Kratos Receives $13.2 Million in C5ISR System Product Awards


Kratos Receives $13.2 Million in C5ISR System Product Awards

 

SAN DIEGO
Sept. 27, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Command, Control, Communication, Computing, Combat System, Intelligence, Surveillance and Reconnaissance (C5ISR) Business recently received approximately 
$13.2 million in program awards, including for a large 
U.S. National Security Program.  Kratos C5ISR business provides specialized manufacturing, products and solutions for critical National Security priorities and programs, including Nuclear Deterrence, Missile Defense, Radar, High Power Directed Energy, Unmanned Aerial Drone System, Space and Satellite Communication and CBRNE.  Work under these recent contract awards will be performed at secure Kratos manufacturing and customer facilities.  Due to customer, competitive, security related and other considerations, no additional information will be provided related to these recent contract awards.

Tom Mills, President of Kratos C5ISR Division, said, “Our entire organization is focused on providing the highest quality products, systems and solutions in support of United States National Security, the Warfighter and their Mission, delivering on schedule and on budget.  We are honored to have been chosen to support these priority National Security programs.”

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Aurania Intersects Silver-Zinc Mineralization in Hole 3 at Tiria-Shimpia


Aurania Intersects Silver-Zinc Mineralization in Hole 3 at Tiria-Shimpia

 

Toronto, Ontario, September 27, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that the third hole drilled on the 22 kilometre-long Tiria-Shimpia silver-zinc target, intersected the extension of the mineralized layer that was seen at surface.  Hole SH-003 intersected 5 metres (“m”) at a grade of 10.5 grams per tonne (“g/t”) silver and 2.5% zinc within a 31.5m thick halo of mineralization in layered sedimentary rock in the central part of the Company’s Lost Cities – Cutucu Project area (“Project”) in southeastern Ecuador.

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “We’ve finally hit significant mineralization in drill hole 3 at our Tiria-Shimpia target in the Lost Cities Project.  We have intersected the extension of mineralization exposed at surface as planned, and now we need to home in on the higher-grade parts of the system within the 22km long trend defined by metal enrichment in soil.”   

 

Details of the Mineralization Intersected in Hole SH-003

Drill hole 3 at Tiria-Shimpia was planned to intersect a layer of fracture-controlled mineralization that geological mapping at surface showed to be 20m wide and over 800m long – layer “P” in the Press Release dated April 12, 2021.  The top of the targeted layer of crackle-brecciated limestone was intersected at a depth of 35m down-hole, and mineralization occurs over 29m at a grade of 3.5g/t silver and 0.6% zinc, that contains the higher-grade interval of 5m at 10.5g/t silver and 2.5% zinc.

The crackle-brecciated limestone is sandwiched between layers of sandstone.  Pathfinder elements such as naturally-occurring arsenic, cadmium, mercury and strontium are closely related with the silver-zinc.  The whole limestone-sandstone sequence in which the mineralization occurs, shows illite clay alteration.

The sandstone is likely to have provided the permeable layers along which the mineralizing fluids flowed – providing the access required for the fluids to react with the limestone and deposit the metals.  The presence of the alteration mineral illite, indicates that the mineral-bearing fluids had a temperature of 200° to 300°C.

Hole 3 was drilled approximately 2km to the north of where holes SH-001 and SH-002 were drilled (Figure 1).  A total of 1,018 metres has been drilled in the three holes completed at Tiria-Shimpia.

The field team undertaking the silver-zinc exploration is comparing geological information observed in the drill core with their mapping at surface to determine the geometry of the system.  Soil geochemistry and MobileMT data are being incorporated into this focus on refining the target for higher-grade mineralization.  Additional drill sites will be selected from this on-going work.

Update on Scout Drilling at Tsenken N1

Drilling at hole 7 (TSN1-007) at the Company’s Tsenken N1 sediment-hosted copper-silver target has been completed and results are awaited.  Drilling at hole 8 has been started.

Figure 1.  Map of the north-central part of Tiria-Shimpia showing zinc grades in outcrop relative to silver in soil, and the positions of drill holes SH-001 to SH-003.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200 gram (“g”) split was set aside for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS.  For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc.  Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

richard.spencer@aurania.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 release.

