The initial Prospecting Lease period is for five years, with the Company having the option to extend for a further five years if required, and can be converted to a Mining Lease at any time within the 10 year period. The agreement will enable Cornish Metals to explore and, if successful, mine within all of the lease area. The terms of the Prospecting Lease require Cornish Metals to pay an annual rent to Roskear Minerals, plus a tin price-based sliding scale net smelter return royalty on production of any minerals recovered from the leased area under a subsequent Mining Lease.
The agreement with Roskear Minerals LLP is arms-length.
Fancamp Exploration Ltd. (TSXV: FNC), announced the voting results of its Annual General Meeting of Shareholders (“AGM”) held on October 31st, 2022, in Montreal, Quebec.
The Corporation announces that all resolutions put forward to shareholders in the Fancamp Management Information Circular (“Circular”) dated September 30th, 2022, were overwhelmingly approved. Fancamp also announces that the nominees listed in the Circular for the Annual General Meeting of Shareholders (the “Meeting”) were elected as Directors of the Corporation. The number of Directors has been set at six and Mark Billings, Greg Ferron, Ashwath Mehra, Rajesh Sharma, Mathieu Stephens and Charles Tarnocai have been re-elected to the Corporation’s Board of Directors.
Shareholders at the meeting approved the re-appointment of MNP LLP, Chartered Accountants as the Corporation’s auditors for the next ensuing year. Fancamp shareholders also re-approved the Corporation’s “rolling 10%” stock option plan pursuant to which the Corporation may issue stock options to eligible participants.
About Fancamp Exploration Ltd.
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of progressing priority mineral properties through exploration and innovative development. The Corporation is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims encompassing over 158,000 hectares across Ontario, Quebec and New Brunswick, Canada; including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The Corporation continues to identify near term cash-flow generating opportunities and in parallel aims to advance its investments in strategic mineral properties. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements Company NeoTerrex Corporation in addition to an investment in a zinc mine planned to be restarted in Nova Scotia. The Corporation has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. The Corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.
Intellabridge Technology Corporation (CSE: KASH), a financial technology company, is pleased to announce that the Company is in the process of building a decentralized market called “Jupiter Protocol” which provides stablecoin holders with cashback on DeFi money markets.
Jupiter Protocol is leveraging Circle’s USD stablecoin (USDC), “a fully-reserved stablecoin”, according to Circle, where “every digital dollar of USDC is 100% backed by cash and short-dated U.S. treasuries, so that it’s always redeemable 1:1 for U.S. dollars.”
The Jupiter Protocol is designed to make it easy for anyone to earn cashback on Circle stablecoins such as USDC and Euro Coin, without the complexity of moving stablecoins into different decentralized money markets. Since Kash USD is easily transferable just like USDC, it can be used for payments, remittance, or other financial services that want to benefit from a cashback solution.
The Protocol provides users including developers and companies building on decentralized finance easy access to DeFi markets such as Compound and Aave, simply by holding KASH USD in more than 200 user-controlled wallets including Metamask and Coinbas
“Developers will be able to access the Jupiter Protocol and integrate KASH into their products with just a few lines of code,” explains John Eagleton, Kash CEO. “Given the popularity of cashback products in traditional financial markets, we expect KASH to be the mass-market customer layer on top of USDC which gives holders automated cashback without the friction of having to move their USDC from protocol to protocol. It’s an easy way to get cashback in any currency, from Dollars to Dirhams without the complexity of DeFi.”
In addition, holders of Kash USD would have the option to donate their cashback to charitable organizations based on the United Nations Sustainable Development Goals, adopted by the United Nations as a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity, in line with the Company’s vision to provide a platform for environmental, social, and governance (ESG) investing and mission to make every financial transaction have a positive impact.
The Jupiter Protocol diversifies the risk across multiple protocols by using a risk scoring methodology based on technical risk intelligence which is scored and algorithmically updated each day. The Company also plans to integrate blockchain-based coverage against smart contract failure and technical risks. The Protocol is in development, and will undergo multiple security audits.
The goal of the Jupiter Protocol, in partnership with key strategic relationships, is to provide greater purchasing power for customers, and to leverage DeFi payment rails to provide faster transactions at a fraction of the cost with a powerful cashback solution for customers and merchants.
“We are very pleased to be working with DeFi, Web3 and traditional financial partners and protocols, to help expand the ecosystem and bring new financial solutions to people ” explains John Eagleton.
