Month: July 2021

Stablecoin Cryptocurrency Company in SPAC Merger

Posted on by Admin 


	Image Credit: Bruce Detorres (Flickr)


SPAC Places “Hard Circle” Around Stablecoin Company

SPACs are not long-term investments; their very nature ensures that within 24 months, you are likely to be a shareholder in an operating company or be cashed out. Cryptocurrencies have demonstrated themselves to be volatile. Committing assets to the currency suggests faith that the investor believes that their Crypto will be among the few widely accepted over time.  The leading stablecoin crypto provider, USD Coin (USDC), has agreed to go public through a merger with the SPAC Concord Acquisition Corp. in a deal valued at $4.5 billion.  This could provide investors in the crypto space with a strong player to consider and also demonstrates that successful SPAC acquisitions continue through 2021.

The
deal values Circle at $4.5 billion. The agreement follows Circle having raised $440 million from investors including Fidelity, Valor Capital Group, and the London-based hedge fund Marshall Wace for operating expenses back in May. The company will become a publicly traded firm on the NYSE under the ticker symbol CRCL.

Stablecoins are a cryptocurrency that pegs its exchange value against an accepted fiat currency, gold, or other traditional assets. A benefit to a stablecoin, unlike Bitcoin, which in early May was trading above $58,000 and now recently valued at around $33,000, is a stablecoin is only as volatile as the underlying method of exchange it is referenced against. This means 1 USDC would still hold the same exchange value a week or month in the future, unlike other cryptocurrencies that have values that are much more speculative and erratic.

“Circle was founded with a mission to transform the global economic system through the power of digital currencies and the open internet,” said Jeremy Allaire, Circle’s co-founder, and CEO. He added that going public would give Circle “the capital and relationships needed to build a global-scale internet financial services company that can help businesses everywhere to connect into a more open, inclusive and effective global economic system.”  There is more than $25 billion of Circle’s stablecoin USDC in cyber-circulation; it has helped conduct over $785 billion in on-chain transactions, according to the company.

 

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Deal Terms

The merged entity will be supported by $415 million in capital commitments at $10 per share, with investments from Marshall Wace, Fidelity Management & Research Company LLC, and Adage Capital Management LP. Additionally, there will be $276 million held by Concord, raised through an Initial Public Offering in December 2020. In total, the deal will add about $691 million of new proceeds to the new corporate structure. Proceeds from the deal will be invested in growth and product development.

Existing Circle shareholders will retain roughly 86% of the shares in the public company.

Take-Away

Exposure to cryptocurrency growth can come in various ways beyond holding the currency. Publicly traded companies that either provide digital currency direct or ancillary services such as blockchain are another way investors gain exposure.

The pace of de-SPACs, although off from the record levels of six months ago, is still brisk. The Circle transaction may cause more attention to be placed on stablecoin cryptos, which are less speculative, and increase familiarity with SPAC IPOs which have more options to reduce investor risk than most speculative plays in the stock markets.

 

Suggested Reading:




The Lifecycle of a SPAC


SPAC Investors Benefit from the Ability to Exercise Different Options






Merger of a SPAC, the De-SPAC Phase Explained


Investing in the Businesses in and Around Crypto

Sources:

https://www.circle.com/hubfs/investors/Press-Release-Circle-Concord-July2021.pdf

https://www.circle.com/investors

https://www.concordacquisitioncorp.com/home/default.aspx#about-us

Playboy and Gaming Technologies, Inc. Announce Partnership to Launch New Rummy Mobile Game in India

Posted on by Admin

 


Playboy and Gaming Technologies, Inc. Announce Partnership to Launch New Rummy Mobile Game in India

 

LOS ANGELES, July 08, 2021 (GLOBE NEWSWIRE) — PLBY Group, Inc. (NASDAQ: PLBY), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, and Gaming Technologies, Inc. (OTC: GMGT) (“Gametech”) a software platform provider and owner of the Mexico-based interactive regulated online casino and sports betting and gaming brand Vale, today announced a partnership to bring a new Playboy-branded, skill-based, real-money Rummy mobile game to the Indian market. The game is expected to launch in 2021.

“India is an important and growing market for Playboy,” said Reena Patel, President, International at PLBY Group, Inc. “Our partnership with Gametech will cater to the young consumer’s desire for the Playboy brand in India across gaming and other categories including retail, beauty, venues, and hospitality.”

Commenting on the announcement, Jason Drummond, founder and Chief Executive Officer of Gametech, stated, “We are thrilled to partner with Playboy to launch real money, mobile, skill-based games in India. The potential market for online games of skill in India is still developing, and we believe that through this partnership with such an iconic brand, Gametech and Playboy can create a substantial presence in the Indian market and provide consumers fun and authentic games unlike no other partners in the territory.”

The online gaming industry in India is expected to grow at a compound annual growth rate of 40% to $2.8 billion by 2022, up from $1.1 billion in 2019, according to reports on a recent Deloitte India study.

Playboy today reaches a global audience through a diverse portfolio of consumer products, content, gaming, hospitality offerings, and more. Playboy’s international portfolio has been flourishing for over 25 years in Asian markets such as China and Japan. Earlier this year, Playboy expanded its global consumer products business into India in partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle company in India.

For more information on the rollout of Gametech’s new Rummy mobile skill-based game in India with Playboy, please visit Gametech.com.

About PLBY Group, Inc.
PLBY Group, Inc. (“PLBY Group”) connects consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable, iconic brands in the world, driving billions of dollars in consumer spending annually across approximately 180 countries. Learn more at http://www.plbygroup.com.

About Gaming Technologies, Inc.
Gaming Technologies (“Gametech”) develops games, leverages leading third-party games, and operates a B2B gaming platform to enable land-based casinos, consumer brands and media company partners in regulated markets to rapidly leverage a branded online gambling presence while putting players first. In partnership with Big Bola Casinos, Gametech owns www.vale.mx, a regulated online casino and sports betting site in Mexico. For more information, visit www.gametech.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. PLBY Group’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, PLBY Group’s expectations with respect to future performance, growth plans and anticipated financial impacts of PLBY Group’s recent business combination, its acquisitions, and commercial collaborations.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Factors that may cause such differences include, but are not limited to: (1) the impact of COVID-19 pandemic on PLBY Group’s business, acquired business and commercial collaborations; (2) the inability to maintain the listing of PLBY Group’s shares of common stock on Nasdaq; (3) the risk that the business combination, recent acquisitions or any proposed transactions disrupt PLBY Group’s current plans and operations, including the risk that PLBY Group does not complete any such proposed transactions or achieve the expected benefits from them; (4) the ability to recognize the anticipated benefits of the business combination, acquisitions or commercial collaborations which may be affected by, among other things, competition, the ability of PLBY Group to grow and manage growth profitably, and retain its key employees; (5) costs related to the business combination, acquisitions, commercial collaborations and proposed transactions; (6) changes in applicable laws or regulations; (7) the possibility that PLBY Group may be adversely affected by other economic, business, and/or competitive factors; (8) risks relating to the uncertainty of the projected financial information of PLBY Group; (9) risks related to the organic and inorganic growth of PLBY Group’s business and the timing of expected business milestones; and (10) other risks and uncertainties indicated from time to time in PLBY Group’s annual report on Form 10-K, including those under “Risk Factors” therein, and in PLBY Group’s other filings with the Securities and Exchange Commission. PLBY Group cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date which they were made. PLBY Group does not undertake any obligation to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

