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How is Snowline Gold bucking the trend?

Smallcap Steve asked us to take a look at Snowline Gold Corp. (TSXV: SGD), a Vancouver-based exploration company working a gold project in the Yukon Territory.

We were surprised to learn how well it was going. This isn’t generally a very good market for exploration companies, or gold companies in general, but Snowline is managing to go about its business, get its work in, and advance its projects while preserving its market value and maintaining a strong equity with a reasonable upside.

The core asset at Snowline is the Rogue property, a complex that the company is drilling on several fronts in a chase for enough Reduced Intrusion Related Gold System (RIRGS) associated mineralization to amount to a worthwhile deposit.

You can read more on the matter here.

What’s going on?

• Kevin O’Leary and Grant Cardone Opt Out Of New York After Donald Trump’s $355 Million Fraud Verdict (theDeepDive)

• US Jobless Claims Decline to the Lowest Level in a Month (Bloomberg)

• The Age of Private Lunar Landers Has Begun (theDeepDive)

• X takes down accounts that media say are linked to India farmers protests (Reuters)

• Chrystia Freeland Raises Federal Borrowing Limit To Half A Trillion (theDeepDive)

• Rivian is laying off 10% of its salaried workers amid challenges (CNN)

• Is Russia Launching A Nuke Into Space This Year? (theDeepDive)

• Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief (CNBC)

• Saskatchewan Sees Inflation Drop Following Carbon Tax Removal on Home Heating (theDeepDive)

• Bridge snaps in half in deadly cargo ship crash (CNN)

• America's oldest gun maker is closing its doors, leaving state after 200 years (FOX)

What’s the latest?

• Retail Sales: In December, Canada's retail sales saw a notable increase of 0.9%, reaching $67.3 billion, with significant contributions from new car dealers leading the growth. Despite this uptick, Statistics Canada's preliminary estimates suggest a 0.4% decline in retail sales for January 2024. The sales in December experienced a boost in five out of nine subsectors, particularly in the motor vehicle and parts dealers subsector, which saw a 1.9% rise.

• Port Upgrades: The Canadian federal and Manitoba provincial governments have pledged a combined $60 million to enhance the railway infrastructure in northern Manitoba and support the redevelopment of Canada's sole rail-accessible deepwater port in Churchill. This investment, equally shared with $30 million from each level of government, aims to complete capital upgrades on the Hudson Bay Railway, ensuring its reliability and addressing long-standing service disruptions.

• US Jobless Claims Fall: The latest data from the Labor Department reveals a decrease in new unemployment claims, with figures falling to a seasonally adjusted 201,000 in the week ending February 17, down from the expected 218,000. This unexpected drop indicates the labor market's continued strength and resilience, as initial claims for state unemployment benefits declined by 12,000.

• Gemini Problems: Google has temporarily halted its AI-generated image tool within the Gemini AI models due to concerns over inaccuracies in historical depictions. This decision follows user feedback on social media pointing out errors in the AI's renderings of historical images. Despite the setback, Google is focused on enhancing the model's accuracy, particularly in handling historical contexts with more nuance, as stated by Jack Krawczyk, Senior Director of Product for Gemini at Google.

• Tax Evasion: The IRS Commissioner, Danny Werfel, highlighted in a CNBC interview that millionaires and billionaires are bypassing over $150 billion in taxes annually, contributing to the increase in government deficits and undermining the fairness of the tax system. With new funding from Congress, the IRS is intensifying its efforts to clamp down on tax evasion among the wealthy, large companies, and partnerships, focusing on those with the most intricate tax returns.

Early stage of a uranium bull market

The stock market and stuff

• Loblaw’s Dropped $1.7 Billion On Buybacks In 2023 While Fighting Against Grocery Code Of Conduct (theDeepDive)

• Thousands of AT&T Customers Lose Cell Service (WSJ)

• Google pauses Gemini AI image generator after it created inaccurate historical pictures (CNBC)

• Japan’s stock market cheers first record high in 34 years (CNN)

• NVIDIA Shares Surge On Google Team Up, 265% Revenue Jump (theDeepDive)

In the juniors

• Surge Battery Metals Reports Maiden Resource of 4.67 Mt Lithium Carbonate Equivalent At 2,839 PPM (theDeepDive)

• Canada Nickel Hits 356.9 Metres Of 0.22% Nickel, Confirming New Discovery At Mann (theDeepDive)

• How is Snowline Gold Bucking the Trend? (theDeepDive)

• Equinox Gold Guides To Cost Increases For 2024, Including Up To $1,740 An Ounce AISC (theDeepDive)

FULL DISCLOSURE: Anfield Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Anfield Energy. The author has been compensated to cover Anfield Energy 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.