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Crypto Market Recap: White House Hosts Bitcoin Summit, Texas Votes “Yes” on Bitcoin Reserve

Here’s a quick recap of the crypto landscape for Friday (March 7) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$86,934.56, reflecting a 2.5 percent decrease over the past 24 hours. The day’s trading range has seen a high of US$90,940.27 and a low of US$86,701.87.

Ethereum (ETH) is priced at US$2,155.47, marking a decrease of 2.3 percent over the same period. The cryptocurrency reached an intraday high of US$2.244.58 and a low of US$2,145.98.

Altcoin price update

  • Solana (SOL) is currently valued at US$144,38, up 0.1 percent over the past 24 hours. SOL experienced a high of US$149 and a low of US$141.65 during Friday’s trading session.
  • XRP is trading at US$2.46, reflecting a 5.5 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.55 and a low of US$2.39.
  • Sui (SUI) is priced at US$2.68, showing a 4.8 percent decrease over the past 24 hours. It achieved a daily high of US$2.84 and a low of US$2.66.
  • Sui (SUI) is priced at US$2.68, showing a 4.8 percent decrease over the past 24 hours. It achieved a daily high of US$2.84 and a low of US$2.66.

Crypto news to know

Crypto summit: Sentiment positive, details limited

The highly anticipated White House crypto summit, hosted by President Trump and David Sacks, brought together key industry leaders and policymakers to discuss the future of crypto and blockchain regulations.

The event provided a platform for attendees such as Ripple CEO Brad Garlinghouse, Strategy’s (NASDAQ:MSTR) Michael Saylor, and Chainlink co-founder Sergey Nazarov to share their insights and offer feedback on the industry’s needs.

The summit was expected to primarily focus on strengthening US leadership in the digital asset industry and fostering an environment that promotes innovation while ensuring appropriate regulatory oversight.

Industry watchers were also hoping for clarity on the executive order (EO) issued on Thursday evening establishing a Bitcoin reserve and digital asset stockpile.

Although US Treasury Secretary Scott Bessent said he would discuss the next steps for possibly acquiring more Bitcoin during a CNBC Squawk Box interview on Friday morning, the government’s announcement that it did not intend to purchase more Bitcoin resulted in a subdued market response.

Crypto assets pulled back further after a senior White House official stated that Trump’s mention of ADA, XRP, SOL, Bitcoin, and Ether as examples of cryptocurrencies included in a strategic reserve should not be overinterpreted.

Market experts had mixed reactions. Some experts called the EO a symbolic move, while others hailed it as a turning point in the market’s development.

Dick Lo, CEO of TDX Strategies, said “Initial disappointment as the market had built up high expectations leading up to the announcement. However, the news is (unambiguously) positive: It would have been unrealistic to expect new buying without a plan on how it would be funded. An important distinction has been made between Bitcoin and the rest of crypto, i.e. not a single dollar will be spent buying altcoins.”

The summit wrapped up with positive sentiments toward Trump’s leadership and the joint effort to advance the digital asset industry, though it didn’t introduce many new details. Trump shared his desire to see legislation enacted before the August break and offered congratulations to attendees.

Texas Senate passes Bitcoin strategic reserve bill

The Texas Senate voted to pass Bitcoin strategic reserve bill SB-21 in a 25-5 vote on Thursday after a fierce debate between Texas State Senator Charles Schwertner, who introduced the legislation, and Democratic Senator Roland Gutierrez of San Antonio.

Gutierrez raised concerns about Bitcoin’s volatility and the potential risks associated with allocating state funds to cryptocurrency.

“When the economy is down, Bitcoin is down, and the fluctuations on this stuff is insanity,” he said. “We have so many real concerns in this state, and so many of our citizens that’re asking for real help, and the last thing that we need to do is go benefit some techno bro.”

Schwertner argued that a crypto reserve would allow Texas to diversify its investment approach and “participate competitively in the evolving digital, financial economy.”

“We don’t have stacks of dollar bills and safes like we did in medieval times. What we have is digital currency,” he told the floor.

The proposed legislation would authorize the state comptroller to purchase, hold and manage Bitcoin and other digital assets as a hedge against inflation and economic volatility. Funding would come from legislative appropriations and private donations. A committee would also be established to advise the comptroller on cryptocurrency investments, making Texas the first US state to create a cryptocurrency reserve if the bill is signed into law.

Trump memecoin generates US$350 million in revenue

Analysis by the Financial Times revealed that Trump’s cryptocurrency project has generated at least US$350 million in revenue from the launch of the Official Trump (TRUMP) memecoin, with roughly US$314 million from token sales and US$36 million from fees on the Solana blockchain.

Following the launch of the Trump memecoin, Trump-linked accounts reportedly sold 100 million Trump tokens at a price below US$1.05. The analysis suggests that after withdrawing the initial USDC earnings, Trump wallets reinvested US$291 million in USDC into another liquidity pool, perhaps to support the market.