PLBY Group Contact:
Investors: investors@plbygroup.com
Media: press@plbygroup.com

Gametech Company Contact:
Jason Drummond, CEO
jd@gametech.com

Gametech Investor Contact:
The Del Mar Consulting Group, Inc.
Bob Prag, President
(858) 794-9500
bprag@delmarconsulting.com

Marijuana and Sports, Where Officials Stand

Posted on by Admin 


	Image Credit: Bruce Detorres (Flickr)


Marijuana is Winning the Sports Battle

 

THC is a restricted chemical in athletic competition for sports leagues and federations that have signed on to the World Anti-Doping Code. The Code, sometimes referred to as WADA, is a document aimed to define what is and is not permitted for athlete use for the protection of the validity of the sports that have signed it — and for the health of the athletes. Consistency among sports organizations across the globe has been the WADA objective since being founded in 1999.

Organizations at Odds with WADA

Just as the legitimacy and safety of cannabis products have produced state laws at odds with the overriding federal government, so too do the athletic commissions of some states that, in defiance, have removed their marijuana THC prohibitions in many sports.    

The Nevada Athletic Commission (NAC) unanimously agreed on Wednesday (July 7) to change its policy and amend its anti-doping rules by removing the threat of suspension over cannabis use or possession for boxers. There are no longer any penalties threatening the athletes. Fighters would still be barred from the ring if they demonstrate intoxication. Ring sports in Nevada, boxing and mixed martial arts (MMA), are revered as first-class,  this was pointed out by the Commission Chair Stephen Cloobeck, “I think being the gold standard with regard to combat sports—both [Mixed Martial Arts] and boxing—being a world-class destination, and having our state show the leadership and the fortitude in light of some of the recent circumstances we’ve all seen on television, we should be always at the forefront of these issues,” Cloobeck said at Wednesday’s meeting. Drug tests for marijuana will still continue for the next six months for “data collection purposes.”

 

        U.S. Rep. Dina Titus (D-NV) praised the commission’s action on Wednesday.

 

In May of 2021, The Florida State Boxing Commission stopped testing fighters for marijuana. At the time, Bob Bennett, the executive director of the Florida NAC said, “Marijuana is considered to be a substance of abuse and not a performance-enhancing drug.” He explained, “I think our goal is to test for performance-enhancing drugs in an effort to ensure there’s a level playing field.”

In January the USADA and UFC announced they would no longer punish ring sports athletes with positive marijuana tests. It’s important to note that the UFC is not a signatory of WADA so the restrictions are not the same as athletes that are being ranked for international competitions including the Olympics.

An official statement this Tuesday from USA Track & Field (USATF), the nation’s governing body for running, was referring to a new case where a runner who was favored for a gold medal in the Tokyo Olympics was suspended, it read: that it’s currently unwilling to amend its own internal rules to make an exception in her case; however, it also said that international policy on cannabis punishing athletes “should be reevaluated.”

As part of a collective bargaining contract, the NFL’s policy related to cannabis changed in 2020. Under the policy, NFL players will not face the risk of suspension from games over positive tests for any drug. Marijuana, of course, falls within that umbrella of protection.    

In 2019 Major League Baseball decided to remove the herb from its list of banned substances. Players may consume marijuana without risk of discipline but may not play under the influence.

The NBA is currently operating under a  temporary policy to not randomly test for THC. This could soon become permanent. Rather than mandate blanket tests, Commissioner Adam Silver said the league would be reaching out to players who show signs of problematic dependency, not those who are “using marijuana casually.”

 

Take-Away

Recently Justice Clarence Thomas wrote in regards to federal cannabis laws being at odds with many state laws, “The Federal Government’s current approach is a half-in, half-out regime that simultaneously tolerates and forbids local use of marijuana.” As marijuana has various levels of acceptance within the public sphere, there are also various levels of rules that at times seem to conflict.

Professional sports and other entertainers often lead the way to full public acceptance of a once-taboo idea. While there have been athletes over the years who have lost advertising sponsorships for Marijuana use, it may not be too far off when we see this turned around, where athletes are openly endorsing a marijuana product for compensation.

 

Suggested Reading:




”

Clarence Thomas’ Statement on Half-in/Half-out Marijuana Laws

”



Will Federal Law Surrounding Marijuana be Changed?





The Future of Cannabis Crosses Many Industries



Lithium Ion Battery Recycling Heats Up

 

Sources:

https://boxing.nv.gov/uploadedFiles/boxingnvgov/content/Commission_Statements/NSAC_Marijuana_Testing_Policy_Memorandum.pdf

https://www.marijuanamoment.net/nevada-sports-regulators-ditch-marijuana-testing-for-fighters-days-after-richardsons-olympics-suspension/

https://pubmed.ncbi.nlm.nih.gov/26178329/

https://www.wada-ama.org/en/what-we-do/the-code

https://thenevadaindependent.com/article/nevada-athletic-commission-rules-that-marijuana-possession-and-use-will-not-disqualify-fighters

https://twitter.com/repdinatitus

https://www.mmafighting.com/2021/1/14/22230502/ufc-usada-significant-rule-change-marijuana-thc-use-under-updated-anti-doping-program-rules

https://www.marijuanamoment.net/new-nfl-policy-would-end-suspensions-for-testing-positive-for-any-drug-not-just-marijuana/

https://www.usatoday.com/story/sports/nfl/2014/09/13/nfl-new-drug-policy-three-things/15571205/

https://www.marijuanamoment.net/nba-players-wont-be-tested-for-marijuana-next-year-as-league-weighs-permanent-change/

 

Stay up to date. Follow us:

 

Marijuana and Sports Where Officials Stand

Posted on by Admin 


	Image Credit: Bruce Detorres (Flickr)


Marijuana is Winning the Sports Battle

 

THC is a restricted chemical in athletic competition for sports leagues and federations that have signed on to the World Anti-Doping Code. The Code, sometimes referred to as WADA, is a document aimed to define what is and is not permitted for athlete use for the protection of the validity of the sports that have signed it — and for the health of the athletes. Consistency among sports organizations across the globe has been the WADA objective since being founded in 1999.