 

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, 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, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Gevo Awarded Patent for Process to Upgrade or Convert Ethanol and Bio-based Alcohols to Drop-In Hydrocarbon Fuels


Gevo Awarded Patent for Process to Upgrade or Convert Ethanol and Bio-based Alcohols to Drop-In Hydrocarbon Fuels

 

ENGLEWOOD, Colo., Sept. 27, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced that it has received a patent from the United States Patent and Trademark Office (“USPTO”) for a process that encompasses upgrading ethanol and bio-based alcohols into drop-in, bio-based diesel and jet-fuel products.

The USPTO has awarded Gevo U.S. Patent No. 11,078,433 titled “Conversion of Mixtures of C -C Olefins to Jet Fuel and/or Diesel Fuel in High Yield from Bio-Based Alcohols.” The patented process establishes a new technology and route to hydrocarbons that did not previously exist. This creates an opportunity for Gevo to diversify ethanol production to help meet increasing demand for renewable diesel and jet fuel.


Securing the patent falls in line with Gevo’s business model to develop, apply, and scale technology that can be used to produce drop-in hydrocarbon fuels. These fuels, when coupled with Gevo’s integrated-systems approach that includes regenerative agriculture and non-fossil-based renewable energy, could produce net-zero greenhouse gas (GHG) emissions over the lifecycle of the product.

“We have been working on the conversion of alcohols into hydrocarbons for many years. Ethanol, when produced using renewable energy in combination with other sustainable practices, could be a good feedstock. The technology in this patent is different from what others have done in that it provides high yields of quality diesel fuel, and can also produce SAF if we want,” says Dr. Patrick Gruber, Chief Executive Officer of Gevo. “We are believers in the ‘net-zero’ approach. We need to account for carbon and related emissions across the whole of the business system. We must pay attention to the source of renewable carbon and the energy involved with manufacturing fuel products. But that alone isn’t enough. We also have to pay attention to additional key sustainability attributes in the business system, like agricultural practices, land use, protein production, water, and all the rest. From our work on Net-Zero 1, we have a deep conviction that net-zero hydrocarbons are possible and commercially viable. We need to work to further decarbonize ethanol.”

“This patent covers technology that has the flexibility to make quality renewable diesel fuel or jet fuel from ethanol in a simple catalytic process. Producing renewable diesel makes sense in some regions of the world, whereas in others, producing high levels of jet fuel might be the right economic answer. There is a lot of overlap in the production technology used for the conversion of ethanol or isobutanol to hydrocarbons, so it shouldn’t surprise anyone that we would broaden our scope,” commented Dr. Paul Bloom, Chief Carbon and Innovation Officer of Gevo. “The combination of using decarbonized, plant-based alcohols, with our proprietary innovations to processing techniques known in the chemical industry can be a very powerful approach to dial-in the desired renewable hydrocarbon fuel product mix.

Gevo believes the grant of this patent adds additional value to the company’s intellectual property portfolio, which has previously been valued at greater than $400 million by Peak Value IP LLC in 2020.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, Gevo’s patent awards, Gevo’s patent portfolio, Gevo’s technology, Gevo’s products, the value of Gevo’s patents, Gevo’s ability to produce products with a “net-zero” greenhouse gas footprint, Gevo’s plans and strategy, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

Palladium One To Host Town Hall Meeting September 28, 2021


Palladium One To Host Town Hall Meeting September 28, 2021

 

September 27, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce that it will host a Town Hall Meeting on Tuesday, September 28 at 11:00 am EST.

Derrick Weyrauch, President and CEO of Palladium One Mining Inc. will be providing shareholders and interested investors with a corporate overview and details regarding the recently announced exploration results and planned activities. The presentation will be followed by a live question-and-answer session where participants will be able to ask any questions they may have of management.

To register for the Town Hall Meeting, please click this link or paste it into your browser:
https://www.bigmarker.com/ftmig1/Town-Hall-Webinar-with-Palladium-One-Mining?utm_bmcr_source=PDM

About Palladium One
Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on established NI 43-101 open pit Mineral Resources.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact: Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Source: Palladium One Mining Inc.

