Latest news with #DavidPalmer
Yahoo
04-06-2025
- Business
- Yahoo
Probe Gold awards engineering contracts for Novador project's pre-feasibility study
Probe Gold is advancing its Novador project in Canada with the awarding of all major engineering contracts for the pre-feasibility study (PFS), which is on track for completion by the end of 2025. The PFS is a critical step in assessing the project's viability and moving towards the feasibility study and permitting phase. Ausenco Engineering Canada has been appointed to lead the PFS, tasked with managing project timelines, milestones and deliverables. The company will provide technical expertise in infrastructure, metallurgy and processing, and is responsible for creating a detailed project execution plan, including capital and operational expenditure estimates. G Mining Services will handle the mining engineering aspects of the PFS, including the design and planning for both open-pit and underground operations, as well as the development of the mining execution strategy. Its work will encompass the necessary infrastructure and cost estimates related to mining activities. GHD is set to manage engineering related to tailings and water management infrastructures. Leveraging the company's ongoing work on the physical environment baseline studies, GHD will integrate its knowledge of the site and regulatory requirements into the design and solution selection process. Probe Gold president and CEO David Palmer said: 'With these key contracts in place, Probe is well positioned to advance the Novador Project into its next phase of development and deliver a robust, high-quality pre-feasibility study. By working with global leaders, Ausenco for process infrastructure, G Mining Services for mining engineering, and GHD for water and tailings management, we have strong confidence in the technical quality and scope of the work ahead. Palmer added: "At the same time, we are making steady progress on our permitting strategy. With the successful completion of our recent financing, Probe is fully funded to advance through the next stages of regulatory and permitting work, creating meaningful value for our shareholders.' The Novador project, spanning 202km², is home to four past-producing mines and 80% of Probe Gold's gold resources in Val-d'Or East. The project benefits from being located in a politically stable region with a history of low-cost mining operations, active producers and existing mills. In addition to these developments, Probe Gold completed the acquisition of the Bermont Claims adjacent to its Monique gold deposit from Gestion Jadmine in January. The $3m (C$4.12m) deal, which includes cash and shares, further solidifies the company's presence in Val-d'Or, Quebec, with additional payments contingent on resource confirmation. The transaction involved $1.5m in cash and the issuance of 894,432 shares at $1.677 each. "Probe Gold awards engineering contracts for Novador project's pre-feasibility study" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
Probe Awards Key Engineering Contracts to Advance Novador Project Pre-Feasibility Study
Highlights: Ausenco Engineering Canada ULC will lead the Pre-Feasibility Study (PFS) and will be responsible for the process plant design, the supporting infrastructure, overall opex and capex. G Mining Services will lead the mining engineering scope of the project including mining opex and capex. GHD will lead the scope of the project related to the design of tailings and water management infrastructures. Probe has successfully completed a 50,000-metre infill drilling program to support the PFS, which remains on track for completion by year-end 2025. TORONTO, June 03, 2025 (GLOBE NEWSWIRE) -- PROBE GOLD INC. (TSX: PRB) (OTCQB: PROBF) ("Probe" or the "Company") is pleased to announce that it has awarded all major engineering contracts for project management services related to the Pre-Feasibility Study ('PFS') of its flagship Novador Project. The PFS is scheduled for completion by the end of 2025. Ausenco Engineering Canada ULC ('Ausenco') has been appointed to lead the PFS and will oversee project timelines, milestones, and deliverables. Ausenco will contribute technical expertise across core engineering disciplines, including infrastructure, metallurgy, and processing and will produce a project execution plan with related capex and opex to advance the project towards the future Feasibility Study and permitting. G Mining Services Inc. (GMS) has been engaged to lead all mining engineering aspects of the PFS. GMS' scope includes the open pit and underground mining engineering and design, mine planning, mining infrastructure, mining opex and capex, and the development of the mining execution strategy. GHD has been appointed for all engineering aspects related to tailings and water management infrastructures. GHD is currently producing the physical environment baseline studies, and they will be able to leverage their understanding of the Novador project site and the permitting requirements into their design and the selection of optimum solutions. David Palmer, President and CEO of Probe Gold, states 'With these key contracts in place, Probe is well positioned to advance the Novador Project into its next phase of development and deliver a robust, high-quality Pre-Feasibility Study. By working with global leaders, Ausenco for