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The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed down last Friday (July 28) at 20,520.71.

The index’s biggest decline came on Thursday (July 27), when it sank as low as 20,387.89. On Wednesday (July 26), the US Federal Reserve increased interest rates by a quarter point, sending them to their highest level in 22 years.

Gold rose above US$1,970 per ounce following the news, but was hovering around US$1,955 by the time markets closed on Friday. Silver also fell sharply on Friday and ended the five day trading period at about US$24.25 per ounce.

Despite these price swings, some resource juniors listed on the TSX saw their share prices go up last week. Here’s a look at the five biggest gainers and the factors that moved their share prices during the period.

1. Verde Agritech (TSX:NPK)

Press ReleasesCompany Profile

Leading this week’s top TSX stocks list is Verde Agritech, whose share price rose 28.46 percent to end the week at C$3.34. The company is developing its Cerrado Verde project in Brazil, and says it is the source of a potassium-rich deposit from which it intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.

Last Thursday, Verde Agritech said it is in advanced negotiations to sell carbon credits to major international corporations that are established purchasers of permanent carbon offsets.

2. Northern Dynasty Minerals (TSX:NDM)

Press ReleasesCompany Profile

Northern Dynasty Minerals is focused on developing the Pebble project in Alaska, where, according to the company, one of the world’s largest undeveloped copper-gold-molybdenum-silver resources is located.

On Wednesday, the company announced that the State of Alaska has filed a motion in the US Supreme Court, arguing that the US Environmental Protection Agency’s veto of the Pebble project breaches a contract involving Alaska and the US. Northern Dynasty also says that it violates the federal statutory recognition and implementation of that land exchange.

Following the news, shares of Northern Dynasty increased 25.37 percent to end the week at C$0.42.

3. Condor Energies (TSX:CDR)

Press ReleasesCompany Profile

Condor Energies is an internationally focused energy company with producing gas assets, an ongoing initiative to construct and operate Central Asia’s first liquefied natural gas facility and another initiative focused on gas field redevelopment.

The company did not release any news last week, but its share price jumped 24.17 percent to finish at C$1.49.

4. Excelsior Mining (TSX:MIN)

Press ReleasesCompany Profile

Excelsior Mining is a copper-producing company that owns and operates the Gunnison copper project in Cochise County, Arizona.

Shares of Excelsior Mining rose 15.22 percent last week to hit C$0.26, although the company didn’t release fresh news.

5. Forza Petroleum (TSX:FORZ)

Last but not least this week is Forza Petroleum, an international oil exploration, development and production company. Forza Petroleum has a 65 percent participating interest in and operates the Hawler license area in Iraq’s Kurdistan region.

Last Tuesday (July 25), the company published its Q2 financial and operational results. Shares of Forza Petroleum increased 8.33 percent on the news to end the five day period at C$0.13.

FAQs for TSX stocks

How big is the TSX?

The TSX is Canada’s biggest stock exchange, and as of June 16, 2023, it had 1,789 listed stocks for a total market value of more than C$3.792 trillion. The TSX is often ranked as one of the 10 largest stock exchanges in the world.

Why do companies list on the TSX?

Listing on one of the world’s largest stock exchanges provides companies with greater market exposure, the ability to raise capital and an opportunity to build a strong financial reputation. In its technical guide to listing, the TSX states the exchange “offers companies a dynamic market to raise capital, enhanced liquidity, specialized indices, visibility and analyst coverage.’

What sectors are included in the S&P/TSX Composite Index?

The S&P/TSX Composite Index tracks more than 230 constituents across a wide range of sectors, of which the top five by weight are: financials (30.1 percent), energy (16.6 percent), industrials (14 percent), information technology (7.7 percent) and materials (11.9 percent).

What was the highest point for the TSX?

The TSX hit a record high of 22,213.07 points in April 2022. While the exchange was at 19,970 points as of June 16, 2023, there are high expectations that the TSX could move past the 22,000 level by the end of 2023 to set new record highs.

Data for 5 Top Weekly TSX Performers articles is retrieved each Friday after market close using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

Article by Priscila Barrera; FAQs by Melissa Pistilli.

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

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

This post appeared first on investingnews.com

The S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up last week, increasing 1.75 percent to close at 625.47.

The US Federal Reserve was in focus during the period as its latest two day meeting took place. The central bank hiked interest rates by 25 basis points to a range of 5.25 to 5.5 percent, the highest level seen in 22 years. Although the gold price rose as high as US$1,980 per ounce after the Fed’s move was announced, it closed last week just below US$1,955.

Against that backdrop, a variety of TSXV-listed resource stocks made moves over the last five days. Read on to find out which companies rose the most during the period and what was affecting their share prices.

1. Juggernaut Exploration (TSXV:JUGR)

Weekly gain: 35.48 percent; market cap: C$13.43 million; current share price: C$0.21

Juggernaut Exploration is an exploration company with three projects in the Golden Triangle of BC, Canada: the Midas gold property, the Bingo gold property and the Empire polymetallic property.

On July 18, Juggernaut announced the beginning of a 4,500 meter drill campaign at Midas. Additionally, President and CEO Dan Stuart said exploration at drilling at Bingo and Empire were imminent. Grab samples from outcropping at Empire previously returned grades of up to 36,875 grams per metric ton (g/t) silver and 16.4 g/t gold.

While the company didn’t release news last week, its share price climbed throughout the period to reach a weekly peak of C$0.225 during trading hours on Friday (July 28).

2. Visionary Metals (TSXV:VIZ)

Company Profile

Weekly gain: 35.29 percent; market cap: C$15.78 million; current share price: C$0.115

Visionary Metals changed its name from Visionary Gold on July 10 to reflect its new focus on battery metals following a nickel-cobalt discovery at its King Solomon project in Wyoming, US.

Visionary’s most recent news came on July 19, when it announced a Q4 4,500 meter drilling program at King Solomon to expand on the nickel sulfide discovery, which the company said may be “the first new nickel sulfide discovery in the continental western United States since the early 1940s.” It also staked new claims at King Solomon and the nearby Tin Cup prospect.

The company’s share price climbed to a high of C$0.145 during trading last Thursday (July 27).

3. Omineca Mining and Metals (TSXV:OMM)

Company Profile

Weekly gain: 33.33 percent; market cap: C$14.24 million; current share price: C$0.08

Gold company Omineca Mining and Metals is exploring and mining underground placer gold at its Wingdam project in BC’s Lightning Creek area alongside its joint venture partner Hamilton Gold Royalties. Wingdam encompasses over 600 square kilometers and more than 15 linear kilometers of placer claims.

