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In the truncated week due to one trading holiday, the markets extended their gains and closed the week on a positive note. While remaining largely within a defined range, the Nifty continued consolidating above its 200-DMA while not adopting any sustainable directional bias. While the Index continued defending its key support levels, it oscillated in the range of 535.10 points. Volatility continued moving higher; the India Vix surged by 6.41% to 18.26 on a weekly basis. While staying positive, the headline index closed with a net weekly gain of 307.35 points (+1.28%).

From a technical standpoint, the Nifty has kept its underlying bias intact; it is currently consolidating above the 200-DMA positioned at 24050. The 50-week MA is placed at 23962. This makes the 24950-24050 a strong 200-point support zone for the Nifty for the coming weeks and the foreseeable short term. So long as the Index keeps it above this 200-point support zone, it will just consolidate and not show any major drawdowns. However, any violation of 24900 will increase the possibility of some corrective retracement. Watching Nifty’s behavior vis-à-vis the zone of 23950-24050 would be crucial over the coming days.

The geopolitical tensions between India and Pakistan remain ingrained in the market behavior; the rise in Vix shows increased hedging activity by the market participants. Monday is likely to see a stable start to the day; the levels of 24550 and 24780 are likely to act as resistance levels. The supports come in at 24050 and 23900. The trading range is expected to stay wider than usual.

The weekly RSI stands at 57.92. While the RSI has formed a fresh 14-period high, it remains neutral and does not show any divergence against the price. The weekly MACD is bullish and trades above its signal line.

The pattern analysis shows that on the daily chart, the Nifty crossed above the 200-DMA a few days ago; now, it is consolidating just above this important level. It has penetrated the 50-week MA placed at 23962, and this level is now expected to act as support in the event of any corrective retracement. Importantly, the Nifty has resisted the rising trendline pattern resistance near 24600. This trendline begins at 21130 levels and joins the subsequent rising bottoms.

The coming week will require a more cautious approach as the markets not only deal with key resistance levels but also with geopolitical tensions that remain embedded in the backdrop. The investors will need to move away from the stocks that have risen over the past weeks and move to those sectors and stocks that are readying for a fresh move. While focusing more on low-beta stocks, the leverage, too, needs to be curtailed. The Index has risen over 2500 points over the past three weeks, and if it consolidates a bit, it should not surprise the market participants. A highly cautious and stock-specific approach is advised for the coming week.


Sector Analysis for the coming week

In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), which represents over 95% of the free-float market cap of all the listed stocks.

Relative Rotation Graphs (RRG) show the Nifty FMCG index has rolled inside the leading quadrant. The PSU Bank, Infrastructure, and Consumption Index are also inside the leading quadrant. The Metal, Commodities, Financial Services, and Nifty Bank Index are also inside this quadrant, but they are giving up on their relative momentum. However, these groups may continue to outperform the broader markets relatively.

The Services Sector Index has rolled inside the weakening quadrant.

While the Nifty IT index continues to languish inside the lagging quadrant, the Midcap 100, Auto, Realty, and Pharma Indices are seen improving their relative momentum while being inside the lagging quadrant.

The Nifty Media, PSE, and Energy Indices are inside the improving quadrant; they are expected to better their relative performance against the broader markets.


Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.  


Milan Vaishnav, CMT, MSTA

Consulting Technical Analyst

www.EquityResearch.asia | www.ChartWizard.ae


Ontario has introduced legislation aimed at tightening control over the province’s mining and energy sectors by limiting foreign involvement, fast-tracking resource development and scaling back species-at-risk protections.

The Protect Ontario by Unleashing Our Economy Act, 2025, also known as Bill 5, was announced at the Toronto Stock Exchange on April 17 by Premier Doug Ford and Energy and Mines Minister Stephen Lecce.

According to the government, the new bill is designed to “safeguard Ontario’s critical minerals, secure the province’s energy infrastructure, and reduce regulatory bottlenecks that hamper development.”

“With President Trump taking direct aim at our economy, it cannot be business as usual,” Ford declared during the announcement, referring to recent US moves to prioritize domestic supply chains for critical resources.

The proposed law would grant the Ontario government sweeping new powers over the mining sector.

These would include the ability to suspend or revoke mining claims, deny transfers or leases and limit access to Ontario’s Mining Lands Administration System — particularly for entities linked to “hostile foreign regimes.”

It would also allow the government to restrict foreign participation in the province’s energy sector.

“In today’s changing world, we need to be clear-eyed about the risks from those who want to exploit our resource bounty,” Lecce said in an April 25 press release that covers the legislation. “That is why it is essential that Ontario is protecting our critical minerals and energy sector from getting into the wrong hands.”

Kevin Holland, member of provincial parliament for Thunder Bay-Atikokan, added that the measures are especially significant for Northern Ontario, where the economy is deeply tied to resource extraction.

“Ontario is taking important actions to protect our mining and energy assets during this volatile time,” he said.

Rolling back environmental protections

According to the provincial government, the legislation is partially a response to concerns raised in a 2021 national security report in which Canada’s natural resources are identified as a strategic vulnerability.

However, the proposed legislation has sparked sharp criticism from environmental advocates who warn that Bill 5 undermines Ontario’s Endangered Species Act. It would be replaced with a much narrower Species Conservation Act that redefines what constitutes a species’ habitat.

Under current law, a habitat includes all areas a species needs to live, migrate and reproduce. The new definition reduces this to “a dwelling place, such as a den, nest or other similar place,” plus the immediate surrounding area.

Critics argue that this change all but guarantees habitat loss for vulnerable species.

“The definition of habitat is so narrow that what it means is less habitat than the species has now,” Laura Bowman, a lawyer with the environmental law charity Ecojustice, told CBC. “And less habitat than the species has now, for a species already in decline, virtually ensures extirpation or extinction,” she added

The bill would also eliminate the requirement for recovery strategies once a species is declared at risk — a key mechanism under the current law that sets out steps to restore populations to sustainable levels.

The legislation is part of Ontario’s push to accelerate development in the Ring of Fire, a mineral-rich region in the province’s far north. The Ford government has long touted the area’s potential to supply key inputs like nickel, lithium and chromite for electric vehicles and clean technologies. According to the government, Bill 5 will “cut red tape and streamline approvals” to jumpstart projects that are currently mired in lengthy environmental and consultation processes — often involving Indigenous communities whose territories overlap with planned developments.

