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Senate Marijuana Bill Expected Before Summer Break

Posted on by Admin 



Image Credit: Office of Public Affairs (Flickr)


Senate Version of Marijuana Legalization Bill May be Unveiled in Coming Days

Investors in marijuana stocks may be given something to lift their spirits prior to Congress’s summer recess. There are reports that senators will finally introduce the Cannabis Administration and Opportunity Act (CAOA) bill. The House of Representatives has already introduced and passed its own version to legalize marijuana nationally. The Senate bill is expected to be somewhat more restrictive and have other small differences; both bills contain what the authors view as social justice measures.

It’s been a year since Senate Majority Leader Chuck Schumer (NY), Senate Finance Committee Chairman Ron Wyden (OR) and Sen. Cory Booker (NJ) first released a draft version of CAOA detailing proposed legislation to end federal cannabis prohibition. Senator Schumer has reported that the final bill to be voted on will be made public the last week in July.

There is a push to introduce the Senate’s bill ahead of the August recess (August 8 – September 5).

The final introduction of the CAOA has had many delays as the sponsors have worked to build in what they deem important while trying to move forward with something with bipartisan support. One expected aspect is that Senator Schumer has wanted the CAOA to specifically seek to build barriers so large alcohol and tobacco companies so they can’t easily overtake the industry.

Any change in details to the bill since it was first released last year is still not public. But it’s expected to place importance on removing cannabis from the Controlled Substances Act, impose a federal tax on marijuana sales, favor groups that have been hurt by what are seen as harsh laws, and provide a path to relief for those who have faced federal cannabis convictions.

Once the measure is introduced, its road to passage is still not straightforward. The measure would require a 60-vote threshold to pass in the Senate. While the bill is expected to have bipartisan support, the more conservative senators may be inclined to vote the bill down. Currently, there are senators from each of the major political parties that are non-committal.

Senator Schumer seems intent on bringing the bill to the floor for a vote. If it passes, the House of Representatives and the Senate would likely meet to work out differences between the
versions. If they agree on one piece of legislation, they then hope the president signs it into law.

The year-long push by Senate leadership to get the legalization bill to the floor has frustrated businesses, banks, patients, and some states that have wanted to see the reform move quickly. Without approval on the national level, states may legalize cannabis products, but entities that rely on Federal charters, such as banks and even the Post Office, put themselves at risk if they do business within any part of the industry that is unlawful on the federal level.

There are serious questions about the prospects of passing any broad legalization bill in the current congressional climate, especially given the steep Senate vote threshold. Then another looming unknown is what President Joe Biden would do if a legalization measure does ultimately arrive at his desk.

Despite supermajority support for the reform within Biden’s political party, the president has held a firm opposition to adult-use legalization. Instead, he has supported modest changes such as decriminalization, rescheduling and continuing to allow states to set their own policies.

Dr. Rahul Gupta, Director of National Drug Control Policy, sometimes called “the White House drug czar,”  recently said that the Biden administration is “monitoring” states that have legalized marijuana to inform federal policy, and recognize the failures of the current prohibitionist approach.

Paul Hoffman

Managing Editor, Channelchek

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Sources

https://www.bloomberg.com/news/articles/2022-07-14/marijuana-decriminalization-bill-teed-up-for-senate-introduction

https://www.investopedia.com/terms/s/social-justice.asp

https://thehill.com/policy/3559842-senate-democrats-to-roll-out-bill-aimed-at-decriminalizing-weed-next-week/

https://www.marijuanamoment.net/senate-marijuana-legalization-bill-could-come-next-week-but-congressional-sources-push-back-on-report-about-timeline/

https://www.marijuanamoment.net/senate-marijuana-legalization-bill-could-come-next-week-but-congressional-sources-push-back-on-report-about-timeline/

https://www.congress.gov/bill/117th-congress/house-bill/3617

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Understanding Power Grid Blackouts, Brownouts, and Solutions

Posted on by Admin 

Image Credit: Andrew Gustar (Flickr)


What is Curtailment? An Electricity Market Expert Explains

Curtailment has a special meaning in electric power systems. It describes any action that reduces the amount of electricity generated to maintain the balance between supply and demand – which is critical for avoiding blackouts.

Recently, curtailment has made news in states like California and Texas that are adding a lot of wind and solar power. On very windy or sunny days, these sources may produce more electricity than the grid can take. So grid managers reduce production to manage that oversupply.

This can be a lost opportunity. Electricity from solar and wind, as well as existing nuclear plants, is inexpensive and emits less greenhouse gases than fossil fuels, so it may be in society’s interest to keep these generators running.