Underground mine haulage drifts are currently being developed to allow for access to the placer gold deposits. In March, Hamilton Gold Royalties and mining contractor Fortis Mining Engineering and Manufacturing “successfully entered the placer gold bearing paleochannel at the Wingdam underground project.”

The company’s most recent news came on July 21, when Omineca provided an update on the work at Wingdam, including the successful extension of the haulage drift and completion of an access drift. Additionally, Hamilton processed waste rock material from the haulage drifts and recovered 11 ounces of coarse placer gold flakes and a 1.13 ounce gold nugget.

Omineca’s share price rose to a weekly high of C$0.085 last Wednesday (July 26).

4. Founders Metals (TSXV:FDR)

Company Profile

Weekly gain: 33.33 percent; market cap: C$13.61 million; current share price: C$0.06

Founders Metals is focused on its gold projects in South America’s Guiana Shield, particularly its Antino project in Suriname. The company is currently in the middle of its 2023 exploration program at Antino, which is aimed at expanding high-grade historical gold zones within the Main Antino shear corridor and nearby high-priority targets.

Last Thursday, Founders released “exceptional” early results from its drilling at Antino’s Froyo zone. The assays confirm high-grade gold mineralization at Froyo with highlights of 29.9 g/t gold over 3 meters within 19.22 g/t gold over 12 meters. The company’s share price jumped following the news, peaking at C$0.38 early last Friday.

5. Solstice Gold (TSXV:SGC)

Company Profile

Weekly gain: 28.57 percent; market cap: C$10.26 million; current share price: C$0.045

Solstice Gold has a portfolio of projects in Canada, including the Red Lake Extension gold project, the Atikokan gold project and the Stewart Lake lithium project in Ontario, and the Qaiqtuq gold project in Nunavut. The company established Stewart Lake in February through staking and acquiring a 187 square kilometer land position, which it believes is prospective for lithium and rare earths.

Solstice announced a flow-through share and unit financing on July 18 for C$420,000, the majority of which it plans to use for grassroots lithium exploration at Stewart Lake. The company’s share price rose throughout last week to peak at C$0.055 during trading on both Thursday and Friday.

FAQs for TSXV stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of April 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Data for 5 Top Weekly TSXV Performers articles is retrieved each Friday after market close using TradingView’s stock screener. Only companies with market capitalizations greater than C$10 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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

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

This post appeared first on investingnews.com

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the ‘Company’) is pleased to announce that it has acquired by staking seven new prospective uranium exploration claims in Northern Saskatchewan, increasing Skyharbour’s total land package that it has ownership interest in to 518,302 ha (1,215,941 acres) across 24 projects. These 100% owned claims add an additional 13,945 ha to Skyharbour’s existing holdings in and around the Athabasca Basin, which is host to the highest-grade uranium deposits in the world and is consistently ranked as a top mining jurisdiction by the Fraser Institute. As the Company remains focused on its co-flagship Russell Lake and Moore projects, these new properties will become a part of Skyharbour’s prospect generator business as the Company will seek strategic partners to advance these assets.

Skyharbour’s New Uranium Project Portfolio Map:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2B_20230727.jpg

List of New Claims :

CBX Project – additional five new contiguous claims totalling 6,804 ha linking the Company’s former CBX and Snow projects Karin Project – one additional claim totalling 5,882 ha 914W Project – new project totalling 1,260 ha

Jordan Trimble, President and CEO of Skyharbour Resources, states ‘We continue to add to our dominant uranium project portfolio in the Athabasca Basin with this recent staking while advancing our core projects through ongoing drilling and exploration. These new mineral claims bolster existing properties and provide additional ground to option or joint-venture out to new partner companies as a part of our prospect generator business.’

Summary of Recently Staked Properties:

CBX Project:

The CBX property has been recently expanded through staking to include five additional claims adjoining the previously staked CBX and Snow properties, which have been combined to include a total of seven claims covering 8,777 ha. The new claims lie approximately 6.5 km to 25 km north to northeast of the Eagle Point uranium mine and cover the northern shore of Wollaston Lake including parts of Cunning Bay. Outcrop exposure on the property is poor, but historical mapping and drilling shows that the newly expanded CBX project is underlain by a mixture of Wollaston Supergroup metasedimentary gneisses, Hudsonian intrusives, and Archean felsic gneisses of the Western Wollaston Domain. Similar lithologies host uranium mineralization at the Rabbit Lake operation, including the Eagle Point deposit, and other uranium deposits in the Athabasca Basin and surrounding regions.

CBX Project Map:
https://skyharbourltd.com/_resources/maps/Sky_CBXShoe20230727_.jpg

Like the previously staked CBX claims, these new claims have seen a variety of historical exploration conducted mainly between 1968-1981, including airborne and ground EM, magnetics, and radiometrics surveys, marine seismic surveys, prospecting, geological mapping, and geochemical, with some additional work in 1993. There was also a limited amount of historic drilling in 1979-1980, including drill hole CBA-1 on the Cunning West Grid in the southeastern end of the property, and two diamond drill holes, WN-14 and WN-15, drilled in 1980 in the north-central part of the property on the Ross Channel Grid. All three drillholes were shallow (

914 W Project :

The 914W project consists of one claim covering 1,260 ha approximately 48 km southwest of Cameco’s Key Lake Operation. Highway 914 runs through the western edge of the project, providing excellent access for exploration. Historical geological mapping of the property and surrounding area has shown that the project is predominantly underlain by prospective Wollaston Supergroup pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, which host significant unconformity-related uranium mineralization further to the north in the Athabasca Basin as well as pegmatite-hosted uranium mineralization elsewhere in the Wollaston Domain.

914W, 914, 914N, and Elevator Projects Map:
https://skyharbourltd.com/_resources/maps/Sky_914_Elevator_20230727.jpg

Despite the project’s proximity to Highway 914 and prospective geology, the project has seen limited exploration work. The earliest work on the 914W property included airborne EM and magnetic surveys and ground geological reconnaissance in 1968-1970, lake water and sediment sampling in 1976, ground VLF-EM, magnetic, and radiometric surveys, geological mapping, trenching, as well as sampling on the project and surrounding areas. Immediately to the north of the 914W property, prospecting led to the discovery of the Scurry Rainbow Zone E (SMDI1961) and the Don Lake Trenches (SMDI 1983), where up to 1,288 ppm U was encountered in drill hole ML-1 (SMDI1961) in a pyroxene-rich unit, and surface prospecting revealed up to 0.64% U 3 O 8 in a trench at Don Lake Zone E (SMDI 1983). More recently, the project has seen airborne geophysical coverage by helicopter-borne VTEM (southern half) in 2005 and Tempest TDEM (northern half) in 2007, with prospecting, geological mapping, rock/sediment sampling and lake sediment sampling occurring on the project and surrounding areas in 2005-2007. However, much of the most recent exploration work was completed on areas outside of the extents of the 914W project and the project remains underexplored and prospective for unconformity-related and pegmatite-hosted uranium and REE’s.

