When it comes to CRO, or Conversion Rate Optimization, it would be natural to assume that conversion is all that matters. At least, we can argue that conversion rate is at the heart of most experiments. However, the ultimate goal is to raise revenue, so why does the CRO world put so much emphasis on conversion rates?
In this article, we’ll shed some light on the reason why conversion rate is important and why it’s not just conversions that should be considered.

Why is conversion rate so important?

Let’s start off with the three technical reasons why CRO places such importance on conversion rates:

1. Conversion is a generic term. It covers the fact that an e-commerce visitor becomes a customer by buying something, or simply the fact that this visitor went farther than just the homepage, or clicks on a product page, or adds this product to the cart. In that sense, it’s the Swiss Army Knife of CRO.
2. Conversion statistics are far easier than other KPI statistics, and they’re the simplest from a maths point of view. In terms of measurement, it’s pretty straightforward: success or failure. This means off-the-shelf code or simple spreadsheet formulas can compute statistics indices for decision, like the chance to win or confidence intervals about the expected gain. This is not that easy for other metrics as we will see later with Average Order Value (AOV).
3. Conversion analysis is also the simplest when it comes to decision-making. There’s (almost) no scenario where raising the number of conversions is a bad thing. Therefore, deciding whether or not to put a variation in production is an easy task when you know that the conversion rate will rise. The same can’t be said about the “multiple conversions” metric where, unlike the conversion rate metric that counts one conversion per visitor even if this visitor made 2 purchases, every conversion counts and so is often more complex to analyze. For example, the number of product pages seen by an e-commerce visitor is harder to interpret. A variation increasing this number could have several meanings: the catalog can be seen as more engaging or it could mean that visitors are struggling to find what they’re looking for.

Due to the aforementioned reasons, the conversion rate is the starting point of all CRO journeys. However, conversion rate on its own is not enough. It’s also important to pay attention to other factors other than conversions to optimize revenue.

Beyond conversion rate

Before we delve into a more complex analysis, we’ll take a look at some simpler metrics. This includes ones that are not directly linked to transactions such as “add to cart” or “viewed at least one product page”.
If it’s statistically assured to win, then it’s a good choice to put the variation into production, with one exception. If the variation is very costly, then you will need to dig deeper to ensure that the gains will cover the costs. This can occur, for example, if the variation holds a product recommender system that comes with its cost.
The bounce rate is also simple and straightforward in that the aim is to keep the figure down unlike the conversion rate. In this case, the only thing to be aware of is that you want to lower the bounce rate unlike the conversion rate. But the main idea is the same: if you change your homepage image and you see the bounce rate statistically drop, then it’s a good idea to put it in production.
We will now move onto a more complex metric, the transaction rate, which is directly linked to the revenue.
Let’s start with a scenario where the transaction rate goes up. You assume that you will get more transactions with the same traffic, so the only way it could be a bad thing is that you earn less in the end. This means your average cart value (AOV) has plummeted. The basic revenue formula shows it explicitly:
Total revenue = traffic \ transaction rate * AOV*
Since we consider traffic as an external factor, then the only way to have a higher total revenue is to have an increase in both transaction rate and AOV or have at least one of them increase while the other remains stable. This means we also need to check the AOV evolution, which is much more complicated.
On the surface, it looks simple: take the sum of all transactions and divide that by the number of transactions and you have the AOV. While the formula seems basic, the data isn’t. In this case, it’s not just either success or failure; it’s different values that can widely vary.
Below is a histogram of transaction values from a retail ecommerce website. The horizontal axis represents values (in €), the vertical axis is the proportion of transactions with this value. Here we can see that most values are spread between 0 and €200, with a peak at ~€50.
When it comes to CRO, or Conversion Rate Optimization, it would be natural to assume that conversion is all that matters. At least, we can argue that conversion rate is at the heart of most experiments. However, the ultimate goal is to raise revenue, so why does the CRO world put so much emphasis on conversion rates?
In this article, we’ll shed some light on the reason why conversion rate is important and why it’s not just conversions that should be considered.

Why is conversion rate so important?

Let’s start off with the three technical reasons why CRO places such importance on conversion rates:

1. Conversion is a generic term. It covers the fact that an e-commerce visitor becomes a customer by buying something, or simply the fact that this visitor went farther than just the homepage, or clicks on a product page, or adds this product to the cart. In that sense, it’s the Swiss Army Knife of CRO.
2. Conversion statistics are far easier than other KPI statistics, and they’re the simplest from a maths point of view. In terms of measurement, it’s pretty straightforward: success or failure. This means off-the-shelf code or simple spreadsheet formulas can compute statistics indices for decision, like the chance to win or confidence intervals about the expected gain. This is not that easy for other metrics as we will see later with Average Order Value (AOV).
3. Conversion analysis is also the simplest when it comes to decision-making. There’s (almost) no scenario where raising the number of conversions is a bad thing. Therefore, deciding whether or not to put a variation in production is an easy task when you know that the conversion rate will rise. The same can’t be said about the “multiple conversions” metric where, unlike the conversion rate metric that counts one conversion per visitor even if this visitor made 2 purchases, every conversion counts and so is often more complex to analyze. For example, the number of product pages seen by an e-commerce visitor is harder to interpret. A variation increasing this number could have several meanings: the catalog can be seen as more engaging or it could mean that visitors are struggling to find what they’re looking for.

Due to the aforementioned reasons, the conversion rate is the starting point of all CRO journeys. However, conversion rate on its own is not enough. It’s also important to pay attention to other factors other than conversions to optimize revenue.

