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Action Alert: Trump Rules Remain At FCC As Democrats Cave To Big Cable

Popular Resistance - Sat, 03/18/2023 - 19:19

Remember Ajit Pai, the former Verizon lawyer Trump put in charge of the Federal Communications Commission (FCC)? When he gutted net neutrality rules and kneecapped the agency’s ability to regulate telecom monopolies, voters from across the political spectrum were outraged. The internet erupted in protest.

Millions of people from across the political spectrum called their elected officials and submitted comments to the FCC, and thousands took to the streets. It was a rare moment of genuinely popular public revolt that defied partisan DC logic. If there’s one thing everyone can agree on, it’s that we don’t want our cable or phone company screwing us over more than they already do, selling our browsing habits and real-time location to advertisers, or dictating what websites we can visit or which apps we use.

The post Action Alert: Trump Rules Remain At FCC As Democrats Cave To Big Cable appeared first on PopularResistance.Org.

Categories: F. Left News

It’s A New Day In The United Auto Workers

Popular Resistance - Sat, 03/18/2023 - 19:14

The machine will churn no more. Nearly 80 years of top-down one-party rule in the United Auto Workers are coming to an end. Reformer Shawn Fain is set to be the winner in the runoff for the UAW presidency.

As of Thursday night, Fain had a 505-vote edge, 69,386 to 68,881, over incumbent Ray Curry of the Administration Caucus. Curry was appointed by the union’s executive board in 2021. There are around 600 unresolved challenged ballots. (This story will be updated with the final vote tally when we have it.)

“By now, the writing is on the wall: change is coming to the UAW,” said Fain. “You, the members, have already made history in this election, and we’re just getting started. It’s a new day in the UAW.”

The post It’s A New Day In The United Auto Workers appeared first on PopularResistance.Org.

Categories: F. Left News

Teachers And Education Workers Set To Strike!

Popular Resistance - Sat, 03/18/2023 - 19:11

Los Angeles, California - On Wednesday March 15, tens of thousands of teachers and education workers rallied at the steps of Los Angeles City Hall.  The joint rally of K-12 teachers (UTLA) and education support staff (SEIU 99) was organized to announce plans for both unions to go on strike, with SEIU 99 taking the lead in the fight for better wages, improved staff to student ratios, and an end to harassment by administrators. The mood was lively, with a mariachi band made up of teachers playing for the crowd, teachers and support staff dancing to the music, and pockets of teachers and education workers striking up impromptu chants and banging on homemade drums.

The post Teachers And Education Workers Set To Strike! appeared first on PopularResistance.Org.

Categories: F. Left News

As millions of solar panels age out, recyclers hope to cash in

Grist - Sat, 03/18/2023 - 06:00

In Odessa, Texas, workers at a startup called SolarCycle unload trucks carrying end-of-life photovoltaic panels freshly picked from commercial solar farms across the United States. They separate the panels from the aluminum frames and electrical boxes, then feed them into machines that detach their glass from the laminated materials that have helped generate electricity from sunlight for about a quarter of a century.

Next, the panels are ground, shredded, and subjected to a patented process that extracts the valuable materials — mostly silver, copper, and crystalline silicon. Those components will be sold, as will the lower-value aluminum and glass, which may even end up in the next generation of solar panels.

This process offers a glimpse of what could happen to an expected surge of retired solar panels that will stream from an industry that represents the fastest-growing source of energy in the U.S. Today, roughly 90 percent of panels in the U.S. that have lost their efficiency due to age, or that are defective, end up in landfills because that option costs a fraction of recycling them.

But recycling advocates in the U.S. say increased reuse of valuable materials, like silver and copper, would help boost the circular economy, in which waste and pollution are reduced by constantly reusing materials. According to a 2021 report by the National Renewable Energy Laboratory (NREL), recycling PV panels could also cut the risk of landfills leaking toxins into the environment; increase the stability of a supply chain that is largely dependent on imports from Southeast Asia; lower the cost of raw materials to solar and other types of manufacturers; and expand market opportunities for U.S. recyclers.

Of course, reusing degraded but still-functional panels is an even better option. Millions of these panels now end up in developing nations, while others are reused closer to home. For example, SolarCycle is building a power plant for its Texas factory that will use refurbished modules.

