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German spy agency labels far-right AfD ‘extremist’

Germany’s domestic intelligence agency on Friday classified the far-right Alternative for Germany (AfD) as an extremist entity that threatens democracy, a move enabling it to better monitor the party that came second in February’s federal election.

The BfV agency’s finding, based on a 1,100-page expert report, that the AfD is racist and anti-Muslim allows the authorities to increase surveillance of the party, including by recruiting confidential informants and intercepting communications.

The stigma could also hamper the party’s ability to attract members, while public funding could be at risk.

The AfD, which currently tops several opinion polls, condemned the decision, while political analysts said it risked further fueling support for the party.

“Central to our assessment is the ethnically and ancestrally defined concept of the people that shapes the AfD, which devalues entire segments of the population in Germany and violates their human dignity,” the domestic intelligence agency said in a statement.

“This concept is reflected in the party’s overall anti-migrant and anti-Muslim stance.”

The AfD has “defamed and vilified” individuals and groups, stirring up “irrational fears and hostility toward them,” it added.

In the party’s first response to the report, the leader of a regional parliamentary group, Anton Baron, said: “It is sad to see the state of democracy in our country when the established parties now resort to the most politically questionable means to act against the strongest opposition party.”

Heated debate

The intelligence decision comes days before conservative leader Friedrich Merz is due to be sworn in as Germany’s new chancellor and amid a heated debate within his party over how to deal with the AfD in the new parliament.

The party won a record number of seats, theoretically entitling it to chair several key parliamentary committees.

A prominent Merz ally, Jens Spahn, has called for treating the AfD as a regular opposition party in parliamentary procedures, arguing that this approach prevents the party from adopting a ‘victim’ narrative.

However, other established parties as well as many within Spahn’s own conservatives have rejected that approach – and could use Friday’s news as justification for blocking AfD attempts to lead key committees.

“There is tension between a party’s claim to chair positions based on its size and the freedom of conscience of the members of parliament,” said political scientist Wolfgang Schroeder at Kassel University.

“Now, these members can argue that AfD representatives do not meet the necessary standards. The signs are mounting that the AfD is not a normal party, and as a result, it will continue to be marginalized.”

The classification could reignite attempts to get the AfD banned, but Germany’s outgoing chancellor Olaf Scholz, whose Social Democrats will be the junior partner in Merz’s new coalition, advised against rushing to outlaw the AfD.

“I am against a quick shot, we have to evaluate the classification carefully,” he said on Friday at a church convention in the northern city of Hanover.

The German parliament could also attempt to limit or halt public funding to the AfD – but for that authorities would need evidence that the party is explicitly out to undermine or even overthrow German democracy.

Certain factions of the AfD such as its youth wing had already been classified as extremist, while the party at large was classified as a suspected extremist case in 2021.

Created to protest the euro zone bailouts in 2013, the euroskeptic AfD morphed into an anti-migration party after Germany’s decision to take in a large wave of refugees in 2015.

That the BfV agency needs a certain classification to be able to monitor a political party reflects the fact it is more legally restrained than other European intelligence services, in reaction to the country’s experience under both Nazi and Communist rule.

This post appeared first on cnn.com

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Consumers are not lovin’ it: McDonald’s has its worst quarter since 2020

McDonald’s reported its worst quarterly sales for the United States since the height of the pandemic in 2020, the latest restaurant chain to be affected by America’s turbulent economic environment.

The burger giant reported U.S. same-store sales fell 3.6%, the largest three-month drop since Q2 2020, when they plunged 8.7%. Forecasts had been for a decline of just 1.7%.

‘Consumers today are grappling with uncertainty,’ McDonald’s Chairman and CEO Chris Kempczinski said in a statement, as the chain cited lower guest counts.

In a follow-up call with investors, McDonald’s executives said that traffic among middle-income diners fell by ‘nearly double digits’ alongside an ongoing drop-off among low-income ones. As an example, they said more people appear to be skipping breakfast entirely to cut back on spending, or eating breakfast at home.