Despite the growing need for secure critical minerals supply chains, the decision to pair national security rhetoric with the rollback of environmental protections is likely to ignite political and legal challenges in the months ahead.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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The world’s oceans are increasingly becoming an important new frontier in the geopolitical and economic race for critical minerals, with countries fast-tracking plans for deep-sea mining.

Meanwhile, the global body tasked with regulating such activities is struggling to keep pace.

As sovereign states ramp up efforts to access seabed resources crucial for clean energy and defense technologies, the International Seabed Authority (ISA) finds itself sidelined — raising alarms among environmentalists and nations alike.

Stoking these tensions, US President Donald Trump signed an executive order earlier this month with the aim of expediting deep-sea mineral extraction in both national and international waters.

The directive, which calls for faster permitting and exploration, bypasses multilateral negotiations at the ISA and uses a 1980 domestic statute — the Deep Seabed Hard Mineral Resources Act — to justify the unilateral action.

The order “establishes the US as a global leader in seabed mineral exploration and development both within and beyond national jurisdiction,’ signaling Washington’s intent to secure independence from Chinese mineral supply chains.

But the move has drawn fierce criticism from multiple fronts.

“The US authorization … violates international law and harms the overall interests of the international community,” said Chinese foreign ministry spokesman Guo Jiakun. Such sentiments echo concerns that unilateral actions could unravel decades of work toward collective seabed governance under the United Nations (UN) Convention on the Law of the Sea.

At the heart of the dispute lies the ISA, the UN agency responsible for regulating mining in international waters.

Though it has issued over 30 exploratory permits, it has yet to finalize rules for commercial extraction. That regulatory vacuum has encouraged countries to approach the issue alone and in accordance with their own different agendas.

Norway reverses course on deep-sea mining

In January 2024, Norway became the first country to approve commercial-scale deep-sea mining within its own exclusive economic zone, greenlighting exploration across 280,000 square kilometers — an area larger than the UK.

The move, passed through parliament despite strong domestic and international opposition, is part of the country’s bid to secure metals like cobalt, scandium and lithium for green technologies.

“We will have a relatively long period of exploration and mapping activity to close the knowledge gap on the environmental impact,” Walter Sognnes, co-founder of Loke Marine Minerals, a Norwegian company focused on deep-sea exploration, told the BBC in an interview at the time the news was announced

However, environmentalists argued that the plan undermined Norway’s own standards.

“The Norwegian government always highlighted that they want to implement the highest environmental standards,” said Martin Webeler of the Environmental Justice Foundation.

“That is hypocritical whilst you are throwing away all the scientific advice.”

The Norway Institute of Marine Research also criticized the government’s decision, saying the existing environmental impact assessment was based on limited data and not representative of the vast areas opened for mining. It called for an additional five to 10 years of research before proceeding.

Against that backdrop, Norway reversed course, suspending its deep-sea mining plans at the end of 2024 following mounting political and environmental pressure.

The first licensing round, originally set for 2025, was blocked after the Socialist Left Party threatened to withhold support for the government’s budget unless the initiative was halted.

India eyes Clarion-Clipperton zone, Pacific Islands at crossroads

For its part, India has announced plans to ramp up its presence in the Pacific’s Clarion-Clipperton zone, one of the world’s most mineral-rich deep-sea regions. Although the ISA has already granted India two exploration contracts, the country has opted to hold off on operations as regulations remain in flux.

M. Ravichandran, secretary of the country’s Ministry of Earth Sciences, said the country is seeking to apply to the UN-backed ISA next year to focus on exploring the zone.

Meanwhile, the resource-rich Pacific Islands are emerging as battlegrounds in this high-stakes race.

Kiribati, a small island nation with jurisdiction over 75,000 square kilometers of prospective seabed, is reportedly in talks with China after a previous deal with Canada’s The Metals Company (NASDAQ:TMC) collapsed late last year.

In a statement dated March 17, the Kiribati government called discussions with Chinese ambassador Zhou Limin “an exciting opportunity” to explore its deep-sea resources.

But critics say such moves by smaller nations are often driven by economic desperation and can lead to exploitative outcomes. This tension is familiar in Papua New Guinea, where the failure of the Nautilus Minerals project left environmental damage and financial losses in its wake.

Some Pacific nations are now calling for a global moratorium on seabed mining, citing concerns about the unknown risks to ecosystems and the climate.

Patchwork governance, fragmented oversight

The race toward seabed mining is exposing a critical flaw in global governance: fragmentation. The ISA, which was supposed to provide a unified framework, is losing relevance as more countries chart independent courses.

“The harm caused by deep-sea mining isn’t restricted to the ocean floor: it will impact the entire water column, top to bottom,” Jeff Watters, vice president for external affairs at the Ocean Conservancy, told the Guardian.

A study by the Natural History Museum and the UK’s National Oceanography Center analyzing a 1970s test site concludes that some sediment dwellers were able to recover, but larger animals dependent on polymetallic nodules did not return — likely because the nodules, which take millions of years to form, were destroyed.

Despite these warnings, the Metals Company continues to push forward. It has said it plans to mine by the year’s end, pending US government approval, as CEO Gerard Barron remains unfazed by the backlash.

“Here there’s zero flora,” Barron told the BBC in a January 2024 interview. “If we measure the amount of fauna… in the form of biomass, there is around 10g per square metre. That compares with more than 30kg of biomass where the world is pushing more nickel extraction, which is our equatorial rainforests.”

Beyond environmental concerns, the deep-sea mining surge is reshaping geopolitical dynamics. China, which dominates global production and processing of rare earths, has long used its position as leverage in trade disputes. In response to US tariffs, Beijing recently introduced new export controls on rare earths — further intensifying the mineral arms race.

Trump’s executive order makes clear that seabed mining is now viewed as a national security imperative.

“It’s not just drill, baby, drill. It’s mine, baby, mine,” said Secretary of the Interior Doug Burgum at a recent conference. “We will literally be at the mercy of others that are controlling our supply chains,” he warned.