Beyond conversion rate

Before we delve into a more complex analysis, we’ll take a look at some simpler metrics. This includes ones that are not directly linked to transactions such as “add to cart” or “viewed at least one product page”.
If it’s statistically assured to win, then it’s a good choice to put the variation into production, with one exception. If the variation is very costly, then you will need to dig deeper to ensure that the gains will cover the costs. This can occur, for example, if the variation holds a product recommender system that comes with its cost.
The bounce rate is also simple and straightforward in that the aim is to keep the figure down unlike the conversion rate. In this case, the only thing to be aware of is that you want to lower the bounce rate unlike the conversion rate. But the main idea is the same: if you change your homepage image and you see the bounce rate statistically drop, then it’s a good idea to put it in production.
We will now move onto a more complex metric, the transaction rate, which is directly linked to the revenue.
Let’s start with a scenario where the transaction rate goes up. You assume that you will get more transactions with the same traffic, so the only way it could be a bad thing is that you earn less in the end. This means your average cart value (AOV) has plummeted. The basic revenue formula shows it explicitly:
Total revenue = traffic \ transaction rate * AOV*
Since we consider traffic as an external factor, then the only way to have a higher total revenue is to have an increase in both transaction rate and AOV or have at least one of them increase while the other remains stable. This means we also need to check the AOV evolution, which is much more complicated.
On the surface, it looks simple: take the sum of all transactions and divide that by the number of transactions and you have the AOV. While the formula seems basic, the data isn’t. In this case, it’s not just either success or failure; it’s different values that can widely vary.
Below is a histogram of transaction values from a retail ecommerce website. The horizontal axis represents values (in €), the vertical axis is the proportion of transactions with this value. Here we can see that most values are spread between 0 and €200, with a peak at ~€50.
https://preview.redd.it/toe6tcg08u0d1.png?width=384&format=png&auto=webp&s=58a20aa968f43d8a485f9f4bd9b494f6bf538517
The right part of this curve shows a “long/fat tail”. Now let’s try to see how the difference within this kind of data is hard to spot. See the same graph below but with higher values, from €400 to €1000. You will also notice another histogram (in orange) of the same values but offset by €10.
https://preview.redd.it/cqgmh1628u0d1.png?width=387&format=png&auto=webp&s=0ca2cfc150dd989a868adcbc04ed435c6b330828
We see that the €10 offset which corresponds to a 10-unit shift to the right is hard to distinguish. And since it corresponds to the highest values this part has a huge influence when averaging samples. Due to the shape of this transaction value distribution, any measure of the average value is somewhat blurred, which makes it very difficult to have clear statistical indices. For this reason, changes in AOV need to be very drastic or measured over a huge dataset to be statistically asserted, making it difficult to use in CRO.
Another important feature is hidden even further on the right of the horizontal axis. Here’s another zoom on the same graph, with the horizontal axis ranging from €1000 to €4500. This time only one curve is shown.
https://preview.redd.it/egu5mtr38u0d1.png?width=404&format=png&auto=webp&s=f539ff85b05d5f93e07ac74b8577907747618b97
From the previous graph, we could have easily assumed that €1000 was the end, but it’s not. Even with a most common transaction value at €50, there are still some transactions above €1000, and even some over €3000. We call these extreme values.
As a result, whether these high values exist or not makes a big difference. Since these values exist but with some scarcity, they will not be evenly spread across a variation, which can artificially create difference when computing AOV. By artificially, we mean the difference comes from a small number of visitors and so doesn’t really count as “statistically significant”. Also, keep in mind that customer behavior will not be the same when buying for €50 as when making a purchase of more than €3000.
There’s not much to do about this except know it exists. One good thing though is to separate B2B and B2C visitors if you can, since B2C transaction values are statistically bigger and less frequent. Setting them apart will limit these problems.

What does this mean for AOV?

There are three important things to keep in mind when it comes to AOV:

1. Don’t trust the basic AOV calculation; the difference you are seeing probably does not exist, and is quite often not even in the same observed direction! It’s only displayed to give an order of magnitude to interpret changes in conversion rates but shouldn’t be used to state a difference between variations’ AOV. That’s why we use a specific test, the Mann-Whitney U test, that’s adapted for this kind of data.
2. You should only believe the statistical index on AOV, which is only valid to assess the direction of the difference between AOV, not its size. For example, you notice a +€5 AOV difference and the statistical index is 95%; this only means that you can be 95% sure that you will have an AOV gain, but not that it will be €5.
3. Since transaction data is far more wild than conversion data, it will need stronger differences or bigger datasets to reach statistical significance. But since there are always fewer transactions than visitors, reaching significance on the conversion rate doesn’t imply being significant on AOV.

This means that a decision on a variation that has a conversion rate gain can still be complex because we rarely have a clear answer about the variation effect on the AOV.
This is yet another reason to have a clear experimentation protocol including an explicit hypothesis.
For example, if the test is about showing an alternate product page layout based on the hypothesis that visitors have trouble reading the product page, then the AOV should not be impacted. Afterwards, if the conversion rate rises, we can validate the winner if the AOV has no strong statistical downward trend. However, if the changes are in the product recommender system, which might have an impact on the AOV, then one should be more strict on measuring a statistical innocuity on the AOV before calling a winner. For example, the recommender might bias visitors toward cheaper products, boosting sales numbers but not the overall revenue.

The real driving force behind CRO

We’ve seen that the conversion rate is at the base of CRO practice because of its simplicity and versatility compared to all other KPIs. Nonetheless, this simplicity must not be taken for granted. It sometimes hides more complexity that needs to be understood in order to make profitable business decisions, which is why it’s a good idea to have expert resources during your CRO journey.
That’s why at AB Tasty, our philosophy is not only about providing top-notch software but also Customer Success accompaniment.