Karin Project:

One additional claim was added to Skyharbour’s Karin Project during this latest round of staking, extending the project to cover six claims totalling 24,265 ha, approximately 21 km to 33 km east of Highway 914 and 20 km southeast of Cameco’s Key Lake operation. This new claim, totalling 5,882 ha, is adjacent to Skyharbour’s Foster project. Like the remainder of the Karin project, it is underlain by Wollaston Group metasedimentary gneisses, mostly psammitic to meta-arkosic in composition but with localized prospective pelitic to psammopelitic gneisses in fold noses, and it is prospective for both unconformity-related and pegmatite-hosted uranium mineralization.

Karin Project Map:
https://skyharbourltd.com/_resources/maps/Sky_Karin_20230727.jpg

The Karin project, including the new claim, had seen some exploration in the late 1960’s to early 1980’s, including airborne EM, magnetics and radiometrics, radon surveys, prospecting, geological mapping, lake water and sediment sampling, as well as a limited amount of diamond drilling. Two drill holes were attempted on the new claim added to the Karin project, however both attempts were lost during casing. Five drill holes that were successfully drilled on the remainder of the Karin project intersected Wollaston Supergroup meta-arkose and semipelitic to pelitic gneisses, amphibolite and pegmatite to granodiorite, along with localized hematite, chlorite, epidote, and/or goethite alteration. One of these drillholes, 78-1, intersected a weakly radioactive pegmatite which returned 0.025% U3O8 over 0.45 m at a depth of 72.85 m (AF 74H03-0036). The drilling on the Karin project was targeting some of the stronger EM conductors and radon anomalies on the property, however several other historical EM anomalies did not receive follow-up work. Given that this work took place prior to the development of modern geophysics and uranium exploration models, it is likely that additional prospective targets remain untested on the Karin project. The only recent exploration on the project consisted of limited prospecting in 2008, which led to the discovery of a pegmatite outcrop that returned 181 ppm U, 205 ppm Nb, and 39 ppm Ta (SMDI 5179). The Karin project has otherwise been unexplored since the 1980’s and remains prospective for both intrusive-type and unconformity-related uranium deposits and intrusive-related REE’s.

Marketing Agreement with Outside the Box Capital :

Skyharbour also announced that it has entered into a six month marketing and consulting contract with Toronto-based marketing firm Outside The Box Capital Inc. (‘OTBC’). OTBC specializes in various social media platforms and digital marketing strategies, and will be able to facilitate greater awareness and widespread dissemination of the Company’s news. In connection with the agreement set to commence in August, 2023, and run for six months, the Company will pay Outside The Box Capital Inc. a total cash fee of CAD $100,000 plus applicable taxes. Outside The Box Capital Inc. owns no securities of the Company as of the date hereof and is arm’s length to the Company. The engagement of OTBC remains subject to TSX Venture Exchange approval.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.

*SMDI refers to the Saskatchewan Mineral Deposits Index and ‘AF’ refers to Saskatchewan Mineral Assessment File.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with twenty-four projects, ten of which are drill-ready, covering over 518,000 hectares (over 1.2 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2A_20230727.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.

Lithium in particular has caught the attention of CEO Elon Musk. Back in 2020, the battery metal had a spotlight moment at Tesla’s Battery Day, when Musk shared that the company had bought tenements in the US state of Nevada, and was looking for a new way to produce lithium from clay — a process yet to be proven at commercial scale.

Since then, lithium prices have hit all-time highs and, despite retreating in 2023, have stayed elevated. Prices for other key battery metals have also increased, leading to higher costs for batteries themselves. According to Benchmark Mineral Intelligence, raw materials currently make up about 80 percent of battery costs, up from around 40 percent back in 2015.

“Price of lithium has gone to insane levels,” Musk tweeted back in April 2022. “There is no shortage of the element itself, as lithium is almost everywhere on Earth, but the pace of extraction/refinement is slow.”

Most lithium mining happens in Australia from hard-rock sources and in Chile from brines. But lithium refining is dominated by China, which currently accounts for more than 75 percent of global lithium processing capacity.

“I’d like to once again urge entrepreneurs to enter the lithium-refining business. The mining is relatively easy, the refining is much harder,” Musk said during a July 2022 earnings call for Tesla, adding that there are software-like margins to be made in the lithium-processing business. “You can’t lose — it’s a license to print money.”

Do Tesla batteries have lithium and cobalt?

As mentioned, it wasn’t just lithium that saw prices climb in 2021 — cobalt doubled in price that same year, and although it has declined since then, the battery metal remains essential for EV batteries. Most cobalt mining takes place in the Democratic Republic of Congo, which is often associated with child labor and human rights abuses, fueling concerns over long-term supply.

Tesla is known for using nickel-cobalt-aluminum (NCA) cathodes developed by Japanese company Panasonic (OTC Pink:PCRFF,TSE:6752). This type of cathode has higher energy density and is a low-cobalt option, but has been less adopted by the industry compared to the widely used nickel-cobalt-manganese (NCM) cathodes. Aside from that, South Korea’s LG Energy Solutions (KRX:373220) is working on supplying Tesla with batteries using nickel-cobalt-manganese-aluminum cathodes.

That said, not all Tesla’s batteries contain cobalt. In 2021, Tesla said that for its standard-range vehicles it would be changing to lithium-iron-phosphate (LFP) cathodes, which are cobalt- and nickel-free. At the time, the company was already making vehicles with LFP chemistry at its factory in Shanghai, which supplies markets in China, the Asia-Pacific region and Europe.

In April 2023, Tesla announced that it plans to use this type of cathode chemistry for its short-range heavy electric trucks, which it calls ‘semi light.’ The company is also looking to use LFP batteries in its mid-sized vehicles.

How much lithium is in a Tesla battery?

How much lithium do Tesla batteries actually contain? For those interested in the EV space, it’s a fair question to ask.

