DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.
Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1QFY23 Results. Revenue totaled $72.7 million, down from $152.8 million in 1Q22, due to the absence of the short-term FEMA contract. DLH reported GAAP earnings of $1.5 million, or $0.11 per diluted share, compared to $7.8 million, or $0.55 per diluted share last year. EBITDA was $6.3 million, or 8.7% of revenue, compared to $13.2 million and 8.6% last year.
Adjusted Results. Adjusting for both the FEMA contribution last year and the partial quarter GRSi contribution in 1Q23, DLH would have reported revenue of $65.9 million, up from $61.7 million a year ago. Adjusted operating income was $5.3 million, compared to $4.9 million. Adjusted net income totaled $3.6 million, or EPS of $0.25, compared to $3.1 million and $0.22 last year. Adjusted EBITDA was $7.2 million, or 10.9% of adjusted revenue, compared to $6.9 million, or 11.1%, last year.
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CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.
Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid 4Q22 Operating Results. CoreCivic beat expectations for 4Q22. Reported revenue was $471.4 million, compared to $472.1 million in the year ago period and our estimate of $465 million. Reported net income was $24.4 million, or $0.21 per diluted share, compared to $28 million, or $0.23 per share, last year. We had forecast net income of $14.5 million, or $0.13 per share. Adjusted EBITDA for the quarter was $87.7 million, compared to our $73.1 million estimate, and $103.2 million in 4Q21.
La Palma Normalizing, but Labor Remains a Challenge. CoreCivic substantially completed the transition of inmate populations at La Palma during the quarter, a positive. However, staffing remains a challenge, with temporary incentives, above average wage pressure, and travel costs, all impacting margin, which we anticipate will continue through at least the first quarter of 2023.
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Is the Mismatch in Workers and Open Jobs Proving to Be Transitory?
Inflation has been the most bearish word for the stock and bond markets over the past year or more. Shortly after many of the supply chain issues cleared up, and the cargo ships were no longer stacked up outside of major ports, attracting scarce workers with higher pay became a growing cause of inflationary pressure. At the end of November 2022, Federal Reserve Chair Jerome Powell stated that “job openings exceed available workers by about 4 million.” That number has now grown to 4.7 million after the continued strengthening of the market for qualified labor.
This mismatch, depicted in the Fed Data below, between available positions and workers to fill them, developed a more inflationary trend. The graph depicts the mismatch of labor supply and demand and the extent that it has worsened.
When the civilian labor force is greater than employment plus job openings, the economy has an immediate capacity to fill open positions. Currently, the employment level plus job openings are at 170.5 million, while the total labor force is at 165.8 million. Thus the 4.7 million quoted earlier. There are a whopping 4.7 million more jobs available compared to people available to fill them.
The civilian labor force, the amount of people working or looking for a job, is shown below in red; the current employment level plus the number of job openings is shown in blue.
The pandemic has been emphasized as a cause of this not-very-transitory labor shortage, but the trends in labor demand and labor supply in the graph above indicate that demand was already outpacing supply as the US entered 2018. This was two years before the novel coronavirus hit US shores. Back then the mismatch was about one million workers fewer than jobs available before the economic disruption.
As the US began to move toward business-as-usual, news and market analysts offered many explanations for the labor shortage. These included childcare problems, health concerns, minimum wage pushback, and even a wave of new retirees.
The visual below shows the change experienced in the labor force participation rate (LFPR) for specific age groups: 20 to 24 years old, 25 to 54 years old, and 55+ years old. By subtracting the most recent LFPR from that of January 2020 we get the percentage-point change in labor force participation relative to the month just before the pandemic began impacting businesses.
When the pandemic hit, the sharpest decline in the LFPR was for workers between the ages of 20 and 24. Their LFPR decreased from 73% to 64.4% in 4 months before increasing again. However, at the end of 2022, the LFPR for 20- to 24-year-olds still hadn’t fully recovered and remained 1.7 percentage points below its January 2020 value.
