Data for this article was retrieved at 3:30 p.m. EST on November 29, 2024, using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Orosur Mining (TSXV:OMI)

Company Profile

Weekly gain: 77.78 percent
Market cap: C$16.49 million
Share price: C$0.08

Orosur Mining is an exploration company focused on the development of early to advanced-stage assets in South America.

Its flagship Anzá gold project in Colombia was a 49/51 joint venture with Minera Monte Aguila (MMA), a corporation owned equally by Newmont (TSX:NGT,NYSE:NEM) and Agnico Eagle Mines (TSX:AEM,NYSE:AEM).

Exploration has revealed multiple gold deposits at the site, which is located 50 kilometers west of Medellin and sits along Colombia’s primary gold belt.

Orosur also owns several early-stage projects, the El Pantano gold-silver project in Argentina, the Lithium West project in Nigeria and the Ariquemes project in Brazil, which is prospective for tin, niobium and rare earths.

Shares in Orosur jumped significantly this week following its announcement on Thursday (November 28) that it had completed its takeover of MMA. The acquisition gives Orosur 100 percent indirect ownership of the Anzá gold project.

Under the terms of the agreement previously announced on September 9, Newmont and Agnico will each receive a 0.75 percent net smelter royalty plus a fixed royalty of US$37.5 per ounce of gold or gold equivalent of the first 200,000 ounces produced.

Additionally, the company said it completed the first three drill holes of its drill program, announced on November 21 at the site’s Pepas prospect, and samples were being sent to Medellin for testing.

2. Mkango Resources (TSXV:MKA)

Company Profile

Weekly gain: 66.67 percent
Market cap: C$51.63 million
Share price: C$0.15

Mkango Resources is a rare earths exploration and development company focused on the advancement of rare earths mining and recycling projects.

Mkango shares surged this week following a news release on Monday (November 25) stating that a feasibility study focused on its HyProMag USA project demonstrated HyProMag’s ability to establish domestic recycling or rare earth magnets for the US market.

In the announcement, Mkango reported that the plant, which would be located in Dallas Fort Worth, Texas, would have an after-tax net present value of US$262 million and an internal rate of return of 23 percent based on current market prices.

The company is projecting a 750 metric ton per year output of recycled sintered neodymium magnets and a 291 metric ton per year output of associated products over a 40-year operating life.

HyProMag is owned by Maginito, in which Mkango holds a 79.4 percent stake. The remaining 20.6 percent interest is held by CoTec Holdings (TSXV:CTH,OTCQB:CTHCF).

Additionally, the company released its Q3 results on Friday. In the release the company indicated it has a strong cash position with US$2 million at the end of September. It also said it had completed a strategic review for its Songwe Hill rare earth project in Malawi and was advancing toward commercial production at its recycling and manufacturing projects in the UK, Germany and USA.

3. CopperCorp Resources (TSXV:CPER)

Company Profile

Weekly gain: 51.5percent
Market cap: C$14.19 million
Share price: C$0.245

CopperCorp Resources is an exploration and development company working to advance projects in Western Tasmania.

Its primary work over the past several months has been exploration of the 171 square kilometer Razorback prospect. Razorback hosted a historic mining operation and is home to mineralized deposits of copper, gold and rare earth elements.

The company has identified three high-priority target zones: Jukes, Hyde and Darwin.

The share price of CopperCorp climbed this week following an announcement on Monday (November 18) in which the company reported that it encountered broad zones of visible copper from the Jukes zone.

The company is currently awaiting assay results but said it was encouraged by the results, which include 24.4 meters of visual copper sulphide from 400 meters downhole and 88.7 meters of visual copper sulphide from 463.3 meters downhole. This comes after CopperCorp reported 0.35 percent copper and 0.19 g/t gold over 132 meters from an adjacent hole on October 15.

4. Jervois Global (TSXV:JRV)

Company Profile

Weekly gain: 50 percent
Market cap: C$27.09 million
Share price: C$0.0.015

Jervois Global is working to advance a global portfolio of nickel and cobalt projects. It owns the Idaho Cobalt Operations in the US, at which it suspended mine construction in 2023 due to low cobalt prices.

According to Jervois, the Idaho Cobalt Operations host the largest US cobalt resource. A 2020 feasibility study shows that they have a measured and indicated resource of 50.1 million pounds of cobalt from 5.24 million MT grading 0.44 percent, with inferred values of 12 million pounds of cobalt from 1.57 million MT grading 0.35 percent.

The company announced in June 2023 that it had entered into a US$15 million agreement through the US Department of Defense’s Defense Production Act for exploration activities at its property.

In an announcement from the project on July 31, Jervois reported that extensional drilling at the Idaho Cobalt Operations had shown positive resource growth potential, with cobalt, gold and copper mineralization at depth. In the announcement, the company provides a highlighted result of 1.1 percent cobalt, 1.18 percent gold and 0.69 g/t gold over 1.8 meters.

