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Canadians still rejecting US travel as boycott continues

Canadians still rejecting US travel as boycott continues

Travel to the United States took another hit in April with booking agents saying an "elbows up" attitude over the trade war has Canadians pulling back.
Canadian residents returning by automobile from the U.S. in April fell on a year-over-year basis for the fourth consecutive month, preliminary numbers released by Statistics Canada showed Monday. The 1.2 million trips represented a 35.2 per cent drop from the same month in 2024 and 45.1 per cent lower than April 2019, before the pandemic.
In a backlash against U.S. President Donald Trump's tariffs and "51st-state" threats over the past few months, Canadians have cancelled trips and appear to be stepping back from making future travel plans south of the border.
This trend in leisure travel is likely to persist, and even ramp up, over the coming months, says Richard Vanderlubbe, president of the travel agency tripcentral.ca.
"Outright cancellations? We didn't have a lot," said Vanderlubbe of the early months of trade tensions. That's because people would have lost money on their advanced bookings — mostly on non-refundable reservations and deposits made before the tariff threats began — if they decided against the trip.
"But when it comes to new bookings and new decisions, whether to travel to the U.S., I think that's going to get worse than the numbers that we're observing," he said.
The decline is likely to come from people deciding among their social networks to boycott the U.S. as they map out their future vacation plans, Vanderlubbe anticipated.
Canadian residents returning by automobile from the U.S. in April fell on a year-over-year basis for the fourth consecutive month, preliminary numbers released by Statistics Canada showed Monday.
Canadian residents returning by air from the United States in April totalled 582,700, down 19.9 per cent from a year ago, even as return trips from overseas went up.
The change came as overall Canadian-resident return trips by air edged down 1.7 per cent to 1.8 million as return trips from overseas countries rose 9.9 per cent compared with April 2024.
Overall international arrivals, including both Canadian residents and non-residents, by air and automobile totalled 4.5 million in April, down 15.2 per cent from the same month last year, Statistics Canada said.
Flight Central is seeing similar drops in bookings to the U.S. among its clients.
Bookings to the U.S. in April declined 53 per cent at the travel agency, said Amra Durakovich, spokeswoman for Flight Central Travel Group Canada.
But she said she doesn't think the decline signals a permanent pullback.
"It's more a recalibration," Durakovich said. "The fact is that once there's uncertainty, that definitely impacts travel demand."
Durakovich said Canadians are looking to Europe, Asia and South America. She said there are a higher number of bookings to Japan, South Korea, Thailand and Colombia.
Canadian airlines are also watching the travel trends closely.
In March, Air Canada reduced flights by 10 per cent to Florida, Las Vegas and Arizona — usually go-to hot spots during spring break season. Competitors WestJet, Flair Airlines and Air Transat made similar moves.
Last week, Air Canada also announced a 16 per cent capacity increase into Latin America starting in October.
"What we're seeing is Canadians — they're really travelling with more intention," Durakovich said. "If they're going to go to the U.S., they're simply going to go, but those who don't want to go, they're just not going."
— With files from Christopher Reynolds in Montreal.

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Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units
Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units

