Category Archives: Life Extension

The nation is currently weathering through its second year of a lifeguard shortage, forcing pools around the country to either shorten their hours, reduce capacity, or close altogether. And despite social distancing, mask regulations and other COVID-19 restrictions loosening up, some Capital Region pools have not been immune to the struggle.

Schenectady and Clifton Park are just twocommunitiesstruggling to fill their lifeguard positions.

We have a good team of lifeguards right now but we could probably definitely stand to have a few more, said Julie Rouse, the unit director of the Rotterdam Boys & Girls Clubhouse and aquatics director of Schenectady City Pools.

The Boys & Girls Clubs of Schenectady employ the lifeguards for the citys pools, including the Central Park Pool, the Front Street Pool, the Quackenbush Pool and the Hillhurst Pool. A few years ago, when lifeguard numbers were normal, their team would be made up of approximately 50 to 60 lifeguards. Now their numbers are in the 30s.

We have 35 lifeguards now and I would love to see us have 40 to 42 lifeguards, said Rouse.

Due to needed repairs, Hillhurst Pool will remain closed this season. The decision, made by the city of Schenectady, brought both disappointment to the community and slight relief to the strain of filling lifeguard positions.

Im always sad to see a swimming pool close because that means that there is less of an opportunity in the summer for a neighborhood [to swim], said Rouse. As far as staffing goes, it was certainly a little sigh of relief.

The Town of Clifton Park has faced similar challenges with its three municipal pools, Country Knolls, Barney Road and Locust Lane.

Phil Barrett, the town supervisor, said historically the pools end their seasons on Labor Day. But in recent years, this has not been possible due to the shortage of lifeguards. Barrett also said usually one of the pools can remain open until the end of the season, but only because the other two pools close early and those guards are recruited to the remaining pool.

The varying ages of guards pose an issue within itself. Many high school student guards are still finishing the school year as the pools are opening for the summer. For most of them, the school day ends past 2 p.m., therefore college-aged guards are relied on to cover the hours before that.

Additionally, many college students are needed to fill head lifeguard and other management positions and to teach swim lessons. But many of them have internship commitments or will leave for college before the pool season concludes.

Lauren Sposili, 21, one of the oldest lifeguards at Locust Lane Pool, has worked there for about five years and was promoted to a head guard position last summer. She said she is still seeing the effects of the COVID-19 pandemic on the number of lifeguards available. Sposili said that the two-year gap of time when lifeguard training courses werent availablerestricted adolescents from getting the required lifeguard certification.

I definitely would say the atmosphere has changed. I mean, the guards, were trying to do our best with the shortage of employees, were all working as many hours as we can with our busy schedules. So were trying to kind of help out as much as we can, Sposili said.

Lifeguards at Schenectadys pools will undergo a similar strain. Ideally, the lifeguards would be working six hours each day. Because of the lack of lifeguards, however, they can now expect to work a minimum of five 8-hour days every week. Although it will be extra work, Rouse said the lifeguards are ready to take on the job.

Theyre pretty upbeat and positive, and its something we communicate a lot about, said Rouse. In order to protect the lifeguards from over-exhaustion, sun exposure, and other dangers, the pools have multiple supervisorswho will be watching over the pools and the guards tomake sure they are drinking enough water, getting enough rest, and feeling steady and alert. All supervisors are willing and ready to step up into a lifeguard chair if need be.

The pools are providing various incentives to try to draw people to lifeguarding. One of the key challenges has been training. Not only do training courses take a lot of time and energy, but they are also expensive, costing upwards of $400 or sometimes more for those looking to lifeguard at a State Park beach or waterfront.

In all of the regions except for Long Island, you have to show up having American Red Cross certification in lifeguarding, they want the waterfront extension, you need first aid CPR, and AED so you have multiple certifications that you need to take and all of those cost (s), said Ryan Clark, the president of the New York State Lifeguard Corps, which employs approximately 1,100 lifeguards at 87 parks and campgrounds managed by the states Office of Parks, Recreation and Historic Preservation and Department of Environmental Conservation. The initial cost up-front could be prohibitive.

To try to mitigate the expense of the training, the Schenectady pools are offering a payment plan to interested lifeguards. Rather than being required to pay for the training course upfront, they have the option of paying gradually over time, lessening the financial burden.

Additionally, the American Red Cross is lending a helping hand to Capital Region pools, knowing how much their businesses are struggling.

Now, many facilities are faced with recruiting, hiring and training 100% of the staff required to operate safely including lifeguards, Water Safety Instructors and managers, Abigail Adams, regional communications director of the American Red Crosss Eastern New York Region, said in a statement.

Saratoga County partnered with the American Red Cross to offer free lifeguard training classes to adolescents 15 and older this past May and early June at the Ballston Spa High School and Clifton Parks Locust Lane Pool. Barrett was happy to see 28 participants and looks forward to hopefully offering this free opportunity in the future.

Competition with other industries has also proven to be a challenge.

Currently, staff shortages go beyond the aquatic industry and the increased competition for workers has made it difficult for aquatic facilities to hire and retain staff, Adams said.

As other companies, such as Target and Costco, raise their starting wages, New York pools and beaches are finding it difficult to draw in potential hires, as they can easily find less physically laborious jobs for the same or higher pay.

With the significant increases that minimum wage has gotten over the years and, really, deservedly so we had our competitive advantage really erased, said Clark. You can get a job at Costco for $17 you dont need to save somebodys life, you dont need to be fit, you dont need to know first aid CPR or anything, so I think the job had become less attractive for the money.

To combat this, New York State Governor Kathy Hochul announced a significant pay increase for state lifeguards on Wednesday. Previously, the starting pay rate for lifeguards working at upstate New York State Park beaches and pools and Department of Environmental Conservation campgrounds and day-use beaches was $14.95 per hour. Now, after a 34% increase, they will be making $20 per hour.

Were so appreciative that she realized what an issue this was getting lifeguards into chairs this summer, said Clark.

Lifeguards are needed across the nation now more than ever before.

There are drownings that are happening day after day after day in the same locations and that is something that we really need to work together, not only in our own community and backyard but really across the board because its a national problem, said Rouse.

But becoming a lifeguard will not only help pools struggling to stay open, it will also teach skills that can be utilized in other areas of life, outside the workplace. Sposili emphasized the importance of such skills in the community at a pool party or a barbeque, for example. Something may go wrong in one of those scenarios, but there may not be someone present that knows what to do.

Having that skill set of the lifeguard training as well as the CPR and first aid can help someone you love or someone youre close to, Sposili said.

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Summer 2022: The hot job is saving lives - The Gloversville Leader Herald - Gloversville Leader-Herald

Carbon is an essential element for all life forms on Earth. The intake and output of carbon are necessary components of all plant and animal life, whether these life forms absorb carbon to help manufacture food or release it as part of respiration. Maintaining the stability of the carbon cycle is therefore crucial for the well-being of living species. Yet, human activities such as burning fossil fuels and cutting down forests are disrupting the balance of the cycle, releasing huge amounts of greenhouse gases and contributing to climate change. How does deforestation affects the carbon cycle and what are some of the solutions that could reduce the impact of this phenomenon?

The carbon cycle describes the process in which carbon atoms continually travel from the atmosphere into different organisms in the Earth and then back into the atmosphere, over and over again. These atoms encounter several major reservoirs along the cycle, including the atmosphere, oceans, lithosphere, terrestrial biosphere, aquatic biosphere, as well as fossil fuels. Since the Earth is a closed system, the total amount of carbon found here remains unchanged. However, the amount of carbon in a specific reservoir can change over time as carbon moves from one reservoir to another.