This overall pattern is similar but less extreme for the other age groups. Although no age group fully recovered by the end of 2022, the 25-54 group was closest, at 0.7 percentage points below its January 2002 level. There’s been speculation older workers retired early (and permanently) during the pandemic, and the 55+ group remained 1.4 percentage points below its January 2020 level as of December 2022, with no sign of further recovery.
The mechanisms that cause inflation are widely understood. If there is a shortage of goods because of the supply chain, sellers can ask more for the product. If the cost of producing goods or providing services increase, perhaps because of the cost of labor, the seller may try to pass those higher costs along. On the demand-pull side, if there is an abundance of currency, this increases demand for goods and services and is also inflationary.
While the Fed has been waging a fight against rising prices by removing liquidity and ratcheting up the cost of money (interest rates), the number of open jobs compared to the number of workers available to fill them has widened.
Infectimune™ induced neutralizing antibody and robust T cell responses completely protecting animals against sickness after lethal challenge with live SARS-CoV-2 or influenza viruses
FLORHAM PARK, N.J., Feb. 08, 2023 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of targeted immunotherapies for cancer and infectious disease, announced that preclinical studies involving Infectimune™, PDS Biotech’s novel investigational immune activating platform, were published in the peer-reviewed journal, Viruses, demonstrating the technology’s ability to generate a broad immune response against viruses, including SARS-CoV-2 and multiple strains of influenza.
The paper, titled, “Recombinant Protein Vaccines Formulated with Enantio-Specific Cationic Lipid R-DOTAP Induce Protective Cellular and Antibody-Mediated Immune Responses in Mice,” highlighted results from preclinical studies. It was found that Infectimune™ (R-DOTAP) promoted strong T cell and antibody immune responses in both single- and multi-viral antigen (protein) containing vaccines. The vaccines induced antigen-specific and multi-cytokine-inducing CD8 and CD4 T cells associated with antigen-specific killing and immune memory, respectively.
Infectimune™ was tested in separate animal models of SARS-CoV-2 and influenza. Data suggest that Infectimune™ promotes robust neutralizing antibody and T cell responses to all three recombinant SARS‐CoV-2 spike protein variants tested in the studies. The investigational universal flu vaccine, containing two computationally optimized broadly reactive antigen (COBRA) influenza proteins, demonstrated induction of T cell and neutralizing antibodies against multiple strains of influenza. Robust T cell responses were also generated to influenza nucleoprotein, a protein contained in non-mutating regions of the virus. Importantly, these Infectimune™ induced neutralizing antibody and T cell responses completely protected animals from lethal challenges with live SARS-CoV-2 and influenza viruses. The Infectimune™ based vaccines also facilitated significant dose sparing of the viral protein antigens.
“We are encouraged by the data reported in Viruses which suggest that Infectimune™ is a promising platform for the effective delivery of recombinant protein antigens to the immune system and activation of the immune system for the development of next‐generation universal vaccines against respiratory viruses, including influenza and SARS-CoV-2,” stated Dr. Lauren V. Wood, Chief Medical Officer of PDS Biotech and one of the co-authors of the study. “PDS Biotech is advancing our Infectimune™ based programs, and these studies highlight the potential of Infectimune™ to induce memory T cell responses against viral antigens that can provide the immune system with long-term memory and sustained protection against infectious pathogens over an extended period of time.”
The research was funded in part by the National Institute of Allergy and Infectious Diseases, the University of Kentucky Flow Cytometry & Immune Monitoring and PDS Biotech.
About Infectimune™
Infectimune™ is a novel investigational immune activating platform that generates broad and robust antibody and T cell responses that provide durable protection against infectious disease. Infectimune™ based vaccines are given by intramuscular injection and generate robust and durable protection against infectious agents in preclinical studies. Infectimune™ based vaccines have demonstrated safety in preclinical studies and appear to provide more robust and longer-lasting protection against infectious disease.
