Base Metals Archives - Page 15 of 97

(Bloomberg) — The world’s top miners BHP Group and Rio Tinto Group will join BlueScope Steel Ltd. to build Australia’s largest electric iron-making furnace, a move they say may speed the decarbonization of steel production.

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The pilot project at Kwinana near Perth will produce 30,000 to 40,000 tons of molten iron a year and will initially use natural gas and hydrogen supplied by new consortium partner Woodside Energy Group Ltd. to reduce iron ore to direct reduced iron (DRI), according to a joint statement from the companies.

Once operational, the project aims to use hydrogen to generate the power. The technology could reduce emissions by up to 80% if renewables and green hydrogen are used, the companies said in the statement.

The project may help show iron ore sourced from the Pilbara region of Australia can be smeltered using an electric furnace replacing traditional blast furnaces which are powered by coal, the companies said. More than 70% of steel is currently produced using coal.

The venture was first announced in February without a location for the plant. Studies into the project will begin next year with a view to commission the facility in 2028. No financial details were disclosed.

BHP, Rio and Fortescue Metals Group Ltd. supply almost 60% of the world’s seaborne iron ore from the Pilbara. Still, the lower grades from the region pose a challenge in producing DRI — a material made by removing oxygen from ore.

The steel industry was responsible for around 10.5% of global carbon dioxide emissions in 2021, according to BloombergNEF. If the deployment is successful, it could pave the way for use in steel mills globally, including those in China.

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Rio Tinto RIO has joined forces with BHP Group BHP and BlueScope to develop Australia’s largest ironmaking electric smelting furnace (ESF) pilot plant in Western Australia. The BHP-RIO alliance will work on processing iron sourced from Pilbara using an electric furnace replacing traditional blast furnaces.

This could lead the way in decarbonizing the steelmaking process, which is the need of the hour considering that steel production accounts for around 8% of the world’s carbon emissions.

Details of RIO & BHP’s Groundbreaking Project

RIO, BHP and Bluescope, Australia's largest steelmaker, formed the NeoSmelt collaboration in February. This combined BHP and Rio Tinto’s knowledge of Pilbara iron ore with BlueScope’s unique operating experience in ESF technology. BlueScope is the operator of the world’s only ESF processing direct reduced iron (DRI) in New Zealand.

Woodside Energy will also join as an equal equity participant and energy supplier, subject to the finalization of commercial arrangements.

The NeoSmelt pilot plant will test and optimize production of iron from the ESF. The ESF is capable of producing iron suitable for the basic oxygen steelmaking process. Iron ore is first converted to DRI before being charged into the ESF. The DRI-ESF equipment can replace the traditional blast furnace. This can help in reductions of up to 80% in CO2 emission intensity compared with the conventional blast furnace steel route.The pilot plant would produce molten iron in the range of 30,000-40,000 tons a year. It will initially use natural gas to reduce iron ore to DRI. Once operational, the project aims to use lower-carbon emissions hydrogen for the process. The Western Australian Government will make A$75 million contribution to the project.

Subject to funding, the project expects to start feasibility studies in the second quarter of 2025. The final investment decision for the pilot plant is expected in 2026, with operations anticipated to start in 2028.

Efforts by RIO & Other Industry Players to Lower Emissions

Steelmaking is responsible for around 8% of the world’s carbon emissions. Most of these emissions are created during the industrial process of transforming the raw material, iron ore, into steel. Miners, through individual research and partnerships, are working on developing technologies and solutions to reduce the greenhouse gas (GHG) emission intensity of the steelmaking process.

Steelmaking accounted for 69% of Rio Tinto’s Scope 3 emissions in 2023. It has targeted reductions in Scope 1 and 2 carbon emissions of 15% by 2025 and 50% by 2030, relative to 2018 levels. The company expects to achieve net zero emissions from its operations by 2050.

In 2023, RIO achieved a 6% reduction in Scope 1 and 2 GHG emissions, which was below its 2018 baseline. The company has budgeted a total capital spending of $5-$6 billion over the 2022-2030 period, including $1.5 billion cumulative spending over the 2024-2026 period.

Fortescue Ltd FSUGY remains committed to eliminating fossil fuels with a target to achieve Real Zero terrestrial emissions (Scope 1 and 2) by 2030. The company targets to achieve Net Zero Scope 3 emissions by 2040. The steelmaking process is the largest source of its Scope 3 emissions, accounting for 97% of Fortescue’s Scope 3 emissions.

In September 2022, the company committed $6.2 billion to decarbonize Pilbara operations. Fortescue’s fiscal 2025 projected capital guidance for decarbonization is $700 – $900 million.

BHP Group is also pursuing its long-term goal of net zero Scope 3 GHG emissions by 2050. The company expects to cut down operational GHG emissions by at least 30% from 2020 levels by 2030.

BHP aims to support the development of steel production technology capable of 30% lower emission intensity compared with conventional blast furnace steelmaking. In fiscal 2024, BHP lowered Scope 1 and 2 emissions by 32% compared with the fiscal 2020 baseline. From this decade to fiscal 2030, BHP expects to spend around $4 billion on operational decarbonization.

VALE S.A. VALE plans to invest at least $2 billion to reduce its direct and indirect carbon emissions (Scope 1 and 2) by 33% by 2030 compared with its emissions in 2017. It will also help reduce its suppliers’ emissions (Scope 3) by 15% by 2035 compared with the emission level in 2018. Vale aims to become carbon neutral by 2050.

RIO Stock Price Performance & Zacks Rank

In the past year, shares of Rio Tinto have lost 17.7% compared with the iron mining industry’s 18.3% decline.

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Rio Tinto currently carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company") is pleased to announce that is has closed the first tranche of the non-brokered private placement previously announced on November 21, 2024 (the "Offering"), through the issuance of 4,657,692 non-flow-through units (the "NFT Units") at a purchase price of $0.13 per NFT Unit (the "NFT Offering Price") and 687,500 flow-through shares ("FT Shares") at a purchase price of $0.16 per FT Share (the "FT Offering Price"), for total aggregate proceeds of $715,500 (the "First Tranche"). All dollar amounts in this news release are in Canadian funds.

As previously described, the Company anticipates that, upon the closing of additional tranches, the Offering will consist of a combination of NFT Units at the NFT Offering Price, and FT Shares at the FT Offering Price.

Each NFT Unit will consist of one non-flow-through common share of the Company and one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company for an exercise price of $0.18 per share for a period of 36 months from its date of issuance.

Each FT Share will consist of one flow-through common share of the Company.

The Company will use the proceeds of the sale of FT Shares in the Offering to fund programs to advance one or more of the Company's properties located in the Yukon, Northwest Territories, and Nunavut that will qualify, once renounced, as "flow-through mining expenditures", as that term is defined in the Income Tax Act (Canada). The Company intends to use the net proceeds of the sale of the NFT Units to fund programs to advance one or more of the Company's properties and for general and administrative purposes.

In connection with the First Tranche, the Company paid aggregate cash finder's fees of $7,250 and issued 51,875 non-transferable finder's warrants to certain arm's length finders. Each finder's warrant is exercisable to acquire one common share in the capital of the Company at a price of C$0.18 per share for a period of 36 months from its date of issuance.

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. Additional finder's fees may be payable in connection with the Offering.

Insider Participation

Chad Williams, Non-Executive Chairman and Director of the Company participated in the First Tranche of the Offering by subscribing for 2,307,692 NFT Units, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of Mr. Williams in the Offering in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Offering, with Mr. Williams declaring and abstaining from voting on the resolutions approving the Offering with respect to his participation in the Offering. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

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 (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) 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). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

(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."

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for Investor Relations | spekar@honeybadgersilver.com | +1 (647) 498-8244.

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.

Teck Resources TECK has entered into an option and joint venture agreement with Grid Metals Corp. to explore and develop the Mawka nickel project in southeastern Manitoba, Canada. Per the deal, TECK has the option to acquire up to 70% interest in the project in two stages.

For this, Teck Resources will have to make a total cash payment of CAD$1.6 million ($1.12 million) and fund a total of CAD$15.7 million ($11.02 million) in expenditures. This will be made in different stages by TECK through 2025-2031.

TECK-Grid to Explore Nickel, Copper & Other Metals at Makwa

The focus of the TECK & Grid Metals agreement will be the discovery of a Tier 1 magmatic nickel-copper-PGM-cobalt deposit at Makwa. The agreement is subject to approval by the TSX Venture Exchange.

The Makwa project is one of two copper-nickel-PGM properties owned by Grid Metals. The project boasts excellent infrastructure, including year-round road access, local hydro-electric power and proximity to major rail and trucking routes.

The Makwa project includes two past-producing nickel sulfide mines, three pit-constrained nickel sulfide resources and numerous high-grade nickel and copper-rich magmatic sulfide surface showings.

Details of the Deal Between Teck Resources & Grid Metals

Per Grid Metals’ latest report, the open pit resources at Makwa comprised 14.2 million tons in the indicated category with 0.48% nickel, 0.11% copper, 0.02% cobalt, 0.37 gram per ton of palladium (Pt) and 0.10 gram per Pt. This translates to 0.75% nickel equivalent.

The First Option can be exercised by TECK over four years till May 31, 2028. Teck Resources will have to make a firm commitment of CAD$0.4 million (or minimum cash payment) on or before Jan. 31, 2025. Thereafter it will have to make cash payments of CAD$0.1 million by Jan. 31, 2026, and another CAD$0.1 million by Jan. 31, 2027. In addition, TECK will incur an aggregate of CAD$5.7 million in exploration expenditures over the 2025-2028 period.

Upon the completion of these payments, the company will own 51% of the Makwa project and Grid Metals the remaining 49%. After this, Teck Resources can exercise the second option to raise its stake by 19% in the project. This can be made by incurring CAD$10 million in exploration expenditures over a period of three years (ending May 31, 2031). Teck Resources will have to make a payment of $1 million in cash or by the subscription for Grid shares priced at a 25% premium.

TECK Stock’s Price Performance

The company’s shares have gained 6.5% in the past year against the industry’s 15.4% decline.

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TECK’s Zacks Rank & Stocks to Consider

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

Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, DuPont de Nemours, Inc. DD and Axalta Coating Systems AXTA.

CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.1%. The consensus estimate for the company’s current fiscal-year earnings is pegged at $6.74 per share, indicating a year-over-year rise of 42%. Its shares have surged 167% in the past year. Carpenter Technology 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 DD’s current-year earnings is pegged at $3.88 per share, indicating a year-over-year rise of 11.5%. DD, which currently carries a Zacks Rank #2 (Buy), beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 12.9%. The company's shares have gained 13.9% in the past year.

Axalta Coating Systems has an average trailing four-quarter earnings surprise of 11.86%. The Zacks Consensus Estimate for AXTA’s 2024 earnings is pegged at $2.15 per share. The estimate indicates year-over-year growth of 37%. AXTA’s shares have gained 13.9% in the last year. AXTA currently carries a Zacks Rank of 2.

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Written by Amy Legate-Wolfe at The Motley Fool Canada

Investing $15,000 in a dividend stock is like planting a financial seed that grows in two delightful ways. Steady, passive income through dividends and the potential for long-term appreciation as the stock’s value increases. Dividend stocks can be a cornerstone of a robust investment strategy, especially when chosen wisely. By investing in a dividend-paying stock, you’re essentially aligning yourself with a company’s financial success, thus earning a slice of its profits while it continues to expand. So, let’s look at one stock that can give you a big piece.

Lundin stock

Lundin Mining (TSX:LUN) stands out as a compelling option right now for dividend-focused investors. This mining giant, specializing in copper and other base metals, is not just about digging up resources. It’s about delivering value to its shareholders. Lundin stock currently offers a dividend yield of approximately 2.62%, equating to $0.36 annually per share, paid out quarterly.