‘People are just visiting less,’ they said.

High-income traffic, meanwhile, remained stable, they said.

That reflects the economy writ large: While less-well-off consumers rein in transactions to focus on essentials, wealthy consumers continue to spend freely.

McDonald’s is the latest restaurant chain to report weak financial results amid signs that consumers are pulling back on discretionary spending. Chipotle, Domino’s, Pizza Hut, Shake Shack and Starbucks all saw slowing or declining sales in their quarter, with many citing particular weakness among lower-income consumers.

McDonald’s also reported revenues that missed forecasts for the third time in four quarters.

The more volatile economic environment that’s been accelerated by President Donald Trump’s tariffs policies is also being felt abroad.

On the call, company officials said that while the McDonald’s brand hadn’t been affected by worsening perceptions of the U.S. by overseas consumers, its internal surveys had picked up a notable uptick in anti-American sentiment, particularly among diners in northern Europe and Canada.

‘We have seen … an increase in people in various markets saying they’re going to be cutting back on purchases of American brands,’ they said.

It nevertheless maintained its full-year financial outlook, including plans to open 2,200 locations, which it said should help boost sales growth by slightly more than 2%. It said a promotional tie-in with the ‘Minecraft Movie’ had been a hit, and that its refreshed value offerings continued to position it strongly compared with competitors.

Still, officials said on the call that they remained “cautious about consumer sentiment.”

Shares fell 1.6% in early trading.

This post appeared first on NBC NEWS

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Tesla denies report that the EV maker is looking to replace Elon Musk

Shares of Tesla were flat in premarket trading Thursday after the EV maker denied a Wall Street Journal report that its board was searching for a replacement for chief executive Elon Musk.

The report, citing comments from sources familiar with the discussions, said that Tesla’s board members reached out to several executive search firms to work on a formal process for finding the company’s next CEO. Shares of Tesla fell as much as 3% in overnight trading on trading platform Robinhood following the news, before paring losses.

Tesla chair Robyn Denholm wrote on the social media platform X that the report was “absolutely false.”

“Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company,” she wrote.

Elon Musk during a Cabinet meeting at the White House on Wednesday.Evan Vucci / AP

“This is absolutely false (and this was communicated to the media before the report was published). The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”It comes after a sharp drop in the electric vehicle giant’s sales and profits, with its top and bottom lines missing estimates in the first quarter. Musk has admitted that his involvement with the Trump administration could be hurting the automaker’s stock price.

The mega-billionaire said on a Tesla earnings call last week that he plans to spend just a “day or two per week” running the so-called Department of Government Efficiency beginning in May.Tesla’s total revenue slipped 9% year-on-year to hit $19.34 billion in the January-March quarter. This falls short of the $21.11 billion forecast by analysts, LSEG data shows.

Revenue from its automotive segment declined 20% year-on-year to $14 billion, as the company needed to update lines at its four vehicle factories to start making a refreshed version of its popular Model Y SUV. Tesla also attributed the decline to lower average selling prices and sales incentives as a drag on revenue and profit.

Its net income plunged 71% to $409 million, or 12 cents a share, from $1.39 billion or 41 cents a year ago.

Since the start of the year, its shares have plunged over 30%.

This post appeared first on NBC NEWS

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Amazon is stepping up to fill a gap in Hollywood’s movie slate

Tech is saving Hollywood — though not in the way you might think.

Back in 2022, e-commerce giant and relative upstart movie studio Amazon promised to spend around $1 billion each year on theatrical releases, a figure that would fund between 12 and 15 films annually. Today, it appears ready to deliver.

Earlier this month, the company, which operates the streaming platform Prime Video and recently acquired MGM studios, took the stage at CinemaCon in Las Vegas to tout its line-up of movies made just for the big screen.