Most recently, Jervois announced on Tuesday that it had secured an additional US$24.5 million in working capital through an increase to a US$7.5 million delayed draw term loan it received earlier in the year.

The increase raises the limit to a US$32 million of which the company has access to US$8 million to be used before December 14, with an additional US$16.4 million available after that, subject to certain milestones regarding the potential recapitalization of Jervois’ balance sheet.

5. Baru Gold (TSXV:BARU)

Company Profile

Weekly gain: 44.44 percent
Market cap: C$19.87 million
Share price: C$0.065

Baru Gold is a development company working to advance its Sangihe gold project in Indonesia.

The company holds a 70 percent stake in the 42,000 hectare project, with the remaining 30 percent interest being held by three Indonesian-based companies.

A mineral resource estimate contained in a 2017 technical report demonstrates an indicated resource of 114,700 ounces of gold and 1.97 million ounces of silver from 3.16 million metric tons of ore with grades of 1.13 grams per metric ton (g/t) gold and 19.4 g/t silver. The project also hosts an inferred resource of 105,000 ounces of gold and 1.06 million ounces of silver.

Shares in Baru gained in recent weeks following a series of announcements.

The first came on November 19 when the company announced it had signed a letter of intent with Indonesian company PT Arsari Tambang, which will become a strategic equity partner and investor with a 10 percent stake in Baru Gold subsidiary PT Tambang Mas Sangihe.

The initial 10 percent stake is being purchased from one of Baru’s private partners, meaning it will not affect Baru’s interest in its Sangihe project. However, PT Arsari will also be granted a five-year option for an additional 15 percent stake in the company; if exercised, Baru’s interest will lower from 70 to 59.5 percent.

Its next announcement came on November 21 when Baru Gold announced it had retained the services of a specialist advisory firm to lead fundraising operations. The move comes after Baru received several unsolicited inquiries from investors looking to invest in the Indonesian gold sector, including from companies looking for diversification opportunities.

Baru’s most recent release came on Tuesday (November 26) when it announced a non-brokered private placement for C$300,000 for 7.5 million shares at C$0.04 per unit. The financing is expected to close on or before December 13, with proceeds being used for year-end audit fees and land taxes.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

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

How many companies are listed on the TSXV?

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

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

How much does it cost to list on the TSXV?

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

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

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

How do you trade on the TSXV?

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

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

Tech 5: Microsoft, Google Face New Antitrust Action, Ether Rallies

Ether outperformed this week as Bitcoin’s ascent paused around US$98,000.

Meanwhile, Microsoft (NASDAQ:MSFT) became the latest of the Big Tech firms to come under scrutiny by the US Federal Trade Commission, and the Biden administration finalized its milestone deal with Intel (NASDAQ:INTC).

1. Bitcoin pulls back as Ether outperforms

Bitcoin pulled back at the start of the week following a rally toward US$100,000 last Friday (November 22). After setting a new all-time high of US$99,645, the cryptocurrency struggled to stay above US$98,000 over the weekend, eventually falling as low as US$92,058 on Monday evening. Bitcoin declined even further to US$90,911 as the markets wrapped on Tuesday, marking its lowest valuation of the week.

On Wednesday, following Fox News reports that the Trump administration would move to hand more power to crypto regulation to the Commodity Futures Trading Commission, Bitcoin rallied to an intraday high of US$97,360. Investor confidence also rose due to weekly inflation numbers that suggested a resilient economy and a strengthening job market, both of which typically bolster risk appetite. As markets wrapped, Bitcoin was ahead by over 6.5 percent in 24 hours.

It traded sideways on Thursday as US markets celebrated Thanksgiving, and started Friday strong with a brief surge to US$98,680 in early trading before pulling back and wrapping the day around US$97,500. As of 6:00 p.m. EST Friday, Bitcoin was down 1.9 percent for the week, trading at US$97,485.

Meanwhile, Ether showed signs of a resurgence, climbing to over US$3,500 for the first time since June on Monday. While it quickly pulled back to a weekly low of around US$3,280 on Tuesday afternoon, Ether climbed steadily Wednesday to hit a weekly high of US$3,666 as Asia’s markets opened.

Block Scholes and Bybit Analytics released a report on Thursday observing a US$8.9 billion surge in Ether open interest, estimating its price could top US$4,000 before Donald Trump takes office on January 20.

Ether traded in the range of US$3,550 and US$3,650 for the remainder of the week. As of 6:00 p.m. EST Friday, it was up 8.9 percent for the week, trading for around US$3,590.

Ether price chart. November 23, 2024, to November 29, 2024.

Chart courtesy of CoinGecko.