A Special Kind of Surplus

Consumers know about shortages and surpluses in the goods they buy. Shortages mean that shoppers can’t get that PlayStation 5 for Christmas – or, more critically, the bread, water or baby formula they need.

Surpluses look different, like unsold books classified as remainders or Easter candy discounted 80% at local drug stores on Monday morning.

But electricity is not like these goods. On today’s electric grid, shortages and surpluses can both result in the exact same thing – a blackout.

The North American grid transmits electricity as alternating current that changes direction back and forth, like water ebbing and flowing from a vintage hand pump as the handle is pushed up and down. Modern electricity grids require precise levels of frequency – the back-and-forth motion of power – to function properly.

The grid is designed to function at 60 hertz, which means that the flow of electric current shifts back and forth 60 times per second. This is achieved, in part, by ensuring that the amount of electricity produced at any given time is equal to the amount of electricity being used. If too little electricity is produced, frequency on the system drops. If too much electricity is produced, then frequency increases.

Modern power plants are designed to operate within a relatively narrow range around 60 hertz. If the actual frequency on the grid is outside that range, the plant can disconnect itself from the system. If enough plants do that, it causes a blackout.

As the U.S. electric power industry shifts increasingly to renewable sources, the national power grid will require major updates.

Managing the Flow

In some parts of the U.S., mostly the Southeast and the West, the same companies generate electricity and deliver it to customers. When power plants in a utility’s territory generate more electricity than customers are using, the company will simply produce less electricity from its most expensive power plant, or temporarily shut it off altogether.

But other states have restructured their electricity markets so that some companies produce power and others deliver it to customers. In these competitive markets, curtailment raises complex issues. Power generators stay in business by generating and selling power, so when demand drops, grid operators need a system to ensure that they make curtailment decisions fairly.

Often the first tool for choosing which plants to curtail is the prices that generators are paid. When supply grows or demand falls, the price of electricity falls. Some generators may decide that they are unwilling to produce electricity below a certain price and drop off if it hits that level.

If there’s still a power surplus, the organization that operates the grid steps in to manually curtail generators. They can either do this through signals in the grid’s data system or by contacting generators directly through phone calls. Power may be curtailed for five minutes or five hours, depending on how quickly the system returns to normal.

Overall, the U.S. needs more low-emissions electricity to help reduce air pollution and slow climate change. So curtailment isn’t a sound long-term strategy for managing power surpluses. It’s somewhat comparable to the early days of the COVID-19 pandemic when supply chain disruptions forced producers to throw away huge quantities of food even as grocery stores struggled to fill their shelves.

One solution is to expand energy storage so that generators can save excess power for a few hours instead of sending it straight into the grid. Another option is building more transmission to carry power to areas that need it. Both types of investments can reduce the need to curtail generation and forgo making clean, affordable electricity.

This article was republished with permission permission from  The Conversation, a news site dedicated to sharing ideas from academic
experts. It represents the research-based findings and thoughts of Theodore J. Kury, Director of Energy Studies, University of Florida.


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C-Suite Interview with Labrador Gold (NKOSF)(LAB.V) President & CEO Roger Moss

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Noble Capital Markets Senior Research Analyst Mark Reichman sits down with Labrador Gold President & CEO Roger Moss

Research, News, and Advanced Market Data on NKOSF


View all C-Suite Interviews


The 2022 C-Suite Interview series is now available on major podcast platforms

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $26.5 million in working capital and is well funded to carry out the planned program. The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8 g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25 th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt. The Company has 168,889,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

Coeur Mining (CDE) – Lowering Estimates; Maintaining Outperform Rating

Posted on by Admin

Tuesday, July 19, 2022

Coeur Mining (CDE)
Lowering Estimates; Maintaining Outperform Rating

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

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

Updating estimates.  We are now forecasting 2022 adjusted EBITDA and EPS of $168.3 million and $0.01 per share, respectively, compared with our previous forecast of $182.1 million and net income of $0.02 per share. Based on lower precious metals prices, we lowered our margin expectations for the second quarter and for the remainder of the year. For 2023, we forecast EBITDA and EPS of $209.7 million and $0.15, respectively.

Second quarter financial results. Coeur Mining will report second quarter 2022 operational and financial results after the market close on August 3, 2022. Management will host a conference call for investors at 11:00 am ET on August 4, 2022. We expect key topics for the call will be: 1) the Rochester expansion, 2) Silvertip, 3) forward sale hedges, and 4) balance sheet strength. …

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. 

Release – Vera Bradley Foundation For Breast Cancer Names Stephanie Scheele Executive Director

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Vera Bradley Foundation For Breast Cancer Names Stephanie Scheele Executive Director

Research, News, and Market Data on Vera Bradley

FORT WAYNE, Ind., July 19, 2022 (GLOBE NEWSWIRE) — The Vera Bradley Foundation for Breast Cancer (the “Foundation”) today announced, after a national search, it has named Stephanie Scheele as its new Executive Director.

