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Ed Steer: Silver Rally Now Unstoppable, Price to Hit Triple Digits

Investing 1 Min Read

Ed Steer of Ed Steer’s Gold and Silver Digest shares his thoughts on silver’s run past US$50 per ounce, saying that in his view the bull market is just getting started.

‘One way or another we’re going to run into a supply/demand brick wall, and when that day happens we could see triple-digit silver prices in a very, very short period of time,’ he said.

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

This post appeared first on investingnews.com

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Editor’s Picks: Gold Price Recovers from Biggest One-Day Drop in 12 Years

Investing 4 Mins Read

The gold price declined from its recent all-time highs this week, sinking to nearly US$4,000 per ounce and recording its biggest one-day decline in more than 12 years.

Silver took a similar hit, slipping back below the US$50 per ounce level.

The drops have been attributed to factors like a stronger US dollar and lower US-China tensions, as well as profit taking, potentially from traders who are new to the market.

Many experts have been anticipating a correction for the metals — their latest rise has been quick, and no asset can go straight up forever.

However, there’s also a broad consensus that gold has entered a new phase. For example, Patrick Tuohy of Goldstrom believes gold won’t fall below US$3,000 again.

Here’s what Tuohy said:

‘Is this a short-term phenomenon that’s going to have some some dynamics that are going to turn it on its head and it reverses 50, 60 percent? I don’t believe that is the case. I think within our group … the consensus is that it’s unlikely that we’ll see gold below US$3,000 again in our lifetimes. So let’s say that that’s the floor. That’s a fairly significant move from where we were two years ago. So that’s comfortable.’

Next week, all eyes will be on the US Federal Reserve, which is set to meet from October 28 to 29. CME Group’s (NASDAQ:CME) FedWatch tool shows strong expectations for another interest rate cut.

While the release of US government data has been affected by the ongoing shutdown, September consumer price index numbers were released on Friday (October 24).

The report was the first major piece of federal economic data to come out since the shutdown began, and it has confirmed expectations of another rate reduction.

Bullet briefing — What’s next for gold and silver?

Gold and silver prices perked up to end the week, rising to the US$4,100 and US$48.60 levels, respectively. But with the metals still off from their all-time highs, investors are wondering what’s next.

Opinions vary, but I’ve pulled together a couple of quotes that illustrate what I’m hearing.

First is Ed Steer of Ed Steer’s Gold and Silver Digest. He’s well known for his commentary on the precious metals space, and he weighed in on what’s next for silver, saying that today really is different compared to the other times silver rose to the US$50 level.

Here’s how he explained it:

‘It’s irrelevant what the price is today. You look at the big picture, and look at the fact that the BRICS+ have become an absolutely awesome juggernaut, and it’s absolutely unstoppable. And as we shift from the west to the east, as this continues economically, financially, it’s impossible to say where this is going to end up.

‘But what we’re living right now is we’re living through a major, major shift in financial power, from one area of the world to another, and we’re going to be — they’re going to be writing about this 1,000 years from now. So we’re living through history.’

Next we have Don Durrett of GoldStockData.com. This interview is from the week before last, so it’s a little older, but definitely still relevant. I’ve kept thinking about a comment Durrett made about one way we can tell the gold cycle is still early. This is what he said:

The thing that really reveals how early we are is the stock market is only 2 percent from an all-time high. What in the world is the stock market doing at an all-time high and gold at an all-time high? Those are antagonistic. Gold is supposed to be a hedge against uncertainty. The stock market is supposed to show basically confidence.

And so if you have an all-time high, people should be confident. Everything’s fine. We don’t need this. But people are not confident. People have said this is the most scary bull market ever. Nobody really believes in it, right? … So the question is, who’s telling the truth? Is the stock market telling the truth at an all time high, or is it gold is telling the truth? Well, it’s pretty obvious that gold’s the one telling the truth.

In It To Win It interview

Finally, if you’d like to hear more from me, I was recently interviewed by Steve Barton of In It To Win It.

