(Bloomberg) — Copper continued its upwards charge, hitting the highest since June 2022, as investors bet that curtailed ore supply will struggle to keep up with rising global demand.

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The metal has found itself strongly positioned after a mine-supply shock late last year that is now combining with better-than-expected consumption, as global manufacturing usage picks up. Prices are also drawing support as investors start to pivot into commodities as a hedge against renewed inflation fears.

Futures have risen about 11% on the London Metal Exchange this year. Copper jumped as much as 2.7% to $9,590.50 a ton Friday, after fresh data showing strong Chinese imports during March.

“The underlying narrative remains very positive, both from a challenged supply perspective and with regards to cyclical improvements in global growth,” said Marcus Garvey, the head of commodities strategy at Macquarie. “However, the near-term move looks to be driven by financial flows, both discretionary and systematic moment driven, and is arguably getting ahead of itself now.”

On the LME, hedge funds have increased their net long positions in copper to the highest since February 2021, according to data for the week through April 5. Investors have been focusing on signs of a recovering industrial sector in China, while disruptions at major mines have pressured margins at the Chinese processing plants that account for more than half the world’s supply, raising the prospect they will reduce output of refined metal.

Chinese trade data published Friday show imports of refined copper in the first quarter up 6.9% from a year earlier, even though the country has been expanding its domestic smelting capacity. An index of China’s manufacturing industry jumped at the end of March to indicate sector growth for the first time since last September.

“Investors now betting that China is recovering, demand is coming back, and also elsewhere, manufacturing activity is improving,” ING Bank commodities strategist Ewa Manthey said. “Plus, all the micro drivers are supportive like tightening supply of copper concentrates.”

Copper smelters have come under increasing pressure this year, as a supply squeeze on copper concentrates — a partially processed form of ore that is used to produce refined metal — has driven processing fees to the lowest levels in recent memory.

The concentrates market has tightened dramatically as smelters have expanded capacity while mine supply has been disrupted by the sudden shutdown of First Quantum Minerals Ltd.’s Cobre Panama mine, removing roughly 400,000 tons of the metal from the world’s annual supply. The outlook for mined copper tightened further after Anglo American Plc announced it was scaling back output by about 200,000 tons.

Those lost tons, while painful for First Quantum, Anglo and the Chinese smelters, have been a boon for rival producers. Antofagasta Plc, which mines the metal in Chile, has jumped 37% this year to trade at a record high.

The pressure on smelters is expected to eventually lead to cuts in refined copper production, although no major reductions have yet been announced. Still, data published this week showed that about 8.5% of China’s smelting capacity was inactive in the first quarter, compared with 4.1% a year earlier.

One potential headwind for prices is a buildup in refined copper stocks in China, while spot prices are also trading at a large discount to futures, a market structure which typically signals ample supply.

Copper’s price surge has coincided with a wider commodities bull run. Gold is currently trading at a record high, while analysts and trading houses are becoming bullish on oil hitting $100 a barrel.

“Copper has, just like several other commodities especially metals, increasingly become a buy on dip market with hedge funds adding exposure,” said Ole Hansen, Saxo Bank’s head of commodity strategy.

Copper rose 1.2% to $9,452.50 by 5:18 p.m. in London. In other metals, aluminum reached $2,500 a ton for the first time since February 2023, before paring the gains. Zinc traded 2.3% higher after touching its highest mark in almost a year.

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Vancouver, British Columbia–(Newsfile Corp. – April 11, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") announces the results of an updated Mineral Resource Estimate ("MRE") prepared in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves ("MRMR") (2014) and CIM MRMR Best Practice Guidelines (2019) for its 100% owned Minago nickel platinum group metals ("PGM") project ("Minago Project") in Manitoba's Thompson Nickel Belt in Canada.

The Minago Project MRE, effective date March 18th 2024, was prepared by Mercator Geological Services Limited ("Mercator") and includes a total Measured and Indicated ("M&I") Mineral Resource of 125,700 oz of platinum ("Pt"), 279,330 oz of palladium ("Pd"), and 689.53 million pounds of nickel ("Ni") (43.44 million tonnes grading 0.20 grams per tonne ("g/t") Pd, 0.09 g/t Pt, 0.72% Ni). Table 1 presents the updated Minago Project MRE.

Table 1: Minago Project Mineral Resource Estimate – Effective Date: March 18, 2024

Type	Ni % Cut-off	Category	Tonnes (millions)	Ni %	NiS %	Pd g/t	Pt g/t
In-Pit	0.29	Measured	11.53	0.74	0.53	0.21	0.09
		Indicated	24.44	0.63	0.43	0.16	0.07
		Measured and Indicated	35.97	0.67	0.46	0.18	0.08
		Inferred	3.14	0.66	0.35	0.14	0.06
Underground	0.75	Measured	0.39	0.97	0.75	0.28	0.12
		Indicated	7.08	0.97	0.75	0.29	0.12
		Measured and Indicated	7.47	0.97	0.75	0.29	0.12
		Inferred	6.05	0.97	0.75	0.18	0.08
Combined	0.29/0.75	Measured	11.92	0.75	0.54	0.22	0.09
		Indicated	31.52	0.71	0.5	0.19	0.08
		Measured and Indicated	43.44	0.72	0.51	0.2	0.09
		Inferred	9.2	0.86	0.61	0.16	0.07

 

Mineral Resource Estimate Notes:1.Mineral resources were prepared in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves ("MRMR") (2014) and CIM MRMR Best Practice Guidelines (2019). 2. In-Pit Mineral Resources are defined within an optimized pit shell with pit slope angles ranging between 40⁰ and 51⁰ and an overall 14.8:1 strip ratio (waste: mineralized material). 3. An exchange rate of 1.35 CAN$/US$ was applied. All prices are in US$ currency.4. Pit optimization parameters include: metal pricing at $9.20 per pound Ni, $1,035 per ounce of Pt, $1,380 per ounce of Pd; costs for mining at $1.35 per tonne of waste and $1.54 per tonne processed and an incremental mining cost of $0.03 per 12 meters ("m") below 244 meters above sea level ("masl"), processing at $11.64 per tonne processed, general and administrative ("G&A") at $3.38 per tonne processed; recoveries to concentrate of 72.9% sulphide Ni ("NiS") (average recovery above the cut-off grade ranging from 45.6% to 91.1%), 44% Pt, and 61% Pd; and a 60% concentrate payable for Pt and Pd. An average Ni recovery of 50% can be calculated using the average NiS recovery and the average ratio of NiS to Ni (68%) reported above the cut-off grade. A potential frac-sand overburden unit was assigned a value of $20 per tonne, a recovery factor of 68.8%, mining cost of $1.54 per tonne plus $0.03 per 12m below 244 masl, and processing cost of $6.30 per tonne processed. 5. In-Pit Mineral Resources are reported at a cut-off grade of 0.20% NiS within the optimized pit shell. The 0.20% NiS cut-off grade approximates a 0.29% Ni grade when applying the average ratio of NiS to total Ni for the In-Pit Mineral Resource. The cut-off grade reflects the marginal cut-off grade to define reasonable prospects for eventual economic extraction by open pit mining methods.6. Underground Mineral Resources are reported at a cut-off grade of 0.58% NiS. The 0.58% NiS cut-off grade approximates a 0.75% Ni grade when applying the average ratio of NiS to Ni (77%) for the Underground Mineral Resource. The cut-off grade reflects total operating costs of $59.46 per tonne processed and an average sulphide NiS recovery above the cut-off grade of 87% (ranging from 81% to 91%) to define reasonable prospects for eventual economic extraction by underground mining methods. 7. Deposit grades were estimated from 2 m downhole assay composites using Ordinary Kriging for Ni % and Inverse Distance Squared for Pd g/t and Pt g/t. No grade capping was applied. NiS % block values were calculated from Ni % block values using a regression curve based on Ni and NiS drilling database assay values. The model block size is 6 m (x) by 6 m (y) by 6 m (z). 8. Bulk density was applied on a lithological model basis and reflects averaging of bulk density determinations for each lithology. 9. Estimates of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. See the Company's latest annual and interim management's discussion and analysis for further details.10. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.11. Mineral Resource tonnages are rounded to the nearest 10,000 tonnes.

John Lee, CEO of Flying Nickel states: "This is an outstanding MRE update with an inaugural PGM resource and a 42% increase in the M&I nickel In-Pit Mineral Resource estimate. Those two factors will be studied further in Minago's on-going feasibility study. In a short time under Flying Nickel's watch, the Minago Project is now known for both its nickel and PGM endowment.

"Platinum is a key ingredient in hydrogen engines in the next generation electric vehicles planned by GM and Toyota. Hydrogen engines require up to 5 times more platinum compared to amounts required by today's catalytic converters. Our Minago Project potentially plays an important role in supplying key battery ingredients for the current and future generations of electric vehicles, catering to the North American market."

The updated MRE results in a 41.95% increase in the M&I In-Pit Mineral Resource to 531.31 million pounds of nickel over the previous MRE published in the Company's July 6, 2021 news release (35.97 million tonnes grading 0.67% Ni, 0.08 g/t Pt, 0.18 g/t Pd). The M&I In-Pit resource increase is attributed to the Company's 2022 drill program.

The PGM addition to the MRE is based on PGM assays before 2022, additional PGM assays from the Company's 2022 drill program, and the Company's 2023 PGM assay program on historic drill cores (refer to Company news releases dated September 7, 2022, October 11, 2022, November 14, 2022, January 16, 2023, March 30, 2023, April 19, 2023, May 4, 2023, May 29, 2023, July 12, 2023 and September 28, 2023). In total, 4,041 meters from 47 holes (drilled prior to 2021) were assayed for PGM in 2023. This expanded on the existing PGM sample dataset that includes 6 holes and 1,320 meters of PGM sampling completed by Flying Nickel in 2022 and 70 holes and 9,622 meters of PGM sampling completed by previous operators prior to 2021. A comparison between the 2024 and 2021 Minago Project Mineral Resources is presented in Table 2. Ounces, pounds, and tonnes in the table may not sum due to rounding.

Table 2: Comparison of the 2024 and 2021 Minago Project Mineral Resource Estimates

		Tonnes (millions)		Ni ('000,000 lbs)		2024 MRE ('000oz)
Type	Category	2024 MRE	% Difference from 2021 MRE	2024 MRE	% Difference from 2021 MRE	Pd	Pt
In-Pit	Measured	11.53	0.35%	188.1	1.72%	77.85	33.36
	Indicated	24.44	96.31%	339.45	79.24%	125.72	55
	Measured and Indicated	35.97	50.25%	531.31	41.95%	208.16	92.52
	Inferred	3.14	51.69%	45.69	75.64%	14.13	6.06
Underground	Measured	0.39	-36.07%	8.34	-23.44%	3.51	1.5
	Indicated	7.08	-64.02%	151.4	-54.68%	66.01	27.32
	Measured and Indicated	7.47	-63.18%	159.74	-53.62%	69.65	28.82
	Inferred	6.05	-65.39%	129.38	-55.83%	35.01	15.56
Combined	Measured	11.92	-1.49%	197.09	1.21%	84.31	34.49
	Indicated	31.52	-1.90%	493.38	-5.88%	192.54	81.07
	Measured and Indicated	43.44	-1.79%	689.53	-4.44%	279.33	125.7
	Inferred	9.2	-52.94%	174.43	-45.31%	47.33	20.71

 

The Minago Project has been the subject of over $50 million in exploration, a historical feasibility study and environmental permitting expenditures by various previous interests since 1980', the most recent of these being by Victory Nickel Inc. and Flying Nickel since the Company acquired the project in 2021. On July, 21, 2022, Flying Nickel submitted the Notice of Alteration ("NOA") to Environment Act Licence No. 2981 for the Minago Project. Flying Nickel expects to receive the final decision on the NOA in the fall of 2024.

A technical report prepared pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), which documents the MRE will be filed under the Company's profile on SEDAR+ within 45 days of the date of this news release.

Qualified Person

Matthew Harrington, P. Geo., of Mercator is responsible for technical disclosure regarding the Minago Project MRE contained in this press release. Mr. Harrington is an external consultant to and "independent" of the Company as this term is defined under NI 43-101.

The disclosure of scientific and technical information in this news release has been approved by Robert Smith, P. Geo., who is an external consultant of the Company, as well as "independent" of the Company and a "Qualified Person" as such terms are defined under NI 43-101.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKELEmail: info@flynickel.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Flying Nickel's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking information in this news release includes the estimated grade and quantity of Mineral Resources for the Minago Project, and anticipated uses of any future production from the project.

Forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking statements, including but not limited to: inconsistencies of mineralization and grades; differing recovery rates; changes to project parameters as studies and plans continue to be refined; changes in business plans; ability to secure sufficient financing to advance the Company's project; maintaining cordial business relations with strategic partners and contractual counterparties; risks inherent to mineral resource estimation, including uncertainty as to whether mineral resources will be further developed into mineral reserves; the risk that mineral resources that are not mineral reserves do not have demonstrated economic viability; receiving and maintaining required permits and regulatory approvals to advance the project; maintaining the support of local communities and First Nations for the project; commodity pricing, demand and supply; and general market, industry and economic conditions. Additional risk factors are set out in the Company's latest annual and interim management's discussion and analysis, available on SEDAR+ at www.sedarplus.ca.

Forward-looking statements in this news release are made as of the date of this news release and are based on reasonable assumptions by management as of such date. There can be no assurance that actual results will be consistent with any forward-looking statements included herein. The Company undertakes no obligation to update or revise any forward-looking statements included herein to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205011

Teck Resources Ltd

VANCOUVER, British Columbia, April 04, 2024 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today provided unaudited first quarter 2024 steelmaking coal sales volumes and realized prices.

Our first quarter steelmaking coal sales were 5.9 million tonnes, in line with our guidance of 5.9 – 6.3 million tonnes. The realized steelmaking coal price in the first quarter averaged US$297 per tonne. We expect to report a negative provisional pricing adjustment of $94 million in the first quarter.

Our first quarter 2024 financial results are scheduled for release on April 25, 2024.

About TeckAs one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:Fraser PhillipsSenior Vice President, Investor Relations & Strategic Analysis 604.699.4621fraser.phillips@teck.com

Media Contact:Chris Stannell Public Relations Manager604.699.4368chris.stannell@teck.com

Not for distribution to U.S. news wire services or dissemination in the United States

WHITE ROCK, BC / ACCESSWIRE / April 4, 2024 / Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company"), further to its news release of March 20, 2024, Honey Badger is pleased to confirm that it is increasing the size of its previously announce offering. An additional up to 3,076,923 Flow-Through Shares will be issued in the offering at a price of $0.065 for additional aggregate gross proceeds of up to $200,000. These additional proceeds will be used to fund exploration programs on one or more of the Company's exploration properties located in the Yukon, Northwest Territories, and Nunavut that will qualify as "Canadian Exploration Expenses" and once renounced, "flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada). All dollar amounts are in Canadian funds.

The securities issued in connection with the offering will be subject to a four-month and a day hold period. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange. Finder's fees will be payable in the offering.

Caution to US Investors

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Honey Badger Silver Inc.Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver Indicated and 13.9 Moz of silver Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002. (2,3)

Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."

A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | +1 (604) 828-5886.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, risks relating to the anticipated completion of the Offering, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Honey Badger Silver Inc.

View the original press release on accesswire.com

Vancouver, British Columbia–(Newsfile Corp. – April 4, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") is pleased to announce that it has appointed Neil Duboff to its board of directors, effective immediately. Mr. Duboff is the director nominee of Norway House Creen Nation ("NHCN") pursuant to the Impacts and Benefits Agreement between Flying Nickel and NHCN dated effective March 2, 2023.

Mr. Duboff is the managing partner of the Winnipeg law firm Duboff Edwards Haight & Schachter and has been practicing law since 1985. His practice is focused primarily in the areas of Corporate Structuring, Acquisitions and Financing, Transportation Law and Aboriginal Law with an emphasis on taxation, trusts, Governments and Associations. Mr. Duboff acts for many First Nations across the country, as well as banks, First Nations development companies and First Nations businesses.

Mr. Duboff has been a frequent presenter at conferences throughout Canada, including the Canadian Association of Insurance and Financial Advisors (2001), the Smart Money Fairs, presented by the Winnipeg Free Press, the annual conference of the Native Trade and Investment Association and First Nation Taxation Program, presented by Current information Ltd. and Group Mindset. Mr. Duboff has been an instructor of trust and estate planning in various school divisions as well as Red River Community College, CUPE, the City of Winnipeg and the Winnipeg School Division.

Recognizing the importance of being involved in our community, Mr. Duboff also sits on and takes an active role in many nonprofit organizations throughout the country, including the Native Association of Trust Officers Society Trust and Estate Planners (STEP).

Mr. Duboff is past chair of the Saint Boniface Hospital Foundation, and serves as a trustee of the City of Winnipeg Pension Fund. He has Chaired the Regulated Health Care Professions Council for the Province of Manitoba and formerly sat on the Public Utilities Board.

