Radiopharm Theranostics (RAD:AU) has announced RAD 202 receives approval to start Phase 1 therapeutic trial
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Cardiol Therapeutics President and CEO, David Elsley
PRISM MarketView announces the release of an informative interview with Cardiol Therapeutics President and CEO, David Elsley, who discusses the company’s lead oral drug, CardiolRx
, which is entering a late-stage Phase III clinical trial, MAVERIC, for patients with recurrent pericarditis who are at high risk for recurrence.
Cardiol Therapeutics is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. Elsley states, ‘CardiolRx is uniquely positioned to address critical gaps in the current treatment options for recurrent pericarditis.’
During a discussion with PRISM MarketView, Elsley describes the market opportunity for its lead drug candidate, its key differentiators from other treatments, the recent Phase II MAvERIC-Pilot study results, the company’s financial position and key upcoming milestones. ‘With its potential to be safer, more cost-effective, and disease-modifying, CardiolRx could significantly improve the standard of care for the thousands of patients living with recurrent pericarditis,’ Elsley commented regarding the potential positive impacts and market opportunity for its lead drug candidate.
The full interview can be found at: https://prismmarketview.com/cardiol-therapeutics-nasdaq-crdl-accelerates-late-stage-trial-targeting-1b-recurrent-pericarditis-market-aiming-to-transform-heart-disease-care/
About Cardiol Therapeutics
Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead small molecule drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure.
Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration (‘US FDA’) to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart: recurrent pericarditis and acute myocarditis. The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the Phase II MAvERIC-Pilot study (NCT05494788), the Phase II/III MAVERIC-2 trial, and the planned Phase III MAVERIC-3 trial. The ARCHER trial (NCT05180240) is a Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age. The US FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.
Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure – a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding $30 billion annually.
For more information about Cardiol Therapeutics, please visit cardiolrx.com .
About PRISM MarketView:
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on Twitter .
PRISM MarketView does not provide investment advice.
Disclaimer
This communication was produced by PRISM MarketView, an affiliate of PCG Advisory Inc., (together ‘PCG’). PCG is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. PCG may be compensated by respective clients for publicizing information relating to its client’s securities. See www.pcgadvisory.com/disclosures .
Contact: PRISM MarketView
info@prismmarketview.com
646-863-6341
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Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (‘Forum’ or the ‘Company’) announced today that the Company is not aware of any undisclosed material information that might be contributing to the recent decline in the Company’s share price.
As announced in its news release dated December 16th, 2024, the Company is raising $1,250,000 which consists of a combination of shares and flowthrough units. Common shares are being purchased by its strategic investor and insiders for general working capital purposes. The flow-through units are being purchased by its long-term investor and supporter Pavillion Resource Fund for procurement of supplies and services for the 2025 drill program on the Aberdeen Uranium Project in the Thelon Basin, Nunavut (Figure 1).
As announced in previous news releases, assays from its 2024 summer exploration program at its Aberdeen Project in Nunavut, Canada consisting of thirty diamond drill holes covering a total of 6,962 meters are being processed at the SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan which is experiencing an extreme backlog given the increased drilling activity this past year. To date, Forum has received 608 geochemical results from the 11 holes at the Tatiggaq Main and West zones located 5 kilometers from Orano’s Kiggavik deposit. Seven of these 11 holes contained mineralization. (See November 26, 2024 news release for detailed description of drilling highlights).
Assay results from the remaining eight holes along parallel structures in the Tattigaq anomaly are expected in early January. Eleven holes targeting Qavvik, the company’s second discovery, and other high impact targets including Ned, Ayra and Loki are also expected in the new year. After receipt and review of all of the assays from the 2024 drill program, the Company will compile this data in combination with all prior data from the more than 135 drill holes completed by Cameco during its tenure on the property.
Rebecca Hunter, Ph.D., P.Geo., Forum’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano/Denison/UEC’s Kiggavik, End and Andrew Lake uranium deposits host 133 million pounds of uranium grading at 0.54% U3O8* in two proposed open pits and one underground mine. Forum owns 95,519 hectares of prospective ground along the same controlling structures as at Kiggavik.
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*Source: The Kiggavik deposit is held by Orano (66.2%), Denison (16.9%) and Uranium Energy Corp. (16.9%). Kiggavik mineral resources are 127.3 million pounds Indicated mineral resource grading 0.55% U3O8 and 5.4 million pounds Inferred mineral resource grading 0.33% U3O8 as reported on the Denison Mines Ltd. Corporate Presentation dated November 2024, p. 23 on their website and the Orano 2023 Activities Report converted from tonnes U to pounds U3O8 and from %U to %U3O8. Cut-off grades and other assumptions, parameters and methods used to estimate resources are unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.
About Forum Energy Metals
Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.
