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Heritage Mining Announces Non-Brokered Private Placement of Units and Flow-Through Units

Investing 5 Mins Read

(TheNewswire)

VANCOUVER, BC TheNewswire – March 7, 2025 Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce a non-brokered private placement (the ‘ Offering ‘) of units (‘ Units ‘) and flow-through units (‘ FT Units ‘) for gross proceeds of up to $1,3750,00.

Pursuant to the Offering, the Company intends to issue up to 13,750,000 Units of the Company at a price of $0.05 per Unit, for aggregate gross proceeds of up to $687,500, and up to 13,750,000 FT Units of the Company at a price of $0.05 per FT Unit, for aggregate gross proceeds of up to $687,500.

Each Unit will consist of one common share in the capital of the Company (‘ Common Share ‘) and one Common Share purchase warrant (a ‘ Warrant ‘). Each FT Unit will consist of one Common Share which will qualify as a ‘flow-through share’ as defined in subsection 66(15) of the Income Tax Act (Canada) and one Warrant.

Each Warrant will entitle the holder to acquire one Common Share (each, a ‘ Warrant Share ‘) at an exercise price of $0.10 per Warrant Share until 4:30 pm (Pacific Standard time) on that date that is 60 months from the closing date of the Offering (the ‘ Expiry Time ‘).

Closing of the Offering is expected to occur on or around March 27, 2025 (the ‘ Closing Date ‘).  The Offering is subject to all customary approvals. Proceeds of the Offering will be used to fund the Company’s planned exploration and drilling programs on its Drayton-Black Lake Project and Contact Bay and general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants.

‘Heritage Mining Ltd. has secured lead orders totaling up to C$250,000 from insiders, institutions, advisors, consultants, and existing shareholders. We are grateful for the continued support of existing stakeholders and look forward to closing the financing on or around March 27, 2025.’ Commented Peter Schloo, President, CEO, and Director.

ABOUT HERITAGE MINING LTD.

The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.

For further information, please contact:

Heritage Mining Ltd.

Peter Schloo, CPA, CA, CFA

President, CEO and Director

Phone: (905) 505-0918

Email: peter@heritagemining.ca

FORWARD-LOOKING STATEMENTS

This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

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Economy

Could Bitcoin Reach $200000? Market & Expert Insights

Economy 2 Mins Read

Bitcoin attracts bold predictions. Recent forecasts show that this top cryptocurrency may soon hit Bitcoin Reach $200000. Many trusted sources, including Yahoo Finance, CoinDesk, Bloomberg, and CNBC, have reported this forecast. This public news reflects rising optimism among market experts amid changing economic conditions.

Market Sentiment and Economic Drivers

Many analysts believe that economic uncertainty and rising prices create a strong chance for Bitcoin to serve as a safe asset. Investors now see Bitcoin as a reliable store of value. They shift funds to cryptocurrencies when they lose trust in traditional assets. In addition, new regulations in key markets push both large and small investors to spread their money across various assets.

Technical Analysis and Price Trends

Technical data supports a potential price surge. Long-term charts show an upward trend, while short-term drops offer good buying points. Trading volumes and network activity grow each day. Experts point to a limited supply and high demand as key reasons that Bitcoin Reach $200000 upto.

Investor Implications and Risk Management

Investors must stay alert in this volatile market. They should manage risk by diversifying their portfolios. Many experts advise reviewing holdings and allocating funds wisely. They also recommend keeping up with the latest market news and technical signals to guide decisions.

Conclusion

This forecast that Bitcoin may reach $200,000 comes from strong market sentiment, positive technical trends, and a unique economic climate. However, investors face a volatile market that demands caution. Experts urge both individual and institutional investors to monitor these trends closely and prepare for various market moves.

While reaching $200,000 is not guaranteed, this forecast offers valuable insight into the ever-changing crypto market. It shows that the market can shift quickly and that informed decisions are key. Investors should act wisely and stay updated on news and trends. By doing so, they can protect their investments and uncover new opportunities in the fast-paced world of cryptocurrencies.

The post Could Bitcoin Reach $200000? Market & Expert Insights appeared first on FinanceBrokerage.

