What Did Crude Oil – Platinum Link Tell Us Last Week?

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62721.html
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CROP Infrastructure JV Partner “Xhemplar Italia” Increases Production to 25 acres, A 100% Increase In Their Previously Announced Capacity

CROP Infrastructure Corp. (CSE:CROP, OTC:CRXPF) was spotlighted on a FinancialBuzz.com News Commentary in light of the recent nationwide legalization of cannabis for recreational use in Canada on June 19th, 2018.

The article talks about a significant increase in medical and recreational cannabis product sales, a 50% increase compared to 2017. The industry expects to surpass the USD 20 Billion mark by 2022, a 200% increase from 2017.

The article further highlights CROP Infrastructure’s recent breaking news about its 30% owned Italy Joint Venture partner “Xhemplar Italia” that has planted 25 acres or 1,089,000 square feet of high CBD “Cannabis Light” in North Eastern Italy. “This represents over a 100% increase on the previously announced capacity announced in press release dated June 27th 2018.”

CROP Infrastructure Director & CEO Michael Yorke states: “The company is extremely encouraged by the fast pace with which the team at XHemplar has commenced production in Italy. CROPs portfolio of cannabis infrastructure assets now includes cultivation properties in CaliforniaWashington StateNevadaItaly and joint ventures on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 15 Cannabis brands and also has US and Italian distribution rights to a line of over 55 cannabis topical products. Management will continue to aggressively pursue new world-wide opportunities and expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions.”

To read the full article, click here.

Click here to connect with CROP Infrastructure Corp. (CSE:CROP, OTC:CRXPF) for an Investor Presentation. 

The post CROP Infrastructure JV Partner “Xhemplar Italia” Increases Production to 25 acres, A 100% Increase In Their Previously Announced Capacity appeared first on Investing News Network.

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Gold And The Elusive Chase For Profits

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62718.html
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Constantine Reports First Assay Drill Results from Palmer Project

Constantine Metal Resources (TSXV:CEM) has reported the first round of assay results for a 10,000-meter drill program currently underway at its joint-venture Palmer project in Alaska.

As quoted in the press release:

Wide intervals of silver-gold-zinc-lead-barite mineralization have been intersected in the first two drill holes located 150 meters along strike to the southeast from the AG Zone discovery, increasing the total strike length to 350 meters.

Highlights are as follows:

CMR18-109

  • 4.8 meters grading 436 grams per tonne silver, 1.3 grams per tonne gold, 3.6 percent zinc, 1.6 percent lead, and
  • 12.5 meters grading 217 grams per tonne silver, 1.8 grams per tonne gold, 5.2 percent zinc, 0.7 percent lead

CMR18-110

  • 43.3 meters grading 143 grams per tonne silver, 0.5 grams per tonne gold, 6.5 percent zinc, 2.5 percent lead

Includes 28.8 meters grading 141 grams per tonne silver, 0.5 grams per tonne gold, 9.0 percent zinc, 3.5 percent lead

Garfield MacVeigh, president, commented:

“This is an exceptional start to our 2018 drill program at Palmer. The intersections are major step-outs to our 2017 AG Zone discovery and confirm significant size potential.  We are particularly pleased with the very strong silver and gold contribution to the base metal values and the substantial widths.”

Click here to read the full press release from Constantine Metal Resources (TSXV:CEM).

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Crypto Daily News: EOS’s Block.one Gets Funding from PayPal and Bitmain Execs; Boeing Tests Blockchain

Crypto daily news

In today’s edition of Crypto Daily News, we will cover Block.one receiving funding from top execs at PayPal and Bitmain, IBM teaming up with Columbia to launch a Blockchain Research Center, and the airplane maker, Boeing, using blockchain technology.

Crypto Daily News: June 17th, 2018 Block.one Gets Funding

EOS developer Block.one has secured investments from the crypto-mining billionaire Jihan Wu of Bitmain, and the billionaire PayPal co-founder Peter Thiel. Block.one made the official announcement via a press release on its website yesterday.

Block.one’s CEO, Brendan Blumer, made a statement about the investments on the …

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Look at numbers, listen to Stuppler; what do you get?

As I did my morning check of the Kitco website, I had to remove my glasses before I believed I was seeing the price of silver correctly.

It was $ 15.66 an ounce.

I think I was expecting to see something like $ 15.86.