process infrastructure, G Mining Services for mining engineering, and GHD for water and tailings management, we have strong confidence in the technical quality and scope of the work ahead. These collaborations support our timeline to deliver the PFS by year-end. We see significant potential to enhance the current study and look forward to drawing on the expertise of our consultants throughout the process. At the same time, we are making steady progress on our permitting strategy. With the successful completion of our recent financing, Probe is fully funded to advance through the next stages of regulatory and permitting work, creating meaningful value for our shareholders.' About Probe's Novador Project Since 2016, Probe Gold has been consolidating its land position in the highly prospective Val d'Or East area in the province of Quebec with a district-scale land package of 835 square kilometres that represents one of the largest land holdings in the Val-d'Or mining camp. The Novador project represents one property block of 202 square kilometres that hosts four past producing mines (Beliveau Mine, Bussiere Mine, Monique Mine and Beaufor Mine) and contains 80% of the Company's gold resources in Val-d'Or East. Novador is situated in a politically stable and low-cost mining environment that hosts numerous active producers and mills. About AusencoAusenco is a global company delivering innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors. Ausenco operates from 21 offices across five continents, delivering services worldwide with a strong track record of successfully completing projects in Quebec. Study work in Quebec includes Agnico Eagle Mines' Wasamac FS and FS Update, O3 Mining's Marban PFS and Probe Gold's Novador PEA and PEA Update. Other notable PFS studies completed in Canada include NexGold's Goliath Project and St. Barbara's 15-Mile Project and the recently awarded Mayfair Gold Fenn-Gib Project. Beyond Quebec, Ausenco has also recently executed major projects such as Alamos Gold's Magino Project in Ontario, St. Barbara's Moose River Project in Nova Scotia and SilverCrest Metals' Las Chispas Project in Mexico. ( About G MiningG Mining Services is an entrepreneurial minded and multidisciplinary company which provides professional services to both underground and open pit mining projects in precious, base or industrial metals. G Mining has the expertise to develop a resource through all stages from exploration and development to construction, commissioning, and full-scale operations. ( About GHDGHD is a global, employee-owned professional services company founded in 1928 and headquartered in Australia. Operating across five continents, GHD brings together more than 1,800 professionals in Canada. We collaborate with mining clients across the globe to deliver integrated solutions that address complex environmental and engineering challenges. In Canada, we are currently supporting multiple mine waste and water management Pre-Feasibility Studies across Nova Scotia, New Brunswick, British Columbia, and Quebec. These engagements span key commodities including gold, base metals, and lithium. By bringing together expertise in engineering, environmental science, architecture, and construction, we help our clients plan and deliver sustainable outcomes that create long-term value. ( About Probe GoldProbe Gold Inc. is a leading Canadian company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is well-funded and dedicated to exploring and developing high-quality gold projects. Notably, it owns 100% of its flagship asset, the multimillion-ounce Novador Gold Project in Québec, as well as an early-stage Detour Gold Québec project. Probe controls a large land package of approximately 1,835-square-kilometres of exploration ground within some of the most prolific gold belts in Québec. The Company's recent Novador updated Preliminary Economic Assessment outlines a robust mining plan with an average annual gold production of 255,000 ounces over a 12.6-year mine life. Val-d'Or properties include gold resources totaling 6,728,600 ounces in the Measured and Indicated category and 3,277,100 ounces in the Inferred category along all trends and deposits. On behalf of Probe Gold Inc., President & Chief Executive OfficerPlease visit our website at or contact: Seema SindwaniVice-President of Investor Relationsinfo@ Forward-Looking Statements Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions, expectations about the use of proceeds from the Offering and final acceptance from the TSX. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the inability of the Company to apply the use of proceeds from the Offering as anticipated, the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects pandemics or other global events on the business of the Company, including but not limited to the effects of the same on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Is it finally a buyer's housing market? What to know about home prices, rate 'lock-in'