Amazon’s inaugural presentation at the annual convention of Cinema United — previously known as the National Association of Theatre Owners — wowed exhibitors, marketers and media in attendance with flashy trailers and first-look footage from upcoming films like “Project Hail Mary,” “After the Hunt” and “Verity.”

It also brought some star power with the likes of Ryan Gosling, Andrew Garfield, Julia Roberts, Chris Pratt, Chris Hemsworth, Hugh Jackman and Michael B. Jordan set to headline these cinematic releases.

“I thought the presentation was incredible,” said Brock Bagby, president and chief content, programming and development officer at B&B Theatres. “For their first year out, they pulled out all the stops.”

While the studio won’t have a full slate of more than a dozen films until 2026, it has steadily invested in theatrical content over the last few years. Amazon had one wide release, a film that played in more than 2,000 theaters, in 2023 and five in 2024. This year Amazon has only four wide releases on the calendar so far, but the company is slated to have 14 in 2026 and 16 in 2027.

This surge of theatrical content is just what the domestic box office needs. While blockbuster franchise films have been abundant in the wake of the pandemic, the overall number of wide releases has shrunk over the last decade. Even before Covid and dual Hollywood labor strikes slowed production down, Hollywood was making fewer and fewer movies each year, according to data from Comscore. 

Mid-budget movies — often in the drama, comedy and romantic comedy genres — began disappearing in the mid-2010s as studios sought to invest in bigger budget franchise flicks that could result in higher profits. The comparatively lower-budget films have since been predominantly redirected to streaming platforms in an effort to stock these services with more affordable content. 

Analysts project that the domestic box office has lost around $1 billion each year in total ticket sales as a result of that shift.

At the same time that studios were altering their film slates, movie houses were merging. The most recent union between the Walt Disney Company and 20th Century Fox, first announced in 2017 and finalized in early 2019, resulted in the loss of between 10 and 15 film releases annually, according to data from Comscore.

In 2015, 20th Century Fox released 17 films. After its acquisition, the pandemic and the strikes, it has released fewer than a half dozen titles each year.

“With consolidation in the past of some of the studios, the output numbers have decreased over the past few years, and with fewer releases there is less potential for box office and concession sales,” said Paul Dergarabedian, senior media analyst at Comscore. “More importantly movie theaters need new films to draw customers into their auditoriums.”

Amazon’s commitment to theatrical, alongside the emergence of smaller studios like Neon and A24, should help to close the gap left by 20th Century Fox’s acquisition.

“They’ve filled the gap that we’re missing from Fox, which is so exciting, and it looks like a similar slate to Fox, where there’s a few big titles, but a lot of that mid-range,” Bagby said.

What industry experts have discovered is that the strength of the box office doesn’t just rely on the success of franchise films — superhero flicks, big-budget action fare and the like — but also on the sheer volume and diversity of content.

There is a direct correlation between the number of theatrical releases and the strength of the overall box office. During the pandemic, the decline in box office ticket sales largely tracked nearly in lock step with the percentage decline in film releases.

“The number of movies being released continues to trend in the right direction,” said Michael O’Leary, CEO of Cinema United. “When considering wide releases at 2,000 or more locations, we saw 94 last year, but we expect at least 110 in 2025. Beyond that, distributors have secured release dates as far out as 2028 for movies with plenty of commercial potential.”

This post appeared first on NBC NEWS

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Nvidia says Anthropic is telling ‘tall tale’ in its defense of U.S. AI chip restrictions on China

Nvidia blasted Anthropic Thursday in a rare public clash over artificial intelligence policy with U.S. chip export restrictions set to take effect.

“American firms should focus on innovation and rise to the challenge, rather than tell tall tales that large, heavy, and sensitive electronics are somehow smuggled in ‘baby bumps’ or ‘alongside live lobsters,’ ” a spokesperson for Nvidia said.

Anthropic, the AI startup backed by billions from Amazon, argued for tighter controls and enforcement, saying in a blog post Wednesday that Chinese smuggling tactics involved chips hidden in “prosthetic baby bumps” and “packed alongside live lobsters.”