2. Dell, CrowdStrike fall following Q3 reports

Dell (NYSE:DELL) and Crowdstrike (NASDAQ:CRWD) are down 10.94 percent and 3.81 percent, respectively, for the week after both companies delivered quarterly reports that left shareholders dissatisfied.

Shares of Dell fell by over 12 percent on Wednesday morning after the company’s Q3 2025 results, released after the closing bell on Tuesday afternoon, revealed declining revenue for its PC business. Dell’s Client Solutions Group revenue declined by 1 percent year-over-year in Q3 to US$12.1 billion, despite the increase in demand for PCs equipped with AI anticipated by analysts.

“The PC refresh cycle is pushing into next year,” the company’s CFO Yvonne McGill said on a call with analysts after the results were released.

Meanwhile, Infrastructure Solutions Group revenue rose at an annual rate of 34 percent to US$11.4 billion. Total revenue grew 10 percent to US$24.4 billion, missing the average analyst estimate of US$24.6 billion. Adjusted earnings were US$2.15 per share, above with the average estimate of US$2.06.

Additionally, Dell’s Q4 2025 revenue outlook of US$24.5 billion fell short of analyst expectations of US$25.57 billion, leaving shareholders unimpressed despite some positive data points.

Shares of Crowdstrike opened 1.6 percent lower and fell by over 3 percent in early trading on Wednesday after a lackluster earnings report for Q3 2025.

CrowdStrike’s CFO, Burt Podber, emphasized the company’s strong quarterly performance. During an earnings call, he highlighted a growing sales pipeline and expressed optimism about finishing the year with momentum “despite expected headwinds from the July 19 incident,” referring to the global outage that temporarily crippled the cybersecurity defenses of countless organizations worldwide.

The event could explain the company’s adjusted earnings per share forecast to a range of US$0.84 to US$0.86 for Q4, slightly below the analyst expectation of US$0.87. The company’s total operating expense increased nearly 40 percent compared to the same period last year.

On a more upbeat note, CrowdStrike’s Q3 sales surpassed predictions, reaching US$1.01 billion, and its adjusted profit per share of US$0.93 exceeded estimates of US$0.81 per share.

Additionally, CrowdStrike increased its full fiscal year revenue forecast to between US$3.92 billion and US$3.93 billion, higher than the anticipated US$3.9 billion.

Dell and CrowdStrike’s share prices fell following their Q3 earnings reports.

Chart courtesy of Google Finance.

3. Microsoft latest to be investigated by FTC, Google faces lawsuit in Canada

The US Federal Trade Commission launched an antitrust investigation into Microsoft on Wednesday. According to sources for Bloomberg, who first reported the news, the FTC has been interviewing business partners and competitors for over a year, and has requested the company turn over information regarding all aspects of Microsoft’s business in a document that’s “hundreds of pages long.”

Sources familiar with the matter say that the ongoing investigation is heavily focused on Microsoft’s practice of bundling its popular office productivity and security software with its cloud products.

Microsoft opened 0.71 percent lower on Friday morning following the news but recovered by the end of the shortened trading day. Its stock is up 2.93 percent for the week.

FTC regulators will reportedly meet with Microsoft executives next week. Neither organization has issued a formal comment on the situation.

This is the fifth investigation launched by FTC Chair Lina Khan in recent years, and likely one of the last before she steps down in January. President-elect Donald Trump has not yet named Khan’s successor.

Meanwhile, Canada’s Competition Bureau announced it was suing Google (NASDAQ:GOOGL) for anti-competitive practices in the online advertising market, adding to the company’s mounting list of legal problems.

“The Competition Bureau conducted an extensive investigation that found that Google has abused its dominant position in online advertising in Canada by engaging in conduct that locks market participants into using its own ad tech tools, excluding competitors, and distorting the competitive process,” Matthew Boswell, Commissioner of Competition, said in the press release. “Google’s conduct has prevented rivals from being able to compete on the merits of what they have to offer, to the detriment of Canadian advertisers, publishers and consumers.”

4. Biden Administration finalizes US$7.9 billion CHIPS funding for Intel

The US Biden Administration has finalized its deal with Intel for nearly US$7.9 billion in federal grants for chip manufacturing in Arizona, Ohio, Oregon and New Mexico. This amount, slightly less than the initially proposed award of US$8.5 billion, will be used to boost chip manufacturing in these locations.

“The award will directly support Intel’s expected US investment of nearly US$90 billion by the end of the decade, which is part of the company’s overall US$100+ billion expansion plan,” President Joe Biden said in a statement.

The company will receive at least US$1 billion this year based on milestones it has already reached and can begin receiving additional funds as it hits negotiated benchmarks on projects.

Bloomberg reported that government officials said the reduction in the grant wasn’t a reflection of the challenges the company’s chip business has faced this year, but instead is due to a US$3 billion grant the company is eligible for to make chips for the military. Due to a change in the financing for the military grant, some of the funds were instead taken from the CHIPS Act grant.