The housing market has been on a roller coaster for the past several years, but as the ride slows to a crawl, home prices and some other measures are likely to come back to earth. Here's what to know about some of the most important aspects of the market: Prices surged during the pandemic – up roughly 50% over the last five years, depending on which gauge you use – as mortgage rates hit rock-bottom and Americans reconsidered where they wanted to live. Such big gains have had consequences. Homeowners are sitting on record levels of home equity, but it's increasingly challenging for buyers, especially first-timers, to break into the market. But now prices are falling back to earth, and may continue to do so. The Mortgage Bankers Association expects prices to rise only 1.3% in 2025, while Fannie Mae economists forecast a 4.1% price gain. It's worth noting that many analysts have predicted a similar trend in the past, only to see the sharp imbalance between demand and available supply keep prices elevated. More: The housing market's spring selling season is here. Can buyers catch a break? What's different now is that more homeowners seem to be ready to list their homes for sale. For the past several years, one of the strongest forces acting on the housing market has been the mortgage rate 'lock-in' effect, whereby homeowners with rock-bottom rates were reluctant to move and take on much higher borrowing costs. As of the fourth quarter of 2024, the most recent data available, 72% of all outstanding mortgages had a rate below 6%, and more than half had a rate below 4%. For many people, moving and taking on a new mortgage at the prevailing rates of 6%-7% was hard to contemplate unless it was absolutely necessary. But now, according to anecdotal evidence, some of that reluctance is easing. Redfin real estate agent David Palmer sees it in Seattle, where he works. 'There are so many people that post pandemic are like, OK, rate be damned,' Palmer said. Selma Hepp, chief economist for real estate data firm Cotality, says the thaw is happening much more quickly than most analysts had anticipated. 'Maybe it's the spring homebuying season,' she said. Whatever the reason, there are a lot more options for buyers now. data show that in April, there were 959,251 active listings, more than 30% higher than April last year, and nearly as high as 2019 levels. While some of that was due to homes staying on the market longer, listings were up 9.2% in April compared to March, and up 10.2% in March versus February. That means buyers may finally get a break after several years of frenzied sellers' markets, Palmer told USA TODAY. 'I do think this can be a good opportunity for people looking to buy. First-timers can actually negotiate something,' he said. It's also a positive for people looking to trade up, he said, since a slower-paced market makes it easier to weigh the options. It's too soon to call this a buyer's market – and experts like Hepp caution that the national housing market is, in fact, increasingly local, with some areas experiencing outsize demand while others weaken. Still, data show that more sellers are making price cuts. In April, 18% of home listings had price reductions, the highest April share in data going back to at least 2016. 'This trend suggests that sellers are adjusting their expectations in the face of affordability challenges and weaker buyer demand in some markets,' economists wrote in an April analysis. Palmer, the Seattle agent, says he's accustomed to having conversations with homeowners disappointed that they may have missed the peak of the market a few years ago. But many understand the reality, he said. 'You do have both sides more willing to realize the reality of how things are more expensive,' he said. 'It is a different world now.' Read next: OK, boomer: Why older Americans have the upper hand in the housing market This article originally appeared on USA TODAY: Is it finally a buyer's market? What to know about home prices outlook Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
12-05-2025
- Business
- USA Today
Is it finally a buyer's housing market? What to know about home prices, rate 'lock-in'
Is it finally a buyer's housing market? What to know about home prices, rate 'lock-in' Show Caption Hide Caption Gates foundation to donate $200 billion over 20 years The Gates Foundation said it had three goals to pursue: to lift millions out of poverty, to stop preventable deaths of babies and moms and to help provide safety from deadly infectious diseases. The housing market has been on a roller coaster for the past several years, but as the ride slows to a crawl, home prices and some other measures are likely to come back to earth. Here's what to know about some of the most important aspects of the market. Home price gains will slow considerably Prices surged during the pandemic – up roughly 50% over the last five years, depending on which gauge you use – as mortgage rates hit rock-bottom and Americans reconsidered where they wanted to live. Such big gains have had consequences. Homeowners are sitting on record levels of home equity, but it's increasingly challenging for buyers, especially first-timers, to break into the market. But now prices are falling back to earth, and may continue to do so. The Mortgage Bankers Association expects prices to rise only 1.3% in 2025, while Fannie Mae economists forecast a 4.1% price gain. It's worth noting that many analysts have predicted a similar trend in the past, only to see the sharp imbalance between demand and available supply keep prices elevated. More: The housing market's spring selling season is here. Can buyers catch a break? Is 'mortgage rate lock-in' over? What's different now is that more homeowners seem to be ready to list their homes for sale. For the past several years, one of the strongest forces acting on the housing market has been the mortgage rate 'lock-in' effect, whereby homeowners with rock-bottom rates were reluctant to move and take on much higher borrowing costs. As of the fourth quarter of 2024, the most recent data available, 72% of all outstanding mortgages had a rate below 6%, and more than half had a rate below 4%. For many people, moving and taking on a new mortgage at the prevailing rates of 6-7% was hard to contemplate unless it was absolutely necessary. But now, according to anecdotal evidence, some of that reluctance is easing. Redfin real estate agent David Palmer sees it in Seattle, where he works. 