The prospect of a future glut of expired panels is prompting efforts by a handful of solar recyclers to address a mismatch between the current buildup of renewable energy capacity by utilities, cities, and private companies — millions of panels are installed globally every year — and a shortage of facilities that can handle this material safely when it reaches the end of its useful life, in about 25 to 30 years.

Solar capacity across all segments in the U.S. is expected to rise by an average of 21 percent a year from 2023 to 2027, according to the latest quarterly report from the Solar Energy Industries Association and the consulting firm Wood Mackenzie. The expected increase will be helped by the landmark Inflation Reduction Act of 2022 which, among other supports for renewable energy, will provide a 30 percent tax credit for residential solar installations.

Laminate removed from a solar panel is examined at SolarCycle’s facility in Odessa, Texas. The laminate contains silicon, copper, and silver. SolarCycle

The area covered by solar panels that were installed in the U.S. as of 2021 and are due to retire by 2030 would cover about 3,000 American football fields, according to an NREL estimate. “It’s a good bit of waste,” said Taylor Curtis, a legal and regulatory analyst at the lab. But the industry’s recycling rate, at less than 10 percent, lags far behind the upbeat forecasts for the industry’s growth.

Jesse Simons, a co-founder of SolarCycle, which employs about 30 people and began operations last December, said solid waste landfills typically charge $1 to $2 to accept a solar panel, rising to around $5 if the material is deemed hazardous waste. By contrast, his company charges $18 per panel. Clients are willing to pay that rate because they may be unable to find a landfill licensed to accept hazardous waste and assume legal liability for it, and because they want to minimize the environmental impact of their old panels, said Simons, a former Sierra Club executive.

SolarCycle provides its clients with an environmental analysis that shows the benefits of panel recycling. For example, recycling aluminum uses 95 percent less energy than making virgin aluminum, which bears the costs of mining the raw material, bauxite, and then transporting and refining it.

The company estimates that recycling each panel avoids the emissions of 97 pounds of CO2; the figure rises to more than 1.5 tons of CO2 if a panel is reused. Under a proposed Securities and Exchange Commission rule, publicly held companies will be required to disclose climate-related risks that are likely to have a material impact on their business, including their greenhouse gas emissions.

Stripped from solar panels at the SolarCycle plant, aluminum is sold at a nearby metal yard. Glass is currently sold for just a few cents per panel for reuse in basic products like bottles, but Simons hopes he will eventually have enough of it to sell for a higher price to a manufacturer of new solar panel sheets.

Crystalline silicon, used as a base material in solar cells, is also worth recovering, he said. Although it must be refined for use in future panels, its use avoids the environmental impacts of mining and processing new silicon.

SolarCycle is one of only five companies in the U.S. listed by the SEIA as capable of providing recycling services. The industry remains in its infancy and is still figuring out how to make money from recovering and then selling panel components, according to the U.S. Environmental Protection Agency. “Elements of this recycling process can be found in the United States, but it is not yet happening on a large scale,“ the EPA said in an overview of the industry.

In 2016, the International Renewable Energy Agency (IRENA) forecast that by the early 2030s, the global quantity of decommissioned PV panels will equal some 4 percent of the number of installed panels. By the 2050s, the volume of solar panel waste will rise to at least 5 million metric tons a year, the agency said. China, the world’s biggest producer of solar energy, is expected to have retired a cumulative total of at least 13.5 million metric tons of panels by 2050, by far the largest quantity among major solar-producing nations and nearly twice the volume the U.S. will retire by that time, according to the IRENA report.

The raw materials technically recoverable from PV panels globally could cumulatively be worth $450 million (in 2016 terms) by 2030, the report found, about equal to the cost of raw materials needed to produce some 60 million new panels, or 18 gigawatts of power-generation capacity. By 2050, the report said, recoverable value could cumulatively exceed $15 billion.

For now, though, solar recyclers face significant economic, technological, and regulatory challenges. Part of the problem, says NREL’s Curtis, is a lack of data on panel recycling rates, which hinders potential policy responses that might provide more incentives for solar-farm operators to recycle end-of-life panels rather than dump them.

