Latest news with #N2
Business Insider
2 days ago
- Business
- Business Insider
Nigerians would need to pay more for Netflix despite diminishing purchasing power
The Basic plan now costs ₦4,000, up from ₦3,500, and the Mobile plan is now ₦2,500, up from ₦2,200. This new adjustment comes after previous increases in July 2024, further pinching customers in a country dealing with economic contraction and rising inflation. In July 2024, the Premium plan increased by 40% to ₦7,000 ($4.40), the Standard plan by 37.5% to ₦5,500 ($3.46), the Basic plan by 21% to ₦3,500 ($2.20), and the Mobile plan from ₦1,600 ($1.01) to ₦2,200 ($1.38). Earlier in April of the same year, the streaming service announced a price increase for its Premium Plan, raising it from N4,400 to N5,000. At the same time, the Standard Plan increased from N3,600 to N4,000, while the Basic Plan stayed at N2,900. The Nigerian economy has suffered significantly in recent years, with the country's currency, the naira, depreciating and consumer purchasing power plummeting. With the country's inflation continuing to increase, the cost of basic goods and services has risen, making discretionary spending, such as video streaming, more difficult to justify for many Nigerians. Streaming subscriptions are more expensive in industrialized countries such as the United States and the United Kingdom, but customers often earn much more, making such services reasonably affordable. For example, although Americans pay $15.49 (approximately ₦24,000 at current exchange rates) for Netflix's Standard plan, the average U.S. worker makes more than $60,000 per year. Nigeria's minimum monthly salary remains at ₦70,000, with many earning significantly less in the informal economy. This is more complex when you consider that Nigeria's current minimum wage of ₦70,000 is merely $43, compared to its minimum wage of ₦30,000 as of 2022, which was $70 when exchanged at the average rate of ₦423.7 at the end of the year. This dip highlights Nigeria's declining purchasing power in the face of one of its worst economic periods in the country's history. This disparity in purchasing power parity (PPP) also demonstrates the increasing difficulties of developing global subscription models in poor nations. As streaming platforms pursue profitability, they risk losing customers in price-sensitive areas such as Nigeria. Unless updated price structures or regional considerations are applied, subscription-based services may see decreased popularity in places where economic hardship makes digital entertainment increasingly costly.
The Herald
25-05-2025
- The Herald
Motorcyclist, 26, dies in crash on N2
A 26-year-old motorcyclist was killed on Saturday near the Kariega turn-off on the N2. According to police, he lost control of his white Honda Fire Blade 1,000cc. Police spokesperson Captain Sandra Janse van Rensburg said the accident happened at about 5.15pm. 'The driver of the motorcycle, with a female passenger, was travelling towards Gqeberha. 'According to information gathered on the scene, the driver passed a truck on the N2, at the Kariega and Van Stadens turn-off, and shortly thereafter lost control of the motorcycle and overturned,' Janse van Rensburg said. The driver died on the scene while his passenger sustained serious injuries. She was transported to a hospital for treatment. Janse van Rensburg said the name of the deceased would only be released once he had been officially identified. Police were investigating a case of culpable homicide, she said. The Herald
Yahoo
20-05-2025
- Business
- Yahoo
Formation Metals Announces 20,000 Metre Multi-Phase Drill Program for the Advanced N2 Gold Project
VANCOUVER, BC / / May 20, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCPK:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce plans for executing a 20,000 metre multi-phase drill program at its flagship N2 Gold Project ("N2") in Quebec, an advanced gold project with a global historic resource of ~870,000 ounces: 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. The first 5,000 metres of the drill program is fully funded and is intended to commence this summer. The drill program is designed to focus on discovery drilling at new high-potential targets along the mineralization strikes at the "A", "RJ" and "Central" zones in the northern part of the property in order to discover new auriferous trends and unlock new zones of gold mineralization. The program will also focus on high-priority infilling and expansion targets in these zones to significantly enhance the project resource base through the recent exploration permit (Figure 1). Historical highlights from the top two priority zones include: A Zone: With a historical resource of ~522,900 gold ounces (10.7 Mt @ 1.52 g/t Au), the "A" Zone is a shallow, highly continuous, low-variability historic gold deposit with ~15,000 metres of drilling across 55 drillholes, 84% of which intercepted gold mineralization. The best historical