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‘Major Project Endorsement’: SoftBank Invests $99M in Lithium Development Firm

Source: Streetwise Reports   04/10/2018

Ryan Walker, an analyst with Echelon Wealth Partners, explained the agreement and its implications.

An April 6 research note indicated that SoftBank Group has agreed to invest up to CA$99 million in Nemaska Lithium Inc. (NMX:TSX; NMKEF:OTCQX). The vehicle is a private placement of 88.5 million common shares subscription receipts at $1.12 per share. “SoftBank’s investment is an important project endorsement, providing credibility for Nemaska to pursue and close additional equity and debt financing options,” wrote analyst Ryan Walker with Echelon Wealth Partners.

SoftBank Group is a US$78 billion, Japanese-based multinational conglomerate holding company whose business divisions include energy, mobile, Internet, robot and business.

As for the details of the SoftBank-Nemaska arrangement, the gross proceeds of the placement would be held in escrow until, for one, Nemaska completes additional financing. The company needs a total of $775–825 million for the commercial-scale Shawinigan plant, the Wabouchi mine (both located in Quebec) and working capital.

Walker explained that “if the escrow release conditions are not met or waived by Aug. 6, 2018, the funds would revert to SoftBank and the financing automatically canceled.” If all stipulations are met and the financing gets completed, SoftBank would have the right to own 9.9% of Nemaska.

At that point, should SoftBank owns at least a 5% interest in Nemaska, it would have these additional rights:

  1. The right of first offer to purchase up to 20% of the lithium hydroxide and carbonate produced at the Shawinigan plant from Wabouchi “at pre-agreed discounts applicable to a pre-determined price-based formula,” said Walker.

  2. The right to one nominee for director of Nemaska.
  3. The right to participate in any future equity offerings.

Nemaska continues working on obtaining supplementary financing, “including US$300–350M in debt, closure of a recently announced US$150M streaming facility and additional private and/or public equity,” Walker noted.

He added that Echelon is confident the lithium firm will accomplish the needed capital, particularly with the confidence boost from Softbank. Were Nemaska to complete all additional financing by early August, then the plant and mine would be on track for commercial production in H2/20.

Echelon has a Speculative Buy rating and a CA$3 per share price target on Nemaska Lithium. The company’s shares are currently trading at around CA$1.32 per share.

Want to read more Energy Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Disclosures from Echelon Wealth Partners, Nemaska Lithium Inc., Apr. 6, 2018

Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.

I, Ryan Walker, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.

Important Disclosures:
During the last 12 months, has Echelon Wealth Partners Inc. provided financial advice to and/or, either on its own or as a syndicate member, participated in a public offering, or private placement of securities of this issuer? Yes

During the last 12 months, has Echelon Wealth Partners Inc. received compensation for having provided investment banking or related services to this Issuer? Yes

( Companies Mentioned: NMX:TSX; NMKEF:OTCQX,
)

Source: Streetwise Reports   04/10/2018

Ryan Walker, an analyst with Echelon Wealth Partners, explained the agreement and its implications.

An April 6 research note indicated that SoftBank Group has agreed to invest up to CA$99 million in Nemaska Lithium Inc. (NMX:TSX; NMKEF:OTCQX). The vehicle is a private placement of 88.5 million common shares subscription receipts at $1.12 per share. "SoftBank's investment is an important project endorsement, providing credibility for Nemaska to pursue and close additional equity and debt financing options," wrote analyst Ryan Walker with Echelon Wealth Partners.

SoftBank Group is a US$78 billion, Japanese-based multinational conglomerate holding company whose business divisions include energy, mobile, Internet, robot and business.

As for the details of the SoftBank-Nemaska arrangement, the gross proceeds of the placement would be held in escrow until, for one, Nemaska completes additional financing. The company needs a total of $775–825 million for the commercial-scale Shawinigan plant, the Wabouchi mine (both located in Quebec) and working capital.

Walker explained that "if the escrow release conditions are not met or waived by Aug. 6, 2018, the funds would revert to SoftBank and the financing automatically canceled." If all stipulations are met and the financing gets completed, SoftBank would have the right to own 9.9% of Nemaska.

At that point, should SoftBank owns at least a 5% interest in Nemaska, it would have these additional rights:

  1. The right of first offer to purchase up to 20% of the lithium hydroxide and carbonate produced at the Shawinigan plant from Wabouchi "at pre-agreed discounts applicable to a pre-determined price-based formula," said Walker.
  2. The right to one nominee for director of Nemaska.
  3. The right to participate in any future equity offerings.

Nemaska continues working on obtaining supplementary financing, "including US$300–350M in debt, closure of a recently announced US$150M streaming facility and additional private and/or public equity," Walker noted.