About Flying Nickel

Flying Nickel is a nickel sulphide exploration-stage mining company. The Company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: info@flynickel.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204272

Shortly after Canada evicted Chinese investors from certain critical minerals assets, the U.S. Department of Defense began developing its own AI program to estimate critical mineral prices and predict supplies as it pushes to jumpstart U.S. production that is essential to long-term national and energy security.

North America is at a critical junction, and the ground beneath Case Lake in northeastern Ontario holds the prospect of helping to secure one mineral in particular—the lack of which poses a significant security problem.

The metal is cesium (Cs), and the Canadian company that just launched a new drilling campaign at Case Lake targeting what could end up being the world’s only new source of this rare mineral has been at the center of an East-West struggle for control of future supply.

As Power Metals Corp (TSXV:PWM,OTC: PWRMF) drills down into Case Lake’s known lithium, tantalum and cesium deposits, it’s become a focal point of North America’s push to secure domestic supply and keep it out of dominating Chinese hands.

Cesium is central to the United States’ goal of winning the 5G race, it plays a key role in aircraft guidance systems, oil and gas drilling, and global positioning satellites.

Cesium is the rarest and most electropositive of five naturally occurring alkali metals, but it is not mined in the United States, which is completely dependent on imports.

And now, this critical metal is the sweetener at Power Metal’s Case Lake lithium play and it’s also the centerpiece of a supply power struggle between China one hand, and Australia and North America on the other.

When the Canadian government in November 2022 ordered the Chinese to divest from three critical minerals mining companies, Power Metals was one of them.

That move left Power Metals in control of two key assets: a potentially high-quality lithium mine and what could end up being the only functioning cesium mine in the world that China doesn’t own.

It also saw an Australian lithium juggernaut jump into the fray to scoop up the Chinese stake, and then increase that stake three times since.

Now, Power Metals is in the middle of another drilling campaign at Case Lake, and results of assays for lithium-tantalum-cesium (LTC) are expected in the coming weeks.

The Chinese jumped in after Power Metals stumbled on cesium while it was drilling for lithium. The Australians were quick to step in for the same reason. Others could soon be circling around this play.

Drilling Down at the Case Lake Discovery

The Case Lake Property, in northeastern Ontario, close to the border with Quebec, consists of 585 cell claims covering some 95 square kilometers with 14 granitic domes and a pegmatite swarm of six spodumene dikes that form a mineralization trend extending for 10 kilometers.

Power Metals (TSXV:PWM,OTC: PWRMF) is drilling 15,700 meters here between 2017 and 2022, primarily targeting lithium, and leading to a world-glass, high-grade lithium discovery of over 4% at shallow, open depths. The unexpected sweetener was a rare cesium discovery, with grades as high as 24% over good intervals—some of the highest-grade cesium found in decades, similar to Australia’s famous Sinclair Mine, according to Power Metals.

But it wasn’t only the high-grade showings of lithium and cesium that attracted first Chinese attention, and then Australian (with a little help from a Canadian government that is very keen to keep critical metals out of Chinese hands) …

It was the anticipated cost of extraction.

Power Metals’ Case Lake property is, unlike the average Canadian mining venue, surrounded by infrastructure in place, including cell phone signals, and it’s accessible year-round.

It’s also exposed on the surface and running as shallow as under 50 meters deep in parts. From a cost-perspective, geology here is helping to de-risk itself.

Those discoveries were further bolstered by another in September 2023, when Power Metals announced the discovery of new pegmatite dikes, confirming the presence of a 10-15-meter wide spodumene bearing pegmatite strike with Lithium content as high as 1.12%.

On February 29, Power Metals launched its new drill campaign at Case Lake, with plans to drill  a total of 4,000 meters to delineate and extend Lithium-Cesium-Tantalum (LCT) mineralization along the geological strike and down-dip of Case Lake’s known mineralization.

“We are very excited to be back at Case Lake and look forward to a successful launch of our winter 2024 exploration program. We believe in the exploration upside at Case Lake, one of the few projects in the world that contain Cesium mineralization in Pollucite and look forward to drill test the high priority exploration targets our team have been able to identify,” Power Metals Chairman Johnathan More, said in a press release.

“The current drilling has identified coarse spodumene mineralization between 2cm – 10cm grain size, these zones displayed between 6% – 15 % spodumene mineralization that occur in a series of stacked pegmatites at Main Zone,” the company said.

Last week, drilling moved to West Joe at Case Lake to test mineralization extensions to the high-grade cesium mineralization found during the 2017-2022 drilling.

The news flow for Power Metals is expected to pick up pace now, with new acquisitions keeping pace and first results from the new drilling campaign expected towards the end of April.

On the acquisition side, Power Metals on March 19 staked the Pelletier Project, with 337 mineral claims over a total surface area of 7,000 hectares in northeast Ontario. Pelletier, another lithium – cesium – tantalum play, has seen previous work done the Ontario Geological Survey, showing evolved granitic pegmatites with anomalous rubidium, cesium, and the potassium to rubidium ratio.

New Drill Campaign with Australian Lithium Giant on Board

In 2022, when Canada forced the Chinese to divest its stake in Power Metals, Australia’s Winsome Resources (ASX:WR1) was quick to grab Chinese mining giant Sinomine Resource Group’s 5.7% stake, and then raise it twice. Today, Winsome owns 19.59% and has a seat on the board, lending Australian lithium and cesium expertise at a critical time.

This is war, and it’s very territorial.

Global technological dominance is at stake here. The U.S. cannot win the 5G race without cesium, nor can it manufacture aircraft guidance systems or global positioning satellites—all key elements that define geopolitics and the global balance of power.

Against this backdrop, Case Lake becomes a highly strategic asset. Cesium is an elite and rare critical metal, and there are only three cesium mines in the world. Australia's Sinclair cesium mine extracted its last cesium in 2019. The Tanco mine in Manitoba, Canada, shut down after a collapse in 2015. The Bikita mine in Zimbabwe was depleted in 2018. That leaves Power Metals (TSXV:PWM,OTC: PWRMF) with potentially the only new cesium mine in the world. The Chinese know it. The Australians know it. By the end of April when the next results come in from the 2024 drilling campaign, everyone will know it.

Other companies to keep an eye on:

BHP Group's (NYSE:BHP) expansive operations encompass a diverse range of mining assets. In Australia, the company operates major iron ore mines in the Pilbara region of Western Australia, which account for a significant portion of global iron ore production. BHP also has copper, coal, and nickel operations in Australia, as well as substantial energy assets, including oil and gas fields. In North and South America, the company has copper and iron ore mines in Chile, Peru, and Colombia, as well as coal operations in the United States. BHP's global reach and diversified portfolio of commodities allow it to meet the demands of customers around the world and contribute to the global supply of essential resources.

BHP Group is committed to operating in a responsible and sustainable manner. The company recognizes the importance of environmental protection and has implemented various initiatives to reduce its environmental impact. BHP has set ambitious targets to reduce its greenhouse gas emissions and has invested in technologies to improve water usage efficiency. The company also works closely with local communities to minimize the social and environmental impacts of its operations. BHP's commitment to sustainability has been recognized by various organizations, including the Dow Jones Sustainability Index, which has ranked BHP as a global leader in sustainability for several consecutive years.

BHP Group's focus on sustainability is not only beneficial for the environment but also aligns with growing consumer and investor demand for ethically sourced and environmentally friendly products. By prioritizing sustainability, BHP is positioning itself as a leader in the mining industry and demonstrating its commitment to long-term value creation for its stakeholders. The company's commitment to sustainability is a key differentiator and a source of competitive advantage in an industry that is increasingly focused on environmental and social responsibility.

Lithium Americas (NYSE:LAC) is a lithium mining company headquartered in Vancouver, Canada. The company was founded in 2007 and has since become a major player in the global lithium market. Lithium is a key component in the production of batteries for electric vehicles (EVs) and other electronic devices, and demand for lithium is expected to grow significantly in the coming years. Lithium Americas has a number of projects in development, including the Thacker Pass lithium mine in Nevada, which is one of the largest known lithium deposits in the world.

Lithium Americas is well-positioned in the global lithium market. The company has a number of promising projects in development, and it has recently secured significant investments and partnerships. Lithium Americas is well-positioned to benefit from the growing demand for lithium and could be a major supplier to the EV industry in the coming years.

Despite its strong position, Lithium Americas faces some challenges. These include the need to secure funding for its projects and the risk of delays in permitting and construction. The company also faces competition from other lithium producers, such as Albemarle and Sociedad Quimica y Minera de Chile (SQM). However, Lithium Americas is well-positioned to overcome these challenges and become a major player in the global lithium market.

Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company headquartered in Charlotte, North Carolina. The company operates in three segments: Lithium, Bromine Specialties, and Catalysts. Albemarle is the world's largest producer of lithium, a key component in electric vehicle batteries. The company also produces a variety of other specialty chemicals, including bromine, catalysts, and pharmaceuticals.

Albemarle was founded in 1887 as the Albemarle Paper Manufacturing Company. The company initially produced paper and pulp, but it diversified into other chemicals in the 1960s. In 1994, Albemarle merged with Ethyl Corporation, a producer of specialty chemicals. The combined company was renamed Albemarle Corporation.

In recent years, Albemarle has benefited from the growing demand for lithium-ion batteries. The company has invested heavily in expanding its lithium production capacity. In 2021, Albemarle announced plans to invest $500 million in a new lithium hydroxide plant in North Carolina. The plant is expected to be operational in 2025. Albemarle is also exploring other opportunities to expand its lithium business, including potential acquisitions.

Piedmont Lithium Limited (NASDAQ:PLL) is an Australian lithium mining company focused on developing its flagship asset, the Piedmont Lithium Project in North Carolina, United States. The Piedmont Lithium Project is a spodumene-rich lithium deposit that is expected to produce 30,000 tonnes of lithium hydroxide per year once operational. The company is also developing the Carolina Tin-Lithium Project in North Carolina, which is home to one of the largest undeveloped hard rock lithium deposits in the United States.

Piedmont Lithium has made significant progress in recent years. In 2021, the company completed a pre-feasibility study for the Piedmont Lithium Project, which confirmed the project's economic viability. The company also secured a $75 million investment from Koch Industries, which is one of the largest private companies in the United States. This investment will help Piedmont Lithium to advance the development of its projects. In 2022, the company announced that it had entered into a partnership with LG Chem, a global leader in battery manufacturing. This partnership will help Piedmont Lithium to secure long-term offtake agreements for its lithium products.

Piedmont Lithium is well-positioned to benefit from the growing demand for lithium. Lithium is a key component of batteries used in electric vehicles and other electronic devices. The demand for lithium is expected to grow significantly in the coming years as the world transitions to a clean energy economy. Piedmont Lithium is one of the few companies that is developing lithium projects in the United States, which is a major advantage. The company is also well-funded and has a strong management team. Piedmont Lithium is a promising company with the potential to become a major player in the global lithium market.

MP Materials Corp. (NYSE:MP) is a publicly traded company headquartered in Las Vegas, Nevada. The company's Mountain Pass mine in California is the only fully integrated rare earth mining and processing facility in the United States. This gives MP Materials a significant competitive advantage and enables it to provide customers with a reliable and secure supply of rare earth materials.

MP Materials produces rare earth oxides and metals, which are essential components in a wide range of applications, including electric vehicles, smartphones, and renewable energy technologies. The company is a vertically integrated producer, meaning it controls all stages of the production process, from mining to refining to manufacturing. This allows MP Materials to ensure the quality and consistency of its products and to meet the specific needs of its customers.

In recent years, MP Materials has made significant investments in its Mountain Pass mine and processing facilities. The company has also expanded its product portfolio and entered into strategic partnerships with leading technology companies. These developments have positioned MP Materials as a global leader in the rare earth industry. The company is well-positioned to benefit from the growing demand for rare earth materials, driven by the transition to a clean energy economy. MP Materials is a leading supplier of rare earth materials to the global technology industry.

Rare Element Resources Ltd. (TSX:RES) is a Canadian exploration and development company focused on rare earth elements (REEs). The company's flagship project is the Bear Lodge project in Wyoming, which contains one of the largest undeveloped REE deposits in the world. The Bear Lodge project has the potential to produce a variety of REEs, including neodymium, praseodymium, dysprosium, and terbium. These REEs are critical to the production of clean energy technologies such as electric vehicles and wind turbines.

In addition to the Bear Lodge project, REE is also developing the Separation Rapids project in Ontario. The Separation Rapids project contains niobium and REEs. Niobium is a metal that is used in the production of steel and superalloys. The Separation Rapids project has the potential to produce a significant amount of niobium, as well as REEs. REE is committed to sustainable and responsible mining practices. The company has developed a comprehensive environmental management plan for the Bear Lodge project that includes measures to protect water quality, air quality, and wildlife. REE is also working with local communities to ensure that the Bear Lodge project benefits the region.

REE has made significant progress on the Bear Lodge project. The company has completed a preliminary economic assessment (PEA) for the project, which outlined the potential for a large-scale, long-life mining operation. REE is currently working on a feasibility study for the project, which is expected to be completed in 2023. The company is also working to secure the necessary permits and approvals for the project. REE is well-positioned to become a leading producer of REEs to meet the growing demand for these materials in clean energy and technology applications.practices and has implemented a number of measures to minimize the environmental impact of its operations.

Avalon Advanced Materials Inc. (TSX:AVL) is a Canadian company that has made significant contributions to the development and manufacturing of specialty materials for various industries. The company specializes in functional materials like conductive inks and adhesives, as well as specialty chemicals such as phosphors and battery materials. Avalon Advanced Materials has established itself as a global leader in producing high-purity metals and alloys used in electronics, aerospace, and biomedical devices.

Avalon Advanced Materials has been focusing on expanding its portfolio of materials for the energy storage industry. The company is actively involved in the development of materials for lithium-ion batteries and solid-state batteries, which are critical components of electric vehicles and renewable energy systems. Avalon's commitment to innovation has resulted in the successful creation of advanced materials that enhance the performance and efficiency of energy storage solutions.

In addition to its core business, Avalon Advanced Materials has also ventured into other areas of materials science. The company has developed specialty coatings for the automotive and construction industries, providing enhanced protection against corrosion and wear. Avalon's expertise in materials engineering has enabled it to create innovative solutions that address specific challenges faced by various sectors, contributing to technological advancements and industrial progress.

First Quantum Minerals Ltd (TSX:FM) is a Canadian-based mining and metals company with a focus on copper, nickel, gold, and zinc production. The company operates mines and projects in various countries, including Zambia, the Democratic Republic of Congo, Mauritania, Finland, Spain, Turkey, Argentina, and Peru.

First Quantum Minerals is a significant player in the global mining industry, with a track record of successful exploration, development, and operation of mining projects. The company's operations contribute to the economic development of the countries in which it operates, creating jobs and generating tax revenue. First Quantum Minerals also maintains a strong commitment to environmental stewardship and sustainable practices, implementing various initiatives to minimize the environmental impact of its operations.

The company's focus on copper, nickel, gold, and zinc production is driven by the increasing global demand for these metals. Copper is a vital component in electrical and electronic products, while nickel is used in the production of stainless steel and other alloys. Gold is a precious metal with a long history of use in jewelry and as a store of value, and zinc is used in a wide range of applications, including galvanizing steel, producing batteries, and manufacturing rubber. First Quantum Minerals' production of these metals plays a crucial role in meeting the global demand for these essential materials.

Allkem Limited (TSX:AKE) is an Australian mining company that was formed in 1993. The company primarily focuses on the production and exploration of lithium, a critical mineral used in electric vehicle (EV) batteries. Allkem operates several lithium mines and projects in Australia, Argentina, and Canada, with a significant presence in the Salar de Atacama, one of the world's richest lithium brine deposits.

Allkem's operations span the entire lithium value chain, from exploration to production and refining. The company has a strong track record of successful exploration and development, having discovered and developed several major lithium deposits. Allkem's portfolio includes the Olaroz lithium brine project in Argentina, the James Bay lithium project in Canada, and the Mt Cattlin spodumene mine in Australia. These operations are expected to contribute significantly to the global supply of lithium in the coming years.

Allkem's work is important because of the critical role that lithium plays in the clean energy transition. Lithium is a key component in EV batteries, which are essential for reducing greenhouse gas emissions and mitigating climate change. As the world shifts towards sustainable transportation, the demand for lithium is expected to soar. Allkem's operations will contribute to meeting this demand by providing a reliable and sustainable supply of lithium to battery manufacturers.

Teck Resources Limited (TSX:TECK) is a diversified mining company headquartered in Vancouver, Canada. It is one of the world's largest producers of zinc and copper and also produces other commodities such as coal, lead, and silver. Teck operates mines and processing facilities in Canada, the United States, Chile, and Peru.

Teck's zinc operations are located in Canada, the United States, and Peru. The company is the world's second-largest producer of zinc, with a production capacity of over 800,000 tonnes per year. Teck's zinc is used in a variety of applications, including galvanized steel, batteries, and chemicals.