The report also highlighted that these Trump-linked wallets sent approximately 14.7 million Trump tokens to 10 different exchanges, including major platforms such as Binance, Bybit and Coinbase (NASDAQ:COIN). While the exact extent of the financial gains from these transactions remains unclear, the analysis indicates that these other transactions may have generated additional profits.

The Financial Times also found that the Trump accounts spent US$1 million on their own tokens at US$33.20 on January 19 and January 20 to stabilize the price amid the TRUMP decline following the launch of Melania Trump’s MELANIA memecoin. The report determined that the 831 million TRUMP tokens still held by Trump-affiliated accounts are estimated to have a notional value of US$10.8 billion.

The memecoin’s official website, Gettrumpmemes.com, states that The Trump Organization-affiliated CIC Digital and Delaware-based Fight Fight Fight collectively own 80 percent of the tokens; however, Trump’s profits are not known.

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.

This post appeared first on investingnews.com

Tech 5: CoreWeave Plans US$4 Billion IPO, Trump Threatens CHIPS Act

Tech stocks were active this week, impacted by a broader market correction, key announcements and funding rounds.

Google’s (NASDAQ:GOOGL) introduction of AI Mode, a powerful new search tool for complex, multi-part questions, as well as Shield’s estimated US$5.3 billion valuation after securing US$240 million in a new funding round offer a snapshot of the rapid innovation and investor interest driving the tech landscape right now.

With that, here’s a look at other key events that made tech headlines this week.

1. CoreWeave plans IPO, faces Microsoft contract concerns

CoreWeave filed for a New York initial public offering (IPO) on Monday, seeking to raise US$4 billion and an expected valuation of more than US$35 billion.

On Wednesday, the Financial Times reported that Microsoft (NASDAQ:MSFT) pulled out of some of its agreements with CoreWeave. Anonymous sources didn’t give details as to why the startup’s biggest customer cancelled some contracts but alluded to Microsoft’s reduced confidence in CoreWeave after the company allegedly missed deadlines and ran into other delivery issues.

CoreWeave generates over 60 percent of its revenue from Microsoft, to which it supplies computing power from its data centers for running large-scale AI models, including OpenAI’s ChatGPT.

This multi-billion-dollar partnership represents a concentration risk. In its filing, CoreWeave stated that its business, operating results, financial condition and/or prospects could be negatively impacted by changes in its overall strategic relationship with Microsoft, including changes in demand and contractual agreements. Contracts between the two companies reportedly have Microsoft set to spend more than US$10 billion on CoreWeave services by 2030.

CoreWeave’s IPO filing revealed a US$1.9 billion revenue for 2024, alongside substantial debt and net losses. The company has raised US$14.5 billion through debt and equity financing, including US$11 billion in asset-backed loans. This aggressive expansion has led to escalating net losses, which reached US$863 million in 2024, up from US$594 million in 2023 and US$31 million in 2022.

The company’s reliance on chip supplier Nvidia (NASDAQ:NVDA) also poses supply chain risks, particularly concerning potential delays with Nvidia’s Blackwell GPUs.

After publication, CoreWeave delivered a statement to Data Center Dynamics, clarifying “there have been no contract cancellations or walking away from commitments. Any claim to the contrary is false and misleading.”

In a strategic move to further solidify its position in the AI space, on Tuesday, CoreWeave announced that it would acquire AI development startup Weights and Biases. The press release did not say how much the deal was worth, but unnamed sources for The Information said the deal could be valued at around US$1.7 billion.

2. TSMC fluctuates amid investment and political concerns

An interplay of factors, including geopolitical tensions and economic uncertainty, contributed to fluctuating TSMC’s (NYSE:TSM) share prices this week, both in the US and Taiwanese markets.

US shares were down at the start of the week due to concerns of economic upheaval and a potential trade war with China. Its Taiwanese shares fell after the company announced a US$100 billion investment in US chip production, including three new manufacturing plants, two packaging facilities and a research and development center.

Trump’s intention to end the US$52 billion CHIPS Act, which he expressed during his Tuesday evening Congressional Address, added to investor concerns. The CHIPS Act, an initiative from the Biden administration, has pledged funding to TSMC as well as fellow benefactors Intel (NASDAQ:INTC), Samsung (KS:5930) and Micron (NASDAQ:MU) to fund sizeable infrastructure projects. Intel received the largest portion, a US$7.9 billion grant to support commercial factories and another US$3 billion to produce military chips. TSMC is set to receive US$11.6 billion in direct funding and loans.

TSMC’s CEO, C.C. Wei, held a press conference on Thursday to address concerns from Taiwanese critics of the planned US investment who worry that moving advanced manufacturing will lessen US incentive to defend Taiwan from a Chinese invasion. The country’s Chinese Nationalist Party, the KMT, said the investment was a threat to national security.

Wei defended the move, stating it was a response to increased customer demand for AI chips. In a separate statement, Taiwan’s Economics Minister said that TSMC’s most advanced processes would stay in Taiwan until at least 2026.