intercept includes up to 1.7 g/t over 35 metres with a metal factor of 93. ~1.65 km of strike has been drilled, with 3.1+ km of strike to be tested as part of the 20,000 metre program. RJ Zone: With a historical resource of ~61,100 gold ounces (243 Kt @ 7.82 g/t Au), the "RJ" Zone is a high-grade target that was expanded upon in the last drill program in 2008 by Agnico-Eagle when gold was approximately ~$800/oz. Historically, 20,875 metres has been drilled over 82 drillholes, with best intercepts of 48 g/t over 0.5 metres and 16.5 g/t over 3.6 metres. ~900 metres of strike has been drilled, with 4.75+ km of strike to be tested as part of the 20,000 metre program. The Company has formally submitted its Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN) following discussions with all necessary parties and anticipates receiving its ATI permit within the next 30 to 40 days, after which it intends on commencing its maiden drill program at N2. Deepak Varshney, CEO of Formation Metals, commented: "We are thrilled to unveil our drill plans for the N2 Project. Given the scale of the property, the compelling geological data, and the Abitibi Greenstone Belt's established history as a hotbed for gold mining, we believe that a program of this scale will deliver our goal of growing N2's historical resource into a near-surface multi-million-ounce deposit." Mr. Varshney continued: "We see the potential for over three million ounces of gold at N2, and our fully funded maiden 5,000-metre drilling program will mark the beginning of Formation's pursuit of that goal. Our maiden program will focus on building on the successes of our predecessors. The drilling discoveries made by Agnico-Eagle and Cypress after the initial historic resource estimate show the expansion potential at N2. With gold at $3,200, over 4 times the price in 2008 when Agnico last drilled the project, we believe that the timing is perfect for N2 and look forward to a very busy upcoming quarter." Figure 1 - PDDH design for 20,000m Drill Program Qualified person The technical content of this news release has been reviewed and approved by Mr. Babak Vakili Azar, an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person. The information provided has not been verified and is being treated as historic non-compliant intercepts. About Formation Metals Inc. Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high-upside and expansion potential. Formation's flagship asset is the N2 Gold Project, an advanced gold project with a global historic resource of ~870,000 ounces (18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4) and six mineralized zones, each open for expansion along strike and at depth including the "A" zone, of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to historical high-grade intercepts as high as 51 g/t Au over 0.8 metres. FORMATION METALS INC. Deepak Varshney, CEO and Director For more information, please call 778-899-1780, email info@ or visit Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Notes and References: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property. The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior data prepared by a previous property owner, and do not conform to current CIM categories. While the Company considers the estimates to be reliable, a qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as a current resource. A 0.5 g/t Au cut-off was used in the preparation of the historical estimates with a minimum 2.5 metre mining width. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. The Company is not aware of any more recent estimates prepared for the N2 Property. Needham, B. (1994), 1993 Diamond Drill Report, Northway Joint Venture, Northway Property; Cypress Canada Inc.; 492 pages. Guy K. (1991), Exploration Summary May 1, 1990 to May 1, 1991 Vezza Joint Venture Northway Property; Total Energold; 227 pages. Forward-looking statements: This news release includes "forward-looking statements" under applicable Canadian securities legislation, including statements respecting: the Company's plans for the Property and the expected timing and scope of the 2025 drilling program at the Property; the Company's view that timing is perfect for a near-surface multi-million-ounce deposit the Property; the Company's anticipated timeline with respect to the Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN); the Company's view that the Property has the potential for over three million ounces of gold and the 5,000-metre drilling program marking the beginning of the Company's pursuit of that goal. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. SOURCE: Formation Metals View the original press release on ACCESS Newswire 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
IOL News
16-05-2025
- IOL News
Is Cape Town traffic turning you into a grump? Unpacking the mental toll