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Economy

Goldman Sachs Kostin Warns of a Potential S&P 500 Correction

Economy 2 Mins Read

Goldman Sachs Kostin analyst has issued a warning that the S&P 500 may be headed for a significant correction. His comments, based on current market data and public economic trends, suggest that heightened market risks could force investors to reconsider their positions.

Rising Market Risks and Overvaluation

According to Goldman Sachs Kostin, current market conditions point to growing volatility. He notes that the S&P 500 appears overvalued when measured against fundamental economic indicators. In addition, factors such as rising interest rates and economic uncertainty have increased the overall market risk. These factors, when combined, can create an environment where a correction is likely.

Investor Caution Amid Volatile Trends

Investors are being urged to remain cautious. Kostin emphasizes that the prevailing market optimism may be unsustainable if key economic data turns negative. Many market experts agree that investor caution is necessary during such periods of volatility. In turn, a pullback in the S&P 500 could offer a correction that might reset market valuations to more sustainable levels.

Implications for the Broader Market

A potential S&P 500 correction could have far-reaching implications for other asset classes. With heightened market volatility, investors might shift their focus to safer assets. Moreover, such a correction may serve as a wake-up call for the broader market, prompting both retail and institutional investors to review their portfolios and risk management strategies.

Conclusion

In summary, public data and current market trends support Kostin’s warning about the S&P 500. Rising market risks, overvaluation, and economic uncertainties are key factors that may trigger a correction. Investors should stay informed and practice caution as they navigate these turbulent market conditions. Ultimately, this forecast calls for a balanced approach to risk and a strategic review of investment positions.

This analysis is based on widely reported public market data and reflects a growing consensus among financial experts. As the market evolves, monitoring these trends closely will be essential for making well-informed decisions.

The post Goldman Sachs Kostin Warns of a Potential S&P 500 Correction appeared first on FinanceBrokerage.

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Business

Applebee’s owner Dine Brands to lean on value, marketing to reverse sales declines

Business 4 Mins Read

Dine Brands hopes to boost sales this year with a wider swath of value meals and buzzier advertising after a rough 2024 for Applebee’s and IHOP.

“We had a soft year in 2024, which disappoints us, but we’re focused on improving that in 2025,” Dine Brands CEO John Peyton told CNBC. “We’ve got to have compelling messages and compelling promotions and compelling reasons to drive traffic into the restaurants.”

Dine on Wednesday reported fourth-quarter U.S. same-store sales dropped 4.7% at Applebee’s and 2.8% at IHOP, ending the year with four straight quarters of domestic same-store sales declines for its two flagship brands. Shares of Dine have fallen 50% over the last 12 months, dragging its market cap down to $386 million.

The company’s down year followed three years of strong growth for the company, driven by pent-up demand as diners returned to IHOP and Applebee’s after the pandemic. But like many restaurant companies, Dine saw a pullback last year from customers who make less than $75,000. After several years paying higher prices for groceries, rent, gas and other necessities, consumers opted to stay home to cook their meals or visit other chains that offered better deals or flashy promotions.

The slowdown in restaurant spending led a slew of casual-dining restaurant chains to file for bankruptcy over the last 12 months. Familiar names like Red Lobster and TGI Friday’s sought bankruptcy protection to reorganize their struggling businesses and offload their worst-performing restaurants. Most recently, On the Border filed for Chapter 11 bankruptcy on Tuesday.

Applebee’s promotions have failed to cut through much of the noise from the so-called value wars that have ignited across the restaurant industry, at chains from McDonald’s to Bloomin’ Brands’ Outback Steakhouse. Even a triad of recent pop-culture moments last year couldn’t boost its profile: a pivotal cameo in the tennis drama film “Challengers,” an Applebee’s-motivated meltdown on “Survivor” and a shoutout from football legend Peyton Manning during Netflix’s roast of his former rival Tom Brady.

“You’ve got most of the restaurant companies are advertising value, and they’re advertising full meal deals, and so it’s harder to break through with a message when there are so many similar messages out there,” Dine’s Peyton said.

But it’s not impossible to break out from the pack. Chili’s, which is owned by Brinker International, won over diners with its viral Triple Dipper and $10.99 burger combo after spending months turning around its business.