This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
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December 19th, 2024 TheNewswire – Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the ‘Company’ or ‘Opawica’) a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that select members of it exploration personnel has been mobilized to conduct field work at the Bazooka Gold Project (‘Bazooka’) in the Abitibi gold camp in Quebec, Canada.
Specifically, the company has deployed an advanced team, consisting of a Quebec-registered geologist and an assistant to Bazooka. Their mission is to map access routes and finalize drill locations for at least 20 high-priority gold targets previously identified in the area, in preparation for an upcoming drilling campaign. The crew will further scout locations where secondary or alternate drill sites may be considered.
In recognition of the milestone, Blake Morgan, CEO of the Company stated: ‘This is an important step in advancing the Bazooka property as we await final drill permit approval. This preparation will enable us to mobilize quickly, ensuring we are ready to begin drilling as efficiently and quickly as possible once the permits have been granted. With drill permits already approved on the Arrowhead Project the team feel permits are very close regarding the Bazooka Property.’
Opawica’s Bazooka property is adjacent to Yamana Gold’s Wasamac property, which hosts a proven gold resource of 1,767,000 oz. Other major gold mining companies, including Agnico Eagle Mines, are also located within close proximity * . Previous drilling campaigns from 2003 to 2005 found extensive evidence of gold bearing minerals on the property. Gold concentrations reached up to 316.23 grams per tonne over a 1-meter section in Hole #BA-03-02A.
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The variations in gold content highlight the potential richness of the gold present within the minerals found during these exploration efforts. Opawica intends to drill these promising areas using the latest survey technology .
Mr. Yvan Bussieres, P.Eng., is the qualified person for Opawica Explorations and approves the technical content of this news release. *Mineralization on adjacent Projects are not necessarily indicative of the Mineralization on Bazooka Property
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 236-878-4938
www.opawica.com
info@opawica.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy
of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2024 TheNewswire – All rights reserved.
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AgTech Company highlights recent 100% purchase of Hemp Carbon Standard platform to advance industrial hemp carbon credits global market opportunity
Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’) has released its financial results for the year ended September 30, 2024. Hempalta’s audited consolidated financial statements (the ‘Financial Statements’) and related management’s discussion and analysis (the ‘MD&A’) for the twelve months ended September 30, 2024 are available on www.sedarplus.ca.
Annual Financial Results
- Revenue for the twelve months ended September 30, 2024 was $539,727, a 24% increase compared to the same period in 2023. The increase resulted from greater production and expanded distribution channels.
- Cost of sales for the twelve months ended September 30, 2024 was $885,204, a 44% increase compared to the same period in 2023. Contributing factors included the costs associated with scaling up operations to handle increased sales, such as higher freight costs, online sales platform fees, production supply costs, maintenance, and repair costs. In addition, there was an approximate $136,000 inventory write-down due to stale and damaged inventory that is in the process of being converted to biochar.
- Net general and administrative expenses for the twelve months ended September 30, 2024 increased 69% compared to the same period in 2023. The increase is primarily due to higher filing and listing fees and accounting and legal costs related to the going public process and the acquisition of a controlling interest in HCS.
- At September 30, 2024, the Company had cash of $726,514 and working capital of $712,072.
Full Ownership of Hemp Carbon Credits Platform
In December 2024, Hempalta acquired the remaining 49.9% interest in HCS, solidifying 100% ownership of the hemp-focused carbon credit platform. Building on the initial acquisition of a 50.1% stake in May 2024, the completed purchase significantly strengthens Hempalta’s commitment to sustainable business practices.
With full operational control of HCS’s proprietary methodologies and verification processes, the Company will work to scale its global sustainability payment program, empowering industrial hemp farmers to capitalize on regenerative cultivation methods. This integration positions Hempalta to deliver premium-quality carbon credits efficiently to corporate buyers, while positioning itself as a boutique hemp carbon credit supplier in the evolving voluntary carbon market.
The demand for carbon credits is increasing as companies seek to reduce their carbon footprint and mitigate climate change. Industrial hemp possesses the capacity to absorb substantial amounts of carbon dioxide (‘CO2‘) during its rapid growth cycle. HCS has been a pioneer in the generation of carbon credits derived from the industrial hemp crop life cycle.
HCS’s precision quantification methodology leverages cutting-edge remote sensing technology, ensuring the accurate measurement of CO2 removal within the biomass of the industrial hemp crop and associated topsoil. This approach guarantees transparency and integrity in carbon accounting and helps corporate buyers of HCS carbon credits to achieve their sustainability goals. By participating in the voluntary carbon market, industrial hemp farmers can diversify their revenue streams and make meaningful contributions to climate change mitigation.