Organizations at Odds with WADA

Just as the legitimacy and safety of cannabis products have produced state laws at odds with the overriding federal government, so too do the athletic commissions of some states that, in defiance, have removed their marijuana THC prohibitions in many sports.    

The Nevada Athletic Commission (NAC) unanimously agreed on Wednesday (July 7) to change its policy and amend its anti-doping rules by removing the threat of suspension over cannabis use or possession for boxers. There are no longer any penalties threatening the athletes. Fighters would still be barred from the ring if they demonstrate intoxication. Ring sports in Nevada, boxing and mixed martial arts (MMA), are revered as first-class,  this was pointed out by the Commission Chair Stephen Cloobeck, “I think being the gold standard with regard to combat sports—both [Mixed Martial Arts] and boxing—being a world-class destination, and having our state show the leadership and the fortitude in light of some of the recent circumstances we’ve all seen on television, we should be always at the forefront of these issues,” Cloobeck said at Wednesday’s meeting. Drug tests for marijuana will still continue for the next six months for “data collection purposes.”

 

        U.S. Rep. Dina Titus (D-NV) praised the commission’s action on Wednesday.

 

In May of 2021, The Florida State Boxing Commission stopped testing fighters for marijuana. At the time, Bob Bennett, the executive director of the Florida NAC said, “Marijuana is considered to be a substance of abuse and not a performance-enhancing drug.” He explained, “I think our goal is to test for performance-enhancing drugs in an effort to ensure there’s a level playing field.”

In January the USADA and UFC announced they would no longer punish ring sports athletes with positive marijuana tests. It’s important to note that the UFC is not a signatory of WADA so the restrictions are not the same as athletes that are being ranked for international competitions including the Olympics.

An official statement this Tuesday from USA Track & Field (USATF), the nation’s governing body for running, was referring to a new case where a runner who was favored for a gold medal in the Tokyo Olympics was suspended, it read: that it’s currently unwilling to amend its own internal rules to make an exception in her case; however, it also said that international policy on cannabis punishing athletes “should be reevaluated.”

As part of a collective bargaining contract, the NFL’s policy related to cannabis changed in 2020. Under the policy, NFL players will not face the risk of suspension from games over positive tests for any drug. Marijuana, of course, falls within that umbrella of protection.    

In 2019 Major League Baseball decided to remove the herb from its list of banned substances. Players may consume marijuana without risk of discipline but may not play under the influence.

The NBA is currently operating under a  temporary policy to not randomly test for THC. This could soon become permanent. Rather than mandate blanket tests, Commissioner Adam Silver said the league would be reaching out to players who show signs of problematic dependency, not those who are “using marijuana casually.”

 

Take-Away

Recently Justice Clarence Thomas wrote in regards to federal cannabis laws being at odds with many state laws, “The Federal Government’s current approach is a half-in, half-out regime that simultaneously tolerates and forbids local use of marijuana.” As marijuana has various levels of acceptance within the public sphere, there are also various levels of rules that at times seem to conflict.

Professional sports and other entertainers often lead the way to full public acceptance of a once-taboo idea. While there have been athletes over the years who have lost advertising sponsorships for Marijuana use, it may not be too far off when we see this turned around, where athletes are openly endorsing a marijuana product for compensation.

 

Suggested Reading:




”

Clarence Thomas’ Statement on Half-in/Half-out Marijuana Laws

”



Will Federal Law Surrounding Marijuana be Changed?





The Future of Cannabis Crosses Many Industries



Lithium Ion Battery Recycling Heats Up

 

Sources:

https://boxing.nv.gov/uploadedFiles/boxingnvgov/content/Commission_Statements/NSAC_Marijuana_Testing_Policy_Memorandum.pdf

https://www.marijuanamoment.net/nevada-sports-regulators-ditch-marijuana-testing-for-fighters-days-after-richardsons-olympics-suspension/

https://pubmed.ncbi.nlm.nih.gov/26178329/

https://www.wada-ama.org/en/what-we-do/the-code

https://thenevadaindependent.com/article/nevada-athletic-commission-rules-that-marijuana-possession-and-use-will-not-disqualify-fighters

https://twitter.com/repdinatitus

https://www.mmafighting.com/2021/1/14/22230502/ufc-usada-significant-rule-change-marijuana-thc-use-under-updated-anti-doping-program-rules

https://www.marijuanamoment.net/new-nfl-policy-would-end-suspensions-for-testing-positive-for-any-drug-not-just-marijuana/

https://www.usatoday.com/story/sports/nfl/2014/09/13/nfl-new-drug-policy-three-things/15571205/

https://www.marijuanamoment.net/nba-players-wont-be-tested-for-marijuana-next-year-as-league-weighs-permanent-change/

 

Stay up to date. Follow us:

 

OPEC Inspired Price Compressions Impact on Business

Posted on by Admin 


	Image Credit: Alexander Schimmeck (Unsplash)


OPEC’s Rift Impacts U.S. Energy Markets, Including Alternative

 

Oil prices are almost 40% higher than they began the year. Should the 5% dip over the past week be cause for concern among energy investors? Perhaps the reasons for the dip, impact on competition, and the U.S. production level ought to attract the most focus.

The volatility comes after an aborted meeting of OPEC+, the outcome of which was expected to result in an agreement to increase output, undoing 2020 cuts implemented as the economic lockdowns caused a worldwide glut of crude oil. Instead, OPEC+, which includes the original OPEC cartel members and their oil-producing allies, failed to reach an agreement.

 

Background:

In 2020 OPEC+ made the decision to severely slow production by nearly 10 million barrels a day as demand vanished from the impact of lockdown orders in economies both large and small. In 2021, the price of oil had risen as much as 50% to its high point as the world began relaxing COVID-era restrictions. Oil-exporting nations are now looking to orchestrate the way forward out of the pandemic crisis and into a world where world energy needs are expected to turn sharply away from petroleum.

 

The Agreement that Didn’t Happen

The expected
agreement that would have increased world oil production fell apart because of a conflict between Saudi Arabia and the U.A.E. The U.A.E. asked to have its production target increased, this would have expanded its percentage of combined OPEC output. Increasing one country’s overall share has a tendency to create conflict. The cartel has stayed united with minimum open conflict, and they only act with a unanimous vote.  The current outcome of “status quo” where the countries are expected to operate under the existing Covid era limited output will have the effect of keeping oil prices high but perhaps cut into potential revenue for the members involved.