The answer is that even though it might not be a huge amount compared to other raw materials, lithium can become a hurdle for any EV maker if there’s not enough — or not enough of the right quality.

Back in 2016, Musk said batteries don’t require as much lithium as they do nickel or graphite — he described lithium as ‘the salt in your salad’ and said it is about 2 percent of the cell mass. While he underestimated that number, as the chart below shows, the metal still only makes up about a 10th of a given battery.

Metal content of battery chemistries by weight.

Chart via BloombergNEF.

But a key factor to remember is volume — given the amount of batteries Tesla needs to meet its ambitious goals, it could hit a bottleneck if it can’t secure a steady supply of raw materials. Of course, this is true not just for Tesla, but for every carmaker producing EVs today and setting targets for decades to come.

For that reason, demand for lithium is expected to soar in the coming years. By 2030, Benchmark Mineral Intelligence forecasts that lithium demand will reach 2.4 million metric tons (MT) of lithium carbonate equivalent — much higher than the forecast 900,000 MT of demand expected in 2023.

Which lithium companies supply Tesla?

It’s important to understand that there is not only one company that supplies lithium to Tesla.

At the end of 2021, Tesla inked a fresh three year lithium supply deal with top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460). The Chinese company will provide products to Tesla for three years starting in 2022. Major miners Livent (NYSE:LTHM) and Albemarle (NYSE:ALB) also have supply contracts in place with the EV maker, and China’s Sichuan Yahua Industrial Group (SZSE:002497) agreed to supply battery-grade lithium hydroxide to Tesla back in 2020 for a period of five years.

The company also holds deals with junior miners for production that is yet to come on stream. Liontown Resources (ASX:LTR,OTC Pink:LINRF) is set to supply Tesla with lithium spodumene concentrate from its AU$473 million Kathleen Valley project. The deal is for an initial five year period set to begin in 2024, conditional on Liontown starting commercial production by 2025.

Core Lithium (ASX:CXO,OTC Pink:CXOXF) was previously in talks with Tesla to supply the car company with lithium from its Finniss project, but negotiations collapsed in October 2022. The lithium firm remains open to further dialogue with Tesla.

In January 2023, Tesla amended its agreement with Piedmont Lithium (ASX:PLL,NASDAQ:PLL), which is now set to supply the US automaker with spodumene concentrate from the past-producing North American Lithium operation — a project Piedmont is developing with Sayona Mining (ASX:SYA,OTCQB:SYAXF). Under the amended agreement, the ASX-listed company will deliver approximately 125,000 MT of spodumene concentrate to Tesla beginning in the second half of 2023 through to the end of 2025.

Even though Tesla has secured lithium from all these companies, the EV supply chain is a bit more complex than buying lithium directly from miners. Tesla also works with battery makers, such as Panasonic and CATL (SZSE:300750), which themselves work with other chemical companies that secure their own lithium deals.

What company makes Tesla’s batteries?

Tesla is currently working with Japanese company Panasonic, its longtime partner, as well as South Korea’s LG Energy Solutions, the second largest battery supplier in the world. They supply the EV maker with cells containing nickel and cobalt.

China’s CATL has been supplying LFP batteries to Tesla for cars made at its Shanghai plant since 2020. It’s also been reported that BYD Company (OTC Pink:BYDDF,SZSE:002594) is supplying Tesla with the Blade battery — a less bulky LFP battery — which the car manufacturer has used in some of its models in Europe.

Are Tesla’s batteries expensive because of lithium costs?

Battery costs have been rising on the back of inflation, price hikes for raw materials and the ongoing Russia-Ukraine war, among other factors. As mentioned, raw materials, including lithium, currently make up about 80 percent of battery costs, up from around 40 percent back in 2015, according to information from Benchmark Mineral Intelligence.

Lithium prices are at historic highs, and it’s not only spot prices — lithium producers have said contract prices are also up, with some moving from fixed to more variable agreements.

Is there enough lithium for electric cars?

There’s plenty of lithium in the Earth’s crust, but extracting, processing and qualifying it for its use in EVs is a different story. Lithium demand from the EV sector is rising, a trend that is expected to continue throughout the decade. But supply is not keeping up, with many analysts and even lithium producers forecasting a tight market ahead.

At the moment, there aren’t enough raw materials in the pipeline to take the majority of EV makers beyond 2030, as per Benchmark Mineral Intelligence.

Will Tesla buy a lithium mine?

For carmakers, securing lithium supply to meet their electrification goals is becoming a challenge, which is why the question of whether they will become miners in the future continues to come up.

As mentioned, back in 2020, Musk surprised the lithium industry by saying Tesla had acquired the rights to lithium-rich clay deposits in Nevada; it said it had found a way to mine the material in a sustainable and simple way — using table salt and water.

But mining lithium is not easy, and despite speculation, it’s hard to imagine an automaker being involved in it, SQM’s (NYSE:SQM) Felipe Smith said. “You have to build a learning curve — the resources are all different, there are many challenges in terms of technology — to reach a consistent quality at a reasonable cost,” he noted. “So it’s difficult to see that an original equipment manufacturer (OEM), which has a completely different focus, will really engage into these challenges of producing.”

Even so, OEMs are coming to the realization that they might need to build up EV supply chains from scratch after the capital markets’ failure to step up, Benchmark Mineral Intelligence’s Simon Moores believes. Furthermore, automotive OEMs that are making EVs will in effect have to become miners.

“I don’t mean actual miners, but they are going to have to start buying 25 percent of these mines if they want to guarantee supply — paper contracts won’t be enough,” he said.

Which company is the top lithium producer?

When looking at the world’s lithium producers by market cap, the top three are: US-based Albemarle, which has lithium brine operations in the US and Chile and hard-rock operations in Australia; Chile’s SQM, which has its main operations in the Salar de Atacama in Chile; and Chinese company Ganfeng, which has resources around the world.

Where is Tesla’s lithium refinery?

Even though Tesla does not mine lithium at the moment, it recently broke ground on its Texas lithium refinery. Musk has said the facility could produce enough lithium for about 1 million EVs by 2025. The company is expecting to finish building the site by next year, reaching full production a year after. Tesla’s lithium refinery capacity is yet to be announced.

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

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As lithium demand continues to rise, it’s useful for investors to gain an understanding of the different lithium deposit types at play.

Lithium is mined from three different deposit types: lithium brine deposits, pegmatite lithium deposits and sedimentary lithium deposits. Each comes with different project requirements, extraction methods and processing times.