About PDS Biotechnology
PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of targeted cancer and infectious disease immunotherapies based on our proprietary Versamune®, PDS0301, and Infectimune™ T cell-activating platforms. We believe our targeted Versamune® and PDS0301 based candidates have the potential to overcome the limitations of current immunotherapy approaches through the activation of the right type, quantity and potency of T cells. To date, our lead Versamune® clinical candidate, PDS0101, has demonstrated the ability to reduce tumors and stabilize disease in combination with approved and investigational therapeutics in patients with a broad range of HPV16-associated cancers in multiple Phase 2 clinical trials. Our Infectimune™ based vaccines have also demonstrated the potential to induce not only robust and durable neutralizing antibody responses, but also powerful T cell responses, including long-lasting memory T cell responses in pre-clinical studies to date. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.
Forward Looking Statements
This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune® and Infectimune™ based product candidates; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune® and Infectimune™ based product candidates and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including the Company’s ability to fully fund its disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim or preliminary results (including, without limitation, any preclinical results or data), which are not necessarily indicative of the final results of the Company’s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Versamune® is a registered trademark and Infectimune™ is a trademark of PDS Biotechnology.
HOUSTON, Feb. 08, 2023 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three and twelve months ended December 31, 2022 on Wednesday, February 15, 2023 at 7:00 a.m. C.S.T. A conference call with the Company will be held the same day at 9:00 a.m. C.S.T.
Investors and analysts are encouraged to pre-register for the conference call by using the link below. Participants who pre-register will be given a unique PIN to gain immediate access to the call. Pre-registration may be completed at any time up to the call start time.
The live call and replay can also be heard at https://edge.media-server.com/mmc/p/fzu8jqg4 or on the Company’s website, www.gldd.com, under Events on the Investor Relations page. A copy of the press release will be available on the Company’s website.
The Company Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 132-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.
For further information contact: Tina Baginskis Director, Investor Relations 630-574-3024
Vancouver, British Columbia–(Newsfile Corp. – February 7, 2023) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce the appointment of Paul Harbidge to its technical committee (the “Technical Committee”), which helps guide exploration, drilling and project management at the Company’s projects located in Québec, Canada, and to provide an update on the ongoing deep drilling programs at the Douay Gold Project (“Douay”) and the Joutel Gold Project (“Joutel”), which are held by a 50/50 joint venture (“JV”) between the Company and Agnico Eagle Mines Limited.
Mr. Harbidge is an accomplished geologist with more than 25 years of experience and a track record of discovering world-class gold deposits. He is currently President, Chief Executive Officer and a Director of Faraday Copper Corp., an emerging U.S. copper developer. Mr. Harbidge was previously President and Chief Executive Officer of GT Gold Corp. and led the company to a C$456 million acquisition by Newmont Mining Corp. in May 2021. Prior to that, Mr. Harbidge was Senior Vice President of Exploration for Goldcorp Inc. from 2016 until its acquisition by Newmont Mining Corp. in April 2019. He also led the exploration team at Randgold Resources Limited that was credited with five major gold discoveries. Mr. Harbidge holds a First-Class Honours Degree in Geology from Kingston University, London (UK) and a Master of Science in Mineral Exploration and Mining Geology from Leicester University (UK).
“We are thrilled to have Paul Harbidge join our Technical Committee, as his experience successfully leading teams to multiple world-class gold discoveries further strengthens our technical group during this critical phase of growth for the Company,” stated Matthew Hornor, CEO of Maple Gold. “2023 is shaping up to be an exciting year for the JV as we approach completion of the first phase (~6,000 m) of deep drilling at Joutel and with the planned deep drilling campaign (~10,000 m) at Douay testing beneath the known 6 x 2 km resource footprint already well underway.”
A total of six (6) drill holes and drillhole extensions are planned at Douay, several of which are expected to be drilled to 2,000 metres (“m”) downhole or more. Deep drilling will test beneath the current mineral resource (SLR 2022) and across the favorable Casa Berardi North Fault corridor, where modeled wireframes demonstrate the potential for higher-grade (>2 grams per tonne (“g/t”) gold (“Au”)) mineralization at greater depths.