Another problem is that the Toxicity Characteristic Leaching Procedure — an EPA-approved method used to determine whether a product or material contains hazardous elements that could leach into the environment — is known to be faulty. Consequently, some solar farm owners end up “over-managing” their panels as hazardous without making a formal hazardous-waste determination, Curtis said. They end up paying more to dispose of them in landfills permitted to handle hazardous waste or to recycle them.

The International Energy Agency assessed whether solar panels that contain lead, cadmium, and selenium would impact human health if dumped in either hazardous-waste or municipal landfills and determined the risk was low. Still, the agency said in a 2020 report, its findings did not constitute an endorsement of landfilling: Recycling, it stated, would “further mitigate” environmental concerns.

NREL is currently studying an alternative process for determining whether or not panels are hazardous. “We need to figure that out because it is definitely impacting the liability and the cost to make recycling more competitive,” Curtis said.

Despite these uncertainties, four states recently enacted laws addressing PV module recycling. California, which has the most solar installations, allows panels to be dumped in landfills, but only after they have been verified as non-hazardous by a designated laboratory, which can cost upwards of $1,500. As of July 2022, California had only one recycling plant that accepted solar panels.

In Washington State, a law designed to provide an environmentally sound way to recycle PV panels is due to be implemented in July of 2025; New Jersey officials expect to issue a report on managing PV waste this spring; and North Carolina has directed state environmental officials to study the decommissioning of utility scale solar projects. (North Carolina currently requires solar panels to be disposed of as hazardous waste if they contain heavy metals like silver or — in the case of older panels — hexavalent chromium, lead, cadmium, and arsenic.)

In the European Union, end-of-life photovoltaic panels have, since 2012, been treated as electronic waste under the EU’s waste electrical and electronic equipment directive, known as WEEE. The directive requires all member states to comply with minimum standards, but the actual rate of e-waste recycling varies from nation to nation, said Marius Mordal Bakke, senior analyst for solar supplier research at Rystad Energy, a research firm headquartered in Oslo, Norway. Despite this law, the EU’s PV recycling rate is no better than the U.S. rate — around 10 percent — largely because of the difficulty of extracting valuable materials from panels, Bakke said.

But he predicted that recycling will become more prevalent when the number of end-of-life panels rises to the point where it presents a business opportunity, providing recyclers with valuable materials they can sell. Governments can help speed that transition, he added, by banning the disposal of PV panels in landfills and providing incentives such as tax breaks to anyone who uses solar panels.

“At some point in the future, you are going to see enough panels being decommissioned that you kind of have to start recycling,” Bakke said. “It will become profitable by itself regardless of commodity prices.”

This story was originally published by Grist with the headline As millions of solar panels age out, recyclers hope to cash in on Mar 18, 2023.

Categories: H. Green News

Discovery of Novel Gene to Aid Breeding of Climate Resilient Crops

Environment News Service - Fri, 03/17/2023 - 18:23

Researchers have revealed for the first time how a key gene in plants allows them to use their energy more efficiently, enabling them to grow more roots and capture more water and nutrients.

Categories: H. Green News

How Can We Tackle the Biggest Challenges? Ask a Plant

Environment News Service - Fri, 03/17/2023 - 18:18

Without plants, we’d have no air to breathe or food to eat, yet plant science lingers in the shadowy wings while other fields take center stage. 

Categories: H. Green News

EPA and Montana mining company promise action after revelations of cozy relationship

High Country News - Fri, 03/17/2023 - 13:38
Previous reporting showed how regulators and the mine teamed up to rebut independent researchers.
Categories: H. Green News

Quantum Sensing in Outer Space

Environment News Service - Fri, 03/17/2023 - 13:31

New NASA-funded research will build next-gen tech to better measure climate.

Categories: H. Green News

UK: Windows Smashed at Ecocide Office Building

Earth First! Newswire - Fri, 03/17/2023 - 13:20

from This is Not a Drill

This morning [17th of March], a group of activists in Cambridge broke the windows and spray painted the office building at 50 – 60 Station Road near the rail station. They sent us this explanation.