Brine deposits, for example, are the most common, accounting for more than half of the world’s lithium resources, but may require longer processing periods. The majority of global lithium production comes from continental lithium brine deposits.

The best example of a continental lithium brine deposit is the 3,000 square kilometer Salar de Atacama in Chile, home to one of the world’s richest deposits of high-grade lithium. You can read more about this deposit type by clicking here.

Pegmatite lithium deposits and sedimentary lithium deposits are also important to know about, and the article below outlines their key characteristics. Scroll on to learn more about their importance today.

What are pegmatite lithium deposits?

Pegmatite is a coarse-grained intrusive igneous rock formed from crystallized magma below the Earth’s crust. Pegmatite lithium deposits, also known as hard-rock lithium deposits, can contain extractable amounts of a number of elements, including lithium, tin, tantalum and niobium.

Lithium in pegmatites is most commonly found in the mineral spodumene, but also may be present in other minerals such as petalite, lepidolite, amblygonite and eucryptite.

Australia, the US, Canada, Ireland, Finland and the Democratic Republic of Congo are known to host pegmatite lithium deposits. The top-producing spodumene pegmatite operation, known as the Greenbushes mine, is located in Australia, and it is owned by Talison Lithium. Talison is controlled 51 percent by China’s Tianqi Lithium (SZSE:002466) and 49 percent by Albemarle (NYSE:ALB).

Also in Australia is the Mount Cattlin spodumene mine, an open-pit mine that rests on a flat-lying pegmatite orebody. Mount Cattlin was originally developed by Galaxy Resources, which merged with Argentina-based miner Orocobre in August 2021 to form a multinational mining corporation rebranded as Allkem (ASX:AKE,OTC Pink:OROCF).

In addition, Allkem holds the James Bay lithium pegmatite project in Quebec. As of December 2021, its mineral reserves were estimated at 37.2 million metric tons with an average grade of 1.3 percent lithium oxide.

Hard-rock ore containing lithium is extracted at open-pit or underground mines using conventional mining techniques. The ore is then processed and concentrated using a variety of methods prior to direct use or further processing into lithium compounds.

Extracting pegmatite lithium from hard-rock ore is expensive, meaning that such deposits are arguably at a disadvantage compared to brine deposits. However, pegmatite lithium deposits have considerably higher lithium concentrations than brines, so deposits with extremely high lithium values may still be economically viable. The production of other metals, such as tin and tantalum, can also help offset costs.

It is worth noting that hard-rock deposits are not subject to the sometimes 12 month long processing times currently seen at some brine deposits.

What are sedimentary lithium deposits?

Sedimentary rock deposits account for about 8 percent of known global lithium resources, and are found in clay deposits and lacustrine evaporites.

In clay deposits, lithium is found in a mineral group called smectites. The most common type of smectite is hectorite, which is rich in both magnesium and lithium. It gets its name from a deposit containing 0.7 percent lithium found in Hector, California.

Many companies are in the research and development phases for their clay deposits, but no companies currently produce lithium from them.

The most commonly known form of lithium-containing lacustrine deposit is found in the Jadar Valley in Serbia, for which the lithium- and boron-bearing mineral jadarite is named.

The Jadar deposit, owned by Rio Tinto (NYSE:RIO,LSE:RIO,ASX:RIO), reportedly contains more than 200 million metric tons of lithium. The company claims it is one of the largest lithium deposits worldwide, and the project is currently in the prefeasibility stage. While Rio Tinto had committed US$2.4 billion to developing the asset, the Serbian government denied its permit in late 2021 following significant citizen protests.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company or commodity mentioned in this article.

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After hitting all-time highs in 2022, lithium took a downward turn from November to May, when prices started to rebound. With prices now retreating again, many investors are wondering if it’s still a good time to buy lithium stocks.

Demand for lithium is expected to increase in the coming years as electric vehicle (EV) sales continue to beat forecasts to the upside in key markets. The energy storage sector is also a segment that could grow exponentially in the next decade.

Looking at 2023, lithium demand is forecast to increase by 28 percent year-on-year, with a further 24 percent increase year-on-year expected in 2024, according to Fastmarkets. By 2033, the firm anticipates lithium demand of around 3.5 million metric tons.

“Then we started this year with a bit of weakness in China with EV sales, but that’s come back as of May,” he said. “The economics of lithium are playing out as expected … we’ve come back to where I think is a fair position at the moment for the year.”

In terms of prices, Fastmarkets believes volatility will remain, which means lithium may move above and below the firm’s average annual forecast. Similarly, Chris Berry of House Mountain Partners said price volatility is likely to continue for the coming decade — not just for lithium, but for many other battery raw materials as well.

“That has implications, obviously, depending upon where you are in the supply chain — whether you are a miner, a cathode manufacturer or an original equipment manufacturer,” he said. “I think the market will ultimately dictate what is sustainable … I do think we’re very limited on the downside, the days of US$6,000 or US$10,000 (per metric ton) lithium are ancient history.”

When it comes to stocks, last year many lithium companies jumped on the back of favorable market conditions, with companies listed in Canada, the US and Australia seeing gains. But market uncertainty has been on the rise, hitting every sector.

Lithium equities are hypersensitive to the spot price, which at the end is noise and distraction, Tara Berrie of EV maker Rivian (NASDAQ:RIVN) said during a panel discussion at Fastmarkets’ recent Lithium Supply and Battery Raw Materials event.

“There will be a fundamental shortfall (in lithium) and (all type of) investment has to continue, otherwise any delays will extend project timelines that are massively long already,” said Berrie, who previously worked at Tesla (NASDAQ:TSLA), Allkem (ASX:AKE,OTC Pink:OROCF) and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO).

What factors should lithium investors consider in today’s market?

For Berry, cutting through the noise in the current environment is incredibly difficult. “That’s because if we’re sitting here today, and the lithium spot price is, let’s say US$41,000 to US$42,000, and contract prices are generally higher, when you think about those numbers and then you look at the entire lithium cost curve, literally every single project is economic,” he said. “So what you have to do is you have to weigh the distinct risks, the non-economic risks for specific projects.”

For his part, Hooper said investors still need to be very cognizant of global macro factors. “We get a little bit of a myopic view of our sector,’ he said, ‘and we’ve seen different headwinds — inflation, the Russia-Ukraine war, possible recession and so on — actually affect the lithium market when the fundamentals within the market have looked to be sound.”

He added that it is important to remember that lithium is not a commodity, but a specialty chemical.