Cision Canada

time2 hours ago

  • Cision Canada

Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units

VANCOUVER, BC, June 9, 2025 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce that it has closed its non-brokered private placement (the " Private Placement"), previously announced on May 26, 2025 and June 4, 2025, consisting in the issuance of: (i) 11,206,088 common shares of the Company issued on a flow-through basis under the Income Tax Act (Canada) (each, a " FT Share") at a price of $0.11 per FT Share, and (ii) 4,400,000 non-flow-through units of the Company (each, a " NFT Unit") at a price of $0.10 per NFT Unit, for aggregate gross proceeds to the Company of $1,672,670. Each NFT Unit was comprised of one non-flow-through common share of the Company (each, a " NFT Share") and one non-flow-through common share purchase warrant (a " Warrant"). Each Warrant is exercisable by the holder thereof to acquire one NFT Share at an exercise price of $0.20 per NFT Share until June 9, 2027, subject to acceleration as described in the Company's press release dated June 4, 2025. The Company intends to use the gross proceeds of the Private Placement for exploration of the Company's SAY, JJB and Silver Hope properties, and for general working capital purposes, as more particularly described in the amended and restated offering document in respect of the Private Placement filed on under the Company's profile. The Company will use the gross proceeds from the issuance of FT Shares to incur "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures", as such terms are defined in the Income Tax Act (Canada). The Private Placement was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued to purchasers in the Private Placement are not subject to a hold period under applicable Canadian securities laws. The securities issued to certain insiders of the Company that participated in the Private Placement are subject to a hold period expiring on October 10, 2025 in accordance with the policies of the TSX Venture Exchange (the " TSXV"). The Private Placement is subject to the final approval of the TSXV. The Company paid aggregate cash finder's fees of $89,196 and granted 829,145 non-transferable finder warrants (each, a " Finder Warrant") to arm's length finders of the Company, as compensation for locating purchasers in the Private Placement. Each Finder Warrant entitles the holder thereof to purchase one non-flow-through common share of the Company at an exercise price of $0.20 per share until June 9, 2027. The Finder Warrants and the common shares issued on exercise thereof are subject to a hold period expiring on October 10, 2025 in accordance with applicable securities laws. Gordon Steblin, the Chief Financial Officer of the Company, participated in the Private Placement by subscribing for 200,000 FT Shares, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101"). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by Mr. Steblin as a result of his participation in the Private Placement. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insider in the Private Placement in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Private Placement. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto. The Company did not file a material change report less than 21 days before the expected closing date of the Private Placement as the insider participation was not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder. About Finlay Minerals Ltd. Finlay is a TSXV company focused on exploration for base and precious metal deposits through the advancement of its ATTY, PIL, JJB, SAY and Silver Hope Properties; these properties host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and central BC. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries. Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at On behalf of the Board of Directors, Robert F. Brown, Executive Chairman of the Board & Director Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the final approval for the Private Placement from the TSXV and the planned use of proceeds for the Private Placement. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the ability to obtain regulatory approval for the Private Placement, the state of equity markets in Canada and other jurisdictions, market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements, and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law. SOURCE Finlay Minerals Ltd.

Highly successful raising leaves FireFly with $135m to fund multi-pronged growth strategy
Highly successful raising leaves FireFly with $135m to fund multi-pronged growth strategy

Cision Canada

time2 hours ago

  • Cision Canada

Highly successful raising leaves FireFly with $135m to fund multi-pronged growth strategy

