?? Rio Tinto Jumps into Top 3 Lithium Miners
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?? Canada Adds 47,000 Jobs as Unemployment Rate Falls to 6.5%
In a surprising twist, Canada’s unemployment rate dropped to 6.5% in September as the country added 47,000 jobs—almost double what economists were expecting. Despite more workers entering the workforce, demand for labour surged, particularly in industries like construction and health care.
Why It Matters: The unexpected job growth provides a cushion for the Canadian economy as high interest rates continue to bite. It may also give the Bank of Canada some flexibility to ease the pace of future rate hikes, though inflation concerns remain.
Bottom Line: Canada’s job market remains resilient, but the Bank of Canada still has to navigate inflation risks and the potential impact of a slowing global economy.
Prime Mining
(TSX: PRYM, OTCQX: PRMNF)
Prime Mining is expanding its high-quality gold-silver resource at the Los Reyes project, aiming to explore both open pit and underground mining options.
Thesis Gold
(TSX.V: TAU, OTCQX: THSGF)
Thesis Gold is advancing a major gold and silver project in British Columbia, with nearly 5 million ounces of gold and significant silver resources.
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?? Rio Tinto Jumps into Top 3 Lithium Miners with $6.7 Billion Arcadium Buy
Mining giant Rio Tinto is making waves with its US$6.7 billion acquisition of Philadelphia-based Arcadium Lithium, positioning itself as one of the world’s top three lithium producers. This move significantly boosts Rio’s stake in the fast-growing electric vehicle (EV) market, as lithium remains a key component for batteries.
Why It Matters: As demand for EVs and renewable energy soars, securing lithium supply is crucial. This acquisition cements Rio Tinto’s role in powering the energy transition, and further intensifies the global race to control critical mineral resources.
Bottom Line: With the lithium market expected to grow rapidly, Rio Tinto’s latest deal not only strengthens its portfolio but also marks a strategic play in the clean energy revolution.
Contango Ore
(NYSE-A: CTGO)
Contango Ore is leading the charge in gold exploration in Alaska with an innovative approach to developing new mines.
Kootenay Silver
(TSX.V: KTN, OTC: KOOYF)
Discover Kootenay Silver's large silver resources and high-grade discovery in Mexico, offering significant growth potential and leverage to silver.
??? This Week's Selected Company News:
XORTX Launches Precision Medicine Program to Advance Kidney Health Treatments
XORTX Therapeutics (NASDAQ: XRTX, TSX.V: XRTX), a leading biotech company focused on innovative therapies for kidney disease, announced the initiation of its Precision Medicine Program. This new program will leverage cutting-edge genomic and diagnostic tools to better target treatments for patients with progressive kidney disease, enhancing patient outcomes and treatment efficiency.
HIVE Digital Technologies Reports September 2024 Performance: 112 Bitcoin Mined, HODL Portfolio Reaches 2,604 Bitcoin
HIVE Digital Technologies (TSX.V: HIVE, Nasdaq: HIVE) announced its September 2024 performance, mining 112 Bitcoin and growing its HODL portfolio to 2,604 Bitcoin—a 50% increase over the past 12 months. The company maintained a strong Bitcoin mining capacity of 4.8 Exahash per second (EH/s), showcasing its operational efficiency and ability to scale amidst rising market demand.
DIRTT Receives Industry Excellence Recognition from Industrialized Construction Group
DIRTT (TSX: DRT), a leader in industrialized construction, has been recognized by the Industrialized Construction Group through its prestigious Medallion Program. The award highlights DIRTT's innovation and excellence in delivering sustainable and efficient building solutions.