Why did we choose this anonymous-looking building? Because as soon as it was built, it was occupied by several of the worst enablers of fossil fuels and ecocide. So who are we talking?

EVERSHEDS SUTHERLAND – a law firm that has represented Shell, Chevron and BP, among others [1]. They specialise in injunctions against protestors, including recently assisting Esso in suppressing climate activists [2]. They were recently targeted by activists from HS2 Rebellion for their work on HS2 [3].

CENTRICA – The owners of British Gas, Centrica recently reported record profits for 2022 – off the back of the cost of living crisis and the war in Ukraine [4]. They’re also known for their fracking lobbying (alongside Cuadrilla) in Lancashire [5].

AMAZON – These guys need no introduction. Their carbon emissions are astronomical and their evil billionaire owner Bezos rakes it in off the backs of people living and working in shockingly bad conditions [6].

CHARLES RIVER ASSOCIATES – A dark horse, this lot are famous for creating biased economic forecasts to help their fossil fuel clients lobby against climate policies [7]. They’ve also worked on major oil company mergers – like BP/Statoil and Schlumberger/Cameron – and were hired by BP to defend them after their catastrophic Deepwater Horizon oil spill [8].

STANTEC – They boast about their work ‘increasing the value of Canadian oil’ through the Trans Mountain Expansion Project, which is notorious for the theft of Indigenous land and workers rights abuses [9]. They’ve also provided ‘professional services’ (whatever those are) to HS2.

SIMMONS – These guys have worked with BP on the Caspian pipeline, which is notorious for human rights abuses, and especially harm to the Kurdish people [10]. They are also involved in the East African Crude Oil Pipeline, a project that StopEACOP are working around the world to halt [11].

This isn’t even every destructive company in the building! This building is a hub of planetary exploitation, and shows clearly how Cambridge’s growth agenda is bound up with extractivism. We wish we’d managed to get a pic of the broken windows, but they’ve covered them – instead, you’ll have to make do with this (sent in by a friend) which shows that our action apparently reached new heights (the first floor…)!

[1] https://www.eversheds-sutherland.com/documents/sectors/diversified-industrials/Oil-gas-flyer-V12-pr.pdf

[2] no link because no-one needs to know the details of injunctions xx

[3] https://www.nottinghampost.com/news/nottingham-news/environmental-campaigners-spray-fake-oil-8197554

[4] https://www.bbc.co.uk/news/business-64652142

[5] https://you.38degrees.org.uk/petitions/stop-centrica-investing-in-fracking-1https://www.dailyrecord.co.uk/news/scottish-news/judge-who-jailed-fracking-three-13397943

[6] https://www.cnbc.com/2021/06/30/amazon-says-carbon-emissions-rose-19percent-in-2020.htmlhttps://www.amazonlaborunion.org/

[7] https://www.tandfonline.com/doi/full/10.1080/09644016.2021.1947636

[8] https://www.crai.com/our-people/alan-overd/https://www.crai.com/our-people/matthew-bennett/https://www.crai.com/engagements/non-use-damage-claims/

[9] https://www.stantec.com/uk/projects/d/delivering-hs2-phase-onehttps://www.stantec.com/uk/projects/h/high-speed-rail-phase2bhttps://www.stantec.com/uk/projects/b/business-case-leeds-city-region-hs2-growth-strategyhttps://www.stantec.com/uk/projects/t/trans-mountain-expansion-project-tmephttps://www.wildernesscommittee.org/NoTMX

[10] https://www.simmons-simmons.com/en/expertise/service/energy-natural-resources-and-infrastructurehttps://khrp.org/khrp-news/news-archive/2003-news/109-campaigners-warn-uk-government-of-human-rights-threats-over-bps-caspian-oil-project.html

[11] https://www.simmons-simmons.com/en/expertise/service/oil-and-gashttps://www.stopeacop.net/

Categories: B4. Radical Ecology

Giant Underwater Waves Affect the Ocean’s Ability to Store Carbon

Environment News Service - Fri, 03/17/2023 - 13:01

Underwater waves deep below the ocean’s surface – some as tall as 500 metres – play an important role in how the ocean stores heat and carbon, according to new research.