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

This post appeared first on investingnews.com

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Target is eliminating 1,800 corporate jobs as it looks to reclaim its lost luster

Business 3 Mins Read

Target said Thursday that it is eliminating about 1,800 corporate positions in an effort to streamline decision-making and accelerate initiatives to rebuild the flagging discount retailer’s customer base.

About 1,000 employees are expected to receive layoff notices next week, and the company also plans to eliminate about 800 vacant jobs, a company spokesperson said. The cuts represent about 8% of Target’s corporate workforce globally, although the majority of the affected employees work at the company’s Minneapolis headquarters, the spokesperson said.

Chief Operating Officer Michael Fiddelke, who is set to become Target’s next CEO on Feb. 1, issued a note to personnel on Thursday announcing the downsizing. He said further details would come on Tuesday, and he asked employees at the Minneapolis offices to work from home next week.

“The truth is, the complexity we’ve created over time has been holding us back,” Fiddelke, a 20-year Target veteran, wrote in his note. “Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”

Target, which has about 1,980 U.S. stores, lost ground to Walmart and Amazon in recent years as inflation caused shoppers to curtail their discretionary spending. Customers have complained of messy stores with merchandise that did not reflect the expensive-looking but budget-priced niche that long ago earned the retailer the jokingly posh nickname “Tarzhay.”

Fiddelke said in August when he was announced as Target’s next CEO that he would step into the role with three urgent priorities: reclaiming the company’s position as a leader in selecting and displaying merchandise; improving the customer experience by making sure shelves are consistently stocked and stores are clean; and investing in technology.

He cited the same goals in his message to employees, calling the layoffs a “necessary step in building the future of Target and enabling the progress and growth we all want to see.”

“Adjusting our structure is one part of the work ahead of us. It will also require new behaviors and sharper priorities that strengthen our retail leadership in style and design and enable faster execution,” he wrote.

Target has reported flat or declining comparable sales — those from established physical stores and online channels — in nine out of the past 11 quarters. The company reported in August that comparable sales dipped 1.9% in its second quarter, when its net income also dropped 21%.

The job cuts will not affect any store employees or workers in Target’s sorting, distribution and other supply chain facilities, the company spokesperson said.

The corporate workers losing their jobs will receive pay and benefits until Jan. 8 as well as severance packages, the spokesperson said.

This post appeared first on NBC NEWS

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1911 Gold to Attend the 51st Annual New Orleans Investment Conference

Investing 3 Mins Read

1911 Gold Corporation (TSXV: AUMB,OTC:AUMBF) (OTCQB: AUMF) (FSE: 2KY) (‘1911 Gold’ or the ‘Company’) is pleased to announce that it will be participating in the 51st Annual New Orleans Investment Conference at the Hilton New Orleans Riverside November 2 – 5, 2025. Shaun Heinrichs, President & CEO, will be presenting on Wednesday, November 5th, and is looking forward to networking with investors during the Conference.

The New Orleans Investment Conference gathers some of the world’s brightest and most successful analysts, newsletter writers and investors. This year’s event will highlight all major asset classes, including Gold.

Don’t miss out. Register for the 51st Annual New Orleans Investment Conference by clicking here.

About 1911 Gold Corporation

1911 Gold is a junior developer with a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, Canada. The Company also owns the True North mine and mill complex in Bissett, Manitoba. 1911 Gold believes its land package represents a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex.

In addition, the Company holds the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and remains focused on advancing organic growth while pursuing accretive acquisition opportunities across North America.

1911 Gold’s True North complex is located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

About The New Orleans Investment Conference

The New Orleans Investment Conference is the one place where the world’s most sophisticated investors gather every year to discover new opportunities and strategies, exchange ideas, plan for the coming year and enjoy the camaraderie of like-minded individuals in America’s most fascinating and entertaining city.