Michael Burry’s Tweet and Delete


Michael Burry is Tweeting About the Markets and His Subpoena

 

About three times a year, I click to re-follow Dr. Michael Burry’s Twitter account. This is because he deletes his account about three times a year after tweeting something that I suspect he regrets. Recently the hedge fund manager that shorted the mortgage market before the financial crisis of 2008 has been tweeting and deleting up a storm. The topics are GameStop (GME), and general market and economic perceptions.

Market Tweets

In a recent flurry of tweets, he wrote the current market boom reminds him of the dot-com bubble. He compared the options-trading frenzy to the rampant speculation that helped cause the Great Depression. These tweets have since been deleted, presumably by Burry.

Burry also repeated his expectations related to index investing that he first presented openly two years ago. That is, index funds are in a bubble of sorts as demand for weak companies is increased by the larger and stronger components, meanwhile, there is little fundamental analysis to investing in indexes as opposed to individual stocks.

Burry tweeted a link to a research paper dated June of 2021 about inelastic markets. The research demonstrated that the US stock market’s value rose by $5 for every $1 invested in it. The famous hedge fund manager that runs Scion Asset Management noted the majority of millennials use passive vehicles such as index funds to buy stocks. This could further stretch prices without proper evaluation. Burry wrote, “That 5:1 ratio will get much, much sillier in time,” adding that the imbalance is a “product of a paradigm.”

Again, related to the overall market, the hedge fund manager compared the bull market during the 15 years that lead to 2000 to the growth in valuations in stocks over the past 15 years. He highlighted a 94% correlation between the Nasdaq 100’s performance in each of those periods and a 95% correlation for the S&P 500 index.

Michael Burry warned that the US stock market is risky and accused the Federal Reserve of misleading investors.  He said he was not investing in America’s largest technology companies.

The Scion founder and investment officer drew a parallel between the surge in people trading options on meme stocks and the widespread speculation that preceded the Wall Street Crash of 1929. He showed parallels to an article about the options mania with a quote by a statistician named Leroy Peavey in November 1929. Peavey blamed the market crash that year on a wave of leveraged speculation that pulled in “elevator boys, typewriter girls, and even schoolchildren.”

 

GameStop Tweet

While best known for his market shorts and portrayal in the book/movie The Big
Short,
 he also was instrumental in bringing to light the potential of the GameStop short squeeze, which set off trading activity that caught many professionals off-guard. Related to recent events related to his investigations surrounding meme stock trading, Burry wrote, “So, who got an SEC subpoena over $GME? Actually, I know who, they’re on my subpoena. With all that’s going on in the world…” Burry tweeted in a now-deleted post on Friday. He attached a copy of the SEC letter dated Sept. 21. 

The hedge fund manager had been trading GameStop shares and publicly commenting on the meme stock for the past few years. At the end of 2018, Burry first revealed a $6.8 million position in the video game retailer. In 2019 he told Barron’s that new consoles from Microsoft and Sony would “extend GameStop’s life significantly,” which fueled a rally in the shares. However, when the massive GameStop short squeeze shocked Wall Street in January, Burry turned into a vocal critic of the stock, saying the trading in GameStop is “unnatural, insane, and dangerous” and there should be “legal and regulatory repercussions.”

 

Take-Away

Burry has been sounding alarm bells over Twitter and in interviews with Bloomberg for a couple of years. He’s warned of overvalued stocks dragged up by investors investing in market indexes rather than individually selecting stocks, he’s highlighted unsustainable levels of speculation in meme stocks, cryptocurrencies, and other assets and suggested it could lead to the “mother of all crashes.”

 

Paul
Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



Michael Burry vs Cathie Wood is Not an Even Competition



Is the Index Bubble Michael Burry Warned About Still Looming?





Should Investors Listen to Influencers?



You Can Own a Piece of r/wallstreetbets

 

 

Sources:

https://twitter.com/MichaelJBurryMD

https://www.barrons.com/articles/big-short-investor-michal-burry-is-now-long-gamestop-51566424832

https://markets.businessinsider.com/news/stocks/big-short-michael-burry-warns-stocks-options-dotcom-bubble-crash-2021-9#:~:text=Michael%20Burry%20said%20the%20current,Invest%20as%20of%20June%2030.

https://www.nber.org/papers/w28967

https://www.cnbc.com/2021/01/27/hedge-fund-targeted-by-reddit-board-melvin-capital-closed-out-of-gamestop-short-position-tuesday.html

 

Stay up to date. Follow us:

 

Michael Burrys Tweet and Delete


Michael Burry is Tweeting About the Markets and His Subpoena

 

About three times a year, I click to re-follow Dr. Michael Burry’s Twitter account. This is because he deletes his account about three times a year after tweeting something that I suspect he regrets. Recently the hedge fund manager that shorted the mortgage market before the financial crisis of 2008 has been tweeting and deleting up a storm. The topics are GameStop (GME), and general market and economic perceptions.