The dividend stock’s third-quarter 2024 earnings reflect its financial strength and operational efficiency. Lundin Mining reported revenue of $1.07 billion, an impressive 8.14% increase year over year. This growth was driven by strong production numbers, particularly from its Candelaria mine, which churned out 50,000 tonnes of copper during the quarter. Copper remains in high demand due to its critical role in renewable energy, electric vehicles, and infrastructure projects. As copper prices show resilience, Lundin is well-positioned to benefit.

A key highlight of Lundin Mining’s strategy is its recent acquisition spree. The dividend stock now owns a 70% stake in the Caserones copper-molybdenum mine in Chile, which significantly boosts its production capacity. Additionally, Lundin’s joint acquisition of Filo with mining giant BHP underscores its commitment to growth and its ability to forge strategic partnerships. These moves are not just about expanding operations. They’re about ensuring long-term revenue streams and enhancing shareholder value.

More to consider

Looking ahead, Lundin Mining’s future outlook is equally promising. The dividend stock invested heavily in diversifying its asset portfolio and bolstering production capabilities. With the Caserones mine adding significant copper output and the potential synergies from its partnership with BHP, Lundin is well-equipped to capitalize on the growing demand for base metals. Moreover, its financial prudence is evident from its operating cash flow of $1.2 billion over the trailing 12 months. This provides a cushion for further investments and consistent dividend payouts.

For dividend-focused investors, Lundin’s payout policy is particularly noteworthy. With a payout ratio of 75.8%, the company demonstrates a commitment to rewarding shareholders while retaining sufficient earnings for reinvestment. The five-year average dividend yield of 3.03% further reflects its consistency in delivering returns. For an investor putting in $15,000, the annual dividend income could be a meaningful addition to their passive-income stream, especially when compounded over time. In fact, should shares rise by the same amount in the last year, here is how much investors could earn in returns and dividends.

COMPANY	RECENT PRICE	NUMBER OF SHARES	DIVIDEND	TOTAL PAYOUT	FREQUENCY	INVESTMENT
LUN – now	$13.30	1,128	$0.36	$406.08	quarterly	$15,000
LUN – 35%	$18	1,128	$0.36	$406.08	quarterly	$20,304

Bottom line

Investing $15,000 in Lundin Mining Corporation offers more than just a financial return. However, that alone could get you $5,304 in returns and $406.08 in dividends for annual returns of $5,710.08. It’s an opportunity to partner with a company that is shaping the future of essential industries. The steady income from dividends, backed by a strong operational and strategic foundation, makes Lundin a great option for passive-income seekers. While no investment is without risk, Lundin Mining’s blend of stability, growth potential, and income generation positions it as a smart choice in today’s market.

The post Invest $15,000 in This Dividend Stock, Create $5,710.08 in Passive Income appeared first on The Motley Fool Canada.

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A settlement for a deadly tailings dam collapse at its Samarco joint venture with Vale SA has removed the main barrier to invest in the South American nation, said Emir Calluf, BHP’s new Brazil president.

“BHP is determined to have a brand in Brazil, not just be a shadow of Samarco,” Calluf said in an interview, adding that the nation’s mineral potential is underexploited compared to countries such as Australia, Canada and Chile. “Brazil has only 4% of its mineral potential explored. It has plenty of opportunity and we’re going to look at it.”

Calluf, who was named to the new role earlier this month, said BHP continues to be committed to Samarco, whose high-grade iron ore pellets are a key product for steel mills looking to produce material with lower emissions. He said the company has no plans to dispose of its 50% stake in the joint venture.

“BHP won’t sell it,” he said. “We’re looking at Brazil with fresh eyes and Samarco is important.”

BHP still faces one of the largest class-action lawsuits in the UK for the dam collapse, but the settlement signed in October “made peace with Brazilian society,” said Calluf, who took part in the negotiations as legal vice-president for Americas.

The new Brazil leader said he’s following BHP’s global directive to expand in core areas that include copper and iron ore as well as coal and potash. Such a strategy has led BHP to pursue acquisitions, including last year’s takeover of OZ Minerals Ltd., this year’s failed attempt to buy Anglo American Plc and a joint bid with Lundin Mining Corp. to buy Filo Corp. in July.

BHP and Vale may cross paths again in Brazil. BHP is assessing the future of copper mines inherited from OZ Minerals in northern Brazil’s Carajás region, next to Vale operations. Vale acquired a stake at Anglo American’s Minas-Rio, an iron ore plant that could end up with BHP if the company decides to pursue another Anglo buyout attempt.

Calluf doesn’t rule out finding partners to develop assets, such as what BHP is doing with Lundin in Argentina with the Filo acquisition. BHP also has mining rights in Brazil and retains some mineral research activity in iron ore areas in the country’s southeast state of Minas Gerais, according to documents from Brazil’s mining regulator.

–With assistance from James Attwood.

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We recently compiled a list of the 8 Best Copper Stocks To Buy According to Hedge Funds. In this article, we are going to take a look at where BHP Group Limited (NYSE:BHP) stands against the other copper stocks.

Overview of the Copper Supply and Demand

Copper is recognized as a critical metal due to its extensive applications, particularly in electrical wiring and renewable energy infrastructure. Prices of copper reached a record high during the first half of 2024, selling at $5.11 per pound on May 21, 2024. However, the price dropped slightly during the third quarter but remained elevated to its historic rates from the past two years.

At the start of Q3, copper was priced at $4.42 per pound. It peaked at $4.65 on July 5 but then declined to a low of $3.95 by August 7. The third quarter ended with prices recovering to $4.50 on September 30.

There are several factors affecting the prices of copper. Firstly, the demand for this metal remains high, largely driven by sectors related to the energy transition, including renewable energy and electric vehicles (EVs). However, this demand coincides with a slowdown in the Chinese real estate sector, which is traditionally a major consumer of refined copper. Regardless of the challenges in the real estate market in China, the global demand for copper saw a slight increase of 2.5% in the first half of 2024. The growth was driven by notable demand from China of around 2.7% while other regions also witnessed demand growth of around 2%.

However, despite high consumption, the supply side outpaced the demand. According to a report by the International Copper Study Group (ICSG), there was a surplus of 535,000 metric tons (MT) through the first eight months of 2024. The global copper mine production remained elevated, increasing by 2% to reach 14.86 million MT from January to August 2024. Chile’s Escondida and Collahuasi mines remained key contributors while operations in the Democratic Republic of Congo and Indonesia reported 11% and 22% production growth, respectively. In addition to raw copper refined metal production also witnessed a 5% increase driven by expansion in China and the launching of new facilities in the Democratic Republic of Congo.

According to a report by Investing News Network, analysts believe that the primary reason behind higher prices during the first half of 2024 was not the fundamental supply-demand play, but was led by speculative investment. Analysts back this sentiment on the assumption that market participants would have taken a cautious approach following substantial gains in Q2 resulting in fluctuating prices of copper.

Looking ahead, the ongoing struggles in China’s real estate sector have dampened overall demand for copper. The government's efforts to stimulate the market through various initiatives to boost housing projects are expected to revive global demand further. Moreover, energy transition efforts also continue to fuel demand for copper, the International Energy Forum estimates that approximately 1.1 new mines will need to come online annually until 2050 just to maintain current demand levels.

Our Methodology

To compile the list of the 8 best copper stocks to buy according to hedge funds, we used the Finviz stock screener and our previous articles. Using the two sources we curated an aggregated list of copper stocks sorted by market capitalization. Next, we ranked these companies based on the number of hedge fund holders as of Q3 2024, sourced from Insider Monkey’s database. The list is ranked in ascending order of the number of hedge funds.

Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

An aerial view of a mining operation in action, with large trucks and yellow diggers.

BHP Group Limited (NYSE:BHP)

Number of Hedge Fund Holders: 22

BHP Group Limited (NYSE:BHP) is a major Australian resources company that specializes in mining and producing various essential commodities. The company operates through three main segments including Copper, Iron Ore, and Coal. The materials extracted by the company are used in key industries including steel for construction, copper for renewable energy technologies, nickel for batteries, and much more. It has a global reach with operations in Australia, the Americas, Europe, and Asia, with significant mining sites such as Olympic Dam and Escondida.

Copper remains one of the key assets of BHP Group Limited (NYSE:BHP). During the fiscal first quarter of 2025, the company produced 476 kilotonnes of copper, which was up 4% year-over-year. Escondida, which is one of the world's largest copper mines remained one of the key contributors to its copper production, its production was up 11% year-over-year, mainly due to a higher concentration of feed grade and improved recoveries.

While copper production is already growing, management has been busy improving its portfolio further. During the quarter, BHP Group Limited (NYSE:BHP) announced a 50/50 joint venture with Lundin Mining in Argentina to advance a major copper discovery, considered to be one of the most significant in decades. Moreover, in Canada, its Jansen Stage 1 potash project is 58% complete, with the first production expected in two years. Looking ahead, management believes that its commodity demand will increase substantially due to the monetary easing in China to stimulate economic growth. It is one of the best copper stocks to buy according to hedge funds.

Overall BHP ranks 7th on our list of the best copper stocks to buy according to hedge funds. While we acknowledge the potential of BHP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BHP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

We recently compiled a list of the 8 Best Copper Stocks To Buy According to Hedge Funds. In this article, we are going to take a look at where Southern Copper Corporation (NYSE:SCCO) stands against the other copper stocks.

Overview of the Copper Supply and Demand

Our Methodology

A large open-pit mining site, its machinery providing a long-term supply of copper.

Southern Copper Corporation (NYSE:SCCO)

Number of Hedge Fund Holders: 25

Southern Copper Corporation (NYSE:SCCO) is a major mining company that primarily focuses on producing copper, along with other valuable metals like molybdenum, silver, and zinc. The company has several mines in Peru and Mexico and also explores new mineral deposits in countries like Argentina, Chile, and Ecuador. In addition to mining, it also uses raw materials through smelting and refining to produce pure metals. This includes turning copper concentrates into refined copper products.

Southern Copper Corporation (NYSE:SCCO) is closely tied to the dynamics of the copper market and currently, the market conditions look favorable. As per the company’s third-quarter results for fiscal 2024, the international copper prices have increased by 10% from $3.79 per pound in Q3 2023 to $4.17 in the last quarter. Due to the changing supply and demand dynamics, management is expecting a slight market surplus of about 100,000 tons of copper for 2024. On the demand side, although China, the largest consumer of copper, remains weak at the moment, management believes that the recently announced economic measures will promote economic growth and fuel demand for copper products.

During the third quarter, copper represented 77% of the company’s total sales. The company grew its copper production by 11% on a quarter-on-quarter basis to reach 252,219 tons. Its Peru production site remains one of the key contributors as it grew production by 18% during the same time, driven by higher mineral throughput at Cuajone and higher ore grades and recoveries at Toquepala. Management expects to produce 7% more copper in 2024 as compared to the previous year by reaching 975,000 tons of copper by the end of the year. It is one of the best copper stocks to buy according to hedge funds.

Overall SCCO ranks 6th on our list of the best copper stocks to buy according to hedge funds. While we acknowledge the potential of SCCO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SCCO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

We recently compiled a list of the 8 Best Copper Stocks To Buy According to Hedge Funds. In this article, we are going to take a look at where Teck Resources Limited (NYSE:TECK) stands against the other copper stocks.

Overview of the Copper Supply and Demand

Our Methodology

A close up of an automated machine processing other Industrial Metals & Mining resources.

Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 68

Teck Resources Limited (NYSE:TECK) is a Canadian company that focuses on mining and producing essential metals, primarily copper and zinc. The company operates several mines across North and South America, including Antamina, Highland Valley Copper, Red Dog Mine, and Carmen de Andacollo.