I am at the age where I never know just exactly where my eyes will be able to focus.

Once I realized what the price was, I went to the U.S. Mint’s website to see how sales of silver American Eagles were doing as we pass the midpoint of the month.

Sales stand at 390,000 pieces.

By itself, this number is nothing to write home about.

However, June’s total for the full month was 435,000.

We are almost there.

May’s total was 380,000.

We have beaten that.

We are still a long way from the 915,000 total of April, but it is easy to envision Eagle buyers taking us there from the present sales position.

There are two weeks to go before July comes to an end.

Are we at the turning point? Are buyers of physical silver bullion coins deciding that it is time to put their toes back in the water?

Markets normally fluctuate. Buyers run hot. Buyers run cold.

They have been decidedly cold for most of this year.

The July heat wave might be warming up more than just the outside temperature.

I like to look at the numbers to see if I can make out any patterns.

But why take my word for it?

Every bullion coin buyer must make his own determination.

One week ago, Barry Stuppler declared “We have seen the low for gold.”

It was a bold call.

Why should we take notice?

The veteran Woodland Hills, Calif., dealer is the president of the Accredited Precious Metals Dealers,  which is a division of the Professional Numismatists Guild. 

He is also a former president of the NLG.

As he explained, “In my 50-year history of monitoring precious metal prices, one thing has happened again and again. Before any major gold/silver rally, there was a clean out, and normally it’s quick.

“A quick, sharp drop in any precious metal price allows the professionals to watch the small speculators being stopped out of their leveraged commodity contracts. It’s called ‘driving out the weak hands’ because margin calls cause small investors to sell and take a loss, rather than investing more money,” Stuppler said.

Is this a good entry point for gold coin buyers?

He said, “A benefit of the strong U.S. dollar-for-gold investors is the low premium on pre-1934 U.S. and foreign gold coins. It’s the lowest it’s been in 20 years.”

He ought to know.

Where does this leave us?

Buyers are nibbling again with their silver Eagle purchases.

A prominent coin dealer says gold has hit its lows.

We know that the two metals generally move in tandem.

It adds up to one remaining question.

Will the move higher from here be a quick bounce in the price of precious metals, or will we spend time building a solid base for a new bull market?

I think I will bet on base building.

Platinum is my reason.

The price of platinum is extremely weak .

It is $ 815 a troy ounce.

Global trade war worries have clobbered the price.

The case here says tariffs on imported cars will cut car sales.

Platinum is used in the catalytic converters.

Fewer car sales mean lower platinum demand and, hence, a lower price.

Until the car front of the trade war is sorted out, platinum will see its potential buyers extremely worried.

Gold and silver buyers can’t help but watch the situation with platinum.

I think this reinforces the case for base building.

One last comment: In the time I have been writing this, silver has slid another nine cents to $ 15.57.

The good thing about it is I did not have to remove my glasses to see it on the Kitco website.

Buzz blogger Dave Harper won the Numismatic Literary Guild Award for Best Blog for the third time in 2017 . He is editor of the weekly newspaper “Numismatic News.”

 

Buzz – Numismatic News

Savannah Reports Extended Lithium Discovery in Portugal

Savannah Resources (LSE:SAV,SWB:SAV) has released further encouraging results from the ongoing reverse circulation (‘RC’) and diamond drill (‘DD’) programme at the Mina do Barroso lithium project, located in Portugal. A total of 181 holes for 15,345m have now been drilled to date across three primary targets of Grandao, Reservatorio and NOA.

Savannah is a diversified resources group with a portfolio of energy metals projects including lithium; copper and gold.

As quoted from the press release:

Highlights

• Ongoing RC and DD at both the Grandao and Reservatorio deposits has intersected lithium mineralization over significant widths

• Drilling continues to expand the boundaries of the known mineralized pegmatites demonstrating the project’s potential for further increases in the existing 14Mt at 1.1% Li₂O mineral resource estimate

• Key results include:

Grandao and Grandao Extended

– 25m at 1.56 percent Li2O from 56m in 18GRARC52 diamond tail

– 22m at 1.4 percent  Li2O from 54m in 18GRARC51 diamond tail

– 15m at 1.32 percent Li2O from 96m in 18GRARC79

– 25m at 1.05 percent Li2O from 13m in 18GRARC93

– 25m at 1.02 percent Li2O from 21m in 18GRARC99

– 49m at 1.09 percent Li2O from 35m in 18GRARC100

– 20m at 1.42 percent Li2O from 125m in 18GRARC103

– 22m at 1.05 percent Li2O from 19m in 18GRADD01

– 23.7m at 0.99 percent Li2O from 17.2m in 18GRADD02

– 48.9m at 1.33 percent Li2O from 6.9m and 21m at 1.22 percent Li2O from 129m in 18GRADD006