Market Tweets

In a recent flurry of tweets, he wrote the current market boom reminds him of the dot-com bubble. He compared the options-trading frenzy to the rampant speculation that helped cause the Great Depression. These tweets have since been deleted, presumably by Burry.

Burry also repeated his expectations related to index investing that he first presented openly two years ago. That is, index funds are in a bubble of sorts as demand for weak companies is increased by the larger and stronger components, meanwhile, there is little fundamental analysis to investing in indexes as opposed to individual stocks.

Burry tweeted a link to a research paper dated June of 2021 about inelastic markets. The research demonstrated that the US stock market’s value rose by $5 for every $1 invested in it. The famous hedge fund manager that runs Scion Asset Management noted the majority of millennials use passive vehicles such as index funds to buy stocks. This could further stretch prices without proper evaluation. Burry wrote, “That 5:1 ratio will get much, much sillier in time,” adding that the imbalance is a “product of a paradigm.”

Again, related to the overall market, the hedge fund manager compared the bull market during the 15 years that lead to 2000 to the growth in valuations in stocks over the past 15 years. He highlighted a 94% correlation between the Nasdaq 100’s performance in each of those periods and a 95% correlation for the S&P 500 index.

Michael Burry warned that the US stock market is risky and accused the Federal Reserve of misleading investors.  He said he was not investing in America’s largest technology companies.

The Scion founder and investment officer drew a parallel between the surge in people trading options on meme stocks and the widespread speculation that preceded the Wall Street Crash of 1929. He showed parallels to an article about the options mania with a quote by a statistician named Leroy Peavey in November 1929. Peavey blamed the market crash that year on a wave of leveraged speculation that pulled in “elevator boys, typewriter girls, and even schoolchildren.”

 

GameStop Tweet

While best known for his market shorts and portrayal in the book/movie The Big
Short,
 he also was instrumental in bringing to light the potential of the GameStop short squeeze, which set off trading activity that caught many professionals off-guard. Related to recent events related to his investigations surrounding meme stock trading, Burry wrote, “So, who got an SEC subpoena over $GME? Actually, I know who, they’re on my subpoena. With all that’s going on in the world…” Burry tweeted in a now-deleted post on Friday. He attached a copy of the SEC letter dated Sept. 21. 

The hedge fund manager had been trading GameStop shares and publicly commenting on the meme stock for the past few years. At the end of 2018, Burry first revealed a $6.8 million position in the video game retailer. In 2019 he told Barron’s that new consoles from Microsoft and Sony would “extend GameStop’s life significantly,” which fueled a rally in the shares. However, when the massive GameStop short squeeze shocked Wall Street in January, Burry turned into a vocal critic of the stock, saying the trading in GameStop is “unnatural, insane, and dangerous” and there should be “legal and regulatory repercussions.”

 

Take-Away

Burry has been sounding alarm bells over Twitter and in interviews with Bloomberg for a couple of years. He’s warned of overvalued stocks dragged up by investors investing in market indexes rather than individually selecting stocks, he’s highlighted unsustainable levels of speculation in meme stocks, cryptocurrencies, and other assets and suggested it could lead to the “mother of all crashes.”

 

Paul
Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



Michael Burry vs Cathie Wood is Not an Even Competition



Is the Index Bubble Michael Burry Warned About Still Looming?





Should Investors Listen to Influencers?