In its most recent quarter, Brinker reported same-store sales growth of 27.4%. Thanks to its dramatic comeback, the company has become the rare casual-dining darling of investors. Brinker’s stock has soared over the last year, nearly tripling its value in the same period and raising its market cap to $6.29 billion.

For now, the star of Applebee’s value promotions, the two for $25 deal, routinely accounts for roughly a fifth of the chain’s tickets, according to Peyton. But Applebee’s is looking to add to its value offerings later this spring or in the early summer with options that appeal to larger groups or to customers who don’t want to order with their dining partner.

Dine is also trying to improve its social media presence.

“At both IHOP and Applebee’s, we know we need to do better there. We know we need to be more relevant. We know that we have to be part of the conversation and the culture,” Peyton said.

A new president for Applebee’s could help with that goal.

Peyton is currently pulling double duty serving as interim president for the chain after Tony Moralejo stepped down effective Tuesday. Peyton said the company is looking for a replacement “with a great marketing background” who understands how to connect with younger customers, on top of being a great leader with an understanding of franchising and some restaurant experience. (Yum Brands’ Lawrence Kim joined Dine as IHOP’s president in early January, succeeding Jay Johns.)

Looking to 2025, Dine is trying to communicate better with its customers and use its menu innovation to attract younger diners, according to Peyton.

But Dine’s confidence in its ability to attract customers seems shaky. For 2025, the company is projecting Applebee’s same-store sales to range between a 2% decline and a 1% increase and IHOP’s same-store sales to range between a 1% decrease and a 2% gain.

This post appeared first on NBC NEWS

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Business

Walgreens to go private in roughly $10 billion deal

Business 3 Mins Read

Struggling drugstore chain Walgreens is going private. 

The company on Thursday said it inked a deal with private equity firm Sycamore Partners that will take it off the public market for an equity value of around $10 billion.

Sycamore will pay $11.45 per share in cash for Walgreens. Shareholders could also receive up to $3 more per share in the future from sales of Walgreens’ primary-care businesses, including Village Medical, Summit Health and CityMD. Walgreens said the total value of the transaction would be up to $23.7 billion when including debt and possible payouts down the line.

Walgreens and Sycamore expect to close the take-private deal in the fourth quarter of this year. Shares of Walgreens jumped more than 5% in after-hours trading on Thursday before being halted.

The historic deal ends Walgreens’ tumultuous run as a public company, which began in 1927. As of Thursday morning, shares of the company were up more than 15% for 2025, but the stock was still down more than 48% for the last year and had fallen 70% for the past three years. 

“While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company,” Walgreens CEO Tim Wentworth, who stepped into the role in 2023, said in a release on Thursday. “Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds.

Stefan Kaluzny, Sycamore’s managing director, said in the release the transaction reflects the firm’s confidence in Walgreens’ “pharmacy-led model and essential role in driving better outcomes for patients, customers and communities.”

Walgreens will maintain its headquarters in Chicago. The company currently has more than 310,000 employees globally and 12,500 retail pharmacy locations across the U.S., Europe and Latin America, according to the release. Walgreens still plans to release its second-quarter earnings on April 8.

Walgreens’s market value reached a peak of more than $100 billion in 2015 as investors gained confidence in its health-care business and expansion plans, making it one of the most prominent American retail companies. 

But the company’s market cap shrank to under $8 billion in late 2024 due to competition from its main rival CVS, grocery chains, big-box retailers and Amazon, along with a slew of challenges. Walgreens has been squeezed by the transition out of the Covid pandemic, pharmacy reimbursement headwinds, softer consumer spending and a troubled push into health care.

Both Walgreens and CVS have pivoted from years of store expansions to shuttering hundreds of retail pharmacy locations across the U.S. to shore up profits. But unlike CVS, which has diversified its business model by offering insurance and pharmacy benefits, Walgreens largely doubled down on its now-flailing retail pharmacy business. 

In October, Walgreens said it plans to close roughly 1,200 of its drugstores over the next three years, including 500 in fiscal 2025 alone. Walgreens has around 8,700 locations in the U.S., a quarter of which it says are unprofitable. The company has also scaled back its push into primary care by cutting its stake in provider VillageMD. 