Although the initial deal included provisions for US$11 billion in loans, Intel opted not to utilize this option. Bloomberg columnist Mackenzie Hawkins noted that makes it the third major company to turn down government loans provided by Biden’s US$75 billion in loans available through the CHIPS Act.

Shares of Intel fell by nearly 4.5 percent on Tuesday before the markets closed.

5. California proposes renewed EV rebates excluding Tesla

California Governor Gavin Newsom shared plans to create a new version of the state’s Clean Vehicle Rebate Project (CVRP) and offer state rebates for electric vehicles (EVs) if President-elect Donald Trump follows through on campaign promises and eliminates the Biden-era federal EV tax credit.

The CVRP was a state program funded through California’s Greenhouse Gas Reduction Fund that offered rebates to residents who purchased or leased eligible new zero-emission vehicles. It ran from 2010 until it was closed on November 8, 2023, after funding was exhausted.

Governor Newsom’s office told Bloomberg on Monday that the current plan included market share proposals that could exclude models made by Tesla, but reiterated that the details of the proposal would first need to pass through the regular legislative channels.

“It’s about creating the market conditions for more of these car makers to take root,” the governor’s office told Bloomberg.

Tesla (NASDAQ:TSLA) CEO and Trump’s pick as head of the newly-announced Department of Government Efficiency, or DOGE, Elon Musk was quick to fire back, posting his thoughts on X: “Even though Tesla is the only company that manufactures their EVs in California! This is insane.”

Despite the bump in the road — Tesla closed down over 6 percent on Monday — the company ended the week slightly ahead by 1.26 percent.

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

This post appeared first on investingnews.com

Starbucks (SBUX) Stock Analysis: Key Resistance at $103.33

The opening of a Starbucks near South Korea’s Demilitarized Zone (DMZ) highlights the intersection of global commerce and geopolitics, showcasing the brand’s ability to establish itself even in politically sensitive locations. Positioned in an observatory in Gimpo, just 1.4 km from North Korea, the café provides patrons with a rare view of the reclusive state while enjoying the familiarity of a latte. This unique location is expected to attract both domestic and international visitors, capitalizing on the DMZ’s status as an unlikely tourist destination.

While Starbucks often tailors its expansion strategies to local cultural and economic contexts, this store’s strategic placement reflects its ambition to tap into South Korea’s thriving coffee culture while offering a distinctive experience. Tourists passing through military checkpoints and viewing North Korean territory emphasize the symbolic and literal bridging of starkly different worlds—a marketing narrative that could further boost Starbucks’ appeal.

From a business perspective, this venture demonstrates Starbucks’ commitment to innovation in location strategy, leveraging geopolitical intrigue to drive foot traffic. However, given the ongoing tensions on the Korean peninsula, the store’s proximity to such a contentious border could pose operational and reputational risks. Overall, this opening underscores the brand’s global reach and ability to find opportunity in unconventional markets.

Sturbucks Stock Chart Analysis

This 15-minute chart for Starbucks Corporation (SBUX) highlights recent price action. The stock is trading at $101.51, down 0.21% for the day. The overall trend on this timeframe shows a sharp rally early in the week, followed by a pullback and consolidation.

The chart indicates a recent high of $103.33, which may act as a key resistance level. The price retreated from this level and found support near $97.11. This bounce shows potential buyer interest around the lower levels. The recovery on the 27th suggests renewed bullish momentum but is tempered by some sideways trading in the most recent sessions.

The Relative Strength Index (RSI) is at 50.37, which reflects neutral momentum. It suggests neither overbought nor oversold conditions, indicating potential indecision among market participants.

From a technical perspective, the key zones to watch include resistance at $103.33 and support at $97.11. A break above resistance could pave the way for further upside, while a drop below support might indicate renewed bearish sentiment.

Traders may look for confirmation through volume or additional indicators, as the sideways consolidation suggests a lack of strong conviction in either direction at the moment. A breakout or breakdown is likely to set the next trend.

The post Starbucks (SBUX) Stock Analysis: Key Resistance at $103.33 appeared first on FinanceBrokerage.

FTC opens broad antitrust investigation into Microsoft

The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter told Reuters Wednesday.

A source confirmed the investigation to NBC News.

The investigation was approved by FTC Chair Lina Khan ahead of her likely departure in January. The election of Donald Trump as U.S. president, and the expectation he will appoint a fellow Republican with a softer approach toward business, leaves the outcome of the investigation up in the air.

The FTC is examining allegations the software giant is potentially abusing its market power in productivity software by imposing punitive licensing terms to prevent customers from moving their data from its Azure cloud service to other competitive platforms, sources confirmed earlier this month.