4.4 million CAD in cash generated from the sale
Now the deal is done and dusted! As previously reported by Goldinvest.de, Element79 Gold (CSE ELEM / WKN A3EX7N) is selling the former main project of its Nevada project portfolio Maverick Springs to the Australian company Sun Silver. The process has dragged on, but now CEO James Tworek’s company can announce the exercise of the binding option agreement to complete the sale of Maverick Springs!
​
https://preview.redd.it/ox960kxz6u0d1.png?width=461&format=png&auto=webp&s=0b349efed44392774b52ac0b34e2e4a93dff16f9
Element79 acquired the project in 2021 and has since developed it further. Among other things, a resource update was carried out, certifying Maverick Springs inferred resources of 3.71 million ounces of gold equivalent in accordance with the Canadian NI 43-101 standard.
Element79 had already started looking for financing partners for Maverick Springs last year, as the formerly producing Lucero gold mine was already coming into focus at that time. In August 2023, the company then negotiated and later signed the binding option agreement with Sun Silver.
Proceeds from the sale support Lucero development
Element79 is now focusing almost exclusively on the development of the high-grade Lucero project in Peru, where it sees the potential for a return to production in the foreseeable future. The proceeds from the Mavericks Springs transaction come at just the right time. According to Element79, the adjusted costs for the original acquisition of Maverick Springs were CAD 3.337 million, while the project can now be sold for CAD 5.033 million. This means that the value of Maverick Springs has been increased by CAD 1.696 million. This means an ROI (return on investment) of 51% – within just 28 months, as Element79 Gold calculates.
As the company further explains, the sale will generate a total of CAD 4.4 million in cash. In addition, Element79 will receive 3.5 million Sun Silver shares at AUD 0.20, which represents a fair market value of AUD 700,000. It is expected that the Sun Silver shares will be tradable on the ASX from approximately May 15.
According to Element79, it will use CAD 2.2 million of the proceeds from the sale to repay a loan in connection with the acquisition of the Nevada projects. The remaining capital will be used to fund other corporate projects and operations and to reduce capital debt and liabilities.
“The successful completion of the transaction underscores Element79’s unwavering commitment to executing its strategic plan,” said James Tworek, CEO of the company. “This is a critical milestone in the Company’s history: it is a testament to our team’s ability to create value through project execution and indicates a potential inflection point in our ongoing mission to build a stronger and more focused company; it underpins careful financial management by cleaning up the balance sheet from past efforts; and it provides non-dilutive capital to support operations and advance strategic exploration programs on our core properties to create further value for our investors.”
Conclusion: With the Maverick Springs transaction, we believe Element79 has not only shown that it is possible to create value for shareholders, but also that it is now possible to intensify efforts in relation to the ongoing exploration and optimization of the main Lucero project. This should be all the easier as the company is now in a much more stable financial position. We are excited to see what Element79 Gold can achieve this year.

4.4 million CAD in cash generated from the sale
Now the deal is done and dusted! As previously reported by Goldinvest.de, Element79 Gold (CSE ELEM / WKN A3EX7N) is selling the former main project of its Nevada project portfolio Maverick Springs to the Australian company Sun Silver. The process has dragged on, but now CEO James Tworek’s company can announce the exercise of the binding option agreement to complete the sale of Maverick Springs!
​
https://preview.redd.it/y5bx0s5w6u0d1.png?width=461&format=png&auto=webp&s=a1257004765cbf7d2d515a65a4a1417f35a01be5
Element79 acquired the project in 2021 and has since developed it further. Among other things, a resource update was carried out, certifying Maverick Springs inferred resources of 3.71 million ounces of gold equivalent in accordance with the Canadian NI 43-101 standard.
Element79 had already started looking for financing partners for Maverick Springs last year, as the formerly producing Lucero gold mine was already coming into focus at that time. In August 2023, the company then negotiated and later signed the binding option agreement with Sun Silver.
Proceeds from the sale support Lucero development
Element79 is now focusing almost exclusively on the development of the high-grade Lucero project in Peru, where it sees the potential for a return to production in the foreseeable future. The proceeds from the Mavericks Springs transaction come at just the right time. According to Element79, the adjusted costs for the original acquisition of Maverick Springs were CAD 3.337 million, while the project can now be sold for CAD 5.033 million. This means that the value of Maverick Springs has been increased by CAD 1.696 million. This means an ROI (return on investment) of 51% – within just 28 months, as Element79 Gold calculates.
As the company further explains, the sale will generate a total of CAD 4.4 million in cash. In addition, Element79 will receive 3.5 million Sun Silver shares at AUD 0.20, which represents a fair market value of AUD 700,000. It is expected that the Sun Silver shares will be tradable on the ASX from approximately May 15.
According to Element79, it will use CAD 2.2 million of the proceeds from the sale to repay a loan in connection with the acquisition of the Nevada projects. The remaining capital will be used to fund other corporate projects and operations and to reduce capital debt and liabilities.
“The successful completion of the transaction underscores Element79’s unwavering commitment to executing its strategic plan,” said James Tworek, CEO of the company. “This is a critical milestone in the Company’s history: it is a testament to our team’s ability to create value through project execution and indicates a potential inflection point in our ongoing mission to build a stronger and more focused company; it underpins careful financial management by cleaning up the balance sheet from past efforts; and it provides non-dilutive capital to support operations and advance strategic exploration programs on our core properties to create further value for our investors.”
Conclusion: With the Maverick Springs transaction, we believe Element79 has not only shown that it is possible to create value for shareholders, but also that it is now possible to intensify efforts in relation to the ongoing exploration and optimization of the main Lucero project. This should be all the easier as the company is now in a much more stable financial position. We are excited to see what Element79 Gold can achieve this year.

Toronto, Ontario – May 14, 2024 – Olive Resource Capital Inc. (TSXV: OC) (“Olive” or the “Company”) is pleased to provide investors an updated, unaudited Net Asset Value (“NAV”) per share. Management has estimated the NAV of the Company at C$0.063 per share for April 30, 2024 (Table 1). At the end of March, the Company’s price per share was C$0.025.
Table 1: Olive NAV Breakdown
https://preview.redd.it/x3cof4rt6u0d1.png?width=1228&format=png&auto=webp&s=7cd1d228d6e9da4ea0646ac268edcbc74b6634f4

1. Working Capital is calculated as cash, adjusted for management’s estimate for known liabilities and is subject to change with future estimates or financial reports.
2. Olive defines Liquid Investments as investments whose position can be liquidated in less than one day’s average trading volume for that security.

