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Top 5 Canadian Mining Stocks This Week: Orosur Jumps 92 Percent on Assays

On Monday (February 3), the United States reached agreements with Canada and Mexico that narrowly averted the start of a trade war as tariffs set to begin Tuesday (February 4) were paused for 30 days.

Both Canada and Mexico offered plans to increase security at their respective borders with the United States, some of which were already planned and underway. This aligned with US President Donald Trump’s stated goal with the tariffs of increased border monitoring as he claimed there were increasing numbers of illegal migrants and high volumes of fentanyl entering into the United States.

Both Canada and the US released upbeat job reports on Friday (February 7) indicating strong employment gains in both countries.

Statistics Canada reported that 76,000 jobs were added to the Canadian economy in January, the majority of which were in the private sector. Manufacturing contributed 33,000 new workers, and professional, scientific and technical services added 22,000.

This marks the third consecutive month of net gains following the addition of 91,000 jobs in December and 44,000 in November. The agency indicated that over the past three months, 147,000 full-time jobs were added, while part-time labor increased by 64,000.

The additional workers entering the labor force pushed the unemployment rate down by 0.1 percent from the previous month to 6.6 percent.

Meanwhile, south of the border, the US Bureau of Labor Statistics released its employment situation summary, which indicated that 143,000 new jobs were added in January. Large gains were seen in healthcare with 44,000 new jobs during the month. Retail trade increased by 34,000 and social assistance jobs saw gains of 22,000 new workers.

Overall, the employment rate edged down to 4 percent from the 4.1 percent recorded in December, marking the lowest level since May 2024.

Markets and commodities react

While markets saw small losses on Friday, they were broadly positive over the past five days, with the S&P 500 (INDEXSP:INX) gaining 0.94 percent to end Friday at 6,025.98 while the Nasdaq 100 (INDEXNASDAQ:NDX) gained 1.93 percent to 21,491.31. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) was flat, gaining just 0.08 percent to 44,303.41.

In Canada, the S&P/TSX Venture Composite Index (INDEXTSI:JX) saw a 4.95 percent gain on the week to close at 639.28 on Friday (February 7). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 1.21 percent increase to hit 25,442.91 and the CSE Composite Index (CSE:CSECOMP) jumped 3.47 percent to reach 135.64.

Gold saw further gains this week as it continued to set new all time highs. Overall, the gold price increased 2.26 percent during the week to close at US$2,861.49 per ounce on Friday at 5 p.m. EST. Silver performed strongly as well, closing the week up 1.61 percent at US$31.80.

In base metals, the copper price surged 7.67 percent for the week to close at US$4.63 per pound on the COMEX, and the S&P GSCI (INDEXSP:SPGSCI) was largely flat, posting a 0.24 percent gain to close at 563.24.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop? We break down this week’s five best-performing Canadian mining stocks below.

Data for this article was retrieved at 4:00 p.m. EST on February 7, 2024, 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. Orosur Mining (TSXV:OMI)

Company Profile

Weekly gain: 91.67 percent
Market cap: C$45.19 million
Share price: C$0.23

Orosur Mining is an exploration company focused on the development of early to advanced-stage assets in South America.

Exploration has revealed multiple gold deposits at its flagship Anzá gold project in Colombia, which is located 50 kilometers west of Medellin and sits along Colombia’s primary gold belt.

Orosur also owns several early-stage projects, the El Pantano gold-silver project in Argentina, the Lithium West project in Nigeria and the Ariquemes project in Brazil, which is prospective for tin, niobium and rare earths.

The Anzá gold project was previously a 49/51 joint venture with Minera Monte Aguila (MMA), a corporation owned equally by Newmont (TSX:NGT,NYSE:NEM) and Agnico Eagle Mines (TSX:AEM,NYSE:AEM).

Orosur shares have seen significant gains since the end of November 2024 when the company announced that it had completed its acquisition of MMA, giving Orosur 100 percent indirect ownership of the Anzá gold project.

