Nordic Resources (NNL:AU) has announced Excellent Gold Intersections Verified at Kiimala Project
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C29 Metals (C29:AU) has announced Multiple New Multi-Commodity Targets
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Epic Games said on Friday that it submitted Fortnite to Apple’s App Store, the month after a judge ruled in favor of the game maker in a contempt ruling.
Fortnite was booted from iPhones and Apple’s App Store in 2020, after Epic Games updated its software to link out to the company’s website and avoid Apple’s commissions. The move drew Apple’s anger, and kicked off a legal battle that has lasted for years.
Last month’s ruling, a victory for Epic Games, said Apple was not allowed to charge a commission on link-outs or dictate if the links look like buttons, paving the way for Fortnite’s return.
Apple could still reject Fortnite’s submission. An Apple representative did not respond to CNBC’s request for comment. Apple is appealing last month’s contempt ruling.
The announcement by Epic Games is the latest salvo in the battle between it and Apple, which has taken place in courts and with regulators around the world since 2020. Epic Games also sued Google, which operates the Play Store for Android phones.
Last month’s ruling has already shifted the economics of app development for iPhones.
Apple takes between 15% and 30% of purchases made using its in-app payment system. Linking to the web avoids those fees. Apple briefly allowed link-outs under its system but would charge a 27% commission, before last month’s ruling.
Developers including Amazon and Spotify have already updated their apps to avoid Apple’s commissions and direct customers to their own websites for payment.
Before last month, Amazon’s Kindle app told users they could not purchase a book in the iPhone app. After a recent update, the app now shows an orange “Get Book” button that links to Amazon’s website.
Fortnite has been available for iPhones in Europe since last year through Epic Games’ store. Third-party app stores are allowed in Europe under the Digital Markets Act. Users have also been able to play Fortnite on iPhones and iPads through cloud gaming services.
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Amid ever-increasing uncertainties on the global front and similarly rising geopolitical tensions between India and Pakistan, the Indian equity markets demonstrated strong resilience. They consolidated before ending the week on just a modestly negative note. The trading range remained modest; the Nifty oscillated in a 590-point range. While the markets defended their key support levels, the volatility surged. The volatility barometer, the India Vix, spiked 18.49% to 21.63 on a weekly basis.. The headline index finally closed with a net weekly loss of 338.70 points (-1.39%).
A few important things to note from a technical perspective. The 200-DMA is at 24044; the 50-week MA is at 23983. This makes the zone of 23950-24050 a very important support zone for the Nifty. So long as the Index is able to defend this zone, it will continue consolidating in a defined range. Incremental weakness would creep in only if the 23900 level is violated decisively. On the higher side, as evident from the charts, the markets have continued to resist the rising trendline resistance. From now on, the Nift’s behavior vis-à-vis the zone of 23950-24050 would be crucially important to watch; the Index’s ability to defend or not defend this zone will dictate the trend over the coming weeks.
The levels of 24350 and 24600 are expected to act as probable resistance points in the coming week. The supports are at 23900 and 23630.
The weekly RSI is 54.36; it stays neutral and does not diverge against the price. The weekly MACD is bullish and stays above its signal line. A bearish engulfing candle has emerged. Its emergence near a pattern resistance adds credibility to the resistance placed near 24500-24600.
The pattern analysis of both daily and weekly charts shows that the Nifty has traded quite on the expected lines and within the analyzed range. It has continued resisting the rising trendline resistance near 24500-24600; it has so far defended the key that is created between the 200-DMA and the 50-week MA. The markets would weaken only if they violate the crucial 23900 level; so long as this point stays defended, we can expect the markets to consolidate in a defined range.
Based on the overall technical structure, it is likely that the markets will not see any immediate upward trend. While if the markets end up breaching the 23900 level remains to be seen, it is doubtful that they will initiate any sustainable trending upmove and move past the 24500 levels soon. The hedging activity and the cost of hedging have increased; this is evident from Vix, which has significantly risen over the past few days. While the Nifty has defended the key support levels so far, it remains in a technically challenging environment. It is strongly recommended that the market participants adopt a defensive approach by focusing on the low beta stocks and the stocks with improving relative strength. Staying low on leveraged positions, a continued cautious outlook is advised for the coming week.
Sector Analysis for the coming week
In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks.
Relative Rotation Graphs (RRG) show that the Nifty PSE Index has rolled inside the leading quadrant. Infrastructure, Nifty Bank, PSU Bank, FMCG, Consumption, Commodities, and the Financial Services Indices are also inside the leading quadrant. These groups are likely to outperform the broader Nifty 500 Index relatively.