He did not confirm whether Trump had guaranteed the continuation of CHIPS Act subsidies in light of the new investment pledge but said that the company could proceed without them, emphasizing the desire for fairness.

3. NVIDIA chips to power OpenAI and Oracle’s Stargate data center expansion

A source for Bloomberg said that OpenAI and Oracle (NYSE:ORCL) are preparing to add 64,000 of NVIDIA’s GB200 semiconductors to a new data center being built in Abilene, Texas, the first of the US$100 billion Stargate project announced by the Trump administration in January.

According to the report, the chips will be added to the center in phases, with an initial 16,000 chips set to be completed by this summer and the entire project complete by 2026.

4. Tech stocks share mixed earnings results

This week also saw a mix of earnings reports from major tech companies:

        5. Shift to practical AI continues with agents, specialized applications

        Key developments this week signaled a continuing shift toward AI agent expansion across both commercial and government sectors.

        On Tuesday, Reuters reported on a new division from Amazon (NASDAQ:AMZN) Web Services (AWS) dedicated to AI agents, indicating a strategic focus on automated task solutions for cloud computing clients. The plans were officially announced by Amazon Vice President of AI and Data Swami Sivasubramanian via a LinkedIn post on Wednesday.

        “This new capability – powered by Claude 3.7 Sonnet, Anthropic’s most intelligent model to date – allows developers to have more collaborative, interactive conversations with Q Developer that works with them, asks them feedback and makes iterative changes as they go along,” Sivasubramanian wrote.

        Later, during a public interview at Morgan Stanley’s Technology, Media and Telecom Conference in San Francisco on Wednesday, Meta’s (NASDAQ:META) chief product officer Chris Cox said the company’s upcoming Llama 4 model will have reasoning capabilities powerful enough to create AI agents capable of using a web browser and other tools.

        He described how more advanced AI agents can be built on a foundation of embeddings, enabling them to complete specific business-related tasks like filing receipts. These comments follow a previous CNBC report of Meta’s plans to debut a stand-alone AI app sometime during the second quarter and echo similar statements made to CNBC’s Julia Boorston by Clara Shih, Meta’s head of business AI.

        “We’re quickly coming to a place where every business, from the very large to the very small, they’re going to have a business agent representing it and acting on its behalf, in its voice — the way that businesses today have websites and email addresses,” Shih said, explaining that Meta is working to develop business AIs for smaller businesses who may not be able to hire large AI teams.

        Adding to this trend, OpenAI is reportedly planning to introduce tiered subscriptions for specialized AI agents, with prices ranging from US$2,000 to US$20,000 per month to reflect varying levels of capabilities.

        Also, the US Department of Defense has begun integrating AI agents through collaborations with Scale AI, Microsoft, and Anduril for military operations, including simulation and decision support.

        These moves signal rapid growth in the adoption of AI agents, marking a shift toward practical AI implementation and coincide with broader market shifts showing increased investment in AI applications, as noted in recent financial reporting from Bloomberg’s Kate Clark. This reflects a wider movement beyond foundational AI models, focused on delivering specialized, user-focused AI tools and services, whether through autonomous agents or dedicated applications.

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

        This post appeared first on investingnews.com

        Goldman Sachs Kostin Warns of a Potential S&P 500 Correction

        Goldman Sachs Kostin analyst has issued a warning that the S&P 500 may be headed for a significant correction. His comments, based on current market data and public economic trends, suggest that heightened market risks could force investors to reconsider their positions.

        Rising Market Risks and Overvaluation

        According to Goldman Sachs Kostin, current market conditions point to growing volatility. He notes that the S&P 500 appears overvalued when measured against fundamental economic indicators. In addition, factors such as rising interest rates and economic uncertainty have increased the overall market risk. These factors, when combined, can create an environment where a correction is likely.

        Investor Caution Amid Volatile Trends

        Investors are being urged to remain cautious. Kostin emphasizes that the prevailing market optimism may be unsustainable if key economic data turns negative. Many market experts agree that investor caution is necessary during such periods of volatility. In turn, a pullback in the S&P 500 could offer a correction that might reset market valuations to more sustainable levels.

        Implications for the Broader Market

        A potential S&P 500 correction could have far-reaching implications for other asset classes. With heightened market volatility, investors might shift their focus to safer assets. Moreover, such a correction may serve as a wake-up call for the broader market, prompting both retail and institutional investors to review their portfolios and risk management strategies.

        Conclusion

        In summary, public data and current market trends support Kostin’s warning about the S&P 500. Rising market risks, overvaluation, and economic uncertainties are key factors that may trigger a correction. Investors should stay informed and practice caution as they navigate these turbulent market conditions. Ultimately, this forecast calls for a balanced approach to risk and a strategic review of investment positions.

        This analysis is based on widely reported public market data and reflects a growing consensus among financial experts. As the market evolves, monitoring these trends closely will be essential for making well-informed decisions.

