Sponsored by First Lithium

Over 1,000 still missing from Maui fire

Hawaii Governor Josh Green has provided an update on the ongoing search and rescue efforts in the aftermath of the devastating wildfires that swept through Maui County. As the search operations persist, more than 1,000 people remain unaccounted for, emphasizing the gravity of the situation.

“More than 1,000 are unaccounted for, about 1,050. It will take several weeks still. Some of the challenges are going to be extraordinary. As you reported, 85 percent of the land of the impact zone has been covered now by what amounts to an army of search and rescue teams and 41 dogs,” Green said in an interview on CBS News’s “Face the Nation.”

The search and rescue teams, comprising a dedicated force of both personnel and specially trained canines, have covered an impressive 85 percent of the affected land area. This significant coverage, however, leaves the remaining 15 percent as a challenging frontier that may require several more weeks to navigate effectively.

You can read more on the matter here.

What’s going on?

• Hawaii Governor On Maui Fire: “More Than 1,000 Are Unaccounted For” (theDeepDive)

• Canada Sees Wildfires Consume Six Times More Land Than Average (theDeepDive)

• Moon landing anticipation builds for India after Russia's crash (Reuters)

• Agency Calls For OpenAI Bankruptcy By 2024 – Due To Trademark Intentions (theDeepDive)

• George Soros to Shut Down Most EU Operations, Focus Liberal Causes on China Instead (theDeepDive)

• Canada PM Trudeau blasts Meta for blocking news during wildfires (Reuters)

• New York City Unveils Plan to Convert Vacant Offices into Housing Units (theDeepDive)

• Montana AG asks court to reject TikTok challenge to state ban (Reuters)

What’s the latest?

• Hilary Hits Cali: Tropical Storm Hilary, the first to hit Los Angeles in decades, brought floods to Southern California. Governor Newsom declared a state of emergency due to flash flood warnings. Mountain and desert areas experienced heavy rain, with concerns about floods and landslides. Evacuations, transportation disruptions, and school closures occurred. The storm prompted evacuations, disrupted transportation, and led to school closures.

• Kelowna Fires: Wildfires continue to wreak havoc in British Columbia, displacing tens of thousands and causing property losses. While progress has been made in controlling some fires, such as around Lake Okanagan, challenges persist as fires merge and evacuation orders remain in place. The fires have caused destruction in various communities, with the extent of the damage still uncertain.

• US Shutdown Risks: Goldman Sachs foresees a brief economic setback followed by recovery if the federal government experiences a shutdown after appropriations expire on September 30. Congress's lack of consensus on spending bills raises shutdown chances. A projected 0.2% weekly GDP decline during a shutdown is predicted, with recovery in the following quarter.

• India Looks To Beat Russia: India's space agency has released images from its Chandrayaan-3 spacecraft, which is set to attempt a landing on the moon's south pole. The mission aims to explore shadowed craters with potential water ice resources. Chandrayaan-3's landing is scheduled for August 23, as it competes with Russia's recent lunar lander failure.

• Montreal Policy Fails: Despite implementing the Bylaw for a Diverse Metropolis, Montreal hasn't seen the promised construction of 600 social housing units per year. The bylaw requires developers to include such units in projects or pay fines. Out of 150 new projects since April 2021, creating 7,100 housing units, none have become affordable housing. Developers instead have elected to pay fines, totaling $24.5 million to date.

Michael Oher calls out “The Blind Side”

The stock market and stuff

• Thailand’s Pheu Thai Party Proposes Digital Wallet, To Start With 10,000-Baht Handout (theDeepDive)

• Why PayPal's stablecoin is likely to succeed where Facebook's Libra failed (Reuters)

• Wells Fargo defeats shareholder lawsuit over fake job interviews (Reuters)

In the juniors

• Alpha Lithium Files Technical Report Outlining 70% Indicated Resource Improvement (theDeepDive)

• Mullen Automotive Enters Production With Class 3 EV Truck (theDeepDive)

• Hawaiian Electric Plunges Following Maui Fire Class Action Lawsuit (theDeepDive)

• AAMC: The Short But Revealing Altisource Asset Management Q2 2023 Earnings Call (theDeepDive)

FULL DISCLOSURE: First Lithium Minerals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Lithium Minerals. The author has been compensated to cover First Lithium Minerals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.