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Russian uranium ban hits a snag

The Senate and House have successfully passed the National Defense Authorization Act (NDAA), paving the way for the Nuclear Fuel Security Act to reach the desk of US President Joe Biden. Simultaneously, the House unanimously approved the Russian Uranium Ban, only to face an unexpected hurdle in the Senate.

Amir Adnani, Founder/CEO of Uranium Energy, expressed enthusiasm about the developments, stating, “Historic week for the American #uranium fuel cycle! Senate & House have passed the NDAA which sends the Nuclear Fuel Security Act to @POTUS for signature into law.”

However, the Russian Uranium Ban hit a snag in the Senate when Senator Ted Cruz placed a hold on the bill for reasons unrelated to the issue. Adnani acknowledged the setback, noting, “While on hold, the ban bill is still pending in the Senate who are set to return on Monday, providing additional time to resolve the issue. If unsuccessful, it simply rolls into the new year with overwhelming bipartisan support.”

You can read more on the matter here.

What’s going on?

• Health Canada Paid $682K to Twitter Influencers for COVID-19 Vaccination Push –Report (theDeepDive)

• House Passes Defense Policy Bill, Leaving Out Abortion, Transgender Provisions (WSJ)

• Ro Khanna Proposes Sweeping Political Reform and Anti-Corruption Plan (theDeepDive)

• Venezuela and Guyana pledge not to use force in bitter dispute over oil-rich territory (CNBC)

• Canada’s Housing Starts Show Mixed Signals In November Amid Market Uncertainties (theDeepDive)

• Kid Rock says he is done boycotting Bud Light (CTV)

• Mercedes-Benz Is Asking Its Customers To Invest In Unsecured Bond Notes (theDeepDive)

• Ex-Trump Aide Mark Meadows Wants Georgia Election Case Moved to Federal Court (BNN)

• Elon Musk Is Building A University In Texas (theDeepDive)

• Well-Deserved? Matt Gaetz Receives ‘Surprise’ Award at A GOP Christmas Party (theDeepDive)

• Elon Musk must testify in SEC probe of Twitter takeover, according to tentative ruling (FOX)

• People Are Overdosing On Ozempic and Its Off-Brand Versions (theDeepDive)

What’s the latest?

• Google Fee To Prop Up Print, Digital Media: Nearly two-thirds of the $100 million annual compensation Google must pay to Canadian news organizations under the Online News Act will go to print and digital media. The remaining third will be divided between CBC/Radio-Canada and private broadcasters. CBC/Radio-Canada's portion will have a cap, details of which will be provided by the Department of Canadian Heritage.

• Another Unregistered Refinery: Alberta is facing calls for an audit of its regulatory framework following the issuance of enforcement orders to two refineries, Sundre and Slave Lake, for operating without provincial approval. The issue is attributed to historic changes in Alberta's regulatory framework, which led to a lack of appropriate oversight for these sites.

• Bird Flu Returns: British Columbia has experienced over 50 avian flu cases in poultry farms since October, including 47 commercial and five small-flock farms, but the rate of infection is slowing with the end of the fall migration of wild birds. The Canadian Food Inspection Agency requires the culling of all birds in infected flocks, leading to around five million birds being destroyed since April 2022.

• Red Sea Risks: Maersk, a Danish shipping company, has announced the suspension of all container shipments through the Red Sea due to recent security threats, including a near-miss missile incident involving their vessel Maersk Gibraltar. The company has directed its vessels to halt their journeys through the Bab al-Mandab Strait and will reroute them around Africa.

• Altman Pushes Worldcoin: Sam Altman, CEO of OpenAI, is again pushing the cryptocurrency project Worldcoin, a venture aiming to establish a global identity and financial network. Worldcoin has garnered attention for its unique method of registering users: over 2.6 million people have had their irises scanned in exchange for a digital ID and free cryptocurrency. This initiative comes amid efforts to raise $50 million in funding by selling the project's crypto tokens at a discount, as reported by The Block.

Newfoundland’s copper potential

The stock market and stuff

• General Motors to Lay Off 1,300 Workers, Shake Up Leadership in Cruise (theDeepDive)

• Costco tops profit estimates, doles out $6.7B in special dividends (SA)

• Ford’s Farley Takes A Swipe At GM’s CarPlay Excuses (theDeepDive)

• Citigroup closes municipal underwriting and market-making unit, memo shows (CNBC)

• Meta's Threads now available in Europe for nearly half a billion users (FOX)

In the juniors

• Neotech Metals Adds Second Rare Earth Project To Portfolio (theDeepDive)

• Palantir receives $115M contract from US Army (SA)

• Alpha Lithium Shareholders Approve Privatization Plan, To Delist December 20 (theDeepDive)

• 23andMe Scrambles to Change Terms to Avoid Lawsuits Following Massive Security Breach (theDeepDive)

FULL DISCLOSURE: ATHA Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of ATHA Energy. The author has been compensated to cover ATHA Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.