Management recently transformed its business strategy to concentrate on energy transition metals, which are essential for the shift towards renewable energy and electric vehicles (EVs). This change was marked by the sale of its steelmaking coal business to Glencore for $7.3 billion, completed on July 11, 2024. This divestment allows Teck Resources Limited (NYSE:TECK) to focus primarily on its copper and zinc operations, which are crucial for supporting low-carbon technologies.

In addition, the company has been making significant progress towards its copper growth strategy. During the third quarter of fiscal 2024, Teck Resources Limited (NYSE:TECK) delivered an adjusted EBITDA of $986 million driven by record copper production at its Quebrada Blanca (QB) mine. The mine produced 52,500 tonnes of copper in Q3 2024, which is an increase from 51,300 tonnes in Q2 2024. Moreover, the mill throughput rates also increased, confirming that the plant's design is robust. Management anticipates reaching the design throughput rates by the end of 2024, which would enhance overall production efficiency. Looking ahead, management has updated its guidance for QB mine copper production to a range of 240,000 to 280,000 tonnes, along with molybdenum production expected between 4.0 to 5.5 thousand tonnes. It is one of the best copper stocks to buy according to hedge funds.

Greenlight Capital stated the following regarding Teck Resources Limited (NYSE:TECK) in its first quarter 2024 investor letter:

“Finally, we established a medium-sized macro position to benefit from higher copper prices. Long-time partners may recall that in 2021 we presented Teck Resources Limited (NYSE:TECK) at the Sohn Investment Conference. At the time, our thesis was based on a combination of being bullish on copper and believing that TECK was about to exit the penalty box after a multi-year investment in a new copper mine that was on the brink of finally coming online. Back then, TECK traded at C$31.09. Based on copper at $4.50 a pound, we thought the stock was undervalued by half. It has since doubled (and dramatically outperformed copper peer Freeport-McMoRan) and, over time, we have reduced the position into strength.

As we showed on this slide from our 2021 presentation, our thesis was that after several new mines, including TECK’s, there would not be new supply available in the second half of this decade.

Time has passed, the new mines have come online and the anticipated gap between supply and demand is likely to open up in the next year. While we still believe TECK is undervalued should copper prices rise, it is less undervalued than it once was. Our thesis now is that copper supply is about to fall short of demand, forcing prices substantially higher. Once again, we think the best way to invest in that thesis is the most direct way – in this case through options on copper futures.”

Overall TECK ranks 2nd on our list of the best copper stocks to buy according to hedge funds. While we acknowledge the potential of TECK as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TECK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Disclosure: None. This article is originally published at Insider Monkey.

Investing.com — Morgan Stanley expects elevated volatility in the mining sector through 2025, particularly in the first half, citing global growth headwinds and uncertain economic policies in China and the U.S.

The brokerage downgraded Vale SA ADR (NYSE:VALE) to "equal weight," noting the iron ore miner's underperformance relative to peers despite recent positive catalysts, such as a new CEO and agreements addressing legacy issues. Iron ore supply surpluses and uncertain pricing are expected to weigh on the stock in the near term.

Morgan Stanley (NYSE:MS) upgraded Southern Copper Corporation (NYSE:SCCO) and Nexa Resources SA (NYSE:NEXA) to "equal weight," citing tighter supply forecasts for base metals like copper and zinc.

A near 12% pullback in Southern Copper's stock from its recent peak has improved its risk-reward balance, despite ongoing political concerns in Mexico.

The firm continues to favor base metal equities over iron ore stocks, pointing to supply deficits in copper, aluminum, and zinc, as well as potential catalysts such as aluminum producer Alcoa (NYSE:AA), which Morgan Stanley named its "top pick" for self-help initiatives and upside to consensus estimates.

Morgan Stanley sees volatility in mining sector, adjusts ratings

Producers of Netflix hit 'Love is Blind' accused of US labor law violations

Intel executives say manufacturing spinoff is possible

By Melanie Burton

MELBOURNE (Reuters) – BHP and Rio Tinto have used confidentiality agreements to prevent female employees from speaking about sexual harassment at work, according to a lawyer leading Australian class action lawsuits against the miners.

Brisbane-based law firm JGA Saddler filed a class action against each mining giant this week, alleging widespread and systemic sexual harassment and discrimination at Australian mine sites.

The class actions promise more headaches for the two firms, which have struggled to rebuild their public image. A 2022 Western Australia state government review of remote mining sites found women frequently dealt with sexual harassment and sexual assault. The industry has also been held to account for the destruction of Aboriginal heritage, mine fatalities and environmental disasters in recent years.

JGA Saddler has spoken to hundreds of women and seen evidence of the widespread use of non-disclosure agreements by the mining industry, lead litigator Josh Aylward told Reuters in an interview, adding some have expressed concern that the NDAs could prevent them from joining the class actions.

BHP and Rio said they do not currently use NDAs when dealing with sexual harassment allegations.

Mining companies have pressured vulnerable workers to sign agreements because they feared losing their jobs or being blacklisted from the industry, Aylward alleged.

"It's common practice," he said. "There's a lot of other industries that have matured past the use of NDAs and realised that you have to front up for earlier sins, and if people want to talk about what happened to them, then they should be able to do it."

Rio said in a statement to Reuters it would not enforce any historic confidentiality terms that prevented employees from discussing their personal experiences.

A representative for BHP referred Reuters to the company's annual report, where it said it had stopped using NDAs relating to sexual harassment claims in March 2019 and doesn't enforce past agreements.

Both companies also say they take all allegations of sexual harassment seriously and are seeking to stamp it out in the industry.

Angela Green, who worked in BHP's explosives team from 2018-2024, said in a statement she plans to join the class action. She said she was unfairly terminated for falsifying a log book, which she denies, after she had made a complaint about sexual harassment.

Green alleges she was subsequently offered compensation from BHP for the manner of her dismissal on condition she signed an agreement with a confidentiality clause.

"BHP state office said if I signed it then they would clear my record and change it to say I resigned instead of being terminated," she said.

The court filings have yet to be made public. According to a statement from JGA Saddler, the lead applicant in the BHP case alleges she was urinated on by a male co-worker, sexually harassed over a two-way radio and had another male co-worker defecate in front of her.

The lead applicant in the Rio suit alleges she was sent unsolicited sexually explicit messages as well as videos and pictures from a colleague showing him masturbating in his on-site room. After her complaint, she was overlooked for opportunities to upskill, she said in the statement.

JGA Saddler has requested the court redact the lead applicants' names in the filings amid concerns for their personal safety.

The lawsuits were filed at the Federal Court and a judge will be assigned shortly. The judge will then set out times and dates in a hearing, expected to be in February. At that time, the court will order both miners to contact all women who have worked for them since November 2003.

According to its annual report, BHP received 471 reports of sexual harassment in the 2024 financial year across its global operations. It investigated 100 cases and 103 workers were either dismissed, resigned or were removed from site if they were a contractor.

Rio said last month that cases of rape and sexual assault at its mines persisted. An investigation found eight instances of actual or attempted sexual assault.

(Reporting by Melanie Burton; Editing by Edwina Gibbs)

By Daina Beth Solomon

BUENOS AIRES (Reuters) – The head of global mining group Rio Tinto pledged to act if wrongdoing was discovered following the filing of sexual harassment lawsuits against the company.

Brisbane-based law firm JGA Saddler this week filed a class action against Rio and BHP Group, alleging widespread and systemic sexual harassment and discrimination at Australian mine sites.

The lawyers allege both companies have used confidentiality agreements to prevent female employees from speaking about sexual harassment at work.

BHP and Rio said they do not currently use NDAs when dealing with sexual harassment allegations.

Speaking to Reuters, Jakob Stausholm, the chief executive of Rio Tinto, pledged to respond to wrongdoing.

"If something that is not okay is happening, it's unacceptable. And we'll do everything to avoid that," Stausholm said in an interview on Thursday.

"I was devastated when I read the news the other morning," he told Reuters.

BHP issued a statement on Wednesday saying it apologised to anyone who has ever experienced any form of harassment at the company.

The lawsuit was filed after Rio last month released an external report showing cases of rape and sexual assault persist at its mines.

The report was an update to its cultural assessment conducted in early 2022 that outlined a culture of bullying, harassment and racism across its operations.

Rio has implemented a series of changes to improve workers' conditions but has said there is more work to do.

(Reporting by Daina Beth Solomon, additional reporting by Clara Denina; Editing by David Alire Garcia and Keith Weir)

Written by Amy Legate-Wolfe at The Motley Fool Canada

Let’s say that you’ve gotten a windfall of $15,000 and want to put it into your Tax-Free Savings Account (TFSA). It’s a smart move! Investing in a growth dividend stock like Teck Resources (TSX:TECK.B) can be one of the smartest ways to supercharge it. Why? Because it combines the long-term benefits of capital appreciation with the steady income from dividends, all in a tax-sheltered environment where your earnings can compound without being nibbled away by taxes. This is like having the ultimate savings accelerator. Teck is a stock with strong growth potential that also rewards you along the way.

Why Teck stock?

Teck Resources, a Canadian mining giant, is a standout candidate for this strategy. The company has been transitioning its focus to energy transition metals, particularly copper. Copper is the backbone of renewable energy infrastructure, from electric vehicles to wind turbines, and its demand is expected to skyrocket as the world embraces a greener future.

Recent earnings bolster the case for Teck. In its third-quarter 2024 results, Teck delivered an adjusted profit of $0.60 per share, well above analysts’ expectations of $0.37 per share. This impressive performance was fuelled by a staggering 60% increase in copper production at its Quebrada Blanca 2 (QB2) mine. This represents the company’s commitment to scaling operations in this high-demand sector. Revenue growth year over year was a robust 43.7%, demonstrating the impact of their strategic focus on copper and other critical minerals.

Financially, Teck is in an enviable position. The company boasts $7.23 billion in cash as of its most recent quarter, providing it with significant liquidity to fund growth initiatives or weather any economic turbulence. Meanwhile, its debt-to-equity ratio of 36.29% reflects prudent financial management, giving investors confidence in the company’s stability. With a current ratio of 2.92, Teck also demonstrates an ability to meet short-term obligations comfortably.

Even more for investors

Teck’s shareholder-friendly policies further sweeten the deal. This year alone, the company has returned more than $1.3 billion to shareholders through dividends and share buybacks. The forward annual dividend rate of $0.50 per share represents a yield of approximately 0.79%. While this yield might seem modest compared to some higher-dividend stocks, the real magic lies in combining these payouts with the potential for stock price appreciation.

Looking at past performance, Teck has proven its ability to generate value for investors. Over the past five years, the stock has significantly outperformed the market, driven by its strategic pivot towards high-growth sectors like copper. Its forward price-to-earnings (P/E) ratio of 27.17 suggests that investors are willing to pay a premium for the company’s future earnings potential—a reflection of confidence in its growth trajectory.

From a broader perspective, the renewable energy revolution is not a passing trend. It’s a massive shift that will define global economies for decades. Copper is at the heart of this transformation, and companies like Teck that are well-positioned in this market stand to benefit immensely. With the world moving towards net-zero goals and electrification, Teck’s focus on copper aligns with structural, long-term growth drivers that investors crave.

Foolish takeaway

Placing a stock like Teck in a TFSA allows you to leverage its growth story in the most tax-efficient way possible. Every dollar of dividend income and capital gains stays untouched by the taxman, leaving more of your money to reinvest and grow. Over time, this compounding effect can turn an initial $15,000 investment into a substantial nest egg, driven by the combination of reinvested dividends and stock price appreciation.

Ultimately, investing in a growth dividend stock like Teck Resources can be transformative for your TFSA. Its strategic focus on energy transition metals, solid financial performance, commitment to shareholder returns, and promising future outlook make it a top choice for those looking to grow their wealth. With Teck, you’re not just investing in a company. You’re buying into a vision of a sustainable, electrified future. And that’s a story worth being part of.