You Can Own a Piece of r/wallstreetbets

 

 

Sources:

https://twitter.com/MichaelJBurryMD

https://www.barrons.com/articles/big-short-investor-michal-burry-is-now-long-gamestop-51566424832

https://markets.businessinsider.com/news/stocks/big-short-michael-burry-warns-stocks-options-dotcom-bubble-crash-2021-9#:~:text=Michael%20Burry%20said%20the%20current,Invest%20as%20of%20June%2030.

https://www.nber.org/papers/w28967

https://www.cnbc.com/2021/01/27/hedge-fund-targeted-by-reddit-board-melvin-capital-closed-out-of-gamestop-short-position-tuesday.html

 

Stay up to date. Follow us:

 

QuickChek – September 27, 2021



Kratos Receives $13.2 Million in C5ISR System Product Awards

Kratos announced that its Command, Control, Communication, Computing, Combat System, Intelligence, Surveillance and Reconnaissance (C5ISR) Business recently received approximately $13.2 million in program awards

Research, News & Market Data on Kratos



Aurania Intersects Silver-Zinc Mineralization in Hole 3 at Tiria-Shimpia

Aurania Resources announced that the third hole drilled on the 22 kilometre-long Tiria-Shimpia silver-zinc target, intersected the extension of the mineralized layer that was seen at surface

Research, News & Market Data on Aurania Resources

Watch recent presentation from Aurania Resources



Gevo Awarded Patent for Process to Upgrade or Convert Ethanol and Bio-based Alcohols to Drop-In Hydrocarbon Fuels

Gevo announced that it has received a US patent for a process that encompasses upgrading ethanol and bio-based alcohols into drop-in, bio-based diesel and jet-fuel products

Research, News & Market Data on Gevo

Watch recent presentation from Gevo



Palladium One To Host Town Hall Meeting September 28, 2021

Palladium One Mining announced that it will host a Town Hall Meeting on Tuesday, September 28 at 11:00 am EST

Research, News & Market Data on Palladium One

Watch recent presentation from Palladium One

 

Stay up to date. Follow us:

 

Release – Palladium One To Host Town Hall Meeting September 28 2021


Palladium One To Host Town Hall Meeting September 28, 2021

 

September 27, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce that it will host a Town Hall Meeting on Tuesday, September 28 at 11:00 am EST.

Derrick Weyrauch, President and CEO of Palladium One Mining Inc. will be providing shareholders and interested investors with a corporate overview and details regarding the recently announced exploration results and planned activities. The presentation will be followed by a live question-and-answer session where participants will be able to ask any questions they may have of management.

To register for the Town Hall Meeting, please click this link or paste it into your browser:
https://www.bigmarker.com/ftmig1/Town-Hall-Webinar-with-Palladium-One-Mining?utm_bmcr_source=PDM

About Palladium One
Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on established NI 43-101 open pit Mineral Resources.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact: Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Source: Palladium One Mining Inc.

Release – Gevo Awarded Patent for Process to Upgrade or Convert Ethanol and Bio-based Alcohols to Drop-In Hydrocarbon Fuels


Gevo Awarded Patent for Process to Upgrade or Convert Ethanol and Bio-based Alcohols to Drop-In Hydrocarbon Fuels

 

ENGLEWOOD, Colo., Sept. 27, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced that it has received a patent from the United States Patent and Trademark Office (“USPTO”) for a process that encompasses upgrading ethanol and bio-based alcohols into drop-in, bio-based diesel and jet-fuel products.

The USPTO has awarded Gevo U.S. Patent No. 11,078,433 titled “Conversion of Mixtures of C -C Olefins to Jet Fuel and/or Diesel Fuel in High Yield from Bio-Based Alcohols.” The patented process establishes a new technology and route to hydrocarbons that did not previously exist. This creates an opportunity for Gevo to diversify ethanol production to help meet increasing demand for renewable diesel and jet fuel.


Securing the patent falls in line with Gevo’s business model to develop, apply, and scale technology that can be used to produce drop-in hydrocarbon fuels. These fuels, when coupled with Gevo’s integrated-systems approach that includes regenerative agriculture and non-fossil-based renewable energy, could produce net-zero greenhouse gas (GHG) emissions over the lifecycle of the product.

“We have been working on the conversion of alcohols into hydrocarbons for many years. Ethanol, when produced using renewable energy in combination with other sustainable practices, could be a good feedstock. The technology in this patent is different from what others have done in that it provides high yields of quality diesel fuel, and can also produce SAF if we want,” says Dr. Patrick Gruber, Chief Executive Officer of Gevo. “We are believers in the ‘net-zero’ approach. We need to account for carbon and related emissions across the whole of the business system. We must pay attention to the source of renewable carbon and the energy involved with manufacturing fuel products. But that alone isn’t enough. We also have to pay attention to additional key sustainability attributes in the business system, like agricultural practices, land use, protein production, water, and all the rest. From our work on Net-Zero 1, we have a deep conviction that net-zero hydrocarbons are possible and commercially viable. We need to work to further decarbonize ethanol.”