Outlook
Darren Bondar, Hempalta’s President and Chief Executive Officer, said, ‘Our activity the past year has been focused on taking the company public for our investors and determining the best revenue-generating opportunities related to industrial hemp. To that end, we’ve achieved 100% ownership of a global hemp carbon credit platform that enables us to seek out new markets worldwide and participate in the growing carbon credit marketplace. Full ownership means we can now streamline operations, strengthen our technology platform, and provide value to our partners and investors through a low capex, highly scalable platform that enables farmers and corporate buyers to reduce their carbon footprints.’
Investor Updates
Investors can stay updated on Hempalta’s investor announcements by subscribing to our mailing list. Click here to subscribe and join our community as we advance towards a greener future.
About Hempalta
Hempalta Corp. (TSXV: HEMP) is a publicly traded agricultural technology company listed on the TSX Venture Exchange, focused on harnessing the immense potential of hemp.
Hempalta participates in the global hemp carbon credit industry through its 100% ownership of Hemp Carbon Standard Inc. The Company also utilizes advanced agricultural technology to process industrial hemp at scale with resulting products made from hemp grown sustainably in Alberta and processed through a state-of-the-art processing plant at its production facility in Calgary, Alberta.
The Company is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged goods, and retail sales experience. Hempalta has been named a Top 10 Startup by Platform Calgary’s Launch Party and recognized as one of the 50 most investable clean technology companies by Foresight Canada. Learn more at www.hempalta.com.
HEMP TO BETTER THE PLANET
For more information, please contact:
Darren Bondar
Chief Executive Officer
Hempalta Corp.
1560 Hastings Crescent SE, Calgary, AB T2G 4E1
Web: https://www.hempalta.com/
Email: info@hempalta.com
Sales or partner opportunities:
Cecil Horwitz
Business Development
cecil.horwitz@hempalta.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
This news release contains statements and information that, to the extent that they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as ‘will’, ‘expected’, ‘plans’, ‘enable’ and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the benefits of the acquisition of the remaining 49.9% interest in HCS; the Company’s plans with respect to the HCS platform, including the scaling of such program; the demand for carbon credits increasing; industrial hemp farmers being able to diversify their revenue streams by participating in the Voluntary Carbon Market; and the Company adding a global hemp carbon credit platform that enables it to seek out new markets worldwide and participate in the growing carbon credit market place. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to successfully implement its strategic plans and initiatives and the expected benefits therefrom; the anticipated benefits of the HCS acquisition; the ability of farms and sites currently signed up by HCS to grow hemp; and the ability of HCS to sell carbon removal credits through the Voluntary Credit Market. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results may vary from those currently anticipated due to a number of factors and risks including, but not limited to: the risk that the benefits from the HCS acquisition will not be as anticipated; risks associated with general economic conditions; conditions in the carbon credit markets; adverse industry events; the risk that farms and sites currently signed up by HCS will not grow or be able to grow industrial hemp as anticipated or at all; the risk that HCS may not be able to sell carbon removal credits as anticipated or at all; adverse weather conditions affecting the growth of hemp; future legislative, tax and regulatory developments; and the ability of management to execute its business strategy, objectives and plans. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES
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HIGHLIGHTS
- BBM trend now extends over 15km, from Awalé’s 100%-owned Fremen target in the south to the Boba and Fett targets in the north.
- Boba and Fett have been defined along strike from BBM, highlighting the fertile and open BBM trend.
- 150 line-km of Induced Polarization (‘IP’) geophysics is planned to cover the entire BBM trend and is scheduled for completion in January.
- An additional up to 7,000 metre drill program will begin in February following the completion of these IP surveys.
Awalé Resources Limited (TSXV: ARIC) (‘Awalé’ or the ‘Company’) is pleased to announce a significant expansion of the BBM gold trend to over 15 kilometres (‘km’). This underscores the potential of the BBM trend, which now extends from the 100%-owned Fremen target in the south to the newly defined Boba and Fett targets in the north. These newly identified targets highlight the potential of this highly prospective region, and with active drilling underway and a large-scale IP geophysical survey planned, the Company is on the path of defining this new district. The upcoming survey aims to refine targets for a 7,000-metre reverse circulation drill campaign, setting the stage for optimized exploration on the BBM trend.
‘The new Boba and Fett targets complement the recently announced Fremen footprint on our 100%-owned Awalé permit – The fertile BBM structure continues to reveal multiple gold-in-soil anomalies, with the trend now extending over 15 kilometres. The upcoming IP survey will help refine drill targets and guide the design of a focused drill program for the new year, with up to 7,000 metres of reverse circulation drilling along this highly prospective structure. We are thrilled to begin drilling on our 100%-owned property, a much-anticipated milestone for Awalé, as we simultaneously continue to progress the BBM and Charger targets,’ commented Andrew Chubb, CEO of Awalé Resources.