The post Transform Your TFSA Into a Cash-Creating Machine With $15,000 appeared first on The Motley Fool Canada.

Should you invest $1,000 in Teck Resources right now?

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Most Read from Bloomberg

Among other accusations, the suits filed in the Federal Court argue that the world’s two largest miners sent female staff to remote sites knowing there was a high risk of personal danger, and then punished them with demotion, dismissal or discrimination when they reported it, the womens’ legal representative JGA Saddler said in a statement.

The class actions are being backed by global litigation funder Omni Bridgeway. Under the Anti-Discrimination Act an employer is liable if they “permit” a woman to work in an environment where they will likely be exposed to sexual harassment and discrimination, JGA Saddler said.

“We have heard reports of everything from unwanted touching and sexual harassment to rape, violence and physical threats,” lawyer Joshua Aylward said in the statement. “These class actions will give a voice to these women, many of whom have been too afraid to speak out for fear of losing their jobs or workplace reprisals.”

The companies issued separate statements after the class actions were filed. BHP said “we deeply regret and apologize unreservedly to anyone who has ever experienced any form of harassment,” adding it had invested $500 million to improve safety and security of accommodation villages. Rio said it was treating the allegations with “the utmost seriousness”.

A report released last month by Rio showed 39% of workers surveyed by the world’s second-biggest miner had experienced bullying within a 12-month period, up from 31% in 2021.

Two years after Rio pledged to address toxic cultures that were deterring females and non-Whites from the mining industry, details from a survey of more than 10,000 employees laid bare the challenges it still faces. The rates of sexual harassment and racism that respondents reported were unchanged from three years before, affecting 7% of those surveyed from workers in nations including Australia, US, Canada, Mongolia and New Zealand.

Meanwhile, BHP had 417 reports of sexual harassment in the year to June.

Subscribe to The Bloomberg Australia Podcast on Apple, Spotify, on YouTube, or wherever you listen.

In 2022, the government of Western Australia — the nation’s key resources state with massive iron ore and liquefied national gas projects — released its own landmark inquiry. The government report uncovered dozens of shocking cases of alleged sexual harassment and abuse of women workers at companies including Woodside Energy Group Ltd., Fortescue Group, and Chevron Corp.

The industry has seen pressure increasing from investors, governments and society to address its impacts on local communities and the wider environment. A focus has been creating a safer work environment for women and minorities, particularly at remote mining sites where so-called Fly In-Fly Out staff are based for several weeks at a time.

JGA Saddler didn’t say in its statement how many women were currently involved in the class actions. It said women who were subject to harassment or discrimination while working at a BHP or Rio workplace since November 2003 were eligible to participate, and the companies will be legally required to contact all female staff with details on how to join the class actions.

Class actions have existed in Australia for the best part of three decades and are becoming more common in legal regimes outside the US. They allow private individuals to come forward on behalf of a group, usually to demand some form of financial relief.

About 15 class actions are filed in Australia’s Federal Court every year, according to a 2018 government-backed report. It found that between 2004 and 2017, 60% of proceedings were resolved through a judicially approved settlement agreement, 11% were dismissed by the court, and the balance were discontinued before a finding.

–With assistance from Sybilla Gross and Paul-Alain Hunt.

(Updates with comments from companies in fifth paragraph.)

Most Read from Bloomberg Businessweek

AI-focused tech giants are reportedly set to invest over $1 trillion in infrastructure and power grid development, triggering a significant surge in demand for precious metals like copper (HG=F). BHP Group (BHP) CFO Vandita Pant joins Asking for a Trend to discuss this transformative phenomenon.

“The recognition of critical minerals and their intensity to economic growth is increasing,” she tells Yahoo Finance. This trend is “being amplified through [the] energy transition, through AI and data center demand,” which is projected to drive a 70% increase in metals like copper demand over the next three decades, Pant explains.

Pant highlights the United States, China, and India as the primary regions driving this market segment, noting that BHP is strategically positioned to benefit substantially from these emerging technological and infrastructure developments.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Angel Smith

VANCOUVER, BC, Dec. 11, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces that the Toronto Stock Exchange (the "TSX") has accepted the notice of Lundin Mining's intention to renew its normal course issuer bid (the "NCIB"). View PDF

The Company intends to continue to utilize the NCIB at its discretion to make opportunistic purchases to create shareholder value and manage the number of outstanding common shares of the Company (the "Common Shares").

This approval allows the Company to purchase up to 57,597,388 Common Shares, representing 10% of the 776,914,637 issued and outstanding Common Shares as of December 6, 2024, minus those Common Shares beneficially owned, or over which control or direction is exercised by the Company, the senior officers and directors of the Company and every shareholder who owns or exercises control or direction over more than 10% of the outstanding Common Shares, over a period of twelve months commencing on December 16, 2024. The NCIB will expire no later than December 15, 2025.

All purchases made pursuant to the NCIB will be made on the open market through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable securities laws. In accordance with TSX rules, any daily purchases (other than pursuant to a block purchase exemption) on the TSX under the NCIB are limited to a maximum of 560,989 Common Shares, which represents 25% of the average daily trading volume of 2,243,957 Common Shares on the TSX for the six months ended November 30, 2024. The price that Lundin Mining will pay for Common Shares in open market transactions will be the market price at the time of purchase.

In connection with the NCIB renewal, Lundin Mining entered into an automatic share purchase plan ("ASPP") with its designated broker to allow for the repurchase of Common Shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise (any such period being a "Blackout Period"). Before entering a Blackout Period, the Company may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the plan. At this time, the Company has not instructed the broker to actively repurchase Common Shares. Purchases made pursuant to the plan, if any, will be made by the Company's designated broker based upon the parameters prescribed by the TSX, applicable Canadian securities laws and the terms of the written agreement entered between the Company and its designated broker. Outside of these Blackout Periods, Common Shares will be purchasable by Lundin Mining at its discretion under its NCIB.

The ASPP will terminate on the earliest of the date on which: (i) the purchase limit under the NCIB has been reached; (ii) the NCIB expires; and (iii) the ASPP otherwise terminates in accordance with its terms. The ASPP constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and the agreement governing the plan has been pre-cleared by the TSX.

The actual number of Common Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any Common Shares that are purchased under the NCIB will be cancelled.

Under the Company's previous NCIB that commenced on December 11, 2023 and expired on December 10, 2024, the Company sought and received approval from the TSX to purchase up to 52,538,870 Common Shares. The Company purchased nil Common Shares under its previous NCIB through open market transactions.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with projects or operations in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, nickel and gold.

The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on December 11, 2024 at 14:30 Vancouver Time.

Cautionary Statement in Forward-Looking Information

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements with respect to Lundin Mining's proposed NCIB, the Company's pre-defined plan with its broker to allow for the repurchase of Common Shares and the timing, number and price of Common Shares that may be purchased under the NCIB. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management; assumed and future price of copper, zinc, gold, nickel and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the Common Shares will, from time to time, trade below their value; the Company will complete purchases of Common Shares pursuant to the NCIB; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: the market price of the Common Shares being too high to ensure that purchases benefit the Company and its shareholders; and other risks and uncertainties, including but not limited to those described in the "Risks and Uncertainties" section of the Company's MD&A for the three and nine months ended September 30, 2024 and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023, which are available on SEDAR+ at www.sedarplus.ca under the Company's profile.

All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. There can be no assurance that the Common Shares will, from time to time, trade below their value and that the Company will complete purchases of Common Shares pursuant to the NCIB. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Lundin Mining Announces TSX Approval for a Normal Course Issuer Bid (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/11/c6943.html

Key Insights

Significant control over Aurelia Metals by retail investors implies that the general public has more power to influence management and governance-related decisions
The top 25 shareholders own 47% of the company
Insiders own 23% of Aurelia Metals

If you want to know who really controls Aurelia Metals Limited (ASX:AMI), then you'll have to look at the makeup of its share registry. The group holding the most number of shares in the company, around 53% to be precise, is retail investors. Put another way, the group faces the maximum upside potential (or downside risk).

And institutions on the other hand have a 23% ownership in the company. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies.

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

Check out our latest analysis for Aurelia Metals

ASX:AMI Ownership Breakdown December 11th 2024What Does The Institutional Ownership Tell Us About Aurelia Metals?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

As you can see, institutional investors have a fair amount of stake in Aurelia Metals. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. 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 Aurelia Metals' earnings history below. Of course, the future is what really matters.

ASX:AMI Earnings and Revenue Growth December 11th 2024

Aurelia Metals is not owned by hedge funds. Our data shows that Franklyn Brazil is the largest shareholder with 19% of shares outstanding. For context, the second largest shareholder holds about 4.8% of the shares outstanding, followed by an ownership of 3.5% by the third-largest shareholder.

On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of Aurelia Metals

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our information suggests that insiders maintain a significant holding in Aurelia Metals Limited. Insiders own AU$71m worth of shares in the AU$313m company. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling.

General Public Ownership

The general public, who are usually individual investors, hold a substantial 53% stake in Aurelia Metals, suggesting it is a fairly popular stock. This size of ownership gives investors from the general public some collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important.

Many find it useful to take an in depth look at how a company has performed in the past. You can access this detailed graph of past earnings, revenue and cash flow.

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.

Tuesday, December 10, 2024

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Alphabet Inc. (GOOGL), Oracle Corporation (ORCL) and Merck & Co., Inc. (MRK), as well as two micro-cap stocks, Canterbury Park Holding Corporation (CPHC) and CompX International Inc. (CIX). These research reports have been hand-picked from roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>

Alphabet shares have lagged the broader Tech sector this year (+25.3% vs. +33.1%) as well as the S&P 500 index (+25.3% vs. +28.2%), mostly reflecting regulatory uncertainty. The Zacks analyst believes that the company’s Google Cloud Platform products are benefiting from accelerated growth across AI infrastructure, enterprise AI platform Vertex and generative AI solutions. Its dominant position in the search engine market is a strong growth driver. Major search updates and removal of bad ads to enhance the search results continue to boost traffic on Google’s search engine.

However, increasing litigation issues and expenses remain concerns. Rising cloud competition from Microsoft and Amazon is a concern.

(You can read the full research report on Alphabet here >>>)

Oracle shares have outperformed the Zacks Computer – Software industry over the past year (+65.4% vs. +23.4%). The Zacks analyst believes that solid adoption of strategic cloud applications, autonomous database offerings and Oracle Cloud Infrastructure and recovery in cloud revenue growth have been benefiting the company. The recent partnership with Amazon for Oracle Database@AWS and general availability of Oracle Database@Google bodes well.

Yet, higher spending on product enhancements, especially toward the cloud platform amid increasing competition in the cloud domain remain major causes of concern.

(You can read the full research report on Oracle here >>>)

Shares of Merck have underperformed the Zacks Large Cap Pharmaceuticals industry over the past year (-0.5% vs. +12.9%). Per the Zacks analyst, generic competition for several drugs, rising competitive pressure on diabetes franchise and declining Gardasil sales in China may pose challenges for the company. There are concerns about Merck’s ability to grow its non-oncology business ahead of Keytruda’s loss of exclusivity in 2028.

However, Keytruda, and new products have been driving Merck’s sales. Animal health and vaccine products are core growth drivers. Merck boasts a strong cancer pipeline, including Keytruda, which should drive long-term growth.

(You can read the full research report on Merck here >>>)

Canterbury Park’s shares have underperformed the Zacks Gaming industry over the last six months (-4.9% vs. +19.8%). The Zacks analyst believes that weak casino revenues and substantial losses from equity investments have ailed the company. Increased competition also remains a concern. Canterbury Park faces ongoing regulatory hurdles, particularly with the introduction of 500 on-track ADW historical horse racing terminals, which are currently subject to legal challenges and legislative scrutiny.