Headliners at the New Orleans Conference over the last 50 years have included Lady Margaret Thatcher, former President Gerald Ford, novelist Ayn Rand, General H. Norman Schwarzkopf, Nobel Prize-winning economists Milton Friedman and F.A. Hayek, Dr. Henry Kissinger, Senator Barry Goldwater, Admiral Hyman Rickover, Louis Rukeyser, Sir John Templeton, Lord William Rees-Mogg, Charlton Heston, Jeane Kirkpatrick, Robert Bleiberg, Jack Kemp, William F. Buckley, General Colin Powell, Ron Paul and J. Peter Grace, among hundreds of other notables.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

For further information, please contact:

Shaun Heinrichs
Chief Executive Officer

(604) 674-1293
ir@1911gold.com

www.1911gold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271734

News Provided by Newsfile via QuoteMedia

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Quimbaya Gold Announces Upsize of Bought Deal Financing to $12.5 Million

Investing 7 Mins Read

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./

Quimbaya Gold Inc. (‘Quimbaya’ or the ‘Company’) (CSE:QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) is pleased to announce that due to investor demand, it has entered into an amended agreement with Stifel Canada to act as sole underwriter and bookrunner (the ‘Underwriter’), to increase the size of its previously announced ‘bought deal’ private placement offering, pursuant to which the Underwriter has agreed to purchase on a bought deal basis, 17,900,000 units of the Company  (the ‘LIFE Units’) at a price of C$0.70 per LIFE Unit (the ‘Offering Price’) for aggregate gross proceeds of C$12,530,000 (the ‘Offering’), with the LIFE Units to be issued pursuant to the Listed Issuer Financing Exemption (as defined below). 

The Company has granted to the Underwriter an option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to an additional 15% of LIFE Units at the Offering Price for additional gross proceeds of up to C$1,879,500. 

Each LIFE Unit will consist of one common share (a ‘Common Share‘) and one-half (½) of one Common Share purchase warrant (each whole warrant, a ‘Warrant‘) of the Company. Each Warrant will be exercisable to acquire one Common Share for a period of 36 months following the closing date of the Offering at an exercise price of C$1.00 per common share.

The net proceeds from the Offering are expected to be used to advance the Company’s exploration programs, including drilling at the Tahami South project and follow-up work on regional copper-gold and gold targets, as well as for general working capital.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘NI 45-106‘), the LIFE Units will be offered for sale to purchasers resident in Canada other than Quebec and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the ‘Listed Issuer Financing Exemption‘). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the LIFE Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at quimbayagold.com. Prospective investors should read the offering document before making an investment decision.

The Offering is scheduled to close on or about November 4, 2025 (the ‘Closing Date‘) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the Canadian Securities Exchange.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, ‘U.S. Persons’ (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

 About Quimbaya

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific gold mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.

Quimbaya Gold Inc.

Follow on X @quimbayagoldinc
Follow on LinkedIn @quimbayagold
Follow on YouTube @quimbayagoldinc
Follow on Instagram @quimbayagoldinc
Follow on Facebook @quimbayagoldinc

Cautionary Statements

 Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking statements herein include statements and information regarding the closing of the Offering, Offering’s intended use of proceeds, any exercise of Warrants, the future plans for the Company, including any expectations of growth or market momentum, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company’s properties and any results thereof, the strength of the Company’s mineral property portfolio, the potential discovery and potential size of the discovery of minerals on any property of the Company’s, including Tahami South, the aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Company’s exploration and other activities will proceed as expected. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company’s mineral properties; an inability to finance the Company; obtaining required permitting on the Company’s mineral properties in a timely manner; any adverse changes to the planned operations of the Company’s mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company’s projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company’s ability to comply with environmental, health and safety laws. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

SOURCE Quimbaya Gold Inc.

View original content: http://www.newswire.ca/en/releases/archive/October2025/24/c2082.html

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Thor Energy Plans to Recover Uranium, Critical Minerals from Colorado Mine Waste

Investing 3 Mins Read

Thor Energy (ASX:THR,LSE:THR,OTCQB:THORF) has finalized a binding agreement with US-based DISA Technologies to treat abandoned uranium mine waste in Colorado to recover saleable uranium and other critical minerals as well.