The Nifty Metal Index has rolled inside the weakening quadrant. This may cause the sector to slow down and give up on its relative performance. The Services Sector index also remains in this quadrant.
While the Nifty IT Index continues to languish in the lagging quadrant, the Auto and the Realty Indices are sharply improving their relative momentum against the broader markets while staying inside this quadrant.
The Nifty Midcap 100 index has rolled inside the improving quadrant; may see its relative performance bettering over the coming days. The Media and the Energy Indices are also inside this quadrant, and may continue seeing improvement in their relative performance against the broader markets.
Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.
Milan Vaishnav, CMT, MSTA
Consulting Technical Analyst
This week proved pivotal for the tech and energy sectors as market dynamics and the regulatory landscape shifted.
Apple (NASDAQ:AAPL) made waves by signaling a foray into artificial intelligence (AI) search and challenging app store regulations, while OpenAI underwent a major restructuring amid legal battles with Elon Musk.
Meanwhile, legislation targeting AI chip tracking gained momentum, and the nuclear energy sector saw increased activity with Ontario Power Generation’s new reactor project and potential White House actions.
Earnings reports from major players like Palantir (NASDAQ:PLTR), AMD (NASDAQ:AMD), Arm Holdings (NASDAQ:ARM) and Super Micro Computer (NASDAQ:SMCI) painted a complex picture of growth and challenges in a turbulent economic environment.
The interplay of innovation, regulation and market forces played out against a backdrop of trade developments between the US and the UK, with optimism regarding forthcoming negotiations with China boosting sentiment toward the end of the week.
Read on to dive deeper into this week’s top stories.
1. Apple’s App Store appeal, AI search plans and chip news
Apple is formally contesting last week’s judicial ruling mandating a reduction in its App Store commission.
The company filed an appeal against the order that would compel it to lower the existing 27 percent fee imposed on businesses offering links within their apps to external payment processing alternatives.
In related news, Apple executive Eddy Cue revealed during federal court testimony that the tech giant is investigating the development of its own AI-powered search engine for the Safari web browser. The news had an immediate impact on Alphabet’s (NASDAQ:GOOGL) shares, resulting in a 9 percent decline on Wednesday (May 7) afternoon.
In other news, Apple is reportedly making advances in its in-house silicon development.
The company is designing new proprietary chips intended to serve as the main central processing units for a range of future Apple products. These include anticipated devices such as smart glasses, more powerful iterations of its Mac computer line and specialized AI servers.
Combined with this week’s macroeconomic and geopolitical developments, Apple’s share price experienced turbulence, ultimately closing 2.25 percent below Monday’s (May 5) opening price on Friday (May 9).
2. OpenAI announces restructuring, acquisition and leadership changes
In a notable week for AI giant OpenAI, CEO Sam Altman shared a reorganization strategy on Monday, announcing that its operational arm will transition into a new public benefit corporation, with its non-profit arm acting as the primary shareholder. The decision follows talks with civic leaders and state attorneys general.
A person familiar with the matter told Business Insider that the new plan will let the company receive the full US$30 billion investment from SoftBank (TSE:9984). Meanwhile, sources told Bloomberg on Monday that Microsoft (NASDAQ:MSFT) and OpenAI are still in negotiations regarding a restructuring plan. A later report from the Information reveals that OpenAI plans to slash its 20 percent revenue-sharing agreement with Microsoft to 10 percent by 2030.
Regarding the ongoing legal dispute between Sam Altman and Tesla (NADAQ:TSLA) CEO Musk, who alleges that the company has strayed from its founding mission, Musk’s attorney, Marc Toberoff, told Reuters on Monday that the team intends to proceed with the lawsuit. Toberoff also called the restructuring a “cosmetic” move that turns charitable assets into private wealth, adding that “the founding mission remains betrayed.”
In other news, OpenAI made its largest acquisition to date this week, agreeing to buy AI-assisted coding tool Windsurf for about US$3 billion, and named ex-Instacart (NASDAQ:CART) CEO Fidji Simo as its new head of applications.
According to reports, Simo will manage operations and report directly to Sam Altman, who will retain his title as CEO. Altman will shift his focus to research, safety efforts and advancing artificial general intelligence.
3. AI chip regulatory developments
US Representative Bill Foster is preparing to introduce legislation aimed at tracking the location of AI chips, such as those produced by NVIDIA (NASDAQ:NVDA), after they are sold.
The proposed bill, first reported by Reuters on Monday, would task US regulators with developing rules to monitor these chips, ensuring they remain in authorized locations under export control licenses.
It would also seek to prevent unlicensed chips from being activated outside of authorized locations.