Yet, Canterbury Park's Canterbury Commons Development offers significant long-term revenue potential through diversified projects like an amphitheater, Winners Circle and residential units, driving growth beyond traditional gaming. Also, the company’s vision of a regional destination is progressing, with leasing success indicating solid demand.

(You can read the full research report on Canterbury Park here >>>)

CompX’s shares have outperformed the Zacks Office Supplies industry over the last six months (+31.8% vs. -11.1%). The Zacks analyst believes that a diversified customer base, strategic inventory management and growth in the company’s Security Products segment, which includes mechanical and electrical cabinet locks has been aiding the company.

Yet, the Marine Components segment has been declining in sales due to reduced towboat demand. Rising raw material costs and and exposure to macroeconomic conditions and competitive pressures in mature markets also pose risks.

(You can read the full research report on CompX here >>>)

Other noteworthy reports we are featuring today include Wells Fargo & Company (WFC), Morgan Stanley (MS) and Southern Copper Corporation (SCCO).Director of ResearchSheraz MianNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Alphabet (GOOGL) Benefits From Cloud & Search Initiatives

Oracle (ORCL) Gains from Cloud Suite Adoption & Partnerships

Keytruda to Remain Merck's (MRK) Key Top-Line Driver

Featured Reports

Kinder Morgan (KMI) Banks on Secured Take-or-Pay ContractsKinder Morgan's resilient business model, backed by take-or-pay contracts, ensures steady earnings. However, reduced project backlog concerns the Zacks analyst.

Expansion Actions to Drive Southern Copper (SCCO), Costs AilThe Zacks analyst believes Southern Copper is poised well to gain from its industry-leading copper reserves and expansion actions. However, higher labor costs will hurt margins.

Pilgrim's Pride's (PPC) Operational Excellence to Fuel SalesPer the Zacks analyst, Pilgrim's Pride's focus on quality, service, and innovation has been enhancing its performance. Net sales of $4,585 million jumped 5.2% year over year in the quarter.

Rising Premiums Aid Molina Healthcare (MOH), High MCR Ratio HurtsPer the Zacks analyst, Molina Healthcare's rising revenues can be attributed to strong premium revenues and solid membership growth. A high medical care ratio remains a concern.

Restructuring Efforts, Acquisitions Aid Morgan Stanley (MS)Per the Zacks analyst, relatively high rates, strategic alliances, global footprint and Morgan Stanley's focus on less capital-markets dependent operations will support its financials, going forward.

Deposit Growth Aid Wells Fargo (WFC), Lower Loan Balance AilPer the Zacks Analyst, Wells Fargo's rising deposit balance will support the company's financials. However, a lower loan balance due to the asset cap will impede growth.

Solid Bookings & Fleet Expansion to Aid Royal Caribbean (RCL)Per the Zacks analyst, Royal Caribbean is likely to benefit from robust booking trends, fleet expansion and digital initiatives. Also, strength in consumer onboard spending bodes well.

New Upgrades

Triumph Group (TGI) Gains on Defense Orders & Air TrafficAs per the Zacks analyst, Triumph Group is likely to benefit from increasing defense order growth from the Pentagon and US allies. Also, improving commercial air traffic should boost its growth.

Strength in Aerospace Unit Boosts Plexus (PLXS) PerformancePer the Zacks analyst, momentum in the Aerospace/Defense sector is propelling Plexus' performance, with new program ramp-ups anticipated to fuel growth across all three divisions in fiscal 2025.

Robust Afirma Sales, LT Growth Drivers Aid Veracyte (VCYT)Per the Zacks analyst, the robust volume growth of Veracyte's Afirma test is backed by its performance evidence and ease of use. Progress with long-term (LT) growth drivers look promising.

New Downgrades

Ironwood's (IRWD) Overdependence on Linzess Poses ConcernPer the Zacks analyst, Ironwood's heavy dependence on its sole marketed drug Linzess for growth is a woe. Also, competition for Linzess in the target market is intensifying, which is an overhang.

Unfavorable Demand, Supply Issue May Hurt Enphase (ENPH)Per the Zacks analyst, unfavorable demand in parts of Europe may continue to hurt Enphase Energy's performance. Supply constraints for semiconductors can also impact the company.

Knight-Swift (KNX) Grapples With Rising Operating ExpensesPer the Zacks Analyst, high costs related to driver wages, equipment, maintenance, fuel and other expenses are increasing Knight-Swift's operating expenses. This is likely to weigh on the bottom line.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Wells Fargo & Company (WFC) : Free Stock Analysis Report

Morgan Stanley (MS) : Free Stock Analysis Report

Merck & Co., Inc. (MRK) : Free Stock Analysis Report

Oracle Corporation (ORCL) : Free Stock Analysis Report

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

Alphabet Inc. (GOOGL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Southern Copper shows rising price performance, earning an upgrade to its IBD Relative Strength Rating.

VANCOUVER, BC, Dec. 10, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce that Lundin Mining's Swedish short-form document prepared in accordance with Article 1.4 da) and Annex IX of Regulation (EU) 2017/1129 (the "Short Form Document") for the proposed offer of new common shares of Lundin Mining (the "Lundin Mining Shares") to holders of Euroclear Sweden AB registered common shares of Filo Corp. ("Filo") in connection with the previously announced arrangement under the Canada Business Corporations Act whereby the Company and BHP Investments Canada Inc. ("BHP" and together with Lundin Mining, the "Purchaser Parties"), a wholly-owned subsidiary of BHP Group Limited will, among other things, acquire all of the issued and outstanding common shares of Filo not already owned by the Purchaser Parties and their respective affiliates (the "Arrangement"), has been filed with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). View PDF

The Short Form Document is available on Lundin Mining's website (www.lundinmining.com).

The completion of the Arrangement and the issuance of the new Lundin Mining Shares to shareholders of Filo remain subject to the satisfaction of customary closing conditions for a transaction of this nature, including, among other things, regulatory approvals and relevant stock exchange approvals. The Arrangement is anticipated to be completed in the first quarter of 2025 (the "Effective Date") subject to the satisfaction or waiver of closing conditions. Trading of the new Lundin Mining Shares on Nasdaq Stockholm is expected to commence as soon as possible following the Arrangement becoming effective on the Effective Date, subject to Nasdaq Stockholm approving the admission to trading of such shares and completion of the Arrangement.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information was submitted for publication, through the agency of the contact persons set out below on December 10, 2024 at 1:00 PM PST.

Cautionary Statement on Forward-Looking Information

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including the Company's ability to achieve goals; the prompt and effective integration of acquisitions, including the completion of the Arrangement; the establishment of the 50/50 joint arrangement with BHP and the realization of synergies and economies of scale in connection therewith; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to, global financial conditions, market volatility and inflation; the ability to consummate the Arrangement; the ability to obtain requisite regulatory approvals and the satisfaction of other remaining conditions to the consummation of the Arrangement on the proposed terms and schedule; the establishment of the 50/50 joint arrangement with BHP and the realization of synergies and economies of scale in connection therewith; the inability to currently control Filo and the ability to satisfy the relevant conditions and complete the Arrangement and establish the 50/50 joint arrangement with BHP on the proposed terms and schedule; risks relating to joint ventures, joint arrangements and operations; the potential impact of the consummation of the Arrangement on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Arrangement. This forward-looking information may be affected by risks and uncertainties in the business of Lundin Mining and Filo and market conditions; and other risks and uncertainties, including but not limited to those described in the "Risks and Uncertainties" section of the Company's MD&A for the three and nine months ended September 30, 2024 and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023, which are available on SEDAR+ at www.sedarplus.com under the Company's profile.

All of the forward-looking information in this document is qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Lundin Mining Publishes Swedish Short Form Document for Offer of New Lundin Mining Shares in Connection with the Acquisition of Filo Corp. (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/10/c6436.html

Futures tied to Canada's main stock index rose on Monday, helped by oil and metal prices, while investors looked ahead to this week's Bank of Canada's interest rate decision.

The TSX gained 11.76 points to conclude Friday at 25,691.80. On the week, the gain was nearly 44 points, or 0.17%.

December futures zoomed 0.4% Monday.

The Canadian dollar nicked higher 0.07 cents to 70.75 cents U.S.

The Bank of Canada is expected to cut the interest rate by half a percentage point on Wednesday, marking its second consecutive rate cut of such magnitude.

Bets for a hefty cut jumped after Friday's data showed a sharp rise in the unemployment rate, with nearly 80% of respondents in a Reuters poll predicting a 50-bps cut on Dec. 11 to 3.25%.

In corporate news, Swedish mining group Boliden agreed to buy Lundin Mining's Neves-Corvo mine in Portugal and the Zinkgruvan mine in Sweden.

ON BAYSTREET

The TSX Venture Exchange poked ahead 1.93 points to 610.22, declining on the week four points, or 0.66%.

ON WALLSTREET

U.S. stock futures were slightly lower on Monday after the S&P 500 and NASDAQ Composite posted their third straight winning week, ahead of key inflation data due out this week.

Futures for the Dow Jones Industrial average forged higher 19 points to 44,725.

Read:

Futures for the S&P 500 sank 7.25 points, or 0.1%, to 6,091.25

Futures for the NASDAQ Composite Index slid 54 points, or 0.3%, to 21,478.50.

The S&P 500 and NASDAQ closed at fresh records Friday, rising 1% and 3.3% for the week, respectively. The Dow was the lone laggard, closing the week down 0.6%.

Those moves come after the November jobs report showed stronger-than-expected growth, but not so much strength as to dent investor hopes the Federal Reserve will lower interest rates this month. Markets are pricing in an 85% chance the target rate will be lowered by a quarter point at the conclusion of the Dec. 18 meeting.

The November consumer price index, due out Wednesday, is expected to show a slight uptick in pricing pressures. Economists polled by Dow Jones expect a 0.3% and 2.7% monthly and yearly increase, respectively. That would be up from 0.2% and 2.6%, respectively, from the prior month.

On Monday, investors await October wholesale inventories data, due at 10 a.m. ET.

In Japan, the Nikkei 225 gained 0.2% Friday, while in Hong Kong, the Hang Seng jumped 2.8%

Oil prices poked 87 cents to $68.07 U.S. a barrel.

Gold prices rocketed $20.00 to $2,655.90 U.S. an ounce.

(Bloomberg) — Boliden AB agreed to acquire zinc and copper mines in Portugal and Sweden from Lundin Mining Corp. for as much as $1.52 billion, in a deal that bolsters supplies for its smelters at a time of intensifying global competition for mined ores.

Most Read from Bloomberg

The acquisition of Neves-Corvo in Portugal and Zinkgruvan in Sweden will almost double Boliden’s zinc concentrates output, while increasing production of copper concentrates by 43%, the Swedish company said Monday in a statement.

Bloomberg reported that Boliden was closing in on a deal to buy the assets last month, as it seeks to secure long-term raw-material supplies for its copper and zinc smelters in Scandinavia. Smelting margins have come under acute strain in recent months, and Boliden said on Monday that buying the mines will deliver an immediate boost to profitability.

“The addition of two cash flow generative zinc and copper mines in Portugal and Sweden has a strong industrial logic as well as a strategic fit,” Boliden Chief Executive Officer Mikael Staffas said in the statement.

Boliden said the upfront cash payment would be financed through a bridge loan. About half of that will be refinanced through a share issue, with the remaining amount taken out via medium and long-term debt financing. The miner expects to complete the transaction by the middle of next year, adding the deal is expected to be immediately earnings accretive.

The assets are in close proximity to Boliden’s existing operations, Citigroup Inc. said in a research note. “That should make the transaction a good strategic fit, and at the same time straightening its backward integration for the smelting business,” the bank said.

Lundin put its Zinkgruvan and Neves-Corvo mines on sale earlier this year as the Vancouver-based company turns its focus to Latin America. The mines are Lundin’s oldest assets and generated about 19% of the company’s revenue last year.