Chip restrictions from former President Joe Biden’s term, called the “AI Diffusion Rule,” are set to take effect May 15. The rule puts global export controls on advanced AI chips and model weights to prevent rival nations like China from gaining ground in an escalating AI arms race.

President Donald Trump is reportedly working on updating these restrictions, adding another layer of uncertainty to the already contentious policy.

Anthropic, which relies heavily on Nvidia hardware to train its models, is calling for tighter restrictions that could limit Nvidia’s overseas business and revenue from chip sales.

Anthropic argued that compute access is the key strategic chokepoint in the race to build frontier AI. The company proposed lowering the export threshold for Tier 2 countries, tightening the rules to reduce smuggling risks, and increasing funding for enforcement.

“Maintaining America’s compute advantage through export controls is essential for national security and economic prosperity,” Anthropic wrote.

In a sharply worded response to Anthropic, an Nvidia spokesperson blasted the use of policy to limit competitiveness.

“China, with half of the world’s AI researchers, has highly capable AI experts at every layer of the AI stack. America cannot manipulate regulators to capture victory in AI,” the spokesperson said.

Nvidia CEO Jensen Huang, who visited with Chinese trade officials in mid-April, said Wednesday in Washington, D.C. that China is “not behind” the U.S. in AI and praised Huawei as a top global tech company.

“They’re incredible in computing and network technology, all these essential capabilities to advance AI,” Huang said. “They have made enormous progress in the last several years.”

This post appeared first on NBC NEWS

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Master the 18/40 MA Strategy: Spot Trend, Momentum & Entry

In this video, Joe demonstrates how to use the 18-day and 40-day moving averages to identify trade entry points, assess trend direction, and measure momentum. He breaks down four key ways these MAs can guide your trading decisions—especially knowing when to be a buyer. Joe also analyzes commodities, noting recent weakness, and highlights key technical levels to watch on the SPY, QQQ, and IWM. The session wraps with detailed viewer stock chart requests.

The video premiered on April 30, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

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The Hidden Meaning Behind the Tech Sector’s Rally (And How to Spot It)

When you’re lost in the woods, you reach for a compass to find true north. In the markets, it’s not so simple, as the landscape is always shifting. If there is a “true north” in this terrain, it might be better understood as a characteristic—strength and momentum over time, rather than a single stock or sector.

With sentiment muddled and signals mixed, how do you cut through near-term noise and find the “true north” in a shifting market landscape? This is where StockCharts’ MarketCarpets comes in. You can think of it as a visual compass that can help you reorient and recalibrate.

What MarketCarpets is Saying Now

All MarketCarpets readings use the five-day setting, since shorter time frames are particularly susceptible to noise in the current context.

FIGURE 1. MARKETCARPETS S&P VIEW. Lots of green, but I want to see a reduction.

On Thursday morning, there were more bullish greens than bearish reds. They represent S&P 500 stocks performing better relative to others—specifically from a ‘long only’ (bullish) perspective. But what do those greens have in common?

The answer is that most, if not all, are Information Technology sector funds.

Technology Sector Leads the Charge in S&P 500

If you select the S&P Sector ETFs group, Technology is the strongest among all 11 S&P sectors.

FIGURE 2. MARKETCARPETS SECTORS. Technology is far ahead of most other sectors, which read bullish.

If you follow financial news, you’re probably well aware of how certain tech companies are performing, especially in light of the current earnings season.

But not every investor wants to risk allocating capital toward individual stocks, given the volatility of today’s geopolitical environment, where news on a given day can cause markets to soar or slump. So, conservative investors, particularly those in or nearing retirement, might want to opt for a sector ETF instead, like the Technology Select Sector SPDR Fund (XLK).

Why is technology outperforming?