The FTC is also looking at practices related to cybersecurity and artificial intelligence products, the source said on Wednesday.

Microsoft declined to comment on Wednesday.

Competitors have criticized Microsoft’s practices they say keep customers locked into its cloud offering, Azure. The FTC fielded such complaints last year as it examined the cloud computing market.

NetChoice, a lobbying group that represents online companies including Amazon and Google, which compete with Microsoft in cloud computing, criticized Microsoft’s licensing policies, and its integration of AI tools into its Office and Outlook.

“Given that Microsoft is the world’s largest software company, dominating in productivity and operating systems software, the scale and consequences of its licensing decisions are extraordinary,” the group said.

Google in September complained to the European Commission about Microsoft’s practices, saying it made customers pay a 400% mark-up to keep running Windows Server on rival cloud computing operators, and gave them later and more limited security updates.

The FTC has demanded a broad range of detailed information from Microsoft, Bloomberg reported earlier on Wednesday.

The agency had already claimed jurisdiction over probes into Microsoft and OpenAI over competition in artificial intelligence, and started looking into Microsoft’s $650 million deal with AI startup Inflection AI.

Microsoft has been somewhat of an exception to U.S. antitrust regulators’ recent campaign against allegedly anticompetitive practices at Big Tech companies.

Facebook owner Meta Platforms, Apple and Amazon.com Inc. have all been accused by the U.S. of unlawfully maintaining monopolies.

Alphabet’s Google is facing two lawsuits, including one where a judge found it unlawfully thwarted competition among online search engines.

Microsoft CEO Satya Nadella testified at Google’s trial, saying the search giant was using exclusive deals with publishers to lock up content used to train artificial intelligence.

It is unclear whether Trump will ease up on Big Tech, whose first administration launched several Big Tech probes. JD Vance, the incoming vice president, has expressed concern about the power the companies wield over public discourse.

Still, Microsoft has benefited from Trump policies in the past.

In 2019, the Pentagon awarded it a $10 billion cloud computing contract that Amazon had widely been expected to win. Amazon later alleged that Trump exerted improper pressure on military officials to steer the contract away from its Amazon Web Services unit.

This post appeared first on NBC NEWS

Barrick Employees Detained in Mali as Mining Sector Tensions Escalate

The ongoing disputes between the Malian government and international mining companies continue to intensify as Barrick Gold (NYSE:GOLD,TSX:ABX) recently confirmed four Malian employees from its Loulo-Gounkoto mining complex had been arrested.

Barrick reported on November 26 that the employees had again been detained and charged pending trial. The company stated it refutes the charges, and said it remains committed to engaging with the government to reach a resolution that ensures the long-term viability of its operations in Mali.

This marks the latest development in a series of confrontations centered around Mali’s lucrative gold mining sector.

The new arrests come just weeks after Mali demanded US$162 million in back taxes from Resolute Mining (ASX:RSG,LSE:RSG) and detained its CEO, Terence Holohan, along with two senior executives, on November 8.

The detentions were linked to a sector-wide audit conducted by the government. Resolute denied the claims and stated that it had followed all official processes in response to the audit. However, the company ultimately agreed to the payments, and the government released the executives on November 21.

As of November 28, Resolute has paid US$130 million to the government, and plans to pay the rest by the end of the year.

As for the conflict between Barrick and Malian authorities, it has been ongoing since late September, when the same four employees were detained for the first time. Barrick and the government reached a preliminary agreement on September 30 to establish a framework for resolving disputes and increasing the state’s share of benefits from the Loulo-Gounkoto complex, resulting in the employees’ release.

However, on October 8, the Malian government announced it wanted at least US$512 million from the company, claiming outstanding taxes and dividends. Then, in late October, the Malian government accused the company of breaching commitments under an agreement designed to ensure a fairer distribution of mining revenues.

Barrick disputed these claims and emphasized that it had made a US$85 million payment to the government as part of its efforts to resolve outstanding issues.

However, negotiations have stalled in recent weeks, culminating in the new detentions.

Mali government’s efforts to restructure mining agreements

Mali’s military-led government has been pushing for greater control over the mining sector since it revised its mining code. It seized power in the country through a coup in 2020.

The updated framework requires foreign companies to cede more financial benefits to the state, which heavily relies on gold mining as a primary source of revenue.

The detentions of employees from Barrick and Resolute reflect the government’s changed stance in asserting its authority over the sector. Officials argue that increased revenue from mining is essential for national development, but the confrontational approach has raised concerns among international investors.

Resolute and Barrick are among the largest mining operators in Mali, and their disputes with the government could have far-reaching implications for Mali’s mining sector, which accounts for a significant portion of the country’s GDP and export revenue.

The heightened tensions are creating instability in the sector, and industry observers warn that the government’s actions risk alienating foreign investors, potentially affecting production levels and slowing future investment.

