Latest news with #N2
The Citizen
2 days ago
- Climate
- The Citizen
WATCH: Transport MEC inspects Mzimkhulu River bridge repairs
The Mzimkhulu River bridge project is a little behind schedule. MEC for Transport and Human Settlements, Siboniso Duma conducted an inspection along with the speaker of Ugu, Sizwe Ngcobo and Ray Nkonyeni Municipality mayor, Zodwa Mzindle earlier today. Duma's surprise visit was to ascertain the project's progress. The resident engineer, Vusi Dlamini, said they are not too far behind, they need to complete the investigation on the pillars. Dlamini also mentioned that due to last week's weather, they had difficulties because of the high tides. Duma told the contractor to make it a point that he prioritises this project because of the road closure, and the timeframe given to the public to use the N2. HAVE YOUR SAY Like the South Coast Herald's Facebook page, follow us on Twitter and Instagram At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
News24
14-06-2025
- News24
Highway horror: Drunk driver's 170km/h rampage ends in fatal crash
A suspected drunk driver speeding at 170km/h caused a three-vehicle crash on the N2 in Mpumalanga, killing five people. Sharon Seretlo/Gallo Images Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once.
Business Insider
04-06-2025
- Business
- Business Insider
Nigerians would need to pay more for Netflix despite diminishing purchasing power
The Basic plan now costs ₦4,000, up from ₦3,500, and the Mobile plan is now ₦2,500, up from ₦2,200. This new adjustment comes after previous increases in July 2024, further pinching customers in a country dealing with economic contraction and rising inflation. In July 2024, the Premium plan increased by 40% to ₦7,000 ($4.40), the Standard plan by 37.5% to ₦5,500 ($3.46), the Basic plan by 21% to ₦3,500 ($2.20), and the Mobile plan from ₦1,600 ($1.01) to ₦2,200 ($1.38). Earlier in April of the same year, the streaming service announced a price increase for its Premium Plan, raising it from N4,400 to N5,000. At the same time, the Standard Plan increased from N3,600 to N4,000, while the Basic Plan stayed at N2,900. The Nigerian economy has suffered significantly in recent years, with the country's currency, the naira, depreciating and consumer purchasing power plummeting. With the country's inflation continuing to increase, the cost of basic goods and services has risen, making discretionary spending, such as video streaming, more difficult to justify for many Nigerians. Streaming subscriptions are more expensive in industrialized countries such as the United States and the United Kingdom, but customers often earn much more, making such services reasonably affordable. For example, although Americans pay $15.49 (approximately ₦24,000 at current exchange rates) for Netflix's Standard plan, the average U.S. worker makes more than $60,000 per year. Nigeria's minimum monthly salary remains at ₦70,000, with many earning significantly less in the informal economy. This is more complex when you consider that Nigeria's current minimum wage of ₦70,000 is merely $43, compared to its minimum wage of ₦30,000 as of 2022, which was $70 when exchanged at the average rate of ₦423.7 at the end of the year. This dip highlights Nigeria's declining purchasing power in the face of one of its worst economic periods in the country's history. This disparity in purchasing power parity (PPP) also demonstrates the increasing difficulties of developing global subscription models in poor nations. As streaming platforms pursue profitability, they risk losing customers in price-sensitive areas such as Nigeria. Unless updated price structures or regional considerations are applied, subscription-based services may see decreased popularity in places where economic hardship makes digital entertainment increasingly costly.