Deep drilling at Douay commenced in early January 2023 with drill hole DO-23-331, which is collared approximately 400 m southwest of the conceptual pit limits at the 531 Zone (see Figure 1). Previous drilling at the 531 Zone has returned some of the highest-grade and largest gold accumulations (grade x thickness) to-date at Douay, including 8.8 g/t Au over 28.5 m at a depth of 295.0 m in drill hole DO-21-310 (see news from September 9, 2021). While the primary target for this hole is located approximately 1,900 m downhole, where it is expected to intersect the projection of the defined mineralized zone at the 531 Zone significantly down-plunge, DO-23-331 will also serve to test the full width of the mineralized corridor in this area (see Figure 2). DO-23-331 is currently approaching 1,100 m downhole and is proving to be more mineralized than anticipated in the hanging wall rocks (see drill core images with preliminary observations in Plate 1).
Two (2) additional drill rigs were recently mobilized to Douay and as previously reported the Company expects five (5) rigs to be turning concurrently throughout Q1/2023.
“We are encouraged and cautiously optimistic after observing significant pyrite mineralization in the upper portion of the first deep drill hole in an area well south of the 531 Zone with very limited drilling,” stated Fred Speidel, VP Exploration of Maple Gold. “These initial observations point to the potential for these deep drill holes to intersect new mineralized horizons enroute to the targeted depths.”
Figure 1: Plan view showing locations of DO-23-331 and DO-23-332 (both in progress) with line of section for DO-23-331.
Figure 2: Cross section (300 m total width) looking WNW showing DO-23-331 drill hole trace with position of Casa Berardi North Fault (CBNF) and primary target corridor at depth.
Assays for the entire deep drilling program (Douay and Joutel) are pending and results will be released on a periodic basis over the coming months once they are received and interpreted.
Option Issuance
The Company has approved the grant to certain consultants of stock options (“Options”) to purchase an aggregate of 200,000 common shares of the Company at an exercise price of $0.26 per common share. The Options have a 5-year term and vest 1/3 immediately, 1/3 in 12 months and 1/3 in 24 months from the date of grant until fully vested.
Qualified Person
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.
The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.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 Statements:
This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Deep drilling program at Douay. A 10,000-meter drill program is underway at the Douay project, a joint venture with Agnico Eagle. Two additional drill rigs were mobilized at Douay and the company expects progress to accelerate with five rigs turning throughout the first quarter of 2023. A total of six drill holes are planned, several of which are expected to be drilled to at least 2,000 meters downhole. Mines in the Abitibi gold belt are known for vertical continuity and higher grades at depth. Deep drilling will test beneath the current mineral resource and across the Casa Berardi North Fault corridor.
Nearing the target. In January,deep drilling at Douay commenced with Hole DO-23-331, collared approximately 400 meters southwest of the conceptual pit limits at the 531 Zone, currently approaching 1,100 meters downhole. Previous drilling at the 531 Zone returned some of the highest-grade and largest accumulations of gold at Douay based on grade and thickness. The primary target is roughly 1,900 meters downhole where it is expected to intersect the projection of the defined mineralized zone at the 531 Zone significantly down plunge. Hole DO-23-331 will also test the width of the mineralized corridor in this area.
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Alvopetro Energy Ltd.’s vision is to become a leading independent upstream and midstream operator in Brazil. Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in Brazil, building off the development of our Caburé natural gas field and our strategic midstream infrastructure.
Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Production running ahead of our modeling. January sales volumes averaged 2,754 boepd ahead of our 2023-1Q quarterly estimate of 2,710 boepd. This represents a 1% increase over 2022-4Q volumes and a 10% increase over 2022-1Q volumes. The year-over-year increase reflects an increase in processing volumes last summer to 3,000 boepd. Alvopetro will be bringing two new wells to production in the next few months which could further increase sales.
Prices rise again under semi-annual price redetermination. Realized natural gas prices will increase to an expected level of $12.40/mcf (includes price redetermination and various adjustments). Redeterminations are based on a variety of factors including oil prices, gas prices, and exchange rates subject to price adjustment floors and ceilings that rise each period. New prices reflect a 3.6% increase from the previous determination. As we have discussed in the past, current redeterminations would be as high as $15/mcf absent a ceiling and will most likely continue to rise each period even if energy prices decline.
