Home Sales Falls Further In May: 8.6% From April, 21.7% Year-On-Year
Latest statistics from the Canadian Real Estate Association (CREA) show home sales continuing the downward trend, falling 8.6% month-on-month in May. This brings the market activity closer to its pre-pandemic levels. Non-seasonally adjusted home sales also fell 21.7% from the same period last year, selling 53,720 houses compared to 68,598 units in May 2021. “May […]
Novo Resources Plummets 26% As It Expects Up To 18-Month Production Hiatus At Beatons Creek
Novo Resources Corp. (TSX: NVO) announced on Tuesday that it is expecting a production pause of around 12-18 months at Beatons Creek. This is due to a series of challenges faced in defining the oxide mineral resource at the site and the marginal cashflow delivered by mined grade so far. Based on the firm’s three-phase […]
Kinross Recovered Slightly More Than Half Of Its Losses From Russian Asset Sale
Kinross Gold Corporation (TSX: K) finally closed its Russian chapter on Wednesday when it completed the previously announced sale of 100% of its assets in the country, supposedly including the Kupol mine and the Udinsk development project. The total consideration for the transaction is US$340 million. In its Q1 2022 financials, the firm recorded a […]
75 BASIS-POINTS: Fed Embarks on Biggest Hike Since 1994 to Tame Inflation
In an attempt to preserve its rapidly-plummeting credibility, the Fed hiked rates by a shocking 75 basis points, as inflation continues to spiral out of control to no avail. Following the completion of the FOMC’s two-day meeting, the Fed decided to raise its overnight rate to 1.75%, signalling it is “strongly committed” to tackling inflation. […]
Bill Gates: Cryptocurrencies are ‘Based on Greater Fool Theory’
Microsoft cofounder and billionaire Bill Gates continues to throw shade at cryptocurrencies and NFTs, scoffing that they are merely worthless assets that only have value as long as traders are inclined to bid them higher. With bitcoin and other major digital assets undergoing a sharp slide amid a broader crypto market downturn, Gates took a […]
SEC Charge Penn National Gaming Employee Who Made US$560K From Insider Trading
A software engineer on Monday was charged with insider trading on a public company’s stock by the US Securities and Exchange Commission. He made US$560,762 in unlawful profits for selling holdings based on non-public information. David Roda, was employed at Penn National’s Penn Interactive subsidiary as director of back-end architecture. He was one of the […]
MicroStrategy CEO On Its Own CFO’s US$21,000-Bitcoin Price Benchmark For Margin Call: “That’s All FUD”
MicroStrategy’s (Nasdaq: MSTR) bitcoin strategy is being threatened by the latest price crash, ushering in talks of a possible margin call. But CEO Michael Saylor is shrugging these off, even if the benchmark price came from the firm’s own CFO. In its latest financials for Q1 2022, the business intelligence firm held 129,218 bitcoin at […]
Riverside Resources Reports First Assay Results From Oakes Gold Project
The first assay results are in for Riverside Resources’ (TSXV: RRI) recent exploration program conducted at the Oakes project. The program consisted of a total of twelve holes that were drilled for 1,700 metres in aggregate. Results from a total of five holes were released this morning. Highlights from the results include: DDH2022-02: 2.1 g/t […]
Hexo Corp Cancels 2022, 2023 Financial Guidance Following Poor Q3 Earnings
It appears that the impairment of over $616 million in assets in the second quarter was not enough for Hexo Corp (TSX: HEXO). The firm, whom reported earnings last night for the third quarter of 2022, has impaired further assets as its operation continues to decline. Hexo’s revenues for the third quarter saw a sequential […]
Cognetivity Sees Pilot Program Transition Into Commercial Agreement In UAE
A successful pilot program has lead to a commercial arrangement for Cognetivity Neurosciences (CSE: CGN). The firm this morning revealed that its previously announced pilot program with PRIME Health has lead to the agreement. Based in the United Arab Emirates, PRIME Health is said to be a leading healthcare services provider in the region. The […]