US Strategic Petroleum Reserve Falls Below 500 Million Barrels, Lowest Since 1986
Continuing on with its plan of releasing 1 million barrels per day, the United States has seen its Strategic Petroleum Reserve fall below 500 million barrels–its lowest level in more than three decades. Based on the latest data from the US Energy Information Administration, the country’s reserves were 511.6 million barrels for the week ended […]
Voltage Metals Completes 2,460 Metre Drill Program At St Laurent Property
Drilling has been completed by Voltage Metals (CSE: VOLT) at its St Laurent property, which is located northeast of Timmins, Ontario. The program was completed in conjunction with downhole geophysical surveys as the company looks to gain a better understanding of mineralization on the property. A total of seven holes were conducted under the program, […]
Can Frontier Save Merger With Spirit Airlines? JetBlue Ups Its Bid, Again
The acquisition tug-of-war intensifies to win the belle of the airline ball Spirit Airlines, Inc. (NYSE: SAVE). Days ahead of the shareholder vote on the proposed merger with Frontier Airlines, Inc. (Nasdaq: ULCC), the latter sweetened its bid by at least US$2.00 per share on Monday. Frontier raised the cash consideration of the proposed cash-and-stock […]
Pegasus Resources Begins Radon Survey At Pine Channel Property
Exploration has begun for Pegasus Resources (TSXV: PEGA) at their Pine Channel property within the Athabasca Basin of Saskatchewan. The firm this morning indicated it has begun a RadonEX survey of the property. The survey will be conducted a means of measuring radon anomalies on the property, to assist in the search for uranium. Such […]
Newcore Gold Looks To Raise $5.0 Million To Fund Further Exploration
Newcore Gold (TSXV: NCAU) is looking to raise further funds for its exploration program despite the poor market conditions. The firm this morning indicated it is looking to raise $5.0 million to fund exploration and development of the firms flagship Enchi Gold project in Ghana. The offering, to be led by Stifel GMP, is to […]
NG Energy Hits 100 Feet Net Pay At Magico-1
NG Energy (TSXV: GASX) this morning issued a brief update on the status of its Magico-1 well, indicating it has hit the primary objective of the drill program. The drill program represents the first such program being conducted on the Sinu-9 block, which is the firms flagship asset in Colombia. Magico-1 has reportedly intersected the […]
enCore Energy Enters Uranium Supply Agreement For Up To 600,000 lbs U3O8
enCore Energy (TSXV: EU) appears to have an in-demand product. The firm this morning revealed it has entered into uranium purchase sales agreement, the third such arrangement entered into by the company. The agreement will see the company sell its uranium to a US based nuclear power firm, with further details of the buyer not […]
Bank Of Canada: Economists See A Full-Point Rate Hike For July
Strategists at JPMorgan are seeing a full percentage point interest hike from the Bank of Canada at its July meeting following the record-breaking inflation data for the month of May. Canada’s consumer price index rose 7.7%, significantly higher than the consensus estimate of 7.4% and almost a full point over April’s reading of 6.8%. It […]
G-7 Unveils US$600 Billion Plan To Rival China’s Belt and Road Initiative
Leaders of the G-7 nations have unveiled their plans to form a “transparent infrastructure partnership” that will allow them to “mobilize $600 billion by 2027 in global infrastructure investments” in low- to middle-income countries. The Partnership for Global Infrastructure and Investment (PGII) is a relaunch of the “Build Back Better World” scheme that was presented […]
Robinhood Rallies On FTX Buyout Rumours
Robinhood Markets (NASDAQ: HOOD) rallied as much as 19% on the day today following rumours that the company may be on the verge of being bought out by FTX, a crypto exchange. it was reported this afternoon by Bloomberg that the exchange is currently “deliberating internally” how it can go about acquiring the retail-heavy brokerage […]