Teck's operations are also significant for their contribution to the global supply of battery metals. Zinc is a key component of many types of batteries, including lead-acid batteries and nickel-zinc batteries. Teck's zinc production is therefore essential for the growing demand for batteries in electric vehicles and other applications.

By. Tom Kool

IMPORTANT NOTICE AND DISCLAIMER FORWARD LOOKING STATEMENTS.

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that the Canadian mining sector will continue to protect its supply of critical minerals without involvement of China; that cesium and other metals will remain as critical minerals will continue as a national security issue for Western countries; that access to rare metals, and in particular cesium, will be essential to gaining technical superiority; that cesium and other rare earth metals will continue to be a critical for use in various technologies, including the 5G cellular and wireless technologies; that cesium will continue to be a critical mineral and considered as matter of national security for Western countries; that Power Metals Corp. (the “Company”) and its all-Western investors will be in control of the only cesium mine that China does not own; that the Company’s properties will be able to commercially produce cesium, lithium, tantalum and other critical minerals; that the Company will be able to finance and operationally establish mines on its properties to viably and commercially extract the critical minerals; that Australian shareholders and investors in the Company will provide development and other expertise to assist the Company; that Winsome Resources will continue to own a significant stake in the Company; that the Company’s property will one day have one of the only potential mines producing cesium; that the Company can finance ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.  Risks that could change or prevent these statements from coming to fruition include the development of alternative technologies that do not require the use of metals and resources currently considered as critical; that other resources are utilized in future in favour of rare earth metals such as cesium; that alternative technologies utilize other resources or that cesium, lithium, and tantalum are not utilized; that other companies discover resources of cesium and other battery metals that are more favorable or more easily developed into commercial production that the Company’s property; that the Company’s properties are unable to produce commercial amounts of cesium, lithium, tantalum or other critical metals; that the Company will be unable to finance or operationally establish mines on its properties for commercial extraction of any critical minerals; that the Company’s Australian investors will not be able to provide development and other expertise to meaningful assist the Company; that Winsome Resources may for various reasons divest its stake in the Company in future; that the Company’s properties may fail to develop mines producing cesium; that the Company may be unable to finance its ongoing operations and development; that the business of the Company may be unsuccessful for various reasons. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

INDEMNIFICATION/RELEASE OF LIABILITY. By reading this communication, you acknowledge that you have read and understand this disclaimer, and further that to the greatest extent permitted under law, you release the Publisher, its affiliates, assigns and successors from any and all liability, damages, and injury from this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.

DISCLAIMER. This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position. The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results. This communication is based on information generally available to the public and does not contain any material, non-public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher cannot guarantee the accuracy or completeness of the information. Neither the author nor the publisher, Oilprice.com, was paid to publish this communication concerning Power Metals Corp. The owner of Oilprice.com owns shares and/or stock options of the featured company and therefore has an incentive to see the featured company’s stock perform well. Although the owner of Oilprice.com continues to fully support and believe in the company, its management and the company’s near term and long term prospects, he has a sizeable position and may take this opportunity to liquidate a portion of it shortly after publication of this article.  This share ownership and stated intention to sell should be viewed as a major conflict with our ability to be unbiased. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.

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Read this article on OilPrice.com

By Julian Luk and Joyce Lee

LONDON/SEOUL April 2 (Reuters) – Canadian miner Teck Resources has agreed to pay Korea Zinc $165 per metric ton, a three-year low, to turn its zinc concentrate into refined metal, according to two sources familiar with the matter.

Known as treatment charges (TCs), the fees paid for converting raw materials into zinc metals fall when mine output decreases as smelters have to compete for concentrate.

Korea Zinc declined to comment. Teck Resources said it "does not comment on commercial negotiations".

Teck and Korea Zinc are major players in the market for zinc used to galvanise steel for the construction industry.

Their annual agreement on yearly processing charges that miners pay smelters, for supply from Teck's Red Dog mine in Alaska, is often used as a benchmark by the industry.

The fee Teck has agreed with Korea Zinc has dropped 40% from $274 per ton last year and is the lowest since 2021.

Low zinc prices in recent months have led to mine closures, including Boliden's Tara operation in Ireland. Major mines like Glencore's McArthur River zinc and lead mine in Australia also recently suspended operations due to extreme weather conditions.

Korea Zinc, the world's biggest producer of both zinc and lead, bulk buys concentrate for a group of smelters including Seokpo, operated by Young Poong Corp, this year. (Reporting by Julian Luk and Joyce Lee; Editing by Mark Potter)

Vancouver, British Columbia–(Newsfile Corp. – April 2, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") is pleased to announce a Quarry project partnership (the "Quarry Project") with Norway House Cree Nation ("NHCN") taking place at the Company's 100% owned Minago nickel project (the "Minago Project") in the Thompson Nickel Belt, Manitoba.

The Quarry Project, which began in February 2024 and is expected to be completed in April 2024, consists of stripping limestone materials near surface carried out under Quarry Lease QL-2067 near the proposed mill site, located approximately 0.5 km west of the proposed open pit site for the Minago Project.

The Quarry Project is expected to provide approximately 7,500 tonnes of limestone construction material for NHCN community infrastructure projects, and along with the completion of two all-weather exploration roads (1.7km and 1.3 km respectively) for Flying Nickel, which will support future Minago exploration drilling programs.

Robert Van Drunen, Chief Operating Officer noted, "The Quarry Project demonstrates Flying Nickel's commitment to First Nations engagement and our valued partnership. The Quarry Project provides capacity building through training opportunities in skilled mining positions such as heavy equipment operation, drilling, crushing, surveying, blasting and trucking to local First Nation people."

The Quarry Project will also utilize a First Nation joint venture construction contractor pursuant to the Impact and Benefit Agreement signed between NHCN and Flying Nickel in March 2023 (see Flying Nickel's news release dated March 14, 2023 for further details).

NHCN is a significant Flying Nickel shareholder and the Minago Project is situated within the resource management area of NHCN.

About the Minago Project

Flying Nickel's 100% owned Minago nickel project, located in Canada's Thompson Nickel Belt currently has a National Instrument 43-101 ("NI 43-101") measured and indicated mineral resource of 44.2 million tonnes grading 0.74% Ni (722 million lbs contained nickel) and inferred mineral resource of 19.6 million tonnes also grading 0.74% Ni (319 million lbs contained nickel). Open-pit and underground mining is contemplated. Mineral resources that are not mineral reserves do not have demonstrated economic viability. For further details, see the technical report for the Minago project, completed by Mercator and AGP, with an effective date of February 28, 2022 and available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Qualified Person

The technical contents of this news release have been prepared under the supervision of and approved by Robert Smith, P.Geo. Mr. Smith is an independent consultant to the Company, and a "Qualified Person" as defined by NI 43-101.

About Flying Nickel

Flying Nickel is a nickel sulphide exploration-stage mining company. The Company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: info@flynickel.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Flying Nickel's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. Forward-Looking information in this news release includes the statement concerning the expected timing for completion and benefits of the Quarry Project, and prospects for development of the Minago project.

Forward-Looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking statements, including but not limited to: changes in business plans and project schedules; ability to secure sufficient financing to advance the Company's project; maintaining cordial business relations with strategic partners and contractual counterparties; risks inherent to mineral resource estimation, including uncertainty as to whether mineral resources will be further developed into mineral reserves; the risk that mineral resources that are not mineral reserves do not have demonstrated economic viability; ability to complete the Company's prosed merger with Nevada Vanadium Mining Corp. by plan of arrangement (the "Proposed Transaction"), as announced by press releases on October 5 and August 23, 2022 (collectively, the "Joint News Releases"); and general market, industry and economic conditions. See the Joint News Releases for further details about the Proposed Transaction and its associated risks. Further details about the risk factors concerning the proposed transaction are set out in such news releases. Additional risk factors are set out in the Company's latest annual and interim management's discussion and analysis, available on SEDAR at www.sedarplus.ca.

Forward-Looking statements are based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking statements included herein. Readers are cautioned that all forward- looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203933

In this article, we discuss 10 best silver ETFs. If you want to skip our detailed discussion on the silver industry, head directly to 5 Best Silver ETFs To Buy.

According to a report from the Silver Institute, demand for global silver is expected to reach 1.2 billion ounces in 2024, the second-highest quantity ever recorded. The institute attributes this increase to stronger industrial usage, which is set to reach a new annual high this year. Michael DiRienzo, the executive director of the Silver Institute, has shown optimism regarding silver's prospects, predicting that silver prices could reach $30 per ounce, a level not seen in a decade. He commented:

“We think silver will have a terrific year, especially in terms of demand.”

The Silver Institute anticipates a 9% increase in demand for silverware and a 6% boost in jewelry demand this year, with India projected to be the driving force behind the rise in jewelry purchases. Consumer electronics industry is expected to recover, which would contribute to increased demand for silver. In the short term, however, the institute acknowledges potential headwinds from a slowing Chinese economy and decreased likelihood of early US interest rate cuts, which could have an impact on institutional investment in silver. In spite of that, many market analysts believe that the US Federal Reserve will begin cutting rates in the second half of 2024, which could benefit silver prices. Silver prices tend to have an inverse relationship with interest rates, as higher interest rates make precious metals like silver and gold less attractive compared to interest-bearing investments like bonds. Recognized for its sensitivity to economic changes and higher volatility compared to gold, silver usually outperforms gold during periods of economic expansion but underperforms during economic downturns. Randy Smallwood, CEO of Wheaton Precious Metals, is of the view that gold prices may rise first, followed by a rapid increase in silver prices. He believes that silver has the potential to reach $50 per ounce, but only after gold exceeds $2,200 per ounce.

James Steel, HSBC Chief Precious Metals Analyst, told Bloomberg in an interview:

“We are more positive on silver, platinum, and palladium than we are for gold. We are looking for higher prices in all three. In the case of silver, it has enormous applications environmentally… Almost everything in a hospital that you go into now is coated in a thin layer of silver that you can’t see. (It is) anti-bacterial. Even flak jackets are sewn in silver.”

The global silver market is projected to achieve a compound annual growth rate of around 9.83% by the year 2030. The market has consistently grown due to the widespread use of silver, not just in jewelry but also in other applications such as vessels and chemical processes. The growth of the silver industry is attributed to several factors. The production of silverware, ornaments, and its use in chemical processes has been a significant driver. Additionally, silver's role in solar photovoltaic and electrical appliances for conduction and insulation has contributed to the market growth. The increasing use of silver in oxide batteries has also contributed to the industry’s expansion. Predictions for the silver market suggest that major industry players are working on incorporating innovative technologies into silver production, enhancing its appeal to consumers. Regulatory authorities play an important role in guaranteeing the quality and legitimacy of silver products, which fosters transparency in the commodity market. Consumers, along with industry stakeholders such as manufacturers and retailers, play a significant role in upholding these standards.

In the International Energy Agency's plan to achieve net-zero emissions by 2050, the demand for silver in solar photovoltaic manufacturing could outdo 30% of the total global silver production in 2020 by the year 2030. Recycling panels at the end of their life could meet over 20% of the solar PV industry's demand for aluminum, copper, glass, and silicon, and nearly 70% for silver between 2040 and 2050, as per the IEA's roadmap.

In this article, we discuss some of the best silver ETFs that provide investors with access to stocks like Franco-Nevada Corporation (NYSE:FNV), BHP Group Limited (NYSE:BHP), and Newmont Corporation (NYSE:NEM).

Our Methodology

We curated our list of the best silver ETFs by choosing consensus picks from multiple credible websites. We have mentioned the 5-year share price performance of each ETF as of March 28, 2024, ranking the list in ascending order of the share price performance. It is important to note, however, that not all ETFs have been trading for 5 years. We have also discussed the top holdings of the ETFs to offer better insight to potential investors.

10 Best Silver ETFs To Buy

Photo by Scottsdale Mint on Unsplash

Best Silver ETFs To Buy10. Global X Silver Miners ETF (NYSE:SIL)

5-Year Share Price Performance as of March 28: 3.86%

The Global X Silver Miners ETF (NYSE:SIL) aims to replicate the price and yield performance of the Solactive Global Silver Miners Total Return Index. This ETF offers investors access to a range of silver mining firms. Introduced on April 19, 2010, the fund holds net assets amounting to $882.41 million as of March 28, 2024, with an expense ratio of 0.65%. Its portfolio comprises 32 stocks. The Global X Silver Miners ETF (NYSE:SIL) is one of the best silver ETFs to invest in.

Wheaton Precious Metals Corp. (NYSE:WPM) is the largest holding of the Global X Silver Miners ETF (NYSE:SIL). Wheaton Precious Metals Corp. (NYSE:WPM) is mainly involved in the production and sale of precious metals across North America, Europe, and South America. On March 14, Wheaton Precious Metals Corp. (NYSE:WPM) declared a $0.155 per share quarterly dividend, an increase of 3.3% from the previous dividend of $0.150. The dividend is to be paid on April 15, to shareholders on record as of April 3.

According to Insider Monkey’s fourth quarter database, 28 hedge funds were bullish on Wheaton Precious Metals Corp. (NYSE:WPM), up from 24 funds in the last quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the biggest shareholder of the company, with 21.1 million shares valued at $1.04 billion.

In addition to Franco-Nevada Corporation (NYSE:FNV), BHP Group Limited (NYSE:BHP), and Newmont Corporation (NYSE:NEM), Wheaton Precious Metals Corp. (NYSE:WPM) is one of the best silver stocks to buy.

White Falcon Capital Management made the following comment about Wheaton Precious Metals Corp. (NYSE:WPM) in its second quarter 2023 investor letter:

“Precious Metals Royalty basket (Wheaton Precious Metals Corp. (NYSE:WPM), SSL, TFPM): In the current macroeconomic environment, there are many ways to ‘win’ with gold. It is remarkable that even with record positive real yields, gold is flirting with all time highs. Why? Western central banks are increasing interest rates which means that they will have to pay more interest on the record levels of debt that their government’s owe. Where will the money come from to pay the higher interest expense? The answer is simple – more debt and more money printing! We believe the gold knows this! We believe that precious metals will protect real purchasing power and act as a hedge to the portfolio when macroeconomic uncertainty arises. Owning royalty companies at reasonable valuations gives us a high quality exposure to precious metals without project or cost inflation risks inherent in a mining company.”

9. iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP)

5-Year Share Price Performance: 9.51%

The iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP) is one of the best silver ETFs. It aims to replicate the performance of the MSCI ACWI Select Silver Miners Investable Market Index, which includes global stocks of firms mainly involved in silver exploration or metals mining. This ETF was launched on January 31, 2012. As of March 28, 2024, the fund holds net assets amounting to $173.52 million and comprises a portfolio of 34 stocks. It has an expense ratio of 0.39%.

Pan American Silver Corp. (NYSE:PAAS) is the largest holding of the iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP). Pan American Silver Corp. (NYSE:PAAS) is involved in exploring, developing, extracting, processing, refining, and reclaiming mines that produce silver, zinc, gold, lead, and copper. On February 22, Pan American Silver Corp. (NYSE:PAAS) declared a  $0.10 per share quarterly dividend, in-line with previous. It was paid on March 15.

As per Insider Monkey’s fourth quarter database, 22 hedge funds were bullish on Pan American Silver Corp. (NYSE:PAAS), same as the preceding quarter. David Greenspans’s Slate Path Capital held the largest position in the firm, with 5.26 million shares worth $85.85 million.

8. Amplify Junior Silver Miners ETF (NYSE:SILJ)

5-Year Share Price Performance as of March 28: 11.77%

The objective of the Amplify Junior Silver Miners ETF (NYSE:SILJ) is to reflect the total return performance of the Nasdaq Metals Focus Silver Miners Index. The Amplify Junior Silver Miners ETF (NYSE:SILJ) tracks companies in the silver mining industry that generate the majority of their revenues from silver mining, global silver production, or activities related to developing new silver products. It is one of the best silver ETFs. The ETF was introduced on November 28, 2012. As of March 27, 2024, the fund holds net assets totalling $701.64 million, with a portfolio consisting of 50 stocks. It has an expense ratio of 0.69%.

Harmony Gold Mining Company Limited (NYSE:HMY) is one of the largest holdings of the Amplify Junior Silver Miners ETF (NYSE:SILJ). The company extracts and processes gold. It also explores for deposits of silver, uranium, copper, and molybdenum. On February 28, Harmony Gold Mining Company Limited (NYSE:HMY)’s shares rose 2.3% after the company announced that its profit had tripled to 5.96 billion South African rand in the last six months of 2023 compared to the same period a year earlier. Additionally, the company reported a 14% year-on-year increase in overall production, totalling 832,000 ounces.

As per Insider Monkey’s fourth quarter database, 13 hedge funds were bullish on Harmony Gold Mining Company Limited (NYSE:HMY), same as the previous quarter. David Iben’s Kopernik Global Investors held the largest position in the company, with 16.2 million shares valued at approximately $100 million.