Scheele has held the post of Chief Purpose and Communication Officer of Vera Bradley, Inc. (the “Company”) since October 2021, responsible for the Company’s enterprise-wide environmental, social and governance (ESG) efforts, including oversight of the Vera Bradley Foundation for Breast Cancer. Scheele joined the Company in 2001 and was the driving force behind various marketing and creative initiatives during her tenure, advancing the Vera Bradley brand’s marketing to an integrated, customer-segmented, research-based approach. She was named VP, Marketing Strategy and Operations in 2015; promoted to Interim Chief Marketing Officer in 2017; and promoted to Chief Marketing Officer in 2018. Prior to joining Vera Bradley, Inc., Scheele worked for Sunrise Greetings, a subsidiary of Hallmark. Scheele has served on the Foundation Board of Directors since 2018.

“We are absolutely thrilled to name Stephanie Scheele Executive Director of the Foundation. Stephanie has served on our board and has worked tirelessly over the last several years on fundraising efforts for the Foundation,” shared Ruth Cook, Chair of the Vera Bradley Foundation Board. “Her strategic, marketing, and creative expertise coupled with her institutional knowledge of the Foundation will be instrumental as we elevate funding for life-saving research that is impacting women, men, and their loved ones worldwide.”

Since 2000, the Foundation has provided $37.5 million of funding to the Indiana University School of Medicine (“IU School of Medicine”), allowing them to amass the talent, technology, and resources to become a national leader in targeted breast cancer therapies, specifically for triple negative breast cancer. In April 2022, the Foundation made an additional gift commitment of $12.5 million to IU School of Medicine, bringing the non-profit’s total commitment to breast cancer research to $50 million. The Foundation’s ongoing support led to the 2018 creation of the Vera Bradley Foundation Center for Breast Cancer Research at the Indiana University Melvin and Bren Simon Comprehensive Cancer Center (the “IU Cancer Center”) where more than 30 investigators collaborate on breast cancer discoveries. In 2019, the IU Cancer Center was designated a Comprehensive Cancer Center, the highest level of recognition awarded by the National Cancer Institute for research excellence.

Scheele noted, “I am honored and excited to accept the position of Executive Director of the Foundation. I am intensely passionate about our cause and see a future where a diagnosis of breast cancer is not scary or overwhelming. The Foundation has and will continue to provide hope to countless women and men, along with their families. I am extremely grateful for each of the dedicated servant leaders at the IU Cancer Center working tirelessly to perfect therapies and for all of the donors and volunteers that make this work possible.”

ABOUT VERA
BRADLEY FOUNDATION FOR BREAST CANCER

The Vera Bradley Foundation for Breast Cancer raises funds for breast cancer research to find a cure and to improve the lives of the many affected by this disease. The Foundation has contributed $37.5 million to the Vera Bradley Foundation Center for Breast Cancer Research at the Indiana University School of Medicine and has pledged to raise an additional $12.5 million. The Center is focused on developing and dramatically improving therapies for some of the most difficult-to-treat types of breast cancer. Funds are raised through special events, partner events, and individual donations. For more information, visit www.verabradley.org.

Press Contact
Greg Jaeger
Director of Public Relations & Social Media, Vera Bradley
gjaeger@verabradley.com


Is the Strong Dollar Creating a Buying Opportunity for Gold?

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For The First Time In 20 Years, 1 Dollar = 1 Euro. What This Means For Gold

If you were considering taking the family on a European vacation, now may be a good time, as the U.S. dollar and euro just achieved parity for the first time in 20 years.

But as someone who was recently in Europe, I urge travelers to be aware that prices have skyrocketed everywhere, not just in the U.S. A five-star hotel in France or Italy that might have cost $350 a night before the pandemic can now cost as much as $1,600.

This article was republished with permission from Frank Talk, a CEO Blog by Frank Holmes
of U.S. Global Investors (GROW).
Find more of Frank’s articles here – Originally published July 18, 2022.

Much is being made about the USD/EUR exchange rate, but the truth is that King Dollar has made epic gains on a number of world currencies this year as the U.S. has embarked on an aggressive monetary tightening cycle to control inflation. Below you can see how much G-10 currencies have fallen in 2022 compared to the greenback.

A stronger dollar is favorable not only for Americans traveling abroad but also companies that pay to import goods from other countries—think big-box retailers such as Walmart, Target, Home Depot and Dollar Tree.