        The post Goldman Sachs Kostin Warns of a Potential S&P 500 Correction appeared first on FinanceBrokerage.

        My Downside Target for the S&P 500

        Things heated up this week on , featuring interviews with Kristina Hooper of Invesco, Keith Fitz-Gerald of The Fitz-Gerald Group, and Jordan Kimmel of Magnet Investing Insights!

        Now that 5850 has been clearly violated to the downside, though, it’s all about the 200-day moving average, which both the S&P 500 and Nasdaq 100 tested this week. Friday’s rally kept the SPX just above its 200-day moving average, which means next week we’ll be looking for a potential break below this important trend-following mechanism.

        Fibonacci Retracements Suggests Downside to 5500

        But what if we apply a Fibonacci framework to the last big upswing during the previous bull phase? Using the August 2024 low and December 2024 high, that results in a 38.2% retracement level at 5722, almost precisely at the 200-day moving average. So now we have a “confluence of support” right at this week’s price range.

        If next week sees the S&P 500 push below the 5700 level, that would mean a violation of moving average and Fibonacci support, and suggest much further downside potential for the equity benchmarks.  Using that same Fibonacci framework, I’m looking at the 61.8% retracement level around 5500 as a reasonable downside target.  With the limited pullbacks over the last two years, most finding support no more than 10% below the previous high, a breakdown of this magnitude would feel like a true bear market rotation for many investors.

        Supporting Evidence from Newer Dow Theory

        So, despite rotating to more defensive positioning in anticipation of a breakdown, what other tools and techniques can we use to validate a new bear phase in the days and weeks to come? An updated version of Charles Dow’s foundational work, what I call “Newer Dow Theory”, could serve as a confirmation of a negative outcome for stocks.

        Charles Dow used the Dow Industrials and Dow Railroads to define the trends for the two main pillars of the US economy, the producers of goods and the distributors of goods. For our modern service-oriented economy, I like to use the equal-weighted S&P 500 to represent the “old economy” stocks and the equal-weighted Nasdaq 100 to gauge the “new economy” names.

        We can see a clear bearish non-confirmation last month, with the QQQE breaking to a new 52-week high while the RSP failed to do so. This often occurs toward the end of a bullish phase, and can represent an exhaustion point for buyers. Now we see both ETFs testing their swing lows from January. If both of these prices break to a new 2025 low in the weeks to come, that would generate a confirmed bearish signal from Newer Dow Theory, and imply that the bearish targets outlined above are most likely to be reached.

        Many investors are treating this recent drawdown as yet another garden variety pullback within a bull market phase. And while we would be as happy as ever to declare a full recovery for the S&P 500, its failure to hold the 200-day moving average next week could be a nail in the coffin for the great bull market of 2024.

        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.

        Sector Rotation Warning: More Downside Ahead for US Markets?

        In this exclusive StockCharts video, Julius analyzes sector rotation in US markets, assessing recent damage and potential downside risks. He examines the Equal Weight RSP vs. Cap-Weighted SPX ratio and the stocks vs. bonds relationship to identify key market trends. Don’t miss this deep dive into market rotation and what it means for the next move!

        This video was originally published on March 7, 2025. Click on the icon above to view on our dedicated page for Julius.

        Past videos from Julius can be found here.

        #StayAlert, -Julius

        Top 5 Canadian Mining Stocks This Week: San Lorenzo Gold Shines with 329 Percent Gain

        Statistics Canada released its preliminary estimates for the 2024 annual mineral production survey on Wednesday (February 26).

        The report showed that the US was the top trading partner for metal ores and non-metallic minerals over the last year. Canada’s resource sector shipped C$6.4 billion worth of commodities to the US in 2024. Meanwhile, imports into Canada totaled C$4.3 billion.

        The top three export destinations for the Canadian mining sector were the US, which represented 23.9 percent of exports in 2024, followed closely by China with 20.3 percent and Japan with 8.9 percent.

        At a value of C$4.2 billion, potash was the top mineral Canada exported to the US, representing 65.2 percent of metal and mineral exports. Diamonds and other non-metallic minerals were Canada’s next highest export to the US in this category, accounting for 13.1 percent of exports and having a trade value of C$844 million.

        Overall, Canada shipped a total of C$54 billion worth of metals, non-metals and aggregates in 2024. The most valuable subcategory was gold, with Canada shipping 198,899 kilograms during 2024 worth an estimated C$16.89 billion. The second most valuable was potash, which saw 25.47 million metric tons shipped, adding C$8.68 billion to the Canadian economy.

        Canada’s largest trading partner for minerals, the US, is causing considerable uncertainty in 2025 as the Trump administration continues to threaten sweeping 25 percent tariffs on all exports from Canada excluding energy, which would receive 10 percent tariffs.

        The tariffs were originally set to go into effect in early February before being pushed back to the beginning of March, although US President Donald Trump did enact 25 percent tariffs on steel and aluminum imports in mid-February.