Proceeds from the raising to be used to accelerate exploration campaign with seven rigs to drive rapid value by increasing and upgrading the Mineral Resource while conducting mining studies FireFly has received firm commitments totalling approximately A$95m (before costs) via a charity flow-through offering, two-tranche institutional placement, and Canadian bought deal financing FireFly also intends to undertake a non-underwritten Share Purchase Plan to raise up to an additional A$5m (before costs) at the same offer price as the two-tranche institutional placement FireFly will receive an average price of A$1 per share in the raising, representing a discount of just 2.9% to the last sale price, after allowing for the Canadian flow-through premium PERTH, Australia, June 9, 2025 /CNW/ - FireFly Metals Ltd (ASX: FFM) (TSX: FFM) (FireFly or Company) is pleased to announce a highly successful equity raising which ensures the Company is set for substantial ongoing growth through its Green Bay Copper-Gold Project in Canada. FireFly has received firm commitments to raise up to ~A$95 million (before costs) by the issue of up to approximately 94.7 million fully paid ordinary shares in the Company (New Shares) under the Equity Raising (defined below). By utilising the Canadian flow-through provisions, the Company will receive an average price of A$1 per New Share, which is a discount of just 2.9% to the last sale price. FireFly Managing Director Steve Parsons said: "The overwhelming demand for the raising reflects the quality and growth outlook at Green Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects. "The combination of the exceptional Green Bay asset, our proven exploration team and our A$135m cash war chest is the ideal recipe for growth. "This outlook is further enhanced by the shortage of such outstanding projects which can meet investors' surging appetite for copper-gold exposure". Equity Raising Details The equity raising will be completed in three parts (together, the Equity Raising), comprising: ~A$11.2 million (~C$10.0 million) charity flow-through placement to Canadian investors priced at approximately A$1.49 per New Share, which represents a 44.6% premium to FireFly's last closing price on Wednesday, 4 June 2025, and a 55.0% premium to the offer price under the Institutional Placement of A$0.96 per New Share (Charity Flow-Through Placement); ~A$54.9 million two-tranche institutional placement at the offer price of A$0.96 per New Share, which represents a 6.8% discount to FireFly's last closing price and a 7.2% discount to FireFly's 10-day volume weighted average price up to and including Wednesday, 4 June 2025 (Institutional Placement); and ~A$28.8 million (~C$25.8 million) fully underwritten Canadian bought deal offering with BMO Capital Markets. Concurrently with the Equity Raising, FireFly is also offering Eligible Shareholders (defined below) the opportunity to participate in a non-underwritten Share Purchase Plan (SPP) to raise up to an additional A$5,000,000 before costs (with the ability to accept oversubscriptions, at the discretion of the Company). Charity Flow-Through Placement The Company has received firm commitments under the Charity Flow-Through Placement to raise approximately C$10.0 million (~A$11.2 million) 1, before costs, through the issue of approximately 7.6 million New Shares at an issue price of approximately C$1.32 (A$1.49) per New Share (Flow-Through Shares) to be issued as Canadian "flow-through shares", which provide tax incentives to those investors for certain exploration expenditures that qualify under the Income Tax Act (Canada). Pursuant to a block trade agreement between PearTree Securities Inc. (PearTree) and Canaccord Genuity (Australia) Limited (Canaccord Genuity), Canaccord Genuity will facilitate the secondary sale of the Flow-Through Shares acquired by PearTree clients under the Charity Flow-Through Placement to sophisticated and professional investors by way of a block trade at A$0.96 per Flow-Through Share. The tax benefits associated with the Flow-Through Shares are available only to the initial investors (who are Canadian residents) and not to any other person who acquires the Flow-Through Shares through the on-sale or transfer of those Flow-Through Shares. _______________________________ 1 Based on an implied exchange rate of 0.8890. The Flow-Through Shares will be issued under the Company's existing placement capacity under ASX Listing Rule 7.1. Settlement of the New Shares under the Charity Flow-Through Placement is expected to occur on 13 June 2025 (followed by the block trade). The Flow-Through Shares will rank equally with the Company's existing ordinary shares on issue. A transaction specific prospectus under section 713 of the Corporations Act 2001 (Cth) (Corporations Act) will be issued in connection with the Charity Flow-Through Placement to facilitate secondary trading of the New Shares the subject of the Charity Flow-Through Placement. The Charity Flow-Through Placement has been facilitated by Canadian flow-through share exempt market dealer, PearTree, pursuant to a subscription and renunciation agreement with the Company. PearTree will not receive any fees or commission from the Company for its role with respect to the Charity Flow-Through Placement. Institutional Placement The Company has received firm commitments from sophisticated and professional investors under the Institutional Placement to raise approximately A$54.9 million (before costs) through the issue of approximately 57.2 million New Shares at an issue price of A$0.96 