Samuel Pelaez, the Company’s President, CEO, CIO, and Director stated: “Commodities continued their rally in April, led by copper and gold which benefit from investment and speculative purchases in China. Stocks of major commodity producers continued to perform well. The junior resource complex, which had trailed its larger counterparts, finally posted positive and comparable performance to that larger complex. Olive continued to deploy capital into the junior resource space expecting the sector to catch up to its larger peers.”
Derek Macpherson, Executive Chairman stated: “Despite both our liquid and fundamental portfolio’s being up month-over-month, Olive’s NAV per share was down just under 2% because of Nevada Zinc. With this legacy equity position now marked to zero, this closes the book on Olive’s legacy investments, and Olive’s management can focus on its diversified portfolio of quality investments.”
Investment in Nevada Zinc
The Company has elected to reduce the carrying value of its equity investment in Nevada Zinc to zero because Nevada Zinc has received a Cease Trade Order for failing to file its year-end 2023 audited financials. The Nevada Zinc stock has been halted, and there appears to be no clear path to rectify the situation. Olive has made multiple offers to inject new capital into Nevada Zinc over the last year, none of which were accepted.
Normal Course Issuer Bid (“NCIB”)
During the month of April, the Company repurchased 500,000 shares at an average price of $0.025 per share, pursuant to its NCIB. As of the date of this release, the Company holds 1,000,000 shares in treasury pending cancellation.
As of the date of this release Olive Resource Capital Inc. has 109,174,709 common shares outstanding.
Use of Non-GAAP Financial Measures:
This press release contains references to NAV or “net asset value per share” which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure presented in the Company’s consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding the Company’s performance, and may assist in the evaluation of the Company’s business relative to that of its peers. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP, and is not necessarily indicative of other metrics presented in accordance with GAAP. Existing NAV of the Company is not necessarily predictive of the Company’s future performance or the NAV of the Company as at any future date.
About Olive Resource Capital Inc.:
Olive is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The Company’s assets consist primarily of investments in natural resource companies in all stages of development.
For further information, please contact:
Derek Macpherson, Executive Chairman at [derek@olive-resource.com](mailto:derek@olive-resource.com) or by phone at (416)294-6713 or Samuel Pelaez, President, CEO & CIO at [sam@olive-resource.com](mailto:sam@olive-resource.com) or by phone at (202)677-8513. Olive’s website is located at www.olive-resource.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Statements: This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expects”, “is expected”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “should”, “might”, “will be taken”, or “occur” and similar expressions) are not statements of historical fact and may be forward-looking statements.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Olive to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Olive 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and those risks set out in the Company’s public documents filed on SEDAR. Accordingly, readers should not place undue reliance on forward-looking information. Olive does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. The information provided in this recording has been obtained from sources believed to be reliable and is believed to be accurate at the time of publishing but we do not represent that it is accurate or complete and it should not be relied upon as such.

https://preview.redd.it/o00i61s84u0d1.png?width=980&format=png&auto=webp&s=b0d66bbf537a7e5727c5bb52c372f73de1580339
What if the pelican took you directly to the next operation eliminating the chance to change stratagems and kept your reinforcement limit the same. By completing one objective you gain 10% liberation and 20% for the second.
This would increase the risk without increasing the difficulty of the enemies you're fighting. This would also give a concrete endgame goal to a progressively changing world.
Of course there could be a story element where it progresses liberation faster because the enemies have less time to prepare or something like it. Or if team joel figures out a better liberation weight calculation.
While I know there's always a lot of what ifs and suggestions but I tried to think about strain on the development team and reward for players who are thinking about, what's the endgame? (beyond being a democratic helper of course)
u/The_Real_Twinbeard

https://preview.redd.it/34g1xk8p4u0d1.png?width=3500&format=png&auto=webp&s=a17a406513b2f4504d2baef8afcaec5e26a47656
VANCOUVER, BC , May 16, 2024 /CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) (" Vizsla Copper " or the " Company ") is pleased to announce the appointment of Craig Parry , Executive Chairman, to the role of Chief Executive Officer (" CEO "), and further information on the newly acquired Poplar Project ( "Poplar" or the "Project" ). The Poplar Project is home to the Poplar Deposit (the "Deposit" ), a large porphyry-related copper-gold-molybdenum deposit that is one of the most advanced pre-production copper projects in British Columbia
HIGHLIGHTS:

• CEO. Craig Parry , Executive Chairman, has assumed the role of CEO.
• Large, Gold-Rich Resource Base. The Project hosts a current undiluted indicated mineral resource of 152.3 million tonnes grading 0.32% copper, 0.009% molybdenum, 0.09 g/t gold and 2.58 g/t silver and an undiluted inferred mineral resource of 139.3 million tonnes grading 0.29% copper, 0.005% molybdenum, 0.07 g/t gold and 4.95 g/t silver.
• Development Potential. The Poplar Deposit is a large, near-surface copper deposit that extends to the top of the bedrock and is covered only by a thin veneer (5- 10m thick) of overburden. It possesses a higher-grade core that also extends to the top of the bedrock and may be beneficial to phased mining scenarios.
• Exploration Potential. Very little exploration drilling or ground geophysical surveying has been completed outside of the immediate Poplar deposit area, suggesting terrific potential for the discovery of additional porphyry-related mineralization.