The Company is building on Web3, the next generation internet, which is more decentralized, verifiable, and secure, and gives users ownership and power over their identity, data, and transactions. Web3 decentralizes control of the internet, combining decentralized internet networks, secure computing, and autonomous intelligent software. Intellabridge is building the Jupiter Protocol as a principal means of earning cashback built on Web3 to securely link people, data and money with cryptographic verifiability, transaction processing, P2P connectivity and trustless interoperability.
The Company is planning to deliver the Alpha version of the product in December 2022. The objective of the Alpha version is to pilot and process transactions in advance of a tested and audited live release in March 2023
ECONOMIC DATA (EST)
0930 S&P Global Manufacturing PMI SA for Oct: Prior 49.8
B2Gold Corp: Expected Q3 earnings of 6 cents per share
Colliers International Group Inc: Expected Q3 earnings of $1.64 per share
Ero Copper Corp: Expected Q3 earnings of 21 cents per share
Frontera Energy Corp: Expected Q3 earnings of 79 cents per share
International Petroleum Corp: Expected Q3 earnings of 50 cents per share
Thomson Reuters Corp: Expected Q3 earnings of 50 cents per share
Toromont Industries Ltd: Expected Q3 earnings of C$1.33 per share
CORPORATE DATA (EST)
0900 Thomson Reuters Corp: Q3 earnings conference call
0900 Gibson Energy Inc: Q3 earnings conference call
1030 Turquoise Hill Resources Ltd: Shareholders Meeting
1100 Colliers International Group Inc: Q3 earnings conference call
MTY Food Group Inc: Amount C$0.21
Nikkei: 27,654.32; up 0.24%; 66.86 points
MSCI Asia, Ex-JP: 442.29; up 2.01%; 8.72 points
EUR/USD: $0.9923; up 0.38%; 0.0038 point
GBP/USD: $1.1524; up 0.46%; 0.0053 point
USD/JPY: 148.15 yen; down 0.39%; 0.58 point
Spot Gold: $1,641.38; up 0.51%; $8.26
U.S. Crude: $87.29; up 0.88%; $0.76
Brent Crude: $93.74; up 1.00%; $0.93
10-Yr U.S. Treasury Yield: 4.0264%; down 0.05 point
10-Yr Bund Yield: 2.1400%; down 0.009 point
Asian shares rose and bond yields firmed despite mild losses from Wall Street overnight as investors turned their focus to the Federal Reserve’s policy meeting this week for hints on what comes next.
Oil prices rose as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world’s second-largest oil consumer.
Delta Air Lines: Pilots at Delta have voted to authorize a strike if negotiators cannot reach agreement on a new employment contract, their union said on Monday. The Air Line Pilots Association (ALPA), which represents nearly 15,000 pilots at the Atlanta-based carrier, said 99% of those who cast their ballots backed strike-authorization. Under U.S. law, Delta pilots cannot walk off the job until the National Mediation Board grants them permission. The board must first decide that additional mediation efforts would not be productive and offer the parties an opportunity to arbitrate. If either side declines, both parties enter a 30-day “cooling off” period, after which pilots and management can engage in self-help – a strike by the union or a lockout by management. Delta said its pilots are not on strike and the vote will not affect its operation. The carrier said a “significant progress” has been made in the contract negotiations and only a few issues have been left to resolve.
Ford Motor Co: The U.S. automaker opened its new global technology and business center on the outskirts of Mexico’s capital on Monday after a $260 million investment. The new campus will host business operations, global transformation activities and the largest engineering center in Mexico, according to a video shared by the company’s Twitter account. The campus, located in the municipality of Naucalpan, is set to host 9,000 employees working in a hybrid manner, splitting time between home and the campus, Ford Motor said in a statement.
Pfizer Inc: The company said its experimental respiratory syncytial virus (RSV) vaccine was found effective for preventing severe infections in infants after being given in a late-stage study to expectant mothers in the second half of pregnancy. Pfizer’s shot, if approved, could be the first maternal vaccine available to relieve the burden of the disease in young infants. The company stopped the trial after the early success and plans to file for approval by the end of 2022. “Maternal immunization takes advantage of the ability to protect the infant from day one… which is important because the peak of hospitalization in these infants due to RSV is around one to two months of age,” Kena Swanson, Vice President of Viral Vaccines at Pfizer, said in an interview.
Tesla Inc: The company aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month that it was working on readying its Austin, Texas plant to build the new model with “early production” set to start in the middle of 2023. “We’re in the final lap for Cybertruck,” Musk told a conference call with financial analysts. A gradual ramp in the second half of next year to full output for the sharp-angled electric truck would mean that Tesla would not be recording revenue until early 2024 for a full-quarter of production on a new model seen as key to its growth. It would also mean a wait of another year for the estimated hundreds of thousands of potential buyers who have paid $100 to reserve a Cybertruck in one of the most highly anticipated, and closely tracked electric vehicle launches ever.