In other chip-related news, NVIDIA shares rose following news that the Trump administration plans to eliminate the so-called “AI diffusion rule.” However, a spokesperson from the US Department of Commerce clarified upcoming plans in a statement to CNBC’s Kif Leswing on Wednesday, commenting:
“The Biden AI rule is overly complex, overly bureaucratic, and would stymie American innovation. We will be replacing it with a much simpler rule that unleashes American innovation and ensures American AI dominance.”
The announcement highlights the Trump administration’s intention to keep some guardrails in place to protect US interests, despite pushback from tech industry executives.
At a Congressional hearing on Thursday (May 8), OpenAI CEO Sam Altman emphasized the importance of maintaining US leadership in AI development. He cautioned against overregulation, warning that poorly designed rules could hinder America’s competitive edge, particularly against China.
4. Palantir, AMD, Arm and Super Micro share results
Palantir’s Q1 revenue rose 39 percent year-on-year to US$884 million, driven by demand for its data analytics software in the US. The company expects demand to continue, forecasting Q2 revenue between US$934 million and US$938 million. Palantir’s share price fell by 8 percent after hours as investors anticipated even stronger results. The company posted a loss of 5.6 percent for the week after a volatile week for tech stocks, as overvaluation concerns persist.
Advanced Micro Devices’ Q1 earnings report shows quarterly revenue of US$7.4 billion, an annual increase of 36 percent, with adjusted earnings per share of US$0.96. Despite an initial 7 percent stock surge following a positive quarterly report, AMD shares fell following the company’s announcement of a projected US$1.5 billion revenue decrease this year, attributed to US government limitations on the sale of AI chips to China.
Palantir, Super Micro, AMD and Arm performance, May 6 to 9, 2025.
Chart via Google Finance.
For Q4 2024, Arm Holdings reported quarterly revenue of more than US$1 billion for the first time in its history, but forecast revenue and profit for Q1 2025 below Wall Street estimates, resulting in a 4 percent slump on Thursday morning
Super Micro Computer’s net sales increased from US$3,85 billion in Q3 2024 to US$4.6 billion, while the company’s earnings per share fell year-on-year from US$0.66 to US$0.17.
The company lowered its full-year revenue guidance from US$23.5 billion to US$25 billion, down to US$21.8 billion to US$22.6 billion, with trade war-induced uncertainty and increasing competition cited as obstacles to growth. The company’s share price opened over 5 percent lower the next day and fell by over 3 percent this week.
5. Constellation shares jump, White House plans reactor push
Shares of Constellation Energy (NASDAQ:CEG) rose nearly 10 percent in two days ahead of the Tuesday (May 6) release of its Q1 earnings report, which revealed revenue that exceeded expectations by over 20 percent.
Later, during an earnings call, CEO Joe Dominguez said the company was close to inking multiple long-term deals to provide nuclear power to meet surging energy demands, further bolstering investors’ optimistic outlook.
In another significant development within the nuclear energy sector, Ontario Power Generation said it has secured the necessary approvals to commence construction on the first of four small modular reactors (SMR) designed by GE Verona (NYSE:GEV), which will be located at the company’s Darlington site near Toronto.
The Darlington project is anticipated to be the first deployment of this particular SMR technology within a G7 nation.
Separately, Axios reported on Tuesday that sources familiar with the matter say the White House is in the final stages of preparing executive actions intended to accelerate the deployment of nuclear reactors. These plans, reportedly under consideration for several weeks, could be officially announced imminently.
On Friday, NPR said its reporters have seen a draft of such an order. According to the report, the order instructs the Nuclear Regulatory Commission (NRC) to send new reactor safety guidelines to the White House for review and possible amendments. The draft also calls for a reduction of NRC’s staff and a “wholesale revision of its regulation” in coordination with the administration and the Department of Government Efficiency.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Here’s a quick recap of the crypto landscape for Friday (May 9) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$103,116 as markets closed for the week, up 2 percent in 24 hours.
The day’s range has seen a low of US$102,526 and a high of US$103,636. After breaking through the US$100,000 threshold on Thursday (May 8), the digital asset has found support.
Bitcoin performance, May 9, 2025.
Chart via TradingView.
The crypto market’s surge is attributed to positive geopolitical developments, particularly surrounding a US-UK trade agreement and optimism over upcoming trade talks with China.
A better-than-expected jobs report also reignited institutional interest. Meanwhile, the MOVE index has cooled from its late March-early April spike, encouraging broader risk-taking across financial markets.
On the technical side, Bitcoin’s realized cap has hit an all-time high above US$893 million. Cointelegraph’s Marcel Pechman notes that strong options activity suggests that prices above US$105,000 could fuel further gains. Analyst Egrag Crypto is forecasting a rally to US$170,000, contingent on Bitcoin breaking past its previous all-time high of US$109,000.