Lundin said it will receive an upfront cash consideration of $1.37 billion upon closing, as well as up to $150 million if certain conditions of the deal are satisfied. The company will use the proceeds from the deal to strengthen its balance sheet and support growth plans in the Vicuna District, an emerging copper and gold area in Argentina and Chile.

Boliden’s shares saw volatile trading as markets opened on Monday, initially opening 3.1% higher before swinging to a loss of as much as 1.7%. The shares were up 1% lower at 330.7 kronor at 09:40 a.m. in Stockholm.

–With assistance from Mark Burton.

(Updates with analyst comment in sixth paragraph, shares in final paragraph.)

Most Read from Bloomberg Businessweek

VANCOUVER, BC, Dec. 9, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces today it has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB (OM: BOL) ("Boliden") for up to $1.52 billion in total consideration (the "Transaction"). Unless otherwise stated, all numbers are presented in United States dollars.

Under the terms of the agreement, Lundin Mining will receive upfront cash consideration of $1.37 billion upon closing, based on a cash-free and debt-free enterprise value of $1.3 billion as of an August 31, 2024 lock box date ("Lock-Box"). In addition, Lundin Mining will receive up to $150 million in contingent cash consideration upon satisfaction of certain conditions outlined below. The Transaction is not subject to shareholder approval or any financing conditions.

The proceeds from the Transaction will strengthen the Company's balance sheet and support its growth plans in the Vicuña District.

Jack Lundin, President and CEO, commented "Neves-Corvo and Zinkgruvan have played a significant role in catalyzing the Company to become a multi-asset base metals producer of global scale. I want to thank the teams for their dedication and hard work over the years; the Company would not be where it is today without these two long-life mining operations. We believe these operations will be an excellent strategic fit under Boliden's operatorship, and the employees and local stakeholders will benefit from the new ownership and highly experienced management team.

"The sale will further strengthen our balance sheet to support the Company's growing portfolio in South America and enable management to concentrate our focus in an area which will provide the greatest long-term value for our shareholders. It is an opportune time to optimize our portfolio through this divestiture as we drive towards becoming a top-tier copper-dominant mining company."

Transaction Summary

Boliden has agreed to acquire 100% of the shares of Somincor–Sociedade Mineira de Neves-Corvo, S.A. ("Neves-Corvo") and 100% of the shares of each of Zinkgruvan Mining Aktiebolag and North Atlantic Natural Resources Aktiebolag (together "Zinkgruvan") from subsidiaries of Lundin Mining for up to $1.52 billion in cash, consisting of $1.37 billion in upfront cash consideration at closing and up to $150 million in contingent consideration. Total consideration at closing may also be subject to other customary adjustments in the event of non-permitted leakage from the Lock-Box.

Upfront Consideration

The terms of the agreement incorporate a Lock-Box completion mechanism, with the purchase price based on a cash-free and debt-free enterprise value of $1.3 billion, and assuming a normalized level of working capital. Based on the Lock-Box financial statements as of August 31, 2024, the upfront cash consideration to be paid at closing is $1.37 billion. The upfront cash consideration will also accrue interest at a 5% annual interest rate from August 31, 2024 to closing and is payable to the Company at closing.

Neves-Corvo Contingent Payment

Up to $100 million in contingent payments at Neves-Corvo is tied to underlying copper and zinc prices ("Neves-Corvo Contingent Payment"). Boliden will pay Lundin Mining 60% of the incremental revenue realized in each of the three calendar years between 2025 and 2027 where the average realized price on a semi-annual calendar period exceeds $4.50/lb copper and/or $1.30/lb zinc as per the London Metal Exchange ("LME") reference prices. Incremental revenue is calculated using total payable sales volumes of copper and/or zinc for the semi-annual calendar period and tax affected using Portugal's current corporate income tax rate.

Zinkgruvan Contingent Payment

Up to $50 million in contingent payments at Zinkgruvan is tied to underlying zinc prices ("Zinkgruvan Contingent Payment"). Boliden will pay Lundin 50% of the incremental revenue realized in each of the two calendar years between 2025 and 2026 where the average realized zinc price on an annual calendar year exceeds US$1.40/lb zinc, as per the LME reference prices, provided a minimum annual production of 135 million pounds of payable zinc is achieved. Incremental revenue is calculated using total payable sales volumes of zinc for an annual calendar year period and tax affected using Sweden's current corporate income tax rate. The Zinkgruvan Contingent Payment is subject to a maximum payout of $25 million per calendar year.

Indicative Timeline

The Transaction is anticipated to close in mid-2025, subject to the completion of customary conditions and regulatory approvals, including but not limited to merger control approvals by the EU Commission and approval of the Swedish Inspectorate of Strategic Products under the Swedish FDI Act, and the change of control approval by the Portuguese Directorate-General for Energy and Geology (Direção-Geral de Energia e Geologia) under the Neves-Corvo Concession Contract.

About Lundin Mining

The information in this news release is information that Lundin Mining is required to make public under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on December 9, 2024 at 1:00 am EST.

Cautionary Statement on Forward-Looking Information

Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the completion of the Transaction and the timing thereof; the conditions to close the Transaction; the terms of the contingent payments and expectations related thereto; the expectations for Boliden as a strategic fit and the benefits expected for stakeholders; the expected benefits of the Transaction for the Company, including the expectation to strengthen the Company's balance sheet and support its growth plans in the Vicuna District; the realization of prospects in the Vicuña district; the identification of additional value creation opportunities; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; anticipated exploration and development activities at the Company's projects; expansion projects and the realization of additional value; the Company's integration of acquisitions and expansions and any anticipated benefits thereof; the Company's ability to become a top tier copper producer; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, zinc, nickel, gold and other metals; anticipated costs; that the conditions to close the Transaction will be satisfied; the ability to achieve goals and identify and realize opportunities; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: the failure to obtain required approvals for the Transaction; global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; volatility and fluctuations in metal and commodity demand and prices; significant reliance on assets in Chile; reputation risks related to negative publicity with respect to the Company or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Josemaria Project; health and safety laws and regulations; risks associated with climate change; risks relating to indebtedness; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; inability to attract and retain highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; project financing risks, liquidity risks and limited financial resources; health and safety risks; compliance with environmental, unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; changing taxation regimes; the inability to effectively compete in the industry; risks associated with acquisitions partnerships; expansions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; regulatory investigations, enforcement, sanctions and/or related or other litigation; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; risks associated with the use of derivatives; risks relating to joint ventures and operations; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; exchange rate fluctuations; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; risks relating to dilution; risks relating to payment of dividends; counterparty and customer concentration risks; activist shareholders and proxy solicitation matters; estimation of asset carrying values; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of significant shareholders; challenges or defects in title; internal controls; risks relating to minor elements contained in concentrate products; the threat associated with outbreaks of viruses and infectious diseases; mining rates and rehabilitation projects; mill shut downs; and other risks and uncertainties, including but not limited to those described in the " Risks and Uncertainties" section of the Company's MD&A for the three months ended March 31, 2024 and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023, which are available on SEDAR+ at www.sedarplus.com under the Company's profile.

All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Lundin Mining Announces Sale of Neves-Corvo and Zinkgruvan for Total Consideration of up to $1.52 Billion (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/09/c6844.html

An investment opportunity is unfolding that most investors are completely unaware of…

We are on the brink of a potential global shortage of a critical resource that powers the world’s most important industries…

It is essential to the U.S. military and is vital for manufacturing smartphones, tablets, high-definition TVs, semiconductors, kitchen appliances, solar panels and new cars.

The critical mineral that is so essential to multiple industries is antimony – a shiny grey metalloid with a flaky texture.

Antimony has been used for decades in military applications and is a highly critical element for the defense industry. It is necessary for armor-piercing ammunition, night vision goggles, infrared sensors, bullets, precision optics, explosive formulations, nuclear weapons semiconductors, cables, and batteries.

But with China now accounting for over 60% of global production, the U.S. and European nations are now racing to prevent a potential Chinese monopoly.

Concerns about this supply risk have already sent the price of antimony soaring more than 200% over the past year, with no end in sight.

Currently, just a handful of countries—including China and Russia—produce the majority of the world’s antimony, but there is tremendous investment potential for companies that could bring new supplies online.

Our top pick for the sector is Military Metals Corp. (CSE: MILI, OTCQB: MILIF), a British Columbia-based mineral exploration company that spotted the trend in antimony before others were aware there was even a problem. They have been on an acquisition spree of mines with large historical resources to give them the ability to move quickly in what could be an explosive space.

Potential investors should look at a number of their peers who have seen explosive share price growth over the last few months:

For example, Perpetua Resources (Nasdaq: PPTA) – a U.S.-based explorer and developer of mineral properties including antimony – has shot up 261.3% over the past eight months. The company is in the process of receiving$1.86 billion in financing from the U.S. government, including the Department of Defense to help with the company’s production of antimony at the Stibnite Gold Project located in Idaho.

Larvotto Resources Ltd. (ASX: LRV) – with mineral resource properties in Australia and New Zealand – has soared an impressive 916.95% since March of this year thanks in large part for its potential to bring new supplies of antimony online.

Military Metals is the new kid on the block with a much lower valuation, but following a recent announcement that it has purchased one of Europe’s largest antimony deposits with a historical resource in Slovakia it is now punching well above its weight.

Perpetua Resources listed above has over 90,000 tons of antimony in the ground with a valuation of close to $700 million whereas Military Metals Corp. will soon have over 60,998 tons of a historical resource of high-grade antimony and has a valuation of just $23million.

The company is now actively working to unlock the value of strategic antimony assets from multiple historical sites and potentially bring new supplies of antimony online at a time when it is desperately needed.

In North America, Military Metals Corps (CSE: MILI, OTCQB: MILIF), West Gore Property spans four exploration licenses covering 585 hectares in Hants County, Nova Scotia at a site that was once Canada’s most prominent antimony mine.

West Gore consists of an underground mine that operated between 1882 and 1939, extracting antimony from as many as seven mining levels.

During World War I, West Gore was Canada’s most prominent antimony mine, processing over 7,500 tons of ore and shipping nearly 400 tons of concentrate overseas for smelting between 1910-1911.

The combination of geology and historical mining data at this property positions West Gore as a unique and promising target for modern exploration.

Map of Military Metals’ West Gore Project Claims

Just recently – in October 2024 – the company announced the addition of key new claims surrounding its West Gore Antimony Project in Nova Scotia that adds an additional 388 hectares to the project, nearly doubling its size and potential.

This acquisition is key because it gives Military Metals complete coverage over the entire mineralized system at West Gore, enabling the company to approach the antimony-gold system in its entirety to unlock future value.

The Three Properties that are part of the recent acquisition in Slovakia offer significant upside potential as one of EU’s largest historical deposits in a publicly traded company. The country also has strong mining infrastructure and a history of being friendly towards mining operations.

Map showing the location of Military Metals Corp.’s properties in Slovakia

Digging deeper into the three properties

Trojarova Antimony Project:

The Trojarova antimony project is located near Pezinok in western Slovakia in an area that was extensively explored during the Soviet era.

The region has a rich mining history going back to the 14th century that includes antimony, gold, iron, and more.

Trojarova hosts a historical resource in category P1 in the Soviet classification system of 2.46 million metric tons at a grade of 2.48% antimony and 0.59 grams per ton gold (using a cut-off grade of 1% antimony), equivalent to 60,998 tons of contained antimony and 46,778 ounces of gold.

At today’s Antimony prices Military Metals has over $2 billion worth of In situ value of Antimony in the ground in their historical 60,998 ton resource at prices of $38,000 a ton spot price.