" With the completion of the Universal Copper transaction, I look forward to taking a more active role in the Company's day-to-day operations " stated Craig Parry , Executive Chairman of the Company. " Since Vizsla Copper's inception, we've succeeded in adding multiple exciting development and exploration assets, and we're just getting started. Vizsla Copper is in a terrific position with the price of copper approaching $5 per pound and strong tailwinds continuing to dominate the sector."
"Now that we've had a chance to absorb and reflect on the exploration data from the Poplar Project, I'm very impressed by the development potential and exploration opportunity it provides " commented Steve Blower , Vice President, Exploration of the Company. " With a significant precious metal component, large size and location essentially at surface, this deposit is impressive
MANAGEMENT CHANGE
With the continuing evolution of the Company, Mr. Craig Parry has assumed the role of CEO and will remain Chair of the Company's Board of Directors. Craig brings a track record of creating shareholder value in previous CEO roles. Most recently, in his role as CEO of IsoEnergy, he turned an early-stage exploration spinout company into a much larger discovery success story in the uranium space. Mr. Chris Donaldson , remaining as a director of the Company, will step down as CEO effective immediately so that he can devote more time to other pursuits. The Company is appreciative of Chris's efforts as the former CEO.
POPLAR PROJECT
The 39,000-hectare Poplar Project hosts a porphyry-related copper and gold deposit, the Poplar Deposit (Figures 1 and 2). The top 10 historical drill hole intersections (>0.2% Cu) in the Poplar Deposit, ranked by Grade*Length (%Cu*m) are provided in Table 1. The top ranked drill hole was recently completed in 2021 by Universal Copper. Drill hole 21-PC-131 intersected 432.8m @ 0.42% Cu, 0.011% Mo, 0.15 g/t Au and 1.80 g/t Ag (0.58% Cueq 1,2 ) from 2.2m
The Poplar Deposit has a historical indicated mineral resource of 152.3 million tonnes grading 0.32% copper, 0.009% molybdenum, 0.09 g/t gold and 2.58 g/t silver and a historical inferred mineral resource of 139.3 million tonnes grading 0.29% copper, 0.005% molybdenum, 0.07 g/t gold and 4.95 g/t silver (above a cut-off grade of 0.20% copper). The historical mineral resource estimate was prepared for Universal Copper in September, 2021. It is not being treated as a current Mineral Resource Estimate, as the Company has not yet had it verified by an Independent Qualified Person. However, the recent date of the Universal estimate and the lack of drilling completed since that date suggests that the historical estimate is relevant. Readers are cautioned that mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
The Poplar Project is located in mining country, 35km from the Huckleberry Copper Mine. The road accessible property is bisected by a 138 Kva hydroelectric line and lies 88km from the rail head at Houston and 400km from the deep-water port at Prince Rupert by rail.
Table 1 – Top 10 Poplar Deposit Drill Hole Intersections (>0.2% Cu) Ranked by Cu%*m
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DEVELOPMENT STRATEGY
The Company will be updating the Mineral Resource Estimate for the Poplar Deposit to bring it up to current status. This will provide important inputs to planned internal scoping level trade-off studies which will be used to rank and prioritize development scenarios amongst the various projects and deposits within the Company. The results of the internal scoping studies will determine the path forward for a Preliminary Economic Analysis.
Figure 1 – Poplar Project Location Map
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Figure 2 – Poplar Project Map
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Figure 3 – Poplar Deposit Level Plan (700masl) (Drill hole traces projected in their entirety)
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Figure 4 – Poplar Deposit Vertical Longitudinal Section (Section Line on Figure 3)
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STOCK OPTIONS AND AMENDED STOCK OPTION PLAN
The Company's board of directors have approved amendments to its current 10% Rolling Stock Option Plan (the " Plan "), originally adopted on September 20, 2021 to comply with the recent changes to the TSX Venture Exchange (the " TSXV ") Policy 4.4 – Security Based Compensation. The amendments have been conditionally approved by the TSXV and are subject to shareholder ratification at the Company's next annual general meeting later this year.
The Company has granted a total of 7,500,000 stock options (the " Options ") to directors, officers, employees and consultants of the Company. The Options will have an exercise price of $0.09 , expire five years from the date of grant and shall vest over two years. The Options were granted pursuant to the Plan and are subject to regulatory approval.
QUALIFIED PERSON
The disclosure of technical or scientific information in this press release has been reviewed and approved by Ian Borg , P.Geo., Senior Geologist for Vizsla Copper. Mr. Borg is a Qualified Person as defined under the terms of National Instrument 43-101.
ABOUT VIZSLA COPPER
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered in Vancouver, Canada Williams Lake, British Columbia Carruthers Pass , all well situated amongst significant infrastructure in British Columbia British Columbia, Canada and it is committed to socially responsible exploration and development, working safely, ethically and with integrity.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements or forward-looking information relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements in this news release include but are not limited to: obtaining the necessary approvals required for the Arrangement; completion of the Arrangement and the timing thereof; the benefits of the Arrangement; exploration activities; and Vizsla Copper's growth and business strategies.
Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the Company's ability to carry on exploration and development activities; the timely receipt of required approvals; the price of copper and other metals; and the Company's ability to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include but are not limited to: the Company's early stage of development and lack of history as a stand-alone entity; the fluctuation of the price of copper and other metals; the availability of additional funding as and when required; the speculative nature of mineral exploration and development; the timing and ability to maintain and, where necessary, obtain necessary permits and licenses; the uncertainty in geologic, hydrological, metallurgical and geotechnical studies and opinions; infrastructure risks, including access to water and power; environmental risks and hazards; risks associated with negative operating cash flow; and risks associated with dilution. For a further discussion of risks relevant to the Company, see the Company's other public disclosure documents.
Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as, and to the extent required by, applicable securities laws.
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SOURCE Vizsla Copper Corp.
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Today, I'm excited to announce the next chapter of Superset. Before we discuss what's next, let's look at how Superset got here today.

