PureGold’s “Operational Turnaround” Started With Layoffs, Biweekly Mill Schedule, 4-Month CEO
For Pure Gold Mining Inc. (TSXV: PGM), the year 2022 began with a promise of “operational excellence.” Four months into the year, the firm just replaced its 4-month-old CEO, reduced 20% of the workforce, transitioned to a biweekly milling schedule, and has constantly been facing cash problems. From where is the firm’s operational turnaround turning […]
Libero Copper Sees Judge Halt Exploration On Concession At Mocoa
Libero Copper & Gold Corp (TSXV: LBC) appears to be facing some headwinds just days after posting an impressive partial assay of 0.75% copper over 251 metres. The firm is evidently facing some issues related to the exploration of the Mocoa property, the same property where that assay was intersected. As it turns out, as […]
Scotiabank: Bank of Canada Could Unleash Goliath-Sized Full Percentage Point Hike at Next Meeting
Time to brace for impact: according to one Canadian bank, the Bank of Canada may hike rates by a full percentage point come its next meeting, in face of the hottest inflation in over 30 years. Scotiabank Capital Markets Economics head Derek Holt warned there is a “solid case” for the central bank to embark […]
Augusta Gold Drops US$45 Million On “Shovel Ready” Oxide Gold Project In Nevada
Augusta Gold (TSX: G) this morning announced it’ll be opening up its pocketbook to acquire a new property. The property, referred to as the Reward Project, is found just seven miles from the firms Bullfrog Project in Nevada. On a combined basis, the project is to be acquired for $45.0 million in both cash and […]
CloudMD Sees Chair Of The Board Resign Effective Immediately, No Replacement Named
Management continues to exit en masse from CloudMD Software and Services (TSXV: DOC) as tailwinds leave the healthcare tech sector. The firm this morning saw another resignation of a key member of management, this time the Chair of the Board. The latest member to resign from their role with the company is Mark Kohler, whom […]
Emerita Resources To Begin Drilling Romanera Deposit, The “Cornerstone Of The IBW Project”
Drilling of the Romanera deposit as part of the exploration of the Iberia Belt West Project in Spain is set to soon commence for Emerita Resources (TSXV: EMO). The firm this morning reported that the 15 day waiting period related to the issuance of the required drill permits has now lapsed. With the waiting period […]
Hexo Corp To Close Belleville Facility, Impacting 230 Employees
If one thing in the cannabis sector is almost guaranteed, its that Hexo Corp (TSX: HEXO) will shutter facilities after conducting acquisitions. This has held true yet again, with the company last night revealing it will be shuttering its Belleville operations as it looks to “streamline operations and capitalize on production efficiencies.” The facility closure […]
Israel Cuts US Dollar Holdings, Adds Chinese Yuan To Its $206 Billion Reserves
Israel’s central bank has made the biggest reallocations to its foreign currency reserves in over a decade. They will be slashing their reserves for the US dollar and euro to make room for the Chinese yuan, Japanese yen, and Canadian and Australian dollars. Including the British pound, the Bank of Israel will now have seven […]
Disappointing Netflix Subscriber News May be an Early Warning Signal About the Economy
On April 19, Netflix, Inc. (NASDAQ: NFLX) reported a surprise 200,000 drop in global subscribers in 1Q 2022, its first decline in more than ten years. Moreover, the company projects a further two million subscriber decline in 2Q 2022. In response, the stock in after-hours trading lost about a quarter of its value, equivalent to a market cap loss […]
CMHC: Canada’s Housing Market Slated to Cool From Historic Highs
Canada’s housing market is expected to recede from the historic highs witnessed throughout 2021, as higher mortgage rates and home prices erode away at homeownership affordability. The CMHC’s latest Housing Market Outlook paints an economic picture of reduced affordability, as low supply in high demand markets such as Vancouver and Toronto push home prices even […]