Tienesgrund Property:

The Tienesgrund property is located near Roznava, a historic mining town in eastern Slovakia. The site features two primary antimony-gold (Sb-Au) veins and saw limited antimony-gold production between 1840-1932.

Here is the mines timeline:1840: First recorded commercial exploitation of antimony veins.

1930s: Mines reopened, producing 1,000 tonnes of concentrate by 1932.

1950s: Underground development work including assessing the property’s tungsten potential

(found in association with antimony-gold)

Recent: Recent work includes sampling of veins on surface (grabs up to 38% antimony and

9.7gpt gold) and a LIDAR survey.

Bear Creek Property:

The Bear Creek property is located just outside the town of Hnilec in eastern Slovakia.

This property features a classic tin vein system with underground workings and historical resources. It has a calculated resource of 863,000 tonnes grading 0.19% tin using the Soviet-style classification of mineral deposits.

The location of these properties combined with the current supply-demand environment for antimony could help open the door to potential EU funding sources as the company advances these projects toward production.

What Makes Antimony so Critically Important to Many NationsThe importance of antimony in the modern world truly cannot be overstated.

Antimony’s importance dates back several decades as it was used in alloys for weapons and tools as early as the Bronze Age and through the Middle Ages.

More recently, antimony played a vital role in World War I as a strengthening component for ammunition and in supporting military communications. In World War II, antimony’s role expanded further, particularly in the production of lead-based alloys for bullets and other ammunition. Additionally in World War II, antimony was given the nickname “Hero Metal”, it was credited with saving countless American troops as an antimony compound was used to fireproof tents and vehicle covers to suppress the spread of flames.

In today’s modern military world, the availability of antimony is crucial for maintaining defense readiness and technological superiority.

The last time antimony was trading at all-time highs was back in World War II.

Modern military applications for antimony include the manufacture of infrared sensors, night vision goggles, armor-piercing bullets, explosive formulations, nuclear weapons, and more.

In short, the U.S. military would be lost without access to consistent supplies of antimony.Military Metals (CSE: MILI, OTCQB: MILIF), is rapidly emerging as a leader in the exploration and discovery of the metals that make a difference in defense technology.

By focusing on critical resources like antimony, the company helps provide the essential materials that strengthen military equipment and infrastructure.

And the company’s acquisition strategy could pay off in a huge way for investors in the months ahead.

In addition to its recent acquisition of more territory in Nova Scotia, Canada, the company also recently expanded its portfolio of mineral resource assets in Slovakia.

In October 2024, the company announced it had purchased the Trojarova Antimony Project, Tienesgrund Antimony project and the Medvedi Tin Project, which are located in Slovakia and contain historical resources. Slovakia is a member of the European Union, which has adopted the Critical Raw Materials Act to support domestic projects for critical metals.

The acquisition of these properties strategically positions them as a leading explorer and potential developer of antimony.

This commitment to becoming a leading explorer of antimony is likely to generate considerable attention as the company’s projects progress in the months ahead as the U.S. military – as well as European nations – continue to search for new supplies.

Chinese Export Restrictions put even Greater Pressure on Antimony SupplyThe recent restrictions placed on the exporting of antimony, which took effect September 15, pose a serious threat to the U.S. and other nations.

Without access to China’s supply, the U.S. and other nations could face significant challenges, which makes bringing new potential supplies online even more important.

“China to limit antimony exports in latest critical mineral curbs.”– CNN, August 15, 2024

This restriction of exports for a critical mineral is something China has done before.

In fact, in 2023 China began implementing exports restrictions for gallium, germanium and graphite in response to the U.S. establishing export controls of its own on advanced semiconductor chips to China.

This combination of declining production from China – along with new export restrictions – as well as increasing demand for antimony worldwide has already sent antimony prices to record highs.

And those prices are expected to climb even higher.

According to expert Chetan Soni at consultancy CRU, “Given we are still at record prices, it’s likely that prices will go even higher with this announcement (regarding export restrictions).”

Soni added that prices could reach as high as $30,000 – up from current levels of roughly $22,500 – as buyers would be looking to secure material for future production.

As of right now current prices of Antimony are trading at over $38,000 a tonne as of Nov 18 2024 surpassing Chetan Sonis predictions of $30,000 back in 2023.

The Bottom Line: Soaring Antimony Prices Have Triggered High Upside OpportunityThere is no question that a high-upside scenario has developed quickly for antimony, a critical mineral needed for a number of vital military and high-tech applications.

With potentially declining production – and a restriction on Chinese exports – prices for antimony have already climbed to record highs, with experts calling for even higher prices in the months ahead.

All of this creates an environment where those companies who offer the potential to bring new supplies of antimony online quickly could see significant increases in valuation.

This has already been seen with companies like U.S.-based Perpetua Resources (Nasdaq: PPTA), which has shot up 261.3% over the past eight months and Australia-based Larvotto Resources Ltd. (ASX: LRV), which is up a staggering 916.95% since March of this year.

Military Metals (CSE: MILI, OTCQB: MILIF), with its acquisition strategy and its growing portfolio of mineral assets in Canada and Slovakia, could become the next company to help investors take advantage of soaring antimony prices and collect potential windfall profits.

Other Resource Companies to Watch

Rio Tinto (NYSE: RIO) is a global mining giant with a finger in just about every pie when it comes to essential resources. From aluminum and copper to diamonds and uranium, this UK-Australian company operates in 35 countries, digging up the raw materials that make modern life possible. But it's not just their size and scope that makes them stand out; Rio Tinto is also committed to doing things the right way.

They're investing heavily in innovation and sustainable mining practices. This means they're not just focused on extracting resources; they're also working to minimize their environmental impact and rehabilitate the land they mine. Think renewable energy, cutting-edge technology, and a commitment to leaving things better than they found them. This forward-thinking approach is good for the planet and makes good business sense, ensuring the long-term viability of their operations.

Rio Tinto sees sustainability as a core part of its business strategy, not just a PR move. They're setting a high bar for the mining industry, showing that it's possible to be both profitable and responsible. By embedding sustainable practices throughout their operations, they're creating value for their shareholders while minimizing their environmental footprint. This commitment to doing good while doing well makes them a leader in the global mining industry.

BHP Group’s (NYSE:BHP) is a global mining powerhouse with a presence on several continents. From the massive iron ore mines in Australia to copper and coal operations in the Americas, BHP digs up the essential resources that fuel our modern world. This diverse portfolio and global reach make them a key player in meeting the world's growing demand for raw materials.

But BHP is not just about extracting resources; they're also committed to doing it responsibly. They've set ambitious targets to shrink their environmental footprint, investing in technologies to reduce greenhouse gas emissions and improve water efficiency. They also work closely with local communities to minimize the impact of their operations. This dedication to sustainability has earned them a spot as a leader on the Dow Jones Sustainability Index.

In a world where consumers and investors are increasingly focused on ethical and environmentally responsible practices, BHP's commitment to sustainability gives them a competitive edge. By prioritizing responsible mining, they're not just digging up resources; they're building a sustainable future. This commitment to doing good while doing well sets them apart in the global mining industry.

Albemarle Corporation (NYSE:ALB), headquartered in Charlotte, North Carolina, is a global specialty chemicals company with a rich history and a strong focus on innovation. While they might not be a household name, their products touch many aspects of our lives, from the batteries in our smartphones to the medicines we take. Albemarle operates across three main segments: Lithium, Bromine Specialties, and Catalysts.

Interestingly, Albemarle's roots go all the way back to 1887 when they started as a paper manufacturing company. Over the years, they strategically diversified, evolving into the global specialty chemicals leader they are today. A major turning point was their merger with Ethyl Corporation in 1994, which significantly expanded their product portfolio and market reach.

Today, Albemarle is perhaps best known as the world's largest lithium producer. With the rise of electric vehicles and increasing demand for lithium-ion batteries, Albemarle is at the forefront of this rapidly growing market. They've been investing heavily in expanding their lithium production capacity, including building a new lithium hydroxide plant in North Carolina. This strategic focus on lithium positions Albemarle as a key player in the transition to cleaner energy and a more sustainable future.

SQM (NYSE: SQM), a Chilean chemical company, is a major player in the lithium market. They're one of the world's leading producers of this crucial element, which is used in everything from electric vehicle batteries and smartphones to increasingly important military technologies. Think advanced communication systems, unmanned vehicles, and drones – all powered by lithium-ion batteries. SQM's vast lithium reserves in the Atacama Desert and their impressive production capacity make them a critical link in the global lithium supply chain.

Why does this matter? For countries like the United States, which rely heavily on advanced technology for their defense, having a reliable source of lithium is crucial. By sourcing lithium from SQM, nations can reduce their dependence on potentially unstable or unfriendly countries, ensuring a steady supply of this essential material for their defense industries. This helps avoid potential supply chain disruptions and ensures that militaries have the resources they need to produce the equipment and weapons systems necessary for national security.

SQM also stands out for its commitment to sustainable lithium extraction. In a world increasingly focused on responsible sourcing and minimizing environmental impact, SQM's efforts to reduce their footprint in the Atacama Desert are essential. This commitment ensures that the lithium used in defense applications is produced in a way that is both environmentally and socially responsible.

Perpetua Resources (NASDAQ:PPTA) is an American company focused on developing the Stibnite Gold Project in Idaho, a project with the potential to significantly boost domestic production of both gold and antimony. Antimony is a critical mineral used in a wide range of applications, from flame retardants and batteries to ammunition and military equipment. Currently, the US relies heavily on imports for its antimony supply, making this project strategically important for strengthening domestic production and reducing reliance on foreign sources.

The Stibnite Gold Project has garnered strong support from the US government, including significant funding from the Department of Defense. This highlights the project's importance for national security and its potential to bolster the domestic supply chain for critical minerals. The project is expected to be a major source of gold and the only domestic producer of antimony, contributing to economic growth and job creation in Idaho while also ensuring a more secure and reliable supply of these essential resources.

Beyond its economic and strategic benefits, Perpetua Resources is committed to responsible mining and environmental stewardship. The company plans to revitalize a historic mining area in Idaho, employing modern mining practices to minimize environmental impact and restore the site after mining is complete. This commitment to sustainability aligns with the growing emphasis on responsible sourcing and environmentally conscious practices in the mining industry.

Cleveland-Cliffs Inc. (NYSE:CLF) is a major force in the American steel industry and a vital partner to the US defense sector. As North America's largest producer of flat-rolled steel, they provide the essential materials used to build everything from military vehicles and ships to aircraft and critical infrastructure. This makes them a crucial link in the defense supply chain, ensuring that the US military has the resources it needs to maintain its readiness and protect national security.

One of the key reasons Cleveland-Cliffs is so important to US defense is that they provide a domestic source of steel. This reduces reliance on foreign suppliers, which can be vulnerable to disruptions during times of conflict or global instability. By sourcing steel from Cleveland-Cliffs, the US can ensure a stable and reliable supply of this critical material, strengthening the resilience of the defense industrial base.

Furthermore, Cleveland-Cliffs is committed to sustainable practices, including responsible mining and the use of renewable energy. This is increasingly important in the defense sector, as there's a growing emphasis on minimizing environmental impact and promoting responsible resource management. Cleveland-Cliffs' dedication to sustainability aligns with these goals, contributing to a more environmentally conscious and resilient defense industry.

Southern Copper Corporation (NYSE: SCCO) is a major player in the copper industry, with extensive mining operations in Mexico and Peru. Copper is essential for a wide range of industrial applications, including many within the defense sector. It's used in everything from ammunition and electrical wiring to electronic components found in various military equipment. This makes Southern Copper a crucial partner in meeting the copper needs of the US defense industry.

Having a reliable and consistent supply of copper is vital for the production of critical defense equipment and ensuring the US military's operational readiness. Southern Copper's large production capacity and focus on efficiency make them a dependable supplier, strengthening the stability and resilience of the defense supply chain.