Like Franco-Nevada Corporation (NYSE:FNV), BHP Group Limited (NYSE:BHP), and Newmont Corporation (NYSE:NEM), Harmony Gold Mining Company Limited (NYSE:HMY) is one of the best silver stocks to buy.

7. ProShares Ultra Silver (NYSE:AGQ)

5-Year Share Price Performance as of March 28: 17.74%

The ProShares Ultra Silver (NYSE:AGQ), ranked 7th on our list of the best silver ETFs, seeks to deliver daily investment results that are double the daily performance of the Bloomberg Silver Subindex. The ETF was launched on December 1, 2008, and as of March 28, 2024, it has a net expense ratio of 0.95%.

6. Nippon India Silver ETF (NSE:SILVERBEES)

5-Year Share Price Performance as of March 28: 22.68%

The aim of the Nippon India Silver ETF (NSE:SILVERBEES) is to achieve returns that closely mirror the performance of physical silver in domestic prices. The ETF was introduced on February 2, 2022. The Nippon India Silver ETF (NSE:SILVERBEES) is one of the best silver ETFs to invest in. 

Click to continue reading and see 5 Best Silver ETFs To Buy. 

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Disclosure: None. 10 Best Silver ETFs To Buy is originally published on Insider Monkey.

In this piece, we will take a look at the ten best long term ASX stocks to invest in. If you want to skip our overview of the Australian stock market, then you can take a look at the 5 Best Long Term ASX Stocks To Invest In.

Australia is one of the most prosperous nations in the world and stands shoulder to shoulder with the developed countries of Europe and North America when it comes to progress and quality of life. However, since most of the world's business flows through America, the U.S. stock market is considerably bigger. These facts also hold true for the European Euronext stock exchanges and the London Stock Exchange, especially since the latter is another hub for global finance.

The Australian economy is quite advanced but also relies on traditional sectors such as mining. When it comes to analyzing the best ASX stocks, and particularly those that might be suitable for the long term, it is important to see which industries dominate Australia, what companies are operating in them, and what the future outlook for these sectors might be. On this front, data from the Reserve Bank of Australia can be of some help. Its data shows that the five biggest industries in Australia are mining, health and education, finance, construction, and manufacturing. Percentage wise, they account for 14.3%, 12.8%, 7.4%, 7.1%, and 5.7% of the Australian economy, respectively.

Building on this, the next thing to ask when thinking about the best ASX stocks is whether the current global macroeconomic environment is favorable for some of the biggest sectors of the Australian economy. Well, starting from the biggest Australian industry i.e. mining, this is one of the most sensitive businesses to global economic health. Since 27% of Australian exports go to China, and another 17.5% are headed to Japan, Asian economic health is a key determinant of Asian stock performance.

If you've been following Insider Monkey and have signed up for our newsletter, you'll know that the Chinese economy has been struggling. In fact, even the International Monetary Fund (IMF) hasn't held back and called the economy a 'drag' on global output – a sentiment that comes after ill-fated analyst optimism at the start of 2023 that had seen many analysts opine that a robust recovery in China would prove to be a blessing for commodities and oil in particular. So, since Chinese growth has been lackluster, it's time to see how ASX mining stocks have fared amidst this.

Some notable ASX mining stocks, which trade exclusively on the Australian stock exchange and also through their American Depository Receipts (ADRs) on U.S. stock exchanges such as the NYSE are BHP Group Limited (NYSE:BHP), Rio Tinto Group (NYSE:RIO), Fortescue Ltd (ASX:FMG.AX), and South32 Limited (ASX:S32.AX). Year to date, their performance is -15.05%, -14.17%, -12.56%, and 10.98%, respectively. Looking at this, it's clear that all these stocks are down year to date and they were under pressure earlier this year when the Australian central bank's meeting minutes revealed that officials had actually considered an additional interest rate hike since they were uncertain that the beast of inflation had been fully tamed.

However, while the biggest Australian industry might be struggling, ASX stocks for the second biggest sector namely health and education have done much better. A highly developed education system and a corruption free society have allowed Australian healthcare companies to hold their ground against their global counterparts. Some of the biggest healthcare ASX stocks are CSL Limited (ASX:CSL.AX), Cochlear Limited (ASX:COH.AX), ResMed Inc. (ASX:RMD.AX), and Sonic Healthcare Limited (ASX:SHL.AX).

Year to date, their performance is -0.13%, 12.16%, 18.75%, and -8.69%. Looking at this, it appears that healthcare ASX stocks have done much better than their mining counterparts, and even better than Australia's premier education consulting firm IDP Education Limited (ASX:IEL.AX) whose shares are down 9.59% year to date amidst a rating downgrade by Bell Porter and changes in Canadian visa rules to scrutinize unscrupulous applicants that seek to work in the country instead of studying there.

Since healthcare is a hot ASX stock sector these days, here's what the management of Mesoblast Limited (NASDAQ:MESO), an Australian regenerative medicine company had to say during the firm's Q2 2024 earnings call:

As at December 31 2023, cash reserves were $77.6 million after completion of an institutional placement and entitlement offer of AUD60.3 million in the period. During the period, we also delivered on our planned cost containment strategies, which reduced our cash burn for operating activities. In the three-month period ended December 2023, our cash burn for operating activities was $12.3 million, which is a 25% reduction on the comparative three-month period in FY 2023. In the six-month period ended December 2023, the cash burn was reduced but 14% on the comparative six-month period in FY 2022. We are also pleased to report the 21% reduction in our loss after tax of $32.5 million.

With these details in mind, let's take a look at some best long term ASX stocks. A couple of notable picks are Aristocrat Leisure Limited (ASX:ALL.AX), Telstra Group Limited (ASX:TLS.AX), and BHP Group Limited (NYSE:BHP).

10 Best Long Term ASX Stocks To Invest In

Marine Deswarte/Shutterstock.com

Our Methodology

To make our list of the best ASX stocks for the long term, we ranked the forty most valuable ASX stocks by their average analyst share price target upside. All average share price target data was sourced from Yahoo Finance.

10 Best Long Term ASX Stocks To Invest In 10. QBE Insurance Group Limited (ASX:QBE.AX)

Average Analyst Share Price Target: A$18.89

Percentage Upside: 4.19%

QBE Insurance Group Limited (ASX:QBE.AX) is a sizeable Australian insurance company headquartered in Sydney, New South Wales. The firm provides property, casualty, health, and other insurance products. It's also one of the highest rated stocks on our list, as QBE Insurance Group Limited (ASX:QBE.AX)'s shares are rated Strong Buy on average. The average share price target is A$18.89, pricing in a 4.19% upside over the latest closing share price. The firm's CEO also gave a rather interesting talk in February 2024 when he shared that due to natural disasters, reinsurance companies were often wary of doing business in Australia.

Along with Telstra Group Limited (ASX:TLS.AX), Aristocrat Leisure Limited (ASX:ALL.AX),and BHP Group Limited (NYSE:BHP), QBE Insurance Group Limited (ASX:QBE.AX) is a top long term ASX stock according to analysts.

9. Sonic Healthcare Limited (ASX:SHL.AX)

Average Analyst Share Price Target: A$30.87

Percentage Upside: 4.96%

Sonic Healthcare Limited (ASX:SHL.AX) is the first Australian healthcare company on our list, a segment of the ASX that has performed quite well as of late even as mining giants and other ASX stocks feel the brunt of high interest rates and an economic slowdown in the major Asian economies of China and Japan. The firm is also headquartered in Sydney, and it has more than forty thousand employees on its roster. Sonic Healthcare Limited (ASX:SHL.AX) is a medical devices and diagnostics services provider that caters primarily to the needs of hospitals, health centers, and their patients. Its shares are rated Buy on average but teeter on the edge of Hold.

As Australia's economy continues to struggle, Sonic Healthcare Limited (ASX:SHL.AX) made an important announcement in March 2024 when it revealed that it had expanded its global network. This came in the form of an acquisition of a Swiss laboratory for a $132 million price tag.

8. CSL Limited (ASX:CSL.AX)

Average Analyst Share Price Target: A$302

Percentage Upside: 5.23%

CSL Limited (ASX:CSL.AX) is another major Australian healthcare company. Given the way that ASX healthcare stocks have performed this year, it's unsurprising that it's yet another healthcare stock to make it to our list of the best Australian stocks to buy for the long term. CSL Limited (ASX:CSL.AX)'s shares are rated Buy on average, and its average share price target of A$302 prices in a 5.23% upside. Like Sonic Healthcare, the firm has also been busy on the global front as of late. CSL Limited (ASX:CSL.AX) scored a win in March 2024 when Canadian healthcare regulators approved its medicine for iron deficiency. At the same time, management is also hoping to capture some of the U.S. market for influenza vaccines this season.

7. Washington H. Soul Pattinson and Company Limited (ASX:SOL.AX)

Average Analyst Share Price Target: A$35.6

Percentage Upside: 5.92%

Washington H. Soul Pattinson and Company Limited (ASX:SOL.AX) is a small Australian financial services firm headquartered in Sydney, Australia. It is one of the oldest companies on our list and was set up in 1872. The firm invests in publicly and private companies through the stock market and also through private equity. Only one analyst share price target is available for Washington H. Soul Pattinson and Company Limited (ASX:SOL.AX), and it prices in a 5.92% upside to the shares.

6. Santos Limited (ASX:STO.AX)

Average Analyst Share Price Target: A$8.37

Percentage Upside: 8.00%

Santos Limited (ASX:STO.AX) is an Australian oil and gas exploration and production company headquartered in Adelaide, Australia. It has operations in Australia, the U.S., Timor-Leste, and Papua New Guinea. The shares are rated Buy on average, and the average analyst share price target is A$8.38. Santos Limited (ASX:STO.AX) has been relatively quiet on the news front as of late, after its talks with Australian energy giant Woodside collapsed earlier this year.

Aristocrat Leisure Limited (ASX:ALL.AX), Santos Limited (ASX:STO.AX), Telstra Group Limited (ASX:TLS.AX), and BHP Group Limited (NYSE:BHP) are some ASX stocks with high upside.

Click to continue reading and see 5 Best Long Term ASX Stocks To Invest In.

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Disclosure. None. 10 Best Long Term ASX Stocks To Invest In was initially published on Insider Monkey.

Aurelia Metals Limited (ASX:AMI) shareholders will doubtless be very grateful to see the share price up 41% in the last quarter. But spare a thought for the long term holders, who have held the stock as it bled value over the last five years. Five years have seen the share price descend precipitously, down a full 80%. While the recent increase might be a green shoot, we're certainly hesitant to rejoice. The important question is if the business itself justifies a higher share price in the long term.

On a more encouraging note the company has added AU$25m to its market cap in just the last 7 days, so let's see if we can determine what's driven the five-year loss for shareholders.

View our latest analysis for Aurelia Metals

Aurelia Metals wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. Shareholders of unprofitable companies usually desire strong revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.

In the last half decade, Aurelia Metals saw its revenue increase by 4.6% per year. That's far from impressive given all the money it is losing. Nonetheless, it's fair to say the rapidly declining share price (down 12%, compound, over five years) suggests the market is very disappointed with this level of growth. We'd be pretty cautious about this one, although the sell-off may be too severe. A company like this generally needs to produce profits before it can find favour with new investors.

You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).

earnings-and-revenue-growth

We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. If you are thinking of buying or selling Aurelia Metals stock, you should check out this free report showing analyst profit forecasts.

What About The Total Shareholder Return (TSR)?

Investors should note that there's a difference between Aurelia Metals' total shareholder return (TSR) and its share price change, which we've covered above. Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Aurelia Metals' TSR of was a loss of 78% for the 5 years. That wasn't as bad as its share price return, because it has paid dividends.

A Different Perspective

We're pleased to report that Aurelia Metals shareholders have received a total shareholder return of 30% over one year. Notably the five-year annualised TSR loss of 12% per year compares very unfavourably with the recent share price performance. We generally put more weight on the long term performance over the short term, but the recent improvement could hint at a (positive) inflection point within the business. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Aurelia Metals , and understanding them should be part of your investment process.

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Written by Amy Legate-Wolfe at The Motley Fool Canada

We’re all well aware that Cameco (TSX:CCO) continues to kill it on the TSX today. The mixture of a strong business coupled with uranium spot prices soaring has been great for the stock. But there’s even more growth coming for Cameco stock in the next decade. Along with these other two stocks. So let’s look at these three commodity growth stocks to continue watching in 2024.

Cameco stock

When it comes to Cameco stock, there have been a lot of reasons to consider picking up the stock. First off is the uranium market demand. This company is the leading uranium producer and supplier, especially with sanctions on Russia from the invasion of Ukraine. So if you’re bullish on the long-term growth prospects of nuclear power, and they remain strong for the next decade, then there is a reason to buy up this stock.

That’s even after shares have grown as they have. That’s because Cameco stock is one of the largest uranium producers around the world, and the world’s largest publicly traded uranium company. This provides them with stability in a niche industry.

What’s more, investing in Cameco stock is a great way to get away from oil and gas and diversify your investments towards the future of renewable energy production. And the uranium producer provides especially strong growth given it holds long-term contracts with utility companies to supply uranium. So with shares up 66% in the last year, I’d consider the stock will rise even higher.

Teck stock

Another company that provides you with some strong diversification is Teck Resources (TSX:TECK.B). While Teck stock doesn’t invest in nuclear power, it does invest in basic materials. These are materials we need to power or create the infrastructure we use on a daily basis.

This investment provides you with more diversification with mining activities in copper, zinc, coal and energy. The diversified miner provides global exposure to the Americas and Asia Pacific, as well as Europe. This can also help during times of instability in one country over others. Teck stock has also been increasing its production of in-demand products such as copper, zinc and steelmaking coal, even spinning off another steel-making coal business.

What’s more, Teck stock offers long-term growth from financial stability that comes from a streamlined business and strong cash flow. With so many strong operations and growth opportunities, it’s no wonder the stock has climbed 22% in the last year. And that’s likely only to rise by a stable clip in the years to come.

Lundin mining

Focusing once more on the mining world, I would also keep an eye on Lundin Mining (TSX:LUN). About 63% of Lundin’s business focuses on the production of copper. And that is in high demand right now. Copper is used to power renewable energy assets, plumbing, and electronics. As a conductor of electricity, it’s a crucial part of the digital revolution as well.

Which is why Lundin stock has doubled down, reporting record production in the last year, and seeing even more for the year coming up. While it also offers more diversified assets such as zinc and nickel, its copper that will likely drive long-term growth for the stock.

The company has long focused on operational excellence and cost management in its mining operations. It has demonstrated strong efficiency that should help the miner grow even further in the years to come. So while shares are up 57%, it could still be a deal at this stage.

The post Cameco Stock and More: 3 TSX Commodity Titans to Watch in 2024 appeared first on The Motley Fool Canada.

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2024

In this piece, we will take a look at the 11 best ASX stocks to buy now. If you want to skip our introduction to the Australian stock market, then you can take a look at the 5 Best ASX Stocks To Buy Now.

With a market capitalization of $1.5 trillion, the Australian stock exchange, also called the ASX, is one of the biggest stock exchanges in the world. It is run and managed by the Sydney, Australia based financial services firm ASX Limited (ASX:ASX.AX), and like other stock exchanges, the ASX's composition along with the most valuable companies listed in Australia is somewhat a reflection of the Australian economy.

For instance, the most valuable publicly traded company in Australia is the global mining giant BHP Group Limited (NYSE:BHP). Its latest market capitalization sits at $141 billion, and the firm's top spot in valuation terms is unsurprising given the crucial role that mining plays in the Australian economy. However, when we move further down the ladder of the most valuable Australian stocks, and particularly those that trade on the ASX, the list becomes a bit more diversified and ends up showcasing the advanced nature of Australia's business sector.

To understand this, consider the most valuable ASX stocks after BHP. These are Commonwealth Bank of Australia (ASX:CBA.AX), CSL Limited (ASX:CSL.AX), National Australia Bank Limited (ASX:NAB.AX), and Westpac Banking Corporation (ASX:WBC.AX). This shows us that the most valuable Australian companies include banks and surprisingly, a biotechnology company. While Australian banking giants, such as the behemoth Macquarie Group Limited (ASX:MQG.AX) are known the world over for their portfolios and services, the country is rarely associated with having a prosperous biotechnology sector – an industry mostly linked with European countries such as Denmark.

This top ASX biotechnology stock belongs to CSL Limited, a Melbourne based company with a market capitalization of A$135 and a product lineup covering gene therapies, kidney medicines, and other products. And just like their American counterparts, stocks on the ASX are also sensitive to news about macroeconomic indicators such as interest rates and inflation.

In fact, these have created somewhat of a roller coaster picture for ASX stocks. While Australia is a developed country, its proximity to China and vast geographical distance from the rest of the developed Western world means that Australian businesses have to rely on the Asian economic superpower for their fortunes. Additionally, just like other developed nations, Australia has also suffered from the twin troubles of high inflation and worrying GDP growth, particularly when it comes to GDP per capita. For those out of the loop, a nation's GDP per capita measures the economic output per person living inside its borders, and for Australia, the GDP per capita in US dollars has been in a down trend since 2013.