Maintaining a balance of carbon among the different reservoirs which requires the amount of carbon naturally released from reservoirs to be equal to the amount they absorb is imperative. Yet, through human interventions first and foremost deforestation the carbon cycle is facing a loss in balance, with more carbon gases released into the atmosphere under the clearance of forests.

Figure 1: The Carbon Cycle

Deforestation is the conversion of forested areas to non-forest land use such as arable land, urban use, logged area, or wasteland. Tough its rate has been declining substantially, deforestation remains a pressing problem that cannot be ignored. Among the direct causes of deforestation is agricultural expansion, with forests being converted to cropland and pasture in order to grow crops and raise livestock, infrastructure expansion resulting from urbanization as well as logging both illegal and legal.

Since 1990, humans have cleared around 420 million hectares of forests worldwide. Tropical rainforests such as the Amazon rainforest in South America, the Congo rainforest in Africa, as well as the tropical islands in Southeast Asia, are among the most affected by deforestation. Around 17% of the Amazon has been lost in the last 50 years, mainly owing to forest conversion for cattle ranching. In 2019, 1.17 million acres of primary forest disappeared in Congo, second only to Brazils total deforestation that year. This continuous and ongoing clearance of forests has a major impact on the environment and the carbon cycle.

Figure 2: Annual Deforestation, 2015

You Might Also Like: 8 Phenomenal Rainforest Facts That Will Blow Your Mind

Carbon travels from the atmosphere to biomass reservoirs through photosynthesis: in this process, plants absorb carbon dioxide and sunlight to create fuel required for the development of their structures, including tree trunks, roots, branches, and leaves.

Along with oceans, forests are important carbon sinks, capable of holding 861 gigatons of carbon. The Amazon, the worlds largest rainforest, is a natural carbon sink and provides one of the greatest services for planet: absorbing and storing carbon dioxide from the atmosphere. Its ability to do so is crucial in our fight against the climate crisis. In trees and carbon-rich solid, the forest stores the equivalent of four to five years worth of human-made carbon emissions, up to 200 gigatons of carbon. Yet, as a result of persistent deforestation and a sharp increase in wildfires, the Amazon has been converted into a source of carbon, and is now emitting a greater amount of carbon dioxide than it is absorbing. Forest fires produce three times more carbon than the forests can absorb, thus creating a negative loop. As Yadvinder Malhi a professor of ecosystem science at the University of Oxford explains: If our sink is disappearing argues Malhi youre losing the service that the biosphere provides.

This is just an example of how human interventions have interfered with the balance and stability of the carbon cycle. Through a technique called slash-and-burn a farming method that involves the cutting and burning of plants in a forest or woodland the carbon stored in trees is released, returning back to the atmosphere. Soil, without trees or vegetation, will also become a large source of accumulated carbon emissions, especially when the soil is rich in partially decayed organic matter known as peat. Without forest cover, previously inundated peat soil is left exposed and wil gradually oxidise and decay. During these processes, huge amounts of carbon stored in the soil are released back into the atmosphere.

Depending on the forest-clearing method, the release of carbon from the biosphere back to the atmosphere may take place at different speeds. For example, clearance by burning causes immediate release of carbon. However, twigs, branches or stumps, and many other components of the forest biomass that are left after harvesting will decay over time, releasing stored carbon back into the atmosphere in a much slower process that takes years or even decades.

Afforestation and reforestation are common ways to restore forests. The first one is the conversion of long-time non-forested land into the forest, while reforestation refers to the replanting of trees on more recently deforested land. Since most emissions of carbon from deforestation occur immediately, afforestation and reforestation might not be adequate in removing carbon from the atmosphere due to their slow process and should be adopted only as a long-term solution. In the meantime, other short-term solutions are needed.

To begin with, local governments should provide financial incentives and actively work with forest communities to encourage the sustainable harvesting of non-wood forest products such as rubber, cork, produce, or medicinal plants to substitute wood. Low-impact agricultural activities such as shade farming a farming practice that leaves many of the original rainforest trees to provide shade for shade-loving crops can also be promoted to the communities to further discourage deforestation.

Unfortunately, most conservation and protected areas in the world are not well-funded and thus more prone to deforestation. To tackle this issue, the World Wide Fund for Nature (WWF) initiated the Project Finance for Permanence (PFP), a programme that creates funds to support the proper management of protected areas around the world as well as promote the creation of new ones.

Besides solutions on a local scale, international organisations such as the United Nations play a huge role. A great example of an effective campaign to reduce deforestation is REDD (Reducing Emissions From Deforestation and Forest Degradation), a collaborative programme first initiated by the UN in 2005. REDD provides incentives to change the ways in which forest resources are used. The programme funds environmentally-friendly forest management, restricts poor forest management, and introduces carbon trading as an economic incentive.

REDD+ an extension of the REDD programme was introduced in 2013 by the United Nations Framework Convention on Climate Change (UNFCCC). This climate change mitigation solution puts further emphasis on the role of conservation, sustainable management of forests and enhancement of forest carbon stocks in developing countries by developing and implementing national action plans and public policies. Once the action plan of a country is verified, REDD+ can provide financial support to implement strategies to tackle forest degradation and reduce deforestation.

As of January 2020, a total of 50 developing countries have submitted a REDD+ forest reference level or forest reference emission level for technical assessment to UNFCCC, covering more than 70% of the total forest area in developing countries. Through periodical assessments, the UNFCC can keep track of the conservation progress made by the countries, providing further support and assistance when necessary.

EO Position: The problem of deforestation will continue to be an ongoing challenge that warrants our attention. Besides its effect on the carbon cycle, the detrimental impacts of this phenomenon on the Earths biodiversity, water cycle, soil, and public health need to be addressed as well. Aside from the action taken by local government and international organizations, all of us could also take part in protecting the forest by purchasing products that are certified as sustainably produced or harvested. With substantial help from different parties, the negative impact brought by deforestation could certainly be alleviated, if not eliminated, in the coming future.

You Might Also Like: 10 Deforestation Facts You Should Know About

More:

How Does Deforestation Affect the Carbon Cycle? - EARTH.ORG

WALTHAM, Mass., June 01, 2022 (GLOBE NEWSWIRE) -- Viridian Therapeutics, Inc. ( VRDN), a biotechnology company advancing new treatments for patients suffering from serious diseases underserved by current therapies, today announced that Jonathan Violin, Ph.D., President and Chief Executive Officer of Viridian, will participate in two fireside chats at the Jefferies Healthcare Conference being held in New York on June 8 -10, 2022 and the JMP Securities Life Sciences Conference in New York on June 15 - 16, 2022.

The live webcast and a replay of the fireside chats can also be accessed under Events in the Investors section of the Viridian Therapeutics website.

About Viridian Therapeutics

Viridian Therapeutics is a biotechnology company advancing new treatments for patients suffering from serious diseases but underserved by todays therapies. Viridians most advanced program, VRDN-001, is a differentiated monoclonal antibody targeting insulin-like growth factor-1 receptor (IGF-1R), a clinically and commercially validated target for the treatment of thyroid eye disease (TED). Viridians second product candidate, VRDN-002, is a distinct anti-IGF-1R antibody that incorporates half-life extension technology and is designed to support administration as a convenient, low-volume, subcutaneous injection. TED is a debilitating autoimmune disease that causes inflammation and fibrosis within the orbit of the eye which can cause double vision, pain, and potential blindness. Patients with severe disease often require multiple remedial surgeries to the orbit, eye muscles and eyelids. Viridian is based in Waltham, Massachusetts.