View Video of CEO Andrew Chubb’s discussion of these new targets
Figure 1: The 15km-Long BBM Shear – A 15km trend with Fremen to the south, BBM, and the new Boba and Fett targets to the north. See Figure 2 for Inset A.
To view an enhanced version of this graphic, please visit:
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Figure 2: The Boba and Fett Targets – Gold in soil and termite mound sampling combined.
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Detailed soil and termitaria sampling over the Boba and Fett targets defined two > 15 parts per billion (‘ppb’) gold-in-soil anomalies, with high-order core anomalies at > 41ppb gold and peak values of 655 parts per million (‘ppm’) and 1350ppm respectively. Lines are now being cleared for commencement of an IP geophysics survey, which when complete will cover the entirety of the trend from the 100%-owned Fremen target (see October 22, 2024 news release) through to the Boba and Fett targets.
A change in the regolith regime moving northward from BBM has been observed, where outcrop diminishes, and laterite starts to form a thin veneer over the underlying geology. This veneer is variable and is reflected in the tenor of the anomalies. This also results in a smaller number of termite mounds to sample and a significant portion of these anomalies are from soil sampling (Table 1).
Table 1: Summary Statistics for Gold in Geochemistry by Sample Type
| Count | Min | Max | Mean | Med. | SD | 25th | 50th | 75th | 90th | 95th | 98th | |
| Fett | ||||||||||||
| Soil | 867 | -1 | 655 | 16.8 | 5 | 48.2 | 1.0 | 5.0 | 15.0 | 32.4 | 54.7 | 123.4 |
| Termite | 168 | -1 | 196 | 8.2 | 4 | 19.4 | 2.0 | 4.0 | 7.0 | 13.0 | 22.3 | 54.6 |
| Boba | ||||||||||||
| Soil | 845 | -1 | 1350 | 18.0 | 10 | 56.4 | 6.0 | 10.0 | 16.0 | 29.0 | 45.8 | 97.7 |
| Termite | 174 | 0 | 412 | 7.9 | 3 | 32.4 | 2.0 | 3.0 | 7.0 | 11.0 | 19.4 | 31.0 |
| Fremen | ||||||||||||
| Soil | 623 | 0.5 | 465 | 12.1 | 2 | 28.9 | 0.5 | 2.0 | 14.0 | 32.0 | 53.0 | 92.1 |
| Termite | 320 | 0 | 1180 | 10.8 | 1 | 67.6 | 0.5 | 1.0 | 4.0 | 25.0 | 48.1 | 66.0 |
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d’Ivoire, where the Company is focused on the Odienné Copper-Gold Project (‘Odienné‘ or the ‘Project‘), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture (‘OJV’). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited (‘Newmont‘) (see May 31, 2022 news release).
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are prepared and stored at the Company’s field camps and put into sealed bags until collected by Intertek from the Company’s secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d’Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Australia where the sample is analyzed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company’s Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geologists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
AWALÉ Resources Limited
On behalf of the Board of Directors
‘Andrew Chubb’
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
The Company’s public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively ‘forward-looking statements’). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company’s presence in Côte d’Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234447
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HIGHLIGHTS
- BBM trend now extends over 15km, from Awalé’s 100%-owned Fremen target in the south to the Boba and Fett targets in the north.
- Boba and Fett have been defined along strike from BBM, highlighting the fertile and open BBM trend.
- 150 line-km of Induced Polarization (‘IP’) geophysics is planned to cover the entire BBM trend and is scheduled for completion in January.
- An additional up to 7,000 metre drill program will begin in February following the completion of these IP surveys.
Awalé Resources Limited (TSXV: ARIC) (‘Awalé’ or the ‘Company’) is pleased to announce a significant expansion of the BBM gold trend to over 15 kilometres (‘km’). This underscores the potential of the BBM trend, which now extends from the 100%-owned Fremen target in the south to the newly defined Boba and Fett targets in the north. These newly identified targets highlight the potential of this highly prospective region, and with active drilling underway and a large-scale IP geophysical survey planned, the Company is on the path of defining this new district. The upcoming survey aims to refine targets for a 7,000-metre reverse circulation drill campaign, setting the stage for optimized exploration on the BBM trend.
‘The new Boba and Fett targets complement the recently announced Fremen footprint on our 100%-owned Awalé permit – The fertile BBM structure continues to reveal multiple gold-in-soil anomalies, with the trend now extending over 15 kilometres. The upcoming IP survey will help refine drill targets and guide the design of a focused drill program for the new year, with up to 7,000 metres of reverse circulation drilling along this highly prospective structure. We are thrilled to begin drilling on our 100%-owned property, a much-anticipated milestone for Awalé, as we simultaneously continue to progress the BBM and Charger targets,’ commented Andrew Chubb, CEO of Awalé Resources.