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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.
Twitter’s New Data Fees Leave Scientists Scrambling for Funding – or Cutting Research
Twitter is ending free access to its application programming interface, or API. An API serves as a software “middleman” allowing two applications to talk to each other. An API is an accessible way to collect and share data within and across organizations. For example, researchers at universities unaffiliated with Twitter can collect tweets and other data from Twitter through their API.
Starting Feb. 9, 2023, those wanting access to Twitter’s API will have to pay. The company is looking for ways to increase revenue to reverse its financial slide, and Elon Musk claimed that the API has been abused by scammers. This cost is likely to hinder the research community that relies on the Twitter API as a data source.
The Twitter API launched in 2006, allowing those outside of Twitter access to tweets and corresponding metadata, information about each tweet such as who sent it and when and how many people liked and retweeted it. Tweets and metadata can be used to understand topics of conversation and how those conversations are “liked” and shared on the platform and by whom.
This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of, Jon-Patrick Allem, Assistant Professor of Research in Population and Public Health Sciences, University of Southern California.
As a scientist and director of a research lab focused on collecting and analyzing posts from social media platforms, I have relied on the Twitter API to collect tweets pertinent to public health for over a decade. My team has collected more than 80 million observations over the past decade, publishing dozens of papers on topics from adolescents’ use of e-cigarettes to misinformation about COVID-19.
Twitter has announced that it will allow bots that it deems provide beneficial content to continue unpaid access to the API, and that the company will offer a “paid basic tier,” but it’s unclear whether those will be helpful to researchers.
Blocking Out and Narrowing Down
Twitter is a social media platform that hosts interesting conversations across a variety of topics. As a result of free access to the Twitter API, researchers have followed these conversations to try to better understand public attitudes and behaviors. I’ve treated Twitter as a massive focus group where observations – tweets – can be collected in near real time at relatively low cost.
The Twitter API has allowed me and other researchers to study topics of importance to society. Fees are likely to narrow the field of researchers who can conduct this work, and narrow the scope of some projects that can continue. The Coalition for Independent Technology Research issued a statement calling on Twitter to maintain free access to its API for researchers. Charging for access to the API “will disrupt critical projects from thousands of journalists, academics and civil society actors worldwide who study some of the most important issues impacting our societies today,” the coalition wrote.
@SMLabTO (Twitter)
The financial burden will not affect all academics equally. Some scientists are positioned to cover research costs as they arise in the course of a study, even unexpected or unanticipated costs. In particular, scientists at large research-heavy institutions with grant budgets in the millions of dollars are likely to be able to cover this kind of charge.
However, many researchers will be unable to cover the as yet unspecified costs of the paid service because they work on fixed or limited budgets. For example, doctoral students who rely on the Twitter API for data for their dissertations may not have additional funding to cover this charge. Charging for access to the Twitter API will ultimately reduce the number of participants working to understand the world around us.
The terms of Twitter’s paid service will require me and other researchers to narrow the scope of our work, as pricing limits will make it too expensive to continue to collect as much data as we would like. As the amount of data requested goes up, the cost goes up.
We will be forced to forgo data collection on some topic areas. For example, we collect a lot of tobacco-related conversations, and people talk about tobacco by referencing the behavior – smoking or vaping – and also by referencing a product, like JUUL or Puff Bar. I add as many terms as I can think of to cast a wide net. If I’m going to be charged per word, it will force me to rethink how wide a net I cast. This will ultimately reduce our understanding of issues important to society.
Difficult Adjustments
Costs aside, many academic institutions are likely to have a difficult time adapting to these changes. For example, most universities are slow-moving bureaucracies with a lot of red tape. To enter into a financial relationship or complete a small purchase may take weeks or months. In the face of the impending Twitter API change, this will likely delay data collection and potential knowledge.