How Superset was started

Back in September of 2023, Superset was just an idea.
At the time, the fitness app space was already crowded with dozens, if not hundreds, of apps. There were a handful of great apps, but they all lacked the cohesive experience that other wearables offer.
Personally, I didn't want to use five different apps to track my exercise, sleep, and stress. I felt that the Apple ecosystem lacked an app that could fully utilize Apple Health and match the level of engineering that was put into the hardware of the Apple Watch.
So, I posted on AppleWatch (link here) to see if people would be interested in something like Superset, and to my surprise, hundreds of people instantly signed up for the waitlist.
An early prototype of Superset
Over the next two months, I was heads down turning Superset into a reality. At the end of November 2023, Superset was released into closed Beta. After iterating rapidly with the help of the first batch of beta users, we released Superset to the App Store in January 2024.
Since then, Superset has grown rapidly, and we have released major features like Strength Builder, Journal, and Energy Bank. Thank you for reporting bugs and sharing suggestions on our feedback board. Without your help, Superset would not be where it is today.

Vision & Focus

While many of you have mentioned that Superset is the equivalent of Whoop or Garmin for the Apple ecosystem, our ultimate goal is not to build another fitness app.
From day one, our vision has been to build a companion that can help you improve your health holistically, from sleep to exercise to nutrition. To understand the human body completely, you must look at the entire picture, not just the parts.
Our health is made up of our genetics, habits, environment, and many other factors that change daily. With new advancements in hardware and software, it's finally possible to build a system that can understand the human body holistically and empower you to improve your healthspan.
To reflect our long-term vision, we are changing our name from Superset to Bevel
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We understand that this is a very ambitious goal, and stay committed to keeping the app simple and intuitive. It's something that's never been done before, so we need you to trust us and join us on this journey.

What's next?

We have an exciting summer roadmap ahead. We're working on features to unlock new areas of health, such as body measurements, biomarkers, training goals, and nutrition.
At the same time, we'll revamp the activities view to include more metrics, redesign the Apple Watch app, upgrade Strength Builder V2, and add support for additional languages.
With today's update, the app's name and icon have changed. You can also choose a different app icon under Settings → Appearance. Over the next few weeks, the app's visual design will evolve to match the new brand. You can check out the new website here.
Lastly, we're looking for builders and creatives to come and help us build the future of Bevel. As always, if you have any suggestions or bug reports, please add them to the feedback board. Thanks again for your support. We're just getting started. 💪

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70,000 meters completed, highlights include:
349.0 m of 0.77% Cu , including 232.0 m of 0.86% Cu (AZ23292)
382.5 m of 0.54% Cu , including 74.0 m of 0.86% Cu (AZ23277)
TORONTO, May 16, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to provide the assay results from the currently completed drill season at the Los Azules project in Argentina. The prime objectives of this season’s infill drilling campaign were: 1. to confirm the size and grade of the deposit as compared to the 2023 PEA estimate and upgrade the resource categories for the upcoming feasibility study; 2. test for extensions of mineralization beyond the current pit shell; and 3. explore our large property package for other mineralized areas.
Based on the assay results received to date, our first objective appears to have been met. Initial interpretation suggests that our infill drilling will result in an increase in Measured and Indicated resources and an overall mineral inventory within 5% of the PEA estimate. Testing for extensions beyond the planned pit has successfully encountered mineralization both to the north and to the south. Primary mineralization was intercepted (202.0 m of 0.20% Cu) over 400 meters north of last year’s deep exploration hole, confirming its extension at depth a significant distance to the north. Exploration south of the planned pit has intercepted the principal mineralized intrusive more than 700 meters south of previous drill intercepts and indicates that prospective intrusives continue well to the south of the pit.
Exploration over our property has produced an intriguing target, late in the season. Initial results of a concession-wide regional mapping and sampling campaign have identified strong evidence of a large porphyry system 3 kilometers east of the Los Azules deposit. Porphyry-style veining and quartz vein stockworks with copper oxide mineralization have been recognized within this new target, with assay results pending.
Additionally, this news release covers all results from the first half of the 2023-24 drill program (see Table 1 ). Final results will be published when all the geochemistry is completed.
The objective of the 2023-2024 drilling campaign is to collect all the necessary information to support the completion of the Los Azules Feasibility Study by early 2025. This information continues to arrive and will be processed in the following months. Resource drilling is focused on converting all the mineralization to be mined in the first 5 years to Measured and Indicated resource, to increase confidence during the payback period. Geotechnical, metallurgical, hydrogeological, exploration, and condemnation drilling are also being performed.
Highlights

• Hole AZ23292 returned an intercept of 349 m of 0.77% Cu (approx. true thickness). The Enriched zone portion of this hole extends over 346 meters and includes an intercept of 232 m of 0.86% Cu
• Hole AZ23277 has an intercept of 382.5 m of 0.54% Cu (approx. true thickness). The Enriched zone portion of this hole extends over 306 meters with a grade of 0.61% Cu and includes an intercept of 74 m of 0.86% Cu