Reservatorio

– 32m at 1.18 percent Li2O from 36m in 18RESDD02

– Diamond drilling was completed primarily to obtain lithium bearing pegmatite for the metallurgical test work programme

• Phase 3 of the metallurgical test work programme continues to progress well

• A second diamond drill rig is due to arrive on site shortly to commence geotechnical drilling to support the fast-tracked feasibility study

“The drill programme continues to deliver encouraging results, which will go towards further increasing what is already the largest spodumene lithium mineral resource Estimate in Western Europe. We are upping the drilling tempo with the addition of a third rig and drilling, which commenced a little under one year ago, now totals over 15km in length and constitutes one of the most intensive drill programmes undertaken in Portugal in recent years,”Savannah’s CEO, David Archer said.

Click here to read the full press release

Lithium in 2018

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Panoramic Reports Savannah Project Restart

Panoramic Resources (ASX:PAN) has announced the Savannah nickelcopper-cobalt project will reopen following the company and Savannah Nickel Mines executing a credit approved term sheet with Macquarie Bank Limited (ASX:MQG) for project finance facilities.

Panoramic is a Western Australian mining company formed in 2001 for the purpose of developing the Savannah nickel project in the East Kimberley.

As quoted from the press release:

The facilities to be provided consist of a secured project loan of up to AU$ 40 million and nickel and copper hedging lines. The combination of the equity raised in February 2018 via the 1 for 7 entitlement offer and the macquarie project loan of up to AU$ 40 million means the Savannah project restart is fully funded. The finalization of the facilities is a significant milestone for the Savannah project and was the remaining condition precedent to the board making the decision to restart the project.

Savannah Project Restart

The company is delighted to announce that the Board has made the formal decision to restart operations at the Savannah project. As a result of this decision, the company has commenced phase two of pre-production activities and is targeting to export the first shipment of Savannah nickel concentrate to China early in the March quarter of 2019.

Once commissioned, the Savannah project will ramp up to full production over 15 months to a forecast life-of-mine (LOM) average annual production rate of 10,800t Ni, 6,100t Cu and 800t Co metal contained in concentrate.

Click here to read the full press release

Cobalt Stocks Have Grown 100% in the Past Year

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TGOD Prepares for Legal Battle with City of Hamilton

One of the most recent cannabis producers to join the Toronto Stock Exchange (TSX) is currently facing opposition into its expansion plans from a small community in Ontario.

A request for the expansion of a greenhouse facility for the growth of medical cannabis by The Green Organic Dutchman (TSX:TGOD) was shut down during a Hamilton, Ontario city council meeting on Friday (July 13).

The final vote was 9-4 against the motion, which had received support from the local city planner and had also been recommended for approval by city staff.

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According to a report from The Hamilton Spectator, several opposing city councillors noted the city had just voted to confirm the limit for medical cannabis facilities allowed would be 24,000 square feet.

The company was looking to develop a 150,000 square foot greenhouse production facility and is now facing the possibility of only developing a 24,000 square foot growing and research facility.

The producer issued a statement in response to the result on Saturday (July 14) announcing it would challenge the decision with the Local Planning Appeal Tribunal (LPAT). TGOD indicated the proposed phase two represented a 6.5 percent of the total planned production.

Brian Athaide, CEO of TGOD said the company is proud of its roots in Hamilton and hopes to have a larger presence in the community.

The proposed appeal is speculated to take anywhere between months to over year. In light of this, TGOD warned if a resolution isn’t obtained in a “timely fashion” it will move the planned expansion of the Hamilton facility to the neighbouring province of Quebec. The company indicated it still had approval for its 24,000 square foot facility.

TGOD has a 1,107,000 square foot site in Valleyfield, currently under development. In its statement the company made a point of highlighting its production capabilities and the tech planned for this new facility in Quebec.

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The cannabis producer signed a strategic partnership with Aurora Cannabis (TSX:ACB), which involved support for the construction of the Quebec site. Aurora even participated in the initial public offering (IPO) of TGOD in May.