Unfortunately, everyone relying on the Twitter API for data was given little more than a week’s notice of the impending change. This short period has researchers scrambling as we try to prepare our data infrastructures for the changes ahead and make decisions about which topics to continue studying and which topics to abandon.
If the research community fails to properly prepare, scientists are likely to face gaps in data collection that will reduce the quality of our research. And in the end that means a loss of knowledge for the world.
Further Evidence of his Future Outlook is Provided By “The Big Short” Michael Burry
It has been three-plus years since Michael Burry first warned that index funds’ popularity is creating distorted valuations of stocks included in the larger indexes. The reason for his warning is fund managers need to own the companies in the index. This creates buying pressure on stocks that might not otherwise be as strong of a buy candidate. In other words, investments are not being purchased on their own merit and, therefore could be thought of as overvalued. He called this the “passive investment bubble,” and he is still warning investors about a stock market investment bubble.
“Difference between now and 2000 is the passive investing bubble that inflated steadily over the last decade,” he tweeted late last year. “All theaters are overcrowded, and the only way anyone can get out is by trampling each other. And still, the door is only so big,” Burry said in October 2022. While his SEC filings show he is not opposed to owning individual stocks with a unique opportunity, he’s expecting a market collapse that dwarfs the dot-com crash because there’s so much money parked in index funds.
This week Burry provided a backup argument to his thesis in the form of a chart. The Bloomberg produced chart showed the S&P’s 40% plunge between February 2001 and October 2002. The S&P data was plotted alongside the sharp decline in the Fed Funds overnight benchmark interest rate. Burry’s latest tweet suggests a feeling of deja-vu that includes the stock market’s surge in early 2001, when rates were 6%. There seems to be concern that market participants are looking for enough weakness for the Fed to drop rates. The chart, and his written message is one to be careful what you wish for.
His tweet read, “This time is different.” This apparent sarcasm could be read, if you want lower rates, it may come at a cost.
Image: @michaeljburry (Twitter)
Burry seems to expect enough economic weakness that the Fed will again ratchet down rates in a hurry. The poor economic scenario would likely cause the S&P 500 to tumble.
Take Away
Higher rates encourage traditional savings, which then becomes money not used to stimulate the economy. It also slows growth by making borrowing more expensive. This dampens demand and increases the risk of a bad recession. Burry, a widely followed hedge fund manager has been warning of the broader market taking a huge hit.
Burry has noted that blistering but brief rallies are common during market downturns.
VANCOUVER, BC, Feb. 7, 2023 /PRNewswire/ – Defense Metals Corp. (“Defense Metals” or the “Company“; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce it has engaged SRK Consulting (Canada) Inc. (“SRK”) to commence site geotechnical investigations at its wholly owned Wicheeda Rare Earth Element (REE) Project during 2023. The Company is also pleased to announce the appointment of Mr. Kevin Weston as Wicheeda REE Project Development Coordinator.
Craig Taylor, CEO, and Director of Defense Metals stated:
“We are excited to start this new phase of development for our Wicheeda Rare Earth Project. Defense Metals is pleased to continue its relationship with SRK given their prior involvement in our positive PEA and recently completed pit slope geotechnical study. Given the rapid pace of project development, we are also very pleased to announce the appointment of Mr. Kevin Weston as Project Development Coordinator. We look forward to Kevin focusing his more than 40 years experience in mine permitting, operations, and project management on the continued development of Wicheeda; one of the best rare earth projects globally.”
SRK Geotechnical Study Details
The SRK geotechnical studies will inform the planned Wicheeda REE Project preliminary feasibility study (“PFS”) with respect to areas of geotechnical engineering, hydrology, site infrastructure, tailings facilities, geochemistry, and site water management. SRK’s work will include field investigations, including preliminary characterization of shallow soil subsurface and bedrock foundations, tasks designed to advance the PFS engineering work including preliminary characterization of shallow soil subsurface and bedrock foundations.
