The agency said the decrease was partly due to a 0.4 percent decrease in gasoline prices and consumers taking advantage of lower prices during Black Friday sales.
The Fed cited an improving economic outlook, with inflation easing towards its target 2 percent range and a better job market balance. However, the Fed is widely expected to slow further cuts in the new year as it continues to gather data.
The news was not well received on Wall Street, with the Dow plunging more than 1,000 points following the announcement.
Precious metals also took a hit on the Fed news, with gold and silver plunging below US$2,600 and US$30 respectively.
Learn about this week’s five best-performing Canadian mining stocks below.
Weekly gain: 66.67 percent
Market cap: C$10.91 million
Share price: C$0.075
Omineca Mining and Metals is a gold exploration and mining company working to advance its Wingdam project in British Columbia, Canada.
The project consists of 61,329 hectares of hard rock and placer claims within the Cariboo mining district. It is a 50/50 joint venture with D&L Mining. The site currently hosts mining operations focused on extracting placer gold from gravels 50 meters beneath Lightning Creek.
According to the company, the mine is extracted through gravity separation, which uses an existing reusable water supply without chemicals, mill waste or tailings.
The company said drilling has encountered some quartz veins with various concentrations of semi-massive to massive sulphide mineralization, and included photos of the mineralized cores. Samples from several holes will be assayed for coarse gold.
Weekly gain: 45.45 percent
Market cap: C$17.87 million
Share price: C$0.08
Bayhorse Silver is a silver-focused company currently working to bring the Bayhorse silver, copper and antimony mine in Oregon, US, back online.
Weekly gain: 40 percent
Market cap: C$32.53 million
Share price: C$0.14
Defense Metals is a rare earth metals exploration and development company currently focused on advancing its Wicheeda property near Prince George in British Columbia, Canada.
The property consists of 12 mineral claims covering 6,759 hectares and hosts rare earth element mineralization, first discovered at the site in 1976. Between 2019 and 2023, Defense extensively explored the property, drilling 60 diamond drill holes totalling 12,883.91 meters.
Weekly gain: 37.5 percent
Market cap: C$53.18 million
Share price: C$0.22
Nevada Lithium Resources is an exploration and development company working to advance its Bonnie Claire lithium project in Nevada, US. The property consists of 915 placer claims covering an area of 74.1 square kilometers in Nye County.
Along with the lithium, the site also has significant quantities of boron, hosting an indicated resource of 231,000 metric tons of contained boron from ore with an average grade of 1,519 ppm and an inferred resource of 407,000 metric tons at 1,505 ppm.
Weekly gain: 33.33 percent
Market cap: C$13.02 million
Share price: C$0.06
Gratomic is a junior graphite development and exploration company with assets in Namibia, Canada and Brazil.
Its primary project is the Aukam graphite property, located near the port of Luderitz in Southern Namibia. It covers an area of 141,500 hectares and has been granted four prospecting licenses. The site hosts an existing 7,200 metric ton per year modular processing plant, with the capability to be upgraded to 22,000 metric tons per year.
Gratomic has been working to create stockpiles at the Aukam mine as it starts to ramp up production. During the commercial commissioning phase of the plant, the company produced 300 metric tons of graphite.
“We have already started working on a business plan which we plan to implement in December 2024 to set the stage for greater strategic advancement of the asset and the processing plant,” he said.
Gratomic had previously allowed other mining claims at its Capim Grosso property to expire as it said further exploration and development costs at the site were not justified and would drain company resources.
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.
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.
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.
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