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Sell-off opportunity to 'catch babies tossed out with bath water' says Oppenheimer
Monday’s stock market sell-off that started last week stemmed from a disappointing July jobs report, which dampened hopes for a soft landing and increased fears of a potential recession in the US econInvesting.com
Mon, Aug 5
Spectral Capital Corporation (FCCN) Led by Sean Michael Brehm Launches Quantum Bridge Program to Advance Quantum Computing Innovations
EQS Newswire / 05/08/2024 / 06:34 PST/PDTNew York – Spectral Capital Corporation (FCCN), under the leadership of Chairman and Board Director Sean Michael Brehm, is excited to announce the launch of its innovative Quantum Bridge Program. This groundbreaking initiative is designed to fast-track the development and commercialization of quantum computing technologies, bridging the gap between cutting-edge research and practical applications.Caption: Sean Michael BrehmQuantum Computing RevolutionQuantum computing harnesses the principles of quantum mechanics to perform computations that far surpass the capabilities of classical computers. Its transformative potential spans numerous sectors, including cryptography, drug discovery, and materials science, promising to redefine technology and industry. However, practical implementation remains challenging due to technological complexities, high development costs, and a shortage of skilled professionals.Accelerating Innovation"The Quantum Bridge Program is our flagship initiative to accelerate the development of quantum computing technologies," said Sean Michael Brehm, Chairman and Independent Director of Spectral Capital. "We aim to create a launchpad for startups, providing them with comprehensive support to succeed—from technical assistance and funding to educational resources and industry connections."The Quantum Bridge Program addresses these challenges by fostering collaboration and building a robust ecosystem for quantum innovation. Startups participating in the program will receive a holistic suite of services, including access to funding, expert mentorship, and partnerships with academic institutions and established tech companies. This support accelerates research and development efforts, helping startups transition from the lab to the market.Bridging the Gap"We recognized the immense potential of quantum computing to solve problems beyond the reach of traditional computers," Brehm added. "From simulating new materials to revolutionizing cryptography, the possibilities are endless. The Quantum Bridge Program was created to bridge the gap between cutting-edge quantum research and real-world applications."In addition to technical and financial support, the Quantum Bridge Program emphasizes public outreach to demystify quantum computing and generate excitement about its potential. By showcasing real-world results and success stories, Spectral Capital aims to build trust and demonstrate the significant value that quantum computing can bring to various industries.Future AspirationsLooking ahead, Spectral Capital aspires to catalyze a quantum revolution impacting all sectors of the economy. The ultimate goal of the Quantum Bridge Program is to support startups in becoming market leaders, pushing the boundaries of what is possible and creating a more equitable and innovative future."We invite startups, investors, and researchers to join us in this exciting journey," Brehm concluded. "Together, we can shape the future of technology and ensure that quantum innovations are accessible and impactful.”Here’s a quick summary that should interest both the general public and seasoned market participants:Global Impact: Sean highlights how their decentralized cloud infrastructure, distributed across 16 global regions, can significantly improve performance, security, and reliability. This infrastructure uses sustainable energy sources, which meets the growing demand for green technologies.Advanced Execution Technologies: The use of an advanced multi-tasking execution environment with real-time code optimization capabilities supports a quantum environment of data and information. This facilitates the creation of collective intelligence, ensuring efficient and flexible application execution while maintaining the integrity and security of data through cryptographic hash generation.Attracting Investors: Integration with sustainable energy sources reduces their carbon footprint and aligns with global sustainability goals, making the solution attractive to environmentally conscious investors. This also results in lower operating costs and increased profitability in the long term.Logistics Optimization: Sean gives a real-life example of a global logistics company that benefits from their technology. Using their decentralized cloud, companies can sync freight data between