The Herald
25-05-2025
- The Herald
Motorcyclist, 26, dies in crash on N2
A 26-year-old motorcyclist was killed on Saturday near the Kariega turn-off on the N2. According to police, he lost control of his white Honda Fire Blade 1,000cc. Police spokesperson Captain Sandra Janse van Rensburg said the accident happened at about 5.15pm. 'The driver of the motorcycle, with a female passenger, was travelling towards Gqeberha. 'According to information gathered on the scene, the driver passed a truck on the N2, at the Kariega and Van Stadens turn-off, and shortly thereafter lost control of the motorcycle and overturned,' Janse van Rensburg said. The driver died on the scene while his passenger sustained serious injuries. She was transported to a hospital for treatment. Janse van Rensburg said the name of the deceased would only be released once he had been officially identified. Police were investigating a case of culpable homicide, she said. The Herald
Yahoo
20-05-2025
- Business
- Yahoo
Formation Metals Announces 20,000 Metre Multi-Phase Drill Program for the Advanced N2 Gold Project
VANCOUVER, BC / / May 20, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCPK:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce plans for executing a 20,000 metre multi-phase drill program at its flagship N2 Gold Project ("N2") in Quebec, an advanced gold project with a global historic resource of ~870,000 ounces: 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. The first 5,000 metres of the drill program is fully funded and is intended to commence this summer. The drill program is designed to focus on discovery drilling at new high-potential targets along the mineralization strikes at the "A", "RJ" and "Central" zones in the northern part of the property in order to discover new auriferous trends and unlock new zones of gold mineralization. The program will also focus on high-priority infilling and expansion targets in these zones to significantly enhance the project resource base through the recent exploration permit (Figure 1). Historical highlights from the top two priority zones include: A Zone: With a historical resource of ~522,900 gold ounces (10.7 Mt @ 1.52 g/t Au), the "A" Zone is a shallow, highly continuous, low-variability historic gold deposit with ~15,000 metres of drilling across 55 drillholes, 84% of which intercepted gold mineralization. The best historical intercept includes up to 1.7 g/t over 35 metres with a metal factor of 93. ~1.65 km of strike has been drilled, with 3.1+ km of strike to be tested as part of the 20,000 metre program. RJ Zone: With a historical resource of ~61,100 gold ounces (243 Kt @ 7.82 g/t Au), the "RJ" Zone is a high-grade target that was expanded upon in the last drill program in 2008 by Agnico-Eagle when gold was approximately ~$800/oz. Historically, 20,875 metres has been drilled over 82 drillholes, with best intercepts of 48 g/t over 0.5 metres and 16.5 g/t over 3.6 metres. ~900 metres of strike has been drilled, with 4.75+ km of strike to be tested as part of the 20,000 metre program. The Company has formally submitted its Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN) following discussions with all necessary parties and anticipates receiving its ATI permit within the next 30 to 40 days, after which it intends on commencing its maiden drill program at N2. Deepak Varshney, CEO of Formation Metals, commented: "We are thrilled to unveil our drill plans for the N2 Project. Given the scale of the property, the compelling geological data, and the Abitibi Greenstone Belt's established history as a hotbed for gold mining, we believe that a program of this scale will deliver our goal of growing N2's historical resource into a near-surface multi-million-ounce deposit." Mr. Varshney continued: "We see the potential for over three million ounces of gold at N2, and our fully funded maiden 5,000-metre drilling program will mark the beginning of Formation's pursuit of that goal. Our maiden program will focus on building on the successes of our predecessors. The drilling discoveries made by Agnico-Eagle and Cypress after the initial historic resource estimate show the expansion potential at N2. With gold at $3,200, over 4 times the price in 2008 when Agnico last drilled the project, we believe that the timing is perfect for N2 and look forward to a very busy upcoming quarter." Figure 1 - PDDH design for 20,000m Drill Program Qualified person The technical content of this news release has been reviewed and approved by Mr. Babak Vakili Azar, an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person. The information provided has not been verified and is being treated as historic non-compliant intercepts. About Formation Metals Inc. Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high-upside and expansion potential. Formation's flagship asset is the N2 Gold Project, an advanced gold project with a global historic resource of ~870,000 ounces (18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4) and six mineralized zones, each open for expansion along strike and at depth including the "A" zone, of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to historical high-grade intercepts as high as 51 g/t Au over 0.8 metres. FORMATION METALS INC. Deepak Varshney, CEO and Director For more information, please call 778-899-1780, email info@ or visit Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Notes and References: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property. The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior data prepared by a previous property owner, and do not conform to current CIM categories. While the Company considers the estimates to be reliable, a qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as a current resource. A 0.5 g/t Au cut-off was used in the preparation of the historical estimates with a minimum 2.5 metre mining width. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. The Company is not aware of any more recent estimates prepared for the N2 Property. Needham, B. (1994), 1993 Diamond Drill Report, Northway Joint Venture, Northway Property; Cypress Canada Inc.; 492 pages. Guy K. (1991), Exploration Summary May 1, 1990 to May 1, 1991 Vezza Joint Venture Northway Property; Total Energold; 227 pages. Forward-looking statements: This news release includes "forward-looking statements" under applicable Canadian securities legislation, including statements respecting: the Company's plans for the Property and the expected timing and scope of the 2025 drilling program at the Property; the Company's view that timing is perfect for a near-surface multi-million-ounce deposit the Property; the Company's anticipated timeline with respect to the Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN); the Company's view that the Property has the potential for over three million ounces of gold and the 5,000-metre drilling program marking the beginning of the Company's pursuit of that goal. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. SOURCE: Formation Metals View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