Categories: H. Green News

New Study Provides First Comprehensive Look at Oxygen Loss on Coral Reefs

Environment News Service - Fri, 03/17/2023 - 13:00

Scripps Oceanography scientists and collaborators provide first-of-its-kind assessment of hypoxia, or low oxygen levels, across 32 coral reef sites around the world.

Categories: H. Green News

“Denoising” a Noisy Ocean

Environment News Service - Fri, 03/17/2023 - 12:59

Come mating season, fishes off the California coast sing songs of love in the evenings and before sunrise. 

Categories: H. Green News

NASA Uses 30-Year Satellite Record to Track and Project Rising Seas

Environment News Service - Fri, 03/17/2023 - 12:56

Observations from space show that the rate of sea level rise is increasing. Knowing where and how much rise is happening can help coastal planners prepare for future hazards.

Categories: H. Green News

NASA Rockets to Search for Swirls at the Edge of Space

Environment News Service - Fri, 03/17/2023 - 12:55

A NASA rocket team is on the hunt for giant hurricane-like swirls in our upper atmosphere. 

Categories: H. Green News

Activity Deep in Earth Affects the Global Magnetic Field

Environment News Service - Fri, 03/17/2023 - 12:54

Compass readings that do not show the direction of true north and interference with the operations of satellites are a few of the problems caused by peculiarities of the Earth’s magnetic field.

Categories: H. Green News

Kazatomprom’s 2022 profit doubles as it lowers 2023 production guidance

Mining.Com - Fri, 03/17/2023 - 12:32

Kazatomprom (LSE: KAP) reported a 115% increase in full-year 2022 earnings on Friday, thanks to a 31% increase in the average realized uranium price.

Despite the solid financial performance, the Kazakhstan company – the world’s largest producer of uranium – tempered its production forecast for 2023, saying continued delays and/or limited access to certain vital materials, including sulphuric acid and equipment, impacted the wellfield commissioning schedule last year.

In 2023, the company expects to produce between 20,500 – 21,500 tonnes of uranium on a 100% basis and between 10,600 and 11,200 tonnes of uranium on an attributable basis. Kazatomprom produced 11,373 tonnes of uranium last year, 4.1% lower year-on-year. Kazakhstan’s total uranium output was 21,227 tonnes, down 2.7% over 2021.

The company attributed the declining production profile to the covid-19 pandemic, which impacted wellfield development in 2021. Compared with 2021, in 2022, the attributable net direct (C1) cash cost was at 16% to $10.25 per lb., mainly due to a payroll increase of production personnel and an increase in the cost of materials driven by inflationary pressure.

All-in-sustaining cash costs increased by 28% to $16.19 per lb. in 2022 due to increased capital expenditures of mining companies. The results were, however, said to be within the guidance.
The average realized price in 2022 was $43.33 per lb., giving it a healthy margin.

Revenue for the year jumped 45% to $2.2 billion, resulting in a net profit of $1 billion.
Canaccord Genuity UK mining analyst Alexander Bedwany highlights in a note to clients that a key takeaway is that the spot market will likely continue to be tight, with costs continuing to rise for producers.

Kazatomprom’s attributable production represented about 24% of global primary uranium production in 2021. The company benefits from the most extensive reserve base in the industry and operates – through its subsidiaries, JVs and associates – 26 deposits in Kazakhstan, grouped into 14 mining assets.

All of the company’s mining operations are located in the Central Asian country and it extracts uranium using in-situ recovery technology.

Canaccord’s Bedwany flags attention to Kazatomprom’s language in its press release about its ties to Russia, through which some exports are channelled and processed, with the company acknowledging sanctions against Russia could materially impact its business. However, it stressed there were no impacts to date. The company said a high-priority risk analysis is being carried out continuously concerning compliance with the sanctions.

Kazatomprom said it is well-positioned to benefit from improving market dynamics and maximizing value for stakeholders through continued production and sales discipline. Kazatomprom’s global depository receipts last traded at $27.00, having traded between $23.22 and $36.62 over the past 12 months.