“I think investors would do well to take money off the table when they’ve had substantial returns and look to reenter when shares have been beaten down,” he said. “I think to ‘buy and hold’ you need to be brave. It’s not to say you shouldn’t, it’s just that there are buying and selling opportunities given the world that we live in.”

For Howard Klein, Hooper’s partner at RK Equity, the lithium market is a stock-picking market right now.

Joe Lowry of Global Lithium also shared insight on how to cut through the noise when it comes to investing in lithium companies.

“I think the red flags are really, if you learn how to analyze this business, you see in the prefeasibility studies there’s always more optimism than is warranted. It’s endemic to the industry,” he said. “You need to look at the milestones and see when the first milestone slips; then you start looking at the next one and the next one.”

When it comes to investing in lithium stocks, Lowry said investors have to have the strength of their convictions.

“But I also think you have to adjust your thinking for circumstances,” he said. “Don’t get married to prejudices or assumptions that you have — be flexible and always go for quality.”

How to evaluate lithium projects?

When asked about how she chooses lithium projects, Rojas said she prefers brine projects due to her experience, but she is also interested in hard-rock assets.

Aside from type of deposit, she looks at grades above 500 milligrams per liter in brine with low impurities, and 1 percent in spodumene ore, ideally with known deposits in the vicinity.

“Going a step further, even when early, is important to understand what management’s preliminary plans for extraction are,” Rojas said. “Although evaporation ponds have been a workhorse and are commonly used, I’m excited to see what direct lithium extraction (DLE) can bring.”

There are some deal breakers for Rojas when assessing lithium projects.

“I prefer to stay away from low grades — although new technologies will close the gap soon, I believe, and there are alternatives such as resins and DLE variants, which potentially can make a big difference there, so I’m keeping an eye,” she said.

She also avoids OTC listings, and in terms of jurisdictions, Rojas said she stays away from anything outside of Australia, Argentina, Chile, Brazil, the US and Canada.

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

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Jamaica’s ‘Reggae Girlz’ are becoming accustomed to making history.

The team secured the country’s first ever Women’s World Cup point against France and then went one better by earning a first ever victory with a narrow 1-0 win over Panama.

If the team is to add another historic achievement to its resumé and reach the knockout stages of a World Cup – men’s or women’s – for the first time, it will need to avoid defeat against Brazil.

The team knows just a draw will be enough to progress to the round of 16 and will be boosted by the return of star striker Khadija Shaw, who was suspended for the win over Panama after picking up a late red card in the team’s opener.

Brazil, currently a point behind Jamaica, knows only a victory will suffice – As Canarinhas can technically still progress with a draw, but would simultaneously require the extraordinarily unlikely scenario of a Panama victory over France.

Brazil legend Marta, considered by most to be the greatest female footballer of all time, has only been used as a second-half substitute so far in Australia and New Zealand and it’s likely she will continue in that role moving forward.

Ary Borges, who scored a hat-trick for Brazil against Panama, is just one of a number of talented youngsters coming through the ranks that are tasked with a least partially filling Marta’s sizable shoes.

The 37-year-old is playing in her sixth and final World Cup and a major title with Brazil is the only accomplishment missing from her glittering career.

In Group F’s other match, France can secure top spot with a victory over already eliminated Panama.

Group G

Sweden is already through to the last 16 and only needs a draw against Argentina to guarantee top spot.

Italy will qualify if it beats South Africa or if it draws and Argentina draws or loses against Sweden.

Argentina and South Africa both need to win to stand any chance of reaching the knockout stages.

If they both win, three teams will be on four points and it will again come down to goal difference, then goals scored, then head-to-head.

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After the thrill of winning successive Women’s World Cup titles, the 2023 tournament – so far – has brought the US team very much down to earth with a bump.

Hearts must have been in the mouths of US fans during Tuesday’s tense 0-0 draw with Portugal as the four-time world champion came within inches of being knocked out of the tournament altogether.

Portugal was desperately unlucky not to engineer one of the great Women’s Cup shocks, notably when Ana Capeta’s shot deflected off the post in the last few minutes of the game.

For a team that has been so historically dominant at the Women’s World Cup, performances throughout the 2023 edition so far have been underwhelming for women’s soccer’s most dynastic team.

Their three matches at this tournament represents the US women’s worst group stage performance in World Cup history – and no team has ever won the competition having picked up so few points in the preliminary stage.

Goalscoring woes

Alex Morgan listed the lack of clinical finishing at the tournament as the main cause of the team’s woes.

“You know, I feel like it’s taking advantage of the chances that we have,” Morgan told reporters. “We created enough to put the ball in the back of the net.”

At the 2019 World Cup, the US scored 18 goals in its three group stage matches, compared to just four at this year’s edition, though 13 of them came in a famous win over Thailand. However, the goalless draw against Portugal marks the first time since 2015 that the team has failed to score in a World Cup game.

It is just the second time the US has failed to win its group – the other occasion being 2011, though they did progress to the final that year.

The USWNT had also never before failed to win at least two of its group games in any of its World Cup appearances.

However, this World Cup has arguably demonstrated a leveling up in the women’s game. True there have been some wide margins of victories – the Netherlands beat Vietnam 7-0 on Tuesday – but nothing to compare with Thailand’s humbling by the US four years ago.

Prior to Tuesday’s draw, the USWNT had a 10-0 winning record against Portugal, scoring 39 goals and conceding zero. In that context, it is easy to see the 0-0 draw as a disaster, but that would fail to take into account Portugal’s rapid progress that saw them hold England to a similarly stagnant draw and routing co-hosts New Zealand 5-0 in friendlies earlier this year.

Blending experience with potential

Four-time winners of the tournament, the USWNT arrived for their three Group E games in New Zealand looking to bring home the trophy for the third consecutive edition – something no team in either men’s or women’s football has achieved.

However, the squad perhaps does not possess the veneer of invincibility that characterized those squads.

It was defeated by Canada in the semifinals of the Tokyo Olympics in 2021 – having already been handily beaten 3-0 by Sweden earlier in the tournament. In October 2022, the team suffered back-to-back defeats to England and Spain in high-profile friendlies – marking the first time in over five years that had occurred.

While stalwarts of previous successes such as Megan Rapinoe and Morgan remain in the team, Andonovski has overseen something of a transitional period as a host of young talent looks to establish itself in the team. The US squad contains 14 World Cup debutants – blending them in seems to have taken a toll on the usual ruthless efficiency of the team.

