Canadian Cannabis: Canaccord Lifts Cronos Target, Reiterates Canopy Growth And Tilray Ratings
Yesterday Canaccord Genuity Capital Markets put out a second-quarter preview note on the top Canadian cannabis companies, being Cronos Group (TSX: CRON), Tilray Brands (TSX: TLRY) and Canopy Growth (TSX: WEED). In the note, Canaccord raised their rating on Cronos from a hold to a buy rating while also raising their price target from C$4.50 […]
EU Gas Prices Soaring Once Again as Countries Agree to Cut Consumption by 15%
Natural gas prices in the EU are climbing sharply once again, after Russia slashed shipments to only 20% capacity via the Nord Stream 1. With Gazprom slated to send one more turbine into maintenance and reduce gas capacity to 20% come Wednesday, EU nations are becoming increasingly worried about the future of their energy supply. […]
Trillion Energy Sees Drill Rig Ready For Transit To SASB Gas Field
Trillion Energy International (CSE: TCF) is one step closer to drilling its SASB Gas Field in the Black Sea off the coast of Turkiye. The firm this morning indicated that the drilling rig to be used for the program is in the process of being prepared to transit to the field. The drill rig, referred […]
In an About-Face, Senator Manchin Signs Off On A Bill That Reflects President Biden’s Spending Priorities
On July 27, Democratic U.S. Senator Joe Manchin (West Virginia), who is almost universally viewed as the key swing vote in the Senate, reached a deal with the leader of the mainstream group of Democratic senators, Chuck Schumer of New York, on important energy, health care and tax issues. Senator Manchin’s action represents a remarkable […]
Kinross Gold Reports Q2 2022 Results: US$821.5 Million In Revenue, 453,978 Gold Equivalent Ounces Produced
Kinross Gold Corporation (TSX: K) reported on Wednesday its Q2 2022 production and financial results. The mining firm produced 453,978 gold equivalent ounces from continuing operations for the quarter, up from 413,350 ounces produced in Q1 2022 and 381,474 ounces produced in Q2 2021. The firm also recorded the production results from the discontinued operations […]
The Recession of 2022: GDP Dips 0.9%, Second Consecutive Quarterly Decline
Despite the Biden administration’s enduring efforts to change the definition of a recession and Jerome Powell’s insistence that the US is not currently in a recession, we are are still going to call a spade a spade. Hot-off-the-press preliminary data from the Bureau of Economic Analysis shows that second quarter GDP fell 0.9%, marking the […]
McEwen Mining Conducts 10-to-1 Reverse Split To Meet NYSE Listing Requirements
McEwen Mining (TSX: MUX) will begin trading on a post-consolidation basis at the open of markets this morning. The split, which went into effect at the close of market yesterday, was conducted as a means of regaining compliance with New York Stock Exchange listing requirements. The consolidation, or reverse split as the company refers to […]
Carbon Streaming Supports Canadian Reforestation Project
Carbon Streaming Corp (NEO: NETZ) has entered into a support arrangement with another project, with the latest project being based in Canada. The details of the new arrangement were included within a corporate update issued by the company this morning. The arrangement saw the company provide term sheet funding to the Citadelle Maple Syrup Producers […]
Tilray Brands Sees Fourth Quarter Impacted By Massive Impairments, Negative Gross Profit
Tilray Brands (TSX: TLRY) this morning reported its fourth quarter and full year fiscal 2022 financial results. The results were highlighted by slowing quarterly growth, as well as major impairments that resulted in a significant net loss. Revenue for the quarter amounted to $153.3 million, marking growth of 0.96% on a quarter over quarter basis. […]
Jerome Powell Hikes Rates 75 Basis Points, Doesn’t Believe Economy Is In A Recession
The Federal Reserve on Wednesday delivered on a much-anticipated 75 basis-point rate hike, whilst acknowledging the US economy is weakening from pandemic highs— but is not a recession! With inflation at 40 year-highs, and spending and job production on the decline, Fed Chair Jerome Powell walked a very narrow tightrope today, putting all efforts into […]