Following the transaction’s completion, exploration resumed at the project’s Pepas prospect in mid-November to test high-grade results from a 2022 drill program. The company announced its most recent drill results on Tuesday, saying it had encountered high-grade gold over long intervals beginning at surface. One highlighted intercept assayed up to 7.24 grams per metric ton (g/t) gold over 76.3 meters.

2. Almonty Industries (TSX:AII)

Company Profile

Weekly gain: 64.1 percent
Market cap: C$480.52 million
Share price: C$1.92

Almonty Industries is a tungsten and molybdenum mining and development company focused with operations in Spain, Portugal and South Korea.

It is currently working on developing the Sangdong tungsten-molybdenum mine in South Korea, which hosts the largest tungsten deposit in the world. The mine is expected to begin production at the end of 2026 and has an anticipated mine life of 60 years. When fully ramped up the mine is projected to have an annual throughput of 640,000 metric tons, and will deliver 5,600 metric tons of molybdenum.

On January 29, Almonty announced it had entered into an offtake agreement with SeAH Group (KRX:058650) subsidiary SeAH M&S, a Korean metals company supplying the steel industry. SeAH M&S will purchase the entire production of molybdenum for the life of the Sangdong mine with a hard floor price of US$19 per pound.

Almonty also operates the Los Santos mine in Spain and the Panasqueira mine in Portugal, both producing high-grade tungsten concentrate.

In addition to the offtake agreement Almonty also announced on January 19 its intention to relocate its jurisdiction of incorporation from Canada to the US state of Delaware. It said it would maintain its listings on both the TSX and ASX.

Shares in Almonty began trading higherthis week after China announced on Tuesday it would be restricting metals exports, including tungsten and molybdenum, in response to US trade tariffs.

3. Blue Lagoon Resources (CSE:BLLG)

Company Profile

Weekly gain: 89.29 percent
Market cap: C$20.58 million
Share price: C$0.265

Blue Lagoon Resources is an exploration and development company focused on advancing its gold and silver projects in British Columbia, Canada.

Its flagship Dome Mountain gold project, located near Smithers, BC, is a past-producing asset composed of 26 claims covering 21,000 hectares and hosts 15 known high-grade gold veins.

A February 2022 updated mineral resource estimate (MRE) from the site demonstrated measured resources of 45,000 ounces of gold and 250,000 ounces of silver from 136,000 metric tons with average grades of 10.32 g/t gold and 57.31 g/t silver. Additionally, the MRE reported indicated resources of 173,000 ounces of gold and 876,000 ounces of silver from 662,000 metric tons of ore grading 8.15 g/t gold and 41.19 g/t silver.

Blue Lagoon’s shares saw significant gains this week after the company announced on Thursday (February 6) that it had received the final mine permits and is preparing to begin mining operations as soon as July 2025.

“We are delivering to our shareholders one of only a handful of mining permits granted in British Columbia over the last decade,” Chief Geologist Bill Cronk said.

Once in operation, annual production will be limited to 55,000 metric tons of ore, from which the company expects to recover 15,000 ounces of gold.

4. Electric Metals USA (TSXV:EML)

Company Profile

Weekly gain: 58.33 percent
Market cap: C$13.75 million
Share price: C$0.095

Electric Metals is a mineral development company focused on advancing its flagship Emily manganese project in Minnesota, US.

According to the company, the asset is North America’s highest-grade manganese resource. A May 2024 MRE shows Emily hosts an indicated resource of 6.23 million metric tons with grades of 19.27 percent manganese and 22.41 percent iron with an additional inferred resource of 4.91 million metric tons with grades of 17.5 percent manganese and 20.44 percent iron with a cut off of 10 percent manganese.

Shares in Electric Metals have seen recent gains after a January 28 news release when the company announced it was starting work on a preliminary economic assessment for the Emily manganese project. It expects the report to be completed during the second quarter of 2025.

5. Goldgroup Mining (TSX:GGA)

Company Profile

Weekly gain: 51.22 percent
Market cap: C$34.79 million
Share price: C$0.31

Goldgroup Mining is a gold production, development and exploration company working to advance its Cerro Prieto heap-leach gold mine.

The 4,335-hectare property, located in Sonora, Mexico, produces an annual average of 11,500 ounces of gold and has produced more than 120,000 ounces since its beginning in March 2013.