Six Reasons Tech Stocks are Outperforming in 2025

Here’s a quick breakdown of what’s going on:

  • AI and cloud boom. Enterprise-focused giants are thriving due to surging AI demand.
  • Earnings confidence. Big tech’s strong earnings are keeping investor sentiment positive despite market volatility.
  • Tariff mitigation. Tech companies are proactively shifting supply chains to soften tariff impact.
  • Tariff relief. Temporary exemptions on key tech products give hardware makers a short-term boost.
  • Long-term innovation appeal. Investors see AI, chips, and automation as long-term growth drivers.
  • Stable revenue streams. Tech firms with enterprise and software services offer more stability than consumer-driven sectors.

Technology Sector Overbought? Market Breadth Says Maybe

That’s a lot of fundamental talk, but what does the technical picture look like? Let’s start by analyzing market breadth with the S&P Technology Sector Bullish Percent Index ($BPINFO) chart.

FIGURE 3. TECH SECTOR BPI. Most tech stocks in the sector are ultra-bullish, but that can also signal overbought conditions.

The Bullish Percent Index (BPI) is at 85, meaning 85% of all stocks within the sector are triggering Point & Figure Buy Signals. Above 50% is bullish, but above 70%, let alone 85%, XLK is straddling ultra-bullish to overbought.

If you look at the magenta rectangle, you can see where XLK’s trend is situated—at the point of recovery following a two-month tumble. However, it’s still below its 200-day simple moving average (SMA), and, as the saying goes, nothing good happens below the 200.

XLK’s Price and Volume Action: A Closer Look

Let’s zoom in on a daily chart.

FIGURE 4. DAILY CHART OF XLK. It broke above resistance, but can it sustain upward momentum?

XLK’s recovery effort gained momentum with a notable gap up on Thursday. Positive momentum is reinforced by a rising Relative Strength Index (RSI) above the 50 level, suggesting XLK still has room to run.

From a volume perspective, the On Balance Volume (OBV) indicator is trending higher, signaling increased buying pressure. A 20-day SMA is overlaid to show how OBV is performing relative to its average. However, the Chaikin Money Flow (CMF), hovering flat near the zero line (see blue circle), indicates accumulation with hesitation.

Key Support Levels to Watch If You’re Bullish on XLK

If you’re considering a long position in XLK, keep an eye on these key technical levels:

  • Initial Support – $205. The breakout level around $205 (marked by the blue dotted line) should act as the first line of support on any pullback.
  • Secondary Support Zone – $185 to $187.50. If $205 fails, the yellow-shaded zone becomes the next support range. But note: if price falls here, the $205 breakout level may flip into resistance.
  • Critical Support – $172.50. A drop toward $172.50 could signal deeper technical weakness. That’s why the area is shaded red—to underscore its importance.

In each case, monitor the CMF for confirmation. A rising CMF, especially in the first two support zones, would suggest continued buying pressure—a bullish signal. Conversely, if CMF dips below the zero line, it would signal growing selling pressure, reinforcing a more bearish outlook.

At the Close

The tech sector is leading the charge, but you have to estimate whether momentum is real or just generating noise. MarketCarpets works like a compass, helping you visually navigate market conditions and spot patterns. Pair it with tools like RSI, OBV, CMF, or any other preferred tool in your analytical toolbox to create well-defined setups and exits. In a market environment driven by sentiment, headlines, fear, and FOMO, having a solid technical foundation is more important than ever.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your personal and financial situation, or without consulting a financial professional.

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Top 10 Stock Charts For May 2025: Breakouts, Trends & Big Moves!

Discover the top 10 stock charts to watch this month with Grayson Roze and David Keller, CMT. They break down breakout strategies, moving average setups, and technical analysis strategies using relative strength, momentum, and trend-following indicators. This analysis covers key market trends that could impact your trading decisions. You don’t want to miss these insights into market dynamics and chart patterns that could impact your trading decisions.