But this approach risks setting a dangerous precedent. If powerful nations begin issuing their own licenses outside multilateral systems, others are likely to follow suit. The result could be a patchwork of conflicting claims and reduced protections, particularly for vulnerable maritime nations.

With the ISA still developing a mining code and more countries rejecting its pace, the world faces a dilemma: how to balance the urgent demand for critical minerals with the equally pressing need to preserve fragile marine ecosystems.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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John Rubino, who writes a newsletter on Substack, explains the factors behind gold’s ‘epic run,’ pointing to underlying elements like Basel III and BRICS demand, as well as current events.

He believes gold has the wind at its back, although silver might be the better buy right now.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) (‘Finlay’ or the ‘Company’) is pleased to announce the receipt of TSX Venture Exchange (the ‘ Exchange ‘) conditional acceptance for its previously announced earn-in agreement (the ‘ PIL Earn-In Agreement ‘) with Freeport-McMoRan Mineral Properties Canada Inc. (‘ Freeport ‘), a wholly owned subsidiary of Freeport-McMoRan Inc. (NYSE:FCX) relating to its PIL property (‘ PIL Property ‘). The PIL Property consists of 50 mineral claims in the Toodoggone District of northern British Columbia . The Company also entered into an earn-in agreement (the ‘ ATTY Earn-In Agreement ‘) with Freeport relating to its ATTY property (the ‘ ATTY Property ‘, together with the PIL Property, the ‘ Properties ‘). The ATTY Earn-In Agreement is not subject to Exchange approval, as it qualifies as an ‘Exempt Transaction’ under Exchange Policy 5.3 Acquisitions and Dispositions of Non-Cash Assets . The PIL and ATTY earn-in agreements are arm’s length transactions, and no finder’s fees are payable in connection with either earn-in agreement.

Pursuant to the PIL Earn-In Agreement, Freeport may acquire an 80% interest in the PIL Property by making aggregate cash payments of CAD $3,000,000 to Finlay and completing an aggregate of $25,000,000 of exploration expenditures on the PIL Property over a 6-year period.  Pursuant to the ATTY Earn-In Agreement, Freeport may acquire an 80% interest in the ATTY Property by making aggregate cash payments of CAD $1,100,000 to Finlay and completing an aggregate of $10,000,000 of exploration expenditures on the ATTY Property over a 6-year period.  The earn-in in respect of each of the Properties may be exercised separately, and the full details of the exercise requirements for each earn-in are set out in the table below.  Following the completion of the earn-in on either of the Properties, Freeport and Finlay will respectively hold interests of 80% and 20% in such Property, and a joint venture company will be formed for further exploration and development.  In the event that a party does not fund their portion of further joint venture programs, their interests in the joint venture company will dilute. Any party that dilutes to below a 10% interest in the joint venture company will exchange its joint venture company interest for a net smelter returns (‘ NSR ‘) royalty of 1% on the applicable Property, which is subject to a 0.5% buyback for USD $2,000,000 .

Table 1 . Staged cash and expenditure terms for the PIL and ATTY earn-in agreements.

PIL

ATTY

Cash

Work

Cash

Work

Year 1

$ 550,000

$    750,000

$    150,000

$      500,000

Year 2

$ 350,000

$ 1,000,000

$    100,000

$   1,000,000

Year 3

$ 375,000

$ 3,000,000

$    125,000

$   1,500,000

Year 4

$ 400,000

$ 5,250,000

$    150,000

$   2,000,000

Year 5

$ 500,000

$ 5,500,000

$    275,000

$   2,000,000

Year 6

$ 825,000

$ 9,500,000

$    300,000

$   3,000,000

Total (CAD)

$3,000,000

$25,000,000

$1,100,000

$10,000,000

These earn-in requirements can be accelerated by Freeport at its discretion. During the earn-in period, Finlay will be the operator on the Properties, collecting an operator’s fee, under the direction of a joint technical committee that will approve work programs and budgets during the earn-in period.

The PIL & ATTY Properties are each subject to a 3.0% NSR royalty held by Electrum Resource Corporation (‘ Electrum ‘), a private company, the outstanding voting shares of which are held by Company directors John A. Barakso and Ilona B. Lindsay . The Company has a current right to buy back ½ of the royalty (1.5%) on each property for an aggregate payment of $2,000,000 and $1,500,000 respectively.  Finlay and Electrum have entered into amended and restated royalty agreements (the ‘ A&R Royalty Agreements ‘) relating to each of the PIL and ATTY Properties, pursuant to which upon and subject to the exercise of the earn-in in respect of each Property by Freeport , the buy-back right will be amended to provide for a 2.0% royalty buy-back for each Property, in consideration for an increased buy-back payment that will be sole-funded by Freeport without joint venture dilution to Finlay, and will be divided equally between Finlay and Electrum. For the PIL Property, the increased buy-back will be:

    For the ATTY Property, the increased buy-back will be:

      1. USD$5,000,000 if the buy-back is exercised on or before the date that is 60 days following the report of an initial Pre-Feasibility Study on the ATTY Property;
      2. USD$7,500,000 if the buy-back is exercised on or before the date that is 60 days following the report date of an initial Feasibility Study on the ATTY Property; or
      3. USD$10,000,0000 if the buy-back is exercised on or after commercial production.

    Under the A&R Royalty Agreements, Finlay and Electrum have also agreed, subject to the exercise of the applicable Freeport earn-in, to extinguish share issuance obligations of 1,000,000 common shares and 500,000 common shares owing to Electrum prior to or on a production decision on the PIL and ATTY Properties respectively.

    Freeport-McMoRan (FCX) is a leading international metals company focused on copper, with major operations in the Americas and Indonesia and significant reserves of copper, gold, and molybdenum.

    About the PIL Property:

    The 100% owned PIL Property covers 13,374 hectares of highly prospective ground in the prolific Toodoggone mining district of north-central British Columbia. The core PIL claims were staked over 30 years ago by the founders of the Company. Over the decades, numerous Cu-Au-Mo porphyry and porphyry-related Au-Ag epithermal targets have been identified at PIL. The identified targets are central to a broader 70 km porphyry corridor trend, which includes: Centerra Gold’s past producing Kemess South Cu-Au porphyry mine and Kemess Underground Cu-Au-Ag porphyry resource, Thesis Gold’s Lawyers-Ranch Au-Ag epithermal resource, and the newly discovered Amarc Resources and Freeport AuRORA Cu-Au-Ag porphyry.  Readers are cautioned that mineralization on the foregoing regional properties is not necessarily indicative of mineralization on the PIL Property. The PIL Property is road accessible and permitted for the 2025 season.