        This past Wednesday, Trump indicated that the date for the sweeping tariffs had been pushed back to April 2, but walked it back in social media posts on Thursday (February 27), saying the tariffs would still go forward on March 4.

        Since he assumed office on January 20, Trump’s foreign and domestic policies have sparked fears of a global trade war. Markets have struggled in recent weeks while the price of gold has soared to record highs as investors seek haven assets.

        His economic moves towards Canada alongside comments calling Canada the 51st state and questioning its legitimacy as a nation have caused significant concern among Canadians, many of whom have begun boycotting US travel and products in favor of supporting Canadian companies.

        Markets and commodities react

        US equity markets were broadly down this week through the close of trading on Thursday, with CNN reporting markets are currently being driven by “Extreme Fear.” The S&P 500 (INDEXSP:INX) lost 4.13 percent over the four day period to end at 5,861.56, and the Nasdaq-100 (INDEXNASDAQ:NDX) fell 7.05 percent to 20,550.95 by Thursday. The Dow Jones Industrial Average (INDEXDJX:.DJI) saw the smallest drop, losing just 1.33 percent to 43.239.51.

        In Canada, markets were also in decline. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 4.79 percent to close at 615.84 on Thursday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 1.61 percent loss to 25,128.24 and the CSE Composite Index (CSE:CSECOMP) dropped 3.73 percent to 127.53.

        After hitting new all-time highs last week, the gold price slipped over the past four trading days losing 2.08 percent to US$2,876.00 per ounce at 5:00 p.m. EST Thursday. The silver price saw steeper declines, losing 5.04 percent during the period to US$31.25.

        In base metals, the copper price spiked to almost US$4.75 late Tuesday (February 25) as Trump floated copper tariffs, but ended Thursday down on the week overall, closing the day at US$4.59 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) shed 3.16 percent to close at 560.29.

        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 3:00 p.m. EST on Thursday 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. GPM Metals (TSXV:GPM)

        Company Profile

        Weekly gain: 36.84 percent
        Market cap: C$14.43 million
        Share price: C$0.13

        GPM Metals is a mineral exploration company working to advance its Walker Gossan zinc-lead project in the Northern Territory of Australia.

        In June 2024, GPM announced that it concluded a sale and purchase agreement with a Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) subsidiary to wholly acquire the Walker Gossan project in Australia as well as two nearby exploration license applications. The terms of the deal replaced a previous farm-in agreement.

        Rio Tinto’s subsidiary has the option to earn up to 49 percent interest back in the future on certain milestones. Additionally, it retains the right to be paid a further contingent amount equivalent to the future value of 1,000 metric tons of zinc and lead if GPM discovers a mineral resource greater than 20 million metric tons with combined zinc and lead grades above 8 percent.

        In July 2024, GPM announced that it had finalized plans for an exploration program to be conducted in 2024 and 2025 that will follow up on previous work at the property, which identified a 2 kilometer by 1 kilometer gravity anomaly. Due to unexpected damage to the access route from storms, the program was delayed until the end of the wet season, April 2025, and will be overseen by new CEO John Timmons.

        Shares in GPM Metals were up this week, although the company has not released any news in 2025.

        2. DLP Resources (TSXV:DLP)

        Company Profile

        Weekly gain: 33.33 percent
        Market cap: C$34.99 million
        Share price: C$0.30

        DLP Resources is a mineral exploration company focused on advancing its flagship Aurora copper-molybdenum project in Peru.

        The 8,500 hectare site is located in the Central Andes. Exploration work has been performed at the site since the early 2000s, with DLP conducting drill programs in 2023 and 2024.

        Shares in DLP saw gains this week following the release of a technical report for Aurora on Thursday that included a maiden mineral resource estimate with significant copper and molybdenum spread over two zones.

        The inferred resource totals 1.05 billion metric tons of ore containing 4.65 billion pounds of copper, 1.1 billion pounds of molybdenum and 80 million ounces of silver. The resource has average grades of 0.2 percent copper, 0.05 percent molybdenum and 2.4 grams per metric ton silver.

        The company said it is pleased with the size and results of the report and will continue drilling the site to upgrade the resource ahead of a preliminary economic assessment.

        3. TriStar Gold (TSXV:TSG)

        Company Profile

        Weekly gain: 29.63 percent
        Market cap: C$51.79 million
        Share price: C$0.175

        Tristar Gold is a gold exploration and development company focused on advancing its Castelo de Sonhos project in Pará State, Brazil.

        According to a 2021 pre-feasibility study, the property consists of six concessions and has hosted historic small-scale artisanal mining over the past several decades. Between 2010 and 2021, Tristar drilled more than 67,000 meters in 611 holes.

        The economics included in the study demonstrate that, at an annual 5 percent discount rate, the project has an after-tax net present value of US$321 million and internal rate of return of 28 percent with a payback period of 2.8 years. The base case was calculated using a gold price of US$1,550 per ounce.