This video originally premiered on May 1, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

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SAGA Metals Announces Non-Brokered Private Placement and Provides Corporate Update

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Saga Metals Corp. (the ‘Company’ or ‘SAGA’) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery in Canada, is pleased to announce that it intends to complete a financing by way of a non-brokered private placement for aggregate gross proceeds of C$2,500,000 comprised of: (i) 2,500,000 flow-through common share units of the Company (the ‘ FT Units ‘) at C$0.30 per FT Unit for gross proceeds of C$750,000, and, (ii) 7,000,000 hard dollar common share units of the Company (the ‘ HD Units ‘, and together with the FT Units, the ‘ Securities ‘) at C$0.25 per HD Unit for gross proceeds of C$1,750,000 (collectively, the ‘ Offering ‘).

Financing Overview:

Each FT Unit consists of one flow-through common share (a ‘ FT Share ‘) as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘ Tax Act ‘), and one transferable common share purchase warrant (a ‘ Warrant ‘). Each Warrant will entitle its holder to purchase one common share in the capital of the Company (a ‘ Warrant Share ‘) at a price of C$0.50 for 24 months from the closing date of the Offering (the ‘ Closing Date ‘). The Warrants and the Warrant Shares underlying the FT Units will not qualify as ‘flow-through shares’ under the Tax Act.

Each HD Unit consists of one common share (a ‘ HD Share ‘) and one Warrant. Each Warrant will entitle its holder to purchase one Warrant Share at a price of C$0.50 for 24 months from the Closing Date.

Each of the Warrants will be subject to the right of the Company to accelerate the expiry date of the Warrants to a date that is 30 days following dissemination of a news release announcing such acceleration if, at any time, after the Closing Date, the closing price of the Company’s common shares equals or exceeds C$0.75 for a period of ten consecutive trading days on the TSX Venture Exchange.

All securities issued in connection with the Offering are subject to a hold period of four months and one day following the Closing Date pursuant to applicable securities laws. The Company may pay finder’s fees in connection with the Offering.

The gross proceeds from the FT Units will be used by the Company for ‘Canadian exploration expenses’ that are ‘flow-through critical mineral mining expenditures’ (as such terms are defined in the Tax Act) on the Company’s Labrador, Canada properties, including the Company’s flagship asset, the Double Mer Uranium Project. The net proceeds of the HD Units will be used by the Company for administrative and general working capital.

The securities of SAGA have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘), or any state securities laws, and may not be offered or sold, within the United States, unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.

No securities regulatory authority has reviewed or approved of the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of SAGA in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Digital Marketing Services Agreement with Machai Capital Inc.

The Company further reports that it entered into a digital marketing services agreement dated May 1, 2025 (the ‘ Marketing Agreement ‘) with Machai Capital Inc. (‘ Machai ‘). Pursuant to the Marketing Agreement, Machai will, among other things, provide the Company with certain marketing services to expand investor awareness of the Company’s business and to communicate with the investment community (the ‘ Machai   Services ‘). The Machai Services will be provided by Machai over a 60-day term. The Marketing Agreement may be terminated at any time by mutual consent of both parties.

The Machai Services will include, among other things: (i) branding, content and data optimization to assist the Company to create in-depth marketing campaigns, and (ii) tracking, organizing and executing the Machai Services through search engine optimization, search engine marketing, lead generation, digital marketing, social media marketing, email marketing, and brand marketing. In consideration of the Machai Services, and pursuant to the terms and conditions of the Marketing Agreement, the Company has agreed to pay Machai a fee of C$200,000 (plus applicable taxes) over a 60-day term, which will be paid using the Company’s available working capital. This agreement may be terminated at any time, with mutual consent of both parties

The Machai Services will be rendered primarily online through a variety of news and investment community communications channels. Suneal Sandhu, the President of Machai – located at 101 – 17565 – 58 Avenue, Surrey, BC, V3S 4E3 – will be involved in conducting the Machai Services. Machai and Mr. Sandhu do not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.

The terms and conditions of the Marketing Agreement remain subject to approval of the TSX Venture Exchange.

Consulting Agreement with Simone Capital Corp.