However, with Bitcoin’s relative strength index approaching 70, overbought conditions are emerging, and investors are urged to be cautious of short-term volatility.
Ethereum’s (ETH) price surge has outperformed that of Bitcoin and can be attributed to an increase in transactions following Wednesday’s (May 7) Pectra upgrade. ETH’s price has increased by over 25 percent from last week and 42 percent month-on-month. It finished the week at US$2,325.35, a 10 percent increase over 24 hours.
The day’s range saw a low of US$2,288.24 and a high of US$2,372.09.
Altcoin price update
- Solana (SOL) closed at US$171.67, up 7.1 percent over 24 hours. SOL experienced a low of US$168.64 and a high of US$172.75.
- XRP was trading at US$2.35, reflecting a 3.6 percent increase over 24 hours. The cryptocurrency reached a daily low of US$2.33 and a high of US$2.40.
- Sui (SUI) was priced at US$3.89, showing a decreaseof 0.6 percent over the past 24 hours. It achieved a daily low of US$3.87 and a high of US$4.03.
- Cardano (ADA) was trading at US$0.7799, up 5.5 percent over the past 24 hours. Its lowest price of the day was US$0.7763, and it reached a high of US$0.7953.
Today’s crypto news to know
Coinbase to acquire Deribit in US$2.9 billion crypto derivatives deal
Coinbase has announced plans to acquire Deribit, a leading crypto derivatives exchange, for $2.9 billion — the largest deal in the crypto industry to date. This strategic move positions Coinbase to expand its offerings in the crypto options market, catering to the growing demand for advanced trading products.
The acquisition includes US$700 million in cash and 11 million shares of Coinbase Class A common stock.
Deribit, which processed US$1.2 trillion in trading volume last year, controls approximately 85 percent of the global crypto options market. This deal is expected to enhance Coinbase’s presence in the international derivatives market and diversify its revenue streams. Analysts view the acquisition as a significant step for Coinbase to compete with other major exchanges like Binance and Kraken in the derivatives space. The transaction is subject to regulatory approvals and is anticipated to close later this year. Until then, Deribit will continue its operations as usual.
Rumble’s crypto wallet launch and Q1 earnings
Rumble’s (NASDAQ:RUM) CEO confirmed the firm will launch a Bitcoin and stablecoin wallet to compete with the Coinbase Wallet in Q3. The Rumble Wallet will launch in partnership with Tether.
“Our goal is to become the most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy,” according to a May 9 (Friday) X post by Chris Pavlovski.
On the earnings front, Rumble reported a net loss of US$2.7 million for Q1 on Thursday, a significant improvement over the US$43 million loss reported in Q1 2024. The company’s revenue of US$23.7 million exceeded analysts’ estimates; however, the firm reported a decrease in monthly active users to 59 million, down from 68 million in Q4 2024.
Rumble opened 2.44 percent higher on Friday (May 9) and closed the week with a gain of over 17 percent.
Meta’s potential stablecoin integration
Meta Platforms (NASDAQ:META) is reportedly in discussions with cryptocurrency enterprises regarding the potential implementation of stablecoins for select, smaller-scale creator disbursements.
Five informed sources told Fortune that the corporation has engaged in consultative deliberations with multiple cryptocurrency infrastructure providers, albeit without having yet settled upon a definitive strategic approach.
An insider suggests that the entity may adopt a multi-token framework, encompassing the integration of established stablecoins such as Tether’s USDt and Circle’s USD Coin, amongst other alternatives.
This news comes the day after Democratic lawmakers withdrew support for the GENIUS Act after concerns arose over the lucrative crypto dealings of companies tied to US President Donald Trump. The bill stalled on the floor of the Senate, prompting a public statement from US Treasury Secretary Scott Bessent:
“This bill represents a once-in-a-generation opportunity to expand dollar dominance and US influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework.’
Celsius founder sentenced to 12 years for crypto fraud
Alex Mashinsky, founder and former CEO of Celsius Network, has been sentenced to 12 years in federal prison for defrauding customers and manipulating the price of the company’s CEL token.
Between 2018 and 2022, Mashinsky misled investors about the safety of their funds, using customer deposits to inflate CEL’s value and personally profiting over US$48 million. Celsius, which once managed over US$25 billion in assets, collapsed in 2022 amid a broader crypto market downturn, leaving thousands of users unable to access their funds.
SEC considers crypto exemptions
The US Securities and Exchange Commission (SEC) is “considering a potential exemptive order” to let crypto firms bypass requirements to register as a broker-dealer, clearing agency exchange to issue, trade and settle securities. SEC Commissioner Hester Peirce made the announcement in a speech published on Thursday.