warehouses in real time, ensuring data consistency and preventing inconsistencies.Benefits to Society: Technology has a profound impact on everyday life, especially in underdeveloped regions. It can optimize supply chains for goods, stabilize prices, ensure fair compensation for local producers, improve healthcare delivery, and increase grid efficiency.Market Potential: Sean discusses the significant market growth forecasts for cloud, edge, and hybrid clouds, highlighting the strong incentives for large cloud providers and global MSPs to partner with Quantum Bridge.Performance and Flexibility: Their advanced runtime environment significantly improves the performance and flexibility of cloud services, attracting a broader customer base and differentiating their partners from the competition. This results in significant cost savings and improved security, which is critical to gaining the trust of enterprise customers.Investor Competitiveness: Investors should consider the strategic benefits of partnering with Quantum Bridge. Their decentralized cloud model, supported by sustainable energy sources, positions them as a leader in the next generation of cloud computing. Market differentiation, cost efficiency, increased security and scalability provide a compelling investment case.Incorporating these points into your strategy should help generate interest and attract both regular people and sophisticated market participants to FCCN Spectral Capital.Media ContactAnna Stukkert Phone: +49 162 2328333 Spectral Capital Corporationwww.spectralcapital.comcontact@spectralcapital.com 05/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Mon, Aug 5
Now not the time to panic on the tech trade, bargain hunt after selloff: Wedbush
Investors globally are reeling from a historic sell-off, with the Nikkei plunging over 12% overnight, triggering market carnage that has US markets deep in the red.Amid this turmoil, Wedbush analystsInvesting.com
Mon, Aug 5
Solidcore Resources plc: Q2 2024 production results
EQS Newswire / 05/08/2024 / 05:36 MSKQ2 2024 production resultsSolidcore Resources plc (“Solidcore” or the “Company”) reports production results for the second quarter ended June 30, 2024.“In Q2, we demonstrated solid production results as well as managed to unwind a significant portion of our concentrate inventory, which resulted in strong cash flow generation and higher net cash position”, said Vitaly Nesis, Group CEO of Solidcore Resources plc.HIGHLIGHTSNo fatal accidents among the Company’s employees and contractors occurred in H1 2024 as well as no lost time injuries were recorded. Gold equivalent (“GE”) production grew by 37% year-on-year (y-o-y) to 135 Koz in Q2 and by 18% to 252 Koz in H1 on the back of higher concentrate shipment volumes to China and production from toll-treated concentrate at Kyzyl. GE sales for the quarter jumped by 118% y-o-y and 52% q-o-q to 176 Koz, thanks to the substantial progress in unwinding of Kyzyl concentrate stockpile, previously accumulated due to logistical challenges. H1 sales were up by 42% to 292 Koz supported by Q2 dynamics. Revenue for the reporting quarter and six months increased by 157% and 79% y-o-y to US$ 409 and US$ 704 million respectively driven by higher gold prices, healthy production results and inventory release. Net Cash position as of the end of Q2 stood at approximately US$ 357 million versus net cash of US$ 155 as of the end of Q1. The increase was driven by significant cash inflow from sale of inventory as well as free cash flow from ongoing operations. The Company reiterates its full-year guidance for production and costs: production of 475 GE Koz, TCC in the range of US$ 900-1,000/oz and AISC in the range of US$ 1,250-1,350. However, the management is observing the following detrimental factors in H2 2024: stronger than budgeted year-to-date KZT/USD rate, inflationary pressure, shortage of railcars and congestions of the eastbound railroads. Full-year CAPEX is expected to be approximately US$ 60 million above the original guidance of US$ 225 million due to prepayments for the green energy projects (solar power plant at Kyzyl, and solar and gas power plants at Varvara).PRODUCTION RESULTS 3 months ended Jun 30, % change1 6 months ended Jun 30, % change1 2024 2023 2024 2023 Waste mined2, Mt 31.3 29.6 +6% 64.4 60.3 +7% Ore mined (open pit), Mt 1.3 1.4 -6% 2.5 2.7 -8% Ore processed, Mt 1.6 1.6 -1% 3.1 3.1 +1% Average GE grade processed, g/t 3.0 2.9 +5% 3.0 2.9 +3% Production, GE Koz3 135 98 +37% 252 213 +18% Kyzyl 93 56 +66% 169 128 +32% Varvara 42 42 -0% 83 86 -3% Sales, GE Koz 176 81 +118% 292 206 +42% Kyzyl 133 37 +258% 207 113 +84% Varvara 43 44 -1% 85 93 -9% Revenue, US$m4, 5 409 159 +157% 704 393 +79% Net cash/(debt), US$m6 357 155 +130% 357 (174) -305% Safety LTIFR7 0 0 NA 0 0 NA Fatalities 0 0 NA 0 0 NA Notes: (1) % changes can be different