The third quarter of 2023 also marked the third consecutive quarterly GDP per capita drop in Australia, a trend that previously surfaced roughly two decades back. Similarly, growth in Australia has also been slowing down, but due to the country being blessed with natural resources, has nevertheless managed to avoid the weak picture painted elsewhere in the developed world. For the full year 2023, the Australian GDP grew by 1.5%, while posting a more modest 0.2% growth in Q4.

The relatively modest growth figures which ended up meeting economic estimates have also placed the Royal Bank of Australia (the Australian central bank) at the center of media, investor, and analyst attention. Many believe that further interest rate hikes at a time when Australian consumers are digging into their savings to keep up spending would be unnecessary. On this front, a fresh report from Bloomberg believes that the RBA will continue to hold interest rates at 4.35% since inflation is higher than the bank's preferred range of 2% to 3%.

So the next question to ask is how well are Australian stocks doing in a period of tepid economic growth and consumer pain. On this front, the S&P/ASX 200, an index of Australian stocks maintained by S&P Global Inc. (NYSE:SPGI) provides some insight. The index has gained a modest 11% over the past twelve months, and its year-to-date performance (flat) shows that investors are wary about the prospects of China, Australian interest rates, and economic growth. In fact, the S&P/ASX 200 has posted just 7.5% in gains since the start of the coronavirus pandemic, leaving much to be desired particularly when we consider the heavy hitting American stock indexes.

With these details in mind, let's take a look at some top Australian and ASX stocks to buy. A couple of notable picks are News Corporation (NASDAQ:NWS), BHP Group Limited (NYSE:BHP), and Rio Tinto Group (NYSE:RIO).

11 Best ASX Stocks To Buy Now

Marine Deswarte/Shutterstock.com

Our Methodology

To make our list of the best ASX stocks to buy, we ranked ASX stocks whose American Depository Receipts (ADRs) trade on U.S. stock exchanges by the number of hedge funds that had bought the shares in Q4 2023. Out of these, the top ASX stocks were chosen.

For these best ASX stocks, we used hedge fund sentiment. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

11 Best ASX Stocks To Buy Now11. Immutep Limited (NASDAQ:IMMP)

Number of Q4 2023 Hedge Fund Shareholders: 1

Immutep Limited (NASDAQ:IMMP) is a biotechnology company headquartered in Sydney, Australia. It is a specialized biotechnology firm that seeks to rely on the human body's immune system to fight cancer. Recent analyst coverage for the stock comes only from Baird, which has rated the shares as Outperform.

As of Q4 2023 end, just one out of the 933 hedge funds profiled by Insider Monkey had bought a stake in Immutep Limited (NASDAQ:IMMP). This lone investor was Israel Englander's Millennium Management, which owned a $144,022 stake.

Along with BHP Group Limited (NYSE:BHP), News Corporation (NASDAQ:NWS), and Rio Tinto Group (NYSE:RIO), Immutep Limited (NASDAQ:IMMP) makes it to our list of the top ASX stocks to buy.

10. Incannex Healthcare Inc. (NASDAQ:IXHL)

Number of Q4 2023 Hedge Fund Shareholders: 1

Incannex Healthcare Inc. (NASDAQ:IXHL) is a diversified healthcare company developing treatments for lung diseases, bowel disorders, and other ailments. The firm has been having a busy 2024 by engaging in trials for smoking cessation, anxiety, and other drugs.

By the end of December 2023, one hedge fund among the 933 that were covered by Insider Monkey's research had bought Incannex Healthcare Inc. (NASDAQ:IXHL)'s shares.

9. Benitec Biopharma Inc. (NASDAQ:BNTC)

Number of Q4 2023 Hedge Fund Shareholders: 2

Benitec Biopharma Inc. (NASDAQ:BNTC) is another specialty biotechnology company. It focuses on developing gene based treatments for diseases such as dystrophy. The firm's latest quarter saw it post a $6.7 million loss, with its roughly $20 million in cash and equivalents providing a buffer for some quarters.

During last year's fourth quarter, two out of the 933 hedge funds polled by Insider Monkey were the firm's investors. Benitec Biopharma Inc. (NASDAQ:BNTC)'s biggest hedge fund shareholder is Aaron Cowen's Suvretta Capital Management as it owns $659,631 worth of shares.

8. Mesoblast Limited (NASDAQ:MESO)

Number of Q4 2023 Hedge Fund Shareholders: 2

Mesoblast Limited (NASDAQ:MESO) is a Melbourne based company developing treatments for cancer, liver, and other ailments. The firm scored a win in March 2024 when the FDA expressed support for an accelerated approval for a heart drug.

By the end of 2023's December quarter, two out of the 933 hedge funds part of Insider Monkey's database had bought Mesoblast Limited (NASDAQ:MESO)'s shares. Israel Englander's Millennium Management was the largest investor among these as it owned 1,838 shares.

7. Kazia Therapeutics Limited (NASDAQ:KZIA)

Number of Q4 2023 Hedge Fund Shareholders: 3

Kazia Therapeutics Limited (NASDAQ:KZIA) is a biotechnology firm developing treatments for cancer, lymphoma, and tumors. The firm scored a minor win in February 2024 when it was able to expedite a clinical trial of a brain disease drug after witnessing favorable results.

Insider Monkey dug through 933 hedge fund portfolios for their fourth quarter of 2023 shareholdings to find three Kazia Therapeutics Limited (NASDAQ:KZIA) shareholders.

6. Opthea Limited (NASDAQ:OPT)

Number of Q4 2023 Hedge Fund Shareholders: 3

Opthea Limited (NASDAQ:OPT) is the fifth consecutive biotechnology firm on our list of the best ASX stocks. It makes and sells treatments for eye diseases. Analysts are quite in love with the stock, as they have set an average share price target of $12.72 and rated the shares as Strong Buy.

During last year's final quarter, three out of the 933 hedge funds covered by Insider Monkey research were the firm's shareholders. Robert M. P. Luciano VGI Partners owned the biggest Opthea Limited (NASDAQ:OPT) stake which was worth $8.5 million.

News Corporation (NASDAQ:NWS), BHP Group Limited (NYSE:BHP), Opthea Limited (NASDAQ:OPT), and Rio Tinto Group (NYSE:RIO) are some top stocks that trade on the ASX exchange, have their American Depository Receipts (ADRs) available for trading on U.S. exchanges, and are seeing strong interest when it comes to hedge fund money.

Click to continue reading and see 5 Best ASX Stocks To Buy Now.

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Disclosure. None. 11 Best ASX Stocks To Buy Now was initially published on Insider Monkey.

(Bloomberg) — China’s steel industry is young compared to Europe’s, and its transition to net zero may be slower as it takes a different path to reach government-mandated decarbonization goals, according to BHP Group Ltd.’s Chief Executive Officer Mike Henry.

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While certain unique factors have led European steelmakers to make faster plans to carbon neutrality, China may be at a disadvantage in the global race to remove carbon from heavy industry because its blast furnaces are younger and not due for retirement anytime soon, Henry said in remarks prepared for delivery at the China Development Forum in Beijing on Sunday.

Steel making accounts for roughly 8% of global carbon dioxide emissions. China produces approximately 50% of the world’s steel, with a goal to replace 15% of its output with electric arc furnaces by 2025.

Europe is replacing its traditional coal-fired blast furnaces with electric arc furnaces and recycling vast reserves of scrap steel, Henry said. China however is continuing to add steel on a net basis, meaning the availability of scrap is low.

“Given younger, less carbon intensive blast furnaces, and less scrap availability, Chinese steelmakers are understandably looking at continuing to use these assets rather than replacing them earlier than otherwise would be the case,” the top executive of the world’s biggest miner said.

Manufacturers in China are showing their commitment by using technologies such as hydrogen injection, and carbon capture, utilization and storage to offset rising amounts of greenhouse gas emissions, he said, adding BHP is supporting such efforts through several partnerships.

“China’s willingness to open up to the world, and the world’s willingness to work with China” is integral to the future of energy, he said.

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©2024 Bloomberg L.P.

Vancouver, British Columbia–(Newsfile Corp. – March 18, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") announces that, effective March 15, 2024, Jim Rondeau has stepped down from the Flying Nickel board of directors (the "Board") due to time constraints arising from other commitments. The Board wishes to thank Mr. Rondeau for his valuable contributions to the Company.

Mr. Rondeau was the director nominee of Norway House Cree Nation ("NHCN") pursuant to the Impact and Benefits Agreement with the Company dated effective March 3, 2023. NHCN has been requested to provide the name of its new director nominee to Company. Further details will be announced in due course.

About Flying Nickel

Flying Nickel Mining Corp. is a nickel sulphide mining and exploration company advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR ‎DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202079

Key Insights

• Significantly high institutional ownership implies Anglo American's stock price is sensitive to their trading actions

• The top 19 shareholders own 50% of the company

• Recent purchases by insiders

Every investor in Anglo American plc (LON:AAL) should be aware of the most powerful shareholder groups. We can see that institutions own the lion's share in the company with 65% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.

Institutional investors would appreciate the 9.2% increase in share price last week, given their one-year losses have totalled a disappointing 31%.

Let's delve deeper into each type of owner of Anglo American, beginning with the chart below.

See our latest analysis for Anglo American

ownership-breakdownWhat Does The Institutional Ownership Tell Us About Anglo American?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

Anglo American already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Anglo American's earnings history below. Of course, the future is what really matters.

earnings-and-revenue-growth

Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Anglo American is not owned by hedge funds. BlackRock, Inc. is currently the company's largest shareholder with 8.7% of shares outstanding. For context, the second largest shareholder holds about 7.7% of the shares outstanding, followed by an ownership of 4.6% by the third-largest shareholder.

After doing some more digging, we found that the top 19 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of Anglo American

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

Our data suggests that insiders own under 1% of Anglo American plc in their own names. But they may have an indirect interest through a corporate structure that we haven't picked up on. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own UK£31m worth of shares. It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling.

General Public Ownership

With a 16% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Anglo American. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Company Ownership

We can see that Private Companies own 10.0%, of the shares on issue. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Case in point: We've spotted 4 warning signs for Anglo American you should be aware of, and 1 of them is potentially serious.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

White Rock, British Columbia–(Newsfile Corp. – March 7, 2024) – Honey Badger Silver Inc. (TSXV: TUF) ("Honey Badger" or the "Company"), is pleased to announce that it will be hosting a Live Webinar on Wednesday, March 13th at 1:30PM EST to discuss similarities between Honey Badger's wholly owned Plata Project and the adjacent Rogue Project held by Snowline Gold. To attend the Webinar, please click here to register.

The Company's CEO, Dorian L. (Dusty) Nicol, commented, "Plata hosts spectacular high grade silver mineralization. Recent mapping, compilation, and interpretation lead to the conclusion that Plata's geologic setting is similar to that of Snowline Gold's adjacent Rogue Project. We now interpret Plata as being related to the same style of mineralization ("Reduced Intrusion Related Gold Deposit") as the Valley discovery within the Rogue Project. Our observations at Plata fit into a mineralization zoning model indicating that silver mineralization at Plata is the periphery of a RIRGS mineralizing system, while geophysics suggests the presence of a buried intrusive. This significantly expands the discovery potential at Plata and led to the acquisition of additional claims (see News Release dated March 5, 2024). We look forward to presenting this concept in more detail during our upcoming webinar."

Qualified PersonTechnical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company's CEO (PG, FAusIMM), who is a Qualified Person (QP) for the purpose of National Instrument 43-101.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver Indicated and 13.9 Moz of silver Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002. (2,3)

(1) Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.(2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.(3) Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."(4) A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | +1 (604) 828-5886.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200810

Vancouver, British Columbia–(Newsfile Corp. – March 6, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") announces that its board of directors has approved the grant of incentive stock options (the "Options") to certain officers to acquire a total of 200,000 common shares in the capital of the Company at an exercise price of $0.06. All Options were granted pursuant to the Company's 10% rolling stock option plan (the "Plan") and are subject to the terms of the Plan, the applicable grant agreements and the requirements of the TSX-V. The Options are exercisable for a five-year term expiring March 6, 2029. The Options will vest at 12.5% per quarter for the first two years following the grant date starting on June 6, 2024.

Flying Nickel and Nevada Vanadium Mining Corp. ("Nevada Vanadium") also announce that further to their joint press releases dated October 5, 2022 and August 23, 2022, Flying Nickel and Nevada Vanadium continue to work diligently with their respective advisors towards completion of the proposed acquisition of all of the issued and outstanding common shares of Nevada Vanadium by Flying Nickel by way of a court-approved plan of arrangement (the "Transaction"). Flying Nickel and Nevada Vanadium expect to update the closing schedule in April 2024.

About Flying Nickel

Flying Nickel Mining Corp. is a nickel sulphide mining and exploration company. The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:Phone: Phone: 1.877.664.2535 / 1.877.6NICKELEmail: info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking information in this news release includes the expected timing to determine the closing schedule for the Company's prosed merger with Flying Nickel by plan of arrangement (the "Proposed Transaction").

Forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking statements, including but not limited to: changes in business plans; ability to secure sufficient financing to advance the Company's project, ability to complete the Proposed Transaction, as announced by press releases on October 5 and August 23, 2022 (collectively, the "Joint News Releases"), and unanticipated delays to the timing for closing; and general market, industry and economic conditions. See the Joint News Releases for further details about the Proposed Transaction and its associated risks. Further details about the risk factors concerning the Proposed Transaction are set out in such news releases. Additional risk factors are set out in the Company's latest annual and interim management's discussion and analysis, available on SEDAR+ at www.sedarplus.ca.

Forward-looking statements are based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking statements included herein. Readers are cautioned that all forward looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200553

White Rock, British Columbia–(Newsfile Corp. – March 5, 2024) – Honey Badger Silver Inc. (TSXV: TUF) ("Honey Badger" or the "Company"), announces the acquisition of additional claims adjacent to its wholly owned Plata Project in the Yukon Territory. Recent compilation work on the Company's Plata Project has confirmed similarities to the adjacent exciting Rogue Project owned by Snowline Gold. Rogue appears to be one of the most exciting and potentially one of the largest recent mineral discoveries anywhere in the world.

Honey Badger's CEO, Dorian L. (Dusty) Nicol, commented, "Plata hosts spectacular high grade silver mineralization, traditionally interpreted as a Keno Hill analogue. Recent mapping and compilation work confirm the similarity of Plata geology to the geologic setting at Snowline Gold's adjacent Rogue Project where, about 30km east of Plata at the Valley discovery, recent drilling has intersected exceptional gold intercepts such as 2.48 gpt Au over 553.8 meters. Geologic mapping during the last field season led to our current interpretation of Plata as being related to the same style of mineralization ("Reduced Intrusion Related Gold System" or RIRGS) as at Valley. Our observations at Plata fit into a mineralization zoning model indicating that surface vein mineralization at Plata is the periphery of a RIRGS mineralizing system. This significantly expands the discovery potential at Plata. Our new claims cover a geophysical magnetic low which we interpret as representing a possible buried intrusion that fed the mineralizing system."

The new claims are adjacent to the Plata Project, comprise 69 individual claims covering 1,430 hectares, and cover the heart of the geophysical magnetic low (See Figure 1).

Figure 1

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3204/200425_7d8090940452ea9f_001full.jpg

Figure 2

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3204/200425_7d8090940452ea9f_002full.jpg

Figure 2 shows the location of the Plata claims in relation to Snowline's Rogue Project.

The claims were staked by ECEE Money Ltd. ("ECEE"), a private corporation controlled by W. Douglas Eaton, a former director of Honey Badger, with the concurrence and knowledge of Honey Badger. ECEE has transferred ownership of the claims to Honey Badger at no cost, subject to a 2% net smelter royalty ("NSR") on future commercial gold production. The NSR applies only to gold.

Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company's CEO (PG, FAusIMM), who is a Qualified Person ("QP") for the purpose of National Instrument 43-101.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver Indicated and 13.9 Moz of silver Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002. (2,3)

(1) Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.(2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.(3) Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."(4) A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | +1 (604) 828-5886.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200425

By Rod Nickel

WINNIPEG, Manitoba (Reuters) -BHP has signed non-binding sales agreements for all potash production from both phases of the Canadian mine it is building, and will look to convert those into firm offtakes within 12-18 months, a senior executive told Reuters.

BHP Chief Commercial Officer Ragnar Udd also said the company is not interested in acquiring the idled Cobre Panama copper mine from First Quantum Minerals.

Australia-based BHP's entry into selling potash is expected to shake up the global fertilizer market, which producers in Canada, Belarus and Russia dominate. Fertilizer is a key input for farmers to boost yields of crops such as corn.

BHP expects to begin production at Jansen, Saskatchewan in late 2026, ramping up to 4.35 million metric tons annually. A second phase approved by BHP will boost yearly output to 8.5 million tons, expanding global supply by roughly 10%.