It should also be remembered that the USWNT is missing a number of players due to injury: forwards Mallory Swanson, Christen Press and Tobin Heath, midfielders Sam Mewis and Catarina Macario, as well as defenders Becky Sauerbrunn and Abby Dahlkemper.

Doubt among the fans?

Known for their extravagant support of the normally all-conquering side, US women’s soccer fans appeared to demonstrate the same nerves that reverberated among the squad during the draw against Portugal in Auckland.

From the outset, the players were greeted by a relatively subdued fanbase with supporters arriving at the stadium much later in comparison to the matches against Vietnam and the Netherlands. Both of those games had seen fans streaming in more than an hour before kick-off – whereas empty seats remained plentiful at Tuesday’s decider right up until the start of the game.

Similarly, tension seemed to affect the vociferousness of the crowd. Compared to the constant cheering and chanting that accompanied the US draw with the Netherlands in Wellington, the loudest cheers against Portugal came when substitutes Rapinoe and Trinity Rodman entered the fray.

Criticism

Former US stars have been scathing in some of their analysis, most vocally Carli Lloyd, who said the team was “lucky not to be going home right now” following the “lackluster and uninspiring” performance against Portugal.

“There is a difference between being respectful to the fans and saying hello to your family, but to be dancing, to be smiling – I mean the player of the match was that post,” Lloyd said in response to footage of Rapinoe, Morgan and Crystal Dunn dancing before the Portugal match.

“To question the mentality of this team, to question the willingness to win, to compete, I think is insane,” Andonovksi said. “Everyone is entitled to their opinion and you know, they can say whatever they want, but I just know how this team feels,” he added.

Three-peat?

Amid the criticism it should be remembered that winning three championships in a row is extremely hard to do at the professional club level in any sport, let alone the World Cup in international soccer – no nation has ever won three consecutive World Cups in either the men’s or women’s game.

The biggest enemies of sustained success in sports are waning motivation and, most often, time. The amount of effort, skill and sustained passion it takes to keep up success over a long period of time is beyond difficult and the years between World Cup editions only ratchet that tension up.

Professional teams have a hard enough time keeping a core championship group together and healthy for three consecutive years on a club level – the US women’s team is attempting to do the same thing eight years after winning the 2015 World Cup.

The legendary generation of players which won that tournament is largely gone – just five players from 2015 remain on the squad in this tournament.

The teams that have pulled off three-peats are often legendary. The 1990s Chicago Bulls, the late 90s-early 00s New York Yankees and Los Angeles Lakers, the mid-century Boston Celtics and Montreal Canadiens, the New York Yankees (again) in the 1930s and 40s – all teams that live long in the consciousness of American sports fans.

In club soccer since 2000, only an iconic Real Madrid side led by Cristiano Ronaldo won three UEFA Champions Leagues in a row from 2016 to 2018.

Meanwhile Spain is the only country to ever win three major international championships in a row – Euro 2008, the 2010 World Cup and Euro 2012 – and those were still two different competitions taking place every two years, not very comparable to what the US women are attempting to do in winning three World Cups in a row.

This US Women’s National Team still has a path – albeit one that might be rockier and steeper than most observers expected even two weeks ago – to join those legendary ranks. If they pull it off, perhaps the disappointing draws from the 2023 tournament’s group stage will be seen as a case of survive-and-advance.

Eyes on the prize

USWNT players and Andonovski are looking ahead to the knockout stage, where they will meet the winner of Group G – almost certain to be Sweden, barring a 10-goal swing in the final round of fixtures.

“The approach is do or die,” Morgan told reporters after the game. “You know, the knockout stage, anything can happen and we are looking to get back, feel good, get our bodies back and we’ll be watching tomorrow to see who will be playing.”

Star midfielder Lindsey Horan, who has scored two of the team’s four goals, was keen to focus on the positives after the game but recognizes the need for improvement.

“I’m very confident in this team,” she said after the match. “Obviously, this is not the performance that anyone wanted to see, or we felt like we could do.

“I think we need more and we build off of that. You’re going to see a better team in the round of 16.”

Andonovski himself added, “We’re not happy with our performance, but we qualify for the next round. We’re moving on.”

The USWNT’s next fixture takes place on Sunday at 5 a.m. ET. A game against Sweden, No. 3 ranked in the world by FIFA, has plenty of World Cup history. Sweden drew with the US in 2015 and also beat them in 2011 – the last time any team defeated the USWNT inside regulation at a World Cup. The US defeated the Scandinavian side in the group stage in 2019.

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US coach Vlatko Andonovski said it was “insane” for anyone to question the team’s commitment as he responded to criticism from former American international soccer star Carli Lloyd.

“The player of the match was that post,” two-time World Cup winner and former US player Lloyd said on the FOX broadcast – a reference to Portugal hitting the upright late on – adding that her former teammates are “lucky to not be going home right now.”

The 0-0 draw in Auckland on Tuesday, New Zealand, saw the four-time world champion finish as runner-up in Group E, likely setting up a meeting with Sweden in the last 16 on Sunday.

“Everyone is entitled to opinion and, you know, they can say whatever they want, but I just know how this team feels,” he added.

Andonovksi, however, acknowledged that the team underperformed against Portugal, as the US came painfully close to exiting the tournament when substitute Ana Capeta hit the post in the dying moments of the game for the European team.

“It’s not like we played well by any means, but we owned it,” said Andonovski. “We know that it’s not good enough … We’re not happy with our performance, but we qualify for the next round. We’re moving on.”

Lloyd’s comments came after images surfaced of the American players’ reaction following the draw.

“I have never witnessed something like that,” she said, adding: “To be dancing, to be smiling?”

What’s gone wrong for the USWNT?

A victory against Vietnam and draws against the Netherlands and Portugal mean this was the US’ worst-ever group stage performance at a World Cup, according to FIFA, and Tuesday’s game was just the sixth time in the history of the tournament that the team has failed to score.

And that’s not all: this was the first time the US has failed to win successive World Cup group stage matches and the second time (after 2011) that it has failed to win its group.

No team has ever won the Women’s World Cup having collected as little as five points in the group stages, but now the defending champion must try and do exactly that.

“The performances aren’t where we want them,” experienced forward Megan Rapinoe, who came on as a second-half substitute against Portugal, told reporters.

“But we’re through to the next round. We’re finding ways to get results that we need and I think finding our way into the tournament.

“We obviously haven’t played together a ton as the same lineup over a long period of time, we have people come back from injuries. It’s no excuse but I think we knew it was going to take a little bit of time to get into the tournament. Now it’s time to figure it out.”