Wells Fargo & Co: The company said on Monday that the U.S. Securities and Exchange Commission has begun investigating its hiring practices, after the Department of Justice had opened a related probe. In its quarterly report filed with the SEC, the fourth-largest U.S. bank said both agencies “have undertaken formal or informal inquiries or investigations regarding the company’s hiring practices related to diversity.” Wells Fargo also said in Monday’s filing that it is in talks with another federal agency, the Consumer Financial Protection Bureau (CFPB), to settle “a number” of probes, including for automobile lending, consumer deposit accounts and mortgage lending.
ECONOMIC DATA (EST)
0945 S&P Global Manufacturing PMI Final for Oct: Prior 49.9
1000 Construction spending mm for Sept: Expected -0.5%; Prior -0.7%
1000 ISM Manufacturing PMI for Oct: Expected 50.0; Prior 50.9
1000 ISM Manufacturing Prices Paid for Oct: Expected 52.5; Prior 51.7
1000 ISM Manufacturing Employment Index for Oct: Prior 48.7
1000 ISM Manufacturing New Orders Index for Oct: Prior 47.1
1000 JOLTS job openings for Sept: Expected 10.000 mln; Prior 10.053 mln
1030 Texas Service Sector Outlook for Oct: Prior -5.4
1030 Dallas Fed Services Revenues for Oct: Prior 5.9
Advanced Micro Devices Inc: Expected Q3 earnings of 68 cents per share
Amcor PLC: Expected Q1 earnings of 18 cents per share
American International Group Inc: Expected Q3 earnings of 53 cents per share
Assurant Inc: Expected Q3 earnings of $1.18 per share
Caesars Entertainment Inc: Expected Q3 earnings of 14 cents per share
Clorox Co: Expected Q1 earnings of 75 cents per share
Devon Energy Corp: Expected Q3 earnings of $2.13 per share
Eaton Corporation PLC: Expected Q3 earnings of $2.01 per share
Ecolab Inc: Expected Q3 earnings of $1.31 per share
Edison International: Expected Q3 earnings of $1.52 per share
Electronic Arts Inc: Expected Q2 earnings of $1.37 per share
Extra Space Storage Inc: Expected Q3 earnings of $1.59 per share
FMC Corp: Expected Q3 earnings of $1.12 per share
Fox Corp: Expected Q1 earnings of $1.14 per share
Franklin Resources Inc: Expected Q4 earnings of 67 cents per share
Gartner Inc: Expected Q3 earnings of $1.87 per share
Healthpeak Properties Inc: Expected Q3 earnings of 11 cents per share
Leidos Holdings Inc: Expected Q3 earnings of $1.57 per share
Match Group Inc: Expected Q3 earnings of 40 cents per share
Mckesson Corp: Expected Q2 earnings of $6.09 per share
Mondelez International Inc: Expected Q3 earnings of 69 cents per share
ONEOK Inc: Expected Q3 earnings of 96 cents per share
Paycom Software Inc: Expected Q3 earnings of $1.18 per share
Progressive Corp: Expected Q3 earnings of $1.45 per share
Prudential Financial Inc: Expected Q3 earnings of $2.02 per share
Public Storage: Expected Q3 earnings of $2.73 per share
Simon Property Group Inc: Expected Q3 earnings of $1.44 per share
Sysco Corp: Expected Q1 earnings of 99 cents per share
Verisk Analytics Inc: Expected Q3 earnings of $1.47 per share
A planned $2.2 billion merger of Penguin Random House, the world’s largest book publisher, and rival Simon & Schuster cannot go forward, a U.S. judge ruled on Monday.
Shell Eastern Petroleum, a unit of oil giant Shell, said it has acquired Asia-based waste oil recycling firm EcoOils to expand its biofuels production.
QuestDB, a leader in time series and real-time analytics, today announced that Aquis Exchange, a leading European Operator of Pan-European equity trading exchanges, is using the QuestDB open source time series database to monitor its institutional exchange in real time. This partnership enables Aquis Exchange to improve its monitoring and real-time decision-making capabilities with open source software at the core of their infrastructure while reducing costs.