BHP plans to sell potash to distributors, rather than directly to companies that re-sell the fertilizer to farmers, Udd said, declining to name the companies.

BHP has not previously disclosed the sales agreements or how it will market its potash.

Selling to distributors reflects the fact that BHP does not own a potash distribution network and allows it to focus on what it is best at – production, Udd said in an interview.

"A lot of the feedback we've had from customers is how thrilled they are to be seeing a new reliable, stable form of supply coming in from an industry player that's well-known," Udd said.

BHP will turn tentative sales into binding contracts – typically lasting one year – as production comes online, with the first likely in late 2025 or early 2026, Udd said.

BHP will provide stiff competition to Nutrien, Mosaic, Belaruskali and Uralkali. The company's entry may initially be "quite destructive" to prices, said Humphrey Knight, principal analyst of potash and phosphates at consultancy CRU.

Selling to distributors runs counter to how BHP usually operates, controlling much of the supply chain itself, Knight said.

The U.S. is the prime market for Canadian potash due to its proximity, but it has been difficult to penetrate for another producer, Germany's K+S AG, Knight said.

Udd said he would not give specifics about BHP's U.S. plan but said it is "quite comfortable" with its ability to compete there.

BHP, best-known for mining iron ore, copper, nickel and metallurgical coal, is not interested in acquiring First Quantum's Cobre Panama, one of the world's largest open-pit copper mines, which was forced to shut down in December after Panama's top court ruled that its contract was unconstitutional.

"Honestly, while we're always looking for opportunities, I think that's a situation best left for Panama and others," Udd said.

(Reporting by Rod Nickel in Winnipeg; additional reporting by Divya Rajagopal in Toronto, Editing by Franklin Paul)

(Bloomberg) — Iron ore behemoth Fortescue Ltd.’s months-long stock rally suffered a big pullback in February as investors turned sour on the company’s earnings growth and high exposure to slumping metal prices amid China’s rocky recovery.

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The world’s fourth-largest iron ore miner is tipped for the greatest earnings slowdown over the next year compared with peers BHP Group Ltd., Rio Tinto Group and Vale SA, according to data compiled by Bloomberg. Shares of the Australian firm founded by billionaire Andrew Forrest have surged almost 30% in the past six months, outpacing peers. But since the start of this year, shares have tumbled alongside iron ore, one of 2024’s worst-performing major commodities.

As a relatively high-cost producer, the miner is more sensitive to iron ore price swings compared to peers, according to Mohsen Crofts, a Bloomberg Intelligence analyst based in Sydney.

“Fortescue’s operating margins are slimmer than BHP or Rio Tinto’s. Any change in the iron ore price will therefore have a greater Ebitda impact for Fortescue,” he said. “While BHP and Rio now get a material share of their revenue from base metals, Fortescue is for now still fully reliant on iron ore.”

The metal makes up about 91% of Fortescue’s revenue, compared to about half for BHP and Rio Tinto, according to Bloomberg-compiled data. Fortescue’s iron ore business propped up its half-year earnings released in February, bucking a trend of declining profits among its diversified rivals. But now Fortescue’s earnings growth is in doubt, with analyst estimates suggesting 14% downside for next year, the worst among its peers.

Read: Fortescue’s Profit Jump Defies Downturn for Mining Rivals

The Perth-based miner’s bumper stock run has also been halted by dwindling metal prices. China’s property woes have weighed on the steelmaking ingredient, which lost 10% last month. Post-Lunar New Year demand for iron ore remains disappointing amid a slow recovery to construction activities, wintry conditions and sluggish home buying.

“While Fortescue has benefited from significant unit cost reductions, cost inflation is kicking in now,” Jefferies analysts led by Mitch Ryan wrote in a note dated Feb. 28, downgrading the miner to underperform from hold after earnings. “While we believe management has done an excellent job operationally, Fortescue’s share price will be highly dependent on the iron ore price.”

The stock has no buy ratings and an average 12-month price target that’s 16% below Friday’s close, according to data compiled by Bloomberg. Meanwhile, price targets for rivals BHP, Rio Tinto and Vale all point to potential upside.

Still, the stock slump isn’t unique to Fortescue. Miners are the biggest laggards on the Australian benchmark this year as commodity prices from iron ore to lithium and nickel crater. Fortescue has fallen 10% so far this year, with BHP and Rio posting similar drops.

Despite lackluster demand in recent weeks from China, the world’s largest steel manufacturer, analysts expect iron ore futures to regain lost ground in the short and midterm. UBS Group AG, which has a sell rating on Fortescue, estimates the metal’s price will trade around $120 a ton for the remainder of 2024 before a plateau. Demand will be propped up by a growing appetite in India and Southeast Asia thereafter.

“We’ve always said that we would see China steel demand peaking, and it’s exactly what we’ve said,” Rio Tinto Chief Financial Officer Peter Cunningham said in an analyst call last month. “Then you just see demand from elsewhere in Asean and in India growing as well. So, I think all of this is playing out exactly pretty much as we thought it would play out over time.”

–With assistance from Liz Yee Xing Ng.

(Updates with share performance in ninth paragraph)

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In this piece, we will take a look at the 12 best battery stocks to invest in before they take off. If you want to skip our covrerage of all the latest developments in the battery and electric vehicle industry, then you can take a look at the 5 Best Battery Stocks To Invest In Before They Take Off.

The global battery industry, 'powered' by lithium is significantly more important in 2024 than it was in 2014. This is because of the success of Tesla, Inc. (NASDAQ:TSLA) in successfully executing electric vehicle mass production has demonstrated to investors that investing in clean energy stocks can yield favorable results and that electric vehicles have the full potential of being a reality instead of something only in the realm of science fiction.

Yet, just as they do on a smartphone or a laptop, batteries also remain one of the weakest links of modern day electric cars. Smartphones, even those from the multi trillion dollar consumer technology behemoth Apple Inc. (NASDAQ:AAPL), see their batteries degrade over time, even as their other components such as the display or processors are able to perform for years. Similarly, the battery of an electric car made by Tesla or other electric vehicle stocks such as Li Auto Inc. (NASDAQ:LI) is not only one of the most vulnerable components of a car but also one that can be in short supply if there are any fluctuations in the global lithium industry.

Naturally, this means that the global battery industry is not only one of the most valuable in the world but also that it has steady growth ahead of it should the world's plans to phase out internal combustion vehicles bear fruit. Estimates show that the global lithium battery industry was worth $54 billion in 2023, but global macroeconomic troubles left in the wake of the coronavirus pandemic have also shaken up the sector by quite a bit. While previously investors of battery stocks had to keep a close eye on China to ensure that the supply chain of their industry was functioning smoothly, as of February 2024, Canada was the world's preeminent battery supply chain according to Bloomberg's data. This is the first time in history that China has been displaced from the top spot, and it follows a growing global shift towards sustainable and ethical battery sourcing.

What does this mean for battery stocks? Well, this is good news for battery stocks that trade in U.S. exchanges in particular, since not only will American automakers be able to rely on Canada for their battery needs, but tax credit incentives under the Biden-Harris Administration's Inflation Reduction Act (IRA) might also extend to batteries and materials sourced from Canada.

However, even though Canada's rising prominence in the global lithium battery supply chain is a tailwind for battery stocks, they have also entered 2024 on an unstable footing. Their primary high growth market, i.e. electric vehicles, has struggled to operate in a high interest rate and inflation era, so much so that the fourth quarter of 2024 saw electric vehicle king Tesla displaced by the Chinese conglomerate BYD Company Limited (OTC:BYDDF). Tesla's Q4 2023 deliveries stood at 484,507 vehicles, while BYD was able to clock 526,409 in sales for its cheaper electric cars. The duo's tryst is a great example of the cutthroat Chinese market which has seen Tesla and BYD reduce their prices and sacrifice margins to gain market share even if their products make fewer cents on the dollar.

This turmoil in the electric vehicle industry is also present in the global lithium market. Lithium and battery stocks such as Lithium Americas Corp. (NYSE:LAC) and Albemarle Corporation (NYSE:ALB) are down by 31% and 19.29% respectively as lithium prices drop by more than 70% on the back of the simultaneous effects of softer demand and rising supply. The lithium and battery stock price drops come just as U.S. oil giant Exxon Mobil Corporation (NYSE:XOM) might also become a battery stock as it is interested in extracting lithium in Arkansas as part of its bid to become one of the world's biggest lithium suppliers by the end of the decade.

So, as the global battery industry starts to evolve in 2024 and respond to changing macroeconomic conditions, we decided to see which battery stocks are finding favor from hedge funds. Some notable picks are EnerSys (NYSE:ENS), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and Tesla, Inc. (NASDAQ:TSLA).

12 Best Battery Stocks To Invest In Before They Take Off

A close-up of a lithium-ion battery surrounded by a network of silicon nanowires.

Our Methodology

To make our list of the best battery stocks to buy, we ranked the U.S. listed battery stock holdings of the Global X Lithium & Battery Tech ETF, and Amplify Lithium & Battery Technology ETF by their year to date share price performance. Then, the stocks that were down year to date were ranked by the number of hedge funds that had bought the shares during Q4 2023 and the top stocks were selected as the best battery stocks.

For these best battery stocks, we have also mentioned hedge fund sentiment. Hedge funds' top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That's why we pay very close attention to this often-ignored indicator.

12 Best Battery Stocks To Invest In Before They Take Off12. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Number of Hedge Fund Investors In Q4 2023: 17

YTD Share Price Drop: 26.58%

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a Chilean chemical company that supplies cathodes and other battery products to battery manufacturers and other companies. As the global lithium industry slows down, the firm has also struggled on the financial front and missed analyst EPS estimates in three out of its four latest quarters,

For their Q4 2023 shareholdings, 17 out of the 933 hedge funds covered by Insider Monkey's research had bought Sociedad Química y Minera de Chile S.A. (NYSE:SQM)'s shares. Ken Griffin's Citadel Investment Group was the firm's biggest investor courtesy of its $30.4 million stake.

SolarEdge Technologies, Inc. (NASDAQ:SEDG), Sociedad Química y Minera de Chile S.A. (NYSE:SQM), EnerSys (NYSE:ENS), and Tesla, Inc. (NASDAQ:TSLA) are some top battery stocks that hedge funds are piling into.

11. Sigma Lithium Corporation (NASDAQ:SGML)

Number of Hedge Fund Investors In Q4 2023: 18

YTD Share Price Drop: 57.84%

Sigma Lithium Corporation (NASDAQ:SGML) is a Brazilian lithium mining company headquartered in Sao Paulo, Brazil. 2024 is shaping up to be a crucial year for the firm as media reports suggest that Sigma Lithium Corporation (NASDAQ:SGML) and Buffett backed BYD are in talks for deepening their ties.

Insider Monkey's December quarter of 2023 survey covering 933 hedge funds revealed that 18 had held a stake in the firm. Sigma Lithium Corporation (NASDAQ:SGML)'s largest hedge fund investor is Jos Shaver's Electron Capital Partners as it owns $69.7 million worth of shares.

10. Plug Power Inc. (NASDAQ:PLUG)

Number of Hedge Fund Investors In Q4 2023: 19

YTD Share Price Drop: 25.38%

Plug Power Inc. (NASDAQ:PLUG) is an electric vehicle battery technology company that is developing hydrogen based fuel cell systems. Its investors were in for some good news in February 2024 after Roth MKM upgraded the shares to Buy from Hold and increased the share price target to $9 from $4.5.

Insider Monkey took a look at 933 hedge fund portfolios for last year's December quarter and found 19 Plug Power Inc. (NASDAQ:PLUG) shareholders. Vince Maddi and Shawn Brennan's SIR Capital Management owned the biggest stake which was worth $7.7 million.

9. QuantumScape Corporation (NYSE:QS)

Number of Hedge Fund Investors In Q4 2023: 20

YTD Share Price Drop: 5.22%

QuantumScape Corporation (NYSE:QS) is a pure play battery stock that is developing solid state lithium batteries for use in electric vehicles. While the firm's fourth quarter financial results saw it beat analyst loss per share estimates of 34 cents by posting 23 cents in the segment, the shares nevertheless dropped after the results failed to generate any optimism.

By the end of 2023's fourth quarter, 20 out of. the 933 hedge funds tracked by Insider Monkey were the firm's shareholders. QuantumScape Corporation (NYSE:QS)'s largest hedge fund investor is Philippe Laffont's Coatue Management due to its $23.2 million investment.

8. NIO Inc. (NYSE:NIO)

Number of Hedge Fund Investors In Q4 2023: 20

YTD Share Price Drop: 30%

NIO Inc. (NYSE:NIO) is a Chinese electric vehicle company. While we've tried to avoid car makers in this list of the best battery stocks, it deserves a mention since NIO Inc. (NYSE:NIO) plans to soon start making its own 150 kWh batteries later this year.

Insider Monkey's December quarter of 2023 survey covering 933 hedge funds revealed that 20 had invested in NIO Inc. (NYSE:NIO). Out of these, the biggest stakeholder was Jos Shaver's Electron Capital Partners as it owned $40.1 million worth of shares.

7. BHP Group Limited (NYSE:BHP)

Number of Hedge Fund Investors In Q4 2023: 24

YTD Share Price Drop: 14.3%

BHP Group Limited (NYSE:BHP) is crucial to the stability of the battery industry since it is one of the biggest mining companies in the world. When it comes to batteries, the firm is responsible for mining and selling crucial metals such as copper and nickel. Its shares are rated Buy on average and the average analyst share price target is $66.45.

During last year's final quarter, 24 out of the 933 hedge funds covered by Insider Monkey had held a stake in the firm. BHP Group Limited (NYSE:BHP)'s largest hedge fund investor is Ken Fisher's Fisher Asset Management as it owns 19.9 million shares that are worth $1.3 billion.

6. Enovix Corporation (NASDAQ:ENVX)

Number of Hedge Fund Investors In Q4 2023: 25

YTD Share Price Drop: 6.52%

Enovix Corporation (NASDAQ:ENVX) is a pure play battery manufacturer headquartered in Fremont, California. The firm's fourth quarter results weren't helpful for the shares, as they tanked by 2% after Enovix Corporation (NASDAQ:ENVX) reported $7.3 million in revenue and 36 cents loss per share. The revenue beat analyst estimates but the loss per share missed them.

25 out of the 933 hedge funds part of Insider Monkey's Q4 2023 database had invested in Enovix Corporation (NASDAQ:ENVX). Jos Shaver's Electron Capital Partners owned the biggest stake which was worth $40.5 million.

Enovix Corporation (NASDAQ:ENVX)  joins EnerSys (NYSE:ENS), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and Tesla, Inc. (NASDAQ:TSLA) in our list of the best battery stocks.

Click here to continue reading and check out 5 Best Battery Stocks To Invest In Before They Take Off.

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Disclosure: None. 12 Best Battery Stocks To Invest In Before They Take Off is originally published on Insider Monkey.

It's been a pretty great week for Aurelia Metals Limited (ASX:AMI) shareholders, with its shares surging 17% to AU$0.14 in the week since its latest half-year results. Results look to have been somewhat negative – revenue fell 7.2% short of analyst estimates at AU$147m, although statutory losses were somewhat better. The per-share loss was AU$0.0012, 91% smaller than the analysts were expecting prior to the result. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

See our latest analysis for Aurelia Metals

earnings-and-revenue-growth

Taking into account the latest results, the current consensus, from the three analysts covering Aurelia Metals, is for revenues of AU$303.3m in 2024. This implies a discernible 6.3% reduction in Aurelia Metals' revenue over the past 12 months. The loss per share is expected to greatly reduce in the near future, narrowing 25% to AU$0.011. Yet prior to the latest earnings, the analysts had been forecasting revenues of AU$317.1m and losses of AU$0.0035 per share in 2024. So it's pretty clear the analysts have mixed opinions on Aurelia Metals after this update; revenues were downgraded and per-share losses expected to increase.

The average price target was broadly unchanged at AU$0.19, perhaps implicitly signalling that the weaker earnings outlook is not expected to have a long-term impact on the valuation. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Aurelia Metals at AU$0.22 per share, while the most bearish prices it at AU$0.15. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Aurelia Metals' past performance and to peers in the same industry. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 12% by the end of 2024. This indicates a significant reduction from annual growth of 4.6% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 1.3% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining – Aurelia Metals is expected to lag the wider industry.

The Bottom Line

The most important thing to take away is that the analysts increased their loss per share estimates for next year. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Aurelia Metals going out to 2026, and you can see them free on our platform here.

It is also worth noting that we have found 3 warning signs for Aurelia Metals (1 is potentially serious!) that you need to take into consideration.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

MELBOURNE (Reuters) – The world's biggest listed miner BHP Group said on Thursday it was disbanding some global teams and transferring those roles covering functions including planning, environment and heritage protection to its mining asset-level management.

BHP employs more than 80,000 people in staff and contractors around the world and the announcement comes after CEO Mike Henry has flagged the lack of productivity improvement and high costs of its Australian workforce. The changes will take place at BHP's operational assets in Australia and the Americas.