Under the agreement, DISA will deploy its patented High-Pressure Slurry Ablation (HPSA) technology at Thor’s Colorado uranium projects, which are held through its US subsidiary, Standard Minerals. The company owns 25 percent of the uranium mineral rights, while the remaining 75 percent is held by London-listed Metals One (LSE:MET1).

Thor said it will receive a share of gross revenues generated from the sale of uranium and critical mineral concentrates recovered from the sites, with no capital or operating expenditures required on its part.

“This agreement finalises the details under which Thor will potentially generate revenue from the recovery of uranium and critical metals from its Colorado projects,” said Andrew Hume, Thor’s managing director and CEO.

“It is also fantastic to report that the US Nuclear Regulatory Commission has granted DISA a Service Provider’s License to remediate abandoned uranium mine waste. DISA is now the first company in the US to receive such approvals.”

DISA’s newly granted Service Providers License (SPL) from the US Nuclear Regulatory Commission (NRC) allows it to proceed with remediation of legacy uranium waste sites across the country.

The license, secured after a multi-year review process that began in 2021, enables DISA to operate modular mobile treatment plants using HPSA technology, a process designed to recover valuable resources from waste while mitigating environmental hazards.

Under the agreement, DISA will act as the project operator, responsible for all costs related to evaluation, permitting, treatment, and remediation.

Meanwhile, Thor, through Standard Minerals, will receive between 2.5 and 4 percent of gross product sales, depending on market conditions.

Beyond resource recovery, the process is expected to deliver environmental benefits by improving water quality and restoring legacy mine sites to productive use.

The project aligns closely with recent US policy efforts to unlock domestic mineral supplies from legacy sites. The Department of the Interior’s Secretarial Order No. 3436, issued earlier this year, directs agencies to accelerate recovery of critical and strategic minerals from mine waste and streamline permitting processes.

Next steps for Thor and DISA include conducting a detailed characterization program using assays and gamma probes to determine the quantity of recoverable minerals in the waste dumps.

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

This post appeared first on investingnews.com

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Angkor Finalizes Disposition of Oyadao North License in Ratanakiri, Cambodia

Investing 4 Mins Read

(TheNewswire)

GRANDE PRAIRIE, ALBERTA TheNewswire – October 24, 2025 – Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) (‘ANGKOR’ OR ‘THE COMPANY’) announces it has finalized the sale of all mineral rights on Oyadao North license to Almighty Natural Resources (‘Almighty’).

Angkor negotiated a sale of mineral rights of the Oyadao North license to Almighty Natural Resources and announced on June 26, 2024.   After delays from Almighty, the Company received $325,000 US as the final cash component in the transfer of license to Almighty and signed a 4% Net Smelter Royalty for Angkor to receive on production revenue from any mineral recovered and produced from the Oyadao North license.  The Company provided written confirmation to the Ministry of Mines and Energy of its agreement to transfer mineral rights.

Hommy Resources Ltd., holding a 30% interest in the property, chose to receive shares for their entire interest in the sale of the license, and participated in the shares for debt announced on Sept 23, 2025 receiving a total of 542,857 common shares of Angkor.

With final documentation completed on the disposition, Angkor continues with its priority projects of Block VIII onshore oil and gas, and its two remaining mineral licenses, Andong Meas in Ratanakiri and Andong Bor, which straddles Oddar Meanchey and Banteay Meanchey provinces in northwest Cambodia.

==================================================================

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia.   Since 2022, Angkor’s Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Saskatchewan, Canada.  ANGKOR’s carbon capture and gas conservation project is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions.

The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold.

Its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII.   The company then removed all parks and protected areas and added 220 square kilometers, making the just over 4095 square kilometers.  EnerCam is actively advancing oil and gas exploration onshore Cambodia to meet its mission of discovering and proving commercial oil and gas in Cambodia.

