Source: Reuters.
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Weakness in commodities’ prices have been felt on Bay Street and Wall Street as traders took stock of consumer inflation data.

U.S. inflation fell faster than expected in last month to 4.9 per cent, raising chances of a pause in Federal Reserve rate hikes. April’s consumer price index was an important inflation gauge that would offer greater insight into whether the Federal Reserve’s rate hikes are working to ease high prices. According to the U.S. Bureau of Labor Statistics, the price increase rate was down from five per cent in March, the latest in a long line of increases that have tested people’s financial limits.

What really has investors worried is the U.S. debt ceiling and failing to reach a resolution before the June 1st deadline could lead to default. Earlier this week, President Joe Biden held a key meeting with congressional leaders, but both sides of the aisle suggested that not much progress was made.

Calgary-based oil and gas company Baytex Energy Stock confirmed that the State of Emergency in Alberta is forcing the company to temporarily cut its oil and gas production. The province declared the State of Emergency over the weekend with more than 100 wildfires now burning.

Baytex has upwards of 10,000 barrels of oil per day since May 5, which represents 70 per cent of crude oil sales volumes.

As of Monday afternoon, 60 per cent of the curtailed volumes remain on-line and are producing into inventory.

Source: @YourAlberta on Twitter.

The company said it is monitoring the rapidly-changing situation and will make changes as necessary.

New Found Gold Corp. (TSXV:NFG) released the results from 40 diamond drill holes that this week.

These holes were completed as part of a drill program designed to expand on known zones and test new target areas along the northern segment of the highly prospective Appleton Fault Zone (AFZ).

New Found’s district-scale Queensway Project comprises a 1,662km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.

The company’s ongoing 500,000 metre drill program has led to the discovery of three new gold zones – “Monte Carlo”, “K2” and “Everest”, in turn, extending known mineralization along the AFZ to more than 4.1 km in strike length.

Photos of mineralization from: Left: NFGC-22-888 at ~169.4m Centre: NFGC-22-930 at ~105.65m Right Top: NFGC-22-953 at ~78.25m Right Bottom: NFGC-23-1145 at ~64.3m. ^Note that these photos are not intended to be representative of gold mineralization in NFGC-22-888, NFGC-22-930, NFGC-22-953 and NFGC-23-1145. Source: New Found Gold Corp.

At Monte Carlo, the intervals of 12.3 g/t Au over 8.05 metres in NFGC-23-1151 and 13.0 g/t Au over 4.75 metres in NFGC-23-1145 are hosted by an east-west striking brittle fault zone that is associated with continuous quartz veining and gold mineralization over a current strike length of 150 metres. The company’s current interpretation connects this gold-bearing structure over a strike length of 450 metres; additional infill drilling is required to confirm this model.

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At K2, initial highlight intervals of 28.6 g/t Au over 2.00 metres in NFGC-22-902, 11.2 g/t Au over 4.25 metres in NFGC-22-959, 8.91 g/t Au over 4.70 metres in NFGC-22-827, 3.00 g/t Au over 11.00 metres in NFGC-22-898, 1.88 g/t Au over 14.75 metres in NFGC-22-892 and 1.44 g/t Au over 18.80 metres in NFGC-22-986 are controlled by the K2 fault, located 725 metres north of Lotto on the west side of the AFZ adjacent to Zone 36. K2 represents a significant structural zone with similarities to the Keats Baseline Fault Zone.

Systematic grid drilling working on the east side of the AFZ tagged into a new zone of veining grading 36.7 g/t Au over 3.70 metres in NFGC-22-888 and 28.7 g/t Au over 2.30 metres in NFGC-22-930. This zone is named “Everest” and is located 1.5 km northeast of Lotto. Mineralization is spatially associated with a shear zone and is within close proximity to the AFZ.

Additional results have been received at Lotto North, confirming the continuity of the high-grade gold mineralization and bringing it to the surface with highlight intervals of 11.1 g/t Au over 3.55 metres in NFGC-22-940 and 21.1 g/t Au over 2.15 metres in NFGC-22-953. The high-grade hit in NFGC-22-895 of 7.20 g/t Au over 4.55 metres extends mineralization down dip to 200 metres vertical depth. Lotto-Lotto North has a combined strike length of 630 metres.

Bombardier (TSX:BBD) announced that Iridium Certus connectivity will now be a standard feature on all Challenger 3500 aircraft.

Working with Collins Aerospace, Bombardier’s preferred service provider for connectivity, the new offering will enable customers to enjoy a seamless in-flight experience while being highly productive.

With a top connection speed of 704 Kbps, Iridium Certus provides a strong foundation for connectivity needs.

The new service is supported by a constellation of more than 66 cross-linked satellites, offering a global network with the lowest latency and the largest coverage.

All present operators of Challenger 300 and Challenger 350 aircraft will be able to retrofit the new service through Bombardier’s extensive service centre network.

Nate Boelkins, Vice President and General Manager Business and Regional Avionics at Collins Aerospace, stated that the new system will allow operators to benefit from faster speeds, lower weight, and smaller antenna footprints, making it more efficient for passengers in the cabin.

Bombardier’s Challenger family has been the best-selling super mid-size platform for the past eight years.

The Challenger 3500 is the first business jet in the super mid-size segment to have an Environmental Product Declaration published, documenting the aircraft’s environmental footprint over its lifecycle.

The story for each sector is likely to change by next week, and sometimes even more quickly. It is more important than ever for small-cap investors to stay up to date on the current conversations and company movements, the best place you will find is the Bullboards. For previous editions of Buzz on the Bullboards: click here.

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