    About the ATTY Property:

    The 100% owned ATTY Property covers 3,875 hectares in the prolific Toodoggone mining district of north-central British Columbia. The ATTY Property adjoins Centerra Gold’s Kemess Project and Amarc Resources and Freeport’s JOY property. Several epithermal-style Ag ± Au ± Cu ± base-metal veins are exposed on the ATTY Property, and geochemical and geophysical work have outlined at least two promising porphyry targets, including the drill-ready KEM Target. The ATTY Property is road accessible and permitted for the 2025 season.

    Qualified Person:

    Wade Barnes , P. Geo. and Vice President, Exploration for Finlay and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

    About finlay minerals ltd.

    Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100% owned properties in northern British Columbia : the PIL and ATTY properties in the Toodoggone, the Silver Hope Cu-Ag Property (21,322 ha) and the SAY Cu-Ag Property (26,202 ha) and JJB Property (15,423 ha) in the Bear Lake Corridor of BC.

    Finlay Minerals is advancing the ATTY, PIL, JJB, SAY and Silver Hope Properties that 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 www.finlayminerals.com

    On behalf of the Board of Directors,

    Robert F. Brown
    President, CEO & 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 exploration plans for the Properties and the potential exercise of Freeport’s option to acquire an interest in the Properties. 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 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.

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/02/c5071.html

    News Provided by Canada Newswire via QuoteMedia

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    The Liberal Party of Canada and Prime Minister Mark Carney will form a minority government following their victory in Canada’s national election on Monday (April 28). The Liberals won 168 seats, just shy of the 172 required to form a majority, meaning the Liberal government will have to work with the Bloc Québécois or the NDP, which won 23 and 7 seats, respectively.

    The Conservative Party of Canada, led by Pierre Poilievre, won 144 seats. While the CPC was originally expected to win the election, the trade war and sovereignty threats from new US President Donald Trump turned the tide in favor of Carney, who took a firmer stance against Trump. Other election issues included the high cost of living, housing, immigration and crime.

    Both parties came into the election with visions for Canada’s economy, which included energy and infrastructure corridors, a commitment to energy production and a focus on resource nationalism.

    Statistics Canada released February’s gross domestic product by industry figures on Wednesday (April 30). According to the data, the resource sector’s January gains were largely erased by contractions in February. Oil and gas extraction slipped by 2.8 percent, while mining and quarrying contracted by 2.6 percent during the month. Metal ore mining posted its second month of declines, falling 2.5 percent. On the other hand, non-metallic mineral mining climbed by 2.7 percent, including a 3.5 percent rise in potash mining.

    South of the Border, The United States Bureau of Labor Statistics released its April employment situation summary on Friday (May 2). In the report, the agency said that 177,000 new nonfarm jobs were added to the economy in April, which exceeded analysts’ expectations of 133,000 jobs.

    The biggest gains came in the healthcare sector, which added 51,000 workers, followed by transportation and warehousing, where 29,000 people found new employment.

    Overall, the unemployment rate remained steady at 4.2 percent, and the participation rate was unchanged at 62.6 percent.

    However, there were some caveats, most notably, downward revisions of 15,000 fewer jobs in February and 43,000 jobs in March than initially reported.. Long-term unemployment also ticked up by 179,000 to 1.67 million in April, the highest since March 2022.

    While the number showed strength in the job market, many analysts expect these gains to be temporary, as the effects of US tariffs have yet to be felt in the economy.

    The US government also announced on Wednesday that it signed a critical minerals deal with Ukraine. Under the terms of the agreement, the US will provide funding for Ukraine’s reconstruction in exchange for preferential access to the country’s natural resources, including rare earth minerals, which are critical to tech and military development and supply chains.

    Additionally, the Trump administration announced it added 10 new projects to be fast-tracked to its federal permitting dashboard on Friday. The projects include the NorthMet copper and nickel project in Minnesota, which is a 50/50 joint venture between Teck (TSX:TECK.A,TECK.B,NYSE:TECK) and Glencore (LSE:GLEN,OTC Pink:GLCNF), as well as Sibanye Stillwater’s (NYSE:SBSW) Stillwater platinum and palladium project in Montana.

    Markets and commodities react

    In Canada, major indexes posted gains by the week’s close. The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1.32 percent during the week to close at 25,031.51 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up 0.01 percent to 656.40 and the CSE Composite Index (CSE:CSECOMP) climbed 2.52 percent to 122.75.

    US equity markets also posted gains by close on Friday, with the S&P 500 (INDEXSP:INX) increasing 2.85 percent to close at 5,686.66, the Nasdaq-100 (INDEXNASDAQ:NDX) gaining 3.45 percent to 20,102.61 and the Dow Jones Industrial Average (INDEXDJX:.DJI) rising 2.8 percent to 41,317.44.

    The gold price fell from recent highs, closing out Friday at US$3,233.98, down 2.56 percent over the week. The silver price was also down, shedding 3.21 percent during the period to US$32.03.

    In base metals, the COMEX copper price fell 4.29 percent over the week to US$4.69 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was down 3.17 percent to close at 520.19.

    Top Canadian mining stocks this week

    So how did mining stocks perform against this backdrop?

    Take a look at this week’s five best-performing Canadian mining stocks below.

    Stock data for this article was retrieved at 3:30 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

    1. Lion Rock Resources (TSXV:ROAR)

    Weekly gain: 60 percent
    Market cap: C$20.51 million
    Share price: C$0.32

    Lion Rock Resources is a gold and critical mineral exploration company focused on advancing its Volney gold-lithium-tin project in South Dakota, United States.

    The property is situated on 142 hectares of private land with surface and mineral rights in place. The site hosts historic gold and tin mining operations dating back to the 1920s. Additionally, the site contains the Giant Volney pegmatite body, from which 15 grab samples graded an average of 4.4 percent lithium oxide, with the highest grading 5.4 percent.