 

 

U.S. Oil Prices vs. International

U.S. oil prices jumped and then declined yesterday (July 7) as traders deciphered and adjusted to the new OPEC outlook. Oil price volatility isn’t all that the markets experienced by the uncertain future. Oil spreads, the gap between international crude and U.S. production have narrowed.  Producers globally benefit from higher prices. Downstream related business such as refiners prefer fat spreads between U.S. and non-domestic per barrel prices. The narrowing can be seen as a drag on some U.S. energy stocks.

Benchmark U.S. crude oil prices were up about 1% Wednesday morning (July 7), then turned sharply down about 2.6% by 10:40 a.m. E.S.T. Benchmark global crude prices began up about 0.8% before turning lower, dropping about 2.1%. West Texas Intermediate oil futures, the U.S. benchmark, are at $71.48 a barrel. Brent crude oil futures, the international benchmark, are at $72.95 a barrel.

Supply-demand factors in the U.S. are a driver of the spread compression. U.S. inventory post-Covid is at a massive deficit compared to normal levels. As the U.S. economy is sprinting out of last year’s poor economy, the rest of the world is crawling forward from the problems. Narrower spreads tend to reduce U.S. exports and invite imports. This dampens the potential for U.S. producers.

OPEC controls about one-third of global oil production. A rift between two rival countries could impact what occurs with energy sources that compete with oil and even help speed or slow movement away from petroleum. Competition between Gulf allies is heating up in other areas as well as the countries are working to diversify their revenue to be less reliant on oil as the move to reduce dependence accelerates. Increasing Petrodollars ($ U.S. dollars exchanged for crude) are important.

 

Take-Away

The rift between Saudi Arabia and the U.A.E. may widen or narrow. The countries are going through a challenging time where revising their economies for diversified income appears critical. The U.A.E. is ahead of the Saudis on this; financing additional economic revitalization projects increases the thirst for maximizing oil sales profit.

What occurs halfway across the world impacts the spread between U.S. crude and all other sources. When the spread narrows, other sources become more attractive than they had been. This can impact not just domestic oil sales but related businesses down the line, and even competing energy sources.

 

Suggested Reading:



Oil Market Conditions May Change as We Enter the Second Half of 2021

How Does the Gates Buffett Natrium Reactor Work?





Space SPACs in the SPAC Space

Can You Invest in Uranium Directly?

 

Sources:

https://www.barrons.com/articles/three-stock-picks-to-play-the-wti-brent-spread-1528226297?mod=article_inline

https://www.barrons.com/articles/opec-meeting-oil-output-delay-51625170007?mod=article_inline

https://finance.yahoo.com/quote/CL%3DF/chart

https://www.aljazeera.com/economy/2021/7/7/saudi-uae-rivalry-takes-shape-amid-opec-spat-and-competing-hubs

 

Stay up to date. Follow us:

 

QuickChek – July 8, 2021

Posted on by Admin



Capstone Green Energy Signs 10-Year Service Contract On Energy Efficiency System At A Large Spirit Distillery In Jamaica

Capstone Green Energy announced a new 10-year Capstone Factory Protection Plan (FPP) service contract for a Capstone Signature Series C200S system installed in Jamaica

Research, News & Market Data on Capstone Green Energy

Watch recent presentation from Capstone Green Energy



Endeavour Silver Produces 1,073,724 Oz Silver And 11,166 Oz Gold For 2.0 Million Oz Silver Equivalents In Q2, 2021

Endeavour Silver announced Q2 2021 silver and gold production

Research, News & Market Data on Endeavour Silver

Watch recent presentation from Endeavour Silver



Helius Medical Technologies, Inc. to Participate in the Annual World Congress of the Society for Brain Mapping and Therapeutics
Helius Medical Technologies, Inc. Appoints Antonella Favit-Van Pelt, M.D., Ph.D. as Chief Medical Officer

Research, News & Market Data on Helius Medical

Watch recent presentation from Helius Medical



Playboy and Gaming Technologies, Inc. Announce Partnership to Launch New Rummy Mobile Game in India

PLBY Group announced a partnership to bring a new Playboy-branded, skill-based, real-money Rummy mobile game to the Indian market

Research, News & Market Data on PLBY Group

Stay up to date. Follow us:

OPEC Inspired Price Compression’s Impact on Business

Posted on by Admin 


	Image Credit: Alexander Schimmeck (Unsplash)


OPEC’s Rift Impacts U.S. Energy Markets, Including Alternative

 

Oil prices are almost 40% higher than they began the year. Should the 5% dip over the past week be cause for concern among energy investors? Perhaps the reasons for the dip, impact on competition, and the U.S. production level ought to attract the most focus.

The volatility comes after an aborted meeting of OPEC+, the outcome of which was expected to result in an agreement to increase output, undoing 2020 cuts implemented as the economic lockdowns caused a worldwide glut of crude oil. Instead, OPEC+, which includes the original OPEC cartel members and their oil-producing allies, failed to reach an agreement.

 

Background:

In 2020 OPEC+ made the decision to severely slow production by nearly 10 million barrels a day as demand vanished from the impact of lockdown orders in economies both large and small. In 2021, the price of oil had risen as much as 50% to its high point as the world began relaxing COVID-era restrictions. Oil-exporting nations are now looking to orchestrate the way forward out of the pandemic crisis and into a world where world energy needs are expected to turn sharply away from petroleum.

 

The Agreement that Didn’t Happen

The expected
agreement that would have increased world oil production fell apart because of a conflict between Saudi Arabia and the U.A.E. The U.A.E. asked to have its production target increased, this would have expanded its percentage of combined OPEC output. Increasing one country’s overall share has a tendency to create conflict. The cartel has stayed united with minimum open conflict, and they only act with a unanimous vote.  The current outcome of “status quo” where the countries are expected to operate under the existing Covid era limited output will have the effect of keeping oil prices high but perhaps cut into potential revenue for the members involved.

 

 

U.S. Oil Prices vs. International

U.S. oil prices jumped and then declined yesterday (July 7) as traders deciphered and adjusted to the new OPEC outlook. Oil price volatility isn’t all that the markets experienced by the uncertain future. Oil spreads, the gap between international crude and U.S. production have narrowed.  Producers globally benefit from higher prices. Downstream related business such as refiners prefer fat spreads between U.S. and non-domestic per barrel prices. The narrowing can be seen as a drag on some U.S. energy stocks.

Benchmark U.S. crude oil prices were up about 1% Wednesday morning (July 7), then turned sharply down about 2.6% by 10:40 a.m. E.S.T. Benchmark global crude prices began up about 0.8% before turning lower, dropping about 2.1%. West Texas Intermediate oil futures, the U.S. benchmark, are at $71.48 a barrel. Brent crude oil futures, the international benchmark, are at $72.95 a barrel.