        The project was issued a preliminary license in August 2024 from the Para Secretariat for the Environment and Sustainability (SEMAS), a crucial environmental hurdle and the first of a three-stage process to allow project development.

        The project experienced some delays in October as federal prosecutors recommended that the license be suspended pending the completion of additional archaeological studies and Indigenous Component Studies. In a follow-up announcement in December, Tristar indicated that the permit for the site would remain valid, with SEMAS providing a strong technical defense of the permitting process.

        The company has not released further information on the proceedings and has spent early 2025 raising funds. The most recent news came on February 21, when it announced it had closed the final tranche of a non-brokered private placement for gross proceeds of C$1.08 million.

        4. Star Diamond (TSX:DIAM)

        Company Profile

        Weekly gain: 28.57 percent
        Market cap: C$27.79 million
        Share price: C$0.045

        Star Diamond is an exploration and development company working to advance its flagship Fort à la Corne diamond district in Saskatchewan, Canada.

        The property is located 60 kilometers east of Prince Albert, Saskatchewan. Previously a joint venture with Rio Tinto, Star Diamond acquired Rio Tinto’s stake in the project in March 2024 in exchange for 119.32 million shares in Star Diamond, resulting in Rio Tinto holding a 19.9 percent ownership position in the diamond junior.

        Fort à la Corne has seen extensive exploration of kimberlite deposits, including geophysical surveys, large-diameter drilling and micro- and macro-diamond analyses.

        The Star-Orion South diamond project, the most advanced project area in Star Diamonds’ portfolio, is located within the district.

        In 2018, the company released a PEA for Star-Orion South, which reported a resource of 27.15 million carats of diamonds from 200.16 million metric tons with an average grade of 14 carats per 100 metric tons. The inferred resource is 5.18 million carats from 72.08 million metric tons, with an average grade of 7 carats per 100 metric tons.

        At the time, the company estimated a post-tax NPV of C$2 billion, an IRR of 19 percent and a payback period of 3 years and 5 months.

        On January 9, Star Diamond announced that a 70.7 million share block held by a former project partner had been sold, with 61.12 million shares purchased by an international investor interested in diamonds.

        The company’s most recent news came on February 27, when it announced that it had closed the second tranche of its private placement for gross proceeds of C$230,000, adding to the C$335,000 from the first tranche it closed on February 18. The funds will be used as working capital. According to the announcement, Star Diamond is discussing funding for a pre-feasibility study with potential investors.

        5. Canuc Resources (TSXV:CDA)

        Company Profile

        Weekly gain: 21.43 percent
        Market cap: C$13.60 million
        Share price: C$0.085

        Canuc Resources is an exploration and development company focused on its flagship San Javier silver and gold project in Sonora, Mexico.

        As part of its strategy, Canuc also owns the MidTex natural gas project, which consists of eight producing natural gas wells it uses to provide steady, long-term cash flow.

        Its San Javier project consists of 28 contiguous claims covering 1,052.9 hectares, with the most recent set of claims acquired in July 2024. The company has completed limited exploration work at the site, the most recent being a mapping and sampling program in January 2024.

        The most recent news from Canuc came on February 13 when it announced it had entered into a definitive arrangement agreement to acquire Macdonald Mines Exploration (TSXV:BMK,OTC Pink:MCDMF). Multiple conditions must be met before it is finalized, including several approvals and Canuc completing a C$500,000 private placement.

        If completed, the deal will see Canuc acquire Macdonald and its flagship SPJ project located 40 kilometers northeast of the Sudbury mining camp in Ontario, Canada. The site covers 19,710 hectares and hosts mineralization of copper, gold, cobalt, nickel and rare earth elements.

        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

        Heritage Mining Announces Non-Brokered Private Placement of Units and Flow-Through Units

        (TheNewswire)

        VANCOUVER, BC TheNewswire – March 7, 2025 Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce a non-brokered private placement (the ‘ Offering ‘) of units (‘ Units ‘) and flow-through units (‘ FT Units ‘) for gross proceeds of up to $1,3750,00.

        Pursuant to the Offering, the Company intends to issue up to 13,750,000 Units of the Company at a price of $0.05 per Unit, for aggregate gross proceeds of up to $687,500, and up to 13,750,000 FT Units of the Company at a price of $0.05 per FT Unit, for aggregate gross proceeds of up to $687,500.

        Each Unit will consist of one common share in the capital of the Company (‘ Common Share ‘) and one Common Share purchase warrant (a ‘ Warrant ‘). Each FT Unit will consist of one Common Share which will qualify as a ‘flow-through share’ as defined in subsection 66(15) of the Income Tax Act (Canada) and one Warrant.

        Each Warrant will entitle the holder to acquire one Common Share (each, a ‘ Warrant Share ‘) at an exercise price of $0.10 per Warrant Share until 4:30 pm (Pacific Standard time) on that date that is 60 months from the closing date of the Offering (the ‘ Expiry Time ‘).