On the other hand, a soaring dollar can hurt U.S. exporters since it makes goods more expensive to foreign buyers, dampening demand. Between January and May of this year, the top U.S. exports by end-use included crude oil and petroleum products, mostly due to the massive increase in crude prices. Other top exports included pharmaceuticals, industrial machinery, semiconductors, automotive parts and accessories, fuel oil, automobiles, natural gas and plastic materials, according to Bureau of Economic Analysis (BEA) data. 

Boeing Reports Best Month For
Deliveries Since 2019

The single largest U.S. exporter in value terms is Boeing. The massive aerospace company, which recently moved its headquarters to Arlington, Virginia, faced a wave of order cancellations stemming from the tragic 2018/2019 crashes involving the 737 MAX, but orders look to be picking up again. As I shared with you last week, Boeing reported stellar delivery results for the second quarter, with 51
aircraft delivered in June alone. That’s the company’s best month since March 2019.

I will be curious to see if Boeing executives address the impact of the stronger dollar when the company reports second-quarter financial results later this month.

King Dollar Pushes Gold Deep
Into Oversold Territory

Among the biggest victims of King Dollar’s strength is gold, which, like most commodities, is priced in the greenback internationally. The yellow metal has long been valued as a safe haven during times of economic uncertainty and high inflation, which we’re certainly facing today. June’s consumer price index (CPI) came in at a scorching annual rate of 9.1%, the highest in over 40 years, but if we use the inflation methodology from 1980, the figure is closer to 17% or more.

Despite this, gold has steadily fallen since its 2022 high of $2,070 per ounce, set in early March. As of today, gold is off close to 7% for the year, and last week it briefly traded below $1,700 for the first time since March 2021. Based on the 14-day relative strength index (RSI), the metal looks incredibly oversold at around 23, the lowest it’s been since August 2018.

In addition, gold has signaled a “death cross,” which occurs when the 50-day moving average dips below the 200-day moving average.

Some investors and traders see this move as a bearish sign. I see it as a buying opportunity. If you believe that the dollar is overextended relative to other currencies, and that a reversal could happen in the coming weeks and months, now may be a good time to accumulate, especially if you think we’re in the midst of a recession.

Deepest Yield Inversion Since
2000

I’ve shared with you a couple of times that we may very well be in a recession already, based on the Atlanta Federal Reserve’s GDPNow real-time forecast. The latest forecast, as of last Friday, is that the U.S. economy contracted 1.5% in the second quarter, following an annual decrease of 1.6% in the first quarter.

Even if that ends up not being the case, the bond market is telling us that a pullback may be imminent.

A yield inversion occurs when the shorter-term Treasury bond trades with a higher yield than the longer-term Treasury. Remember, bond yields go up when prices go down, so when yields invert, it suggests that investors find shorter government notes riskier to hold than longer-dated ones.

Inversions have been extraordinarily accurate at predicting recessions. Going back at least 40 years, every recession has been preceded by an inverted yield curve, using the two-year and 10-year Treasuries.

Not only is the yield curve inverted right now, but it’s inverted at the biggest point since the year 2000, soon before the dotcom bubble burst.

So what does this mean? Past performance is no guarantee of future results, but we could be looking at a pullback, if not this year then the next. More specifically, stocks and other risk assets may not have found a bottom yet. From its all-time high in early January, the S&P 500 has fallen 20%, but historically it’s dropped as much as 35% on average when a bear market coincides with a recession.

Do with that information as you wish, but I believe it’s wise and prudent to have exposure to gold at this time, between 5% and 10% of your portfolio.


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US
Global Investors Disclaimer

The NYSE Arca Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the mining for gold and silver. The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. Free cash flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. Frank Holmes has been appointed non-executive chairman of the Board of Directors of HIVE Blockchain Technologies. Both Mr. Holmes and U.S. Global Investors own shares of HIVE. Effective 8/31/2018, Frank Holmes serves as the interim executive chairman of HIVE.

Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (09/30/2021): Torex Gold Resources Inc., Centerra Gold Inc., Gran Colombia Gold Corp., Dundee Precious Metals Inc., Pretium Resources Inc., Endeavour Mining PLC, Barrick Gold Corp., Eldorado Gold Corp., SSR Mining Inc., Silver Lake Resources Ltd., Karora Resources Inc.

All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content.

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Comstock Inc. (LODE) – Accelerating Decarbonization with Renewable Fuel Breakthroughs

Posted on by Admin

Tuesday, July 19, 2022

Comstock Inc. (LODE)
Accelerating Decarbonization with Renewable Fuel Breakthroughs

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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

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

Patent filing. Comstock filed for a new patent covering breakthroughs to produce renewable diesel, marine fuel, sustainable aviation fuel and gasoline from woody biomass with improved yield, efficiency, and cost compared to other methods. The patent filing represents an expansion of its intellectual property and cellulosic technology portfolio with proprietary technology advancements enabling a new sustainable feedstock capable of significantly lowering U.S. transportation emissions.