The work will facilitate the development of PFS level design criteria, including siting evaluation, and alternative trade-off studies focusing on technical, environmental, permitting risk and socio-economic considerations to support community and stake-holder engagement. As part of the alternatives assessment a study of surficial geology and geomorphology to identify potential geohazards, and identify potential borrow pit areas both for tailings storage facility (“TSF”) construction materials and as suitable reclamation material for mine closure is planned. In addition, rock geochemical characterization to support mine planning/waste management and to develop preliminary water chemistry predictions will be completed.
Appointment of Project Development Coordinator
Defense Metals is pleased to announce the appointment of Mr. Kevin Weston as Wicheeda REE Project Development Coordinator. Kevin Weston is a graduate of McGill University’s mining engineering program with more than 40 years of experience in mine permitting, operations, and project management. Kevin is a proven safety/environmental leader and community relations builder.
Significantly, Mr. Weston brings a wealth of prior British Columbia project development experience having been COO of JDS Silver Inc. when, between 2013 and 2017, he oversaw the engineering, successful mine permitting, and ultimately construction of the Silvertip silver-lead-zinc mine in northern British Columbia.
Mr. Weston will be instrumental in coordinating the technical, geological, engineering, environmental, socio-economic and First Nations engagement aspects of the Wicheeda REE Project in support of future project development permit applications.
Future permitting of the Wicheeda REE Project is expected to proceed through the B.C. Ministry of Energy, Mines, and Low Carbon Innovation Major Mine Permitting Office (“MMPO”) and environmental assessment (“EA”) via the BC Environmental Assessment Office (“EAO”) as required by British Columbia’s Environmental Assessment Act. B.C. has a rigorous EA process that carefully evaluates the potential environmental, economic, social, heritage and health impacts of proposed projects, as well as potential impacts to First Nations interests.
About the Wicheeda Rare Earth Element Property
Defense Metals 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE Property is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda project is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines, gas pipelines, The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.
The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report (“PEA”) outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR1. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa (“million tonnes per year”) mill throughput producing an average of 25,423 tonnes REO annually over a 16 year mine life. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.
Defense Metals and the McLeod Lake Indian Band have entered into a Mineral Exploration Agreement that establishes a framework for communication and cooperation going forward and provides current economic opportunities for the community. In addition, the agreement provides a roadmap to building a long-term and mutually beneficial relationship as the exploration activities advance.
1 Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, who is a director of Defense Metals and a “Qualified Person” (“QP”) as defined in NI 43-101. Mr. Raffle has verified the data, which included a review of the sampling, analytical and test methods underlying the data, information and opinions disclosed herein.
About Defense Metals Corp.
Defense Metals Corp. is a company focused on the development of its 100% owned Wicheeda Rare Earth Element mineral deposit, located near Prince George, British Columbia, Canada, that contains metals and elements commonly used in in green energy, aerospace, automotive and defense technologies. Rare earth elements are especially important in the production of magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
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 news release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward–looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the completion of the site geotechnical investigations by SRK, the Company’s plans for its Wicheeda REE Project, making permit applications, expected results and outcomes, plans to complete a PFS, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.
Entravision to provide support and consulting services that promote Meta’s commercial objectives of businesses in the region
SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, today announced that it will launch operations in the Icelandic market as an Authorized Sales Partner of Meta, the company that owns Facebook, Instagram and WhatsApp. Entravision will provide support, training, lines of credit and local billing to advertisers in the Icelandic market, thereby enabling them to further their business growth.
“We are excited to enter into the Icelandic market through our longstanding partnership with Meta,” said Juan Saldivar, Chief Digital, Strategy and Accountability Officer. “With the addition of Iceland to our roster, Entravision now represents the Meta platform in 14 countries. This expansion into a new region will enable us to continue promoting our mission of bringing sales and creative expertise to growing digital markets across the globe. Iceland has over 341 thousand digitally connected consumers who are hyper-users of social media. We look forward to creating more engagement opportunities leveraging Meta’s social expertise,” Saldivar concluded.