Supply-demand factors in the U.S. are a driver of the spread compression. U.S. inventory post-Covid is at a massive deficit compared to normal levels. As the U.S. economy is sprinting out of last year’s poor economy, the rest of the world is crawling forward from the problems. Narrower spreads tend to reduce U.S. exports and invite imports. This dampens the potential for U.S. producers.

OPEC controls about one-third of global oil production. A rift between two rival countries could impact what occurs with energy sources that compete with oil and even help speed or slow movement away from petroleum. Competition between Gulf allies is heating up in other areas as well as the countries are working to diversify their revenue to be less reliant on oil as the move to reduce dependence accelerates. Increasing Petrodollars ($ U.S. dollars exchanged for crude) are important.

 

Take-Away

The rift between Saudi Arabia and the U.A.E. may widen or narrow. The countries are going through a challenging time where revising their economies for diversified income appears critical. The U.A.E. is ahead of the Saudis on this; financing additional economic revitalization projects increases the thirst for maximizing oil sales profit.

What occurs halfway across the world impacts the spread between U.S. crude and all other sources. When the spread narrows, other sources become more attractive than they had been. This can impact not just domestic oil sales but related businesses down the line, and even competing energy sources.

 

Suggested Reading:



Oil Market Conditions May Change as We Enter the Second Half of 2021

How Does the Gates Buffett Natrium Reactor Work?





Space SPACs in the SPAC Space

Can You Invest in Uranium Directly?

 

Sources:

https://www.barrons.com/articles/three-stock-picks-to-play-the-wti-brent-spread-1528226297?mod=article_inline

https://www.barrons.com/articles/opec-meeting-oil-output-delay-51625170007?mod=article_inline

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Release – Helius Medical Technologies Inc. Appoints Antonella Favit-Van Pelt M.D. Ph.D. as Chief Medical Officer

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Helius Medical Technologies, Inc. Appoints Antonella Favit-Van Pelt, M.D., Ph.D. as Chief Medical Officer

 

NEWTOWN, Pa., July 08, 2021 (GLOBE NEWSWIRE) — Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced the appointment of Antonella Favit-Van Pelt, M.D., Ph.D. to the position of Chief Medical Officer.

“I am very pleased to welcome Dr. Favit-Van Pelt to Helius, who joins our team with a clinical and academic background in Neurology, as well as 20 years of experience advising and leading medical programs for healthcare companies – including both large, globally-diversified corporations and smaller, earlier-stage companies,” said Helius CEO, Dane Andreeff. “I look forward to her future contributions as we continue our efforts to raise awareness of PoNS technology and its therapeutic benefits among clinicians, patients and payors in the U.S. market, while planning to enter the next phase of our clinical and regulatory strategy.”

“Helius is breaking new ground in the field of neurology with its PoNS technology, which has great potential as a non-invasive, non-drug therapy for patients suffering from a variety of chronic and debilitating neurological conditions,” said Dr. Favit-Van Pelt. “I am excited to join Helius on the heels of its first U.S. regulatory clearance in multiple sclerosis and look forward to continuing the Company’s recent market development, clinical and regulatory progress.”

Prior to joining Helius, Dr. Favit-Van Pelt led U.S. Medical Strategy for the Neurology program of H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY), a global pharmaceutical company that specializes in the treatment of brain diseases, from 2018 to 2021. In this position, she oversaw the U.S. medical and life-cycle program activities related to therapies for movement disorders and epilepsy.

In 2013, Dr. Favit-Van Pelt founded Synaerion Therapeutics (“Synaerion”) and, in 2016, its affiliate Thera Neuropharma, Inc. (“Thera”), two privately-held biotechnology companies developing a small molecule regenerative therapy and RNAi-based integrated technology platform for ALS and traumatic brain injury (“TBI”). She oversaw all aspects of Synaerion’s and Thera’s management and strategy as Chief Executive Officer, President & Chairwoman of the Board from 2014 to 2017 and she continues to serve as President & Chairwoman. In 2009, she founded StratMedica, LLC, a privately-held company designed to provide corporate clients with contract senior management support. As Principal of StratMedica from 2009 to 2016, she directed clinical development and medical programs for eight healthcare companies, including Johnson & Johnson (NYSE: JNJ) and Teva (NYSE: TEVA). Dr. Favit-Van Pelt served as Senior Director and Global Medical Lead at Shire Pharmaceuticals (Nasdaq: SPHG) from 2007 to 2008, as Director of Medical Strategy at Bristol-Myers Squibb (NYSE: BMY) from 2005 to 2007, and as Global Clinical Development Lead at GE Healthcare (formerly Amersham Health) from 2001 to 2005.

Dr. Favit-Van Pelt is a Board-certified neurologist who began clinical practice activity in 1994, with a focus on patients with rare neuromuscular disorders. She holds a graduate degree in Medicine and Surgery and a Ph.D. in Pharmacology from the School of Medicine and Surgery at the University of Catania, Italy.        

As a material inducement to entering into employment with Helius, Dr. Favit-Van Pelt, who was not previously an employee or director of Helius, received options to purchase 18,000 shares of the Company’s Class A common stock under Helius’ Inducement Plan. The equity award under Helius’ Inducement Plan was approved by the Company’s independent directors in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

The options awards have an exercise price of $16.45 per share, the closing price of Helius’ Class A common stock on July 7, 2021, the date of the grant. The options have a ten-year term and vest over a period of four years, with 25% vesting per year on the anniversary date of grant, provided Dr. Favit-Van Pelt’s employment is continuing on each such date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in Dr. Favit-Van Pelt’s option agreement.

About Helius Medical Technologies, Inc.

Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s first commercial product is the Portable Neuromodulation Stimulator (PoNS™). For more information, visit www.heliusmedical.com.

About the PoNS™ Device and PoNS Treatment™

The Portable Neuromodulation Stimulator (PoNS™) is an innovative non-surgical device, inclusive of a controller and mouthpiece, which delivers electrical stimulation to the surface of the tongue to provide treatment of gait deficit. The PoNS device is indicated for use in the United States as a short term treatment of gait deficit due to mild-to-moderate symptoms from multiple sclerosis (“MS”) and is to be used as an adjunct to a supervised therapeutic exercise program in patients 22 years of age and over by prescription only. It is authorized for sale in Canada as a class II, non-implantable, medical device intended as a short term treatment (14 weeks) of gait deficit due to mild and moderate symptoms from MS, and chronic balance deficit due to mild-to-moderate traumatic brain injury (“mmTBI”) and is to be used in conjunction with physical therapy. PoNS is an investigational medical device in the European Union (“EU”) and Australia (“AUS”). It is currently under premarket review by the AUS Therapeutic Goods Administration.