Tested and validated processes. Comstock’s new patent covers processes and compositions that have been validated at the company’s two-ton per day cellulosic fuels pilot facility, affirming that its process can simultaneously produce multiple purified bio-intermediates that are isolated and free of contaminants. Based on performance data, Comstock forecasts renewable fuel yields exceeding 80 gallons per dry ton on a gasoline equivalent basis, along with an 80% reduction in life cycle greenhouse gas emissions compared to petroleum….

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. 

Release – Comstock Pioneers Renewable Fuels Technology

Posted on by Admin



Comstock Pioneers Renewable Fuels Technology

Research, News, and Market Data on Comstock Mining

Breakthrough Unlocks Massive New Feedstock Model for Net Zero
Energy Independence

VIRGINIA
CITY, NEVADA, JULY 18, 2022 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced a significant expansion of its leading cellulosic technology portfolio by filing for a new patent covering breakthrough pathways to produce renewable diesel, marine, sustainable aviation fuel (“SAF”) and gasoline from woody biomass, at dramatically improved yield, efficiency, and cost in comparison to all known methods. These technology advancements enable a new sustainable feedstock capable of neutralizing a substantial share of current U.S. mobility emissions.

Renewable fuels provide a critical opportunity for decarbonization, however, most of the existing U.S. renewable fuel refineries draw from the same limited pool of constrained feedstocks. Comstock’s plans to decarbonize with renewable fuels involves abundant feedstocks that are not used today, enabling a vast untapped energy source with superior benefits.  

“Our new patent covers processes and compositions that have been validated at our existing two ton per day cellulosic fuels pilot facility, verifying that our process can simultaneously produce multiple purified biointermediates that are uniquely isolated and free of the contaminants that have frustrated prior attempts at commercializing cellulosic fuel technologies,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer.

Based on current performance data, Comstock projects best-in-class renewable fuel yields exceeding 80 gallons per dry ton (on a gasoline gallon equivalent basis), with lifecycle greenhouse gas emissions reductions well exceeding 80% over petroleum.

“Our performance is better than the best current processes can deliver,” added David Winsness, President of Comstock’s renewable fuels business. “We achieve those results by enabling dramatically higher yields from a far more abundant feedstock, resulting in purified biointermediates that are highly amenable to producing renewable fuels using existing infrastructure.”

Comstock’s technology unlocks vast quantities of historically unused and under-utilized feedstocks. The Department of Energy’s National Renewable Energy Lab  has published estimates that the U.S. produces up to 100 million tons per year of sawmill and forestry residuals alone. That biomass is sufficient to produce 8 billion gallons per year (“BGY”) of drop-in fuels by utilizing Comstock’s technology.  

De Gasperis concluded, “The existing U.S. refining capacity is far greater than current feedstocks can support. We believe that our expanded technology solutions, and the magnitude of feedstocks that they enable, unblock one of the most critical supply chain constraints for providing a massive renewable fuel solution across the U.S. and global mobility markets.”

About half of America’s historical forestlands were clear cut for less productive uses. Restoring and using just about a quarter of that amount, or approximately 140 million acres, to sustainably grow, harvest, and replant fast-growing trees for use in producing renewable fuels would be sufficient to permanently neutralize more than 40% of America’s mobility emissions.

About
Comstock Inc.

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Forward-Looking
Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

  Contact
information:

 

 

Comstock  Inc.
P.O. Box 1118
Virginia City, NV 89440
www.comstock.inc

Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com

Zach Spencer
Director of External Relations
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What Might be in a Portfolio Allocated for a Republican Majority in the House?

Posted on by Admin 



Image Credit: Gage Skidmore (Flickr)


Republicans Likely to Have the Majority in the House – Investors May Want to Pivot Early

Elections to the U.S. House of Representatives will be held on November 8, 2022. As of today (July 18), Democrats hold a 220-211 advantage in the U.S. House with four vacant seats. All 435 seats are up for election. Should investors reduce their Democrat-era portfolio? It’s four months away, and election forecasters and other statisticians view a return of a Democrat majority as highly unlikely. What industries and companies may benefit if next year Congress is controlled by Republicans?

 

U.S. House Election Odds

Statisticians at Five Thirty-Eight, a subsidiary of ABC News, which Disney owns, updated their models on July 18, ran it 40,000 times, and found the environment isn’t favorable toward House Democrats in the Fall. Their statistics show that the odds are only 13 in 100 that Democrats would retain control of the chamber. Empirically their data demonstrates that even if Republicans lose all seats that are considered toss-ups, along with those that they are expected to lose, the current Democrat majority will be lost.