Companies would still be expected to comply with rules to prevent fraud and market manipulation and may also need to meet certain disclosure and recordkeeping requirements.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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The US Federal Reserve met on Tuesday (May 6) and Wednesday (May 7) for the third time in 2025. Ultimately, the committee decided to maintain its benchmark rate in the 4.25 to 4.5 percent range that was last set in November 2024.
Fed Chair Jerome Powell cited balance in the central bank’s dual mandate of price stability and maximum employment, but noted that the Trump administration’s tariffs have been more aggressive than anticipated. This was a prime factor in the Fed’s rate decision — officials are waiting for more data on how tariffs will affect inflation and employment.
On Thursday (May 8), the White House announced a trade deal with the UK. Although initial details of the deal were limited, what was provided indicates the UK will reduce or eliminate non-tariff barriers for US products and companies.
Among them are provisions for improved access to the UK market for US farmers and cattle ranchers and an increase in US ethanol exports. In exchange, the US will ease tariffs on British auto imports, with the first 100,000 vehicles being taxed at the 10 percent reciprocal rate and 25 percent on any additional vehicles.
Additionally, new negotiations will be held for an alternative arrangement to tariffs on steel and aluminum products from the UK. However, the deal does not remove the 10% reciprocal tariffs on any imports from the UK.
North of the border, Statistics Canada released its April labor force survey on Friday (May 9). The data showed little change in employment throughout the month, with just 7,500 jobs added to the workforce. Meanwhile, the employment rate declined 0.1 percent to 60.8 percent and the unemployment rate ticked up 0.2 percent to 6.9 percent.
The biggest increase of 37,000 new jobs was owed to the hiring of temporary workers related to the recent federal election. The next highest gains were in the finance, insurance and real estate sector, where 24,000 workers were added. The biggest losses were felt in manufacturing, which declined by 31,000 workers, and wholesale and retail trade, which shed 27,000 workers.
Markets and commodities react
In Canada, major indexes were mixed at the end of the week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1.46 percent during the week to close at 25,357.74 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up 3.57 percent to 683.4 and the CSE Composite Index (CSE:CSECOMP) falling 0.41 percent to 119.12.
US equities were flat this week, with the S&P 500 (INDEXSP:INX) flat gaining 0.08 percent to close at 5,659.90, the Nasdaq-100 (INDEXNASDAQ:NDX) gaining 0.67 percent to 20,061.45 and the Dow Jones Industrial Average (INDEXDJX:.DJI) rising 0.18 percent to 41,249.37.
The gold price strengthened in the middle of the week but remained off recent highs, but still managed to post a 2.72 percent gain, closing out Friday at US$3,328.93.
The silver price was also up, rising 2.38 percent during the period to US$32.76.
In base metals, the COMEX copper price was flat, falling just 0.64 percent over the week to US$4.66 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) rose 2.18 percent to close at 531.54.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.
1. Group Eleven Resources (TSXV:ZNG)
Weekly gain: 69.44 percent
Market cap: C$53.2 million
Share price: C$0.305
Group Eleven Resources is an exploration company working to advance its flagship PG West zinc, lead, copper and silver project in the Republic of Ireland. The wholly owned asset consists of 22 prospecting licenses covering 650 square kilometers and hosts the main Ballywire prospect, which was discovered in 2022.
Shares in Group Eleven gained this past week after an exploration announcement on Thursday.
The company reported assay results from four holes at Ballywire, with one highlighted copper and silver result recording grades of 1.46 percent copper and 356 grams per metric ton (g/t) silver over 19.9 meters.
It includes an intersection of 3.72 percent copper and 838 g/t silver over 6.4 meters.
It also reported an additional zinc, lead and silver hole with grades of 3.1 percent zinc, 1.4 percent lead and 22 g/t silver over 47.1 meters, which included an intersection of 7.7 percent zinc, 3.2 percent lead and 57 g/t silver over 12.9 meters.
2. Element 29 Resources (TSXV:ECU)
Weekly gain: 66.67 percent
Market cap: C$61.62 million
Share price: C$0.50
Element 29 Resources is an exploration company focused on advancing a portfolio of projects in Peru.
Its primary projects consist of the Elida copper-molybdenum-silver project in West-Central Peru and the Flor de Cobre project in the Southern Peruvian copper belt. The Elida site is composed of 29 concessions covering 19,749 hectares and hosts five distinct exploration targets within a 2.5 by 2.5 kilometer alteration system.
A September 2022 resource estimate shows an inferred resource of 321.7 million metric tons (MT) containing 2.24 billion pounds of copper at a grade of 0.32 percent, 205.7 million pounds of molybdenum at a grade of 0.03 percent and 27 million ounces of silver at 2.61 percent.