Entravision’s operations in Iceland will be spearheaded by Country Manager, Thoranna K. Jonsdottir. “We are pleased to welcome Thoranna to the team to lead our partnership with Meta in Iceland,” said Saldivar. “With over 20 years of marketing and specific digital marketing experience, she brings world class expertise and local knowledge to our entry in the region, ensuring that the support we provide is tailored to the Icelandic market,” Saldivar continued.
“This partnership reinforces Meta’s commitment to advertisers to connect brands to consumers through local strategic support, creative expertise and relevant in-market training,” said Thoranna K. Jonsdottir, Entravision’s Iceland Country Manager. “Entravision has great experience in connecting global and well-known media platforms to their customers around the world. We look forward to working with Icelandic agencies and companies to increase their business results, aided by the effective use of the Meta platform.”
The Meta ASP appointment in Iceland adds to Entravision’s long list of 14 representations of Meta around the world. For Icelandic advertisers and companies, this expertise will not only enable businesses to make the most of Meta’s platforms to increase sales growth, but also assist them in obtaining more efficient results across the Meta family of brands.
“Our program of collaboration with sales partners has been designed to bring our knowledge and experience to advertisers in countries in the region where Meta has no physical presence,” said Martin Ingemansson, Meta’s Vice President in the Nordics. “We are thrilled to bring in Entravision as a Meta Authorized Sales Partner in Iceland. We believe that with Entravision’s robust local market insights and expertise, we can provide better support to businesses and agencies locally, helping them maximize the value of their digital advertising investments and unlock their potential growth.”
About Meta
Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.
About Entravision
Entravision is a leading global advertising, media and ad-tech solutions company connecting brands to consumers by representing top platforms and publishers. Our dynamic portfolio includes digital, television and audio offerings. Digital, our largest revenue segment, comprises four business units: our digital sales representation business; Smadex, our programmatic ad purchasing platform; our branding and mobile performance solutions business; and our digital audio business. Through our digital sales representation business, we connect global media companies such as Meta, Twitter, TikTok and Spotify with advertisers in primarily emerging growth markets worldwide. Smadex is our mobile-first demand side platform, enabling advertisers to execute performance campaigns using machine learning. We also offer a branding and mobile performance solutions business, which provides managed services to advertisers looking to connect with global consumers, primarily on mobile devices, and our digital audio business provides digital audio advertising solutions for advertisers in the Americas. In addition to digital, Entravision has 49 television stations and is the largest affiliate group of the Univision and UniMás television networks. Entravision also manages 45 primarily Spanish-language radio stations that feature nationally recognized, Emmy award-winning talent. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn.
Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.
Investors: Christopher T. Young Interim Chief Executive Officer / Chief Financial Officer 310-447-3870
MELVILLE, N.Y. – February 7, 2023– Comtech (NASDAQ: CMTL) announced today that it was awarded four Very Small Aperture Terminal (VSAT) III Satellite Systems and Services task order modifications exceeding $20 million dollars, under the Global Tactical Advanced Communication Systems (GTACS) IDIQ award, to support global U.S. Army operations.
“With the convergence of space and terrestrial communications, the seamless mobility of information is paramount to maintaining strategic advantage across today’s information dominant battlespace,” said Ken Peterman, President and CEO, Comtech. “Current events illustrate the significant advantage communications technologies provide to warfighters operating across all domains. As the United States Department of Defense (DOD) continues to allocate technology resources to deter adversaries and address a wide range of geopolitical challenges, Comtech is uniquely positioned to deliver resilient, battle-proven communications capabilities that will significantly enhance information dominance, and mission effectiveness in all domain operations.”
Comtech’s portfolio of defense and security technologies are uniquely positioned to deliver capabilities that will enhance Joint All Domain Command and Control (JADC2) operations. The company has extensive experience developing and deploying customized, interoperable, robust, and resilient communications systems for all branches of the DOD and coalition forces. Comtech’s expansive portfolio of defense and security technologies is designed to continuously evolve over time to meet emerging Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) use cases and enhance mission effectiveness in future all domain command and control operations.
About Comtech
Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions.For more information, please visit www.comtech.com.
Forward-Looking Statements
Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.