Investment Implications

The data for the Senate is not as compelling. It shows a 47 in 100 probability of the Democrats being in control of the Senate after the elections. So the focus is not on the full branch of Congress but instead on who gets to set the agenda in the House.

Beginning in 2021, the national agenda changed dramatically. The new President, with a willing Congress, began implementing plans that focused on more open immigration, higher corporate taxes, a U.S. return to the Paris Climate Accord, reduced oil production and distribution, a more pro-union stance, prison reform, and infrastructure spending with a significant focus on shifting to non-fossil fuel energy alternatives.

Throughout 2021 we saw many industries and commodities rise in response to the planned initiatives, many of which can only be implemented with Congress’s approval.

Change brings opportunity and also missed the opportunity.

Whether one’s ideology supports a change or not is usually secondary to investors. Minimizing holdings in positions most likely to lose ground, and within one’s own sense of socially responsible investing, overweighting in positions that may, over time, strengthen is considered prudent.


Below the Radar

One challenge with investing when change may be afoot is not being the last in the door. The statistics I posted above are not a secret; similar results can be found in many trustworthy outlets. So investors know that the energy policies may have to be softened, that money for infrastructure projects may not be as abundant, and rebate money for EVs and other initiatives could also be slower in coming, if at all.

But what about private prisons? Six days after Biden was inaugurated, he signed an executive order to eliminate the use of privately operated criminal detention facilities. Section 2 of this order specifically prohibits renewing any contracts with criminal detention facilities. 


Source: White House Press Release (January 26, 2021)

After the order, the private prison industry shifted gears and focused on the $3 billion market of detaining immigrants. This shift has been positive, and things don’t look as dark for the two largest for-profit prison companies in the U.S., CoreCivic (CXW) and Geo Group (GEO). Each is now making 30% or more of its revenue from U.S. Customs and Immigration (ICE) contracts.


Source:  Koyfin

Since the beginning of 2022, CoreCivic is up 11.2%, and Geo has performed a bit better than the S&P 500 at negative 16.4% (S&P 500, negative 17.7%).

In an SEC filing from November 2021, GEO Group detailed how, despite the loss of $125 million in contracts due to Biden’s executive order, “record increases in migrant flows at the U.S. border have acted as a tailwind” and have more than made up for the profits lost. Would a Republican-led House of Representatives be more likely to add resources to border security and detainment or reduce it? There is very little discussion about this on investing message boards and on financial news networks and other outlets. Yet, the probabilities are lining up on the side of the Republican agenda, which includes beefing up border security and perhaps allocating more funding in that area.

 

Take Away

If the Democrats lose the significant power they now have in the legislative branch, it would seem that the party that takes power would almost have a mandate from the public to make changes to many of the increasingly unpopular moves made over the past year and a half.

These changes are likely to address the growing concern voters have over the border. In March, a Gallup poll showed that 45%, the highest proportion of Americans since 2007, are concerned “a great deal” about the border. That same poll showed 68% of Republicans are concerned “a great deal.” 

A statistical argument can be made that new doors may open for private prison companies, and investors may want to pay attention.

Register at no cost for daily emails from Channelchek here.

Paul Hoffman

Managing Editor, Channelchek

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Sources

https://www.whitehouse.gov/briefing-room/presidential-actions/2021/01/26/executive-order-reforming-our-incarceration-system-to-eliminate-the-use-of-privately-operated-criminal-detention-facilities/

https://fivethirtyeight.com/about-

https://ballotpedia.org/United_States_House_Republican_Party_primaries,_2022

https://ballotpedia.org/United_States_House_Republican_Party_primaries,_2022

https://projects.fivethirtyeight.com/2022-election-forecast/house/

https://channelchek.com/news-channel/CoreCivic__Inc.__CXW____Biden_Signs_Executive_Order_to_End_Use_of_Private_Prisons_by_BoP

https://www.cnbc.com/2022/07/18/bidens-economic-approval-rating-falls-to-new-low-on-fear-about-inflation-cnbc-survey-finds.html

https://www.opensecrets.org/news/2022/06/private-prison-industry-shifts-focus-to-immigrant-detention-centers-funding-immigration-hawks/

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Filament Health (FLHLF) – Patient Dosing Has Begun in Phase I Psilocin Trial, Seventh Patent Issued, and New Funds Raised

Posted on by Admin

Monday, July 18, 2022

Filament Health (FLHLF)
Patient Dosing Has Begun in Phase I Psilocin Trial, Seventh Patent Issued, and New Funds Raised

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

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

Recent Progress Has Been Made In Several Areas.  Filament Health has announced the dosing of the first patient in the Phase 1 trial testing orally administered psilocybin against its two formulations of psilocin.  This trial will compare psilocybin with two proprietary formulations of psilocin, its active metabolite.  The company has also announced the issuance of its seventh patent and raised $2.5 million through a Private Placement.