per New Share (Placement Shares). The Institutional Placement consists of approximately: 28.1 million New Shares to be issued under FireFly's existing placement capacity under ASX Listing Rule 7.1 to raise approximately A$26.9 million (before costs) (T1 Placement Shares); and 29.2 million New Shares to raise approximately A$28.0 million (before costs), subject to receipt of shareholder approval at a general meeting expected to be held in mid-July 2025 (T2 Placement Shares). Settlement of the T1 Placement Shares is expected to occur on or around Friday, 13 June 2025. Canadian Bought Deal Financing FireFly has entered into an agreement with BMO Nesbitt Burns Inc. (BMO), pursuant to which BMO has agreed to purchase, on a bought deal basis, 30,000,000 New Shares at a price of C$0.86 (A$0.96) per New Share for gross proceeds of C$25.8 million (approximately A$28.8 million) 2 (the Canadian Offering). The Company has also granted BMO an option, exercisable at the offering price (i.e. C$0.86 per New Share) for a period of 30 days following the closing of the Canadian Offering, to purchase up to an additional 3,000,000 New Shares to cover over-allotments, if any, and for market stabilization purposes. ______________________________ 2 Based on an implied exchange rate of 0.8958. The New Shares under the Canadian Offering are being offered in Canada by way of a short form prospectus in all of the provinces of Canada, except Quebec, and by way of private placement in the United States and offshore jurisdictions in accordance with applicable laws. The Canadian Offering is expected to close on or about 20 June 2025 and is subject to the Company receiving all necessary regulatory approvals. The New Shares the subject of the Canadian Offering will be issued under the Company's existing placement capacity under ASX Listing Rule 7.1. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Share Purchase Plan The Company is offering shareholders who were registered as a holder of Shares as at 5.00pm (AWST) on 4 June 2025 (Record Date) and whose registered address is in Australia or New Zealand (Eligible Shareholders) the opportunity to subscribe for a maximum of A$30,000 worth of fully paid ordinary shares in the Company (SPP Shares) at an issue price of A$0.96 per SPP Share (being the same price as the Institutional Placement), to raise up to A$5.0 million (before costs) under the SPP. The Company reserves the right to take oversubscriptions in accordance with the ASX Listing Rules and the Corporations Act. An SPP booklet containing further information in relation to the SPP, including the scale-back policy and other terms and conditions, is expected to be released on ASX and dispatched to Eligible Shareholders on or around 16 June 2025. Use of Funds The net proceeds of the Equity Raising and SPP will be primarily used for expenditure at the Green Bay Copper-Gold Project including underground development, Resource extension and infill drilling, regional and near mine exploration and drill testing, pre-construction and study works. The net proceeds will also be used for transaction costs and working capital. Advisers Canaccord Genuity is acting as Sole Lead Manager and Bookrunner to the Institutional Placement, and on the block trade component of the Charity Flow-Through Placement. Euroz Hartleys Limited and Argonaut Securities Pty Ltd are acting as Co-Managers to the Institutional Placement. BMO Capital Markets is acting as Sole Underwriter and Bookrunner to the Canadian Offering. Hamilton Locke is acting as Australian legal advisor to the Company and Osler, Hoskin & Harcourt LLP is acting as Canadian legal advisor to the Company. This announcement has been authorised by the Board of Directors. Indicative Timetable Key Event Date Trading halt lifted and trading resumes Tuesday, 10 June 2025 DvP Settlement of T1 Placement Shares issued under the Institutional Placement Friday, 13 June 2025 Settlement, Allotment and Trading of New Shares issued under the Charity Flow-Through Placement Friday, 13 June 2025 DvP Allotment and normal trading of T1 Placement Shares issued under the Institutional Placement Lodgement of SPP Offer booklet and SPP Offer opens Monday, 16 June 2025 Issue of New Shares under Canadian Offering Friday, 20 June 2025 Close of SPP offer Monday, 7 July 2025 Issue of SPP Shares Monday, 14 July 2025 General Meeting to approve the issue of T2 Placement Shares under the Institutional Placement Indicatively Mid-July 2025 Settlement, Allotment and Trading for T2 Placement Shares issued under the Institutional Placement Indicatively Mid-July 2025 and following the General Meeting The above timetable is indicative only and subject to change. The Company reserves the right to amend any or all of these dates and times without notice, subject to the Corporations Act, the ASX Listing Rules and other applicable laws. ABOUT FIREFLY METALS FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada, which is comprised of multiple assets, including the Ming underground mine and Little Deer exploration project. The Green Bay Copper-Gold Project currently hosts a Mineral Resource prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012) and Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) of 24.4Mt of Measured and Indicated Resources at 1.9% for 460Kt CuEq and 34.5Mt of Inferred Resources at 2% for 690Kt CuEq. The Company has a clear strategy to rapidly grow the copper-gold Mineral Resource to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program. FireFly holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km 