“This patent covers technology that has the flexibility to make quality renewable diesel fuel or jet fuel from ethanol in a simple catalytic process. Producing renewable diesel makes sense in some regions of the world, whereas in others, producing high levels of jet fuel might be the right economic answer. There is a lot of overlap in the production technology used for the conversion of ethanol or isobutanol to hydrocarbons, so it shouldn’t surprise anyone that we would broaden our scope,” commented Dr. Paul Bloom, Chief Carbon and Innovation Officer of Gevo. “The combination of using decarbonized, plant-based alcohols, with our proprietary innovations to processing techniques known in the chemical industry can be a very powerful approach to dial-in the desired renewable hydrocarbon fuel product mix.

Gevo believes the grant of this patent adds additional value to the company’s intellectual property portfolio, which has previously been valued at greater than $400 million by Peak Value IP LLC in 2020.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, Gevo’s patent awards, Gevo’s patent portfolio, Gevo’s technology, Gevo’s products, the value of Gevo’s patents, Gevo’s ability to produce products with a “net-zero” greenhouse gas footprint, Gevo’s plans and strategy, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

Release – Aurania Intersects Silver-Zinc Mineralization in Hole 3 at Tiria-Shimpia


Aurania Intersects Silver-Zinc Mineralization in Hole 3 at Tiria-Shimpia

 

Toronto, Ontario, September 27, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that the third hole drilled on the 22 kilometre-long Tiria-Shimpia silver-zinc target, intersected the extension of the mineralized layer that was seen at surface.  Hole SH-003 intersected 5 metres (“m”) at a grade of 10.5 grams per tonne (“g/t”) silver and 2.5% zinc within a 31.5m thick halo of mineralization in layered sedimentary rock in the central part of the Company’s Lost Cities – Cutucu Project area (“Project”) in southeastern Ecuador.

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “We’ve finally hit significant mineralization in drill hole 3 at our Tiria-Shimpia target in the Lost Cities Project.  We have intersected the extension of mineralization exposed at surface as planned, and now we need to home in on the higher-grade parts of the system within the 22km long trend defined by metal enrichment in soil.”   

 

Details of the Mineralization Intersected in Hole SH-003

Drill hole 3 at Tiria-Shimpia was planned to intersect a layer of fracture-controlled mineralization that geological mapping at surface showed to be 20m wide and over 800m long – layer “P” in the Press Release dated April 12, 2021.  The top of the targeted layer of crackle-brecciated limestone was intersected at a depth of 35m down-hole, and mineralization occurs over 29m at a grade of 3.5g/t silver and 0.6% zinc, that contains the higher-grade interval of 5m at 10.5g/t silver and 2.5% zinc.

The crackle-brecciated limestone is sandwiched between layers of sandstone.  Pathfinder elements such as naturally-occurring arsenic, cadmium, mercury and strontium are closely related with the silver-zinc.  The whole limestone-sandstone sequence in which the mineralization occurs, shows illite clay alteration.

The sandstone is likely to have provided the permeable layers along which the mineralizing fluids flowed – providing the access required for the fluids to react with the limestone and deposit the metals.  The presence of the alteration mineral illite, indicates that the mineral-bearing fluids had a temperature of 200° to 300°C.

Hole 3 was drilled approximately 2km to the north of where holes SH-001 and SH-002 were drilled (Figure 1).  A total of 1,018 metres has been drilled in the three holes completed at Tiria-Shimpia.

The field team undertaking the silver-zinc exploration is comparing geological information observed in the drill core with their mapping at surface to determine the geometry of the system.  Soil geochemistry and MobileMT data are being incorporated into this focus on refining the target for higher-grade mineralization.  Additional drill sites will be selected from this on-going work.

Update on Scout Drilling at Tsenken N1

Drilling at hole 7 (TSN1-007) at the Company’s Tsenken N1 sediment-hosted copper-silver target has been completed and results are awaited.  Drilling at hole 8 has been started.