View Video of CEO Andrew Chubb’s discussion of these new targets
Figure 1: The 15km-Long BBM Shear – A 15km trend with Fremen to the south, BBM, and the new Boba and Fett targets to the north. See Figure 2 for Inset A.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/234447_f34bfc702420da9e_002full.jpg
Figure 2: The Boba and Fett Targets – Gold in soil and termite mound sampling combined.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/234447_f34bfc702420da9e_003full.jpg
Detailed soil and termitaria sampling over the Boba and Fett targets defined two > 15 parts per billion (‘ppb’) gold-in-soil anomalies, with high-order core anomalies at > 41ppb gold and peak values of 655 parts per million (‘ppm’) and 1350ppm respectively. Lines are now being cleared for commencement of an IP geophysics survey, which when complete will cover the entirety of the trend from the 100%-owned Fremen target (see October 22, 2024 news release) through to the Boba and Fett targets.
A change in the regolith regime moving northward from BBM has been observed, where outcrop diminishes, and laterite starts to form a thin veneer over the underlying geology. This veneer is variable and is reflected in the tenor of the anomalies. This also results in a smaller number of termite mounds to sample and a significant portion of these anomalies are from soil sampling (Table 1).
Table 1: Summary Statistics for Gold in Geochemistry by Sample Type
| Count | Min | Max | Mean | Med. | SD | 25th | 50th | 75th | 90th | 95th | 98th | |
| Fett | ||||||||||||
| Soil | 867 | -1 | 655 | 16.8 | 5 | 48.2 | 1.0 | 5.0 | 15.0 | 32.4 | 54.7 | 123.4 |
| Termite | 168 | -1 | 196 | 8.2 | 4 | 19.4 | 2.0 | 4.0 | 7.0 | 13.0 | 22.3 | 54.6 |
| Boba | ||||||||||||
| Soil | 845 | -1 | 1350 | 18.0 | 10 | 56.4 | 6.0 | 10.0 | 16.0 | 29.0 | 45.8 | 97.7 |
| Termite | 174 | 0 | 412 | 7.9 | 3 | 32.4 | 2.0 | 3.0 | 7.0 | 11.0 | 19.4 | 31.0 |
| Fremen | ||||||||||||
| Soil | 623 | 0.5 | 465 | 12.1 | 2 | 28.9 | 0.5 | 2.0 | 14.0 | 32.0 | 53.0 | 92.1 |
| Termite | 320 | 0 | 1180 | 10.8 | 1 | 67.6 | 0.5 | 1.0 | 4.0 | 25.0 | 48.1 | 66.0 |
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d’Ivoire, where the Company is focused on the Odienné Copper-Gold Project (‘Odienné‘ or the ‘Project‘), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture (‘OJV’). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited (‘Newmont‘) (see May 31, 2022 news release).
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are prepared and stored at the Company’s field camps and put into sealed bags until collected by Intertek from the Company’s secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d’Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Australia where the sample is analyzed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company’s Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geologists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
AWALÉ Resources Limited
On behalf of the Board of Directors
‘Andrew Chubb’
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
The Company’s public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively ‘forward-looking statements’). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company’s presence in Côte d’Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234447
News Provided by Newsfile via QuoteMedia
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Investor and author Gianni Kovacevic shared his thoughts on copper market dynamics, saying that while the long-term trend is up, speculators can create significant shorter-term prices moves.
He also mentioned three copper companies he’s interested in right now: CopperNico Metals (TSX:COPR,OTCQB:CPPMF), Entree Resources (TSX:ETG,OTCQB:ERLFF) and Horizon Copper (TSXV:HCU,OTCQX:HNCUF).
In addition to copper, Kovacevic spoke about the growing opportunity he sees in lithium, highlighting how major miners like Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) are increasing their exposure to this important battery metal.
‘We are going to have a supply shortage. Not in the distant future — in the next 18 to 36 months it’ll be a front-page story, and it will be dovetailed with … oil and gas. And with that comes the oil and gas investor,’ he said.
Explaining his view, Kovacevic said oil and gas companies are becoming interested in direct lithium extraction.
Watch the interview above for more from Kovacevic on copper and lithium, as well as Donald Trump’s second term.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Investor Insight
Jindalee Lithium’s flagship McDermitt Lithium Project (McDermitt) offers investors exposure to a generational, high-margin critical minerals asset. The recently completed Pre-Feasibility Study (PFS) demonstrates robust economics, positioning McDermitt as a key enabler of North America’s clean energy transition and a cornerstone of the US critical minerals strategy to de-risk supply chains through increased domestic production.
Overview
Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is a pure-play lithium company with a strategic focus on the United States. Its 100 percent-owned McDermitt Lithium Project is the largest lithium deposit in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).
Backed by a recently released (November 2024) Pre-Feasibility Study (PFS) demonstrating very compelling economics, McDermitt is poised to play a crucial role in meeting North America’s growing lithium demand for battery materials.