The trial is being conducted at the University of San Francisco’s Translational Psychedelic Research Program (TrPR), a collaboration of academic scientists and clinicians from several medical specialties that are exploring the use of psychedelic compounds as therapeutics.  The clinical trial consists of three dosing arms, with patients receiving the orally administered formulation of psilocybin, PEX010, the orally administered formulation of psilocin, PEX020, or the sublingual formulation, PEX030.  The study will compare the physiological and psychological effects of the three formulations, dosing consistency, and the related side-effects….

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. 

Can More Clarity Defining Unemployment from Washington Help Workers?

Posted on by Admin 



Image: Christine Daniloff (MIT Stock Image)


A Reimagined System of Federally Assisted Unemployment Payments

Peter Dizikes | MIT News
Office

Unemployment insurance is a lifeline for many people when work goes away. And when times get really bad in the U.S. — in recessions and during the Covid-19 pandemic — Congress has extended the duration of unemployment benefits for millions of workers.

But is there a better way to structure the timing of unemployment insurance? For some workers, benefits arrive too late after an economic downturn to prevent household financial crises; others have needed insurance payments just when Congress has been debating what eventually becomes benefit extensions. To avoid ad hoc policymaking, the federal government could potentially deploy objective “triggers,” such as significant rises in the jobless rate, that automatically extend unemployment benefits when recessions hit.

Now a study co-directed by an MIT economist, based on extensive modeling, examines the effects of automated unemployment insurance policies. Unemployment insurance based on such triggers would not cost more — or less — than the packages Congress has ultimately approved, the results suggest. But an automated system would provide more clarity to workers in times of economic stress.

“There is a cost to the way Congress does it, which is, people face uncertainty,” says Jonathan Gruber, a professor of economics at MIT and co-author of a new paper detailing the results of the study. “Right now, Congress decides at the last minute, or waits until a week or two after benefits expire to extend them. That kind of uncertainty is costly to people.”

By contrast, Gruber observes, “The advantage of automatic triggers is you resolve uncertainty, and it wouldn’t actually cost much more than the existing system because Congress extends benefits anyway.”

The paper, “Should We Have Automatic Triggers for Unemployment Benefit Duration and How Costly Would They Be?” appears in an annual publication of the American Economic Association, AEA: Papers and Proceedings. The co-authors are Gabriel Chodorow-Reich, a professor of economics at Harvard University; Peter Ganong, an associate professor at the University of Chicago’s Harris School of Public Policy; and Gruber, who is the Ford Professor of Economics at MIT.

Unemployment insurance usually lasts for 26 weeks; in theory, when unemployment exceeds certain thresholds, states will extend benefits further. On five occasions in the last 40 years, Congress has extended unemployment insurance nationally, with states administering the benefits.

To conduct the study, the scholars developed a model — they call it the UI Policy Simulator — examining the period from 1996 to 2019 by state. The researchers used Bureau of Labor Statistics data to simulate each state’s labor market, and modeled the outcomes that would result from implementing multiple types of unemployment insurance policies.

For instance, one set of simulations applied what the scholars call a “Sahm trigger” (after economist Claudia Sahm) that would enhance benefits after an increase in the unemployment rate that was 0.5 percentage points above its minimum three-month average over the previous 12 months. Another “tiered” set of simulations extended insurance by 13 weeks when unemployment reached 5.5 percent in a state, 26 weeks at 6.5 percent unemployment, 39 weeks at 7.5 percent unemployment, and 52 weeks at 8.5 percent unemployment. Still another group of simulations modeled “hard” versus “soft” landings based on how long benefits would be extended after the unemployment rate dropped below the triggering threshold.

Overall, the size of the benefits (and hence expenditures) that the model produced was very close to the size of the packages that Congress has approved in the wake of the 2001 and 2007-09 recessions. In theory, therefore, cost is not a huge issue.

One wrinkle the modeling uncovered is that such a system would take hold in labor markets that have not deteriorated as much, meaning that an extension of benefits could be triggered in a state that then quickly dips back under the threshold unemployment rate.

“There’s a tradeoff,” Gruber says. With a lower triggering threshold, “You might get people benefits a month earlier. On the other hand, you run the risk of having ‘false positives,’ where you send people benefits when you think it [the economy] is going to go south, and it doesn’t.”

Still another factor to consider, as the authors write in the paper, “past behavior is no guarantee of future legislative performance.” Codifying an automated unemployment insurance system might help protect workers from a future congressional stalemate over the issue.