2 tenement holding. The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia. For further information regarding FireFly Metals Ltd please visit the ASX platform (ASX:FFM) or the Company's website or SEDAR+ at Mineral Resources Estimate – Green Bay Project The Mineral Resource Estimate for the Green Bay Project referred to in this announcement and set out at Appendix A was first reported in the Company's ASX announcement dated 29 October 2024, titled "Resource increases 42% to 1.2Mt of contained metal at 2% Copper Eq" and is also set out in the Technical Reports for the Ming Copper Gold Mine, titled "National Instrument 43-101 Technical Report, FireFly Metals Ltd., Ming Copper-Gold Project, Newfoundland" with an effective date of November 29, 2024 and the Little Deer Copper Project, titled "Technical Report and Updated Mineral Resource Estimate of the Little Deer Complex Copper Deposits, Newfoundland, Canada" with an effective date of June 26, 2024, each of which is available on SEDAR+ at The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the original announcement continue to apply and have not materially changed. Metal equivalents for the Mineral Resource Estimate mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Individual Mineral Resource grades for the metals are set out at Appendix A of this announcement. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822). Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal metallurgical recovery was assumed at 85% on the basis of historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase precious metal recoveries. In the opinion of the Company, all elements included in the metal equivalent calculations have a reasonable potential to be sold and recovered based on current market conditions, metallurgical test work, and historical performance achieved at the Green Bay project whilst in operation. Mineral Resources Estimate – Pickle Crow Project The Mineral Resource Estimate for the Pickle Crow Project referred to in this announcement was first reported in the Company's ASX announcement dated 4 May 2023, titled "High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t" and is also set out in the Technical Report for the Pickle Crow Project, titled "NI 43-101 Technical Report Mineral Resource Estimate Pickle Crow Gold Project, Ontario, Canada" with an effective date of November 29, 2024 available on SEDAR+ at The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the original announcement continue to apply and have not materially changed. COMPETENT PERSON / QUALIFIED PERSON All technical and scientific information in this announcement has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez BSc, Geology (Masters), Geostatistics (Postgraduate Diploma), who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Gutierrez is a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. FORWARD-LOOKING INFORMATION This announcement may contain certain forward-looking statements and projections, including statements regarding the Equity Raising, the SPP, and FireFly's plans, forecasts and projections with respect to its mineral properties and programs, including the use of proceeds of the Equity Raising and SPP and the completion and expected closings of the Equity Raising and SPP. Forward-looking statements may be identified by the use of words such as "may", "might", "could", "would", "will", "expect", "intend", "believe", "forecast", "milestone", "objective", "predict", "plan", "scheduled", "estimate", "anticipate", "continue", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives. Although the forward-looking statements contained in this announcement reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements and projections are estimates only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company, which may include changes in commodity prices, foreign exchange fluctuations, economic, social and political conditions, and changes to applicable regulation, and those risks outlined in the Company's public disclosures. The forward-looking statements and projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of Mineral Resources or Ore Reserves, that FireFly's plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of FireFly's mineral properties. The performance of FireFly may be influenced by a number of factors which are outside of the control of the Company, its directors, officers, employees and contractors. The Company does not make any representations and provides no warranties concerning the accuracy of any forward-looking statements or projections, and disclaims any obligation to update or revise any forward-looking statements or projections based on new information, future events or circumstances or otherwise, except to the extent required by applicable laws. Green Bay Copper-Gold Project Mineral Resources Ming Deposit Mineral Resource Estimate Little Deer Mineral Resource Estimate GREEN BAY TOTAL MINERAL RESOURCE ESTIMATE 1. FireFly Metals Ltd Mineral Resources for the Green Bay Copper-Gold Project, incorporating the Ming Deposit and Little Deer Complex, are reported in accordance with the JORC Code 2012 and NI 43-101. 2. Mineral Resources have been reported at a 1.0% copper cut-off grade. 3. Metal equivalents for the Mineral Resource Estimate has been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Metallurgical recoveries have been set at 95% for copper and 85% for both gold and silver. CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822). 4. Totals may vary due to rounding. SOURCE FireFly Metals Ltd.