Results
Results are summarized in two schematic cross sections ( Figures 2 and 3 ), which include simplified interpretations of the Overburden, Leached, Enriched and Primary zones. The Enriched mineral zone refers to the enrichment of a copper deposit by precipitation-derived water circulation that carries copper minerals downward through the rocks to accumulate in a thick, often horizontal “blanket”. Immediately above the Enriched zone is the Leached zone, from which copper was removed and transported. Weathering and oxidation often aid in this process. Below the Enriched zone, the Primary (or Hypogene) zone is formed by ascending copper-rich fluids having a much deeper magmatic origin. The green line on the sections indicates the pit floor of the 30-year pit shell from the 2023 NI 43-101 Preliminary Economic Assessment (PEA).
Figure 1 presents a plan view of the location of two sections and the holes reported. Adjacent cross sections are located 50 m apart from each other, starting with the lowest numbered section at the south end of the deposit and progressing to the north.
Figure 1 – Plan View Location of Cross-sections and Drill Holes Reported in this News Release
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Figure 2 displays an intercept of 349 m grading 0.77% Cu (AZ23292)
and includes 232 m grading 0.86% Cu within the Enriched zone. This hole extends higher-grade Enriched zone mineralization in the center of the section to the east and at depth.
Figure 2 - Section 40 - Drilling, Mineralized Zones and 30-year PEA Pit (Looking North)
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Figure 3 highlights a 382.5 m interval grading 0.54% Cu (AZ23277) and includes an interval of 74 m grading 0.86% Cu within the Enriched zone. This hole extends higher-grade mineralization in the eastern portion of the Enriched zone to the east and at depth.
Figure 3 - Section 52 - Drilling, Mineralized Zones and 30-year PEA Pit (Looking North)
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Growing the Deposit
Exploration hole AZ23241 ( Figure 4 ) intersected a long interval of low-grade mineralization in the Primary Zone ( 202.0 m of 0.20% Cu ) and began to enter higher-grade mineralization at the end of the hole ( 12.0 m of 0.44% Cu ). This hole is located completely outside of the 2023 PEA base case mineable pit shell. This hole is over 400 meters to the north of exploration hole AZ22174, also located outside of the 2023 PEA base case mineable pit shell, which encountered 1,052.0 m of 0.29% Cu including 480 m of 0.42% Cu ( Figure 4 ). These intercepts suggest that primary mineralization continues at depth a significant distance to the north. Exploration drilling south of the deposit has extended the presence of the early mineral porphyry more than 700 meters south of previous drilling and well outside of the southern pit boundary. This porphyry is host for the majority of the mineralization at Los Azules and encountering it a significant distance farther south indicates that the deposit may also continue in this direction. Assays for these holes are pending.
A comprehensive structural model for the deposit has been completed that will provide a better understanding of structural controls on the deposit and aid in future exploration work. Field verification of a previous property-wide structural study using satellite information was carried out in January and has refined the identification of nearby exploration targets.
Figure 4 – North-South Longitudinal Section (Looking East) With Deep Exploration Holes to the North and Exploration Holes to the South With Early Mineral Porphyry Shown in Red
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Indications of Another Porphyry Copper System Nearby
To date, geological mapping and geochemical sampling has been focused primarily near the Los Azules deposit and only covers roughly 40% of our large concession. To address this limitation, a mapping and sampling campaign was begun in December, to obtain 100% coverage of our concession.
Early results of this work have identified a large new porphyry system 3 kilometers east of Los Azules. Preliminary work has identified porphyry-style veining and alteration, indicating the presence of a porphyry copper system. Areas with strong quartz vein stockworking and the recognition of copper oxides at surface add to the prospectiveness of this newly identified area ( Figure 5 ).
Figure 5 – Quartz Stockwork Veining and Copper Oxides Identified at Surface in Porphyry Copper System 3 Kilometers East of Los Azules
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Table 1 summarizes copper (Cu), gold (Au) and silver (Ag) assay results received from October 2023 to December 31, 2023.
Table 1 – Recent Los Azules Drilling Results
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Technical information
The technical content of this press release has been reviewed and approved by Darren King, Director of Exploration of McEwen Copper, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
All samples were collected in accordance with generally accepted industry standards. Drill core samples, usually taken at 2 m intervals, were split and submitted to the Alex Stewart International laboratory located in the Province of Mendoza, Argentina, for the following assays: gold determination using fire fusion assay and an atomic absorption spectroscopy finish (Au4-30); a 39 multi-element suite using ICP-OES analysis (ICP-AR 39); copper content determination using a sequential copper analysis (Cu-Sequential LMC-140). An additional 19-element analysis (ICP-ORE) was performed for samples with high sulphide content and that exceeded the limits of the ICP-OES analysis.
The company conducts a Quality Assurance/Quality Control program in accordance with NI 43-101 and industry best practices using a combination of standards and blanks on approximately one out of every 25 samples. Results are monitored as final certificates are received, and any re-assay requests are sent back immediately. Pulp and preparation sample analyses are also performed as part of the QAQC process. Approximately 5% of the sample pulps are sent to a secondary laboratory for control purposes. In addition, the laboratory performs its own internal QAQC checks, with results made available on certificates for Company review.
Table 2 – Hole Locations and Lengths for Los Azules Drilling Results
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ABOUT MCEWEN COPPER
McEwen Copper is a well-funded, private company which owns 100% of the large, advanced-stage Los Azules copper project, located in the San Juan province, Argentina. McEwen Copper is a 47.7%-owned private subsidiary of McEwen Mining, which has the ticker MUX on NYSE and TSX.
Los Azules is being designed to be distinctly different from a conventional copper mine, consuming significantly less water, emitting much lower carbon and progressing towards carbon neutral by 2038, and being powered by 100% renewable electricity once in operation. In June 2023, an updated Preliminary Economic Assessment (PEA) was released, which projects a long life of mine, short payback period, low production cost per pound, high annual copper production and a 21.2% after-tax IRR.
ABOUT MCEWEN MINING
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. McEwen Mining also holds a 47.7% interest in McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The Company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$220 million. His annual salary is US$1.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc.
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Photos accompanying this announcement are available at
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4.4 million CAD in cash generated from the sale
Now the deal is done and dusted! As previously reported by Goldinvest.de, Element79 Gold (CSE ELEM / WKN A3EX7N) is selling the former main project of its Nevada project portfolio Maverick Springs to the Australian company Sun Silver. The process has dragged on, but now CEO James Tworek’s company can announce the exercise of the binding option agreement to complete the sale of Maverick Springs!
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Element79 acquired the project in 2021 and has since developed it further. Among other things, a resource update was carried out, certifying Maverick Springs inferred resources of 3.71 million ounces of gold equivalent in accordance with the Canadian NI 43-101 standard.
Element79 had already started looking for financing partners for Maverick Springs last year, as the formerly producing Lucero gold mine was already coming into focus at that time. In August 2023, the company then negotiated and later signed the binding option agreement with Sun Silver.
Proceeds from the sale support Lucero development
Element79 is now focusing almost exclusively on the development of the high-grade Lucero project in Peru, where it sees the potential for a return to production in the foreseeable future. The proceeds from the Mavericks Springs transaction come at just the right time. According to Element79, the adjusted costs for the original acquisition of Maverick Springs were CAD 3.337 million, while the project can now be sold for CAD 5.033 million. This means that the value of Maverick Springs has been increased by CAD 1.696 million. This means an ROI (return on investment) of 51% – within just 28 months, as Element79 Gold calculates.
As the company further explains, the sale will generate a total of CAD 4.4 million in cash. In addition, Element79 will receive 3.5 million Sun Silver shares at AUD 0.20, which represents a fair market value of AUD 700,000. It is expected that the Sun Silver shares will be tradable on the ASX from approximately May 15.
According to Element79, it will use CAD 2.2 million of the proceeds from the sale to repay a loan in connection with the acquisition of the Nevada projects. The remaining capital will be used to fund other corporate projects and operations and to reduce capital debt and liabilities.
“The successful completion of the transaction underscores Element79’s unwavering commitment to executing its strategic plan,” said James Tworek, CEO of the company. “This is a critical milestone in the Company’s history: it is a testament to our team’s ability to create value through project execution and indicates a potential inflection point in our ongoing mission to build a stronger and more focused company; it underpins careful financial management by cleaning up the balance sheet from past efforts; and it provides non-dilutive capital to support operations and advance strategic exploration programs on our core properties to create further value for our investors.”
Conclusion: With the Maverick Springs transaction, we believe Element79 has not only shown that it is possible to create value for shareholders, but also that it is now possible to intensify efforts in relation to the ongoing exploration and optimization of the main Lucero project. This should be all the easier as the company is now in a much more stable financial position. We are excited to see what Element79 Gold can achieve this year.