BHP did not say how many jobs would be impacted if any, but the Australian Financial Review reported some roles related to a standalone planning and technical division and a unit for health safety and the environment have already been cut.

"As part of our continuous improvement in how we approach our work, we have made some changes to better align work activities within assets and support quicker decision making,” a BHP spokesperson told Reuters, after an email outlining the changes was sent internally.

The changes mean that responsibility for decisions around health, safety, environment, planning, heritage management, decarbonisation and rehabilitation will come under the heads of each operational asset, according to BHP.

In Australia, BHP's assets include Western Australian iron ore, Nickel West, South Australian copper, Queensland metallurgical coal and New South Wales energy coal. In the Americas it includes its Chilean copper mines and Canadian potash.

Among other changes, warehousing and logistics roles will also become site specific rather than a global function, while operational decarbonisation will come under a national team supporting each country's assets, the company said.

BHP will keep group level teams in health, safety and security, sustainability and social value and its maintenance centre of excellence align standards, consistency, strategy and governance.

The restructure comes as BHP decides the fate of its loss-making Nickel West operations after a flood of Indonesian supply hammered prices in the past year.

Nickel West employs around 3,000 staff and Henry said a decision was expected in the coming months when the miner announced a half-year underlying profit of $6.6 billion on Feb. 20.

(Reporting by Melanie Burton; Editing by Aurora Ellis and Jamie Freed)

In this piece, we will take a look at the 13 best silver mining stocks to invest in now. If you want to skip our overview of the global silver industry, and how silver stocks fluctuate in response to broader macroeconomic trends, then you can take a look at the 5 Best Silver Mining Stocks To Invest In Now.

Just like gold, silver is both a financial asset and a commodity. While its prices are not as closely tracked or expensive as its yellowish counterpart, silver finds itself embedded as a store of value in the form of multiple products such as cutlery. Additionally, the boom in the global computing and electronics industry, which has generated demand for hundreds of thousands of gadgets has led to silver taking a crucial spot in the global industrial supply chain.

Consequently, silver stocks, which typically belong to those companies that either engage directly in silver mining or have stakes in mining properties also fluctuate in response to global industrial conditions. If the conditions are robust and major economies such as China continue to grow, then silver stocks also provide their investors with favorable results. Similarly, silver stocks, like all other stocks, are dependent on the performance of their underlying companies. Due to the unique nature of the global mining industries, where firms are often left to contend with crucial mining sites in countries with varying degrees of political stability.

For instance, when we analyze the 12 month share price performance of the silver stock First Majestic Silver Corp. (NYSE:AG), the graph is rife with sharp dips. One such dip came in March 2023 when the firm announced that it would suspend operations in its mine in Nevada due to high capital bleed and low profitability. Investors didn't react well to the news, and the shares tumbled in double digit percentages before recouping the losses over the next couple of days.

Fast forwarding to 2024, the stock soared by 3% the day after First Majestic Silver Corp. (NYSE:AG) reported its earnings report for the fourth quarter and full year 2023. The financial report saw the silver mining stock beat all odds to overcome analyst EPS pessimism. Its EPS for the fourth quarter sat at a loss of three cents a share, which was a cent shy of analyst estimates. Furthermore, while the firm's annual revenue dropped by 8% in the aftermath of the Nevada shutdown, the same shutdown helped it save costs and deliver a 37% mine operating earnings growth. Yet, despite the financial engineering, the impact of the previous three quarters was unavoidable on the balance sheet, and not only did the adjusted EPS for the quarter remain a loss, but First Majestic Silver Corp. (NYSE:AG)'s basis or non adjusted EPS that removes the impact of selective cash outlays remained in the red for the full year 2023.

Shifting gears to take a brief look at the dynamics of global silver prices before we move to the silver mining stocks to buy, like gold, the metal's price can move in response to U.S. monetary policy. Right now, stock market investors are on a keen lookout for any economic surprises that might compel the Federal Reserve to reduce interest rates. Should there be any surprises on this front, then silver, just like its heftier counterpart gold, might witness a price rise. Additionally, while silver is trading at roughly $23 an ounce right now, a report from Oxford Economics believes that the demand for silver can rise by as much as 46% by the end of 2033 when we consider industrial use cases and by as much as 34% when considering jewelry and other associated items. If capital conditions remain tight and silver miners are unable to meet this demand, then silver in itself might prove to be a solid investment.

So, as silver demand estimates remain optimistic, we decided to see which silver mining stocks hedge funds are buying. Some notable names are BHP Group Limited (NYSE:BHP), Wheaton Precious Metals Corp. (NYSE:WPM), and Newmont Corporation (NYSE:NEM). For more information for the silver mining industry, you can also check out 15 Biggest Silver Mining Companies in the World.

13 Best Silver Mining Stocks To Invest In Now

zoff/Shutterstock.com

Our Methodology

To make our list of the best silver mining stocks, we ranked all silver mining companies by the number of hedge funds that had bought their shares during Q4 2023 and picked out the top stocks.

For these best silver mining stocks, we have also mentioned hedge fund sentiment. Hedge funds' top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That's why we pay very close attention to this often-ignored indicator.

13 Best Silver Mining Stocks To Invest In Now13. Seabridge Gold Inc. (NYSE:SA)

Number of Hedge Fund Investors In Q4 2023: 13

Seabridge Gold Inc. (NYSE:SA) is a Canadian metals mining company with operations in its home country and in the U.S. Its shares jumped by a whopping 19% in February 2024 after the firm announced that its exploration efforts in a Canadian gold site had yielded favorable results.

By the end of last year's fourth quarter, 13 out of the 933 hedge funds part of Insider Monkey's database had owned Seabridge Gold Inc. (NYSE:SA)'s shares. David Iben's Kopernik Global Investors was the firm's biggest hedge fund investor due to its $38 million stake.

Along with Wheaton Precious Metals Corp. (NYSE:WPM), BHP Group Limited (NYSE:BHP), and Newmont Corporation (NYSE:NEM), Seabridge Gold Inc. (NYSE:SA) is a silver mining stock that hedge funds are buying.

12. Osisko Gold Royalties Ltd (NYSE:OR)

Number of Hedge Fund Investors In Q4 2023: 13

Osisko Gold Royalties Ltd (NYSE:OR) is a Canadian precious metal streaming company headquartered in Montreal. Despite the fact that the firm's latest earnings report saw it post a record C$247 million in revenue while it battled with wildfires, the shares are down year to date.

As of Q4 2023, 13 out of the 933 hedge funds profiled by Insider Monkey were the firm's shareholders. Osisko Gold Royalties Ltd (NYSE:OR)'s largest stakeholder in our database is Israel Englander's Millennium Management as it owns $85 million worth of shares.

11. Endeavour Silver Corp. (NYSE:EXK)

Number of Hedge Fund Investors In Q4 2023: 14

Endeavour Silver Corp. (NYSE:EXK) is a pure play silver mining company with operations in North and South America. The firm has struggled on the financial front as of late since it has failed to beat analyst EPS estimates in all four of its latest quarters.

During 2023's December quarter, 14 out of the 933 hedge funds covered by Insider Monkey's research had invested in Endeavour Silver Corp. (NYSE:EXK). Israel Englander's Millennium Management was the biggest investor since it owned $9.1 million worth of shares.

10. MAG Silver Corp. (NYSE:MAG)

Number of Hedge Fund Investors In Q4 2023: 14

MAG Silver Corp. (NYSE:MAG) is a diversified metals miner with operations in Mexico. When it comes to the average share price target of the best silver mining stocks on our list, it has the highest upside due to an average share price target of $17.76. This prices in a nice 105% upside.

Insider Monkey dug through 933 hedge fund portfolios for their fourth quarter of 2023 shareholdings and found that 14 had bought a stake in the firm. MAG Silver Corp. (NYSE:MAG)'s largest hedge fund shareholder is Jean-Marie Eveillard's First Eagle Investment Management as it owns 6.3 million shares that are worth $66.4 million.

9. Coeur Mining, Inc. (NYSE:CDE)

Number of Hedge Fund Investors In Q4 2023: 14

Coeur Mining, Inc. (NYSE:CDE) is an American gold and silver mining company with operations in the U.S., Canada, and Mexico. Its fourth quarter and full year 2023 earnings results were a mixed bunch, as while Coeur Mining, Inc. (NYSE:CDE) grew revenue by 4.5% annually, its loss per share also grew by 2 cents.

As of December 2023 end, 14 out of the 933 hedge funds tracked by Insider Monkey had bought Coeur Mining, Inc. (NYSE:CDE)'s shares. Jean-Marie Eveillard's First Eagle Investment Management owned the biggest stake which was worth $6.9 million.

8. Hecla Mining Company (NYSE:HL)

Number of Hedge Fund Investors In Q4 2023: 14

Hecla Mining Company (NYSE:HL) is a sizeable American metals mining company with access to lucrative properties in Alaska. The shares are rated Buy on average, while the average share price target is $5.74.

During 2023's final quarter, 14 out of the 933 hedge funds part of Insider Monkey's database had held a stake in the firm. Hecla Mining Company (NYSE:HL)'s largest investor among these is Dmitry Balyasny's Balyasny Asset Management due to its $20 million investment.

7. Fortuna Silver Mines Inc. (NYSE:FSM)

Number of Hedge Fund Investors In Q4 2023: 18

Fortuna Silver Mines Inc. (NYSE:FSM) is a Canadian gold and silver mining company with operations in Peru, Mexico, and other countries. It's one of the rare silver mining stocks on our list that has managed to beat analyst EPS estimates in two out of its four latest quarters, as several others have fared worse.

After digging through 933 hedge funds for their December quarter of 2023 shareholdings, Insider Monkey found that 18 were Fortuna Silver Mines Inc. (NYSE:FSM)'s shareholders. Ken Griffin's Citadel Investment Group owned the biggest stake which was worth $9.6 million.

6. Pan American Silver Corp. (NYSE:PAAS)

Number of Hedge Fund Investors In Q4 2023: 22

Pan American Silver Corp. (NYSE:PAAS) is a Canadian metals mining firm headquartered in Vancouver, Canada. It's one of the strongest rated stocks on our list since the average share price target is Strong Buy. The average share price target of $20.58 prices in a 60% share price upside.

During Q4 2023, 22 out of the 933 hedge funds covered by Insider Monkey's research had invested in the firm. Out of these, the largest Pan American Silver Corp. (NYSE:PAAS) shareholder was David Greenspan's Slate Path Capital through its $85.8 million stake.

BHP Group Limited (NYSE:BHP), Pan American Silver Corp. (NYSE:PAAS), Wheaton Precious Metals Corp. (NYSE:WPM), and Newmont Corporation (NYSE:NEM) are some top hedge fund silver mining stock picks.

Click here to continue reading and check out 5 Best Silver Mining Stocks To Invest In Now.

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Disclosure: None. 13 Best Silver Mining Stocks To Invest In Now is originally published on Insider Monkey.

WHITE ROCK, BC / ACCESSWIRE / February 27, 2024 / Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company"), announces that W. Douglas (Doug) Eaton has resigned from Honey Badger's Board of Directors effective today, in order to pursue other business interests.

Dorian L. (Dusty) Nicol, the Company's CEO said, "We thank Doug for his advice and counsel while he served as director of the Company. We are in advanced discussions with several high-quality potential replacements and expect to make an announcement shortly."

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 26.7 Moz of silver (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002. (2,3)

(1)	Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold. This represents contained silver of approximately 12.8 million ounces Indicated and 13.9 million ounces Inferred.
(2)	Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."
(3)	A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | +1 (604) 828-5886.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Honey Badger Silver Inc.

View the original press release on accesswire.com

It's been a good week for Teck Resources Limited (TSE:TECK.B) shareholders, because the company has just released its latest yearly results, and the shares gained 2.2% to CA$52.41. Revenues of CA$15b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at CA$4.64, missing estimates by 8.4%. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for Teck Resources

earnings-and-revenue-growth

Following the latest results, Teck Resources' nine analysts are now forecasting revenues of CA$17.1b in 2024. This would be a notable 14% improvement in revenue compared to the last 12 months. Per-share earnings are expected to step up 20% to CA$5.64. Before this earnings report, the analysts had been forecasting revenues of CA$17.0b and earnings per share (EPS) of CA$5.38 in 2024. So the consensus seems to have become somewhat more optimistic on Teck Resources' earnings potential following these results.

There's been no major changes to the consensus price target of CA$61.58, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Teck Resources at CA$78.00 per share, while the most bearish prices it at CA$45.00. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Teck Resources' past performance and to peers in the same industry. The analysts are definitely expecting Teck Resources' growth to accelerate, with the forecast 14% annualised growth to the end of 2024 ranking favourably alongside historical growth of 8.2% per annum over the past five years. Other similar companies in the industry (with analyst coverage) are also forecast to grow their revenue at 13% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Teck Resources is expected to grow at about the same rate as the wider industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Teck Resources following these results. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. The consensus price target held steady at CA$61.58, with the latest estimates not enough to have an impact on their price targets.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for Teck Resources going out to 2026, and you can see them free on our platform here.

You still need to take note of risks, for example – Teck Resources has 2 warning signs (and 1 which makes us a bit uncomfortable) we think you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

(Bloomberg) — Many of the world’s biggest nickel mines are facing an increasingly bleak future as they wake up to an existential threat: a near limitless supply of low-cost metal from Indonesia.

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With roughly half of all nickel operations unprofitable at recent prices, the bosses of the largest mining companies last week sounded a warning that there was little prospect of a recovery.

The potential collapse of nickel mining from Australia to New Caledonia comes at a time when western governments are scrambling to secure the supply chains needed to decarbonize the global economy. But in an ironic twist, Indonesia’s coal-fired nickel output is pricing out greener metal that’s so far failed to command a market premium.

Wresting control of strategic metals from China has become a focal point of Joe Biden’s administration. Yet while US officials have dashed around the world looking to strike deals for materials such as cobalt and copper, the heaviest reverse has come in Chinese-backed Indonesian nickel, a key component of electric vehicles.

Indonesia now accounts for more than half of world supply, with the potential to reach three-quarters of all production toward the end of the decade.

“There is a serious structural challenge as a result of Indonesian nickel,” said Duncan Wanblad, chief executive officer of Anglo American Plc, after his company took a $500 million writedown on its nickel business last week. “They don’t seem to be letting up anytime soon.”

Read More: US Bid to Loosen China’s Grip on Key Metals for EVs Is Stalling

Traditionally, nickel has been split into two categories: low grade for making stainless steel and high grade for batteries. A huge Indonesian expansion of low-grade production led to a surplus, and, crucially, processing innovations have allowed that glut to be refined into a high-quality product.

Commodity markets have always been susceptible to cyclical volatility, especially when sudden supply and demand imbalances get a push from wider macro upswings or downturns. But what’s happening in nickel right now is different, with the entire industry undergoing a structural shift that has upended forecasts and models.

For BHP Group, the world’s biggest miner, nickel is a rounding error, contributing mostly losses to profits that routinely break $30 billion a year. Yet in recent years the company has championed the metal, seeing it as a key growth market that will help offset its retreat from fossil fuels.

Instead it’s turned into a disaster.

This week CEO Mike Henry conceded that the company will have to make a decision on whether to shutter its flagship nickel business in Australia within the next few months. Having already written down the business’s value by $2.5 billion, Henry said he expects the market to remain in surplus until at least 2030.

Read More: Top Miner BHP Takes $2.5 Billion Nickel Hit After Price Fall

That means the pain is likely just starting.

Macquarie Group Ltd. calculates that about 250,000 tons of annual production — equivalent to about 7% of the total — has been taken out of the market by closures, with another 190,000 of planned output delayed.

Combined with economic slowdowns in China and the US and the choppy adoption of EVs, nickel has been pummeled. The price fell 45% last year, and is currently hovering around $17,000 a ton. According to Macquarie, at $18,000 a ton 35% of production is unprofitable, while at $15,000 a ton that jumps to 75%.

Anglo’s CEO Wanblad, who is reviewing nearly all the company’s mines in bid to cut costs, said that he will give the miner’s nickel business time in the face of the Indonesian threat.

“Our nickel business will undergo a fulsome review in terms of holding its head above water and making a viable profit,” he said. “I’m not giving up on the guys to come up with a plan that might help them readjust themselves into a position where they can function effectively.”

Glencore Plc, which has already moved to shutter its nickel operations on the islands of New Caledonia, is one of the world’s biggest producers with sprawling businesses in Canada and Australia. At current prices, that business will make just $500 million this year, with CEO Gary Nagle expecting prices to remain depressed.

“We see continuing strong production growth out of Indonesia,” Nagle said. “We do not expect significant price recovery in the short to medium term.”

With more than half a decade of oversupply ahead, more mines are likely to close before things get better. Should the market finally rebalance, that will leave Indonesia and China with even more market share then they already have.

Still, Indonesia’s rapid expansion has drawn criticism. Much of its production comes from coal-powered energy, giving it higher emissions per ton than rival producers, and its rapid expansion is eroding rainforests.