Investor and Media ContactJohn JordanViridian TherapeuticsVice President, Investor Relations& Corporate Communications617-272-4691[emailprotected]

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Viridian Therapeutics to Participate in June Investor Conferences - GuruFocus.com

ROCHESTER, Mich., June 23, 2022 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the Company)(Nasdaq: OPRX), a leading provider of point-of-care technology solutions helping patients start and stay on therapy, today announced a major extension of its omni-channel platform reach through an exclusive partnership with Equals 5. The new extension is the only healthcare provider (HCP)-level solution providing targeted physician engagement on social media platforms. The partnership marks the first time real-world data from healthcare and social data can be used in combination to deliver valuable treatment information to physicians on social media platforms.

We chose to collaborate with OptimizeRx because we were looking for a partner with capabilities and data that, together, could enhance both our technologies, creating true omni-channel coverage in reaching HCPs, commented Ron Scalici, co-founder of Equals 5. OptimizeRxs application of AI to real-world data assets that can determine the right time to engage HCPs at the moment their patients most need it is unique in the market, and perfectly complements the technology weve built which enables us to reach those same HCPs on social media. We couldnt be more excited about the possibilities to make meaningful connections between life sciences and physicians this way.

The only HCP-level engagement solution offering true-omni channel reachLife sciences organizations can now confidently deliver the same message on webpages, social media, and clinical workflow from within a single healthcare communications platform. The Companys Therapy Initiation and Persistence Platform, is the only HCP engagement solution that offers true omni-channel reach at the physician-level including:

allowing for true surround sound of brand awareness for life sciences.

Steve Silvestro, chief commercial officer at OptimizeRx, stated, Were extremely impressed by the Equals 5 technology. On initial testing, were seeing average match results for up to 84% of the HCPs that our clients have prioritized to reach on social media. Our partnership means that life sciences companies now have a true option for the reinforcement of their messaging that is specific to an HCPs specialty across all digital channels from one entry point: our Therapy Initiation and Persistence Platform. This powerful platform enhancement creates a new avenue for specialty brand amplification outside of the EHR.

Organizations taking a highly structured approach to their social media strategies see 20-40% higher engagement with their audiences overall, according to a recent McKinsey analysis(1). What this means for life sciences companies is the ability to truly engage with their customers on social media in a more meaningful and productive way with the ability to execute on more integrated engagement strategies.

Will Febbo, OptimizeRx CEO, noted, The launch of this extension is part of the transformational digital shift in healthcare that we are leading. The offering is a true industry game changer and opens the opportunity for life sciences companies to broadly reach HCPs through social media channels, including Facebook and Instagram. Our Therapy Initiation and Persistence Platform is the only HCP engagement solution that combines true interoperability between longitudinal patient data, the EHR and now social media to deliver healthcare resources to physicians and patients based on an HCPs actual patient population.

About Equals 5Equals 5 is an all-in-one pharma marketing platform that reaches physicians where they spend most of their free time on social media. Equals 5's proprietary engine allows to target HCPs by NPI number, giving pharma marketers the ability to serve specific healthcare providers with relevant and timely information to help them make the right decisions for their patients.

About OptimizeRxOptimizeRx is the best-in-class health technology company enabling care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. Connecting over 60% of U.S. healthcare providers and millions of their patients through the most intelligenttechnology platform embedded within aproprietary digital point-of-carenetwork, OptimizeRxhelpspatients start and stay on their medications.

For more information, follow the company onTwitter,LinkedInor visitwww.optimizerx.com.

Important Cautions Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as anticipates, believes, estimates, expects, forecasts, intends, plans, projects, targets, designed, could, may, should, will or other similar words and expressions are intended to identify these forward-looking statements. All statements that reflect the Companys expectations, assumptions, projections, beliefs, or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Companys growth, business plans, and future performance. These forward-looking statements are based on the Companys current expectations and assumptions regarding the Companys business, the economy, and other future conditions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as required by applicable law. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition, and other risks summarized in the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its subsequent Quarterly Reports on Form 10-Q, and its other filings with the Securities and Exchange Commission.

OptimizeRxContactAndy DSilva, SVP Corporate Financeadsilva@optimizerx.com

Media Relations ContactMaira Alejandra, Media Relations Managermalejandra@optimizerx.com

Investor Relations ContactAshley RobinsonLifeSci Advisors, LLCarr@lifesciadvisors.com

References:(1) Social Media as a Service Differentiator: How to win - https://www.mckinsey.com/business-functions/operations/our-insights/social-media-as-a-service-differentiator-how-to-win

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OptimizeRx Brings Real-World Evidence-Driven Engagement Programs to Social Media With New Exclusive Partnership - GlobeNewswire

The mining giant BHP has abandoned plans to keep mining coal at Mt Arthur in New South Wales until 2045 and will close the mine down in 2030 after failing to sell it.

Environmentalists and shareholder activists welcomed the decision to close the mine in the Hunter Valley rather than sell it on to another operator. But they said BHP should close the mine in 2026, when its current permit expires, rather than extending its life for another four years.

BHP put the mine, the largest in NSW, on the market in August 2020 as part of a wider project to divest from thermal coal.

But while the company successfully offloaded its stakes in the Cerrejon mine in Colombia and BHP Mitsui Coal in Queensland earlier this year, it said efforts to sell Mt Arthur did not result in a viable offer.

It is believed that while there were bidders for the mine, they wanted BHP to pay for rehabilitation of the site when it closes down a cost the company has on its books at US$700m, but which some activists believe will be far higher.

BHP will abandon an application on foot with the NSW government to increase the size of the mine site, which be required to keep it operating until 2045.

Instead, it will ask for permission to keep mining within existing boundaries until the mine shuts on 30 June 2030.

About 2,000 people are employed by the mine, but BHP said it hopes there will continue to be jobs at the site during rehabilitation, which it estimates will take 10 to 15 years.

Thank you for your feedback.

Carmel Flint, national coordinator at the Lock the Gate Alliance, said the planned closure was welcome news but she was still of the view that the mine should close in 2026 as previously planned the world cant afford to keep delaying climate action.

Its taken too long for BHP to read the writing on the wall, she said.

Had the company committed to shutting down Mt Arthur instead of trying to sell it several years ago, it could have already spent that time retraining and supporting workers instead of delaying the inevitable.

This is a very significant step by BHP, and the absence of buyers for the mine sends an incredibly strong message that thermal coal is in decline globally, as customer countries act on climate change.

BHPs main rival, Rio Tinto, completely divested from coal in 2018.

However, while BHP has committed to divesting from thermal coal it intends to retain mines that extract metallurgical coal, which is used in making steel and commands a higher price.

The Mt Arthur mine is currently profitable due to high coal prices, caused in part by Russias invasion of Ukraine. But it has lost money for the past two years and BHP regards it as a marginal asset.

Expanding the mine so that it could continue past 2030 would also have required BHP to spend large sums of money, which the companys board was not willing to approve.

Harriet Kater, climate lead for Australia at the activist investor group the Australasian Centre for Corporate Responsibility, said BHP had finally made the right call but questioned whether the company had set aside enough for remediating the vast open pit site.

The current US$700m provision for closure does not appear to match the enormous scale of the likely clean up bill, she said.

BHP has an opportunity to draw on the returns from current record-high thermal coal prices to properly fund high quality remediation.

She said BHP took too long to make the decision and if it had acted earlier it would have been able to close the mine in 2026.

The IEA Net Zero scenario stated there can be no new coal mines or extensions from 2021 so the decision to still seek a mine life extension from 2026 to 2030 is completely inconsistent with the Paris Agreement and limiting warming to 1.5 degrees, she said.

Elizabeth Sullivan, a climate and exports campaigner at the Australian Conservation Foundation, said the decision was a welcome acknowledgement of the energy transition that is underway.