'There are so many people that post pandemic are like, OK, rate be damned,' Palmer said. Selma Hepp, chief economist for real estate data firm Cotality, says the thaw is happening much more quickly than most analysts had anticipated. 'Maybe it's the spring homebuying season,' she said. Whatever the reason, there are a lot more options for buyers now. data show that in April, there were 959,251 active listings, more than 30% higher than April last year, and nearly as high as 2019 levels. While some of that was due to homes staying on the market longer, listings were up 9.2% in April compared to March, and up 10.2% in March versus February. That means buyers may finally get a break after several years of frenzied sellers' markets, Palmer told USA TODAY. 'I do think this can be a good opportunity for people looking to buy. First-timers can actually negotiate something,' he said. It's also a positive for people looking to trade up, he said, since a slower-paced market makes it easier to weigh the options. Is it a buyer's market yet? It's too soon to call this a buyer's market – and experts like Hepp caution that the national housing market is, in fact, increasingly local, with some areas experiencing outsize demand while others weaken. Still, data show that more sellers are making price cuts. In April, 18% of home listings had price reductions, the highest April share in data going back to at least 2016. 'This trend suggests that sellers are adjusting their expectations in the face of affordability challenges and weaker buyer demand in some markets,' economists wrote in an April analysis. Palmer, the Seattle agent, says he's accustomed to having conversations with homeowners disappointed that they may have missed the peak of the market a few years ago. But many understand the reality, he said. 'You do have both sides more willing to realize the reality of how things are more expensive,' he said. 'It is a different world now.' Read next: OK, boomer: Why older Americans have the upper hand in the housing market
Yahoo
10-05-2025
- Business
- Yahoo
Why Krispy Kreme Stock Dove 16% on Friday
More than one analyst cut their price target on the struggling donut maker. This closely followed the release of a disappointing quarterly earnings report. 10 stocks we like better than Krispy Kreme › Following the publication of its first-quarter results on Thursday morning, investors bailed from Krispy Kreme (NASDAQ: DNUT) stock. On Friday, it was apparent that analysts were finding the stock distasteful, too. On the back of two pundit price target cuts, the donut slinger's share price eroded again, posting a Friday decline of more than 16%. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) traded essentially flat on the day. Well before market open that day, Evercore ISI analyst David Palmer got the ball rolling with an updated take on Krispy Kreme. He changed his price target to $3 per share, quite the modification given his previous level was $9. He didn't change his recommendation on the beleaguered comestibles company, though, as he still rates it an in-line (hold, in other words). According to reports, Palmer cited several troubling factors in his latest Krispy Kreme take. The state of the company's deal with fast food king McDonald's is one (Krispy Kreme has paused it for now), while ongoing weakness in the general U.S. retail sector should impact the donut maker -- which draws around 30% of its revenue from these outlets. Citigroup is also reducing its expectations for Krispy Kreme, as analyst Jon Tower lowered his fair value assessment on the stock. In his view, it's worth $3.60 per share these days, down from the former $4.75 target. Like his Evercore ISI peer, however, Tower also maintained a neutral recommendation on the shares. The food industry is tough, as it's susceptible to weakness in consumer sentiment, and is often dependent on trends. I don't see any trend favoring Krispy Kreme, and the McDonald's situation is awfully disheartening. I can't blame any investor for shunning this stock now. Before you buy stock in Krispy Kreme, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Krispy Kreme wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $617,181!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $719,371!* Now, it's worth noting Stock Advisor's total average return is 909% — a market-crushing outperformance compared to 163% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 5, 2025 Citigroup is an advertising partner of Motley Fool Money. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Krispy Kreme Stock Dove 16% on Friday was originally published by The Motley Fool