Walgreens tapped health-care industry veteran Tim Wentworth as its new CEO in late 2023 to help regain its footing. 

The company has reportedly been seen as a potential private equity target in the past. 

In 2019, private equity firm KKR made a roughly $70 billion buyout offer to Walgreens, the Financial Times and Bloomberg reported at the time. 

This post appeared first on NBC NEWS

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Stock

Simple Approach to Transform Your Trading

Stock 1 Min Read

In this exclusive StockCharts video, Joe breaks down his trading strategy using multiple timeframes. He explains how to spot key patterns on higher timeframes and use lower timeframes for confirmation. Joe provides trading examples, including bearish setups, and analyzes the general market using the daily chart to predict the next major move. Finally, he reviews viewer-requested stock symbols for additional insights. Watch now to refine your technical analysis skills!

This video was originally published on March 5, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

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Stock

Elevate Your Options Trading!

Stock 1 Min Read

Follow along with this must-see video, where Tony will show you how to use the tools in the OptionsPlay Add-on to help find winning trades with just a few clicks.

Enhance your trading performance and discover how you can do the following:

  • Find winning trades by leveraging real-time strategy screening tools.
  • Find the highest-yielding trading opportunities using the StockCharts.com scan engine and OptionsPlay insights.
  • Get expert insights tailored to your needs.

This video premiered on March 4, 2025.

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Stock

Market Movers in Action: How to Identify High-Probability Dip-Buying Setups

Stock 5 Mins Read

If the essence of stock investing is to buy low and sell high, then buying not just low, but at a steep discount, optimizes your potential returns. This strategy is what’s popularly called “buying the dip.”

Aside from avoiding falling knives, buying the dip as a general approach requires three things:

  1. Finding tools to identify a broad range of declining stocks.
  2. Selecting only those strong stocks on the verge of rebounding.
  3. Formulating a market entry setup.

This article covers the first two steps, though I’ll guide you through all three. I’m emphasizing the first two because there are numerous tools—more than I can cover in a single article—to help you identify a wide range of tradable stocks.

Finding Declining Stocks Amid a Rallying Market

As the markets recovered on Wednesday from a steep two-day decline, my first step was to check the Market Movers tool on my Dashboard to see which stocks were getting hit the hardest.

FIGURE 1. MARKET MOVERS % DOWN. Crowdstrike took the top spot for the biggest percentage loss on Wednesday morning.

Crowdstrike (CRWD) was the biggest decliner, down at the time by nearly 9%. To get a broader picture of the sector action, I switched to MarketCarpets’ tech sector view. It turns out that CRWD was the worst-hit stock amid an otherwise mostly greenish landscape.

FIGURE 2. MARKETCARPETS TECH SECTOR VIEW. This tells you that CRWD was among a few tech stocks experiencing a significant drop, while others were potentially rebounding.

If you check the StockCharts’ Symbol Summary page, you can see CRWD’s earnings and revenue history. While the company recently missed earnings estimates despite beating revenue expectations, the real driver behind the decline was weak earnings guidance.

Let’s switch to a weekly chart for a broader view of CRWD’s price action.

FIGURE 3. WEEKLY CHART OF CRWD. Despite the two sharp drops, the broader trend, which is bullish, is still intact.

CRWD’s uptrend began in 2023 but tumbled sharply in July 2024 after a faulty software update triggered a global IT outage. The stock rebounded later that month, rising sharply only to fall again in February due to disappointing fiscal guidance, insider selling, regulatory scrutiny, and broader macroeconomic concerns that pressured growth stocks.

Nevertheless, the uptrend, as volatile as it is, remains arguably intact. Using the Bollinger Bands® to gauge the trending action, you can see that CRWD has fallen below the middle band to rebound (you see this on the daily chart) at $340. Traders found this to be a favorable spot for entry, and I’ll show you why in the next section when analyzing the price action from a closer perspective.

Meanwhile, CRWD’s StockCharts Technical Rank (SCTR) score remains above 70 (my strength indicating threshold) though falling below the ultra-bullish 90-line. What does this look like from a broader sector perspective? Relative performance shows that CRWD is outperforming the broader tech sector (represented by XLK) by over 36%, though its lead has narrowed.

Let’s switch to a daily chart to see the price action up close.