As the world rapidly shifts to renewable energy, projects like Mt Arthur have become such a climate liability that companies can barely give them away, she said.

A closing date of 2030 is a big improvement on 2045, but earlier would be better for the climate.

Read more:

BHP to close NSWs largest coalmine in 2030 after failing to sell it - The Guardian

Making moves. Todd and Julie Chrisley were granted extensions to file for acquittal after being found guilty on all counts in their $30 million fraud trial.

According to court docs obtained by Us Weekly, the Chrisley Knows Best couple filed their request on Tuesday, June 14, seeking an extension of at least 30 days for their motions of judgement of acquittal and for a new trial. The deadline was initially 14 days after their trials conclusion on June 7.

Todd, 53, and Julie, 49, asked to delay the process in order to help them better prepare their argument with necessary court transcripts from their hearings. To date, the Defendants have not received the requested transcripts, the pair claim in their filing. Moreover, the Court Reporter has estimated that it will take at least 3 months to prepare the complete transcript of trial.

The reality stars have also retained additional counsel to assist in these motions, per the docs, applying for lawyers Joseph Alexander Little, Eddie Travis Ramey and Zachary C. Lawson to join their legal team. Defendants expect these attorneys to file their appearances soon, but they will need time to review the record before they file the post-trial motions, the filing states.

According to the docs, U.S. attorneys Thomas Krepp and Annalise Peters were alerted to Todd and Julies issues and did not object to the 30-day extension. A judge granted the request on Thursday, June 16, allowing until July 21 to file the motions.

The couple, who have been married since 1996, were found guilty of tax evasion, bank and wire fraud and conspiracy earlier this month after being indicted in 2019. At the time, Todd and Julies lawyer emphasized in a statement to Us that an appeal is planned.

Less than two weeks later, the twosome broke their silence on the verdict during an episode of Todds Chrisley Confessions podcast. It has been a whirlwind, the businessman said on Friday, June 17. Lot of moving parts, lot of things going on in our lives and a lot of seeing Gods movements right now.

Though they couldnt share much about the cases specific details, Todd gave fans insight into how he and Julie were feeling. We wanted to let everyone know that its a very sad, heartbreaking time for our family right now, he said. But we still hold steadfast in our faith and we trust that God will do what he does because Gods a miracle worker and thats what were holding out for.

Todd and Julie are set to be sentenced on October 6 in Atlanta, and plans for a 10th season of their familys reality show remain up in the air.

Any future planning in Todd and Julies life is pretty much on pause until they learn of the sentencing in the fall, a source told Us after the verdict. Its horrible news They arent sure what this means for the future of Chrisley Knows Best and all their other projects that were in the works. No one knows whats going to happen or what to do at this stage.

The couple share children Chase, 26, Savannah, 24, and Grayson, 16. Todd is also the father of Lindsie, 32, and son Kyle, 30, with ex-wife Teresa Terry.

With reporting by Diana Cooper

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Todd and Julie Chrisley Granted Extension to File for Acquittal After Guilty Verdict in Fraud Trial - Us Weekly

AIM and Media Release

20 June 2022

BASE RESOURCES LIMITEDDecision to proceed with the Bumamani Project

Key outcomes

African mineral sands producer and developer, Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) is pleased to announce that a decision to proceed with development of the Bumamani Project has been made after a definitive feasibility study (the Bumamani DFS) confirmed its economic viability.

The decision means that life at Base Resources 100% owned and operated mineral sands operations in Kwale County, Kenya (Kwale Operations) will be extended by 13 months to December 2024 once land access arrangements are finalised.

The Bumamani Project comprises higher-grade subsets of the Bumamani and Kwale North Dune deposits (see Figure 1) and the Bumamani DFS confirmed the viability of mining these areas concurrently with the Kwale South Dune deposit.

Mining at the Kwale North Dune is expected to commence in March 2023.

Graphics/figures referenced in this release have been omitted. A full PDF version of this release, including all graphics/figures, is available from the Companys website: http://www.baseresources.com.au.

FY23 production guidance

The Companys 2023 financial year (FY23) production guidance is shown below, together with its FY22 production guidance which is unchanged from that last reported. The FY23 production guidance is lower than that for FY22 as a consequence of the planned commencement of mining in the lower HM grade Kwale North Dune orebody from March 2023 and normal uncertainties associated with mining a new orebody.

The FY23 production guidance is supported by the Bumamani DFS and is based on the following assumptions:

Summary of the Bumamani DFS outcomes

The Bumamani DFS was undertaken following an earlier pre-feasibility study (Bumamani PFS) which supported mining higher-grade subsets of the North Dune and Bumamani deposits1 (referred to as the P199 and Bumamani pits). Following the pit optimisation stage of the Ore Reserves estimation process undertaken for the Bumamani DFS, additional material to that considered for the Bumamani PFS was shown to be economically extractable and was added to the scope of the Bumamani DFS. The area added is a subset of the Kwale North Dune referred to as the P200 pit (refer to Figure 1).

The Bumamani DFS forecasts net positive, post-tax, cash flows from mining the Bumamani Project. The other key outcomes, together with the assumed product prices, for the Bumamani DFS are set out in table 1 below.

Table 1: Bumamani DFS key outcomes.

[Note (1): For further information about the Bumamani PFS, refer to Base Resources market announcements on 3 September 2021 Bumamani PFS supports extension of Kwale mine life to mid-2024 and Further supporting information for Bumamani PFS, available at https://baseresources.com.au/investors/announcements/.%5D

Mining

The Bumamani DFS considered mining the Kwale North Dune Ore Reserves, which are estimated at 13.9 million tonnes (Mt) (8.3Mt Proved and 5.6Mt Probable) at an average heavy mineral (HM) grade of 2.1% for 0.29Mt of contained HM, and the Bumamani Ore Reserves, which are estimated at 3.9Mt (2.6Mt Proved and 1.3Mt Probable) at an average HM grade of 2.3% for 0.09Mt of contained HM2. Together, these Ore Reserves estimates total 17.9Mt at an average HM grade of 2.1% for 0.38Mt of contained HM (with 10.9Mt or approximately 61% Proved and 6.9Mt or approximately 39% Probable).

The mining method planned for the Bumamani DFS is hydraulic mining, utilising Kwale Operations existing hydraulic mining units(HMUs). This mining method has been successfully used at Kwale Operations since 2016. It is non-selective, with HMUs using high pressure water jets to sluice the entire ore face, creating an ore slurry which can then be pumped to the wet concentrator plant.

To maximise mining rates and better manage tailings, the Bumamani DFS established that the Bumamani Project will be mined concurrently with the Kwale South Dune deposit, commencing from March 2023. Four existing HMUs will be utilised, instead of three (as is current mining practice at Kwale South Dune), with two continuing to mine at Kwale South Dune and two at the Bumamani Project pits. After the transition to four HMUs, in both areas, one HMU will operate at full capacity of up to 800 tph and one at half capacity of up to 400 tph to give a total feed rate of up to 2,400 tph, consistent with the present feed rate at Kwale South Dune. HMUs are capable of mining at either up to 400 or 800 tph by operating one or two high pressure monitors, each capable of up to 400 tph.

A shutdown of mining operations and the wet concentrator plant is scheduled for February 2023 to relocate the HMUs and associated pumping infrastructure, after which mining at P199 will commence. Following depletion of P199 (anticipated in February 2024), mining equipment will relocate to P200 while mining continues at Kwale South Dune. When mining completes at Kwale South Dune in May 2024, mining equipment will be relocated to the Bumamani pit.