Goldgroup is currently working to double the capacity of the mine to more than 25,000 ounces per year. The last update on the progress came in October 2024, when it announced that it had installed the primary crusher with a 2,200 metric ton per day throughput. It also said it had expanded pumping and irrigation capacity.

Goldgroup’s most recent news came on February 6, when it announced that all shareholders holding share purchase warrants from financing rounds completed in September and November 2024 had informed the company they would exercise all outstanding warrants. The company had previously informed shareholders it was accelerating the warrants, changing the expiry date to February 9. Goldgroup will receive gross proceeds of C$1.87 million.

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 companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 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

Ethereum Sentiment Declines Amid Regulatory Concerns

Galaxy Digital CEO Mike Novogratz recently highlighted a significant decline in Ethereum sentiment, describing it as “unbelievably bearish.” He attributes this downturn primarily to increased regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC). This heightened oversight has raised concerns among investors about Ethereum’s future in the cryptocurrency market.

Regulatory Challenges Impacting Ethereum

Novogratz points to the SEC’s actions, particularly under former Chairman Gary Gensler, as a major factor in Ethereum’s underperformance compared to Bitcoin and Solana. The SEC’s legal actions against ConsenSys and debates over whether Ether should be classified as a security have intensified uncertainty. This regulatory environment has led to a cautious approach among investors, contributing to the bearish sentiment surrounding Ethereum.

Ethereum’s Performance Lagging Behind Peers

In recent months, Ethereum has struggled to keep pace with its counterparts. As of February 2025, ETH was trading at approximately $2,700, reflecting a 15% increase over the past year. In contrast, Bitcoin and Solana have experienced over 100% growth during the same period. This disparity underscores the challenges Ethereum faces amid regulatory pressures and shifting market dynamics.

Shifting Narratives and Market Perception

Novogratz also discusses a shift in Ethereum’s narrative. Initially celebrated as a platform for Web3 technology, Ethereum is now viewed more as a store of value. This change has affected its appeal to investors seeking innovative blockchain solutions. The evolving narrative, coupled with regulatory challenges, has contributed to the current bearish sentiment.

Community Concerns and Future Outlook

Within the Ethereum community, there is growing fear, uncertainty, and doubt (FUD) regarding the protocol’s future. Critics have questioned the direction of the Ethereum Foundation and its leadership. Novogratz advises the foundation to focus on research and development, leaving advocacy to other entities like ConsenSys. Despite these challenges, Ethereum remains a significant player in the cryptocurrency space. However, its future trajectory will depend on how it navigates regulatory hurdles and adapts to changing market perceptions.

Conclusion

The bearish sentiment surrounding Ethereum highlights the impact of regulatory scrutiny and shifting market narratives. As the cryptocurrency landscape evolves, Ethereum’s ability to address these challenges will be crucial for its sustained relevance and growth.

The post Ethereum Sentiment Declines Amid Regulatory Concerns appeared first on FinanceBrokerage.

Tariff Tensions and Inflation Data Shake Global Markets

Global markets are facing increased volatility as inflation data and ongoing tariff tensions add uncertainty. As a result, investors are closely watching economic indicators, knowing they could impact interest rates, global trade, and market stability.

Inflation Data Report and Market Expectations

The latest Consumer Price Index (CPI) report is set to reveal how inflation trends are evolving. According to analysts, a 0.3% monthly increase is expected. However, a higher figure could raise concerns about rising costs.

  • If inflation remains high, the Federal Reserve may delay interest rate cuts. Consequently, this could slow down economic growth.
  • On the other hand, if inflation slows, it could signal economic stabilization, thereby boosting market confidence.

Market strategist Charlie Ripley from Allianz Investment Management stated,

“Inflation remains a wildcard. Its impact on interest rates will shape the economic outlook. Therefore, investors must stay cautious.”

Tariff Tensions Add Pressure

In addition to inflation worries, the global markets trade landscape is becoming increasingly uncertain. Recently, President Donald Trump imposed new tariffs on Canada, Mexico, and China, intensifying trade tensions.