        Closing of the Offering is expected to occur on or around March 27, 2025 (the ‘ Closing Date ‘).  The Offering is subject to all customary approvals. Proceeds of the Offering will be used to fund the Company’s planned exploration and drilling programs on its Drayton-Black Lake Project and Contact Bay and general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants.

        ‘Heritage Mining Ltd. has secured lead orders totaling up to C$250,000 from insiders, institutions, advisors, consultants, and existing shareholders. We are grateful for the continued support of existing stakeholders and look forward to closing the financing on or around March 27, 2025.’ Commented Peter Schloo, President, CEO, and Director.

        ABOUT HERITAGE MINING LTD.

        The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.

        For further information, please contact:

        Heritage Mining Ltd.

        Peter Schloo, CPA, CA, CFA

        President, CEO and Director

        Phone: (905) 505-0918

        Email: peter@heritagemining.ca

        FORWARD-LOOKING STATEMENTS

        This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.

        Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.

        This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

        NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

        Copyright (c) 2025 TheNewswire – All rights reserved.

        News Provided by TheNewsWire via QuoteMedia

        This post appeared first on investingnews.com

        Goldman Sachs Kostin Warns of a Potential S&P 500 Correction

        Goldman Sachs Kostin analyst has issued a warning that the S&P 500 may be headed for a significant correction. His comments, based on current market data and public economic trends, suggest that heightened market risks could force investors to reconsider their positions.

        Rising Market Risks and Overvaluation

        According to Goldman Sachs Kostin, current market conditions point to growing volatility. He notes that the S&P 500 appears overvalued when measured against fundamental economic indicators. In addition, factors such as rising interest rates and economic uncertainty have increased the overall market risk. These factors, when combined, can create an environment where a correction is likely.

        Investor Caution Amid Volatile Trends

        Investors are being urged to remain cautious. Kostin emphasizes that the prevailing market optimism may be unsustainable if key economic data turns negative. Many market experts agree that investor caution is necessary during such periods of volatility. In turn, a pullback in the S&P 500 could offer a correction that might reset market valuations to more sustainable levels.

        Implications for the Broader Market

        A potential S&P 500 correction could have far-reaching implications for other asset classes. With heightened market volatility, investors might shift their focus to safer assets. Moreover, such a correction may serve as a wake-up call for the broader market, prompting both retail and institutional investors to review their portfolios and risk management strategies.

        Conclusion

        In summary, public data and current market trends support Kostin’s warning about the S&P 500. Rising market risks, overvaluation, and economic uncertainties are key factors that may trigger a correction. Investors should stay informed and practice caution as they navigate these turbulent market conditions. Ultimately, this forecast calls for a balanced approach to risk and a strategic review of investment positions.

        This analysis is based on widely reported public market data and reflects a growing consensus among financial experts. As the market evolves, monitoring these trends closely will be essential for making well-informed decisions.

        The post Goldman Sachs Kostin Warns of a Potential S&P 500 Correction appeared first on FinanceBrokerage.

        Applebee’s owner Dine Brands to lean on value, marketing to reverse sales declines

        Dine Brands hopes to boost sales this year with a wider swath of value meals and buzzier advertising after a rough 2024 for Applebee’s and IHOP.

        “We had a soft year in 2024, which disappoints us, but we’re focused on improving that in 2025,” Dine Brands CEO John Peyton told CNBC. “We’ve got to have compelling messages and compelling promotions and compelling reasons to drive traffic into the restaurants.”

        Dine on Wednesday reported fourth-quarter U.S. same-store sales dropped 4.7% at Applebee’s and 2.8% at IHOP, ending the year with four straight quarters of domestic same-store sales declines for its two flagship brands. Shares of Dine have fallen 50% over the last 12 months, dragging its market cap down to $386 million.

        The company’s down year followed three years of strong growth for the company, driven by pent-up demand as diners returned to IHOP and Applebee’s after the pandemic. But like many restaurant companies, Dine saw a pullback last year from customers who make less than $75,000. After several years paying higher prices for groceries, rent, gas and other necessities, consumers opted to stay home to cook their meals or visit other chains that offered better deals or flashy promotions.

        The slowdown in restaurant spending led a slew of casual-dining restaurant chains to file for bankruptcy over the last 12 months. Familiar names like Red Lobster and TGI Friday’s sought bankruptcy protection to reorganize their struggling businesses and offload their worst-performing restaurants. Most recently, On the Border filed for Chapter 11 bankruptcy on Tuesday.

        Applebee’s promotions have failed to cut through much of the noise from the so-called value wars that have ignited across the restaurant industry, at chains from McDonald’s to Bloomin’ Brands’ Outback Steakhouse. Even a triad of recent pop-culture moments last year couldn’t boost its profile: a pivotal cameo in the tennis drama film “Challengers,” an Applebee’s-motivated meltdown on “Survivor” and a shoutout from football legend Peyton Manning during Netflix’s roast of his former rival Tom Brady.