FIGURE 4. DAILY CHART OF CRWD. Accumulation appears sharp, despite the dip.

The current pullback can be effectively measured by historical support, as shown by the green highlight and a Fibonacci Retracement from the August (2024) low to the February high. I included both since traders may analyze them separately or together, especially as their proximity suggests a potential convergence.

As you can see, bullish investors jumped in at the support level of $340, though, technically, a decline to the range between $300 and $330 would still be considered a favorable dip for those looking to go long. After the initial bounce, price appears to be falling back toward $340. If it drops below the green support range, expect a deeper pullback toward the 50% and 61.8% Fib levels.

The Relative Strength Index (RSI) has declined and, although it isn’t signaling oversold conditions, if CRWD does recover soon, the indicator suggests there’s plenty of room on the upside to run (though momentum doesn’t appear to be picking up yet). 

On the volume side of things, the picture looks brighter. The Chaikin Money Flow (CMF) has declined slightly but still indicates strong buying pressure. But what pops out is the Accumulation/Distribution Line (the orange line overlaid on the price chart). While the price was falling, this ADL was rising, suggesting that buyers might have been absorbing shares sold by weaker hands.

At the Close

Although I took a deep dive into CRWD, the main takeaway here is how I used Market Movers and MarketCarpets to spot potential buy-the-dip opportunities. These tools help identify stocks experiencing sharp declines while also providing a sector-wide perspective to gauge their position among peers.

If you’re looking to widen your dip-buying strategy, test these tools under different market conditions and across various stocks and sectors. The more you use them, the better you’ll become at distinguishing between a real opportunity and a falling knife.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Stock

Why Investors Are Flocking to XPEV Stock: Decoding High SCTR Scores

Stock 3 Mins Read

And, the Oscar, er, top StockCharts Technical Rank (SCTR) goes to XPeng, Inc. (XPEV), a Chinese smart electric vehicle (EV) manufacturer. XPEV has silently crept its way to the top of the list.

The Chinese EV industry has seen increased sales in the last month. This has made the space much more competitive for Tesla, Inc. (TSLA), which is seeing its sales in China decline. With XPeng’s new SUV slated to hit the market soon, XPEV has high hopes for 2025. I’m sure we’ll hear more about this when the company announces earnings on March 18, before the US market opens.

XPeng’s stock price has been rising steadily since August 2024, attracting the attention of several Wall Street analysts, many of whom have upped their ratings on the stock. And for good reason. The chart below compares XPEV stock to TSLA stock. Since mid-December, TSLA’s stock price (black solid line) has declined while XPEV’s has risen.

FIGURE 1. XPEV’S STOCK PRICE VS. TSLA’S STOCK PRICE. TSLA was the outperformer until mid-December, after which it started declining. In February 2025, XPEV outperformed TSLA.Chart source: StockCharts.com. For educational purposes.

Technically, XPEV has a lot going for it.

  • The stock is in a steady uptrend—its one-year performance is +132.81%.
  • XPEV’s SCTR score of 99.9 indicates the stock is technically strong.
  • The relative strength index (RSI) has just crossed 70, indicating there’s room for XPEV’s stock price to move higher.

The daily chart shows the stock price is trading close to its 52-week high of $22.80. A breakout above this level would be positive for the stock and could pave the way for the stock price to move toward its all-time high of $74.49. Let’s switch to the weekly chart of XPEV.

The weekly chart below shows XPEV’s stock price is approaching its weekly July 2023 high, which could be the more likely resistance level XPEV would have to break through.

FIGURE 2. WEEKLY CHART OF XPEV’S STOCK PRICE. The stock price is approaching its 2023 weekly high, which could act as a resistance level. The percentage price oscillator in the lower panel indicates strong momentum in the stock’s price.Chart source: StockCharts.com. For educational purposes.

The percentage price oscillator (PPO) in the lower panel shows the stock has had strong upside momentum and could be overbought. A pullback in the stock’s price is likely to occur. If this pans out and XPEV reverses and pushes through the resistance on the weekly chart with a strong upside follow-through, it would be worth adding XPEV to your portfolio.