Earth Day Celebration at Trailside Museums & Zoo at Bear Mountain

River Keeper - Fri, 03/17/2023 - 11:28

Celebrate Earth Day and springtime with some family-friendly and Earth-friendly fun at Trailside Museums and Zoo at Bear Mountain State Park on Saturday, April 22, 2023, from 11:00 a.m. to 3:00 p.m.

Throughout the day, there will be nature-related displays, activities, and games, plus some tips to help you look after Mother Earth! Trailside interpreters will help you learn about our animals and other exhibits.

The rain date is Sunday, April 23rd. There is a $10.00 parking fee at Bear Mountain State Park. There is no separate admission fee for the zoo. Donations are welcome. Trailside Museums & Zoo is part of the Palisades Interstate Park Commission. The Palisades Interstate Park Commission administers 29 parks, parkways, and historic sites for the Office of Parks, Recreation, and Historic Preservation in New York and the Palisades Interstate Park and parkway in New Jersey.

For information about New York State parks and historic sites, please visit parks.ny.gov, and for more information about the Palisades Interstate Park parks and historic sites, please visit www.palisadesparksconservancy.org.

The post Earth Day Celebration at Trailside Museums & Zoo at Bear Mountain appeared first on Riverkeeper.

Categories: G1. Progressive Green

Ivanhoe’s electro-pulse technology may expand Santa Cruz copper project in Arizona

Mining.Com - Fri, 03/17/2023 - 09:56

Ivanhoe Electric (TSX: IE; NYSE American: IE) says visible copper in a drill hole suggested by the company’s new technology bodes well for adding high-margin ore to the resource at the Santa Cruz copper project in Arizona.

Drill hole SCC-122 outside the mineralization area at the Texaco Ridge target intersected visible copper oxide starting from 429 metres depth, the company said. The hole is 200 metres west of the closest historic drill hole at the site located midway between Phoenix and Tucson, it said.

“The recent visual confirmation of additional oxide mineralization at Texaco Ridge is indicative of the upside potential of the area,” Ivanhoe Electric CEO Taylor Melvin said in a news release.

BMO Capital Markets said the finding was another success for Ivanhoe Electric’s trademarked Typhoon exploration technology which uses electromagnetic pulses to probe for deposits.

“We view this as another positive exploration datapoint delivered by Typhoon, with leverage to add further potentially high-margin oxide mineralization at the Santa Cruz project,” mining analyst Andrew Mikitchook wrote in a note on Friday.

“Adding soluble copper mineralization is a positive for the project, and we would expect further oxide mineralization is likely to be discovered in step-out drilling across the Santa Cruz property.”

As Ivanhoe conducts an initial economic assessment of a potential underground mine at Santa Cruz, it reported infill drill hole SCC-058 cut 55 metres grading 3.1% copper from 596 metres depth, including 37 metres grading 4.2% copper.

Ivanhoe used Typhoon to identify the Texaco Ridge target as well as several others that may expand the East Ridge and Texaco deposits, define the Far Southwest target and potentially enlarge the whole Santa Cruz deposit.

“With our exploration drilling precisely focused on areas highlighted by Typhoon, we are excited about the potential at the Texaco Ridge exploration area and the development of the entire Santa Cruz copper project,” said Robert Friedland, the company’s executive chairman.

The project has an indicated resource of 226.7 million tonnes grading 1.2% copper for contained metal of 2.8 million tonnes, according to a Dec. 2022 estimate. The indicated soluble copper grade is 0.8% for 1.9 million tonnes contained soluble copper.

The Texaco Ridge drill hole SCC-122, showing visible copper, also displayed brecciated oracle granite with blue chrysocolla, a leachable mineral that is about 30% copper by weight, Ivanhoe said. Assay results for the hole are pending.

This drill hole also encountered chrysocolla, chalcopyrite, atacamite and chalcocite, leachable minerals which range from 34% to 80% copper by weight, the company said.

“At Texaco Ridge, the presence of primary hypogene chalcopyrite mineralization, and evidence of the same protracted supergene enrichment processes seen at Santa Cruz, is encouraging for the potential of a greater discovery of high-quality enriched copper mineralization,” the company said.

