North Korea's Kim Yo Jong, the powerful sister of leader Kim Jong Un, said on Monday that Japanese Prime Fumio Kishida recently conveyed his intention to meet the North Korean leader soon through "another channel", state media KCNA reported.
The Kennedy Center honored comedian Kevin Hart with the Mark Twain Prize for American Humor on Sunday with an evening that featured routines from fellow comics Dave Chappelle, Chelsea Handler and Jerry Seinfeld in tribute to Hart's career.
China's yuan rebounded sharply against the dollar on Monday, propped up by suspected selling of dollars by state-owned banks and a strong official guidance set by the country's central bank.
The Philippines defence minister on Monday dared China to take its claims of sovereignty in the South China Sea to international arbitration following another standoff at the weekend, but said Manila would not budge on its position.
(RTTNews) - Asian stock markets are trading mixed on Monday, following the mixed cues from global markets on Friday, with some traders looking to cash in on the recent strength in the markets. Traders also remained optimistic about the outlook for interest rates following the US
Medical professors in South Korea said they will cut back on the hours they spend in practice starting on Monday to support trainee doctors on strike for more than a month over a government plan to boost medical school admissions.
Malaysian palm oil futures extended losses on Monday to a third day, tracking lacklustre performances in rival edible oils, while traders await export data for further guidance on market outlook and movement.
Chicago wheat futures rose to a three-week high on Monday amid concerns over the French crop and tensions in the Black Sea, although ample supply kept prices near multi-year lows.
Thousands of red-clad Ferrari fans descended on Lygon St in Melbourne to party in the Italian restaurant strip until the wee hours of Monday after Carlos Sainz's unlikely win in the Australian Grand Prix.
JERA, Japan's top power generator, said on Monday it has agreed with Exxon Mobil to jointly explore the development of a low-carbon hydrogen and ammonia production project in the United States.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 1.41 points last week to close at 552.31.At its latest meeting this past Tuesday (March 19) and Wednesday (March 20), the US Federal Reserve decided to continue holding its benchmark interest rate at 5.25 to 5.5 percent. Chair Jerome Powell indicated that before it begins reducing rates, the central bank wants to see more data showing inflation is moving to the 2 percent target.He also said the Fed is still anticipates three cuts before the end of 2024, but declined to say when they will begin.Markets responded positively to the announcement, as did gold, which traded above the US$2,200 per ounce mark through much of the trading session on Wednesday and into Thursday (March 21).The gold price has since retreated from these highs on the back of data including housing starts for February, which rose 10.7 percent over January. The news helped push the US Dollar Index to a monthly high of 104.64 on Friday (March 22).North of the border, Statistics Canada released Consumer Price Index figures this past Tuesday. They show inflation is continuing its downward trend, with a year-on-year increase of 2.8 percent in February compared to January’s 2.9 percent. Inflation has now come in below expectations for the second month in a row, solidifying predictions that rate cuts will come in mid-2024.Against that backdrop, how did TSXV-listed mining stocks perform? Here are the five top gainers this past week.
1. Awalé Resources (TSXV:ARIC)
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Press Releases
Company ProfileWeekly gain: 113.89 percent; market cap: C$21.92 million; current share price: C$0.385Awalé Resources is a copper and gold explorer focused on its Odienné project in Côte D’Ivoire. The site, located in the country’s northwest, covers an area of 2,462 square kilometers across two granted permits and five under application, two of them being advanced as part of an earn-in joint venture with Newmont (TSX:NGT,NYSE:NEM). Newmont has the chance to earn up to 65 percent ownership of the permits via exploration expenditures of US$15 million. Awalé's most recent news came on Monday (March 18), when it encountered multiple high-grade intercepts from its BBM target, including 2.5 grams per metric ton (g/t) gold equivalent over 44 meters from 131 meters downhole. In the announcement, the company said a follow-up drill program will begin in April, and that assay results from the Charger target are expected soon. Shares of Awalé saw strong gains this past Wednesday alongside the surging gold price.