CONTACT: Delayne Weeks – CEO

Email: info@angkorresources.com Website: angkor resources.com Telephone: +1 (780) 831-8722

Please follow @AngkorResources on , , , Instagram and .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results o f future exploration, and the availability of financing.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Copyright (c) 2025 TheNewswire – All rights reserved.

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Torchlight Innovations Inc.Opens the Market

Investing 1 Min Read

Duane Nelson, President and Chief Executive Officer, Torchlight Innovations Inc. (TSXV: RZL) (‘Company’), and its executive management team, joined Omar Khafagy, Head Client Success, Toronto Stock Exchange (‘TSX’), to open the market and celebrate the Company’s new listing on TSX Venture Exchange.

Torchlight Innovations Inc., doing business as RZOLV Technologies (‘RZOLV’), is a Canadian clean-technology company redefining the $240 billion global gold mining sector. Their proprietary RZOLV formula provides a safer, more eco-friendly alternative to the $2B of cyanide used annually. RZOLV delivers similar leach kinetics and recoveries—at similar costs on ores, concentrates, and tailings. The Company is transitioning from pilot to commercial rollout with strong industry partnerships and recurring-revenue potential from reagent sales and licensing agreements. As the mining sector accelerates toward ESG-aligned operations, RZOLV stands at the intersection of profit and sustainability—offering investors scalable exposure to one of the most transformative shifts in modern resource extraction.

MEDIA CONTACT:
Duane Nelson
President & CEO
604-512-8118

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271794

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Business

Trump’s Argentina beef import plan will harm U.S. ranchers, industry warns

Business 2 Mins Read

The American cattle ranching industry is blasting President Donald Trump’s proposal to purchase beef from Argentina in an effort to lower supermarket beef prices.

“This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices,” Colin Woodall, CEO of the National Cattlemen’s Beef Association, said in a statement Monday.

Wyoming-based cattle operation Meriwether Farms addressed Trump directly in a social media post Monday.

“We love you and support you — but your suggestion to buy beef from Argentina to stabilize beef prices would be an absolute betrayal to the American cattle rancher,” the farm wrote on X.

By midday Tuesday, the post had already received 4 million views. A representative for Meriwether Farms did not immediately respond to a request for comment.

Trump floated purchasing beef from the South American nation Sunday aboard Air Force One to push down U.S. beef prices by increasing the overall supply.

‘We would buy some beef from Argentina,’ he told reporters, ‘If we do that, that will bring our beef prices down.’

Beef prices have hit record highs this year, according to data from the Bureau of Labor Statistics, fueled in part by depleted herd counts and steady demand from U.S. consumers.

This post appeared first on NBC NEWS

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Travis Kelce part of investor group aiming to revive struggling Six Flags

Business 2 Mins Read

A group that includes activist investor Jana Partners and NFL player Travis Kelce says it has accumulated one of the largest ownership stakes in Six Flags Entertainment and intends to press the company’s leadership on ways to improve the struggling amusement park operator’s business.

Jana said Tuesday that the investor group now owns an economic interest of approximately 9% in Six Flags. The group plans to ‘engage’ with Six Flags’ management and board of directors to discuss ways to enhance shareholder value and improve visitors’ experience.

Shares in the Charlotte, North Carolina-based Six Flags surged 17.7% on the news. The shares added another 5.1% gain in after-hours trading. Even with Tuesday’s rally, the company’s shares are down about 47% so far this year.

Six Flags reported a loss of $319.4 million for the first half of the year. The company said attendance fell 9% in the three months that ended June 29, due partly to bad weather and a ‘challenged consumer’ in most of the markets it operates in.

The investor group also includes consumer executive Glenn Murphy and technology executive Dave Habiger.

Kelce, tight end for the Kansas City Chiefs, said in a statement that he grew up going to Six Flags amusement parks.

‘The chance to help make Six Flags special for the next generation is one I couldn’t pass up,’ he said.

This post appeared first on NBC NEWS

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