  • 25% tariffs on Canadian imports, excluding energy, which faces 10% duties.
  • 10% tariffs on all Chinese goods, impacting supply chains and businesses worldwide.

Meanwhile, China has challenged these tariffs at the World Trade Organization (WTO), arguing that they violate international trade laws. As a consequence, these disputes could increase costs for businesses and consumers alike.

Market Reactions and Investment Strategies

Due to these economic shifts, investors are reacting cautiously. The stock market remains volatile, while currency markets adjust to these ongoing uncertainties.

  • Since inflation is rising, investor confidence is slowly decreasing.
  • Moreover, trade conflicts could lead to higher consumer prices and supply chain disruptions.
  • A weaker global economy could eventually slow business growth and affect corporate profits.

Conclusion

Given the current economic climate, the combination of inflation risks and trade uncertainties is shaping global market trends. For this reason, investors must stay informed and adaptable. In the coming weeks, market conditions will reveal whether economic stability is attainable or if further disruptions will occur.

The post Tariff Tensions and Inflation Data Shake Global Markets appeared first on FinanceBrokerage.

Southern California Edison acknowledges videos suggest link between equipment and Eaton fire

Southern California Edison acknowledged Thursday that videos have suggested a possible link between the utility’s equipment and the devastating Eaton Fire in Los Angeles.

But the company has not identified evidence to confirm this, according to a filing with the California Public Utilities Commission. The Eaton Fire, which is now contained, burned about 14,000 acres, destroyed thousands of buildings, killed at least 17 civilians and injured nine firefighters.

“SCE is undertaking a careful and thorough investigation and does not know what caused the ignition of the fire,” the utility said in its filing. The company has not found broken conductors, arch marks, or evidence of faults on energized lines in the area where the Eaton Fire started.

Southern California Edison believes its equipment may have sparked the smaller Hurst Fire, according to a separate filing with the commission. The Hurst blaze, which is also contained, burned about 800 acres. Two homes were damaged by the fire, according to the utility’s filing. No deaths have been reported.

Shares of Edison International, the parent company of Southern California Edison, were trading about 1% lower.

This post appeared first on NBC NEWS

New Orleans prepares for Super Bowl 59, its biggest weekend of the year

New Orleans is preparing for an estimated 125,000 visitors and a presidential visit during the weekend of Super Bowl 59, as the reigning champion Kansas City Chiefs take on the Philadelphia Eagles at the Caesars Superdome.

Local businesses are ready, and hotel demand is surging.

Tripadvisor said demand for hotel rooms in New Orleans surged 637% this week as fans of the competing NFL teams scurry to find lodging. Interest from travelers in Pennsylvania and New Jersey has increased more than 14 times, and interest from people in Kansas and Missouri is up 8.5 times since the division championship games in the last week of January, the travel site said.

As of Thursday morning, the average hotel room was going for $650 per night, according to Hotels.com, which is owned by Expedia.

Caesars has the spotlight, however. Along with naming rights to the New Orleans Saints’ stadium, where the NFL championship will be played, Caesars also holds lucrative status as the only casino in New Orleans.

The company has rolled out the red carpet with a nearly half-billion-dollar overhaul of what was formerly a Harrah’s-branded property, and it is using the big game to introduce the brand to new customers.

The biggest football game of the year comes just weeks after a New Year’s Day attack that took place in the city’s French Quarter and killed 14 people, putting New Orleans on high alert.

Security around town is tight. State police, city police and the U.S. Department of Homeland Security all have a heavy presence.

At an NFL briefing on Monday, law enforcement said more than 700 different types of Homeland Security officials will be on the ground during the Super Bowl, and that was before President Donald Trump indicated plans to attend the game.

“I am confident that the safest areas to be in the country this weekend is under the security umbrella our team has put together,” said Cathy Lanier, the NFL’s chief security officer.

Since the Jan. 1 attack in New Orleans, NFL Executive Vice President Jeff Miller said the league has redoubled its safety efforts.

“We added resources, and we feel really good about where we are,” Miller told CNBC.

