Latest news with #PlatinumGroupMetals
BBC News
19-05-2025
- Business
- BBC News
Edvars Stancik fled over £4m illegal catalytic converter trading
A businessman fled to Lithuania after making £4.3m from illegally trading in catalytic converters and is still on the run, a court Stancik, who was director of Platinum Group Metals Recycling Ltd which was based in Spalding, Lincolnshire, was found guilty of multiple charges in his absence after he failed to attend his trial at Lincoln Crown Court in September traded catalytic converters on a large scale between December 2019 and September 2021 through the arrest warrant was issued for Stancik and his case was adjourned for investigators to pursue his financial assets but a proceeds of crime hearing on Friday was told he had still not been arrested. Recorder John Hardy KC told the court Stancik, formerly of St Thomas Court, Long Sutton, had "decamped from the country after illegally selling catalytic converters without the required authorisation".The court heard investigators found a likely address for the 31-year-old in Lithuania but he failed to respond. However, extradition proceedings had not begun and the Environment Agency was trying to recover the costs of their inquiry via assets seized from his company. Recorder Hardy ruled Stancik reaped £4.3m from his criminal activity with his company benefiting from a similar court heard assets of nearly £500,000 were available from the company made up of cash in the firm's bank account and seized catalytic only asset is £30,934 from equity in a house he sold before his trial, the court was judge ordered those amounts to be confiscated and ruled more than £100,000 should be paid to the agency in compensation to cover the costs of their said the businessman was likely to face a custodial sentence when arrested and future applications could be made to seize more assets if they were to the agency, Stancik stored the car parts at his home address and at containers in Lime Walk, Long Sutton. The devices were "stored in an irresponsible manner giving rise to an unacceptable risk to human health".The agency's investigation found Stancik and his company had been buying large quantities of catalytic converters and sold at least 71 tonnes of them for recycling. Many of them were found "damaged, exposing their dangerous innards" following a search of his pleaded not guilty to four environmental offences including two counts of causing a company to operate a regulated facility without the necessary authorisation and two of causing a company to commit an Group Metals Recycling Ltd denied charges of operating two waste sites in Long Sutton without the required permits and two counts of storing waste at the same premises without a permit and in a manner likely to cause harm to human health. Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Globe and Mail
12-02-2025
- Business
- Globe and Mail
Gold Nears $3,000 Milestone: Undervalued Mining Stocks Set to Soar NGD, PNPN.V, ASM, PLG, YGT.V Amid Precious Metals Boom
As gold prices approach $3,000 per ounce, investors are eyeing undervalued mining stocks poised for major gains. Silver, copper, nickel, and platinum are also experiencing a bullish breakout, driven by geopolitical tensions, central bank gold reserves, and rising industrial demand. Why Gold is Surging in 2025 Geopolitical Uncertainty & Inflation Hedge The U.S. imposed a 25% tariff on steel and aluminum imports, sparking concerns about trade disruptions and inflation. Gold remains the top safe-haven asset, attracting major institutional investment. Central Bank Gold Buying Hits Record Highs China, Russia, and emerging markets have aggressively increased gold reserves as part of a global shift away from the U.S. dollar. Physical Gold Demand Skyrockets The Commodity Exchange (COMEX) reported a record-breaking 52,577 gold contract deliveries, signaling a shift from paper trading to physical gold ownership. Undervalued Mining Companies Benefiting from the Gold & Precious Metals Boom New Gold Inc. (NYSE: NGD) (TSX: NGD) With gold prices surging, New Gold Inc. is one of the most undervalued gold stocks. Its Rainy River and New Afton mines in Canada are ramping up production, making NGD stock a key player in the gold bull market. Gold Terra Resource Corp. (TSX.V: YGT) (OTCQB: YGTFF) Gold Terra is unlocking high-grade gold deposits in Canada's Northwest Territories, positioning itself as an emerging leader among junior gold miners. With the Yellowknife City Gold Project, the company is attracting major investors looking for high-growth opportunities. Silver, Nickel & Copper—The Next Big Investment Opportunities Avino Silver & Gold Mines (AMEX: ASM) (TSX: ASM) Avino is a hidden gem among silver mining stocks, benefiting from both investment demand and industrial silver use. With increasing silver prices and strong production growth in Mexico, ASM stock is one to watch for silver bulls. Power Nickel Inc. (TSX.V: PNPN) (OTCQB: PNPNF) has completed its strategic spin-out, forming two focused mining entities. Effective February 3, 2025, shareholders received one new Power Nickel share and 0.05 Chilean Metals shares per share held. Power Nickel will focus on its high-grade Nisk Project in Quebec. Chilean Metals will develop the Golden Ivan Property in British Columbia and its Chilean assets. CEO Terry Lynch highlighted the value creation for shareholders, with Power Nickel advancing exploration and Chilean Metals preparing for drilling. While Power Nickel remains publicly traded, Chilean Metals will operate as a reporting issuer but won't be exchange-listed. As EV-driven nickel demand soars, Power Nickel's high-grade assets position it as an undervalued stock in the battery metals sector. Platinum & Palladium—A New Era for Industrial Metals Platinum Group Metals (AMEX: PLG) (TSX: PTM) Platinum and palladium prices are surging as stricter emissions regulations drive demand for catalytic converters. Platinum Group Metals is leading exploration efforts, positioning itself as a major player in the global platinum group metals (PGM) supply chain. Final Thoughts As gold nears the historic $3,000 mark and other metals like silver, nickel, and platinum rally, these undervalued mining stocks could be the best investment opportunities in 2025. With strong market trends, increasing industrial demand, and record-breaking central bank purchases, now is the time to watch New Gold (NGD), Avino Silver & Gold Mines (ASM), Power Nickel (PNPN.V), Platinum Group Metals (PLG) and Gold Terra Resource Corp. (YGT.V) for their breakout potential. Investors looking for high-growth mining stocks under $10 should keep a close eye on these companies as the next big winners in the precious metals bull market. Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor with regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, and assumptions about future events or performance are not statements of historical fact and may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. TheStreetReports (TSR) is responsible for the production and distribution of this content."TSR" is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. "TSR" authors, contributors, or its agents, may be compensated for preparing research, video graphics, podcasts and editorial content. "TSR" has not been compensated to produce content related to "Any Companies" appearing herein. As part of that content, readers, subscribers, and everyone viewing this content are expected to read the full disclaimer in our website.