Studies show individuals who spend extended periods in traffic experience elevated levels of stress, anxiety, frustration, irritability, nervous tension, and an overall decline in wellbeing. Image: Freepik I often drive against traffic – lucky me – but as someone who once sat in it daily, I can honestly say that sitting in Cape Town traffic for hours en route to Strand or Somerset West is not child's play. That clutch control has you in a chokehold, although, yes, it builds the glutes and there's only so many times you can listen to 'Party Rock Anthem' on the N2 before it becomes your personal horror soundtrack. Let's be honest. Cape Town's traffic situation is out of hand. According to the 2024 TomTom Traffic Index, the city ranks 85th globally in congestion, with an average congestion level of 36% - a 3% increase from the previous year. During rush hour, the average time to travel 10 km in the metro area is 28 minutes and 20 seconds, with an average speed of 21.2 km/h and a congestion level of 60%. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ In the 2023 TomTom Traffic Index, the city ranks as the most congested in South Africa, with drivers spending an average of 74 hours a year stuck in peak-time traffic. Now imagine being one of the unlucky ones crawling along the N1, N2, or the ever-chaotic R300 during rush hour. Four hours a day? That's practically a part-time job and not the kind that pays. Johannesburg is often close behind Cape Town in congestion levels, but Cape Town has consistently ranked highest in recent years. Cape Town's road infrastructure challenges and urban sprawl contribute heavily to the bottlenecks, particularly on the N1, N2, and R300. Cape Town is now the most congested city in South Africa, with drivers losing an average of 74 hours a year in traffic. Image: Freepik But beyond the wasted time and the rising petrol bill, we're not talking enough about how this grind affects our mental health. Long hours in traffic are linked to increased stress, anxiety, and even depression. You get home absolutely shattered, no energy for your partner, your children, or even yourself. A study from UCT has shown that chronic exposure to heavy traffic can lead to irritability, poor sleep, and emotional detachment. Now add load shedding and potholes to the mix, and you have a recipe for burnout. And let's not forget relationships. How are you meant to be emotionally present when your daily routine includes suppressing road rage and trying not to cry in the car? We spoke to Dr Melané van Zyl, a member of the South African Society of Psychiatrists, to unpack the long-term mental and physical effects of daily commuting, especially for those stuck in traffic for hours on end. 'There are studies that show individuals who spend extended periods in traffic experience elevated levels of stress, anxiety, frustration, irritability, nervous tension, and an overall decline in wellbeing and life satisfaction,' explains Dr van Zyl. She adds that many drivers also feel a deep sense of helplessness and a lack of control, particularly in the mornings when there's pressure to be somewhere on time. Many drivers feel a deep sense of helplessness and a lack of control, particularly in the mornings when there's pressure to be somewhere on time. Image: Freepik 'This anticipation and the anxiety before the commute even begins can wear people down. Over time, it contributes to more serious mental health issues, including mood and anxiety disorders.' And it's not just the mind that suffers. 'Chronic stress from commuting can also lead to physical health problems like high blood pressure, chronic fatigue, and burnout.' 'In my experience, people become more irritable, emotionally reactive, withdrawn, and quick to snap. These shifts in behaviour often spill over into personal relationships,' she says. Miscommunication becomes more common. 'People may misinterpret what their partner or family member is saying because they feel unsupported even when support is actually being offered. The constant pressure and stress of commuting makes it harder to connect emotionally at home.' Van Zyl recommends turning the commute into a time for calm rather than chaos. 'Practise mindfulness techniques such as focused breathing, gratitude exercises, or visualisation while sitting in traffic. Shift your perspective, use the time as an opportunity for solitude and reflection.' 'There are real mental and physical health consequences linked to long commutes, and it's something employers and urban developers should take seriously.' Van Zyl suggests that employers can ease the burden by offering flexible work arrangements, including the option to work remotely. 'Companies should also ensure mental health resources like counselling are available, and that they foster a genuinely supportive culture for employees who face long travel times each day.' Until structural changes come, though, the daily crawl continues. So next time you're bumper-to-bumper on the N2, maybe take a breath, literally, and try turning your commute into a moment of calm. Goodluck.