This post appeared first on NBC NEWS

S&P 500 Sectors Play Musical Chairs: How To Win the Game With Options

The trading week started with investors worried about tariffs, but the 30-day delay of tariffs on imports from Canada and Mexico shook off those worries. The three broad stock market indexes — S&P 500 ($SPX), Nasdaq Composite ($COMPQ), and Dow Jones Industrial Average ($INDU) — closed higher. Then came the retaliation on US tariffs from China, but that didn’t do much damage to the market.

 Let’s face it; the stock market is headline-driven at the moment. Based on the news, investors may favor healthcare stocks one day and tech stocks the next. For individual investors, playing the sector musical chair game makes for a difficult investment environment. So, instead of getting caught up in catching the right sector at the right time, it’s best to focus on the big picture and look at the longer-term trends and patterns. One way to do this is to examine the performance of different sectors, industry groups, and indices through the Bullish Percent Index (BPI).

StockCharts Tip: If you haven’t done so, download the Essentials ChartPack (Charts & Tools tab > ChartPacks). The Market & Index Bullish Percent Indexes list has seven charts in the ChartList (see below).

FIGURE 1. DOWNLOADING CHARTPACKS. From the Charts & Tools tab, select ChartPacks to download the Essentials ChartPack.Image source: StockCharts.com. For educational purposes.

You could add more charts to the list. For example, I use a BPI ChartList each day to determine which sectors are bullish, overbought, or oversold. The image below displays some of the charts in my BPI ChartList.

FIGURE 2. VIEWING THE BULLISH PERCENT INDEX (BPI) CHARTLIST. The Summary view helps to see which sectors are bullish, bearish, overbought, or oversold.Image source: StockCharts.com. For educational purposes.

Viewing the ChartList in the Summary view helps to identify if the BPI is bullish, bearish, overbought, or oversold. You can also identify which sectors had the biggest changes for the day.

In the above image, the S&P Financial Sector BPI was the only one above 70, and Consumer Staples Sector BPI or $BPSTAP (not visible in the image; you’ll have to scroll to the next page) was the only one below 30.

Which Sectors Are Feeling the Love?

On Wednesday, the Predefined Alerts panel flashed that the Consumer Staples Sector BPI crossed above 30. This was a bull alert trigger warranting a closer look.

The chart below displays $BPSTAP with the Consumer Staples Select Sector SPDR ETF (XLP).

FIGURE 3. CONSUMER STAPLES BPI VS. CONSUMER STAPLES SELECT SPDR ETF (XLP). The BPI for the Consumer Staples Sector has crossed above 30, which is a bull alert trigger. The XLP chart still has to confirm a bullish move.Chart source: StockCharts.com. For educational purposes.

Although the $BPSTAP has crossed above 30, the XLP chart doesn’t display a bullish trend. Given that inflation is a big concern among US consumers, it’s worth monitoring the Consumer Staples sector for a chance to buy some stocks.

We posted an article on three stocks in the Consumer Staples sector, focused on Walmart, Inc. (WMT), Costco Wholesale Corp. (COST), and Sprouts Farmers Market (SFM). These stocks are still looking strong, but come with a high price tag. So, instead of purchasing the stock outright, I decided to explore options strategies for these stocks.

Options To the Rescue

After analyzing all three stocks using the Options tool (see image below), I considered a call vertical spread on COST and WMT. SFM wasn’t under consideration since it had a low-scoring strategy.

  • COST had an OptionsPlay score of 108. The call vertical trade would cost me $4,250 with an 182.35% potential return.
  • WMT had an OptionsPlay score of 106. The trade would cost me $508 with a 172.05% potential return.

WMT was the lower-risk play, so I placed the April 17 100/115 call vertical, a strategy displayed in the OptionsPlay Explorer tool, with my broker (see image below). I got filled at a price slightly higher than $508 due to price fluctuations and broker fees.

FIGURE 4. OPTIONSPLAY EXPLORER DISPLAYS THREE OPTIMAL TRADES FOR WMT. The April 17 100/115 call vertical was the most optimal trade with a good risk/reward tradeoff. Image source: OptionsPlay Add-on at StockCharts.com. For educational purposes.