He added that Echelon is confident the lithium firm will accomplish the needed capital, particularly with the confidence boost from Softbank. Were Nemaska to complete all additional financing by early August, then the plant and mine would be on track for commercial production in H2/20.

Echelon has a Speculative Buy rating and a CA$3 per share price target on Nemaska Lithium. The company's shares are currently trading at around CA$1.32 per share.

Want to read more Energy Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Disclosures from Echelon Wealth Partners, Nemaska Lithium Inc., Apr. 6, 2018

Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.

I, Ryan Walker, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.

Important Disclosures:
During the last 12 months, has Echelon Wealth Partners Inc. provided financial advice to and/or, either on its own or as a syndicate member, participated in a public offering, or private placement of securities of this issuer? Yes

During the last 12 months, has Echelon Wealth Partners Inc. received compensation for having provided investment banking or related services to this Issuer? Yes

( Companies Mentioned: NMX:TSX; NMKEF:OTCQX, )

Raw Steels MMI: Domestic Steel Price Momentum Picks Up

The Raw Steels MMI (Monthly Metals Index) fell four points this month, dropping to 88. Despite the drop in the Raw Steels MMI, domestic steel price momentum has been on a tear throughout March. All prices for the main forms of flat-rolled steel products have reached more than seven-year highs.

Domestic steel prices accelerated their pace of increases in such a way that HRC domestic prices have risen from the $600-$650/st level to around $850 in the last three months.

[caption id="attachment_91239" align="aligncenter" width="580"] Source: MetalMiner data from MetalMiner IndX(™)[/caption]

The steel price increase comes as a result of several factors. First, the long-term trend that started in 2016 created upward movement for steel prices. Second, the delayed steel sector cyclicality (seasonality) has pushed the steel price slope even steeper.

Historically, prices usually increase during Q4 as many companies renegotiate their annual agreements as part of the budgeting season for the following year. However, this year, steel price increases didn’t occur until later. Prices appeared to wait for the Section 232 outcome (with its corresponding tariffs), which acted as a support for domestic steel prices.

However, domestic steel prices seem closer to the end of this latest price rally. Based on historical steel price cyclicality, lower Chinese steel prices and decreasing raw material prices, domestic steel prices may fall in the coming months.

The Divergence in Steel Prices

Chinese steel prices and U.S. steel prices usually trade together. However, the short-term trend sometimes shows some divergences.

Short-term trends may be created by local uncertainty or sudden disruptions with local supply. But these short-term trends tend to correct, and return to their historical pattern.

[caption id="attachment_91240" align="aligncenter" width="580"] Source: MetalMiner data from MetalMiner IndX(™)[/caption]

When looking at Chinese and U.S. HRC prices in tandem, the price divergence observed this month leaves no one surprised.

U.S. HRC prices skyrocketed, while Chinese HRC prices continue to fall. It is true that Chinese HRC prices increased sooner in 2017 (starting June 2017), supported by the steel industry cuts in China. The spread between Chinese and domestic steel prices dropped in Q3 2017, as U.S. domestic steel prices traded sideways. The recent drop in Chinese steel prices may create downward price pressure for domestic steel prices.

Global Steel Market

Chinese steel production cuts continue. The city of Handan ordered steel mills to cut around 25% of their steel production to continue the pollution curb measures. These cuts will be extended from April to mid-November. The coking coal industry will also cut production by around 25% over that period. The cuts started on April 1.

According to the Mexican government’s official gazette, the Mexico economy ministry has formally imposed anti-dumping duties on carbon steel pipe imports from South Korea, Spain, India and Ukraine.

Raw Materials

After the prior raw material price increases at the end of 2017, raw material dynamics seem to have slowed down.

Iron ore prices fell sharply in March. Iron ore prices increased slightly at the beginning of this month. However, the sharp decrease in prices last month may not support the current highs in domestic steel prices.

[caption id="attachment_91243" align="aligncenter" width="580"] Source: MetalMiner analysis of TradingEconomics[/caption]

Coal prices also fell in March. Coal prices seem to be increasing slightly again this month, even if current prices remain far away from the $110/mt highs in January 2018.

[caption id="attachment_91244" align="aligncenter" width="580"] Source: MetalMiner analysis of TradingEconomics[/caption]

What This Means for Industrial Buyers

As steel price dynamics showed a strong upward momentum this month, buying organizations may want to understand price movements to decide when to commit to mid- and long-term purchases. Buying organizations looking for more clarity on when to buy and how much to buy of their steel products may want to take a free trial now to our Monthly Metal Buying Outlook. 