Figure 2 summarises the planned mining schedule incorporating the Bumamani Project, compared to the mine plan if mining at the Bumamani Project does not occur.

Figure 3 shows the planned mining schedule at the Bumamani Project across seven stages. Mining is scheduled at P199 and P200 concurrently with mining at Kwale South Dune for stages 1-5, following which (and for the last two stages) mining occurs solely at the Bumamani pits.

[Note (2): For further information, refer to Base Resources market announcement on 20 June 2022 Maiden Kwale North Dune and Bumamani Ore Reserves estimates available at https://baseresources.com.au/investors/announcements/.%5D

Tailings

The majority of fine tailings will be accommodated within Kwale Operations current tailings storage facility while coarse tailings will be used for land rehabilitation across Kwale Operations. It is anticipated that approximately 25% of the fine tailings from all mining will be co-disposed with the coarse tailings to create a water retention layer as part of land rehabilitation, which is the current practice at Kwale Operations. Coarse tailings disposal will commence in the P199 mined out void as soon as space is available and will subsequently move to P200 when space is available. From commencement of P199 mining, approximately 30% of coarse tails production will be placed in these pit voids. Figure 4 depicts the planned tailings schedules for the Bumamani DFS.

Processing

Material mined will be processed through Kwale Operations existing wet concentrator plant and mineral separation plant. Recovery factors assumed were the same as those currently experienced at Kwale Operations and are set out in Table 2 below. They are also supported by the metallurgical testwork carried out on the Kwale North Dune.

The metallurgical testwork comprised wet concentrator and mineral separation plant tests on bulk samples collected from two 61cm diameter holes drilled in the Kwale North Mineral Resource, as part of the earlier Kwale North pre-feasibility study. One hole is adjacent to P199 while the other hole is in P200. Discrete ore zones were sampled (Ore1, Ore4 and Ore5) from each hole. The samples were dried and shipped to Brisbane, Australia for processing through IHC Robbins laboratory. Samples of the fine tailings generated by IHC Robbins were sent to Outotec Metso for thickener testwork. The results of the testwork were not materially different to the run of mine results being achieved from mining the Kwale South Dune deposit. No metallurgical testwork was completed on the Bumamani deposit, however, it exhibits similar characteristics (including particle size) to ore currently mined at Kwale South Dune and is expected to achieve similar processing results, including mineral recoveries, as those achieved from mining the Kwale South Dune ore.

Table 2: Bumamani DFS recovery assumptions.

Marketing

The chemical specifications of products from the Bumamani Project are the same as existing Kwale Operations production and the Bumamani DFS assumes the same price forecast applicable to Kwale Operations products.

The assumed product prices were derived from Base Resources internal price forecasts for the proposed period of extraction, based on supply/demand analysis and taking into account relevant data from independent industry consultants, TZMI, and are not materially different from TZMIs average forecast prices over the same period.

Infrastructure and capital and operating costs

As Kwale Operations is an operating mine, all the major infrastructure already exists 132 kV power line and transformer yard, 8Gl water dam, water bores, export facility, processing plants, offices, maintenance workshops, laboratory and camp. The cost of additional roads, powerlines, pumps and pipelines required to service the proposed pits have been allowed for in the capital expenditure estimate. Figure 5 shows the locations of new mine infrastructure, including a new community road to replace those intersected by the pits, with all infrastructure implemented in a staged approach as required by the mine plan.

Capital cost is estimated at US$28.1 million, including the acquisition of land and the additional mine services and infrastructure that will be required. The Bumamani DFS capital cost estimate is higher than that of the Bumamani PFS, primarily due to inclusion of the P200 area and related field services and land acquisition costs. Capital costs will be funded from internally generated cash flows.

Operating cost per tonne mined is expected to be consistent with current Kwale Operations performance but operating costs per tonne produced are expected to be higher due to the lower production volumes, a consequence of the lower heavy mineral grade of the Bumamani Project relative to the Kwale South Dune.

Implementation schedule

Implementation is planned in three stages:

Legal, community and environment

The Company has secured the right to mine the Bumamani Project, following the recent extension of the boundary of Special Mining Lease23 (SML23) to incorporate that project. The extension was effected by a formal deed of variation between the Companys wholly-owned Kenyan subsidiary, Base Titanium Limited, and the Government of Kenya acting through the Ministry of Petroleum and Mining. In accordance with the terms of SML 23, a royalty of 5% is payable to the Government of Kenya.

The Resettlement Action Plan for landowners in the Bumamani Project areas has been approved by the National Environmental Management Authority (NEMA) and is currently being implemented. The socio-economic baseline study has confirmed landowner eligibility and, following an extensive consultation and negotiation process, compensation rates have been agreed. Asset valuation is underway following which, individual compensation agreements will be signed and relocation implemented. Broader community consultation programs have been running for the duration of the current mining operation, assisting with two-way information sharing and management of stakeholder expectations.

The key regulatory approval in addition to the SML23 extension, being that in respect of the Environmental and Social Impact Assessment (ESIA), was issued on 23 August 2021 by NEMA following extensive public consultation and environmental impact assessments.An environmental management plan was also approved as part of the ESIA. The only other authorisation required to mine the Bumamani Project is that for silt trap construction as a control measure for sedimentation with no issues expected in obtaining this authorisation.

Key risks and sensitivities

Completing the necessary land acquisitions at reasonable prices within a timeframe that does not impact the implementation schedule and commencement of mining at the Bumamani Project in March 2023, has been identified as a key risk. The Company is confident that this risk will not give rise to material impacts on implementation of the Bumamani Project given progress made to date and further planned mitigations. However, given the requirement for engagement with and action by landowners, residual risk remains. Inaction on the part of landowners and any emerging project opposition could stem from, among other things, the upcoming Kenyan general election in August 2022. The inability to commence mining at the Bumamani Project by March 2023 as planned would impact project economics.

The key sensitivity to the Bumamani Project achieving forecast net positive, post-tax cash flows is product prices, which are subject to many variables outside the control of Base Resources and the assumed average product prices may not reflect realised prices. If all other financial and operating outcomes were as forecast, realised prices for the full product suite would need to be 29% lower than forecast for the Bumamani Project to not be net cash flow positive.

Other factors which could negatively affect cash flows include an increase in operating costs or an increase in land acquisition costs, though these are moderated by the Companys experience managing Kwale Operations and the progress made in the land acquisition process.

Ore Reserves estimates and production and forecast financial information

The information included in this announcement about the estimated Ore Reserves for the Kwale North Dune and Bumamani deposits has been extracted from Base Resources ASX announcement titled Maiden Kwale North Dune and Bumamani Ore Reserves estimates dated 20June 2022, which is available at https://baseresources.com.au/investors/announcements/. Base Resources confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

The estimated Ore Reserves for the Kwale North Dune and Bumamani deposits underpin the Bumamani DFS and the anticipated production and financial outcomes from that study. These Ore Reserves estimates were prepared by Competent Persons in accordance with the requirements of the JORC Code. The proportions of Probable and Proved Ore Reserves underpinning the Bumamani DFS and the anticipated production outcomes are disclosed in the main body of this announcement. The material assumptions on which Bumamani DFS production and financial outcomes disclosed in this announcement are based are also disclosed in the main body of this announcement.

Forward Looking Statements

The Bumamani DFS is based on technical, economic and other conditions and information as at the date of this announcement, which may be subject to change. Accordingly, the information and conclusions presented in this announcement should be viewed in this light. Information in this announcement should also be read in conjunction with other announcements made by Base Resources to ASX.