Closing Position

There are 71 days till expiry. If WMT closes above $105.08 the trade will be profitable. The target price is $113.82.

There’s a 38.89% probability of the stock closing above $105.08 by expiration, all else equal. I’ll monitor the position and, if the price target is reached, I will close my position. Another point to keep in mind is that WMT reports earnings on February 20 before the market opens. Volatility will likely increase around that time and could significantly move the stock price in either direction.

Almonty Pens Molybdenum Offtake Deal with SpaceX Contractor SeAH

Critical minerals company Almonty Industries (TSX:AII,ASX:AII,OTCQX:ALMTF) said on January 29 that it has entered into an exclusive offtake deal with South Korean molybdenum processor SeAH M&S.

Under the deal, SeAH will purchase 100 percent of the material produced from Almonty’s Sangdong molybdenum project for the asset’s entire life. Located in Korea, Sangdong is expected to start producing in 2026.

SeAH is South Korea’s largest processor of molybdenum products, as well as the second largest molybdenum oxide smelter in the world. The company is building a US$110 million metals and fabrication facility in Temple, Texas, that will provide fabricated metal products to SpaceX, the Elon Musk-led rocket and spacecraft company.

Sangdong is being developed by Almonty’s subsidiary, Almonty Korea Moly, with mining and environmental permits already in place. It is expected to produce about 5,600 metric tons of molybdenum annually over a 60 year life.

“This agreement underscores the strategic importance of (Almonty Korea Moly) and reflects strong confidence in Almonty’s ability to deliver high-quality resources,” said Almonty CEO Lewis Black in a press release.

Pricing is set at a minimum of US$19 per pound, based on the current molybdenum price of approximately US$22. Almonty said this level will ensure financial stability and a predictable revenue base as it advances Sangdong.

“The floor price provides a stable foundation and access to low-rate domestic construction lending as we advance our moly project, while keeping the material in South Korea strengthens local supply chains and supports domestic industry,’ noted Black. He added that it builds on the success of the company’s Sangdong tungsten project.

The Sangdong molybdenum project sits about 150 meters from the Sangdong tungsten project, which according to Almonty will allow enhance logistical efficiency, reduce costs and leverage shared infrastructure and expertise.

The company also emphasized that the offtake will benefit South Korea’s domestic supply chain.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

New US Interior Secretary Moves to Expand Alaska Energy Development

Former North Dakota Governor Doug Burgum took the oath of office to become the 55th US secretary of the interior on Saturday (February 1), vowing to prioritize domestic energy expansion, particularly in Alaska.

On his first day in office, Burgum wasted no time in advancing the administration’s energy agenda, signing six Secretary’s Orders designed to bolster US energy independence and expand resource development, particularly in Alaska.

“Today marks the beginning of an exciting chapter for the Department of the Interior,” Burgum said in a Monday (February 3) press release. “We are committed to working collaboratively to unlock America’s full potential in energy dominance and economic development to make life more affordable for every American family while showing the world the power of America’s natural resources and innovation.”

His swift actions align with the Trump administration’s revitalized efforts to reverse environmental and regulatory policies enacted under Joe Biden. Among the most consequential of his directives is Secretary’s Order 3422, which implements Executive Order 14153, titled “Unleashing Alaska’s Extraordinary Resource Potential.”

This order prioritizes resource extraction in Alaska, and rescinds previous restrictions that limited oil, gas and mineral production in the state. Specifically, Secretary’s Order 3422 directs the Department of the Interior to maximize natural resource production on both federal and state lands in Alaska. This includes oil and gas extraction and timber harvesting.

A key component of this shift is the revocation of Secretary’s Order 3401, which was issued in June 2021. It placed a temporary moratorium on activities in the Arctic National Wildlife Refuge Coastal Plain Oil and Gas Leasing Program.

The new order reinstates Secretary’s Order 3352, originally issued in May 2017, which prioritized energy development in the National Petroleum Reserve-Alaska (NPR-A). The reversal means that federal agencies must immediately reevaluate existing restrictions on leasing and permitting for oil and gas extraction in Alaska.