Gold price rally accelerates as banking crisis shock lingers

Mining.Com - Fri, 03/17/2023 - 09:34

Gold prices surged over 2% on Friday as a wave of banking crises shook markets in what would be bullion’s biggest weekly rise since November. Bets also solidified for a less aggressive rate hike by the US Federal Reserve, adding appeal to the non-yielding metal.

Spot gold was up by 2.1% to $1,959.92 per ounce by 12:15 p.m. ET, its highest in almost a year. US gold futures also gained 2.0% to $1,961.90 an ounce.

[Click here for an interactive chart of gold prices]

“Gold is surging on fears that more bad banking news could appear over the weekend and hopes that the Fed will pause its rate hikes next week,” Tai Wong, an independent metals trader based in New York, told Reuters.

The collapse of Silicon Valley Bank (SVB), the second-largest bank crash in US history, has highlighted banks’ vulnerabilities to sharply higher rates, while a rout in Credit Suisse shares has added to global market turmoil.

“Gold is likely to shine through the chaos as investors adopt a guarded stance,” said Lukman Otunuga, senior research analyst at FXTM. The dollar and stock markets continued to slide on Friday, making the safe-haven metal a more attractive investment.

Still, the Fed is expected to raise interest rates by 25 basis points next week despite recent banking sector turmoil, according to a strong majority of economists polled by Reuters who were divided on the risks to their terminal rate view.

(With files from Reuters)

Read more: Gold price bulls hope short-term bank contagion sparks longer-term rally

Gold juniors Trillium and Pacton to combine forces in Ontario’s Red Lake mining district

Mining.Com - Fri, 03/17/2023 - 09:28

A merger of Trillium Gold (TSXV: TGM) and Pacton Gold (TSXV: PAC) will create an explorer with over 15 projects spanning 1,260 sqkm in the Red Lake mining district, the companies say.

Pacton’s Red Lake gold project is within 20 km of Trillium’s Newman Todd complex and the western portion of its Confederation Belt properties. Trillium’s Leo and Pakwash properties are also immediately south of Pacton’s Dixie and Pakwash properties.

Under the proposed merger, Pacton will become a wholly-owned subsidiary of Trillium. The companies will merge on an at-market basis, with each common shareholder of Pacton entitled to receive 1.275 common shares of Trillium in exchange for one Pacton share. Once completed, Trillium and Pacton shareholders will own 53% and 47%, respectively, of the combined company.

If the merger is completed, Trillium’s landholdings will jump by more than 360 sqkm or 40%.

Pacton’s 280-sqkm Red Lake project is located between Pure Gold’s (NEX: PGM.H) Madsen property, Kinross Gold’s (TSX: K; NYSE: KGC) Dixie project and Evolution Mining’s (ASX: EVN) Red Lake mines. A 15-hole (5,698 metre) drill program there last year returned assays including 0.5 metre of 17.2 grams gold per tonne, of which high-grade surface samples included 126.5 grams gold and 23.3 grams gold.

Pacton also brings to the merger its 46.7% stake in the 86-sqkm Sidace project, 28 km northeast of Red Lake and located at the northern extent of the Red Lake Greenstone Belt. Evolution Mining owns the other 53.3% of the joint-venture project, which is adjacent to its Bateman gold project.

In 2021, 17 of 18 holes drilled at Sidace intersected gold, including 9 grams over 2.3 metres; 1.3 grams gold over 75.2 metres; 1.5 grams gold over 61.2 metres and 20.6 grams gold over 1 metre.

Trillium’s Confederation Belt properties span over 115 km along favorable structures, the company says, and its greater Newman Todd complex hosts over 20 high-grade zones.

Since January 2022, Trillium has drilled 17 holes (7,665 metres) at Newman Todd, with drill hole NT22 211-212 returning 8.75 grams gold per tonne over 20.4 metres, including 549 grams gold over 0.3 metre; and 40.56 grams gold over 4.18 metres including 136 grams gold over 1.08 metres.

Newman Todd, which includes Trillium’s Rivard property, is about 26 km from Evolution Mining’s Red Lake operations.

At midday in Toronto, Trillium’s shares were down 4.2% at C$0.115 and Pacton was down 8.8% at C$0.155 per share. Currently Trillium has a market cap of C$9.1 million and Pacton C$8.4 million.

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