Actual Raw Steel Prices and Trends

The post Raw Steels MMI: Domestic Steel Price Momentum Picks Up appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

The Raw Steels MMI (Monthly Metals Index) fell four points this month, dropping to 88. Despite the drop in the Raw Steels MMI, domestic steel price momentum has been on a tear throughout March. All prices for the main forms of flat-rolled steel products have reached more than seven-year highs.

Domestic steel prices accelerated their pace of increases in such a way that HRC domestic prices have risen from the $600-$650/st level to around $850 in the last three months.

[caption id="attachment_91239" align="aligncenter" width="580"] Source: MetalMiner data from MetalMiner IndX(™)[/caption]

The steel price increase comes as a result of several factors. First, the long-term trend that started in 2016 created upward movement for steel prices. Second, the delayed steel sector cyclicality (seasonality) has pushed the steel price slope even steeper.

Historically, prices usually increase during Q4 as many companies renegotiate their annual agreements as part of the budgeting season for the following year. However, this year, steel price increases didn’t occur until later. Prices appeared to wait for the Section 232 outcome (with its corresponding tariffs), which acted as a support for domestic steel prices.

However, domestic steel prices seem closer to the end of this latest price rally. Based on historical steel price cyclicality, lower Chinese steel prices and decreasing raw material prices, domestic steel prices may fall in the coming months.

The Divergence in Steel Prices

Chinese steel prices and U.S. steel prices usually trade together. However, the short-term trend sometimes shows some divergences.

Short-term trends may be created by local uncertainty or sudden disruptions with local supply. But these short-term trends tend to correct, and return to their historical pattern.

[caption id="attachment_91240" align="aligncenter" width="580"] Source: MetalMiner data from MetalMiner IndX(™)[/caption]

When looking at Chinese and U.S. HRC prices in tandem, the price divergence observed this month leaves no one surprised.

U.S. HRC prices skyrocketed, while Chinese HRC prices continue to fall. It is true that Chinese HRC prices increased sooner in 2017 (starting June 2017), supported by the steel industry cuts in China. The spread between Chinese and domestic steel prices dropped in Q3 2017, as U.S. domestic steel prices traded sideways. The recent drop in Chinese steel prices may create downward price pressure for domestic steel prices.

Global Steel Market

Chinese steel production cuts continue. The city of Handan ordered steel mills to cut around 25% of their steel production to continue the pollution curb measures. These cuts will be extended from April to mid-November. The coking coal industry will also cut production by around 25% over that period. The cuts started on April 1.

According to the Mexican government’s official gazette, the Mexico economy ministry has formally imposed anti-dumping duties on carbon steel pipe imports from South Korea, Spain, India and Ukraine.

Raw Materials

After the prior raw material price increases at the end of 2017, raw material dynamics seem to have slowed down.

Iron ore prices fell sharply in March. Iron ore prices increased slightly at the beginning of this month. However, the sharp decrease in prices last month may not support the current highs in domestic steel prices.

[caption id="attachment_91243" align="aligncenter" width="580"] Source: MetalMiner analysis of TradingEconomics[/caption]

Coal prices also fell in March. Coal prices seem to be increasing slightly again this month, even if current prices remain far away from the $110/mt highs in January 2018.

[caption id="attachment_91244" align="aligncenter" width="580"] Source: MetalMiner analysis of TradingEconomics[/caption]

What This Means for Industrial Buyers

As steel price dynamics showed a strong upward momentum this month, buying organizations may want to understand price movements to decide when to commit to mid- and long-term purchases. Buying organizations looking for more clarity on when to buy and how much to buy of their steel products may want to take a free trial now to our Monthly Metal Buying Outlook. 

Actual Raw Steel Prices and Trends

The post Raw Steels MMI: Domestic Steel Price Momentum Picks Up appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Aluminum MMI: LME Aluminum Continues Downtrend

The April Aluminum MMI (Monthly Metals Index) fell three points. A weaker LME aluminum price led to the price retracement. The current Aluminum MMI index stands at 94 points, 3% lower than in March.

LME aluminum price momentum slowed again this month. LME aluminum prices remain in a current two-month downtrend.

Buying Aluminum in 2018? Download MetalMiner’s free annual price outlook

[caption id="attachment_91252" align="aligncenter" width="580"] Source: MetalMiner analysis of FastMarkets[/caption]

Though some may want to declare a bearish market for aluminum, prices are still over the $1,975 level, when MetalMiner recommended buying organizations buy forward. Prices may retrace back toward that level. However, if prices fall below the blue-dotted line, aluminum prices could shift toward bearish territory.