Figure 1.  Map of the north-central part of Tiria-Shimpia showing zinc grades in outcrop relative to silver in soil, and the positions of drill holes SH-001 to SH-003.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200 gram (“g”) split was set aside for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS.  For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc.  Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

richard.spencer@aurania.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 release.

 

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, 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, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Release – Kratos Receives $13.2 Million in C5ISR System Product Awards


Kratos Receives $13.2 Million in C5ISR System Product Awards

 

SAN DIEGO
Sept. 27, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Command, Control, Communication, Computing, Combat System, Intelligence, Surveillance and Reconnaissance (C5ISR) Business recently received approximately 
$13.2 million in program awards, including for a large 
U.S. National Security Program.  Kratos C5ISR business provides specialized manufacturing, products and solutions for critical National Security priorities and programs, including Nuclear Deterrence, Missile Defense, Radar, High Power Directed Energy, Unmanned Aerial Drone System, Space and Satellite Communication and CBRNE.  Work under these recent contract awards will be performed at secure Kratos manufacturing and customer facilities.  Due to customer, competitive, security related and other considerations, no additional information will be provided related to these recent contract awards.

Tom Mills, President of Kratos C5ISR Division, said, “Our entire organization is focused on providing the highest quality products, systems and solutions in support of United States National Security, the Warfighter and their Mission, delivering on schedule and on budget.  We are honored to have been chosen to support these priority National Security programs.”

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Euroseas (ESEA) – Solid Visibility Drives Price Target Increase

Monday, September 27, 2021

Euroseas (ESEA)
Solid Visibility Drives Price Target Increase

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. As of March 31, 2017, it had a fleet of seven containerships; and six drybulk carriers, including three Panamax drybulk carriers, one Handymax drybulk carrier, one Kamsarmax drybulk carrier, and one Ultramax drybulk carrier. The company was founded in 2005 and is based in Maroussi, Greece.

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

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

    Container market remains firm and upcoming fixtures should be favorable. While the short charter secured on the Oakland intermediate at a rate of at least $195k/day appears extraordinary, the container market remains firm despite a rising order book and Contex rates have moved higher. The recent charters on the Oakland, Jonathan P and Diamantis P are good examples of a strong container market.

    No change in 2021 EBITDA estimate of $55.1 million based on TCE rates of $18.9k/day.  The Oakland intermediate should roll to the new TCE rate in late October and our 4Q2021 EBITDA estimate of $25.3 million is based on a TCE rate of $28.5k/day. Forward cover is very higher and only 9% of 4Q2021 available days are open …



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. 

Crypto for Marijuana Transactions


Image Credit: Jurrasic Blueberries (Flickr)

The Synergistic Effects of Crypto on Cannabis Businesses

 

The rapid changes in both cryptocurrency acceptance and marijuana acceptance have been mind-numbingly quick over the past two years. Both still have legal and regulatory hurdles preventing adoption and usage without pitfalls and landmines for the businesses or users. Interestingly, some of these trouble spots can be more easily overcome by transacting in cryptocurrency.

A Pitfall for Marijuana Businesses

The business of selling psychoactive cannabis products, whether for medical use or recreational, is against federal law. Banks are federally regulated, which is why they resist providing services in a way that would be a key component to a federal offense. This prevents many traditional financial arrangements between suppliers and customers of these businesses. Imagine being a thriving business not able to go to the bank for a loan to finance inventory or expand. Perhaps more serious is the safety of employees as all-cash businesses are targets for crime – at times a deadly crime.

A Pitfall of Cryptocurrencies

Price volatility, tied to a lack of inherent value, is a problem for digital currencies not tied to the value of anything specific. It’s an important concern, but one that can be overcome by linking currency to a more standard measure. Gold, silver, and oil have been used in the past to back paper currency. Standard units with more stable values can help support and stabilize cryptos.

Synergies and Interactions

The problem of safety and non-cash transactions for marijuana, and the beneficial impact of coupling a measurable and largely standardized product to a digital coin has lead to the development of marijuana-specific virtual currencies. Cryptocurrencies can provide an easier path than $USD for people in the marijuana industry. A digital currency can also make it easier for consumer transactions. As far as a budtender leaving the dispensary to make a cash deposit, this can be done electronically with a cryptocurrency, eliminating that safety concern.