from zero even when absolute numbers are unchanged because of rounding. Likewise, % changes can be equal to zero when absolute numbers differ due to the same reason. This note applies to all tables in this release. (2) Kyzyl waste mined reporting approach has been amended starting from Q2 2024 to include specification of volume weight coefficients used to convert cubes into tons by mines and periods. (3) Based on 80:1 Au/Ag conversion ratio and excluding base metals. Discrepancies in calculations are due to rounding. (4) Calculated based on the unaudited consolidated management accounts. (5) Revenue includes re-sale of third party metal. Sales are shown net of re-sale of third party metal. (6) Non-IFRS measure based on unaudited consolidated management accounts. Comparative information is presented for 31 March 2024 (for the three months period) and 31 December 2023 (for the six months period) for Kazakhstan operations only. (7) LTIFR = lost time injury frequency rate per 200,000 hours worked. Company employees only are taken into account. Enquiries Investor Relations Media Evgeny Monakhov +44 20 7887 1475 (UK) Kirill Kuznetsov Alikhan Bissengali +7 7172 47 66 55 (Kazakhstan) ir@solidcore-resources.com Yerkin Uderbay +7 7172 47 66 55 (Kazakhstan) media@solidcore-resources.kz FORWARD-LOOKING STATEMENTSThis release may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “could” or “should” or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company’s control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company’s present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company’s actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.KYZYL 3 months ended Jun 30, % change 6 months ended Jun 30, % change 2024 2023 2024 2023 MINING Waste mined1, Mt 20.3 18.8 +8% 42.4 38.7 +9% Ore mined (open pit), Kt 603 647 -7% 1,185 1,165 +2% PROCESSING Ore processed, Kt 607 633 -4% 1,212 1,193 +2% Gold grade, g/t 5.3 4.9 +8% 5.3 5.1 +5% Gold recovery 89.2% 89.0% +0% 88.7% 88.8% -0% Concentrate produced, Kt 30.9 31.5 -2% 61.6 61.5 +0% Concentrate gold grade, g/t 93.3 88.5 +5% 92.9 87.6 +6% Gold in concentrate, Koz2 93 90 +3% 184 173 +6% Concentrate shipped, Kt 19 10 +92% 31 18 +70% Payable gold shipped, Koz 34 18 +91% 58 34 +70% Toll-processing at third-party POX Concentrate processed, Kt 18 13 +32% 35 28 +25% Gold grade, g/t 115.6 108.9 +6% 116.1 117.5 -1% Gold recovery 92.5% 91.9% +1% 92.9% 92.8% +0% Dore produced, Koz 59 38 +53% 111 94 +18% TOTAL PRODUCTION Gold, Koz 93 56 +66% 169 128 +32% Note: (1) Kyzyl waste mined reporting approach was amended to include specification of volume weight coefficients used to convert cubes into tons by mines and periods. Previous periods were restated accordingly. (2) For information only; not considered as gold produced and therefore not reflected in the table representing total production. It will be included in total production upon shipment to off-taker or dore production under the tolling contract at third-party POX. Q2 gold production at Kyzyl grew by 66% y-o-y to 93 Koz due to higher volumes of concentrate shipments to offtakers, higher grade and toll-processing volumes at third party POX. Quarterly results contributed to a 32% increase in H1 production. The Company’s efforts to unwind the previously accumulated concentrate stockpiles resulted in a 30% (approximately 20 Koz) reduction in inventory year to date. VARVARA 3 months ended Jun 30, % change 6 months ended Jun 30, % change 2024 2023 2024 2023 MINING Waste mined, Mt 11.0 10.9 +1% 22.0 21.5 +2% Ore mined (open pit), Kt 709 742 -4% 1,299 1,524 -15% PROCESSING Leaching Ore processed, Kt 774 777 -0% 1,539 1,546 -0% Gold grade, g/t 1.4 1.4 +0% 1.4 1.4 -4% Gold recovery1 91.8% 89.0% +3% 89.7% 89.0% +1% Gold production (in dore), Koz 31 32 -2% 62 66 -6% Flotation Ore processed, Kt 196 187 +5% 395 376 +5% Gold grade, g/t 2.4 2.3 +7% 2.4 2.2 +6% Recovery1 88.7% 88.2% +1% 89.0% 86.6% +3% Gold in concentrate, Koz 10 10 +5% 20 19 +6% TOTAL PRODUCTION Gold, Koz 42 42 -0% 83 86 -3% Note: (1) Technological recovery, includes gold and copper within work-in-progress inventory. Does not include toll-treated ore. In Q2, production at Varvara was stable y-o-y at 42 Koz, A marginal y-o-y decline in H1 was driven by a planned moderate decrease in Komar ore grade at the leaching circuit.ERTIS POXThe autoclave construction at COEK production site in Belgium was completed. Delivery preparation is in process. At the future construction site engineering survey is in progress to develop documentation for technological and infrastructure facilities. Draft and working design projects for temporary on-site buildings have been developed. The formal Board decision on the project and feasibility study results announcement are expected in December 2024.05/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Mon, Aug 5