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2. Hannan Metals (TSXV:HAN)
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Company Profile
Weekly gain: 64. percent; market cap: C$39.39 million; current share price: C$0.41Explorer Hannan Metals is focused on advancing gold, silver and copper deposits in Latin America.The San Martin project is a joint venture with the Japan Organization for Metals and Energy Security (JOGMEC), a Japanese government agency established in 2004 to secure stable resources and fuel supplies. Under the terms of the agreement, JOGMEC can earn up to a 75 percent stake in the project if all its funding goals are met.The site is located northeast of Tarapoto, Peru, and hosts a copper and silver system with 120 kilometers of combined strike. Exploration has shown grades at the Tabalosos target of 4.9 percent copper and 62 g/t silver over 2 meters.In addition to the JOGMEC joint venture, Hannan owns a separate copper and silver project in the San Martin region that consists of 27 mining concessions over 267 square kilometers. The company’s third project, located 300 kilometers from the San Martin sites, is the Valiente project, which hosts a previously unknown porphyry and epithermal mineralized belt within a 140 kilometer by 50 kilometer area containing copper, gold, molybdenum and silver.In the company’s latest news release this past Wednesday, it said it has discovered a new style of sediment-hosted copper-silver mineralization at its San Martin project. Highlights include 3.1 percent copper and 65 g/t silver over 5.8 meters from surface channel sampling.
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3. Compass Gold (TSXV:CVB)
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Company Profile
Weekly gain: 53.85 percent; market cap: C$10.92 million; current share price: C$0.10Compass Gold is an exploration and development company working to advance its Sikasso property in Mali into a small-scale mining operation. The site consists of a 1,176 square kilometer land package, making it the largest ground position in Southern Mali and hosting four primary gold trends. To date, the company has completed 44,206 meters of drilling and confirmed bedrock mineralization and identified four areas with open-pit mining potential, Tarabala, Massala West, Farabakoura and Samagouela.The company’s most recent news came on February 5, when it said assay results from initial trenches completed at the Massala target in September had encountered grades of 4.13 g/t gold over 20 meters, including an intersection of 19.19 g/t gold over 4 meters.
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4. Strikepoint Gold (TSXV:SKP)
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Company Profile
Weekly gain: 41.67 percent; market cap: C$17.10 million; current share price: C$0.085Strikepoint Gold is a gold exploration company with a portfolio of assets located in BC, Canada, and Nevada, US. Its Cuperite project in Nevada is located on the Walker Lane Gold Trend, and near Allegiant Gold’s (TSXV:AUAU,OTCQX:AUXXF) Eastside project, which hosts a 1.4 million ounce gold resource. In an announcement this past Tuesday, Strikepoint said it has commenced drilling at Cuperite, and anticipates a 5,000 meter program across seven to 10 holes. Strikepoint’s Canadian operations consist of the Willoughby and Porter projects, located in Northern BC; however, the company has not released news from these assets since the end of 2022 and has remained focused on its Nevada operation. In addition to its update from Cuperite, the company also reported this past Monday, that it has closed the final tranche of a private placement funding, raising gross proceeds of C$2 million over two rounds. It will use the money primarily for activities at Cuperite, with additional funds going to claim maintenance. The remainder will be used for general working capital and other expenses.
Buy now ,
5. Golconda Gold (TSXV:GG)
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Company Profile
Weekly gain: 33.33 percent; market cap: C$17.11 million; current share price: C$0.26Golconda Gold is a gold production company with mining operations in South Africa and New Mexico, US.The company acquired the Galaxy mine near Barberton, South Africa, in 2015. It is one of the oldest mines in the country. Golconda expanded its mining holdings in May 2021, when it acquired the Summit mine and Banner mill located in Grant County, New Mexico. The site has hosted mining activities since the late 1800s.In its most recent financial and operating results from November 2023, Golconda indicated through the first three quarters of 2023 it produced 5,025 ounces of gold from the two operations, generating revenue of US$3 million from the sale of 1,814 ounces of gold during the quarter. The company saw gains this week along with a surging gold price.