In addition, the Company reports that it entered into a consulting agreement dated May 1, 2025 (the ‘ Consulting Agreement ‘) with Simone Capital Corp. (‘ Simone Capital ‘). Pursuant to the Consulting Agreement, Simone Capital will, among other things, provide the Company with consulting and marketing services consisting of non-deal or deal roadshows, coordinating introductory meetings and presentations with potential investors, daily outreach to the investment community, phone, email and social media marketing campaigns, webinars and capital markets advisory services (the ‘ Simone Services ‘). The Simone Services will be provided by Simone Capital over a term beginning on May 5, 2025 and remain in effect for 180 days or until the Consulting Agreement is terminated. The Consulting Agreement may be terminated: (i) immediately by the Company if Simone Capital does not fulfill or perform the Simone Services outlined in the Consulting Agreement, and (ii) by either party upon 15 days’ advance written notice to the other party during the contract term.

In consideration of the Simone Services, and pursuant to the terms and conditions of the Consulting Agreement, the Company has agreed to pay Simone Capital a fee of C$10,000 per month (plus applicable taxes) for the Simone Services, which will be paid using the Company’s available working capital.

The Simone Services will be rendered primarily online through a variety of news and investment community communications channels. Anthony Simone, the President of Simone Capital – with at head office located at Suite 201, 907 Alness St, North York, ON, M3J 2J1 – will be involved in conducting the Simone Services. Simone Capital and Mr. Simone do not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.

The terms and conditions of the Consulting Agreement remain subject to approval of the TSX Venture Exchange.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company’s flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.

SAGA also holds additional exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s plans and objectives in respect of the terms and conditions of the Offering, the gross proceeds of the Offering, the use of proceeds from the Offering , the receipt of the Machai Services and Simone Services, and the terms of the Marketing Agreement and the Consulting Agreement. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the structure of the Offering, the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Company’s final prospectus in Manitoba and amended and restated final prospectus for British Columbia, Alberta and Ontario dated August 30, 2024, filed under its SEDAR+ profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable securities law.

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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Empire Metals Limited to Present at the Metals & Mining Virtual Investor Conference May 7th

Empire Metals Limited (OTCQB: EPMLF, AIM: EEE), based in London, UK, and Perth, Australia, and focused on the Pitfield Project, the largest titanium discovery globally, today announced that Shaun Bunn, Managing Director, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on May 7 th .

DATE : May 7 th
TIME: 11:30 AM ET
LINK: REGISTER HERE

Shaun Bunn, MD, will be presenting and Empire’s Head of Corporate Development, Arabella Burwell, will be available for 1×1 meetings: May 7, 12 and 13

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com .

Recent Company Highlights

  • Confirmation of widespread and continuous, high-grade titanium dioxide (‘TiO 2 ‘) mineralization within the in-situ weathered cap at Pitfield, extending from surface to depths of over 50 meters.
  • Broad, continuous, high-grade zones identified in every hole of drilling program, with an average weathered interval grade of 5.77% TiO 2 .
  • Preliminary test work delivered a high-purity TiO 2 product, which assayed at 91.6% TiO 2 .
  • The TiO 2 product under development at Pitfield is entirely free of any deleterious impurities and is suitable for high-quality titanium sponge metal or high-grade titanium dioxide pigment production.

About Empire Metals Limited

Empire Metals is an exploration and resource development company with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.

The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO 2 ) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, bedded TiO 2 mineralization, each being over 7km in strike length.

An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tons with a grade range of 4.5 to 5.5% TiO 2 . Included within the total Exploration Target* is a subset that covers the weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tons with a grade range of 4.8 to 5.9% TiO 2 .

The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.

Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realize the full value potential of this exceptional deposit.

The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.

*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

About Virtual Investor Conferences ®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access.  Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

CONTACTS:
Empire Metals Limited
Arabella Burwell
Corporate Development
+44 (0) 20 4583 1440
aburwell@empiremetals.co.uk

Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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