SHFE Aluminum

SHFE aluminum spot prices also fell this month. The degree of the decline appears less sharp than for LME prices. However, SHFE aluminum spot prices started to fall in October 2017.

[caption id="attachment_91253" align="aligncenter" width="580"] Source: MetalMiner data from MetalMiner IndX(™)[/caption]

Shanghai Futures Exchange (SHFE) aluminum stocks fell in March for the first time in more than nine months. Decreasing stocks sometimes point to falling inventories of aluminum in China, the world’s biggest aluminum producer and consumer. SHFE stocks dropped by 154 tons in March, according to exchange data released at the beginning of April. However, SHFE aluminum stocks still stand at 970,233 tons. 

MW Aluminum Premiums

Meanwhile, U.S. Midwest aluminum premiums fell for the first time since November 2017. The $0.01/pound drop at the beginning of April comes after a sharp uptrend in the premium. Despite the lower premium this month, the pace of the increases may continue for some time.

What This Means for Industrial Buyers

LME aluminum price retracement may give buying organizations a good opportunity to buy, as prices may increase again.

However, as prices are currently trading lower, buying organizations may want to wait until the market shows a clearer direction. Therefore, adapting the “right” buying strategy becomes crucial to reducing risks.

Given the ongoing uncertainty around aluminum and aluminum products, buying organizations may want to take a free trial now to our Monthly Metal Buying Outlook.

Want to see an Aluminum Price forecast? Take a free trial!

Actual Aluminum Prices and Trends

The post Aluminum MMI: LME Aluminum Continues Downtrend appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

The April Aluminum MMI (Monthly Metals Index) fell three points. A weaker LME aluminum price led to the price retracement. The current Aluminum MMI index stands at 94 points, 3% lower than in March.

LME aluminum price momentum slowed again this month. LME aluminum prices remain in a current two-month downtrend.

Buying Aluminum in 2018? Download MetalMiner’s free annual price outlook

[caption id="attachment_91252" align="aligncenter" width="580"] Source: MetalMiner analysis of FastMarkets[/caption]

Though some may want to declare a bearish market for aluminum, prices are still over the $1,975 level, when MetalMiner recommended buying organizations buy forward. Prices may retrace back toward that level. However, if prices fall below the blue-dotted line, aluminum prices could shift toward bearish territory.

SHFE Aluminum

SHFE aluminum spot prices also fell this month. The degree of the decline appears less sharp than for LME prices. However, SHFE aluminum spot prices started to fall in October 2017.

[caption id="attachment_91253" align="aligncenter" width="580"] Source: MetalMiner data from MetalMiner IndX(™)[/caption]

Shanghai Futures Exchange (SHFE) aluminum stocks fell in March for the first time in more than nine months. Decreasing stocks sometimes point to falling inventories of aluminum in China, the world’s biggest aluminum producer and consumer. SHFE stocks dropped by 154 tons in March, according to exchange data released at the beginning of April. However, SHFE aluminum stocks still stand at 970,233 tons. 

MW Aluminum Premiums

Meanwhile, U.S. Midwest aluminum premiums fell for the first time since November 2017. The $0.01/pound drop at the beginning of April comes after a sharp uptrend in the premium. Despite the lower premium this month, the pace of the increases may continue for some time.

What This Means for Industrial Buyers

LME aluminum price retracement may give buying organizations a good opportunity to buy, as prices may increase again.

However, as prices are currently trading lower, buying organizations may want to wait until the market shows a clearer direction. Therefore, adapting the “right” buying strategy becomes crucial to reducing risks.

Given the ongoing uncertainty around aluminum and aluminum products, buying organizations may want to take a free trial now to our Monthly Metal Buying Outlook.

Want to see an Aluminum Price forecast? Take a free trial!

Actual Aluminum Prices and Trends

The post Aluminum MMI: LME Aluminum Continues Downtrend appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Apple Now Powered by 100 Percent Renewable Energy Worldwide

Apple today announced that its global facilities, including retail stores, offices, data centers, and more, are powered with 100 percent clean energy.

Apple’s 100 percent clean energy figure encompasses facilities in 43 countries, including the Unit…

Apple today announced that its global facilities, including retail stores, offices, data centers, and more, are powered with 100 percent clean energy.

Apple's 100 percent clean energy figure encompasses facilities in 43 countries, including the United States, UK, China, and India. In a statement, Apple CEO Tim Cook said Apple is "committed to leaving the world better than we found it."
"We're committed to leaving the world better than we found it. After years of hard work we're proud to have reached this significant milestone," said Tim Cook, Apple's CEO. "We're going to keep pushing the boundaries of what is possible with the materials in our products, the way we recycle them, our facilities and our work with suppliers to establish new creative and forward-looking sources of renewable energy because we know the future depends on it."
To reach its clean energy goals, Apple has invested in and constructed renewable energy facilities all around the world, such as solar arrays, wind farms, biogas fuel cells, micro-hydration generation systems, and other energy storage technologies.