Hello everyone,
I have a 2008 BMW 335i (N54), 6-speed manual with as the title suggests, 138,000 miles. This car has been in my family its entire life and has never had a carbon cleaning performed before. Its completely stock, 90% highway miles. At the point of service it had a tank to tank (calculated) average of 25.09 mpg, over the last 38,000 miles (for as long as I have recorded) and a maximum of 27.6, and a minimum of 21.9 over those 38k miles.
A important thing to note is the car sat in our garage for 8 years completely untouched. Life is crazy sometimes, until it became my daily in April of 22. Its between then and today May 16 24 that I have accumulated these miles. Came out of storage with 100,3xx miles.
The reason for the service. It still pulled well if you gave it the beans but it didn't idle as well as it used to, or at least as I remembered as a kid. It also felt like it would run out of steam at and beyond 5.75k rpms. with a less than ideal power delivery especially in the mid range. Not very linear. Low down, which is where it spent most of its life it was happy.
I did this entire job by myself in my garage, as I do with every other job on the car. Im not going to list how and what I used as there is already a bunch of that info free and out there, but if anyone asks any questions id be happy to answer them.
After doing the job, the best I can describe it is that the car has a sport mode that it’s stuck in. It pulls way harder than before. All the way to redline, and idles much cleaner.
Also fuel economy, first tank since the job, I averaged 28.3 (calculated) . My highest ever, and that was with me driving it that bit more spiritedly. Yesterday I did a round trip of around 340 miles and averaged 31.3 (trip). However, my trip and calculated values are generally pretty close. Haven’t filled up, but for the first time ever I saw over 500 miles on the est range screen. Pretty cool. Especially with gas prices right now. I do also run 93 every single time.
YouTube vid has some better angles.
https://youtube.com/shorts/2urKpYA8jOo?feature=shared
When I finished
https://youtube.com/shorts/jjGr2r252I8?feature=shared

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Toronto, Ontario--(Newsfile Corp. - May 16, 2024) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA:**A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo"** or the "Company") Year-End 2023 Reserves Report ("Reserves Report"), with an effective date of December 31, 2023, is summarized below. The Reserves Report was completed by Petrotech and Associates, an independent qualified reserves evaluator based in Calgary, Alberta, and was prepared in accordance with the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). The evaluation was conducted using the Sproule December 31, 2023, Price Forecast for Heavy Crude Oil (12°API) at www.sproule.com, adjusted for each property.
The Reserves Report includes Argo's interest in the three current producing oil wells at Lindbergh and Lloydminster, Alberta; and three undeveloped planned development oil wells at Lindbergh. The report does not include the second oil well at Lloydminster planned for summer 2024, as this oil well was not confirmed until 2024. The following table summarizes the information contained in the Reserves Report, with an effective date of December 31, 2023:
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Table Notes: (1) "Gross Reserves" are the Company's working interest reserves before the deduction of royalties. (2) "Net Reserves" are the Company's working interest reserves after deductions of royalty obligations, plus the Company's royalty interests. (3) Mbbl are thousand barrels (4) MM$ are millions of dollars (5) The numbers in the table may not add due to rounding.
The disclosures contained in this report represent information related to the Company's reserves, future net revenue, and discounted value of future net cash flows as of December 31, 2023.
The Company has filed its Form 51-101 F1 Statement of Reserves Data and Other Oil and Gas Information ("Form F1"), Form 51-101 F2 Report on Reserves Data by Independent Qualified Reserves Evaluator ("Form F2"), and Form 51-101 F3 Report of Management and Directors on Oil and Gas Disclosure ("Form F3") for the year ending December 31, 2023. These documents are also posted on the Company's website at www.argogold.com and SEDAR+ at www.sedarplus.ca.
About Argo Gold
Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com)(CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS).
Judy Baker, CEO (416) 786-7860 [jbaker@argogold.ca](mailto:jbaker@argogold.ca) www.argogold.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Information Cautionary Statement Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to the financing not being completed in its entirety, or at all, delays or uncertainties with drilling and surface preparation work, and not achieving hoped for exploration success. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available.
*To view the source version of this press release, please visit *https://www.newsfilecorp.com/release/209447
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