Certain statements in or in connection with this announcement contain or comprise forward looking statements. Such statements may include, but are not limited to, statements with regard to capital cost, operating cost, future production and available grades, product prices, and financial performance and may be (but are not necessarily) identified by the use of phrases such as will, expect, anticipate, believe and envisage. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside Base Resources control. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in product prices and exchange rates and business and operational risk management. Some risks that could impact Base Resources' ability to achieve the outcomes or results expressed or implied by such statements are disclosed in this announcement. Subject to any continuing obligations under applicable law or relevant stock exchange listing rules, Base Resources undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events.

ENDS.

For further information contact:

This release has been authorised by the Board of Base Resources.

About Base Resources

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The Company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. Base Resources is an ASX and AIM listed company. Further details about Base Resources are available at http://www.baseresources.com.au

PRINCIPAL & REGISTERED OFFICELevel 3, 46 Colin StreetWest Perth, Western Australia, 6005Email: info@baseresources.com.auPhone: +61 8 9413 7400Fax: +61 8 9322 8912

NOMINATED ADVISORRFC Ambrian LimitedStephen AllenPhone: +61 8 9480 2500

JOINT BROKERBerenbergMatthew Armitt / Detlir EleziPhone: +44 20 3207 7800

JOINT BROKERCanaccord GenuityRaj Khatri / James Asensio / Patrick DolaghanPhone: +44 20 7523 8000

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BASE RESOURCES LIMITED - Decision to proceed with the Bumamani Project - Marketscreener.com

In a nondescript warehouse in country NSW, the dead will soon be stored, head down, feet up, awaiting resurrection.

The building, in the small town of Holbrook, offers no outward clue it could one day house dozens of bodies - people whove paid to be preserved in the hope of scientific breakthroughs that could bring them back to life.

The business of whole-body cryonic suspension is not cheap but is about to be offered in Australia for the first time under a strict policy of no guarantees and no refunds.

Watch the latest News on Channel 7 or stream for free on 7plus >>

Those conditions seem prudent given the horrifying events that unfolded in California in 1979, when cryonics pioneer Bob Nelson quietly walked away from a facility less than 10 years after he opened it.

The former TV repairman ran out of cash to pay for deliveries of liquid nitrogen and nine bodies that should have been preserved indefinitely were left to rot and liquefy.

Nelson later penned a memoir titled, Freezing People is (Not) Easy.

Retired marketing specialist Peter Tsolakides is chairman and one of the founders and directors of Southern Cryonics, the non-profit company behind the Holbrook facility.

He says much has changed since the Nelson debacle, pointing to US organisation Alcor, which turns 50 this year.

The Arizona-based life extension foundation says it has 191 patients in its care and a membership base of about 1500.

The NSW site is small by comparison. Stage one can only take 40 bodies but with the addition of more warehouses that could swell to 600 in the distant future.

Tsolakides says Southern Cryonics has 34 founding members whove each made up-front, cash payments of between $50,000 and $70,000 for a second shot at life. The founder is among them.

Once the site is operational - a milestone said to be tantalisingly close - the company will start taking newcomers but theyll have to pay $150,000 to be indefinitely stored in liquid nitrogen.

Its a head-down, feet-up arrangement, a safeguard to maximise the chances of brain preservation if theres ever a leak from the double-walled containers that can each accommodate four bodies.

Tsolakides agrees its a significant amount of money but as Southern Cryonics says on its website, people should remember they are buying an experimental lifesaving treatment, not an expensive funeral.

Southern Cryonics tells newcomers to fund their suspensions by taking out life insurance policies naming the company as the beneficiary, mirroring the funding model used by Alcor in the US.

Given what happened at the Nelson vault, financial longevity is of paramount concern.

Tsolakides says most of the fees people pay will go into low-risk investments so theres enough cash to keep Southern Cryonics alive and the bodies preserved almost forever.

He says pooled investment funds will be managed independently of Southern Cryonics, although those arrangements havent been finalised because nobody in the program has died yet.

In the event things dont go to plan, Southern Cryonics has offered assurances to NSW health authorities and the local council, which both consider the Holbrook site to be a burial facility.

One is, and this is not our preferred case, to respectfully bury the people who are in there, Tsolakides says.

Thats not great but thats what we would do and ... thats been accepted.

AAP has been unable to speak to any of the people who have already paid for their suspensions or to verify the claims made about the services being offered to them.

Tsolakides says those involved are typically very private individuals.

Max More is a philosopher and futurist who joined Alcor in 1986, aged 22.

At the time, the organisation had fewer than 70 members.

He believes Tsolakides is being a little pessimistic when he talks of having to securely store people for about 250 years.

His view is that it could be as little as 100 years before revival is possible but nobody really knows.

Sceptics say the idea humans can be successfully preserved and then reanimated with their memories and sense of self intact is pie-in-the-sky stuff.

RMIT cryobiology expert Gary Bryant recently told Cosmos magazine the concept of successfully preserving a human body, with all of its cellular complexity, was basically science fiction as researchers were currently unable to cryogenically preserve even a simple organ.

More accepts many people dismiss cryonics as fanciful or believe its a scam but he says future technological advances are unknowable.

Its funny when people say, oh were a scam, a get-rich-quick organisation. Its hilarious because its the most difficult thing to sell people.

They have to think about their own death, they have to make all these arrangements, theres all this documentation and then we tell people all the reasons why it may not work. So its the hardest thing to get people to sign off.

He says supporters accept that peoples understanding of death is not clear-cut.

Before about 1960, if you stopped breathing and your heart stopped beating we just said well, theyre dead and threw up our hands.

Today we do CPR and defibrillation and often recover them.

In cryonics we tend to have the view that you are not truly dead in terms of it being irreversible until the structure of your brain has been so badly damaged that theres no way - even in principle - that any technology could repair it.

Otherwise you are not really dead. You are in an uncertain state ... a kind of in-between.

Excerpt from:

How much would you pay for a second life? Meet the man putting a price on resurrection - 7NEWS

ricochet64/iStock Editorial via Getty Images

Recent years have provided lots of crises and there has been huge expenditure on recovery. For a while, during the COVID pandemic, it looked as if there might be a possibility for commitment to recover from COVID through progress on addressing climate change via a decarbonized world, which would mean massive investment in solar PV and wind power. Sadly this opportunity has been missed, but perhaps the Russian invasion of Ukraine might help Europe to have another go with the REPowerEU plan. There seem to be hopeful signs of an intention not to just swap out Russian oil and gas with these products from other suppliers, but instead to make Europe more self-sufficient with new renewables investments. This means major expansion of solar PV and wind projects. Of particular relevance to this article, a key feature of the REPowerEU plan is to increase the renewables target from 40% to 45% by 2030. This means, for example, a change of pace from decade-long offshore wind implementation, to faster and more targeted permitting procedures. This is the kind of change needed to get renewables projects on a different pace and it bodes well for revitalising the wind industry at a time when it's suffering from corporate malaise. Here I explore the situation for Vestas Wind Systems (OTCPK:VWDRY), the world's largest wind turbine manufacturer. I explore some unrecognized opportunities for wind power. I conclude that, notwithstanding current challenges, a turnaround in the fortunes of this company.

The numbers are revealing. Vestas designs, manufactures, installs and services wind turbines in 87 countries. They have installed 154GW of wind capacity, more than any other company. With 132GW (including 9GW non-Vestas) of turbines (53,000+) under service contracts in 72 countries, Vestas has more "data to interpret, forecast and exploit wind resources and deliver best-in-class wind power solutions." The company offers maintenance, parts and service and fleet optimization services, with an average service contract duration in excess of 10 years. The company has 29,000 employees and 40 years of experience in the wind industry. In January 2022 Vestas was identified as the most sustainable company in the world in Corporate Knights ranking.