There are a few coins specific to the cannabis business, each with different traits. Outlined below are four with readily available information available related to their usage.  

CannabisCoin (CANN.x) has been active since 2014. The architecture is a proof-of-work, peer-to-peer open-source currency aimed at easing transactions for medical marijuana dispensaries.

Functionally, CANN.x pledges to convert cryptocurrency directly into marijuana. Under the name CANNdy, there is a line of medicines and marijuana strains grown for the specific purpose of exchange at the rate of 1 CannabisCoin to 1 gram of medication.

 The total supply of CannabisCoin is set at 91.8 million, with over 77 million in circulation. The currency’s value in circulation was $1.30m as of September 24, 2021, according to Coinbase.

DopeCoin (DOPE.x) founded by a man whose nickname is Dopey, has been active since 2014. This currency is more private, so far less is known about the specific markets the currency serves except that its “mission is to provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century.”

According to its website, DOPE.x users can transact pseudo-anonymously in under a minute and don’t pay any fees or transaction costs.

DopeCoin supply is limited, with about 117 million units in circulation. It is also a proof-of-stake currency, giving investors a chance to earn 5% in annual interest. The currency has a value in circulation of $299.5k as of September 24, according to Coinbase.

HempCoin (THC.x) also came into existence in 2014, although its focus is less on individuals using it to buy product. Instead, this cryptocurrency is intended for use by the farming industry and medical and recreational dispensaries. The THC.x website says its goal is to “help facilitate secure transactional relationships between farmers, distributors, and consumers.”

HempCoin has been used in all areas of agriculture, not just those involving marijuana. As of September 24, the price for one HempCoin was $0.0102, and its value in circulation was $2.7m.

PotCoin (POT.x) launched in January 2014 and was one of the earliest cryptocurrencies for the marijuana industry. It was designed to solve banking problems for people looking to transact in legal marijuana. Trading of PotCoin is direct between people; there is no exchange or clearinghouse. The creators wanted to capitalize on Colorado’s legalization of marijuana and went as far as installing a PotCoin automated teller machine (ATM) at a dispensary in Colorado.

The currency got off to a very sluggish start but became known and more popular when in June 12, 2017. A press release and a video of former NBA star Dennis Rodman wearing a PotCoin.com T-shirt in North Korea provided PotCoin popularity and recognition. They funded Rodman’s trip, which may have paid off as the MJ-based crypto value approximately doubled in just one day.

As of September 24, its value in circulation was about $3.8 million—a big jump from $81,547 at the start of February 2014. One PotCoin was worth $0.0167 on September 24. The coin is up about 70% year-to-date.

The supply of PotCoin is limited to 420 million coins. More than 226 million are in circulation. It trades on three markets and is proof-of-stake, which allows people to mine or validate block transactions according to the number of coins they hold. An important differentiator, PotCoin claims transaction speeds of 40 seconds.

Take-Away

The challenges for blockchain-derived cryptocurrencies and those inherent in marijuana transactions have brought the two industries together to find solutions. Some of these have been in practice for seven years with mixed results.

Until a softening of federal regulations around marijuana occur, crypto is one solution to one of the pitfalls of the business. For digital currencies that derive value from the units of cannabis they can purchase, there is a set range of volatility when tied to a product that is becoming more and more standardized. This is why for the past seven years, MJ-based businesses and consumers can use marijuana-specific cryptocurrencies to transact and get around some banking issues.

 

Suggested Reading:



Severe Punishment for All Things Crypto in China -Who’s Impacted?



Will Federal Law Surrounding Cannabis be Changed?





Apple’s Marijuana Decision Will Lead to Many Critical Decisions for Investors



Cannabis Customers Served by the Ice Cream Truck Delivery Model

 

 

Sources:

https://www.prescouter.com/2019/11/disadvantages-of-cryptocurrencies/

https://thecancoin.com/

https://www.prescouter.com/2017/11/next-generation-cryptocurrencies/

https://www.potcoin.com/

https://dopecoin.com/

https://hempcoin.org/

https://www.youtube.com/watch?v=pOo2S7zM2rM

www.Potcoin.com

 

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