As the US continues to transition to clean energy, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of a fast-growing electric vehicle and renewable energy industries with specific emphasis on developing and de-risking domestic supply chains.
McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government’s support of the McDermitt Project, the US Department of Energy’s Ames National Laboratory signed a Cooperative Research and Development Agreement (CRADA) with Jindalee’s subsidiary HiTech Minerals to develop cutting-edge extraction methods for McDermitt. Under this agreement the US Department of Energy (DOE) will fund work aimed at reducing costs and improving sustainability outcomes for the Project. The Ames National Laboratory spearheads the DOE’s Critical Materials Innovation Hub. Jindalee is also advancing an application for a grant from the US Department of Defense, which has the potential to co-fund a feasibility study and associated work programs at McDermitt.
Key milestones in the US lithium resource space also provide significant insights into the future prospects for McDermitt. Lithium Americas’ (TSX:LAC), has received a US$945 million commitment from General Motors, to fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada, located 30km away from and in the same geological formation as Jindalee’s McDermitt Lithium Project. LAC has also closed a $2.3 billion US Department of Energy loan in late 2024 to fund approximately 75 percent of the construction capital cost (US$2.93B).
Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) is expected to receive a total investment of US$700 million through a new joint venture with Sibanye Stillwater, in addition to a conditional loan commitment of US$650 million from the US Department of Energy, both acting to strengthen the development of its flagship Rhyolite Ridge lithium-boron project.
In late 2024, ASX-listed company Patriot Battery Metals Inc (ASX:PMT) announced a C$69 million investment, strategic partnership and offtake agreement with global automotive group Volkswagen which aims underpin the development of Patriot’s upstream lithium project in Quebec, Canada.
These are just a few examples of current market dynamics that point to rapidly accelerating lithium resource development in the US and Canada demonstrating the investment appetite of strategic partners, as well as support from the US government via low-cost concessional debt funding.
An experienced management team, with the right blend of experience and expertise in project development, corporate administration and international finance provides Jindalee with the leadership to fully capitalise on the potential of its assets.
Company Highlights
- Jindalee Lithium is focused on its wholly owned flagship McDermitt Lithium Project, currently the largest lithium deposit in the US
- A PFS for McDermitt – delivered in November 2024 – supports very strong project economics, including a US$3.23 post-tax NPV and a 5 year capital payback period over a 63 year project life
- Jindalee’s McDermitt Lithium Project seeks to assist in the development of US critical minerals supply chains to enable America to meet its energy security and electrification goals
- Jindalee’s wholly owned US subsidiary HiTech Minerals has executed a strategic Cooperative Research and Development Agreement (CRADA) with the US Department of Energy (DOE) as part of the DOE’s Critical Materials Innovation (CMI) Hub
- McDermitt is located in the same geological formation and is of similar size and scale to Lithium Americas’ Thacker Pass Project, which is backed by major investments from General Motors and the US Department of Energy and is currently under construction
- McDermitt is eligible for a wide range of government incentives including tax credits, grants and concessional loans. Jindalee is currently progressing a grant application with the Department of Defense to potentially co-fund a feasibility study at McDermitt
- In collaboration with lead engineer Fluor, Jindalee has produced battery grade lithium carbonate from McDermitt’s lithium bearing ore in metallurgical testwork.
- Experienced management team is focused on maximising the potential of Jindalee’s assets.
Key Project
McDermitt Lithium Project Economics
The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project’s potential:
Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tonnes per annum (tpa) in the initial 10 years, and averaging 44,300 tpa over the first 40 years.
Financial Metrics: The Project boasts a post-tax net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project’s strong economic viability.
Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.
Robust margins: Exceptional EBITDA margins of 66 percent over the first 10 years of operations, with C1 costs in the bottom half of industry and 17 percent pre-tax net operating cashflow margins (including sustaining capital) at current bottom of the cycle spot prices (October 2024 spot of US$10,888/t of lithium carbonate)
Significant future upside. Several opportunities identified in the PFS have potential to significantly enhance returns, which includes process optimisation to reduce opex/capex as well as potential for production of by-products. Additionally, there remains significant optionality to further exploit the ore body, with only ~15 percent of the current resource included in the PFS schedule (on contained metal basis).
The PFS estimates a total project cost of US$3.02 billion, which includes a conservative 21 percent contingency provision estimated on P70 basis (70 percent probability total capital cost will be lower), prepared by US headquartered global engineering and construction firm, Fluor Corporation. This substantial investment is expected to provide the platform for a long life, stable supply of domestically sourced battery grade lithium chemicals, which is expected to be highly attractive to partners in the battery value chain.
Project Overview
The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.
The Project is characterised by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages, including:
- Consistent grade distribution throughout the ore body
- Potential for large-scale, low-cost mining operations
- Amenability to environmentally friendly extraction methods
The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.