Cam Battley, chief corporate officer for Aurora told the Financial Post the ruling did not concern them “overly much.” Battley, who also serves as a board member for TGOD’s board of directors explained the Ancaster facility is not “the big one.”

The decision created concern of legal fees to some city councillors with one even telling The Hamilton Spectator the city would most likely lose the appeal. TGOD said it is confident its appeal to the LPAT will succeed.

Public market reacts to vote against TGOD

News from the decision broke on Friday and, as such, the stock for TGOD began to drop. After reaching a day low price of C$ 5.66, stock for the company rallied closing the day at a price of C$ 6.04 representing an actual gain of 0.17 percent for the day.

During Monday’s (July 16) trading session the company’s share price has dropped 4.97 percent and reach a price point of C$ 5.75 per share to finish the day.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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(Only) a Near-term Stock Market Top?

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62708.html
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Strike Bites Mount Polloy’s Copper Output

The owners of the Mount Polloy copper mine in the Cariboo region of British Columbia have reported a 31.8-percent fall in copper production this quarter as a result of ongoing strike action.

In May, Imperial Metals (TSX:III) reported that its unionized employees at the mine, best known for the 2014 mine disaster, had gone on strike after the company and the union came to what Imperial described as “an impasse” on a collective agreement.

Strike action has now been ongoing for almost seven weeks, since May 23, and according to Imperial is the sole reason behind a fall in production.

“Processing operations have been continued with staff operating the mill, but mining operations have been suspended and only low grade stockpiles have been processed,” said the company in a release, which explained that grades were significantly lower.

Copper grades were 0.18 percent in Q2 2018, down 0.212 percent year-on-year. Meanwhile, gold was 0.261 grams per tonne (g/t) in Q2 2018, down from 0.334 g/t in Q2 2017.

“Metal production was 3.82 million pounds copper and 9,110 ounces gold, a decrease of 31.8 percent and 34.7 percent respectively from the 5.6 million pounds copper and 13,958 ounces gold produced in the June 2017 quarter. Mill throughput averaged 17,395 tonnes per calendar day, down about 11 percent from the comparable 2017 quarter.”

The company said that discussions with unionized employees are due to resume this week.

Speaking with local media, United Steelworkers Local 1-2017 business agent Dan Wil said that this will be the second round of meetings, “we met with the company a few weeks ago in Vancouver, but nothing developed, but they are going to meet again tomorrow and Wednesday (July 18).”

Wil also said morale was ok given that striking workers had been attending picket lines at access points to the mine for seven weeks. “It wears on people.”

Imperial Metal’s other mine, the Red Chris mine in northern British Columbia also reported a fall in copper production in Q2, with operations hampered by a mechanical failure that resulted in 6 days of mill downtime in May. However, Imperial reported gold production was up.

“Red Chris second quarter metal production was 11.51 million pounds copper and 8,614 ounces gold, a decrease of 25.4 percent and an increase of 39.9 percent respectively from 15.42 million pounds copper and 6,159 ounces gold produced in the June 2017 quarter.”

The company also reported progress on drilling at Red Chris reviewing the “potential for utilizing block cave methods to mine the deep mineralization”, with one of five geotechnical holes completed, and the others deferred to a later date.

On the Toronto Stock Exchange Imperial Metals was trading down 4.52 percent on Monday, at C$ 1.69.

Fortunes for the company’s value have been mixed since the strike action was reported, with the current share price 7.14 percent below what it was trading on May 23, however during June, Imperial reached C$ 2.25.

Don’t forget to follow us @INN_Resource for real-time updates!

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

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Gold Bears Are Roaring Louder

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Top-gaining Cannabis Stocks of Q2 2018

With the second quarter of 2018 officially wrapped up and as cannabis investors prepare up for the challenges the second half of 2018 has in store for them, the Investing News Network (INN) counts the top performing stocks of Q2.

As explained in INN’s Q2 2018 cannabis update, the industry has continued a path of maturity in the public markets and de-risking thanks to the entrance of large Canadian banks.

During the quarter the industry started to recover from a dip seen throughout the market due to a market correction.

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“We had a significant dip down from January to April, I would say, and then again we are starting to move back up as we get closer to legalization,” Yasmin Gordon, senior investment advisor with Canaccord Genuity told INN.