Barrick has highlighted its 30 year history of cooperation with successive Malian governments, and its president and CEO, Mark Bristow, is calling for continued dialogue to resolve the current impasse.

“Our attempts to find a mutually acceptable resolution have so far been unsuccessful, but we remain committed to engage with the government in order to resolve all the claims levied against the company and its employees and secure the early release of our unjustly imprisoned colleagues,” Bristowe said in the company’s most recent update.

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

This post appeared first on investingnews.com

Drone company’s stock soars after it appoints Donald Trump Jr. to advisory board

Shares in a little-known drone company soared Wednesday after it announced that Donald Trump Jr. had joined its advisory board.

Unusual Machines, an Orlando, Florida-based firm born just two years ago as it acquired a drone manufacturer and a separate drone retailing firm, announced the appointment in an early-morning news release.

“Don Jr. joining our board of advisors provides us unique expertise we need as we bring drone component manufacturing back to America,” CEO Allan Evans said in the release. “He brings a wealth of experience and I look forward to his advice and role within the Company as we continue to build our business.”

Trump Jr., in the statement, also put the move in the context of the America First economic agenda of his father, President-elect Donald Trump.

“The need for drones is obvious. It is also obvious that we must stop buying Chinese drones and Chinese drone parts,” Trump Jr. said. “I love what Unusual Machines is doing to bring drone manufacturing jobs back to the USA and am excited to take on a bigger role in the movement.”

After Unusual Machines announced Trump Jr.’s move, its stock nearly doubled to more than $10 on heavy trading volume before it gave back some of the gains. It closed at $9.89 a share Wednesday afternoon. In May, the stock fell to as low as 98 cents.

According to a share offering detailed in a securities filing Wednesday, Trump Jr. is listed as having owned 331,580 shares of Unusual Machines. Of those, 131,580 shares were held because of his participation in a private placement offering of shares at a purchase price of $1.52 per unit.

Trump Jr. holds the remaining 200,000 shares as the result of a restricted stock unit agreement and advisory agreement, the filing says. Half of those shares can be immediately sold when the company’s board approves the agreements, and the rest will vest on May 22. The filing says “the Selling Stockholders may sell all, some or none of the offered Shares in this offering.”

Brian Hoff, the chief financial officer, declined to comment when asked what Trump Jr.’s advisory agreement will require of him.

Wednesday’s stock surge demonstrates the extent to which an association with the Trump name can transform an entity’s fortunes, for better or worse. During Donald Trump’s first term as president, his social media posts mentioning a company or one of its executives could cause shares to slide or jump, creating material risks or gains for investors.

Unusual Machines already had some momentum this month, having posted large gains after Election Day. Still, even with the share increases, its market value stood at a relatively meager $69 million as of early Wednesday afternoon.

Unusual Machines also finds itself potentially in the crossfire if President-elect Trump launches a new trade war with China. The company notes in the securities filing its heavy reliance on Chinese imports, which Trump now says would face punitive tariffs once he takes office. “If there are increased tariffs imposed, it could materially and adversely affect our business and results of operations,” the company said in a regulatory filing, warning of potential price increases.

An Unusual Machines spokesperson didn’t immediately respond to a request for comment.

In February, Unusual Machines closed its initial public offering of 1.25 million shares of stock for net proceeds of $3.85 million, according to CNBC.

When the company completed its IPO, it also acquired the drone brands Fat Shark and Rotor Riot from Red Cat. Jeffrey Thompson, the founder and CEO of Red Cat, is the founder and previous CEO and current board member of Unusual Machines.

In a recent regulatory note, Unusual Machines said it changed its accounting firm in April and “terminated its engagement with their prior auditor.” The firm in question was BF Borgers CPA, which also had been the auditor for Trump Media, the Truth Social parent company whose majority owner is the president-elect.

The Securities and Exchange Commission charged BF Borgers in May with “massive fraud” for work that affected more than 1,500 SEC filings. The auditor and owner Benjamin Borgers agreed to be permanently suspended from practicing as accountants before the SEC and to pay a combined $14 million in penalties.

Trump Media soon after retained a new auditor to replace BF Borgers.

Unusual Machines in its recent quarterly report said that its own new accounting firm re-audited the company’s prior financial statements and found that various transactions and stock compensation expenses weren’t recorded.


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Navigating Holiday Stock Market Changes: Turn Sentiment Shifts into Successes

The day before Thanksgiving, the stock market took a little breather. But the weekly performance was still impressive.

The Dow Jones Industrial Average ($INDU) remains the broader index leader, rising 0.96% for the week. The S&P 500 ($SPX) and the Nasdaq Composite ($COMPQ) ended the week with smaller gains than the Dow. Earlier in the week, investors were more bullish, but Wednesday’s selloff didn’t disrupt the uptrend.