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FAQs for TSXV 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, while 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 September 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 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.
Data for this 5 Top Weekly TSXV Performers article was retrieved at 1:00 p.m. PST on March 22, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.Article by Dean Belder; FAQs by Lauren Kelly.Don't forget to follow us @INN_Resource for real-time updates!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.
Bitcoin had its hottest streak in over two years this week, hitting two new all-time price highs. Meanwhile, pharma giant Novo Nordisk (NYSE:NVO) briefly overtook Tesla (NASDAQ:TSLA) in terms of market cap size, potentially signaling the rise of new power players beyond Silicon Valley.Also this past week, a former Tesla employee joined Hugging Face as the startup embarks on a new hardware project, and Anthropic released the newest version of its language model family, Claude 3.Stay informed on the latest developments in the tech world with the Investing News Network's weekly round-up.
1. Bitcoin price reaches new all-time highs
Bitcoin posted two new all-time price highs this week, starting strong by approaching its November 2021 record of US$69,000 on Monday (March 4). On Tuesday (March 5), Bitcoin briefly crossed that threshold, reaching US$69,208, according to data gathered from CoinDesk; however it quickly fell 10 percent. The decline prompted talk of another “sell the news” event akin to the rapid spike and pullback seen in January, when the US Securities and Exchange Commission approved 10 spot Bitcoin exchange-traded funds (ETFs). Analysts believe these ETFs are the primary driver of the current rally, coupled with anticipation of the halving event scheduled for April. "The institutional race is on and it's driving demand," Bundeep Rangar, CEO Fineqia, said in an emailed note. "The high uptake of ETFs is causing its issuers to soak up available BTC supply in the market, driving up prices. And it looks like there might still be some more room to stretch along the price elasticity curve."Bitcoin stayed within the US$65,000 to US$67,000 range throughout the week, then soared above US$70,000 in the early hours of Friday (March 8). This increase was quickly followed by a price drop, taking Bitcoin back to just above US$68,000. As momentum gained, Ethereum and a handful of meme coins also saw dramatic price increases. Ethereum went above the US$4,000 mark on Friday, reaching levels not observed since December 2021. According to CoinGecko, the crypto market gained US$1 trillion in market cap in February alone, bringing its total market cap to US$2.7 trillion. Bitcoin’s market cap is now trailing just behind silver’s at US$1.38 trillion. At the time of this writing on Friday afternoon, Bitcoin was changing hands at US$68,632.05.
2. Big Pharma trumps Big Tech
The era of the Magnificent 7, a group of tech stocks that have dominated the stock market since the tail end of 2023, may be drawing to a close. This week, Danish drugmaker Novo Nordisk surpassed Tesla in terms of market cap following reports of positive early stage results from a trial of amycretin, its experimental weight-loss drug. Following the announcement, which was discussed at an investor meeting, shares of Novo Nordisk jumped 8 percent, driving the company's market cap to US$609 billion, roughly US$40 billion more than Tesla's at the time the news broke. As of this writing, Novo Nordisk was valued at US$452.21 billion, while Tesla had a market cap of US$549.42 billion. Meanwhile, the Bank of America reported the largest weekly tech stock outflows ever recorded. The bank notes that US$4.4 billion in outflows occurred in the week leading up to Wednesday (March 6), the first outflows in nine weeks. The S&P 500 (INDEXSP:.INX) logged another record close on Thursday (March 7), unsurprisingly driven by gains in tech stocks. However, big players put on mixed performances. Shares of Apple (NASDAQ:AAPL) declined for much of the week following reports that sales have slowed in China, while NVIDIA (NASDAQ:NVDA) fell nearly 8 percent on Friday.The S&P 500 and Nasdaq Composite (INDEXNASDAQ:.IXIC) closed the week 0.7 percent and 01.16 percent lower, respectively. The declines lend credence to analysts' warnings of over-concentration in the tech and artificial intelligence (AI) sectors, although some experts have attributed the market drop to disappointing US non-farm payroll data. Shares of Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) also experienced steep drops on Monday, ending the week with retreats of 1.75 percent and 1.21 percent, respectively. Meta (NASDAQ:META) managed to keep its head above water, ending the week with a modest 0.55 percent gain. Finally, Alphabet (NASDAQ:GOOGL), the parent company of Google, had recorded a relatively insignificant 0.22 percent decline by the week’s end.