    The most recent news from the project came on Thursday (May 1) when Lion Rock announced that it had started its 2025 exploration program, including a high-resolution magnetic survey, mapping and sampling. The company said that the program will target high-grade lithium, gold and tin, and results will be used to refine drill targets and expand known mineralized zones.

    The company also released its year-end 2024 financial report on Tuesday (April 29).

    2. Foremost Clean Energy (CSE:FAT)

    Weekly gain: 42.86 percent
    Market cap: C$14.27 million
    Share price: C$1.30

    Foremost Clean Energy is a uranium exploration company working to advance projects in the Athabasca Basin in Northern Saskatchewan, Canada.

    In 2025, its primary focus has been its Hatchet Lake property, part of its Eastern Athabasca projects. The site consists of nine mineral claims within two blocks covering an area of 10,2012 hectares and has seen exploration dating back to the 1960s.

    Foremost announced in October 2024 that it had completed the first phase of an option agreement with Denison Mines (TSX:DML,NYSEAMERICAN:DNN) to acquire a 20 percent stake in 10 uranium properties, including Hatchet Lake, in exchange for 1.37 million common shares.

    Under the terms of the agreement, Foremost can earn up to a 70 percent stake in the properties in exchange for meeting certain milestones within 36 months.

    This Thursday, Foremost announced a new uranium discovery at Hatchet Lake from initial results of the company’s ongoing inaugural drill program.

    In the announcement, the company said the discovery included multiple intervals of mineralization, highlighting one grading 0.22 percent equivalent U3O8 over 0.9 meters, including an intersection of 0.5 percent over 0.1 meters.

    3. Baru Gold (TSXV:BARU)

    Weekly gain: 42.86 percent
    Market cap: C$13.53 million
    Share price: C$0.05

    Baru Gold is a development company working to advance its Sangihe gold project in Indonesia.

    The company holds a 70 percent stake in the 42,000 hectare project, with the remaining 30 percent interest held by three Indonesia-based companies.

    Baru Gold is progressing towards approval of its production operations plan, which was redesigned due to the significant macroeconomic shift and increase in the gold price since its last mineral resource estimate in May 2017.

    On February 14, the company published a technical report with an updated mineral resource estimate. The mineral resource estimate demonstrated an indicated resource of 114,000 ounces of gold and 1.93 million ounces of silver from 3.15 million metric tons of ore with grades of 1.12 grams per metric ton (g/t) gold and 19.4 g/t silver. The project also hosts an inferred resource of 91,000 ounces of gold and 1.08 million ounces of silver from 2.3 million metric tons of ore with grades of 1.22 g/t gold and 14.5 g/t silver.

    The update marks a significant step towards government approval for production operations status, with the only remaining requirement being the payment of taxes.

    The most recent news came on April 2 when the company announced the closing of the first tranche of a private placement for C$336,321.88. Funding raised through the placement will be used in part for payment of land use taxes on the Sangihe property.

    4. Taranis Resources (TSXV:TRO)

    Weekly gain: 42.5 percent
    Market cap: C$21.07 million
    Share price: C$0.285

    Taranis Resources is a copper explorer focused on advancing work at its Thor project in Southeast British Columbia, Canada.

    The site has seen previous mining dating back to the early 1900s and hosts at least seven different epithermal zones. In a February mineral resource estimate update, the company reported an indicated resource of 1.14 million metric tons of ore containing 27,400 ounces of gold, 5.58 million ounces of silver, 3.1 million pounds of copper, 47.8 million pounds of lead and 77.9 million pounds of zinc.

    The most recent news from the Thor project came on April 9, when Taranis provided an update on its 2024 deep drilling program. The company finalized an alteration study of the drill holes, which encountered anomalous gold, zinc and arsenic, and plans to use the results to improve targeting and lower costs for its 2025 drilling program.

    5. Black Iron (TSX:BKI)

    Weekly gain: 41.18 percent
    Market cap: C$38.02 million
    Share price: C$0.12

    Black Iron is an exploration and development company working to advance its Shymanivske iron project in Ukraine.

    The 300 hectare property is located approximately 330 kilometers south-east of the capital of Kiev and is situated within the well-known iron ore mining district of KrivBass.

    According to a March 2020 preliminary economic assessment, project economics demonstrated an after-tax net present value of US$1.44 billion at a discount rate of 10 percent with an internal rate of return of 34.4 percent and a payback period of 3.3 years.

    The included mineral resource estimate reported a measured and indicated resource of 645.8 million metric tons of ore with an average grade of 31.6 percent total iron and 18.8 percent magnetic iron.

    Although Black Iron did not release any news this week, the company’s share price gained alongside news of the US and Ukraine reaching a critical minerals agreement.

    FAQs for Canadian mining stocks

    What is the difference between the TSX and TSXV?

    The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

    How many mining companies are listed on the TSX and TSXV?

    As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

    Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

    How much does it cost to list on the TSXV?

    There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

    The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

    These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

    How do you trade on the TSXV?

    Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

    Article by Dean Belder; FAQs by Lauren Kelly.

    Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

    Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

    Keep reading…Show less
    This post appeared first on investingnews.com

    British comedian and actor Russell Brand arrived at court on Friday after he was charged last month with rape and sexual assault.

    London’s Metropolitan Police charged Brand, 49, with one count of rape, one count of indecent assault, and one count of oral rape, as well as two counts of sexual assault. The charges relate to four separate women.

    The alleged incidents took place between 1999 and 2005. He has denied the allegations.

    The hearing will take place at Westminster Magistrate’s Court in London.

    The Metropolitan Police described Brand as living in southern England when announcing the charges in April. However British news agency PA Media has reported that he is now understood to live in the United States.

    Detectives began investigating the comedian, who more recently has repositioned himself as a social commentator, in September 2023 after receiving allegations following a joint investigation led by three British media outlets – The Sunday Times, The Times and Channel 4’s “Dispatches.”

    According to the Metropolitan Police, it is alleged that one woman was raped in 1999 in Bournemouth, southern England; one woman was indecently assaulted in London’s Westminster area in 2001; a woman was orally raped and sexually assaulted in Westminster in 2004; and a woman was sexually assaulted between 2004 and 2005, also in Westminster.

    Brand has appeared in numerous Hollywood films and hosted radio and TV shows in the UK. He was married to US pop star Katy Perry between 2010 and 2012.