Solar panels on the roof of Apple Park, Apple's newest Cupertino campus

Apple says it has 25 operational renewable energy projects around the world, totaling 626 megawatts of generation capacity. 286 megawatts of solar PV generation came online in 2017, which Apple says is the most ever in a single year. An additional 15 projects are under construction, and once finished, will offer a total of 1.4 gigawatts of clean renewable energy generation across 11 countries.

Some of Apple's renewable energy projects include the solar panels on the roof of Apple Park, its newest campus, 485 megawatts of wind and solar projects across China, solar facilities in Reno, Nevada and Maiden, North Carolina, more than 300 rooftop solar systems in Japan, and an 800-rooftop renewable energy system in Singapore.

Reaching 100 percent renewable energy for all Apple facilities has been a longtime goal for the company. Since 2014, 100 percent of Apple's data centers have been powered by clean energy, and since 2016, 96 percent of Apple facilities have been run on renewable energy.

In an interview with Fast Company, Apple VP of environment, policy, and social initiatives Lisa Jackson said that Apple has been working hard in recent months to ink energy deals to cover its remotest offices and retail stores in countries like Brazil, India, Israel, Mexico, and Turkey.
"If you look at our trajectory, for the last couple of years we've been close to 100%," she says. "It's just four percent more, but it's four percent done the right way. So this announcement feels like a classic Apple product release. Like our products, we sweat the details, we have pretty strict standards, and we prefer to wait and meet our standards than to rush and make a claim."
Since 2011, Apple's projects have reduced greenhouse gas emissions by 54 percent and prevented close to 2.1 million metric tons of CO2e from entering the atmosphere.

Apple has also been pushing its suppliers to use clean energy, and along with its own announcement, nine additional manufacturing powers have committed to using renewable energy sources, bringing the total number of supplier commitments to 23. New suppliers that plan to use renewable energy include Quanta Computer, Pegatron, Finisar, and more.
Discuss this article in our forums

HQ Trivia Tests New ‘Friends on HQ’ Social Feature in the UK

Popular iPhone trivia app HQ Trivia is testing a new social feature in the UK, which allows its users to locate and add their real life friends in the HQ app, reports TechCrunch.

When you add your friends to the HQ app using the new feature, you can keep track of their progress and see who else is playing in any given game. Adding social features is the next major step for HQ Trivia, which now has a player base in the millions.


If you’re unfamiliar with HQ Trivia, it’s an iPhone and iPad app that hosts multiple daily trivia sessions where players can win real money by correcting answering all of the questions. Each game features a set prize pool, and the prize pool is divided among all of the winners.

In the U.S., games take place at 6:00 p.m. Pacific Time each day, with a second game available at 3:00 p.m. Pacific Time on weekdays. Other special games are also often added to the lineup.

HQ Trivia launched last year and has seen strong user growth since then. The company recently started offering sponsored prizes provided by corporate sponsors that include Nike and Warner Bros. HQ just this morning announced an upcoming guest host episode that will star Dwayne “The Rock” Johnson and will offer a $300,000 prize pool.

This Wednesday afternoon, Dwayne Johnson (@therock) guest hosts HQ for our largest prize ever – $300,000. Keep your phone close 📱 pic.twitter.com/unfVaUX05b

— HQ Trivia (@hqtrivia) April 9, 2018

The Friends on HQ feature is rolling out in the UK first, with a United States launch to follow “soon after.” HQ also plans to roll out “a variety of new features” that will be “leveraging friends’ connections.”

HQ Trivia can be downloaded from the App Store for free. [Direct Link]

Discuss this article in our forums

Popular iPhone trivia app HQ Trivia is testing a new social feature in the UK, which allows its users to locate and add their real life friends in the HQ app, reports TechCrunch.

When you add your friends to the HQ app using the new feature, you can keep track of their progress and see who else is playing in any given game. Adding social features is the next major step for HQ Trivia, which now has a player base in the millions.


If you're unfamiliar with HQ Trivia, it's an iPhone and iPad app that hosts multiple daily trivia sessions where players can win real money by correcting answering all of the questions. Each game features a set prize pool, and the prize pool is divided among all of the winners.

In the U.S., games take place at 6:00 p.m. Pacific Time each day, with a second game available at 3:00 p.m. Pacific Time on weekdays. Other special games are also often added to the lineup.