Cautionary Disclaimer Statement: 

Certain statements in this news release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements are often identified by terms such as “believe,” “continue,” “looking ahead,” “will,” “committed to,” “goal,” “expect,” “remain,” “hope” and similar expressions. Such forward-looking statements include, among others, statements regarding the Company’s future strategic and operational execution, the next phase of the Company’s market development activities, the Company’s ability to spread awareness of of PoNS technology, clinical and regulatory development plans for the PoNS device, and the timing and success of the Company’s commercialization efforts in the United States.

These statements involve substantial known and unknown risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties regarding the Company’s capital requirements to achieve its business objectives, the impact of the COVID-19 pandemic, the Company’s ability to train physical therapists in the supervision of the use of the PoNS Treatment, the Company’s ability to secure contracts with rehabilitation clinics, the Company’s ability to obtain national Medicare coverage and to obtain a reimbursement code so that the PoNS device is covered by Medicare and Medicaid, the Company’s ability to build internal commercial infrastructure, market awareness of the PoNS device, future clinical trials and the clinical development process, manufacturing and supply chain risks, potential changes to the MCIT program, the product development process and FDA regulatory submission review and approval process, other development activities, ongoing government regulation, and other risks detailed from time to time in the “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and its other filings with the United States Securities and Exchange Commission and the Canadian securities regulators, which can be obtained from either at www.sec.gov or www.sedar.com.The reader is cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements except to the extent required by law.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. 

CONTACT: Investor Relations Contact: Westwicke on behalf of Helius Medical Technologies, Inc. Jack Powell, Vice President investorrelations@heliusmedical.com

Release – Helius Medical Technologies, Inc. to Participate in the Annual World Congress of the Society for Brain Mapping and Therapeutics

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Helius Medical Technologies, Inc. to Participate in the Annual World Congress of the Society for Brain Mapping and Therapeutics

 

NEWTOWN, Pa., July 07, 2021 (GLOBE NEWSWIRE) — Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced it will participate in the Annual World Congress of the Society for Brain Mapping and Therapeutics, which will be held from July 8-11th in Los Angeles, California.

The Company has been selected to receive the Pioneer in Technology Award during the event, an award presented by the Society to trail blazing companies who have facilitated the development of pioneering technologies through interdisciplinary approaches that have impacted diagnostics, treatment and healthcare delivery in unprecedented ways.

Dr. Jonathan Sackier, Helius’ Co-Founder and Medical Advisor, will host a presentation during the event titled: From porpoise to PoNS™: the bridge of Varolio and translingual neuromodulation to address balance and gait symptoms. The presentation will include a discussion of the history of neuromodulation, the science behind Helius’ PoNS technology, data from trials in experimental and clinical settings – including trials focused on multiple sclerosis, traumatic brain injury, stroke and cerebral palsy – and the PoNS device’s recent regulatory clearances. The presentation will be held on July 11th at 10 a.m. Pacific Time.

About Helius Medical Technologies, Inc.

Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s first commercial product is the Portable Neuromodulation Stimulator (PoNSTM). For more information, visit www.heliusmedical.com.

About the PoNS™ Device and PoNS Treatment™

The Portable Neuromodulation Stimulator (PoNSTM) is an innovative non-surgical device, inclusive of a controller and mouthpiece, which delivers electrical stimulation to the surface of the tongue to provide treatment of gait deficit. The PoNS device is indicated for use in the United States as a short term treatment of gait deficit due to mild-to-moderate symptoms from multiple sclerosis (“MS”) and is to be used as an adjunct to a supervised therapeutic exercise program in patients 22 years of age and over by prescription only. It is authorized for sale in Canada as a class II, non-implantable, medical device intended as a short term treatment (14 weeks) of gait deficit due to mild and moderate symptoms from MS, and chronic balance deficit due to mild-to-moderate traumatic brain injury (“mmTBI”) and is to be used in conjunction with physical therapy. PoNS is an investigational medical device in the European Union (“EU”) and Australia (“AUS”). It is currently under premarket review by the AUS Therapeutic Goods Administration.

Cautionary Disclaimer Statement: 

Certain statements in this news release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements are often identified by terms such as “believe,” “continue,” “looking ahead,” “will,” “committed to,” “goal,” “expect,” “remain,” “hope” and similar expressions. Such forward-looking statements include, among others, statements regarding the Company’s future strategic and operational execution, the next phase of the Company’s market development activities, clinical and regulatory development plans for the PoNS device, and the timing and success of the Company’s commercialization efforts in the United States.

These statements involve substantial known and unknown risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties regarding the Company’s capital requirements to achieve its business objectives, the impact of the COVID-19 pandemic, the Company’s ability to train physical therapists in the supervision of the use of the PoNS Treatment, the Company’s ability to secure contracts with rehabilitation clinics, the Company’s ability to obtain national Medicare coverage and to obtain a reimbursement code so that the PoNS device is covered by Medicare and Medicaid, the Company’s ability to build internal commercial infrastructure, market awareness of the PoNS device, future clinical trials and the clinical development process, manufacturing and supply chain risks, potential changes to the MCIT program, the product development process and FDA regulatory submission review and approval process, other development activities, ongoing government regulation, and other risks detailed from time to time in the “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and its other filings with the United States Securities and Exchange Commission and the Canadian securities regulators, which can be obtained from either at www.sec.gov or www.sedar.com.The reader is cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements except to the extent required by law.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

CONTACT: Investor Relations Contact: Westwicke on behalf of Helius Medical Technologies, Inc. Jack Powell, Vice President investorrelations@heliusmedical.com

Release – Capstone Green Energy Signs 10-Year Service Contract On Energy Efficiency System At A Large Spirit Distillery In Jamaica

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Capstone Green Energy Signs 10-Year Service Contract On Energy Efficiency System At A Large Spirit Distillery In Jamaica

 

VAN NUYS, CA / ACCESSWIRE / July 8, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), announced today that Innovative Energy Company Limited, Capstone’s exclusive distributor for Jamaica and distributor for the oil and gas markets in Guyana, signed a new 10-year Capstone Factory Protection Plan (FPP) service contract for a Capstone Signature Series C200S system installed in Jamaica.

The Capstone Signature Series C200S system is owned and operated by one of the island’s largest and oldest spirit distilleries. The C200S, commissioned in late 2020, is used for 24×7 electrical and thermal energy generation and is configured for dual-mode operation allowing the distillery to provide backup power to critical loads in the event of a grid outage.

The project design efficiency is 85% and produces 100% of the distillery’s annual electrical energy, reducing the distillery’s total energy costs by 26%. Capstone’s Integrated Heat Recovery Module (iHRM) is mounted on the roof of the C200S and produces 1,000 MBtu/hr of hot water or 100% of the boiler feed water requirements, utilizing the microturbine’s exhaust heat. The system is configured as a low-pressure natural gas unit with onboard fuel compressors to provide the required fuel pressure to the engine. The project is also estimated to reduce the site’s greenhouse gas emissions by 14%.