    This post appeared first on cnn.com

    The world’s oldest person, Sister Inah Canabarro Lucas, has died at age 116, her order announced on Wednesday.

    The soccer-loving Brazilian nun officially became the oldest person in the world in January following the death of Japan’s Tomiko Itooka, according to Guinness World Records (GWR).

    When Canabarro was born on June 8, 1908, according to GWR, Theodore Roosevelt was still the United States President, penicillin had not yet been discovered, and movies were still silent.

    There is some dispute about her exact birth date, as Cleber Canabarro, her 84-year-old nephew, told the Associated Press that her birth was registered two weeks late and she was actually born on May 27.

    She was so skinny growing up, Canabarro added, that many doubted she would survive to adulthood, let alone become a centenarian.

    She took up religious work as a teenager and always maintained her Catholic faith was the secret to her incredibly long life. “(God) is the secret of life. He is the secret of everything,” she once said, according to LongeviQuest, a database that tracks the lives of supercentenarians. On her 110th birthday, she received a blessing from Pope Francis.

    After spending two years in Montevideo, Uruguay, Canabarro moved back to Brazil and lived in Rio de Janeiro before returning to her home state, Rio Grande do Sul, AP reported.

    She spent much of her life as a teacher and counted General João Figueiredo, the military dictator who governed Brazil from 1979 to 1985, among her former students.

    Canabarro was a lifelong fan of her local soccer club, Sport Club Internacional (Inter), which celebrated her birthday every year. The club released a statement on Wednesday paying tribute to her “kindness, faith and love.”

    British woman is now world’s oldest person

    Following Canabarro’s death, English great-grandmother Ethel Caterham became the oldest person in the world, at age 115 years and 252 days, according to GWR.

    Caterham is believed to be the last living person born in 1909 and is the last British person born before 1913, GWR added.

    Canabarro was the second-oldest Brazilian and 15th-oldest person ever, according to LongeviQuest. The title of the oldest person ever recorded belongs to Jeanne Louise Calment. Born on February 21, 1875, her life spanned 122 years and 164 days, according to GWR.

    This post appeared first on cnn.com

    The man sitting in front of us belongs to the Sinaloa Cartel — one of the most powerful and feared criminal networks in the world — and one the US government recently designated a foreign terrorist organization.

    This is a gang that “murder, rape, torture and exercise total control… posing a great threat to (the United States’) national security,” according to US President Donald Trump, who has promised to “wage war” against Mexico’s cartels.

    It’s taken weeks to reach this man, verify his identity, and persuade him to talk with us. Our contact on the ground here in the Mexican state of Sinaloa has repeatedly reassured him we are not the police. Or DEA agents. Or the CIA.

    We arrive at a nondescript house in a residential area on the southern side of Culiacán city and are instructed to cover our camera on the way in. It’s a neighborhood that’s known to be populated by cartels. Once inside, we’re taken to a dimly lit bedroom at the back of the house. A giant painting of Jesus Christ is nailed to the wall, above a rusty looking bed caked in dust. An older, beefy man stands by the window, holding a walkie-talkie close to his ear and anxiously glancing up and down the street where cars and military vehicles pass by.

    The cartel member — now a terrorist in the eyes of the US government — sits in one corner of the room. He has a firm handshake and a hefty build. He wears a “Joker” movie baseball cap pulled down over his head, a scarf wrapped tightly around his face, sunglasses to disguise his eyes, and blue latex gloves to cover the tattoos on his hands. Propped up by his chair is an assault rifle. Next to that are two more walkie-talkies, from which cartel look-outs provide a constant stream of feedback on the movements of the Mexican military.

    He says he produces fentanyl — the synthetic opioid that has become the most common drug involved in overdose deaths in the United States.

    “Of course, of course, things are sad,” says the man, who didn’t give his real name. “(But) you have to continue… Families have to eat,” he shrugs.

    For nearly two decades, Mexican authorities have been waging a battle against the cartels, with limited results. And for over five decades, various US presidents have declared wars on drugs. But amid fresh waves of cartel violence and pressure from Trump in the form of threatened US military intervention and higher import tariffs, President Claudia Sheinbaum has adopted a more head-on approach to tackling the issue. (Her predecessor Andrés Manuel López Obrador’s “hugs, not bullets” stance proved woefully ineffective.)

    Around 10,000 members of Mexico’s National Guard have been sent to their northern border, in part to stop the flow of narcotics from entering the US. And hundreds of soldiers are believed to have joined preexisting armed forces, marines, National Guards and law enforcement already stationed in Sinaloa state, home to the infamous Sinaloa drug cartel previously led by the notorious drug lord Joaquín “El Chapo” Guzmán.

    The precursor chemicals used to make fentanyl are largely sourced from China, before being cooked up in labs across Mexico, where cartels have well-established control over entire territories — and relatively easy access to the US market. (The Mexican government denies that fentanyl is produced in country, claiming instead that most of the synthetic labs they discover are being used to make methamphetamine.)

    Business these days is not good, the cartel member says, acknowledging that the Sinaloa Cartel itself has been significantly weakened by the military’s actions. But they can still survive. Only small quantities of the drug can be produced, he explains, as the group needs to stay nimble in case the authorities carry out impromptu raids.

    Using smaller reactors and cooking equipment allows them to dismantle their operation at a moment’s notice, and to smuggle these manageable quantities of drugs through different neighborhoods — and eventually over the border. Sometimes they move location for different stages of production, ensuring they’re only in one area for a short period of time. The cartels are also pouring additional resources into surveillance to keep tabs on the police and military. And much of the production has moved to other states, where the Mexican military has less of a presence.

    A mammoth military task

    Crammed into a Blackhawk helicopter with the Mexican military, the challenges of disrupting the drug trade can be seen in the sprawling landscape below.

    Sinaloa state stretches out for over 22,000 square miles, and the soldiers scour the mountainous terrain beneath them for any signs of tracks, electrical wires or water supplies that could lead to a hideout where drugs are produced. Given that these operations have mostly moved out of the city and are now tucked away somewhere in this vast countryside, they’re much harder to spot.