HQ Trivia launched last year and has seen strong user growth since then. The company recently started offering sponsored prizes provided by corporate sponsors that include Nike and Warner Bros. HQ just this morning announced an upcoming guest host episode that will star Dwayne "The Rock" Johnson and will offer a $300,000 prize pool.


The Friends on HQ feature is rolling out in the UK first, with a United States launch to follow "soon after." HQ also plans to roll out "a variety of new features" that will be "leveraging friends' connections."

HQ Trivia can be downloaded from the App Store for free. [Direct Link]


Discuss this article in our forums

Apple ‘Likely’ to Face Sanctions in South Korea Over Unfair Carrier Contracts

Apple will likely face sanctions from the Korean Fair Trade Commission for unfair iPhone contracts that require local carriers to pay advertising and repair costs, reports The Korea Herald, citing industry sources.

Apple’s Korean division has been c…

Apple will likely face sanctions from the Korean Fair Trade Commission for unfair iPhone contracts that require local carriers to pay advertising and repair costs, reports The Korea Herald, citing industry sources.

Apple's Korean division has been criticized for asking carriers to foot the bill for advertising costs, launch events, and iPhone repairs, leading to an investigation from the Fair Trade Commission. The Korean FTC recently agreed to impose penalties on Apple Korea and has contacted the company for an explanation before making a final decision on whether or not to impose sanctions.


According to The Korea Herald, three Korean carriers, SKT, KT, and LG Uplus, were directed by Apple to air TV commercials promoting the iPhone 8 and the iPhone X, but were reportedly required to pay for the commercials.
"When you see iPhone's TV commercials here, everything is the same except for a telecom operator's logo at the end of the commercials. Still, telecom firms should bear all the costs standing at billions of won," said an executive of one of the three firms on the condition of anonymity.
Apple Korea has been under investigation in Korea since 2016, with the Korean Federal Trade Commission conducting raids in June 2016 and November 2017. It's not clear what kind of fines the company could be facing in the country should the FTC move forward with sanctions.
Discuss this article in our forums

iPhone With Triple-Lens Rear Camera Said to Be Introduced Next Year

At least one new iPhone with a triple-lens rear camera led by a 12-megapixel lens will be introduced in 2019, according to Taiwan’s Economic Daily News.

A very rough mockup of an iPhone X with a triple-lens rear camera

The report claims the camera …

At least one new iPhone with a triple-lens rear camera led by a 12-megapixel lens will be introduced in 2019, according to Taiwan's Economic Daily News.

A very rough mockup of an iPhone X with a triple-lens rear camera

The report claims the camera will have a 6P lens design with 5x zoom, but it doesn't specify whether that pertains to optical, digital, or hybrid zoom. The single-lens iPhone 8 has up to 5x digital zoom, while the dual-lens iPhone 8 Plus and iPhone X have up to 2x optical zoom and 10x digital zoom.

If the report proves to be accurate, then Apple will be following in the footsteps of Huawei and its new P20 Pro smartphone, which also has a three-lens rear camera system, including a primary 40-megapixel f/1.8 lens, a 20-megapixel f/1.6 monochrome lens, and an 8-megapixel f/2.4 telephoto lens with 3x optical zoom.

Huawei P20 Pro

A three-lens rear camera would provide a lot of advantages, including greatly improved low-light performance. In his P20 Pro review, The Verge's Vlad Savov said Huawei's new camera system is "superior to those on the Galaxy S9 and iPhone X," though he noted that personal preference may sway that decision.

All in all, this rumor sets the stage for a third-generation iPhone X with an even better camera, and possibly 3x optical zoom, later next year. As far as this year is concerned, KGI Securities analyst Ming-Chi Kuo doesn't expect many changes to the iPhone X's current dual-lens rear camera system.

Tag: udn.com

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iMovie for Mac Updated With iPhone X Support for App Store Video Previews and Bug Fixes

Apple today released iMovie version 10.1.9 for macOS as a free update to its consumer video editing software on the desktop. It’s the first update to the app since shortly after macOS High Sierra was released.

iMovie 10.1.9 adds support for the iPhone X and additional iPad resolutions in relation to App Previews, the feature for creating short videos that appear alongside screenshots in App Store listings on iPhone and iPad.