It may have been a short trading week, but we got a handful of economic data to chew on. The revised Q3 GDP data shows the US economy grew at a 2.8% annual rate, last week’s jobless claims came in lower than expected, and durable goods fell 0.2% in October.

The Fed’s preferred inflation gauge, PCE rose 2.3% year-over-year in October, which was in line with expectations but slightly higher than last month’s 2.1% rise. This indicates that inflation is moving away from the Fed’s inflation target of 2%. Core PCE came in higher at 2.8% year-over-year.

Earlier this week, we had the FOMC minutes. They indicated that the Fed will gradually cut interest rates if the economy continues to perform as expected. According to the CME FedWatch Tool, there’s now a 66.5% probability of a 25-basis-point rate cut in the December meeting.

The Stock Market’s Reaction

Looking at the 5-day change in performance using the StockCharts MarketCarpets, heavyweights NVIDIA Corp. (NVDA), Alphabet Inc. (GOOGL/GOOG), and Tesla Inc. (TSLA) were the largest decliners. The performance of these large-cap stocks would have been the tailwinds that held the Nasdaq and S&P 500 back.

FIGURE 1. 5-DAY PERFORMANCE OF THE S&P 500 THROUGH THE MARKETCARPET LENS. There’s a lot of green, but some large-cap stocks saw declines.Image source: StockCharts.com. For educational purposes.

This week, money rotated from energy and technology stocks into real estate, consumer staples, and financial stocks. Antitrust efforts against Alphabet and now Microsoft, along with tariff talks impacting semiconductor stocks, have hurt the stock prices of several mega-cap tech stocks. With cash leaving these stocks, small- and mid-cap stocks have benefited, although they, too, came off their highs by the end of Wednesday’s trading.

The Dow reached an all-time high on Wednesday but sold off, ending the day slightly lower. The uptrend is still intact, as seen in the daily chart below.

FIGURE 2. DAILY CHART OF THE DOW JONES INDUSTRIAL AVERGE ($INDU). The uptrend is still intact with the 21-day EMA, 50-and 100-day SMAs trending upward. The Dow is outperforming the S&P 500 slightly.Chart source: StockCharts.com. For educational purposes.

The Dow is trading well above its upward-sloping 21-day exponential moving average (EMA). It’s also slightly outperforming the S&P 500 by 1.27%. The S&P 500 has a similar pattern, but the Nasdaq Composite is struggling.

The daily chart of the Nasdaq below shows that it is underperforming the S&P 500, albeit slightly.

FIGURE 3. DAILY CHART OF NASDAQ COMPOSITE. Even though the Nasdaq is the weaker performer of the three broad indexes, its trend is still positively sloped and holding the 21-day EMA support. The Nasdaq is underperforming the S&P 500 slightly.Chart source: StockCharts.com. For educational purposes.

The long-term trend is still in play. The 21-day EMA is trending upward and continues to be a valid support level for the index.

In the Bond World

The biggest action this week was the sentiment shift in the bond market. Treasury yields were rising until last week. However, several events this week have eased inflation fears, resulting in declining Treasury yields and rising bond prices (bond prices and yields move in opposite directions). Wednesday’s PCE data didn’t change the directional move.

The chart below shows that the 10-Year US Treasury Yield ($TNX) met resistance at its July 1 close and reversed. It is now trading below its 21-day EMA.

FIGURE 4. DAILY CHART OF THE 10-YEAR US TREASURY YIELD. The 10-year yield hit a resistance level and, since then, has been trending lower. It is now trading below its 21-day EMA. The rate of change (ROC) indicates the decline is accelerating.Chart source: StockCharts.com. For educational purposes.

The rate of change (ROC) indicator in the lower panel is below zero. This means that yields are falling relatively quickly.

The bottom line: Equities may have sold off on Wednesday, but nothing to disrupt the uptrend. A little profit-taking ahead of the holiday shopping season shouldn’t come as a surprise. You deserve to celebrate consumerism once in a while.

Wishing everyone a happy, healthy Thanksgiving!

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.

Five Ways You Should Use ChartLists Starting Today!

Having used many technical analysis platforms over my career as a technical analyst, I can tell you with a clear conscience that the ChartList feature on StockCharts provides exceptional capabilities to help you identify investment opportunities and manage risk in your portfolio.

Once you get your portfolio or watch list set up using the ChartList feature, you can use these five powerful tools to break down the list of stocks or ETFs, identify patterns of strength and weakness, and anticipate where the next opportunities may arise!

Summary View to Identify Outliers

The Summary view is a great starting point, sort of like a high level menu of what all we can do with this list of charts.  All of the columns are sortable, so we can begin to find patterns and relationships by grouping similar stocks by sector or sorting by market cap.