    Fields of marijuana and poppies (used to make heroin) are more visible, but the synthetic drug labs can pop up anywhere and often require only rudimentary equipment: pots, pans, basic protective gear to stop the workers from breathing in toxic fumes, plastic vats where the chemicals are mixed, small reactors used to “cook” the final product and a sheet of tarpaulin that hangs above, so their operation is not visible from the military’s helicopters or drones.

    On a visit to one recently discovered meth lab, it was apparent that a small team of cartel employees had been working here up until the day before. The military rarely catch the culprits, who likely scarper as soon as they see the helicopter landing. Left behind are parts of a reactor and big plastic containers of liquid meth, along with piles of perishable food, water and even a pair of jeans — signs that they’d been camped up in this area for several days.

    Mexican soldiers wearing gas masks and white Hazmat suits smash through the remaining equipment in sweltering 96-degree Fahrenheit heat, stopping occasionally to mop up sweat pouring from their faces.

    A sign was nailed to a post at the entrance of the lab. It read “To make a deal: Cell phone”: an open invitation for any willing soldier to write their phone number and look the other way, presumably in exchange for a payout.

    “This literally never happens,” insists Brigadier General Porfirio Fuentes Vélez. “I see the government’s commitment in addressing (the issue of drugs). We know it’s a very serious problem because there’s a market that demands a lot of synthetic drugs. But criminals are increasingly producing less… because the strategy of the current Mexican president is to strengthen the coordination of all agencies at the federal, state, and municipal levels.”

    But off the record, almost everyone we speak to acknowledges that corruption is widespread. In fact, the security chief who oversaw a previous crackdown was later convicted in US federal court for taking millions of dollars from the Sinaloa cartel.

    War within a war

    Rosalinda Cabanillas lets out a guttural wail that echoes across the entire cemetery. The sound of pain that no mother should have to go through. She clings to the white casket carrying her 26-year-old daughter, Vivian Karely Aispuro, whose body was found 17 agonizing days after she disappeared.

    “Thank you for the great adventure. Thank you for everything,” sobs 27-year-old Alma Aispuro, as her younger sister’s body is lowered into the ground. A bright, five-piece mariachi band blast out their tunes in a constant loop.

    Over the last seven months, violence has surged across Sinaloa, particularly in Culiacán. The city has become awash with blood, as rival factions of the Sinaloa cartel fight a deadly war of vengeance. Two powerful leaders of the Sinaloa cartel were arrested in Texas last July: Ismael Zambada Garcia (known as “El Mayo”, he’s a co-founder of the group) and Joaquín Guzmán López, son of El Chapo. Both stand accused of leading fentanyl manufacturing and trafficking networks. But Zambada was caught after an alleged betrayal by Guzmán López, officials say, driving their followers into opposing groups. (In the US, Zambada has pleaded not guilty on a 17-count indictment accusing him of narcotics trafficking and murder. Gúzman López has pleaded not guilty to narcotics, money laundering and firearms charges.)

    Since then, Culiacán has become paralyzed by regular shootouts between the two factions, as well as the military. More than 1,200 men, women, and children have been killed in the past year, more than double the toll of the previous 12 months, according to the State Council of Public Safety (a citizens’ organization). Hundreds more have gone missing.

    Though the military’s presence has helped calm the situation somewhat, it’s far from under control, and fear runs deep among many residents. Attendance at local schools is down, and children are taught how to take cover in case they find themselves trapped between gunfire. As night falls, the usually vibrant city is eerily quiet — apart from the occasional sound of gunfire. A self-imposed curfew still mostly stands, with bars and restaurants closing early. Volunteer paramedics whizz round on motorbikes, responding to a stream of medical emergencies resulting from violent incidents.

    Alma says that her sister Vivian was not involved with the cartels, and we found no evidence to suggest otherwise. “But the violence raging here in Culiacán led to this happening. Because before the war we’re experiencing now, there were codes — and women and children were respected. After the war, those codes no longer exist,” she says.

    Anyone with even the slightest involvement with members of the cartel could be at risk. And even those who keep their distance, we were told by residents living through this, can find themselves taken hostage or murdered.

    Miguel Calderón, who lives in Culiacán and works for the State Council on Public Security, believes that things could be even worse.

    “That pressure (from the Trump administration) has translated into tangible results here, into better coordination that translates into all these issues of inhibiting criminal activity, especially its firepower… If it weren’t for federal forces and all this military support from the national government, the problem would be two or three times worse.”

    Ultimately, though, he believes it’s difficult to maintain this pressure when so many young men are being recruited into the cartel every day, with promises of paychecks far bigger than they’d receive otherwise. He says that something needs to be done to seriously curb the US demand for the drugs produced here. Without that, the Sinaloa cartel are likely to remain a prominent, wealthy force — and more families will feel anguish like that of Vivian Aispuro’s family.

    “After my sister, that same day we found her dead, five women disappeared, including girls and others the same age as my sister. And we’re afraid, honestly, I’m afraid. I’m afraid for my family. I’m afraid to be a woman in Mexico, and I’m afraid that no one will help us, no one will listen to us, and that no one cares about us,” says Alma, as she watches the gravediggers shovel dirt over her sister’s grave.

    This post appeared first on cnn.com

    The pontificate of Pope Francis profoundly shook up the Catholic Church.

    His restless 12-year-papacy, with its focus on a “poor church for the poor,” called on Catholicism to leave its comfort zone and pitch its tent among the poorest communities. Francis opened discussions on topics that were once viewed off limits, such as the role of women. He welcomed LGBTQ Catholics as “children of God” and opened the door for remarried divorcees to receive communion. He also generated attention with his strong critiques of economic injustice and calls to protect the environment.

    Throughout his papacy, however, Francis faced fierce resistance from small, but noisy, conservative Catholic groups and a certain amount of indifference and silent resistance from bishops in the hierarchy.

    Now, as 133 voting members of the College of Cardinals prepare for the conclave, the closed-doors process to elect Francis’ successor, they face a weighty choice: Build on the late pope’s reforms and vision, or slow things down and embark on a course correction.

    Those who will process into the Sistine Chapel on Wednesday to begin the process to elect a new pope could not have failed to notice the outpouring of affection for Francis after he died.