The current US team is a mix of older players like Rapinoe, Alex Morgan and Kelley O’Hara – all appearing in their fourth World Cups – and younger players like Sophia Smith, who scored twice against Vietnam, making their debuts at the tournament.

It’s clear, as the players themselves know, that things haven’t clicked for Andonovski’s team yet.

“I think we just haven’t really controlled the ball as well as we would like to,” midfielder Julie Ertz told reporters after the game against Portugal.

“I think we’re giving up easy transitions for other teams. So I think for us, it’s just honing in and having more quality on the ball … It’s coming together as a team and really providing options for each other. I think there are a lot of little small things that we can do to just collectively hold onto the ball better.”

What’s next for the US team?

The message from Andonovski and his players is that this is not time to panic.

Despite a nerve-wracking conclusion in the draw against Portugal and finishing behind the Netherlands, the US would appear on paper to have enough experience and star quality to beat any team in the tournament.

Next up will likely be Sweden, which currently sits top of Group G, though that last-16 matchup won’t be confirmed until the conclusion of Wednesday’s games.

“The approach is it’s do or die,” Morgan told reporters. “The knockout stage – anything can happen and we are looking to get back, feel good, get our bodies back, and we’ll be watching tomorrow to see who we will be playing.

“I don’t think it’s big adjustments. I feel like it’s taking advantage of the chances that we have. We created enough to put the ball in the back of the net.”

The US team’s historical success at the tournament places enormous pressure on the side each time it takes to the field. As well as winning four world titles – 1991, 1999, 2015 and 2019 – the US has shown remarkable consistency by reaching at least the semifinals of every Women’s World Cup.

To make matters harder, there will be no Rose Lavelle for the round-of-16 game with the midfielder suspended after picking up a second yellow card against Portugal. The players, however, remain undaunted by the weight of adversity and expectation.

“I’m very confident in this team,” midfielder Lindsey Horan told reporters. “Obviously, this is not the performance that anyone wanted to see, or we felt like, you know, we could do. I think we need more and we will build off of that. You’re gonna see a better team in the round of 16.”

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The UNESCO World Heritage Committee has decided not to add the Great Barrier Reef to its list of sites “in danger,” despite overwhelming scientific evidence that suggests it’s at risk of another mass bleaching this coming summer – and scientists are questioning why.

At its meeting in Paris on Monday, the committee said the Australian government had made “significant progress” but the reef remains under “serious threat” from climate change and pollution.

The committee added that “sustained action to implement the priority recommendations of the mission is essential in order to improve (its) long-term resilience,” and asked the government to report back with an update by February 1 – at the height of the Australian summer.

But scientists say there’s little prospect of radical improvement just six months from now, especially as climate forecasters say the arrival of El Niño, a natural climate fluctuation which typically has a warming impact, will likely make oceans even hotter.

“Current global emissions policies put us on track for about 2.7 degrees (Celsius). So, with our current policies and current emissions, we’re very clearly on track to see at least a 99% decline in global coral reefs, and if that doesn’t scream the reef’s in danger, then I’m not sure what will,” said Reid.

Covering nearly 133,000 square miles (345,000 square kilometers), the Great Barrier Reef is home to more than 1,500 species of fish and 411 species of hard corals. It contributes billions of dollars to the Australian economy each year, and is promoted heavily to foreign tourists as one of the country’s – and the world’s – greatest natural wonders.

Since the World Heritage Committee first raised the possibility of an “in danger” rating in 2021, successive Australian governments have been working hard to convince the committee that they are diligent custodians.

Environment minister Tanya Plibersek told reporters Tuesday she made no apology for lobbying UNESCO to keep the Great Barrier Reef off the “in danger” list.

“Lobbying is about telling the truth about what we’re doing,” said Plibersek, listing off the Labor government’s major environmental policies since coming to power in 2022, including spending millions of dollars on improving water quality and reef management, as well as measures to reduce planet-heating pollution including setting emissions targets and electrifying homes.

‘Some recovery’ but more work needed

Under the previous government, the Great Barrier Reef suffered severe mass bleaching in 2016, 2017 and 2020, caused by hotter ocean temperatures as the world continues to burn planet-heating fossil fuels.

Another bleaching event in 2022 – the first during a La Niña event, El Niño’s counterpart, which tends to have a cooling influence – raised serious concerns about its outlook and the country’s management plans.

In Monday’s draft decision, the committee said the reef had experienced “some recovery” since the last bleaching event and that populations of a number of key species were increasing or stable.

The committee also noted its “appreciation” for the government’s recent actions, but said more needed to be done to improve water quality and to “strengthen the Reef 2050 Plan to include clear government commitments to reduce greenhouse emissions.”

Plibersek said the government was well aware more work needed to be done, to protect not only the reef but the thousands of Australians whose jobs rely on it.

“No-one needs to tell Australia to look after the reef today. No-one takes protecting the reef more seriously. I am pleased that’s been acknowledged by the international community,” Plibersek said.

But scientists pointed out that the reef’s outlook is unlikely to improve between now and February 1, the deadline for the government to issue another progress update.

“The UNESCO update on the Great Barrier has kicked the can down the road – delaying the next assessment on listing the Reef as “in danger” by another year,” said Terry Hughes, director of the ARC Centre of Excellence for Coral Reef Studies at James Cook University, in a written statement.

On Tuesday, the Australian Bureau of Meteorology said the arrival of El Niño was “likely in the coming weeks,” though the US National Oceanic Atmospheric Administration (NOAA) and the World Meteorological Organization have already announced its arrival.

“As El Niño conditions strengthen once more, it’s very likely we’ll see another mass bleaching event next summer, just after the report is written,” Hughes said.

David Booth, professor of Marine Ecology at UTS and president of the Australian Coral Reef Society, pointed out the apparent contradiction between the government’s stated efforts to protect the reef and its recent approval for new fossil fuel projects.

According to the Australia Institute’s Coal Mine Tracker, the government has approved three new coal mines or expansions since coming to power in May 2022.

“Will the Federal Government finally face up to reality and stop all coal and gas production and export – especially new gas developments such as the Adani field? It is almost too late to save the Reef, along with its huge tourism and fishing industries,” said Booth in a statement.

Jodie Rummer, a professor of Marine Biology at James Cook University, said the “in danger” listing was “irrelevant,” and the world needs to face up to the severe threat that accelerated climate change poses to the Great Barrier Reef and others worldwide.

“That’s what’s going to make the single biggest difference in how these extreme events these marine heat waves will be faced both now and into the future.”

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