Yahoo
16-05-2025
- Business
- Yahoo
Formation Metals Advances 2025 Drilling Program with ATI Application for N2 Property
VANCOUVER, BC / / May 16, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO), a North American mineral acquisition and exploration company, is pleased to announce that it has formally submitted its Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN), marking an important step in advancing the Company's planned fully funded 5,000 metre drill program at its flagship N2 Gold Project ("N2") in Quebec, an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4. Prior to filing, Formation Metals has held discussions with all necessary parties, including local municipalities, the Regional Government of Eeyou Istchee James Bay, and the Anishnabe Lac Simon community. These discussions reflect the Company's ongoing commitment to responsible development and meaningful engagement with Indigenous and municipal stakeholders. The Company anticipates receiving its ATI permit within the next 30 to 40 days, after which it intends on commencing its maiden 5,000 metre drill program at N2. "Submitting the ATI application is a key milestone in our 2025 exploration plans and reflects our commitment to advancing the N2 Property responsibly and in close collaboration with local and Indigenous communities," said Deepak Varshney, Chief Executive Officer of Formation. Project Summary Comprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, Formation's flagship N2 Gold Project ("N2") is an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4. There are six primary auriferous mineralized zones in total, each open for expansion along strike and at depth. Compilation and geophysical work by Balmoral Resources Ltd. (now Wallbridge Mining) from 2010 to 2018 generated numerous targets that have not yet been investigated with diamond drilling. Formation's maiden drill program will focus on: the "A" zone, a shallow, highly continuous, low-variability historic gold deposit with numerous intermittent and consecutive auriferous intervals (84% of historical drill holes intercepted Au up to 1.7 g/t over 35 m)2, of which only ~35% of strike has been drilled (>3.1 km open); and the "RJ" zone, host to high-grade intercepts from historical drill holes as high as 51 g/t Au over 0.8 metres2, which was expanded by Agnico Eagle Mines in 2008 in the most recent drilling at the Property. Figure 1 - Property overview summarizing historical work completed at each of the six mineralized zones and their respective historical resource. Qualified person The technical content of this news release has been reviewed and approved by Mr. Babak Vakili Azar, an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person. The information provided has not been verified and is being treated as historic non-compliant intercepts. About Formation Metals Inc. Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high-upside and expansion potential. Formation's flagship asset is the N2 Gold Project, an advanced gold project with a global historic resource of 877,000 ounces (18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4) and six mineralized zones, each open for expansion along strike and at depth including the "A" zone, of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to historical high-grade intercepts as high as 51 gpt Au over 0.8 metres. FORMATION METALS INC. Deepak Varshney, CEO and Director For more information, please call 778-899-1780, email info@ or visit Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Notes and References: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property. The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior data prepared by a previous property owner, and do not conform to current CIM categories. While the Company considers the estimates to be reliable, a qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as a current resource. A 0.5 g/t Au cut-off was used in the preparation of the historical estimates with a minimum 2.5 metre mining width. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. The Company is not aware of any more recent estimates prepared for the N2 Property. Needham, B. (1994), 1993 Diamond Drill Report, Northway Joint Venture, Northway Property; Cypress Canada Inc.; 492 pages Guy K. (1991), Exploration Summary May 1, 1990 to May 1, 1991 Vezza Joint Venture Northway Property; Total Energold; 227 pages. Forward-looking statements: This news release includes "forward-looking statements" under applicable Canadian securities legislation, including statements respecting: the Company's uplisting to the OTCQB and the expected benefits and timing of same; the Company's plans for the Property and the expected timing and scope of the 2025 drilling program at the Property; the Company's view that timing is perfect for a near-surface multi-million-ounce deposit the Property; the Company's view that the Property has the potential for over three million ounces of gold and the 5,000-metre drilling program marking the beginning of the Company's pursuit of that goal. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. SOURCE: Formation Resources Inc. View the original press release on ACCESS Newswire 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