The update also includes a range of bug fixes and stability improvements:

• Resolves an issue which could prevent logging into Facebook

• Resolves an issue in which HEVC video clips and HEIF photos could appear black in the viewer

• Resolves an issue in which the import date was used as the capture date when importing from certain SD cards or AVCHD cameras

• Resolves a playback issue with Sound Designer 2 files

• Resolves an issue in which iMovie could hang when quitting the app

• Resolves an issue in which opacity controls may disappear when using iMovie in German or Polish

• Fixes an issue that could prevent sending certain iMovie projects to Final Cut Pro

• Addresses an issue that could lead to slower media import from SD cards on iMac Pro

• Improves stability when working with Camtwist Studio

iMovie and the 10.1.9 update are available for free on the Mac App Store. The update may still be rolling out for some users.

iMovie for iOS has yet to be optimized for the iPhone X display.

Tag: iMovie

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Apple today released iMovie version 10.1.9 for macOS as a free update to its consumer video editing software on the desktop. It's the first update to the app since shortly after macOS High Sierra was released.

iMovie 10.1.9 adds support for the iPhone X and additional iPad resolutions in relation to App Previews, the feature for creating short videos that appear alongside screenshots in App Store listings on iPhone and iPad.

The update also includes a range of bug fixes and stability improvements:

• Resolves an issue which could prevent logging into Facebook
• Resolves an issue in which HEVC video clips and HEIF photos could appear black in the viewer
• Resolves an issue in which the import date was used as the capture date when importing from certain SD cards or AVCHD cameras
• Resolves a playback issue with Sound Designer 2 files
• Resolves an issue in which iMovie could hang when quitting the app
• Resolves an issue in which opacity controls may disappear when using iMovie in German or Polish
• Fixes an issue that could prevent sending certain iMovie projects to Final Cut Pro
• Addresses an issue that could lead to slower media import from SD cards on iMac Pro
• Improves stability when working with Camtwist Studio


iMovie and the 10.1.9 update are available for free on the Mac App Store. The update may still be rolling out for some users.

iMovie for iOS has yet to be optimized for the iPhone X display.

Tag: iMovie

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Final Cut Pro 10.4.1 and Motion and Compressor Updates Now Available on Mac App Store

Apple today released Final Cut Pro version 10.4.1, the latest update to its professional video editing software that it previewed last week.


The update is available from the Mac App Store free of charge for existing users, while Final Cut Pro remains $299.99 for new users in the United States. The update may still be in the process of appearing for some users.

Final Cut Pro 10.4.1 introduces a new ProRes RAW format, which combines the visual and workflow benefits of RAW video with the performance of ProRes, a lossy video compression format developed by Apple for post-production.

With ProRes RAW, editors can import, edit and grade pristine footage with RAW data from the camera sensor, providing ultimate flexibility when adjusting highlights and shadows — ideal for HDR workflows. And with performance optimized for macOS, editors can play full-quality 4K ProRes RAW files on MacBook Pro and iMac systems in real time without rendering. ProRes RAW files are even smaller than ProRes 4444 files, allowing editors to make better use of storage while providing an excellent format for archiving.

The update also adds advanced closed captioning tools that allow video editors to view, edit, and deliver captions from right within the app.


Apple says Final Cut Pro users can import closed caption files directly into their project or create them from scratch. Captions appear in the viewer during playback and can be attached to video or audio clips in the timeline, so they automatically move with the clips to which they’re connected.

Final Cut Pro 10.4.1 release notes:

Closed Captions

• Import caption files into a Final Cut Pro project to automatically create time-synced, connected captions in the timeline

• See captions directly in the Viewer

• Use the Inspector to adjust text, color, onscreen location, and timing

• Create captions in multiple languages and formats in the same timeline

• Use the new Captions tab in the Timeline Index to search text, select captions, and quickly switch between different versions of your captions

• Attach captions to audio or video clips in the timeline

• Extract embedded captions from video to view and edit the captions directly in Final Cut Pro

• Send your project to Compressor in a single step, making it easy to create a compliant iTunes Store package with audio and video files, captions, and subtitles

• Validation indicator instantly warns about common errors including caption overlaps, incorrect characters, invalid formatting, and more

• Embed captions in an exported video file or create a separate caption sidecar file

• Share captioned videos directly to YouTube and Vimeo

• Support for CEA-608 and iTT closed caption formats

ProRes RAW

• Support for ProRes RAW files lets you import, edit, and grade using pristine RAW image data from the camera sensor

• RAW image data provides ultimate flexibility when adjusting highlights and shadows — ideal for HDR workflows

• Enjoy smooth playback and real-time editing on laptop and desktop Mac computers

• Highly efficient encoding reduces the size of ProRes RAW files, allowing you to fit more footage on camera cards and storage drives

• ProRes RAW preserves more of the original image data, making it an ideal format for archiving

• Work natively with ProRes RAW or ProRes RAW HQ files created by ATOMOS recorders and DJI Inspire 2 drone

Enhanced export

• The new Roles tab in the share pane displays title, video, and audio roles in a single, consolidated interface

• Quickly view and choose roles to be included in exported video files

• Roles settings and enabled/disabled states from the timeline are carried through to the share pane

• Embed closed captions in a video file or export a separate captions sidecar file in CEA-608 and iTT formats

Apple has also updated Final Cut Pro’s companion apps Motion and Compressor with ProRes RAW and closed captioning features respectively. Likewise, the updates are now rolling out on the Mac App Store.