The company’s less explored Flor de Cobre project is composed of 11 mining concessions and one mining claim covering 3,135 hectares. The company announced in March that it received environmental permitting for the site and would be partnering with the GlobeTrotters Resource Group, which discovered Elida, on exploration at For de Cobre.
Shares of Element 29 posted gains this week, but the company did not share any news.
3. Giant Mining (CSE:BFG)
Weekly gain: 56.1 percent
Market cap: C$18.48 million
Share price: C$0.32
Giant Mining is an exploration company working to advance its Majuba Hill District copper, silver and gold project north of Reno, Nevada. The site consists of 403 federal lode mining claims and four private property parcels that cover an area of 3,919 hectares. Mining at the property took place between 1900 and 1950, resulting in the production of 2.8 million pounds of copper, 184,000 ounces of silver and 5,800 ounces of gold.
Extensive exploration work has been carried out at Majuba Hill, with 89,930 feet being drilled since 2007.
The most recent news from the project includes a pair of releases this week.
First, on Wednesday, the company announced that it has completed four of the five planned drill holes in its 2025 exploration program, with one of the samples sent to the lab for analysis.
The second release came on Thursday, when Giant announced that it has begun drilling the final hole of the program and expected to reach a depth of 1,000 feet. The company said the current program was designed with artificial intelligence to expand the known zones of copper mineralization and advance the project toward a mineral resource estimate.
4. PPX Mining (TSXV: PPX)
Weekly gain: 55.56 percent
Market cap: C$44.58 million
Share price: C$0.07
PPX Mining is a precious metals company that is focused on its Igor project, which contains the operating Callanquitas underground mine, located in the Otuzco province of Northern Peru.
An updated resource estimate for Callanquitas released by the company in January 2024 shows measured and indicated amounts as oxides of 81,090 ounces of gold and 2.9 million ounces of silver. The inferred resource as sulfides stands at 34,450 gold equivalent ounces at 4.63 g/t gold equivalent.
In a prefeasibility study for Igor, which was amended in January 2022, the company indicates that the 1,300 hectare site previously hosted small-scale mining operations and holds a 50 MT per day gold-processing plant from the 1980s. In November 2024, PPX announced that it had started construction of a 350 MT per day carbon-in-leach and flotation plant that will be used to process oxide and sulfide ore from Callanquitas.
The latest construction update came on March 26, when the company said major plant equipment was ready to ship from China. The equipment includes crushing plant units, metal detectors, ball mills and flotation cells. The company has not provided a further update on the timeline for when the shipments would arrive on site.
The most recent news from PPX came on Monday (May 5), when it announced that it had closed an oversubscribed non-brokered private placement. The terms of the funding will see the company issue 17.83 million shares for gross proceeds of C$802,303. Funding raised will be used for further exploration of Callanquitas and general working capital.
5. Triumph Gold (TSXV:TIG)
Weekly gain: 50 percent
Market cap: C$11.97 million
Share price: C$0.03
Triumph Gold is an explorer and developer advancing projects in the Yukon and BC, Canada.
Its three properties in the Yukon are all within the Dawson Range and consist of its flagship Freegold Mountain project, which has 20 identified mineral resources hosting gold, silver, copper, molybdenum, lead and zinc deposits; the Tad/Toro copper, gold and molybdenum project; and the Big Creek copper and gold project.
Triumph’s property in Northern BC is called Andalusite Peak.
The most recent update from the company came on Wednesday, when it announced it has refined its exploration focus on geochemical surveys and detailed geological mapping at the Andalusite Peak project, as well as defining new targets at Freegold Mountain. Additionally, the company said it has engaged Independent Trading Group to provide market-making services and enhance the liquidity of common shares.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
America’s supply chain is under attack.
From coast to coast, organized criminal groups are hitting trucks on the road, breaking into warehouses and pilfering expensive items from train cars, according to industry experts and law enforcement officials CNBC interviewed during a six-month investigation.
It’s all part of a record surge in cargo theft in which criminal networks in the U.S. and abroad exploit technology intended to improve supply chain efficiency and use it to steal truckloads of valuable products. Armed with doctored invoices, the fraudsters impersonate the staff of legitimate companies in order to divert cargo into the hands of criminals.
The widespread scheme is “low risk and a very high reward,” according to Keith Lewis, vice president of Verisk CargoNet, which tracks theft trends in the industry.
“The return on investment is almost 100%,” he said. “And if there’s no risk of getting caught, why not do it better and do it faster?”
In 2024, Verisk CargoNet recorded 3,798 incidents of cargo theft, representing a 26% increase over 2023.