In an industry where each microsecond counts, it is essential for financial exchanges to monitor their infrastructure in real-time and react as fast as possible to guarantee orderly and fair market prices. Aquis Exchange, authorised and regulated by the UK Financial Conduct Authority and France’s Autorité des Marchés Financiers, has chosen to rely on open source technology to track infrastructure, business, and market data. QuestDB allows to store, aggregate, and chart all those metrics in real-time with high throughput ingestion and querying capabilities in SQL. By replacing expensive and inflexible proprietary software with open source software focused on performance and integration, Aquis has built cost-efficient solutions which reliably persist exchange-scale time series data in bursts exceeding 1M tps while concurrently handling complex multi-user analytic queries.
India’s federal fiscal deficit in the first half of the financial year through September rose to 6.20 trillion rupees ($74.91 billion) from 5.27 trillion a year earlier, though rising tax collections helped offset a higher subsidy bill.
Bharti Airtel Ltd, India’s No.2 telecom carrier by subscribers, reported a bigger-than-expected increase in second-quarter revenue on Monday, helped by 4G subscriber additions and higher revenue per user.
India’s Tata Steel on Monday missed analysts’ quarterly earnings estimates by a wide margin as profit slumped more than 87% due to a drop in steel prices amid a global economic slowdown.
Indian infrastructure company Larsen & Toubro Ltd reported a better-than-expected second-quarter profit on Monday, on the back of a surge in order inflows.
Several Shanghai residents received fresh stay-at-home orders and mandatory testing notices as authorities raced to trace contacts linked to a COVID-positive woman whose visit to the city’s Disney Resort prompted its temporary lockdow
BP PLC: The company more than doubled its third-quarter profit from a year earlier to $8.15 billion, lifted by strong natural gas trading, as it expanded its share buybacks by $2.5 billion amid rising calls to increase taxes on the energy sector. BP said it expects to pay around $2.5 billion in taxes for its British North Sea business this year, including $800 million in a windfall tax. The company made a profit of $3.3 billion a year earlier and a 14-year high profit of $8.45 billion in the second quarter of 2022. BP, which increased its dividend by 10% in the quarter, will buy back $2.5 billion of shares after repurchasing $7.6 billion so far this year.
Sony Group Corp: The company hiked its full-year operating profit forecast by 4.5% to 1.16 trillion yen as the boost from foreign exchange fluctuations at units including the music business offset gaming weakness. The gaming business recorded a 49% fall in second quarter profit to 42.1 billion yen after booking higher costs from game development and acquisitions. Sony trimmed its full-year profit forecast for the games business by 12% to 225 billion yen citing lower software sales from third-party developers and the impact of dollar-denominated costs. Sony reported overall group operating profit rose 8% to 344 billion yen in the July-September quarter, beating analyst estimates.
Toyota Motor Corp: The company posted a worse-than-expected 25% drop in quarterly profit and cut its annual output target, as the Japanese firm battles surging material costs and a persistent semiconductor shortage. The automaker also warned that it remained difficult to predict the future after posting its fourth consecutive quarterly profit decline, underlining the strength of business headwinds it faces. Operating profit for the three months ended September fell to 562.7 billion yen, well short of an average estimate of 772.2 billion yen. Production rebounded by 30% in the quarter, but the company warned last week shortages of semiconductors and other components would continue to constrain output in coming months. Toyota said it now expects to produce 9.2 million vehicles this fiscal year, down from the previously forecast 9.7 million but still ahead of last financial year’s production of about 8.6 million units.
BP PLC Q3 2022 Earnings Release
Fresenius SE & Co KGaA Q3 2022 Earnings Call
Vistry Group PLC Annual Shareholders Meeting
ECONOMIC DATA (GMT)
0700 Germany Import Prices mm for Sept: Expected 0.6%; Prior 4.3%
0700 Germany Import Prices yy for Sept: Expected 31.0%; Prior 32.7%
0700 United Kingdom Nationwide house prices mm for Oct: Prior 0.0%
0700 United Kingdom Nationwide house prices yy for Oct: Expected 8.3%; Prior 9.5%
0730 Sweden PMI Manufacturing Sector for Oct: Prior 49.2
0800 Netherlands PMI Manufacturing Sector for Oct: Prior 49.0
0800 Switzerland Consumer Confidence for Q4: Prior -28
0800 Switzerland Consumer Confidence SA for Q4: Prior -41.70
0830 Switzerland Manufacturing PMI for Oct: Expected 56.0; Prior 57.1
0930 United Kingdom S&P GLBL/CIPS Manufacturing PMI Final for Oct: Expected 45.8; Prior 45.8
0800 Austria Unemployment for Oct: Prior 237,400
0800 Austria Unemployment Rate for Oct: Prior 5.7%
Belgium – Reopening of 4-month and 6-month government debt auctions
Germany – Reopening of 10-year and 23-year government debt auctions
Switzerland – Reopening of 3-month government debt auction