One of my favorite things to do right off the bat is sort by “Next Earnings Date”.  Whether you’re a long-term investor or a swing trader or somewhere in between, you always want to know when earnings could create a sudden move in either direction!

ChartList View to Analyze Technical Patterns

Once I’ve made some general assessments about the stocks on my list using the Summary View, I like to use the ChartList view to review each chart, one by one.  This view uses the alphabetical order of the titles of your charts, so make sure to add numbers before the tickers if you prefer a particular order.

Especially when I’m reviewing a longer list of tickers, I’ll use the ChartList view to go through a bunch of charts, jotting down tickers on my notepad for further review later in the day.  It’s easy to switch all of the charts to a different ChartStyle, which comes in handy if you want to switch to weekly or monthly charts, for example.  Just select one of the charts, change the ChartStyle, then look for a link called “Apply ChartStyle to All” at the bottom!

CandleGlance View to Separate Into Buckets

When I worked at a large financial institution in Boston, I would print out a bunch of charts representing a particular fund’s holdings, then spread the charts out on a conference table.  I’d look for similar patterns and structures, and start to separate the charts into bullish, bearish, and neutral piles.  From there, I could focus my attention on the most actionable charts.

The CandleGlance view provides this capability without having to print out all of those charts!  We can easily detect similar patterns and signals, helping me spend my time on the most actionable charts within a larger list.  I can’t tell you how much time this one feature has saved me in terms of efficiently breaking down a list of charts!  Don’t forget that you can customize the ChartStyle you use for this view, allowing you to apply your own proprietary charting approach to this visualization.

Performance View to Focus on Consistent Winners

What if you just want to analyze the performance of a group of stocks or ETFs, to better understand which charts have been the most and least profitable over a period of time?  The Performance View shows a series of time frames in tabular format, allowing you to focus on top and bottom periods over multiple time frames.

This can be a fantastic way to break down your portfolio, helping you better understand which positions have been helping your performance, and which ones may actually have been holding you back!

Correlation View to Understand Price Relationships

Finally, we come to one of the most underutilized features of ChartLists, and that’s the Correlation View.  This can help better define the relationship between two different data series, and identify which stocks or ETFs could help us diversify our portfolio.

I like to sort this view in ascending order based on the 20-day correlation as a starting point.  Which stocks demonstrated a very different return profile from the S&P 500?  When it feels as if all stocks are doing about the same thing, this one feature can help you quickly identify outliers and positions which could help you improve your performance through diversification.

I’ve found the ChartList capabilities to be some of the most powerful features on the StockCharts platform.  Once you get into the habit of using these incredible list management and analytical tools, I hope you’ll enjoy a greater amount of market awareness in your life!

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

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.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Rua Gold Acquires Siren Gold’s Reefton Assets for AU$22 Million

Siren Gold (ASX:SNG) announced on Tuesday (November 26) that it has completed the sale of its wholly owned subsidiary, Reefton Resources, to Rua Gold’s (TSXV:RUA,OTCQQB:NZAUF)wholly owned subsidiary Reefton Acquisition.

Reefton Resources is the owner of the Reefton project in New Zealand.

The sale will establish Rua Gold as a dominant landholder in the Reefton region, with approximately 1,196 square kilometers of tenements in the historical and past-producing Reefton Goldfields, which produced over 2 million ounces at 15.8 grams per tonne gold.

According to Siren’s resource update for its Reefton project on September 17, the project’s deposits host a combined inferred JORC compliant mineral resource of 483,000 ounces of gold from ore grading 3.86 grams per tonne gold, as well as 14,500 tonnes of antimony at a grade of 1.7 percent.

Rua will also be positioned as the preeminent gold explorer in New Zealand, with a market capitalisation of approximately AU$41.9 million.

In exchange for Reefton Resources, Rua will pay Siren AU$18 million in shares and a further AU$4 million cash. The cash payments include: forgiving an AU$1 million promissory note upon signing the agreement, an AU$1 million cash payment at completion and the issue of 10,000,000 Siren shares to Rua (or its nominee) at AU$0.20 per share around the completion date.

Once the sale is complete, Siren will have a 26.1 percent stake in Rua, and Rua will hold a 7.51 percent stake in Siren. Rua will also transfer the Langdons antimony-gold project back to Siren.

“Since we listed Siren on the ASX in 2020, the vision has been to consolidate the historical Reefton belt to give it the best chance of bringing the multiple high-grade projects into a central processing hub model,” Siren Managing Director and CEO Victor Rajasooriar said.

Following this transaction, Siren will concentrate on the Sams Creek gold project and the Langdons and Queen Charlotte antimony-gold projects.

For its part, Rua will focus on the exploration and development of the combined Reefton belt. The company completed a C$8 million capital raising in July.

Siren first publicised this transaction on July 15, and the deal was approved by its shareholders on October 28.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com