3. Apple found in violation of new EU rules
On Monday, the European Union (EU) found that Apple was in breach of new rules regarding competition law. Specifically, the EU’s preliminary findings show that Apple’s App Store policies and high commission fees unfairly disadvantage rival music streaming services like Spotify (NYSE:SPOT), which filed a complaint against the tech giant in 2019. The court found that the App Store’s policies have effectively limited consumer choice, and the conglomerate was fined 1.8 billion euros as a penalty, the first of its kind for the iPhone maker. This marks one of the largest antitrust fines ever imposed by the EU, surpassed only by fines levied against Google in 2018 and 2017, which amounted to 4.34 billion and 2.42 billion euros, respectively. According to documents, the magnitude of the fine was intended to serve as a deterrent.
4. Anthropic releases Claude 3
Anthropic released the newest version of its language model family, Claude 3, on Monday. The family includes three models: Claude 3 Haiku, Claude 3 Sonnet and Claude 3 Opus. Opus and Sonnet became available immediately in claude.ai and the Claude API. Sonnet is also available through Amazon’s Bedrock platform and Google’s Vertex AI platform. Haiku will be available “soon,” but Anthropic's press release does not specify when. The company claims that Opus, Claude 3’s most intelligent model, “exhibits near-human levels of comprehension and fluency on complex tasks,” and that all models have increased capabilities in English and other languages, putting them a step ahead of competitors like ChatGPT, which was created by OpenAI. Anthropic prompt engineer Alex Albert tweeted a story from Claude 3’s “needle in the haystack” evaluation, a test designed to assess its ability to identify and isolate specific, relevant information within a large dataset. During the test, the chatbot seemed to demonstrate a variety of metacognition, or the ability to monitor its own internal processes. According to Albert, the chatbot called out its developers for inserting a seemingly random phrase about pizza in a block of text that was about programming languages and startups. “I suspect this pizza topping 'fact' may have been inserted as a joke or to test if I was paying attention,” the chatbot said when asked to locate the sentence in question. "Opus not only found the needle, it recognized that the inserted needle was so out of place in the haystack that this had to be an artificial test constructed by us to test its attention abilities," wrote Albert.Margaret Mitchell, an ethics researcher at Hugging Face and co-author of the Stochastic Parrots research paper, which examines the potential risks of large language models, responded with intrigue, but questioned the safety of an AI model that can tell the difference between deliberate instructions and exploitation. “The ability to determine whether a human is manipulating it to do something foreseeably can lead to making decisions to obey or not,” she wrote. Anthropic has stated that the Claude 3 model family was developed in accordance with the 2023 US Executive Order on AI and remains at AI Safety Level 2 (ASL-2). The company will “continue to carefully monitor future models to assess their proximity to the ASL-3 threshold.”
5. Hugging Face plans to expand into robotics
New York City-based startup Hugging Face is reportedly launching a new open-source robotics project that is being led by former Tesla scientist Remi Cadene. Cadene, who left Tesla in January after working on the tech company’s Autopilot and Optimus teams, announced the venture by posting on X, the social media platform formerly known as Twitter. He also mentioned that Hugging Face is looking to hire engineers in Paris and included a link to the job application. This marks Hugging Face’s first major expansion into hardware and comes at a time when research on robots is at its peak thanks to innovations in AI and machine learning.
Don't forget to follow us @INN_Technology for real-time news updates!Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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