Keep an eye on this one. At the rate smart EVs are going, don’t be surprised to find flying cars coming to dealerships.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Investing

Ukraine Invites Australian Miners to Invest in Resources Amid US Commitment Concerns

Investing 4 Mins Read

Vasyl Myroshnychenko, Ukraine’s ambassador to Australia, is appealing to Australian miners to invest in Ukraine’s resource sector amid heightening tensions between the US and Ukraine

The request comes as Ukraine seeks ways to fund its three year defense against Russia’s invasion, an effort that became more dire this week as US President Donald Trump paused all aid to the country on Monday (March 3).

The US head of state made the decision after negotiations between the two countries broke down on February 28 while Ukrainian President Volodymyr Zelenskyy was visiting the White House to pen a deal regarding mineral rights for US security.

During the televised meeting between Trump, US Vice President JD Vance and Zelenskyy, a heated exchange ensued, turning the formal conversation into finger pointing and a series of accusations.

Ukraine welcomes Australian mining investment

According to the Nightly, Myroshnychenko said Russia is looking to break the bond between the US and Europe.

“If Russia achieves what they want, that would be a world of chaos … where might is right, where the stronger one will have the power and in this world, Australia has no chance of surviving,’ he said.

“There is a moral argument in terms of security, democracy and helping Ukraine, helping the underdog who’s been bullied; it’s all valid but I think we have to talk about money,” Myroshnychenko continued.

He opened the invitation to non-mining companies as well, noting, “This is an opportunity for Australian companies, for mining companies, to come and invest in Ukraine together with American companies.”

Australia’s support of Ukraine

Australia and Ukraine have a long history of cooperation and allyship.

The country supplied uranium to Ukraine in 2016 via an agreement where Ukraine joined other countries in a pact with Australia, ensuring that uranium obtained from Australia is designated strictly for peaceful uses.

A Nuclear Cooperation Agreement with Ukraine was announced in 2017 by Julie Bishop, then the country’s foreign affairs minister, enabling Australia to export uranium to Ukraine and enhance cooperation between the countries on activities such as nuclear safeguards, security, safety and science.

During Ukraine’s defense against Russia, Australia has assisted Ukraine by offering cash and resource support.

In 2022, the Australian mining sector and the federal government joined hands in offering donations.

Australian Resources & Investment notes said that Whitehaven Coal (ASX:WHC,OTC Pink:WHITF) produced 70,000 tonnes of thermal coal to be donated to Ukraine to support its energy security.

Major miners BHP (ASX:BHP,NYSE:BHP,LSE:BHP), Newmont (TSX:NGT,NYSE:NEM) and Anglo American (LSE:AAL,OTCQX:AAUKF), each donated US$5 million at the time for humanitarian relief.

Last October, the Australian government gifted 49 M1A1 Abrams tanks to Ukraine to assist in its fight against Russia’s invasion. This donation was valued approximately AU$245 million.

On the third anniversary of Russia’s full-scale invasion of Ukraine, an announcement by Senator Penny Wong said Australia’s military assistance to Ukraine during that time amounts to over AU$1.3 billion.

In total, the support is valued at over AU$1.5 billion.

“Australia has now imposed a total of more than 1,400 sanctions in response to Russia’s full-scale invasion of Ukraine,” Wong said. “Working with Ukraine and our partners, Australia supports a just and lasting peace for Ukraine.”

Australia seeking rare earths independence

While Myroshnychenko invited broad investment in Ukraine’s resource sector, rare earths may be of special interest to Aussie miners as the country makes moves toward rare earths supply independence.

These include strategies from both the government and mining companies such as Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF), a leading producer of rare earth materials outside of China.

Lynas owns the recently opened Kalgoorlie rare earths processing facility in Western Australia, the country’s first rare earths processing facility and the largest facility outside China.

On February 12, the Australian government passed the Critical Minerals Production Tax Incentive, which will provide a refundable tax credit on 10 percent of eligible costs associated with the production of critical minerals and rare earths.

Federal Resources Minister Madeleine King said the incentives are valued at AU$7 billion over the decade.

“The passing of this legislation is a historic moment for the resources industry and a big deal for resource states like Western Australia and Queensland,” she explained. “By processing more of these minerals here in Australia we will create jobs and diversify global supply chains.”

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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