    When Cardinal Giovanni Battista Re, the Dean of the College of Cardinals, talked warmly about Francis’ vision for the church as he delivered the homily at Francis’ funeral, the crowd gathered in St. Peter’s Square repeatedly applauded. And in East Timor, which Francis visited in 2024, around 300,000 people attended a Mass for the late pope on the same day as the funeral. All of this has led one retired cardinal to urge his confrères to take note.

    “The people of God have already voted at the funerals and called for continuity with Francis,” Cardinal Walter Kasper, 92, a theological adviser to the late pope, told La Repubblica, an Italian daily newspaper.

    In other words – read the room.

    Francis’ supporters say that only a pope willing to continue what the late pontiff started will do so. But the politics of a papal election process are subtle. Anyone overtly campaigning to be pope immediately disqualifies themselves and the cardinals must vote according to what they discern to be the will of God. Still, that doesn’t mean simply sitting in their rooms and praying for divine inspiration on how to vote.

    Each morning during the pre-conclave period the cardinals meet in the Paul VI synod hall for “general congregations.” Then, in the evenings, they often continue the discussions over a plate of pasta and a glass of wine, with several seen eating in trattorias in the Borgo Pio, a village-like quarter near the Vatican.

    A fault line is already emerging. Some cardinals want the next pope to follow firmly in Francis’ footsteps and focus on the “diversity” of the universal church, whose axis has shifted away from Europe and the West. Others are calling on the next pope to emphasize “unity” – code for a more predictable, steady-as-she-goes approach.

    Austen Ivereigh, a papal biographer and Catholic commentator, puts the two positions this way.

    “The first (diversity) sees Francis as the first pope of a new era in the Church, showing us how to evangelize today, and how to hold together our differences in a fruitful way,” he explained.

    “The second (unity) sees the Francis era as a disruption, an interruption, that now needs to be reined back by a return to a greater uniformity.”

    Those pushing the “unity” line include some of the most vociferous critics of the late pope, such as Cardinal Gerhard Müller, the Vatican’s former doctrine chief who Francis replaced in 2017. Characterizing the last pontificate as a divisive authoritarian, he recently told the New York Times: “All dictators are dividing.”

    Most cardinals will not share Müller’s characterization, and cardinals have repeatedly expressed appreciation for Francis’ concern for those at the margins and his ability to connect with people.

    But a number of them are rallying around the “unity” slogan and have plenty of criticisms of the last papacy, including his decision to embark on a major, multi-year reform process – the synod – that has opened questions about women’s leadership and how power is exercised in the church.

    Some also didn’t like Francis’ full-throated critiques of priests who like to wear elaborate vestments or his offering of blessings to same-sex couples, which has been rejected by some bishops in Africa. The feeling among the “unity” group, which has the support of some retired cardinals, is that the next pope needs less of the disruptive style of Francis.

    The leading “unity” candidate, it would appear, is Cardinal Pietro Parolin, the Holy See Secretary of State. He would not represent an obvious break with Francis, but his style would be very different. Parolin is a mild-mannered, thoughtful Italian prelate who oversees the Vatican’s diplomacy, which has included a provisional agreement with China over the appointment of bishops.

    But Parolin’s sceptics point to his lack of experience working at the church’s grassroots and his flat delivery of a homily at a Mass for around 200,000 young people in St Peter’s Square, the day after Francis’ funeral. As he read from his notes, the cardinal seemed unable to engage the congregation, in stark contrast to Francis, who frequently spoke off-the-cuff and would often engage in a back and forth with young people.

    Others see the unity argument as superficially attractive but having the wrong focus. One of those is Cardinal Michael Czerny, who worked closely with Pope Francis, and has led the Vatican office for human development. He said that unity – while essential – cannot be a program or a policy.

    “The terrible danger is, if you make this your obsession, and if you try to promote unity as your primary objective, you end up with uniformity,” he said. “And this is exactly what we don’t need. We spent decades now trying to learn to get beyond uniformity to a true catholicity, a true pluralism.”

    Czerny added: “It’s interesting the words (unity and uniformity) are so close, but the difference is huge. I think one is the kiss of death, and the other is life and abundant life.”

    Will of the people

    Each night during the nine official days of mourning that follow the death of a pope, a cardinal presides at a Mass and has an opportunity to reflect on Francis’ pontificate. It’s harder for cardinals to be openly critical of the late pontiff while others among them are asking in these Masses how the cardinals can build on what Francis started.

    “I think of the multiple reform processes of Church life initiated by Pope Francis, which extend beyond religious affiliations,” Cardinal Baldassare Reina, the vicar of Rome, said in a homily this week.

    “People recognized him as a universal pastor. These people carry concern in their hearts, and I seem to discern in them a question: What will become of the processes that have begun?”

    That need to continue the reforms begun by Francis could favor a candidate such as Cardinal Mario Grech, who leads the synod office, and which has showcased the diversity of the church. The reform-minded German cardinal Reinhard Marx has been among those arguing for a pope who continues in the line of Francis, as has Cardinal Jean-Claude Hollerich of Luxembourg, who played a leading role in the synod.

    A “diversity” candidate could come from Asia or be closely connected to the church’s frontline missions. In this vein, there is some talk of Cardinal Luis Antonio Tagle of the Philippines, but he is not the only possibility.

    Outcome hard to predict

    The group of cardinals choosing Francis’ successor is a diverse body drawn from virtually every corner of the globe; during his pontificate Francis dramatically re-shaped the body of cardinals, making appointments to countries that had never had a cardinal before.

    But it means that many of them don’t know each other well, and during the discussions in the Paul VI synod hall, the cardinals have been wearing name badges. The intense media interest also seems to have startled cardinals unused to being swarmed by groups of reporters and cameras when they enter or leave the Vatican.

    It is much harder to predict how such a diverse body is going to vote. However, it seems the cardinals from the “peripheries,” who represent the shift in the Catholic Church’s axis away from Europe, largely share the late pontiff’s vision and are primarily focused on how the next pope responds to the crises facing the globe.

    “Religions must unite in a common cause to save humanity,” he said. “The world urgently needs a new breath of hope – a synodal journey that chooses life over death, hope over despair. The next pope must be that breath!”

    The cardinals entering the Sistine Chapel next week for conclave are not just casting their vote for a new pope, but making a critical decision that will impact the church for years to come.

    This post appeared first on cnn.com