The company is an industry leader in onshore wind and service, and a major participant in the development of offshore wind. The company has 7+GW of offshore wind, involving 1,500+ turbines across 45 projects. It now has a leading 15MW offshore wind turbine.

In the May 4 Q1 2022 earnings call CEO Henrik Andersen reported a wind turbine order backlog of Euro 18.9 billion. There was a lot of talk about all kinds of problems, but reality is that the order backlog is pretty much where it has been previously. However, 2022 is one of the toughest years in operating terms that the company has experienced. They have addressed COVID and now the Russian chaos is creating great uncertainty. Nevertheless, GlobalData ranked Vestas the No. 1 global wind turbine manufacturer in 2020 and 2021, with a 19% market share in 2021.

The point is that Vestas is ready to work with governments who want to speed up the renewables transition and there seems to be plenty of finance available.

If there's to be a future for the wind industry, then it's hard to imagine it without Vestas being a major player. The business is split roughly 50% turbine manufacture and 50% service of wind farms. The service business has long-term contracts which provide solid cash flows. The turbine manufacturing business has both scale and massive experience of the industry.

Innovation and energy transitions happen when better and cheaper solutions arise and replace the status quo. The drivers for change are invariably cost advantage, better solutions (e.g., environmental improvement) and the battle between a legacy industry that doesn't want to change versus the upstarts. These factors mean resistance to change, especially if there's a big sunk cost to existing systems, and the legacy industry has political clout. So change takes time.

All of the above are in play as the world begins to replace fossil fuels with renewable energy, but there's another key component in the current revolution that's accelerating change. This is the urgency brought into the picture by climate change and the need to reduce emissions fast. Impending disaster is in the background if action isn't taken. The legacy fossil fuel industries are alert to the problem of their survival and there's a lot of political battling.

Solar PV and wind power now provide the technological means as the energy capture industries to enable exit from fossil fuel exploitation. The wind industry is complex and concentrated, with China a huge player. In 2021 there were 104GW of global onshore turbines installed, with China contributing 56GW, the rest of the world installed 47GW of onshore turbines. Vestas market share for onshore turbine installations in 2021 was 15.7% globally or 34.6% excluding China. A key point when considering investment in the wind industry is that just 4 OEMs represent 85% of global installations outside of China.

I'm on the record as being a sceptic of the current mania for hydrogen. Frankly, I don't "get" why you would divert renewable electricity to form hydrogen, with huge loss of energy in the process, to turn it back into electricity. DNV has just released a comprehensive report "Hydrogen Forecast to 2050." This report is closer to reality than almost anything I've seen concerning hydrogen because it acknowledges that "Hydrogen is expensive and inefficient compared with direct electrification. In many ways, it should be thought of as the low-carbon energy source of last resort." Nevertheless, the report accepts that hydrogen is crucial for decarbonization and this is likely to be the case for some areas (e.g. maybe long-distance air transport and heavy shipping), while for others (e.g. high temperature heating in heavy industry) I'm not so sure. The report emphasises that there is a lot of interest among a range of stakeholders (gas industry), governments and the media. Hydrogen is definitely a hot topic.

There's a lot to digest in the DNV report, but the takeaway for me as an investor in wind and solar PV is the following statement "it is inescapable that wind and solar PV are prerequisites for green hydrogen; the higher our ambitions, the greater the build-out of those sources must be."

My contrarian position is that at the end of the day the need for hydrogen may end up being much less than is being hyped at the moment, but the key issue for solar PV and wind investors is that hydrogen projects are starting to move beyond the pilot stage, with really big projects beginning to be entered into. I'm still not sure about the scale up to produce hydrogen, which still seems to be quite small scale, but it does seem that the renewables side of the projects is now starting to become concrete. Perhaps those entering into these projects are (like me) comfortable with the renewable side of the investments because if hydrogen proves to be a mirage, HVDC cabling can move the power over thousands of miles to where it will have a market. Look no further than the Sun Cable project which started as a hydrogen project, but now it's getting legs as a massive solar PV project in Northern Australia which will supply up to 15% of Singapore's electricity needs via HVDC cabling.

Very recent news concerns acquisition of a 40.5% stake by BP (BP) in a huge Western Australian renewable energy project that plans to build up to 26GW of solar PV and wind capacity which will have the potential to become one of the world's biggest green hydrogen suppliers. Note that 26GW of renewables represents about one-third of Australia's current electricity generation. This is an example of the kind of action that's happening in the hydrogen universe. It's worth thinking about what effect these kinds of projects (and there are a number) are going to have on wind turbine manufacturers!

McKinsey & Company has recently reported their estimates of likely growth in the global offshore wind industry from 40 GW in 2020 to 630 GW by 2050 and upside potential of 1000 GW if the world adopts a 1.5C pathway for addressing climate change. McKinsey & Co acknowledges that offshore wind is now recognized as a proven and reliable source of renewable energy.

Europe has been the driver of development of the offshore wind industry and has the largest base today (25GW). Predicted growth for Europe/Middle East/Africa is 100GW (outperformance 120GW) by 2030 and 190GW (outperformance 320GW) by 2050, but it's Asia-Pacific that has the biggest prospects for growth. The predicted capacity development in Asia-Pacific from 2021 (11GW) to 2030 is 80 GW (outperformance of 120GW) and 410GW (outperformance 820 GW) by 2050. While China is going to be huge, the interest in offshore wind is building across Asia/Pacific, including Taiwan, Japan, South Korea, Vietnam, Australia. The Americas, with just 3GW in 2020, is predicted by the McKinsey report to reach 27 GW by 2030 (although actually just the US goal is 30GW by 2030) and 34 GW (outperformance 100GW) by 2050. The McKinsey figures for the Americas seem low. The McKinsey report indicates many other countries are exploring offshore wind, including India. A quick search shows that India has plans for 30GW offshore wind by 2030.

As a new industry matures there are major cost advantages to scale up and also efficiencies are squeezed out of the industry.

In offshore wind, there's a lot of work going on with new technologies such as for anchoring floating turbines.

Extending the lifespan of turbines through use of advanced sensing tools to avoid failure and consequent downtime is a clear path to reduced costs. A recent report on the Australian wind industry indicates possible value increase of 12% through integrating turbine life extension into operations and maintenance strategy. And increasing lifespan of a turbine from 20 to 25 years has a huge financial impact.

Offshore wind power, from Orsted's (OTCPK:DNNGY) Riffgrund 1 wind farm, is beginning to be used for grid stabilisation in Germany. The stabilizing role is possible because of the accuracy of forecasting supply of wind.

With dramatic reductions in the cost of offshore wind and subsidy-free bids becoming more common, other factors are being considered in deciding who will win project proposals in Germany. The carbon footprint of projects and benefits to local producers are likely to become key factors in deciding successful bidders in future German renewable power auctions. This might revitalize the German wind industry after a period where local production facilities have become uncompetitive. No doubt the need for urgent and major renewables development to address the exit from Russian fossil fuel dependence is a significant factor.

The Biden Administration's inability to execute on its clean energy programs has had an impact on US renewable energy investment. Added to this is the crisis caused by the Russian invasion of Ukraine. Neither of these issues has changed the urgency to decarbonize due to climate change.

In the case of the Russian invasion, this has opened up a dichotomy in how Europe and the West should respond. The fossil fuel industry sees this development as an opportunity to revitalize the industry at a time when the switch to renewables has been gathering momentum. The renewables industry sees it as a time to double down on the exit from fossil fuels. Politically there's a short-term patch up happening, but the political will in Europe seems to be shifting toward using this as an opportunity to double down on the transition to renewables.