Here’s a look at the top gainers per Canadian exchange during Q2. For a look into the top performing stocks in Q1 2018, click here to read our first quarter stock list.

All the figures and percent changes were obtained with Google Finance and Yahoo Finance for Q2. Stock prices and market caps are current as of market closure on Friday (July 13).

CSE

iAnthus Capital Holdings (CSE:IAN)

Q2 percentage increase: 107.84 percent; market cap: $ 317.55 million; stock price C$ 6.57

iAnthus is a cannabis operator focussed in the US market. The company has assets and interests in legal states like Florida, Massachusetts, New York and Colorado.

During the second quarter of 2018, iAnthus reported its Q1 results which resulted in US$ 3.2 million of revenue for the company’s operations.

Choom Holdings (CSE:CHOO)

Q2 percentage increase: 40.66 percent; market cap: $ 159.506 million; stock price C$ 1.38

Choom is a cannabis company looking to offer a branding-heavy effort in the cannabis space. The company is a retail operator as it looks to open, where the provinces may allow it, cannabis dispensaries offering legal adult-use product.

During the last quarter the company announced it had secured 10 new retail locations for cannabis shops in Alberta and B.C.

CannaRoyalty (CSE:CRZ)

Q2 percentage increase: 27.18 percent; market cap: $ 250.76 million; stock price C$ 4.86

CannaRoyalty is another US focused operator raising capital in Canada through the Canadian Securities Exchanges (CSE). CannaRoyalty’s main operations are in California, a state in which it had announced revenue of US$ 840,000 during the month of April.

The company has continued to pursue businesses and operations in the legal states it operates in to add to its portfolio of cannabis products. During Q2 the company announced its investee company, Anandia Labs, would be getting acquired by Aurora Cannabis (TSX:ACB)

TSXV

WeedMD (TSXV:WMD)

Q2 percentage increase: 44.93 percent; market cap: $ 159.87 million; stock price C$ 1.59

WeedMD has been a medically focused LP of cannabis, but as Canada moves closer to the legalization of recreational cannabis, the company has detailed more of its approach into that market.

During the second quarter the company signed a deal to merge with Hiku Brands (CSE:HIKU) and complement each other’s approach to the cannabis space. The merger proposal was terminated after Canopy Growth (TSX:WEED; NYSE:CGC) offered to acquire Hiku outright in July. WeedMD obtained a C$ 10 million termination fee.

In June the company signed a supplier agreement with Shoppers Drug Mart for medical cannabis to be sold by the retailer. The company also signed onto a joint venture with Phivida Holdings (CSE:VIDA) to develop infused beverages with cannabis.

Organigram Holdings (TSXV:OGI)

Q2 percentage increase: 35.88 percent; market cap: $ 620.59 million; stock price C$ 4.82

Organigram is a medical cannabis producer seeking to expand its business as legalization comes to Canada. The company unveiled its branding efforts of the recreational space during this past quarter.

Organigram also has an interest for the international market as it has started expanding into Australia and Germany. During the quarter the company obtained a permit for the export of medical cannabis into Australia.

ICC Labs (TSXV:ICC)

Q2 percentage increase: 10 percent; market cap: $ 183.12 million; stock price C$ 1.42

ICC Labs is a company raising capital in Canada while its operations are in South America. The company holds interests in Uruguay and expanded its presence in Colombia throughout the second quarter of 2018.

The company is also seeking to export medical cannabis into Germany thanks to an initial deal with CanPharma GmbH, a licensed importer and wholesaler in the European country.

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TSX

MedReleaf (TSX:LEAF)

Q2 percentage increase: 59.42 percent; market cap: $ 2.87 billion; stock price C$ 29.56

MedReleaf is a cannabis licensed producer with a focus into the medical market. This year the company unveiled its recreational brands meant to target the adult-use consumers of cannabis.

MedReleaf stunned the public market after it was first rumored the company was seeking a potential buyer. Finally in May the company confirmed an agreement with Aurora Cannabis, in which Aurora would buy the producer and its shares.

Canopy Growth (TSX:WEED)

Q2 percentage increase: 20.02 percent; market cap: $ 7.89 billion; stock price C$ 37.77

Canopy remained on its path of dominance throughout the public markets with a constant flow of deals and collaborations within the industry in Q2.