The Capstone FPP will provide the end-use customer with fixed scheduled and unscheduled parts costs for the next 10 years, providing protection from future cost increases associated with the replacement of spare parts, commodity pricing, and import tariffs. “With the Capstone gold standard, all-inclusive Factory Protection Plan, our client is able to enjoy a 10-year, worry-free operational period, knowing that all maintenance costs for the project are covered,” said Nigel Davy, Managing Director of Innovative Energy Company Limited.

“We are pleased that Capstone Green Energy is playing a larger role in Jamaica’s commitment to integrate clean energy sources and increase energy resiliency as part of the Energy Cooperation Framework signed by the U.S. and Jamaica in 2018,” said Tracy Chidbachian, Capstone’s Director of Customer Service. “Capstone Green Energy, along with Innovative Energy Company, is leading the way in advancing Jamaica’s environmental goals by integrating clean energy sources, including natural gas and renewable energy,” concluded Ms. Chidbachian.

“With the change in climate and increase of tropical storms in the Caribbean, power outages are more than an inconvenience; they are a significant hazard. Power outages are detrimental to people’s well-being and safety and have a devastating impact on the region,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “This new contract demonstrates that Innovative Energy Company is taking steps to keep up with the energy revolution and protect its end-use customers from prolonged unplanned power outages caused by severe weather,” concluded Mr. Jamison.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – Endeavour Silver Produces 1073724 Oz Silver And 11166 Oz Gold For 2.0 Million Oz Silver Equivalents In Q2 2021

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Endeavour Silver Produces 1,073,724 Oz Silver And 11,166 Oz Gold For 2.0 Million Oz Silver Equivalents In Q2, 2021

 

VANCOUVER, British Columbia, July 08, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports production of 1,073,724 silver ounces (oz) and 11,166 gold oz in Q2, 2021, for silver equivalent (“AgEq”) production of 2.0 million oz at an 80:1 silver:gold ratio. Production continues to outpace the 2021 production guidance of 6.1-7.1 million silver equivalent ounces, totaling 3.9 million AgEq oz for the 6 months ended June 30, 2021.

Quarterly production increased significantly compared to Q2, 2020, when mining operations were temporarily suspended as mandated by the Mexican government to halt the spread of the COVID-19 pandemic from April 2020 to late May 2020.

2021 Second Quarter Highlights

  • Consolidated Production Ahead of Plan: Silver equivalent production at each mine is on track to meet or exceed 2021 production plans.

  • Guanacevi Production Ahead of Plan: Higher throughput and higher grades resulted in production exceeding plan during the quarter and ahead of the annual plan.

  • Bolanitos Production on Plan: Processed tonnes were ahead of plan, offset by slightly lower ore grades than planned during the quarter.

  • El Compas Production on Plan: Processed tonnes were ahead of plan, offset by slightly lower ore grades than planned during the quarter.

  • Metal Sales and Inventories: Sold 1,120,266 oz silver and 9,810 oz gold, held 459,659 oz silver and 1,891 oz gold of bullion inventory and 12,159 oz silver and 944 oz gold in concentrate inventory. Management withheld metal from sale during the price correction over last two weeks of June and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound in 2021.

  • Sold the El Cubo Assets: Completed the sale of the El Cubo mine in Guanajuato, Mexico to Guanajuato Silver (Formerly named VanGold Mining Corp) for $15 million in cash and share payments, with up to $3 million in contingent payments.

  • Seamless Management Succession Plan: Bradford Cooke stepped down as CEO and assumed the role of Executive Chair of the Company following the AGM on May 12, 2021. Dan Dickson assumed the role of CEO and Christine West was promoted to CFO.

  • Delivered Positive Brownfields Exploration Results at Guanacevi and Bolanitos: Drilling continued to intersect high-grade silver-gold mineralization in the Santa Cruz vein at Guanacevi, and in the Medallito and Belen veins at Bolanitos.

  • Delivered Positive Regional Exploration Result at the Terronera Development Project: Intercepted high-grade silver-gold mineralization in a number of structures near the Terronera vein. The Project Management Team continues to advance the feasibility study, which is expected to be completed during the third quarter of 2021.

Dan Dickson, Endeavour CEO, commented, “I am excited to lead the Endeavour team into the Company’s next chapter. I want to commend our management and employees who have professionally navigated the global pandemic with care and understanding for our fellow workers, business partners and communities. As an organization, our goal is to be a leader in our communities while delivering safe, sustainable production.”

In Q2, Endeavour delivered positive results in operations and exploration and is pushing to advance the Terronera project to a development decision with the completion of the Terronera Feasibility Study in Q3, 2021.”

Mine Operations

Consolidated silver and gold production in Q2, 2021 were both higher than Q2, 2020 due to the suspension of the Guanacevi, Bolanitos and El Compas mines as a result of the COVID-19 pandemic in Q2, 2020. Q2, 2021 production slightly exceeded plan as higher throughput at each operation contributed to the higher production.

Guanacevi throughput exceeded plan and was the highest quarterly throughput since 2014 as operations continued to outperform. Mining the new higher grade El Curse orebodies has led to significantly improved grades and mine plan flexibility. Additionally, supplies of local third-party ores continued to supplement mine production, amounting to 10% of quarterly throughput, and contributed to the higher ore grades.  

Bolanitos and El Compas processed tonnes, were all higher compared to plan, partly offset by slightly lower grades due to normal variations in the ore body. It is expected that grades will align with planned grades over the course of the year. As previously disclosed by the Company (see EDR news release dated January 7, 2021), the existing reserve at El Compas is limited and sufficient to continue mining until mid-2021. Management is currently assessing alternatives, including temporary closure.

COVID-19 pandemic remains relevant in Mexico, and at the Company’s business locations, process and protocols remain in place to ensure staff and workers as well as our communities remain as safe as possible. Vaccination programs are advancing in Mexico to allow a return of a new normal in the second half of this year.

Production Highlights for Three Months and Six Months Ended June 30, 2021

Three Months Ended June 30 Q2 2021 Highlights

 Six Months Ended June 30
2021 2020 % Change 2021 2020 % Change
242,018 114,120 112% Throughput (tonnes) 451,471 313,447 44%
1,073,724 596,545 80% Silver ounces produced 2,121,824 1,454,204 46%
11,166 5,817 92% Gold ounces produced 22,275 14,293 56%
1,062,267 590,618 80% Payable silver ounces produced 2,098,977 1,440,409 46%
10,955 5,717 92% Payable gold ounces produced 21,849 14,037 56%
1,967,004 1,061,905 85% Silver equivalent ounces produced(1) 3,903,824 2,597,644 50%
1,120,266 634,839 76% Silver ounces sold 1,743,645 1,300,339 34%
9,810 5,218 88% Gold ounces sold 20,473 12,672 62%

(1)    Silver equivalent ounces calculated using 80 :1 ratio .