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Apple today released Final Cut Pro version 10.4.1, the latest update to its professional video editing software that it previewed last week.


The update is available from the Mac App Store free of charge for existing users, while Final Cut Pro remains $299.99 for new users in the United States. The update may still be in the process of appearing for some users.

Final Cut Pro 10.4.1 introduces a new ProRes RAW format, which combines the visual and workflow benefits of RAW video with the performance of ProRes, a lossy video compression format developed by Apple for post-production.
With ProRes RAW, editors can import, edit and grade pristine footage with RAW data from the camera sensor, providing ultimate flexibility when adjusting highlights and shadows — ideal for HDR workflows. And with performance optimized for macOS, editors can play full-quality 4K ProRes RAW files on MacBook Pro and iMac systems in real time without rendering. ProRes RAW files are even smaller than ProRes 4444 files, allowing editors to make better use of storage while providing an excellent format for archiving.
The update also adds advanced closed captioning tools that allow video editors to view, edit, and deliver captions from right within the app.


Apple says Final Cut Pro users can import closed caption files directly into their project or create them from scratch. Captions appear in the viewer during playback and can be attached to video or audio clips in the timeline, so they automatically move with the clips to which they're connected.

Final Cut Pro 10.4.1 release notes:

Closed Captions
• Import caption files into a Final Cut Pro project to automatically create time-synced, connected captions in the timeline
• See captions directly in the Viewer
• Use the Inspector to adjust text, color, onscreen location, and timing
• Create captions in multiple languages and formats in the same timeline
• Use the new Captions tab in the Timeline Index to search text, select captions, and quickly switch between different versions of your captions
• Attach captions to audio or video clips in the timeline
• Extract embedded captions from video to view and edit the captions directly in Final Cut Pro
• Send your project to Compressor in a single step, making it easy to create a compliant iTunes Store package with audio and video files, captions, and subtitles
• Validation indicator instantly warns about common errors including caption overlaps, incorrect characters, invalid formatting, and more
• Embed captions in an exported video file or create a separate caption sidecar file
• Share captioned videos directly to YouTube and Vimeo
• Support for CEA-608 and iTT closed caption formats

ProRes RAW
• Support for ProRes RAW files lets you import, edit, and grade using pristine RAW image data from the camera sensor
• RAW image data provides ultimate flexibility when adjusting highlights and shadows — ideal for HDR workflows
• Enjoy smooth playback and real-time editing on laptop and desktop Mac computers
• Highly efficient encoding reduces the size of ProRes RAW files, allowing you to fit more footage on camera cards and storage drives
• ProRes RAW preserves more of the original image data, making it an ideal format for archiving
• Work natively with ProRes RAW or ProRes RAW HQ files created by ATOMOS recorders and DJI Inspire 2 drone

Enhanced export
• The new Roles tab in the share pane displays title, video, and audio roles in a single, consolidated interface
• Quickly view and choose roles to be included in exported video files
• Roles settings and enabled/disabled states from the timeline are carried through to the share pane
• Embed closed captions in a video file or export a separate captions sidecar file in CEA-608 and iTT formats

Apple has also updated Final Cut Pro's companion apps Motion and Compressor with ProRes RAW and closed captioning features respectively. Likewise, the updates are now rolling out on the Mac App Store.


Discuss this article in our forums

This Morning in Metals: Rusal Shares Plummet After U.S. Sanctions

This morning in metals news, Rusal saw its stock tumble after being hit with sanctions by the U.S., President Trump criticizes China’s auto tariffs and the U.S. Department of Commerce issued a final affirmative determination in its countervailing duty probe of stainless steel flanges from China. Need buying strategies for steel? Try two free months…

The post This Morning in Metals: Rusal Shares Plummet After U.S. Sanctions appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This morning in metals news, Rusal saw its stock tumble after being hit with sanctions by the U.S., President Trump criticizes China’s auto tariffs and the U.S. Department of Commerce issued a final affirmative determination in its countervailing duty probe of stainless steel flanges from China. Need buying strategies for steel? Try two free months...

The post This Morning in Metals: Rusal Shares Plummet After U.S. Sanctions appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.