The 2023 mineral resources estimate (MRE) for McDermitt contains a combined indicated and inferred mineral resource inventory of 3 billion tonnes at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade. As part of the PFS, a maiden ore reserve estimate was declared of 251 @1,761 ppm Lithium fir 2.34 Mt LCE (representing only ~11 percent of MRE)
Project Highlights:
- Rare Sediment-hosted Lithium Deposits: The McDermitt asset supports low-cost mining operations due to its flat-lying sediments. This type of lithium deposit is amenable to low-cost mining operations, while still producing excellent metallurgical results.
- Low cost mining. Ore is soft, free-digging material, located at surface with a strip ratio of only 1.3 over project life. As a result mining costs are relatively low.
- Fluor recommended processing route: In March 2023, US engineering group Fluor reviewed all testwork undertaken at McDermitt and recommended beneficiation and acid leaching as the optimal processing route (similar to that used by more advanced peers in the region).
- High metallurgical recovery. PFS test work demonstrated exceptional recoveries through beneficiation and acid leaching steps, with an average metallurgical recovery of 84.4 percent over first 40 years, comparing favourably to industry peers.
Management Team
Ian Rodger – Chief Executive Officer
Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Ian was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.
Ian holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.
Lindsay Dudfield – Executive Director
Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).
Wayne Zekulich – Non-executive Chair
Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.
Darren Wates – Non-executive Director
Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Darren is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT) since 2016, having previously been employed as legal counsel of Neometals. Darren holds Bachelor’s degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.
Paul Brown – Non-executive Director
Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Paul has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Paul is currently CEO of Core Lithium Limited (ASX:CXO). He holds a Master in Mine Engineering.
Brett Marsh – VP Geology and Development (US)
Brett Marsh is an AIPG certified professional geologist and a registered member of the Society for Mining, Metallurgy and Exploration (SME) with over 25 years of diverse mining and geological experience. He has worked for and held senior leadership roles for Kastan Mining, Luna Gold, Kiska Metals, Newmont, Freeport-McMoRan, Phelps Dodge, ASARCO and consulted to deliver numerous NI 43-101 technical reports. Brett has demonstrated the ability to deliver results in culturally diverse and geographically difficult environments, such as Brazil, Peru, Chile, Democratic Republic of Congo, Ghana, Tanzania, Indonesia, Australia, and has also worked in remote areas of Alaska. He has managed all phases of the mining lifecycle including greenfield and brownfield exploration, project development (including preliminary economic assessments, pre-feasibility and feasibility), project construction, mine operations, and environmental. He successfully led multi-cultural teams to develop business processes and implementation plans for many mine development and operational projects.
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The United Nations has designated 2025 as the year of quantum science and technology, highlighting the profound impact that technological advancements are poised to have on the world.
The increasing prevalence of artificial intelligence (AI) across a wide array of industries has spurred significant investment in the sector over the last two years as the world’s largest tech firms jump in. As AI continues to evolve, many investors are wondering if 2025 will be a pivotal year when these investments begin to show significant returns.
How will AI affect the stock market in 2025?
2024 was marked by concerns over the dominance and high valuations of the Magnificent 7, and heading into 2025, investors are keenly watching how these companies will influence the broader stock market.
Citigroup (NYSE:C) analysts have a generally positive outlook for 2025, noting that the Magnificent 7 aren’t trading at unprecedented valuations; rather, the other S&P 500 (INDEXSP:.INX) stocks are at a higher risk.
Essentially, the US stock market is priced for perfection, leaving it susceptible to a correction triggered by rising interest rates, disappointing earnings or a broader economic slowdown.
For its part, BNY asserts that the Magnificent 7 may actually be undervalued relative to their future growth potential. While acknowledging the record-high profit margins in the tech sector, the firm contends that valuations relative to the rest of the market are cheaper than during similar periods of technological advancement in history.
Further, the expectation of continued profit margin expansion and earnings growth fueled by ongoing AI innovation supports the notion of further upside potential for tech stocks.
AI juggernaut NVIDIA’s (NASDAQ:NVDA) sustained profitability underscores its dominant market position and ability to efficiently capitalize on the surging demand for its products.
Goldman Sachs (NYSE:GS) analysts believe the Magnificent 7 will continue to outperform the rest of the S&P 500 in 2025, but only by 7 percentage points, the lowest amount in seven years. The firm sees various elements, including macro factors like US growth and trade policy, favoring the ‘S&P 493.’
David Rosenberg, founder of independent research firm Rosenberg Research and Associates, expressed to the Globe and Mail on December 5 that he has shifted his perspective on the US stock market.
Rather than focusing on reasons for its overvaluation and bearish indicators, he aims to understand the underlying factors driving the market’s behavior over the past two years.