 

Production Tables for Second Quarter, 2021 by Mine ( 
1 
)

Production Tonnes Tonnes Grade Grade Recovery Recovery Silver Gold
by mine Produced per day Ag gpt (1) Au gpt (1) Ag % Au % Oz Oz
Guanaceví 111,893 1,230 308 0.98 84.8% 87.5% 939,241 3,084
Bolañitos 107,912 1,186 39 2.14 88.7% 91.0% 120,044 6,753
El Compas 22,213 244 30 2.45 67.4% 76.0% 14,439 1,329
Consolidated 242,018 2,660 163 1.63 84.9% 87.9% 1,073,724 11,166

(1)  gpt = grams per tonne

 

Production Tables for Six Months Ended June 30, 2021 by Mine ( 
1 
)

Production Tonnes Tonnes Grade Grade Recovery Recovery Silver Gold
by mine Produced per day Ag gpt (1) Au gpt (1) Ag % Au % Oz Oz
Guanaceví 200,525 1,102 335 1.01 86.0% 89.5% 1,857,458 5,827
Bolañitos 205,604 1,130 39 2.15 87.8% 91.0% 226,271 12,935
El Compas 45,342 249 39 3.30 67.0% 73.0% 38,095 3,513
Consolidated 451,471 2,481 170 1.76 85.8% 87.2% 2,121,824 22,275

(2)   gpt = grams per tonne

 

Paloma Drill Results

Endeavour drilling has confirmed widespread alteration and low grade gold mineralization at its Paloma project. The Paloma project is a high-sulphidation, epithermal-style hydrothermal system located in the Chilean Miocene deposit belt, 180 kilometers southeast of the city of Calama, 5,000 metres above sea level. Endeavour has an option to acquire up to 70% ownership of 5,100 hectares from Compañía Minera del Pacifico.

To date, Endeavour completed 5,945 metres of diamond drilling in 13 drill holes. Highlights include 0.4 grams per tonne of gold over 46 metres true width, however it is interpreted that the drilling did not reach the core of the system. The exploration team is currently analyzing the drill results to develop the next phase drill program to test for the possibility of higher grade mineralization.

Management Appointment

Endeavour Silver is pleased to announce that Galina Meleger has been promoted to the position of Vice President of Investor Relations effective July 15th, 2021. Galina has been with Endeavour Silver since 2017 and brings extensive knowledge and leadership to her role with a strong understanding of business goals and a global investor network. Galina Meleger has over 15 years’ experience in the resource sector, in the capacity of investor relations, corporate communications and more recently ESG. During 2021, Galina was the recipient of several industry awards including the “Belle Mulligan Award for Leadership in Investor Relations” from CIRI (Canadian Investor Relations Institute) and the “30 under 40” which honors the most talented individuals in the investor relations community from NIRI (National Investor Relations Institute). Galina’s career history includes successful and highly regarded companies, with international listings, including, Newmarket Gold and then subsequently Kirkland Lake Gold, KGHM, and Copper Mountain Mining Corporation.

Release of Second Quarter, 2021 Financial Results and Conference Call

The 2021 Second Quarter Financial Results will be released before market on Tuesday, August 10, 2021 and a telephone conference call will be held the same day at 10:00am PT (1:00pm ET). To participate in the conference call, please dial the numbers below. No pass code is necessary.

Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: +604-638-5340

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass code is 7318#. The audio replay and a written transcript will be available on the Company’s website at www.edrsilver.com under the Investor Relations, Events section.

Qualified Person and QA/QC – Dale Mah, P.Geo., Vice President Corporate Development of Endeavour Silver, is the Qualified Person who reviewed and approved the technical information contained in this news release. A Quality Control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office and shipped to SGS Labs, where they are dried, crushed, split and 250 gram pulp samples are prepared for analysis. Gold is determined by fire assay with an atomic absorption (AAS) finish and silver by aqua regia digestion with ICP finish, over-limits by fire assay and gravimetric finish.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information:
Galina Meleger, Director, Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the impact of suspension of mining operations, Endeavour’s anticipated performance in 2021, including production forecasts, cost estimates and metal price estimates, and the timing and results of mine expansion and development and receipt of various permits. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, uncertainty of the ultimate impact of the COVID 19 pandemic on operations, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; metal prices; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, the impact of the COVID 19 pandemic on mining operations in Mexico generally, and the Company’s operations specifically, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, resource and reserve estimates, metal prices, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Source: Endeavour Silver Corporation

Seanergy Maritime (SHIP) – High-Grading Transactions Announced

Posted on by Admin

Thursday, July 08, 2021

Seanergy Maritime (SHIP)
High-Grading Transactions Announced

Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. Seanergy Maritime Holdings Corp. is the only pure-play Capesize shipping company listed in the US capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels, with total capacity of approximately 1,748,581 dwt and an average fleet age of about 9.8 years. The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and class A warrants under “SHIPW”.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Another Cape acquisition announced. A 2009-built Cape, to be named Friendship, will be acquired shortly for $24.6 million. The acquisition will be funded with cash on hand, but future debt financing in the 50% range is likely, similar to the other acquisitions completed this year. The acquisition, combined with the divestiture, should have a positive impact on the fleet profile, with the average age of the Capes dropping to 11.4 years.

    Partial offset with net proceeds from sale of oldest Cape.  In conjunction with the acquisition, the Friendship, a 2001-built Cape, will be sold for ~$12 million. The sale, which avoids an upcoming survey, should net ~$6 million after paying off secured debt of ~$6 million …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Palladium One Mining Inc. (NKORF)(PDM:CA) – Recent IP Surveys Yield Positive Implications for LK Project Resource Potential

Posted on by Admin

Thursday, July 08, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Recent IP Surveys Yield Positive Implications for LK Project Resource Potential

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    IP surveys underscore Kaukua South resource potential. Results from two recent induced polarization (IP) surveys confirmed an increase in the Kaukua South IP chargeability anomaly to over 7 kilometers in strike length from the initial 4 kilometer area where drilling has returned impressive drill results and confirmed mineralization. The anomaly has been extended northwest and to the south of the Kaukua pit-constrained resource offering the potential for an expanded Kaukua open pit.

    Putting it into perspective.  An existing NI 43-101 compliant Kaukua pit constrained resource of 635,600 ounces of indicated palladium equivalent resources and 525,800 inferred palladium equivalent resources only covers a strike length of 1 kilometer. The western grid survey indicated there may be an opportunity to significantly widen the existing Kaukua Pit, and the detection of a significant …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.