        “You’ve got most of the restaurant companies are advertising value, and they’re advertising full meal deals, and so it’s harder to break through with a message when there are so many similar messages out there,” Dine’s Peyton said.

        But it’s not impossible to break out from the pack. Chili’s, which is owned by Brinker International, won over diners with its viral Triple Dipper and $10.99 burger combo after spending months turning around its business.

        In its most recent quarter, Brinker reported same-store sales growth of 27.4%. Thanks to its dramatic comeback, the company has become the rare casual-dining darling of investors. Brinker’s stock has soared over the last year, nearly tripling its value in the same period and raising its market cap to $6.29 billion.

        For now, the star of Applebee’s value promotions, the two for $25 deal, routinely accounts for roughly a fifth of the chain’s tickets, according to Peyton. But Applebee’s is looking to add to its value offerings later this spring or in the early summer with options that appeal to larger groups or to customers who don’t want to order with their dining partner.

        Dine is also trying to improve its social media presence.

        “At both IHOP and Applebee’s, we know we need to do better there. We know we need to be more relevant. We know that we have to be part of the conversation and the culture,” Peyton said.

        A new president for Applebee’s could help with that goal.

        Peyton is currently pulling double duty serving as interim president for the chain after Tony Moralejo stepped down effective Tuesday. Peyton said the company is looking for a replacement “with a great marketing background” who understands how to connect with younger customers, on top of being a great leader with an understanding of franchising and some restaurant experience. (Yum Brands’ Lawrence Kim joined Dine as IHOP’s president in early January, succeeding Jay Johns.)

        Looking to 2025, Dine is trying to communicate better with its customers and use its menu innovation to attract younger diners, according to Peyton.

        But Dine’s confidence in its ability to attract customers seems shaky. For 2025, the company is projecting Applebee’s same-store sales to range between a 2% decline and a 1% increase and IHOP’s same-store sales to range between a 1% decrease and a 2% gain.

        This post appeared first on NBC NEWS

        Walgreens to go private in roughly $10 billion deal

        Struggling drugstore chain Walgreens is going private. 

        The company on Thursday said it inked a deal with private equity firm Sycamore Partners that will take it off the public market for an equity value of around $10 billion.

        Sycamore will pay $11.45 per share in cash for Walgreens. Shareholders could also receive up to $3 more per share in the future from sales of Walgreens’ primary-care businesses, including Village Medical, Summit Health and CityMD. Walgreens said the total value of the transaction would be up to $23.7 billion when including debt and possible payouts down the line.

        Walgreens and Sycamore expect to close the take-private deal in the fourth quarter of this year. Shares of Walgreens jumped more than 5% in after-hours trading on Thursday before being halted.

        The historic deal ends Walgreens’ tumultuous run as a public company, which began in 1927. As of Thursday morning, shares of the company were up more than 15% for 2025, but the stock was still down more than 48% for the last year and had fallen 70% for the past three years. 

        “While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company,” Walgreens CEO Tim Wentworth, who stepped into the role in 2023, said in a release on Thursday. “Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds.

        Stefan Kaluzny, Sycamore’s managing director, said in the release the transaction reflects the firm’s confidence in Walgreens’ “pharmacy-led model and essential role in driving better outcomes for patients, customers and communities.”

        Walgreens will maintain its headquarters in Chicago. The company currently has more than 310,000 employees globally and 12,500 retail pharmacy locations across the U.S., Europe and Latin America, according to the release. Walgreens still plans to release its second-quarter earnings on April 8.

        Walgreens’s market value reached a peak of more than $100 billion in 2015 as investors gained confidence in its health-care business and expansion plans, making it one of the most prominent American retail companies. 

        But the company’s market cap shrank to under $8 billion in late 2024 due to competition from its main rival CVS, grocery chains, big-box retailers and Amazon, along with a slew of challenges. Walgreens has been squeezed by the transition out of the Covid pandemic, pharmacy reimbursement headwinds, softer consumer spending and a troubled push into health care.

        Both Walgreens and CVS have pivoted from years of store expansions to shuttering hundreds of retail pharmacy locations across the U.S. to shore up profits. But unlike CVS, which has diversified its business model by offering insurance and pharmacy benefits, Walgreens largely doubled down on its now-flailing retail pharmacy business. 

        In October, Walgreens said it plans to close roughly 1,200 of its drugstores over the next three years, including 500 in fiscal 2025 alone. Walgreens has around 8,700 locations in the U.S., a quarter of which it says are unprofitable. The company has also scaled back its push into primary care by cutting its stake in provider VillageMD. 

        Walgreens tapped health-care industry veteran Tim Wentworth as its new CEO in late 2023 to help regain its footing. 

        The company has reportedly been seen as a potential private equity target in the past. 

        In 2019, private equity firm KKR made a roughly $70 billion buyout offer to Walgreens, the Financial Times and Bloomberg reported at the time. 

        This post appeared first on NBC NEWS