During the second quarter of 2018, the company became the first cannabis company to list its stock on the New York Stock Exchange under the ticker symbol “CGC.” Since it started trading on the NYSE, Canopy’s share price has increased 11.16 percent to reach a price of US$ 29.59.

Hydropothecary (TSX:HEXO)

Q2 percentage increase: 37.31 percent; market cap: $ 843.99 million; stock price C$ 4.66

Hydropothecary is one of the latest cannabis LPs to join the Toronto Stock Exchange (TSX), having upgraded to the premier stock exchange from the TSX Venture Exchange in June.

The company also revealed its intentions to introduce a recreational brand named HEXO while Hydropothecary will remain active for its medical cannabis market brand.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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BlackRock News Gives Bitcoin (BTC) and Cryptocurrency Market a Boost

BlackRock exploring crypto

BlackRock exploring crypto: The CEO of the world’s largest exchange-traded fund (ETF) provider, BlackRock, just announced that his company has assembled a group to look into cryptocurrencies, such as Bitcoin (BTC).

BlackRock Exploring Crypto

Larry Fink told Reuters that he does not see “massive investor demand” currently, but his company will continue to look into cryptocurrency regardless.

Fink didn’t have much to add to his statement, but any news regarding BlackRock potentially making moves into the cryptocurrency space is good news. As of June 30th, the company has managed nearly $ 6.4 trillion in assets. …

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Emerging Markets Could Be Starting A Relief Rally

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62710.html
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Blockchain Update: Q2 2018 in Review

Much like the first quarter of the year, Q2 2018 posed some challenges in the blockchain and cryptocurrency spaces. That being said, the growth the overarching industry has seen is second-to-none and is indicative that it is here to stay for the long run.

In terms of the cryptocurrencies, bitcoin dipped to a 2018 low towards the end of the quarter, dropping to a staggering US$ 5,826.41 on June 24. In a previous interview with the Investing News Network (INN), David Drake–founder and chairman of LDJ Capital–said that with the rise in over-the-counter trading desks it’s not surprising that bitcoin has been down in 2018.

“[Over-the-counter desks] can easily manipulate the [bitcoin] price and push it down,” Drake told INN and explained that there are now over 100 OTC desks when there used to be only six major desks.

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Bitcoin ended the quarter at roughly US$ 6,376.62 on June 30, an overall 7.9 percent decrease from US$ 6,924.49 at the end of Q1 on March 31, 2018.

Looking at the blockchain market, big tech companies making investments in the space was a key highlight during the quarter, further solidifying the significance blockchain will have in our every day lives.

As such, with Q2 officially over and Q3 2018 well under way, here INN is taking a look back at some of the biggest trends that happened during the quarter, and what investors can expect for the rest of the year.

Blockchain Q2 2018 update: cryptocurrencies slide

As noted above, cryptocurrencies struggled throughout much of the quarter, with bitcoin itself having its worst Q2 to date dipping below the US $ 6,000 threshold “as the whole crypto market took a beating,” Abdul Wahid, principal analyst at BIS Research told INN.

“I expected a bull market, that obviously didn’t happen,” David Mondrus, CEO of Trive told INN. “Crypto[s] follow a pattern, and the pattern is that sometimes things are up and sometimes things are down. When things are down, it gets really quiet.”

Similarly, Reality Shares CEO Eric Ervin said that while there was a lot of volatility during the quarter on the cryptocurrency side, it appears to be stabilizing so far in Q3.

“[Cryptos] were down quite a bit off the highs back in the January [and] February timeframe,” Ervin told INN. “In any given day, [cryptos] are up or down by $ 200-$ 300.”

Meanwhile the overall market cap for cryptocurrencies also took a massive hit during the quarter despite an initial increase in the early goings. According to data from Coinmarketcap.com, the overall market cap for cryptos reached a quarterly high just over US$ 470 billion on May 5, but by June 30 that number had dropped off significantly to US$ 255 billion.

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Blockchain Q2 2018 update: EOS dominates

Cryptocurrency EOS made headlines towards the end of the quarter when it officially entered the cryptocurrency market with its smashing US$ 4 billion initial coin offering (ICO) on June 1–without even having a working product, which Mondrus said is something that certainly stood out to him.

According to CNBC, EOS’ ICO, which was done by a company called Block.one, surpassed even the largest initial public offerings in 2018, but noted that the product still wasn’t live at the time. The project spent a year fundraising to develop open source software, and launched on June 10.