The Q1 2022 reporting made clear that these are uncertain times for management, which finds it difficult to look beyond the situation each quarter as things are so volatile with the Russian invasion of Ukraine. In general, things are looking more not less gloomy in the short term, and management is not able to give an indication as to when things will change for the better.

The issues driving Vestas share price lower seem temporary in an environment where the demand for wind projects continues to accelerate. Three areas have clearly been confronting for Vestas management in recent times.

These are:

i) Business environment involving lockdowns and restricted movements, supply chain disruption, etc. due to the COVID pandemic. This is a big deal for a company operating in 72 countries.

ii) The Russian invasion of Ukraine has meant disruption of the global business environment in many areas, with flow on effects that are challenging. Also, Vestas withdrawal from Russia and Ukraine is clearly challenging.

iii) Issues with managing offshore wind turbines that are now last-generation devices. This is the price of being a pioneer, but the new Blue Marlin V236-15MW turbine is the story going forward.

In this article, I've reviewed the prospects for Vestas and explained why I'm optimistic that this stock will turn around from its current doldrums. Vestas commenced 2021 on a high with the share price at $17.24. Since then it has been mostly downhill, with the share price now being down 39% year on year to $7.60, less than half of its start of 2021 price. Perhaps the most extraordinary thing about the world's most successful wind turbine manufacturer is that there are just two articles (both with a hold recommendation) from Seeking Alpha contributors in the past 30 days and even more amazing just one (strong buy) Wall Street Analyst recommendation in the past 90 days. Vestas is out of favor currently with Seeking Alpha which highlights the company as at high risk of performing badly. Is this the price of being a Danish company, or does it reflect a narrowly fossil fuel centric investment community focus? This is a great opportunity for investors looking at a company that will be a major player in a decarbonized world.

I've benefited from earlier investment at a little more than half of the current price, and I think that the share price of Vestas is misplaced. Clearly, there have been substantial negatives in recent times with supply delays and increased pricing due to cost inflation, but an interesting development is increased global focus on energy independence and accelerating the renewable energy transition.

To be the major manufacturer in the industry, with a robust business that generates half of its revenue from long-term maintenance contracts in an industry that has to expand dramatically if emissions are to be reduced quickly, the politics and pricing issues must and I suggest will be resolved. There has to be a dramatic expansion of the wind industry to meet climate goals, and the high fashion green hydrogen push plus interest in offshore wind are drivers. You need a solid base to expand from. Vestas employs 10,000 service technicians working across 72 countries. This places the company in a good position to expand its operations. Here I've looked at Vestas, a major wind turbine manufacturer. Other aspects of the wind industry have suffered similar setbacks. I shall explore the prospects for Orsted, the world's biggest offshore wind turbine project developer, another company that Seeking Alpha gives a red flag warning to, in a second article.

I'm not a financial advisor but I pay close attention to the massive changes occurring as the world begins to exit the exploitation of fossil fuels and adopts renewables to electrify everything. I hope that my perspective helps you and your financial advisor to consider the energy investment aspects of your portfolio and in particular to consider Vestas as a possible future investment.

Read the rest here:

Vestas Hits Headwinds, But Good Times Are Coming (OTCMKTS:VWDRY) - Seeking Alpha

Undated aerial view of the Red Dog Mine. (EPA photo)

The company that operates the Red Dog zinc mine in Northwest Alaska is seeking state and federal approval for a multi-year exploration plan in the area that could one day lead to a large expansion of its operations.

Teck American, a subsidiary of Teck Resources in Canada, has applied with the Alaska Department of Natural Resources to build a 10-mile exploration road, plus bridges and related facilities, the agency said in a public notice last week.

The road would extend from the mine to two large new prospects to the north, known as Aktigiruq and Anarraaq.

The Aktigiruq prospect could be one of the largest undeveloped zinc deposits in the world, comparable in size to the valuable Red Dog mine that has already operated more than 30 years, according to a 2020 report from the states geological survey division.

The prospects are located on state land, and are seen as a way to extend some of the benefits of Red Dog to the region, an economic powerhouse with revenues that support the borough and Alaska Native corporations and villages.

Red Dogs mine life, based on existing, developed deposits, is expected to run out in 2031, Chris Stannell, a spokesperson with Teck Resources, said in an email.

This exploration program would be focused on extending Red Dogs mine life and in turn continuing the significant social and economic benefits that the mine contributes to the region, Stannell said.

Stannell said the new prospects, if developed, would use existing facilities at Red Dog.

Should the exploration program be successful, a proposed extension would source zinc ore from underground and operate primarily within the existing mine footprint, using current mine infrastructure such as the mill, Stannell said.

[Many see the Red Dog mine as an ANCSA success story. What happens when the ore runs out?]

Teck Americans application for a state permit is a first-phase step in its effort to conduct more extensive exploration at the prospects, said Kyle Moselle, executive director of the office of project management and permitting at the Alaska Department of Natural Resources.

The mining company has been exploring the site for years using a relatively limited surface drilling program, he said. Equipment has been hauled in by helicopter under a state miscellaneous land-use permit, Moselle said.

The company wants to tunnel underground to drill and explore the prospect from below the surface, allowing a more thorough look at the mineral resource, Moselle said.

The underground site will allow year-round drilling and a shorter time frame to collect geologic data to help make a development decision, said Stannell with Teck Resources.

The company plans to apply for the tunneling work next, in a second phase that will also require a state permit, Moselle said.

They want to do the work to see if it can be an economically viable mine, Moselle said. Going underground shows they believe it is likely a viable resource there, but they have to do work to prove it up.

Red Dog, one of the worlds largest zinc mines, is located about 500 miles northwest of Anchorage, near the villages of Kivalina and Noatak. The mine last year recorded gross profit of $678 million as zinc prices rose, more than 30% higher than in 2020, according to Tecks annual report.

The mining companys current application, if approved, would also allow it to extract gravel to create the main road, smaller secondary roads and surface pads on the tundra. The pads would support structures associated with the next phase, like a man camp and fuel storage, according to the plan of operations.

Teck American has also filed a plan designed to protect the caribou population, an important subsistence food, and a reclamation plan for restoring the area at the end of the project.

In its application paperwork, Teck American included a letter from NANA Regional, the Alaska Native corporation for the Northwest Alaska region, to the state Department of Natural Resources. The letter says NANA does not object to this first-phase plan to build the road and other infrastructure.

NANA owns the land at the Red Dog mine, and receives large royalty payments from Red Dog.

The mine in 2021 paid $255 million in royalty payments to NANA, according to Tecks last annual report. NANA shares most of that income with other Native corporations, required by the 1971 federal law that established the corporations.

The mining companys plans, particularly the ones to restore the environment and protect caribou, conform with NANA land-use policies, the letter from NANA says.

Lance Miller, vice president of natural resources for NANA, said the corporation supports continued exploration by Teck. The exploration is expected to last for years before a decision on development can be made, he said.

NANA appreciates our partnership with Teck and we support efforts to extend the life of the mine at Red Dog, so we can continue to provide benefits to our shareholders and families within NANA and in the region, he said.

Village leaders in Kivalina, about 50 miles southwest of the mine, said they worry that an expansion will increase pollution risks to drinking water and subsistence resources like fish from the nearby Wulik River.

Austin Swan, Kivalinas mayor, said he and others will be tracking these new plans closely.

It will always be a hazard to the Wulik River so they have to be real careful about how they operate, Swan said of the mine.

The river, our drinking water source, the fish, thats my first concern, and Ill speak up about that, said Janet Mitchell, a city councilwoman in Kivalina.

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Operator of Red Dog zinc mine in Northwest Alaska advances plans that could lead to large expansion - Anchorage Daily News