Could this type of policy actually become law? Gruber thinks that might require a change in the way the Congressional Budget Office (CBO) scores the policy (that is, evaluates its cost). At present, the CBO is required to compare the cost to having no built-in enhanced unemployment insurance policy at all — even though Congress has repeatedly crafted such measures in times of need. That approach makes an automated policy seem like a new government expense, which can make legislators less likely to back it.

“In some sense the reason we never get automatic triggers is because of the way our congressional scoring works,” Gruber says. However, he observes, “If Congress is going to do it anyway, that has a zero cost from today’s perspective.” Gruber also notes: “I don’t want to [be critical] of the CBO. They’re just following their mandate.”

The duration and amount of these benefits was most recently a pressing issue during the first 18 months of the Covid-19 pandemic, after unemployment soared in the spring of 2020. Within the last year, U.S. unemployment has dropped to lows not seen for decades. But at some future point, unemployment will likely again become a greater concern, suggesting to Gruber that any time would be a good time to consider this kind of legislation.

“Hopefully we won’t forget about it, and we’ll be able to fix the system when we can,” Gruber says.

He adds: “This is really what I think we can do in economics that’s so valuable for the world: use the modeling tools we have to speak directly to policymakers about the things they care about.”

The research was supported, in part, by the Becker Friedman Institute of the University of Chicago, the Harvard Ferrante Fund, and the Alfred P. Sloan Foundation.

 

Reprinted with permission of MIT News ( http://news.mit.edu/)

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Release – Kratos, USAF Complete Successful XQ-58A Valkyrie Skyborg Flight Series

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Kratos, USAF Complete Successful XQ-58A Valkyrie Skyborg Flight Series

Research, News, and Market Data on Kratos Defense & Security Solutions

SAN DIEGO, 
July 18, 2022 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider and industry-leading provider of high-performance, jet-powered unmanned aerial systems, announced today that it has recently completed a successful series of flights with two production XQ-58A Valkyrie aircraft for the Skyborg Program. The program team includes the 
U.S. Air Force (USAF) Fighters and 
Advanced Aircraft Directorate, 
Air Force Research Laboratory (AFRL), USAF 40th 
Flight Test Squadron (FLTS), USAF 46th 
Test Squadron
, and Kratos.

Steve Fendley,
President of the Kratos Unmanned Systems Division, said, “The continued evolution and demonstration of the USAF Skyborg system is charting the course for the range of tactical applications Skyborg is intended to address and inform. These most recent Skyborg flights, with production Valkyrie aircraft being delivered on the Skyborg contract, illustrate the benefits and utility of these uncrewed systems while informing the operational concepts and Concepts of Employment (CONEMPS). The entire Kratos team is excited to be a part of this game-changing application space for military uncrewed aircraft systems.”

The XQ-58A Valkyrie was initially developed in cooperation with AFRL on the Low Cost Attritable Strike Demonstrator (LCASD) Program with multiple follow-on programs and projects for several customers and applications. These multiple program applications continue with the Skyborg Program, as well as several others related to production, specific mission applications, and operational development of the XQ-58A family of affordable, high speed, tactical UAVs.

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. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, small to mid-sized jet engines and technology, training, and combat systems. 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 30, 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

 


Release – Orion Group Holdings, Inc. Schedules 2022 Second Quarter Results News Release for Wednesday, July 27th and Conference Call for Thursday, July 28th

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Orion Group Holdings, Inc. Schedules 2022 Second Quarter Results News Release for Wednesday, July 27th and Conference Call for Thursday, July 28th

Research, News, and Market Data on Orion Group Holdings

HOUSTON, July 18, 2022 (GLOBE NEWSWIRE) — Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today announced that it will issue its financial results for the second quarter ended June 30, 2022 on Wednesday, July 27, 2022, after the close of the stock market.

ORN’s management will conduct a conference call on Thursday, July 28, 2022 at 10:00 a.m. ET to review these results. To listen to the call live, dial 800-715-9871 in the US and Canada or 646-307-1963 in the US and ask for the Orion Group Holdings Conference Call. To listen to the call via the Internet, please visit 
https://edge.media-server.com/mmc/p/eywdkzdf. Please go to the website 15 minutes early to download and install any necessary audio software. If you are unable to listen live, a replay of the conference call may be accessed for approximately 30 days after the call at Orion Group Holdings’ website.

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas.

CONTACT: Orion Group Holdings Inc.

Francis Okoniewski, Vice President Investor Relations

(346) 616-4138

fokoniewski@orn.net

www.oriongroupholdingsinc.com

 

Source: Orion Group Holdings, Inc.