Opinion: Most Canadians don't support taxpayer subsidies for LNG
Opinion: Most Canadians don't support taxpayer subsidies for LNG

Vancouver Sun

time3 hours ago

  • Vancouver Sun

Opinion: Most Canadians don't support taxpayer subsidies for LNG

Proponents often claim that Canada's LNG will reduce global warming by displacing coal in other countries. However, we have run out of time for a 'transition fuel' if we're to meet the goals of the Paris Agreement. In this context, new LNG infrastructure isn't a climate solution, but rather a substitute for investment in clean energy. Luckily, the price of renewables has dropped dramatically, making this transition both feasible and affordable. LNG is also a bad economic bet. The International Energy Agency has projected that LNG capacity will exceed demand by the next decade, making new capital investments especially risky. This is presumably why private investors are wavering and looking to Canadian governments to subsidize their projects with public dollars. A daily roundup of Opinion pieces from the Sun and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Informed Opinion will soon be in your inbox. Please try again Interested in more newsletters? Browse here. A recent poll found that 56 per cent of respondents, both in B.C. and nationally, oppose multibillion-dollar public subsidies for foreign-owned LNG projects. Only 18 per cent of Canadians, and 22 per cent of British Columbians, are supportive while the rest are unsure. In B.C., where most LNG projects are proposed and LNG Canada will soon come online, people have other priorities for their tax dollars. In fact, supporting oil-and-gas is at the bottom of a list led by health care, housing, education, renewable energy and transit. The lack of public support for subsidizing fossil fuels has been consistent for years. In 2018, two-thirds of Canadians opposed subsidizing oil-and-gas, 41 per cent strongly. More than half remained unsupportive, even after being told oil-and-gas subsidies would create jobs and economic growth. In 2021, 62 per cent of Canadians wanted the federal government to stop fossil fuel subsidies and there was mounting frustration that the government hadn't acted on a 2015 campaign promise to do so. In 2023, the majority of Canadians felt that oil companies, not taxpayers, should foot the bill for the Trans Mountain pipeline expansion. Only 30 per cent of British Columbians supported subsidies for LNG. A 2023 poll found 96 per cent of Canadians felt the federal government should disclose subsidies for fossil fuels. That year, the government of Canada signed a joint ministerial statement at the UN climate talks that committed them to do just that by the end of 2024. There is still no inventory of fossil fuel subsidies in mid-2025, undermining Canadians' ability to understand where their tax dollars are going. Canada claims to be a global leader on climate change, yet we continuously fail to meet our climate targets. The main reason is that emissions growth from oil-and-gas production has offset progress in other areas. According to the UN Environment Programme , governments around the world, including Canada, are planning for continued fossil fuel production that will result in more than double the global emissions scientists advise are consistent with limiting warming to 1.5 C. Canada, unfortunately, is one the biggest funders of the fossil fuel industry globally. That includes billions of taxpayer dollars that the federal and B.C. governments have already committed to LNG in the form of direct subsidies, lower tax and electricity rates, and public loans. Canadian taxpayers have been footing the bill for fossil fuel developments that threaten our own climate, health and economy. In this critical moment, Canada's leaders should instead use public funds to support projects that advance Canada's economy and safety, not only today but for decades to come. Kathryn Harrison is professor of political science at the University of B.C. Cara Pike is co-founder and senior adviser to at Carleton University in Ottawa.

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