Total reported losses topped nearly $455 million, according to Verisk CargoNet, but industry experts told CNBC that number is likely lower than the true toll because many cases go unreported. Numerous experts who spoke to CNBC estimate losses are close to $1 billion or more a year.
Train cargo thefts alone shot up about 40% in 2024, with more than 65,000 reported incidents, according to the Association of American Railroads.
Industry experts and law enforcement officials say a more sophisticated and insidious form of cargo theft called strategic theft is also on the rise.
The way the system is supposed to work is this: A shipper pays a broker, and the broker, after taking its fee, pays the carrier, the trucking company that moves the load.
In strategic theft, criminals use deceptive tactics to trick shippers, brokers or carriers into handing cargo or legitimate payments, sometimes both, over to them instead of the legitimate companies.
This post appeared first on NBC NEWS
When your investment portfolio isn’t gaining ground, it’s natural to feel uneasy, especially in a market that lacks direction. A headline-driven environment only adds to the uneasiness, making it more difficult to decide whether to buy, hold, or sell.
This is a challenging situation for investors. The S&P 500 ($SPX) is still hovering close to its “Liberation Day” level, struggling to break above it. Of the three major indexes, the Nasdaq Composite ($COMPQ) was able to break above the April 2 levels, but is having a hard time reaching its March 25 high, which, as of this writing, aligns with its 200-day simple moving average (SMA).
What’s Behind the Lack of Direction?
Much of the market’s indecision centers on uncertainty surrounding tariffs. Trade deals are front and center in the news, with the most important one being with China. Those talks kick off this weekend. While President Trump’s suggestion of lowering the tariffs against China from 145% to 80% was a step, stocks didn’t react much. It’s still a very high rate and probably not what investors wanted to hear, and thus the market ultimately closed lower on Friday.
The S&P 500’s recent trading behavior reflects the uncertainty. In the last seven trading days, movement has been muted, a drastic change from the wide-ranging days of early April (see chart below). Of late, any optimistic news gets investors a little upbeat, but the enthusiasm fades quickly.
FIGURE 1. DAILY CHART OF S&P 500. The last seven days are narrow range days, unlike the wide-ranging days from early April.Chart source: StockCharts.com. For educational purposes
Sector performance isn’t showing clear dominance either. On strong days, Consumer Discretionary, Technology, and Communication Services take the lead. On weaker days, defensive areas like Utilities, Energy, and Consumer Staples step in. This flip-flopping suggests investors lack conviction.
Mid and Small-Caps: Gaining Momentum
The S&P 400 Mid Cap Index ($MID) and S&P 600 Small Cap Index ($SML) posted five straight weeks of gains. This was picked up from the Market Summary page (Equities panel, weekly streak column). This warrants a closer look at these two asset groups.
Mid-cap stocks are showing slight signs of recovery. In the weekly chart of the S&P 400 Mid Cap Index, the index is approaching a near-term resistance level (blue dashed line), the percentage of stocks trading above their 200-day moving average is trending higher, and there’s no consistent move in the Advance-Decline Percent or Advance-Decline Volume Percent.
FIGURE 2. WEEKLY CHART OF S&P 400 MID-CAP INDEX. There are signs of the start of an upside move, but far from confirmed. Chart source: StockCharts.com. For educational purposes.
The weekly chart of the S&P 600 Small Cap Index mirrors the behavior in $MID—$SML is trading above its 10-week simple moving average, the percentage of stocks trading above its 200-day moving average is rising, and there’s a slight increase in the Volume Advance-Decline Percent.
FIGURE 3. WEEKLY CHART OF S&P 600 SMALL CAP INDEX. Similar to the chart in Figure 2, small-cap stocks are also showing slight signs of a potential rally, although it’s a long way away from confirming an uptrend. Chart source: StockCharts.com. For educational purposes.
Mid- and small-cap stocks didn’t participate much in the large-cap Mag 7 bull rally. Maybe things are beginning to look better for these stocks, especially if large-cap growth stocks get bogged down by tariffs.
Looking at the three-month performance across the S&P Sector ETFs, Utilities and Consumer Staples are the best performers, followed by Real Estate and Industrials.
FIGURE 4. THREE-MONTH PERFCHART OF S&P SECTOR ETFS. Consumer Staples and Utilities are the top performers over the last three months, followed by Real Estate and Industrials.Chart source: StockCharts.com. For educational purposes.
If your portfolio leans heavily toward mid- and small-cap stocks, it may be worth monitoring the performance of these groups. These stocks can rally quickly, but can also fade just as quickly. If you’ve been holding on to those stocks for over a decade, a big upside move could offer an opportunity to take profits or re-evaluate your portfolio.
