Bank for International Settlements Suspends Russia’s Membership
The Bank for International Settlements (BIS) axed Russia’s membership, marking a major retaliatory move among global bodies in response to President Vladimir Putin’s military operation in Ukraine. The BIS— often referred to as the “bank for central banks,” on Thursday suspended Central Bank of Russia’s access to its “services, meetings and other BIS activities,” following […]
DWAC CEO-Advised Telco SPAC Nubia Brand International Prices US$110 Million IPO
Special purpose acquisition company Nubia Brand International Corp. (Nasdaq: NUBIU) started trading its securities on the Nasdaq Global Market today. The firm priced its initial public offering, aiming to raise total proceeds of US$110.0 million. The offering will entail selling 11.0 million units, upsized from 10.0 million units, priced at US$10.00 per unit. Each unit […]
Are Lithium Prices Sustainable? – The Daily Dive
Returning to the Daily Dive today is Michael Dehn, President and CEO of United Lithium (CSE: ULTH). Michael joins us this afternoon to discuss the dependency on Russian fossil fuels, the current price action in gold, and the sustainability of lithium prices. Also discussed in the viability of recycling lithium batteries, China’s monopoly on the […]
Endeavour Mining Sells Karma Mine For $25 Million, 2.5% NSR, Lowers Production Guidance
Endeavour Mining (TSX: EDV) announced this morning the sale of 90% of its interest in Karma mine in Burkina Faso. The transaction is reportedly in exchange for $25.0 million and a 2.5% net smelter return royalty. The sale is made to Néré Mining, a Burkina Faso-based mining consortium, which the firm said was a “key consideration […]
After Recording Wider Losses, When Will Rivian Take A Turn?
Rivian Automotive, Inc. (Nasdaq: RIVN) shared on Thursday in a letter to shareholders its Q4 and full-year 2021 financial results, its first quarterly report since its IPO in November 2021. The firm recorded US$55.0 million in annual revenue, US$54.0 million of which was generated during Q4. The startup electric vehicle maker, which started production in […]
Wheaton Records US$1.20 Billion In Revenue In 2021
It seems that diversifying its portfolio proves to be working for Wheaton Precious Metals Corp. (TSX: WPM). The firm released on Thursday its Q4 and 2021 financial results, highlighting US$1.20 billion in annual revenue, up from 2020’s US$1.10 billion. The annual sales came from selling 663,415 gold equivalent ounces for the year, marginally up from […]
Canada’s Unemployment Rate Falls Below Pre-Pandemic Level for First Time
Canada’s labour market continued to tighten last month, with the unemployment rate falling below pre-pandemic levels for the first time since February 2020. According to Statistics Canada, the labour market added another 337,000 more jobs in February, causing the unemployment rate to fall one percentage point to 5.5%— just shy of the record-low observed in […]
Meta Platforms to Allow Posts Praising Neo-Nazi Group, Calls for Violence Against Russians
Meta Platforms (NASDAQ: FB) has made temporary changes to its hate speech policy, allowing Facebook and Instagram users in certain countries to incite violence against Russians and Russian soldiers, as well as allow posts praising Ukraine’s infamous Neo-Nazi group. In a shocking move, Meta Platforms will now allow certain posts on Facebook and Instagram inciting […]
Rio Tinto “In The Process of Terminating All Commercial Relationships” With Russian Firms
Rio Tinto (NYSE: RIO) became the latest multinational firm to sever ties with Russian businesses. The company is the first major player from the mining industry to announce its stand related to the ongoing war in Ukraine. “Rio Tinto is in the process of terminating all commercial relationships it has with any Russian [businesses],” said […]
McEwen Mining Guides To Up To 172,000 Gold Equivalent Ounces Of Production In 2022
McEwen Mining (TSX: MUX) last night announced its official guidance for calendar 2022. Guidance provided includes both production and cost guidance across the firms global operations. For the full year, the company currently expects to produce between 153,000 and 172,000 gold equivalent ounces. Broken down, it translates to 118,000 to 133,000 ounces of gold, and […]