Additionally, Burgum’s order requires a review of all punitive restrictions that have hindered energy development in the state. Agencies must submit plans within 15 days outlining how they will execute the administration’s energy goals.

By reinstating Secretary’s Order 3352, the interior department is once again prioritizing the NPR-A for oil and gas leasing. The NPR-A is one of the largest oil-rich federal land reserves in the US, containing an estimated 8.7 billion barrels of recoverable oil and 25 trillion cubic feet of natural gas, according to government assessments.

Burgum’s order also emphasizes Alaska’s potential as a major liquefied natural gas (LNG) hub. The order includes provisions for fast-tracking pipeline infrastructure and transportation networks to support the state’s LNG industry.

To facilitate these efforts, the order mandates expediting the permitting and leasing process for new energy and natural resource projects in Alaska, and prioritizing infrastructure projects that are necessary for transporting resources.

The directive is expected to accelerate investments in Alaska’s energy sector, encouraging private companies to expand operations in the North Slope, the Cook Inlet and offshore areas.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Lara Trump to host weekend show on Fox News

President Donald Trump’s daughter-in-law Lara Trump will host a weekend show on Fox News, the news channel announced Wednesday.

‘My View with Lara Trump’ is expected to premiere Feb. 22 and air at 9 p.m. ET Saturdays, taking the spot of ‘One Nation with Brian Kilmeade.’ Kilmeade’s show will move to 10 p.m. ET Sundays, Fox News Channel said in a news release.

‘I’m thrilled to bring my voice back to FOX News, talk directly with the American people and highlight what makes this country so great,’ Trump said in a statement. ‘As I cover the success of The Golden Age of America, I look forward to where this time will lead our country and where this opportunity will lead me in the future.’

Fox News said the hourlong show will ‘focus on the return of common sense to all corners of American life as the country ushers in a new era of practicality’ and shed light ‘on the headlines driving the national conversation and affecting families around the country.’

Fox News Media CEO Suzanne Scott called Trump ‘a gifted communicator who knows how to connect to the viewers.’

Trump, who is married to the president’s son Eric Trump, worked for Fox News as an on-air contributor from March 2021 through 2022. She was also a co-chair of the Republican National Committee and a senior adviser during Donald Trump’s 2020 campaign, and she hosts a web series called ‘The Right View.’

The announcement follows former Fox News hosts Sean Duffy’s confirmation as transportation secretary and Pete Hegseth’s confirmation as defense secretary.

This post appeared first on NBC NEWS

All Quiksilver, Billabong and Volcom stores to close in U.S.

All Quiksilver, Billabong and Volcom stores in the United States will close after their operator filed for bankruptcy protection. 

Altogether over 100 stores for the brands, that sell apparel for skaters, surfers and snowboarders, will close their doors.

Liberated Brands filed a voluntary petition for Chapter 11 bankruptcy protection Sunday in U.S. Bankruptcy Court in Delaware.

“The Liberated team has worked tirelessly over the last year to propel these iconic brands forward, but a volatile global economy, consumer spending changes amid a rising cost of living, and inflationary pressures have all taken a heavy toll,” Liberated Brands in a statement, according to Financier Worldwide. “Despite this difficult change, we are encouraged that many of our talented associates have found new opportunities with other license holders that will carry these great brands into the future.”

Todd Hymel, the CEO of the Costa Mesa, California-based company, said in a declaration of support for the bankruptcy filing that a “rapid and dramatic rise in interest rates,” inflation, supply chain delays, a decline in customer demand and shifting consumer preferences cast “significant pressure” on the operator. 

He noted that during Covid-19 pandemic the brands experienced a boom in business. During that time, Liberated expanded its retail footprint from 67 to 140 stores, Hymel wrote. However, as the pandemic ended and interest rates and inflation went up, customer demand weakened. 

The pandemic also had increased demand for online shopping and led Liberated’s brick-and-mortar retail footprint to impose “a further drag on profitability.” Hymel also said consumer demand toward “fast fashion” contributed to a decrease in profits.

Fans of the labels won’t have to fear, though, as parent company Authentic Brands Group said it will transition to another operator.

This post appeared first on NBC NEWS