By June 15, the EOS blockchain had officially gone live, according to Coindesk, after obtaining more than 150 million votes required to “determine the individuals or entities that will maintain the distributed network, the world’s fifth largest by total value.”

“It’s very, very early days of it,” Ervin told INN. “This is a huge project.”

CNBC explained that the EOS system “will support more efficient operations for ‘decentralized applications’ than existing platforms such as ethereum.”

“[There will[ probably [be] a lot of good things that come out of EOS,” Ervin added.

Blockchain Q2 2018 update: tech giants in focus

A number of tech mammoths made their intentions clear in the blockchain sector with top names making investments in the blockchain industry.

Google (NASDAQ:GOOGL) invested roughly US$ 550 million into JD.com (NASDAQ:JD) as part of a strategic partnership, the company announced on June 18, with an aim of exploring the “creation of next generation retail infrastructure solutions.”

Ervin told INN that the reason for all the logistics and supply chain power is because of JD.com’s blockchain initiatives. JD.com, which is an e-commerce company based in China, launched its accelerator, AI Catapult, to develop artificial intelligence and blockchain technologies in February.

“[It’s] notable when you see a company like Google investing in a publicly traded company because this publicly traded company has such a valuable supply chain management system that has built up blockchain,” Ervin said.

Other tech giants like IBM (NYSE:IBM) also made headlines, albeit shortly after Q2, when it received an AUD$ 1 billion contract to develop a blockchain solution for the Australian government. 

Meanwhile Microsoft (NASDAQ:MSFT) released the public preview of the Azure Blockchain Workbench on May 7, which “makes it easy to integrate blockchain workflows with existing systems.”

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Blockchain Q2 2018 update: what’s ahead

According to Wahid, blockchain is “poised to wave through essentially every major industry” while having a significant impact on “nearly every corporation” over the coming years.

“Blockchain is likely to show greater levels of integration and implementation across all industry verticals, including healthcare, energy, financial, gaming and security,” Wahid said.

Wahid explained that regulatory experimentation with blockchain will “even in the presence of high administrative scrutiny across the world,” with banks and financial services continue to heavily invest in projects and start-ups that are working on blockchain-based solutions.

Blockchain in the cybersecurity industry “will be the next big thing in [the] security industry” thanks to a rise in security breaches like Equifax, signifying that these corporations “cannot protect current identity data systems” and require a more protected blockchain-based identity approach.

Overall, Wahid said that moving ahead into the rest of the year, the blockchain industry will see the development of regulatory framework circling blockchain-based solutions and its infrastructure begin to unfold.

“We will continue to see more enterprise businesses getting into blockchain and using blockchain,” Ervin said. “[Companies] who have been in [blockchain] for awhile will start to see more revenue announcements.”

In terms of industries adapting blockchain, Wahid said that banking, finance, and security are areas that are “early adopters” of the technology and will benefit significantly from blockchain in the future.

“Blockchain technologies are really in its initial stage and only just getting started,” Wahid explained.

When taking cryptocurrencies into consideration, making predictions on their pricing is somewhat difficult given the volatile year it’s had to date.

“The market is just so weird at the moment,” Mondrus said, stating that when it comes to making predictions, he’ll “just have to wait” before doing so.

With bitcoin stabilizing above US$ 6,000 as of the time of this writing, Ervin said it’s possible that it will start trending higher towards year-end.

“I don’t think there’s going to be another huge [dip],” Ervin said. “It’s such a volatile asset class, so who knows what’s going to happen in the next couple of years.”

Don’t forget to follow us @INN_Technology for real-time news updates!

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

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence. 

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Crypto Daily News: Charles Hoskinson Wins Crypto World Cup & American Express Explores Blockchain

Crypto daily news

In today’s edition of Crypto Daily News, we’ll cover the winner of the Crypto World Cup, BlackRock eyeing Bitcoin, and the details of American Express’s blockchain exploration.

Charles Hoskinson/France Wins it All

This Saturday, France duked it out against Croatia in the World Cup, and France won 4-2. Here at CryptoCurrencyNews.com, we held our own ‘Crypto World Cup’ in which we randomly paired cryptocurrency celebrities with countries competing in the global tournament.

The Crypto World Cup ended up being a phenomenal event, and we’d like to congratulate Charles Hoskinson/France for coming out on top! …

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Stock Market Uptrend Continues, But…

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