“The market is telling us that we are in a ‘Model Shift’ when it comes to future growth and profits,” he explained. “Traditional valuation methods, like price-to-earnings ratios, are backward-looking and may not be suitable in this environment. Investors are focused on long-term potential, particularly in areas like AI, and are willing to pay a premium for it. The current surge in AI might resemble the dot-com bubble, but it could take years to confirm.’
He added that interest rate cuts from the US Federal Reserve would support higher valuations.
BNY also points to historical data showing that an environment of easing monetary policy tends to coincide with economic growth, with an average of 16.5 percent growth in the year following initial rate cuts since 1984. It suggests that S&P 500 earnings growth will be between 10 to 15 percent in 2025, with the index reaching around 6,600 in 2025. Although this represents slower growth compared to 2024, it still indicates continued expansion.
While Rosenberg is mindful of near-term risks, such as weakness in the US labor market and the likelihood of profit-taking and early rebalancing, he emphasized the importance of keeping an open mind in 2025.
In his view, it’s key for investors to learn from the mistakes of the past year, such as overreacting to short-term volatility and underestimating the potential of transformative technologies.
Profitability in focus as AI improvement rate slows
While Big Tech pours billions into AI development, the question of profitability in 2025 hangs in the balance.
Google (NASDAQ:GOOGL) is prioritizing long-term AI dominance over short-term gains. The company’s aggressive AI spending is expected to continue in 2025, potentially impacting immediate revenue growth.
Similarly, Meta (NASDAQ:META) is heavily investing in AI, with a projected US$1 billion increase in capital expenditures for 2024. CFO Susan Li acknowledged in the company’s earnings call for Q3 of this year that both depreciation and operating expenses will grow next year as Meta expands its AI infrastructure and product line.
Overall, the AI landscape in 2025 hinges significantly on whether Big Tech can deliver on its ambitious promises, and recent commentary suggests that the rate of AI improvement may be slowing down. Several AI investors, founders and CEOs told TechCrunch in November that the focus may shift to efficiency and specialized AI solutions.
Test-time compute, which gives AI models more time to “think” before answering a question, emerged as part of the new era of scaling laws toward the end of 2024. Scaling laws are described by TechCrunch as the methods and expectations that labs have used to increase the capabilities of their models.
This development has fueled a growing belief — held by experts like Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman — that artificial general intelligence (AGI) may be closer than previously anticipated.
Beyond the evolution of scaling laws, Konstantine Buhler of Sequoia Capital told Bloomberg News that 2025 is poised to be a breakout year for AI agents. These sophisticated programs, capable of independently performing tasks and making decisions, have the potential to revolutionize how we interact with technology and automate complex processes.
While the transformative potential of AI spans countless industries, the scale and timing of substantial returns remain uncertain as we navigate this uncharted technological territory.
AI hardware and infrastructure developments to watch
Regardless of the exact timeline or nature of AGI’s arrival, one thing is certain: the race to develop and deploy advanced AI is driving an insatiable demand for powerful hardware, and key companies are stepping up.
“While the mega-cap cloud companies will capture a lot of future revenue opportunities for AI, they are still in spending mode right now. They’re spending heavily on semiconductors, data center infrastructure, and energy,” Nicholas Mersch, associate portfolio manager at Purpose Investments, wrote in a July market commentary note.
The buildout is ongoing, and Big Tech’s latest round of quarterly reports indicates no immediate slowdown in infrastructure spending. This dynamic positions key hardware players like Taiwan Semiconductor Manufacturing Company (NYSE:TSM), NVIDIA and Broadcom (NASDAQ:AVGO) for potentially stronger near-term returns.
For its part, Goldman Sachs predicts that investor focus will now shift from AI infrastructure to a wider “Phase 3” of AI application deployment and monetization. Companies of interest include software and services firms.
Lux Research highlights two primary models: the monopoly model and the ‘walled garden’ approach.
Companies like NVIDIA, Meta and Microsoft are pursuing a monopoly strategy, aiming to capture a large market share and maximize value extraction from a broad user base. Challenges include competition and pressure to keep prices low.
Companies can also adopt a ‘walled garden’ approach, similar to Apple’s (NASDAQ:AAPL) ecosystem, which prioritizes a smaller, more engaged user base. By providing premium features and exclusive content, companies can increase value generated per user. This model may face challenges in achieving the same level of scale as the monopoly model.
Investor takeaway
The outlook for the tech sector and the broader stock market in 2025 is cautiously optimistic.
AI is expected to continue playing a pivotal role, with the race for AI dominance fueling investments in infrastructure and innovation, and positioning key hardware and software players for potential gains.
However, the profitability of AI investments remains to be seen. Companies’ ability to adapt and capitalize on emerging opportunities will be crucial for sustained success in the dynamic landscape of 2025.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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