With little prospect of a near term recovery, western miners are pinning their hopes on state aid in the short term and a push toward customers — such as carmakers — demanding “greener” nickel in the future and being willing to pay more for it.

BHP this week called for the London Metal Exchange to expand its responsible sourcing policy to include environmental due diligence, helping to differentiate production from Indonesian and Chinese supply.

Still, as conceded by Glencore, so far buyers of nickel are unwilling to pay more.

“Right now there is not much of a premium in the market,” Nagle said.

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Teck Resources TECK reported fourth-quarter 2023 adjusted earnings per share (EPS) of $1.02, beating the Zacks Consensus Estimate of $1.01. The bottom line increased 29% from the year-ago quarter. Earnings benefited from higher steelmaking coal sales volumes and copper prices, which were partially offset by lower steelmaking coal and zinc prices.

Results were also impacted by increased unit costs across TECK’s operations, which include higher costs, reflecting the ongoing production ramp-up at Quebrada Blanca Operations.

Including one-time items, the company reported EPS of 68 cents in the fourth quarter of 2023 compared with the year-ago quarter’s earnings of 38 cents per share.

Teck Resources Ltd Price, Consensus and EPS SurpriseTeck Resources Ltd Price, Consensus and EPS Surprise

Teck Resources Ltd price-consensus-eps-surprise-chart | Teck Resources Ltd Quote

Net sales amounted to $3.02 billion, indicating a 30.5% year-over-year improvement. The top line missed the consensus estimate of $3.12 billion.The gross profit was CAD$1.24 billion ($0.91 billion), up 16% from the year-ago quarter. The gross margin was 30.1% compared with the year-ago quarter’s 36.8%.The adjusted EBITDA was CAD$1.7 billion ($1.25 billion), which marked 28% growth from the year-earlier period. The EBITDA margin was 41.5% in the quarter under review compared with the year-ago quarter’s 42.5%.

Segment Performances

The Steelmaking Coal segment reported sales of CAD$2.27 billion ($1.67 billion), reflecting a year-over-year increase of 35%. The segment reported gross profit of CAD$1.08 billion ($0.8 billion), which was up 28% from the fourth quarter of 2022.

The Copper segment’s net sales surged 52% year over year to CAD$1.14 billion ($0.84 billion) in the reported quarter. The segment’s gross profit was CAD$81 million ($60 million) in the reported quarter, which marked a 67% plunge from the year-ago quarter.The Zinc segment’s net sales were down 1.4% year over year to CAD$701 million ($515 million) in the reported quarter. The segment’s gross profit improved 25% to CAD$71 million ($52 million).

Cash Flow & Balance Sheet

Teck Resources generated a cash flow of CAD$1.13 billion ($828 million) from operating activities in the fourth quarter of 2023, up 21% year over year. The company had cash and cash equivalents of CAD$0.7 billion ($0.5 billion) at the end of 2023 compared with CAD$1.9 billion at the end of 2022. Total debt was CAD$6 billion ($4.4 billion) at the end of 2023.

On Feb 21, 2024, TECK’s board authorized up to a $500 million share buyback and also approved the payment of a quarterly base dividend of 12.50 cents per share. The dividend will be paid on Mar 28, 2024, to shareholders of record as of Mar 15, 2024.

Guidance

Teck Resources expects steelmaking coal production to be between 24 million tons and 26 million tons for 2024. Copper production is anticipated to be 465,000-540,000 tons. Zinc production is projected between 565,000 tons and 630,000 tons. Refined zinc is estimated between 275,000 tons and 290,000 tons.For first-quarter 2024, the company expects sales of zinc in concentrate of 70,000-85,000 tons at Red Dog. Steelmaking coal sales are projected to be 5.9-6.3 million tons for the quarter.

Fiscal 2023 Results

Teck Resources reported adjusted EPS of $3.82 in 2023, beating the Zacks Consensus Estimate of $3.81. Compared with EPS of $7.01 in 2023, the figure marked a decline of 45.5%.

Including one-time items, the company reported EPS of $3.40 in 2023 compared with $4.76 in 2022.Net sales amounted to $15 billion in 2023, indicating a 13% year-over-year decline. The top line missed the Zacks Consensus Estimate of $11.25 billion.

Sale of Steelmaking Coal Unit

On Nov 13, 2023, Teck Resources announced that it has agreed to sell its entire stake in its steelmaking coal business, Elk Valley Resources (“EVR”), for an implied enterprise value of $9 billion. The majority of the sale (77%) will be made to Glencore plc GLNCY and 20% to Nippon Steel Corporation. Proceeds will be used to strengthen TECK’s balance sheet while returning cash to shareholders. It will help the company focus on growing its extensive copper portfolio and thereby capitalize on the energy transition trend.

Glencore will acquire a 77% stake in EVR for $6.9 billion in cash. The deal, subject to customary closing adjustments, is expected to close by the third quarter of 2024.

Nippon Steel Corporation completed the acquisition of the 20% interest in EVR on Jan 3, 2024, with a payment of $1.3 billion in cash to Teck.POSCO PKX has taken up the remaining 3% interest in EVR, in exchange for the company’s current 2.5% interest in Elkview Operations and 20% interest in the Greenhills joint venture.

Until the deal is closed, Teck will continue to operate the steelmaking coal business and will retain all cash flows, which are estimated to be around $1 billion.

Price Performance

The company’s shares have dipped 1.2% in the past year compared with the industry’s 0.3% decline.

Zacks Investment Research

Image Source: Zacks Investment Research

Zacks Rank & Stocks to Consider

Teck Resources currently carries a Zacks Rank #3 (Hold).

A better-ranked stock from the basic materials space is Carpenter Technology Corporation CRS, which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $3.96 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 34% in a year.

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Zacks Investment Research

In this article, we discuss 11 best copper stocks to invest in. If you want to skip our discussion on the copper industry, head over to 5 Best Copper Stocks To Invest In According To Analysts. 

Due to the explosive growth in the electrical and electronics, construction, industrial machinery manufacturing, automotive manufacturing, and infrastructure sectors, the copper market is expected to grow from $166.25 billion in 2023 to $179.84 billion in 2024, exhibiting a compound annual growth rate of 8.2%. Similarly, the copper market is projected to reach $240.52 billion in 2028, indicating a CAGR of 7.5% throughout the forecast period of 2024-28. 

Global copper producers experienced strong demand from China in the first half of the year due to decarbonization efforts, countering a weak property market. However, the future outlook depends on Beijing's stimulus measures. The copper market may shift into a modest, multiyear surplus until 2025, driven by increased mined supply. Similarly, South America's challenging regulatory and political environments may support the market in the midterm. According to Bloomberg Intelligence, near-term copper prices could dip below $8,000 a ton, with marginal cost support around $7,400. Miners anticipate a significant output increase in the second half of this year, with 2024 showing a potential 4-4.5% growth in mined supply. However, Bloomberg suggests that the benefits of greenfield and brownfield projects may start to diminish from 2027. Regulatory approvals could become more protracted, potentially causing a slowdown in mined copper supply growth by the middle of the decade, leading to market deficits by the end of the decade unless development speeds up.

According to a January 2024 CNBC report, copper prices are projected to surge by over 75% in the next two years due to disruptions in mining supply and increased demand for the metal, particularly driven by the global push for renewable energy. The rise in demand, fueled by the green energy transition, coupled with an expected decline in the US dollar in the latter half of 2024, is expected to contribute to the upward trend in copper prices. Market expectations of potential rate cuts by the US Federal Reserve this year, leading to a weaker dollar, are seen as a factor making US dollar-priced copper more appealing to foreign buyers.

Over 60 countries endorsed a plan at the recent COP28 climate change conference to triple global renewable energy capacity by 2030. Citibank sees this development as highly positive for copper. In a December report, the bank predicted that the increased targets for renewable energy would lead to an additional demand for 4.2 million tons of copper by 2030. This surge in demand could potentially drive copper prices to $15,000 per ton in 2025, surpassing the previous record peak of $10,730 per ton reached in March 2023. Citi analysts project a positive scenario for copper prices, contingent on a very soft economic landing in the US and Europe, an earlier rebound in global growth, and substantial easing measures in China. The analysts also emphasize the importance of ongoing investments in the energy transition sector for this future.

Some of the best copper stocks to buy include Newmont Corporation (NYSE:NEM), Teck Resources Limited (NYSE:TECK), and Freeport-McMoRan Inc. (NYSE:FCX). 

Our Methodology 

We shortlisted the top copper stocks by considering their upside potential, relying on analyst price targets as of February 24. We have assessed the hedge fund sentiment from Insider Monkey’s database of 933 elite hedge funds tracked as of the end of the fourth quarter of 2023. The list is arranged in ascending order of the number of hedge fund holders in each firm. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). 

11 Best Copper Stocks To Invest In According To Analysts

An aerial view of a copper mine, showing the intricate workings of heavy machinery.

Best Copper Stocks To Invest In According To Analysts11. Metals Acquisition Limited (NYSE:MTAL)

Number of Hedge Fund Holders: N/A

Average Upside Potential: 15.80%

Metals Acquisition Limited (NYSE:MTAL) is based in Saint Helier, Jersey, with a primary focus on operating and acquiring metals and mining businesses. One of its active operations includes the CSA copper mine located in Cobar, Australia. On October 17, 2023, Metals Acquisition Limited (NYSE:MTAL) announced that it is set to raise approximately $20 million through a private placement financing by selling 1.83 million ordinary shares at a price of $11 per share. The funds generated will be directed towards expediting exploration drilling and mine development at the CSA copper mine. 

Like Newmont Corporation (NYSE:NEM), Teck Resources Limited (NYSE:TECK), and Freeport-McMoRan Inc. (NYSE:FCX), Metals Acquisition Limited (NYSE:MTAL) is one of the best copper stocks to buy.  

10. Taseko Mines Limited (NYSE:TGB)

Number of Hedge Fund Holders: 7

Average Upside Potential: 23.33%

Taseko Mines Limited (NYSE:TGB), a Canadian mining company established in 1966 and headquartered in Vancouver, is engaged in the acquisition, development, and operation of mineral properties. The company explores for various minerals including copper, molybdenum, gold, niobium, and silver. Taseko Mines Limited (NYSE:TGB) is one of the best copper stocks. 

On January 16, Taseko Mines Limited (NYSE:TGB) entered into a $50 million royalty sale agreement with Taurus Mining Royalty Fund, involving 1.95% of the gross revenue from copper sales at its Florence copper project in Arizona. The anticipated proceeds, scheduled for receipt in February, will be used to expedite construction activities at the Florence site, which has so far concentrated on site preparations, earthworks, and civil work for the commercial wellfield.

According to Insider Monkey’s fourth quarter database, 7 hedge funds were long Taseko Mines Limited (NYSE:TGB), compared to 5 funds in the prior quarter. Ric Dillon’s Diamond Hill Capital is the largest stakeholder of the company, with 4.60 million shares worth $6.4 million. 

Diamond Hill Capital made the following comment about Taseko Mines Limited (NYSE:TGB) in its Q4 2022 investor letter:

“We have held Canada-based copper miner Taseko Mines Limited (NYSE:TGB) for its attractive positioning as one of the only small copper miners operating in the US. The combination of low inventories relative to historical levels and still-low copper prices allows Taseko to capitalize on rising copper prices —as they did in Q4. The public comment period for Taseko’s second active mine in Florence, Arizona, also ended successfully in October, and the business capped off the year by announcing an attractive development partnership for Florence, bringing clarity for investors.”

9. Ero Copper Corp. (NYSE:ERO)

Number of Hedge Fund Holders: 10

Average Upside Potential: 9.59%

Ero Copper Corp. (NYSE:ERO) ranks 9th on our list of the best copper stocks. Ero Copper Corp. (NYSE:ERO), based in Vancouver, Canada, is involved in exploring, developing, and producing mining projects in Brazil. The company primarily focuses on the production and sale of copper concentrate, along with gold and silver by-products. 

On November 6, 2023, Ero Copper Corp. (NYSE:ERO) disclosed a deal where underwriters committed to purchasing 8.51 million common shares at $12.35 per share, resulting in gross proceeds of $105 million. Additionally, the underwriters have an option to acquire up to 15% more of the offering. Ero Copper Corp. (NYSE:ERO) intends to utilize the funds to advance growth initiatives at its Tucuma project and Caraíba operations, support regional exploration programs, and cover general corporate and working capital needs. The company anticipates that the Tucuma project in Brazil will contribute 326,000 metric tons of recovered copper over an initial mine life of 12 years, while its Caraíba operations produced 46,371 metric tons of copper concentrate in 2022.

According to Insider Monkey’s fourth quarter database, 10 hedge funds were bullish on Ero Copper Corp. (NYSE:ERO), compared to 7 funds in the last quarter. Thomas E. Claugus’ GMT Capital is the largest stakeholder of the company, with 7.75 million shares worth over $123 million. 

8. Ivanhoe Electric Inc. (NYSE:IE)

Number of Hedge Fund Holders: 15

Average Upside Potential: 95.57%

Ivanhoe Electric Inc. (NYSE:IE) is a Canadian company based in Vancouver. The company specializes in the exploration and development of metals and minerals, with a focus on copper and gold. It offers the Typhoon data acquisition system, a geophysical system known for providing primary signals in its exploration activities. Ivanhoe Electric Inc. (NYSE:IE) is one of the best copper stocks to buy. 

On October 17, 2023, J.P. Morgan assigned an Overweight rating and a price target of $24 to Ivanhoe Electric Inc. (NYSE:IE). JPM stated that Ivanhoe Electric's valuable Santa Cruz asset, combined with its exclusive exploration technologies, offers a potential pathway to copper production by the end of this decade.

According to Insider Monkey’s fourth quarter database, 15 hedge funds were bullish on Ivanhoe Electric Inc. (NYSE:IE), compared to 12 funds in the prior quarter. 

7. Hudbay Minerals Inc. (NYSE:HBM)

Number of Hedge Fund Holders: 26

Average Upside Potential: 27.14%

Hudbay Minerals Inc. (NYSE:HBM), a diversified mining company based in Toronto, Canada, focuses on exploring, developing, operating, and optimizing properties in North and South America. The company produces copper concentrates containing copper, gold, and silver, as well as zinc concentrates, zinc metal, gold and silver doré, and molybdenum concentrates. It is one of the best copper stocks to invest in. 

On February 23, Hudbay Minerals Inc. (NYSE:HBM) reported a Q4 non-GAAP EPS of $0.20 and a revenue of $602.2 million, outperforming Wall Street estimates by $0.08 and $57.63 million, respectively. In the fourth quarter of 2023, there was robust consolidated copper production of 45,450 tonnes and record-setting consolidated gold production reaching 112,776 ounces. This performance was driven by sustained elevated grades at the Pampacancha deposit in Peru, the Lalor mine in Manitoba, and the added contributions from the recently acquired Copper Mountain mine in British Columbia.

According to Insider Monkey’s fourth quarter database, 26 hedge funds were long Hudbay Minerals Inc. (NYSE:HBM), compared to 29 funds in the earlier quarter. GMT Capital is the biggest stakeholder of the company, with 42 million shares worth $232.6 million. 

6. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 34

Average Upside Potential: 20.49%

Rio Tinto Group (NYSE:RIO) is engaged in the exploration, mining, and processing of mineral resources. It operates through Iron Ore, Aluminium, Copper, and Minerals segments. On February 21, Rio Tinto Group (NYSE:RIO) declared a $2.58 per share final dividend, bringing the total annual dividend to $4.35 per share. The dividend is payable on April 18, to shareholders on record as of March 8. 

According to Insider Monkey’s fourth quarter database, 34 hedge funds were bullish on Rio Tinto Group (NYSE:RIO), compared to 27 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the leading stakeholder of the company, with 16 million shares worth $1.19 billion. 

In addition to Newmont Corporation (NYSE:NEM), Teck Resources Limited (NYSE:TECK), and Freeport-McMoRan Inc. (NYSE:FCX), Rio Tinto Group (NYSE:RIO) is one of the best copper stocks, ranking 6th on our list. 

HL International Equity Strategy made the following comment about Rio Tinto Group (NYSE:RIO) in its first quarter 2023 investor letter:

“In terms of geographical performance, the eurozone emerged as the top-performing region, and our stocks did better still, fueled by the strong performance of Infineon, L’Oréal, and Schneider Electric. EMs, which lagged the index, were boosted by the improving outlook for semiconductor companies TSMC and Samsung. Mexico’s FEMSA also contributed strongly to relative returns. Europe ex EMU was the weakest region primarily due to the underperformance of SE Banken and UK miner Rio Tinto Group (NYSE:RIO). The latter was affected by concerns over softer iron ore pricing in the current year, another reflection of manufacturing weakness in steelmaking giant China.”

 

Click to continue reading and see 5 Best Copper Stocks To Invest In According To Analysts. 

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Disclosure: None. 11 Best Copper Stocks To Invest In According To Analysts is originally published on Insider Monkey.