The Bottom Line: Be Prepared
Next week promises a slew of market-moving news: earnings reports, trade deals, and key inflation data. It may be best to stay on the sidelines until the market digests the news. However, if you see a chance to take profits or reduce risk, don’t let them slip away.
End-of-Week Wrap-Up
- S&P 500 down 0.47% on the week, at 5659.91, Dow Jones Industrial Average down 0.16% on the week at 41,249.38; Nasdaq Composite down 0.27% on the week at 17,928.92.
- $VIX down 3.44% on the week, closing at 21.90.
- Best performing sector for the week: Industrials
- Worst performing sector for the week: Health Care
- Top 5 Large Cap SCTR stocks: Palantir Technologies, Inc. (PLTR); Duolingo Inc. (DUOL); Robinhood Markets Inc. (HOOD); MicroStrategy (MSTR); Applovin Corp. (APP)
On the Radar Next Week
- Earnings season continues with several small and mid-cap companies reporting.
- April Consumer Price Index (CPI)
- April Producer Price Index (PPI)
- April Retail Sales
- Fed speeches from Powell, Jefferson, Daly, and others.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
Last Friday, the S&P 500 finished the week just below 5700. The question going into this week was, “Will the S&P 500 get propelled above the 200-day?” And as I review the evidence after Friday’s close, I’m noting that the SPX is almost exactly where it was one week ago!
That’s right–after all the headlines, tariff tantrums, and earnings reports, the S&P 500 ended the week 0.4% below where it started. This “lack of conviction” week led me to post the following poll on X, asking followers to decide which they felt would happen first: a retest of the February 2025 high or a retest of the April 2025 low.
I was actually quite surprised that there wasn’t more optimism after April’s incredible rally phase, but you can see that 55% of respondents thought the February high around 6150 would be hit first. So unlike the AAII survey’s recent readings, there appear to be more bulls than bears out there.
Based on this week’s extended choppiness, I thought it might be good to revisit an approach called “probabilistic analysis” to consider four potential paths for the S&P 500 between now and late June 2025. Basically, I’ll share four different scenarios, describe the market conditions that would likely be involved, and also share my estimated probability for each scenario.
By the way, we last ran this analytical process on the S&P 500 back in January, and you need to see which scenario actually played out!
And remember, the point of this exercise is threefold:
- Consider all four potential future paths for the index, think about what would cause each scenario to unfold in terms of the macro drivers, and review what signals/patterns/indicators would confirm the scenario.
- Decide which scenario you feel is most likely, and why you think that’s the case. Don’t forget to drop me a comment and let me know your vote!
- Think about how each of the four scenarios would impact your current portfolio. How would you manage risk in each case? How and when would you take action to adapt to this new reality?
Let’s start with the most optimistic scenario, with the S&P 500 index continuing the recent uptrend phase to retest all-time highs by June.
Option 1: The Super Bullish Scenario
Our most bullish scenario would mean that the aggressive rally phase off the April low would essentially continue in its current form. After perhaps the briefest of pullbacks at the 200-day moving average, we continue to the upside. This scenario would most likely mean the Magnificent 7 stocks would have to really find their mojo, with names like GOOGL, AAPL, and AMZN finally breaking through their 200-day moving averages.
Dave’s Vote: 10%
Option 2: The Mildly Bullish Scenario
What if the S&P 500 stalls around the 200-day, with a pullback that inspires even more indecision among investors? Perhaps we are still in “wait and see” mode as some tariff negotiations prove fruitful, but empty shipping containers remind consumers of the prospects of chronic inflation. By mid-June, we’re no closer to a real clear sense of direction than we are today.
Dave’s vote: 30%
Option 3: The Mildly Bearish Scenario
Because of the time frame I’ve selected, there won’t be another Fed meeting until after this period is over. So, what if inflation data starts to imply real price issues, consumer sentiment really starts to falter, and the Fed is unable to take any meaningful action to address mounting concerns? If we fail to push above the 200-day moving average soon, then 5500 would be a likely area of support on the way down. This scenario brings us right back down to that level.
Dave’s vote: 40%
Option 4: The Very Bearish Scenario
You always need a bear case, and this one would entail a new distribution phase that takes the major benchmarks down to retest the April low. I’d say a reasonable downside objective would be 5100, and we’ll spend the month of June debating whether we’re forming a huge double bottom pattern or see another bounce higher. Defensive sectors shine as investors rotate big time to risk-off positions.
Dave’s vote: 20%
What probabilities would you assign to each of these four scenarios? Check out the video below, and then drop a comment with which scenario you select and why!
RR#6,
Dave
P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!
David Keller, CMT
President and Chief Strategist
Sierra Alpha Research LLC
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.