But Southern Copper is more than just a copper producer. They are also committed to sustainable mining practices and community development. They actively work to minimize their environmental impact and engage with local communities, promoting responsible sourcing of this important resource. This commitment to ethical and sustainable practices enhances the integrity of the defense supply chain and contributes to responsible resource management.

Cameco Corp (NYSE: CCJ) isn't just a uranium mining company; they're a key player in global energy security. As a leading provider of uranium fuel, they have a hand in powering homes and businesses around the world. But their impact goes beyond keeping the lights on. Cameco's uranium also plays a vital role in national defense, fueling the nuclear reactors that power submarines and aircraft carriers. This makes them a crucial partner in ensuring the operational readiness of the US Navy and its ability to protect national interests.

What sets Cameco apart is their commitment to responsible mining. They operate in Canada and the United States, adhering to strict safety and environmental regulations. This focus on sustainability ensures that they extract uranium in a way that minimizes their environmental impact and protects the health and safety of their workers and surrounding communities. By prioritizing responsible practices, Cameco is helping to ensure the long-term viability of the nuclear industry and its role in providing clean and reliable energy.

With the growing focus on reducing carbon emissions and achieving energy independence, Cameco's role is becoming increasingly important. They are not only providing the fuel for clean energy generation but also contributing to national security by supporting the US nuclear deterrent. As the world seeks reliable and sustainable energy solutions, Cameco is well-positioned to play a crucial role in shaping the future of the nuclear industry.

Teck Resources Limited (NYSE:TECK) is a major global mining company headquartered in Vancouver, Canada. They have a diverse portfolio of mining operations across North and South America, producing a variety of essential metals and commodities, including zinc, copper, coal, lead, and silver. This makes them a significant contributor to the global supply of these important materials, which are used in everything from construction and manufacturing to technology and energy.

Teck is particularly important in the zinc market, where they hold a strong position as the world's second-largest producer. Zinc is a versatile metal used in numerous applications, including the production of galvanized steel, batteries, and chemicals. This makes Teck's zinc production vital for supporting key industries and driving economic growth.

Looking ahead, Teck's operations are strategically significant due to the increasing demand for battery metals. Zinc plays a crucial role in various battery types, including those used in electric vehicles. As the world transitions towards cleaner energy solutions and electric vehicles become more prevalent, Teck's zinc production will be essential in meeting the growing needs of this market. This positions the company as a key contributor to a more sustainable future.

By. Tom Kool

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The Canadian market is showing strong momentum as it heads into 2025, supported by resilient consumer spending, rising corporate profits, and the beginning of a rate-cutting cycle. While optimism is high, investors are advised to remain cautious of potential curveballs and consider diversifying their portfolios. Penny stocks, often representing smaller or newer companies, continue to offer intriguing opportunities for those looking beyond the big names; they can provide a mix of affordability and growth potential when paired with strong financials.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Alvopetro Energy (TSXV:ALV)	CA$4.54	CA$165.86M	★★★★★★
Amerigo Resources (TSX:ARG)	CA$1.74	CA$288.49M	★★★★★☆
Pulse Seismic (TSX:PSD)	CA$2.34	CA$119.07M	★★★★★★
PetroTal (TSX:TAL)	CA$0.63	CA$574.88M	★★★★★★
Mandalay Resources (TSX:MND)	CA$3.52	CA$330.8M	★★★★★★
Foraco International (TSX:FAR)	CA$2.18	CA$215.73M	★★★★★☆
Findev (TSXV:FDI)	CA$0.455	CA$13.03M	★★★★★☆
Silvercorp Metals (TSX:SVM)	CA$4.79	CA$1.04B	★★★★★★
NamSys (TSXV:CTZ)	CA$1.07	CA$28.74M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★

Click here to see the full list of 960 stocks from our TSX Penny Stocks screener.

Here’s a peek at a few of the choices from the screener.

Green Impact Partners

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Green Impact Partners Inc., with a market cap of CA$73.31 million, offers water, waste, and solids treatment and recycling services across North America.

Operations: The company generates revenue of CA$157.99 million from its water and solids recycling and energy product optimization segment.

Market Cap: CA$73.31M

Green Impact Partners Inc., with a market cap of CA$73.31 million, shows potential in the penny stock segment through its substantial revenue generation of CA$157.99 million from water and solids recycling services. Despite this, the company is currently unprofitable and not expected to reach profitability within the next three years. Its net debt to equity ratio stands at a satisfactory 16.9%, although short-term assets exceed liabilities, long-term liabilities remain uncovered by short-term assets. Recent earnings reports indicate increased losses compared to previous periods, highlighting ongoing financial challenges despite stable weekly volatility over the past year.

TSXV:GIP Debt to Equity History and Analysis as at Nov 2024Regulus Resources

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Regulus Resources Inc. is a mineral exploration company with a market cap of CA$251.81 million.

Operations: No revenue segments are reported for this mineral exploration company.

Market Cap: CA$251.81M

Regulus Resources Inc., with a market cap of CA$251.81 million, operates as a pre-revenue mineral exploration company, focusing on strategic asset acquisitions like the recent agreement to acquire the remaining 30% interest in Colquirrumi claims. Despite being unprofitable and having experienced increased losses over five years, Regulus benefits from a seasoned management team and board with extensive tenure. The company is debt-free and maintains sufficient cash runway for over three years based on current free cash flow levels. While short-term assets significantly exceed liabilities, earnings have not shown growth compared to industry standards.

TSXV:REG Financial Position Analysis as at Nov 2024Wallbridge Mining

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Wallbridge Mining Company Limited focuses on the acquisition, exploration, discovery, development, and production of gold properties with a market cap of CA$65.28 million.

Operations: Wallbridge Mining Company Limited does not have any reported revenue segments.

Market Cap: CA$65.28M

Wallbridge Mining Company Limited, with a market cap of CA$65.28 million, is a pre-revenue entity focusing on gold exploration and development. The company recently announced significant high-grade gold intercepts from its Martiniere project, which could indicate potential resource expansion. Despite being debt-free, Wallbridge faces challenges with short-term assets not covering long-term liabilities and has experienced shareholder dilution over the past year. Recent private placements raised CA$6.23 million to support ongoing exploration efforts. The management team is relatively new, while the board has more experience with an average tenure of 3.9 years.

TSX:WM Financial Position Analysis as at Nov 2024Seize The Opportunity

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Jump on the AI train with fast growing tech companies forging a new era of innovation.
Find companies with promising cash flow potential yet trading below their fair value.

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.

Companies discussed in this article include TSXV:GIP TSXV:REG and TSX:WM.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Over the last 7 days, the Australian market has risen 1.5%, contributing to a 17% increase over the past year, with earnings forecasted to grow by 12% annually. For investors interested in smaller or newer companies, penny stocks—despite their somewhat outdated name—can still present intriguing opportunities when backed by strong financials. This article explores several penny stocks that stand out for their financial strength and potential for long-term growth.

Top 10 Penny Stocks In Australia

Name	Share Price	Market Cap	Financial Health Rating
LaserBond (ASX:LBL)	A$0.59	A$68.57M	★★★★★★
Embark Early Education (ASX:EVO)	A$0.81	A$146.79M	★★★★☆☆
Helloworld Travel (ASX:HLO)	A$2.00	A$318.31M	★★★★★★
Austin Engineering (ASX:ANG)	A$0.54	A$310.07M	★★★★★☆
MaxiPARTS (ASX:MXI)	A$1.89	A$103.44M	★★★★★★
SHAPE Australia (ASX:SHA)	A$2.88	A$239.61M	★★★★★★
Navigator Global Investments (ASX:NGI)	A$1.65	A$825.78M	★★★★★☆
West African Resources (ASX:WAF)	A$1.48	A$1.7B	★★★★★★
Atlas Pearls (ASX:ATP)	A$0.15	A$69.71M	★★★★★★
Servcorp (ASX:SRV)	A$4.80	A$483.46M	★★★★☆☆

Click here to see the full list of 1,044 stocks from our ASX Penny Stocks screener.

Here’s a peek at a few of the choices from the screener.

Aurelia Metals

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Aurelia Metals Limited is an Australian company involved in the exploration and production of mineral properties, with a market capitalization of A$287.57 million.

Operations: The company’s revenue segments comprise the Hera Mine generating A$0.20 million, the Peak Mine contributing A$207.34 million, and the Dargues Mine adding A$102.36 million.

Market Cap: A$287.57M

Aurelia Metals Limited, with a market cap of A$287.57 million, remains unprofitable despite generating A$309.89 million in sales for the year ending June 2024. The company has seen its debt to equity ratio rise over five years but maintains more cash than total debt and sufficient short-term assets to cover liabilities. While earnings are forecasted to grow annually by 30.18%, challenges persist due to negative return on equity and increasing losses over the past five years at a significant rate. Management and board experience is limited, potentially impacting strategic direction amidst stable weekly volatility in stock performance.

ASX:AMI Financial Position Analysis as at Nov 2024Djerriwarrh Investments

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Djerriwarrh Investments Limited is a publicly owned investment manager with a market cap of A$833.34 million.

Operations: The company generates revenue primarily from its portfolio of investments, amounting to A$53.38 million.

Market Cap: A$833.34M

Djerriwarrh Investments Limited, with a market cap of A$833.34 million, has shown stable financial health despite some challenges. The company’s earnings have grown modestly by 5.3% annually over five years, although recent negative growth (-0.3%) contrasts with industry averages. Its dividend yield of 4.83% is not well covered by earnings or cash flows, raising sustainability concerns. However, Djerriwarrh’s debt management is strong; it holds more cash than total debt and maintains high interest coverage (11.7x). Recent board changes include Catherine Brenner’s appointment as Non-Executive Director following Alice Williams’ retirement announcement at the AGM in October 2024.

ASX:DJW Debt to Equity History and Analysis as at Nov 2024Michael Hill International

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Michael Hill International Limited operates jewelry stores and offers related services across Australia, New Zealand, and Canada with a market cap of A$227 million.

Operations: The company generated revenue of A$646.60 million from its operations in Australia, New Zealand, and Canada.

Market Cap: A$227M

Michael Hill International, with a market cap of A$227 million, is currently unprofitable but shows potential for earnings growth at 37.42% per year. Despite a negative return on equity, the company maintains a satisfactory net debt to equity ratio of 23.2%, and its operating cash flow covers debt well (64.1%). Recent sales announcements indicate an upward trend with group sales up 4.3% in early fiscal 2025, driven by strong performance in Australia and Canada. However, challenges remain as interest payments are not well covered by EBIT, and no final dividend was declared for the past fiscal year.

ASX:MHJ Financial Position Analysis as at Nov 2024Turning Ideas Into Actions

Explore the 1,044 names from our ASX Penny Stocks screener here.
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Contemplating Other Strategies?

Explore high-performing small cap companies that haven’t yet garnered significant analyst attention.
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Companies discussed in this article include ASX:AMI ASX:DJW and ASX:MHJ.

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Passive investing in an index fund is a good way to ensure your own returns roughly match the overall market. But if you buy individual stocks, you can do both better or worse than that. Unfortunately the BHP Group Limited (ASX:BHP) share price slid 16% over twelve months. That contrasts poorly with the market return of 22%. On the other hand, the stock is actually up 3.1% over three years.

Now let's have a look at the company's fundamentals, and see if the long term shareholder return has matched the performance of the underlying business.

View our latest analysis for BHP Group

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Unfortunately BHP Group reported an EPS drop of 39% for the last year. This fall in the EPS is significantly worse than the 16% the share price fall. So the market may not be too worried about the EPS figure, at the moment — or it may have expected earnings to drop faster.

The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

ASX:BHP Earnings Per Share Growth November 21st 2024

It's good to see that there was some significant insider buying in the last three months. That's a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..

What About Dividends?

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, BHP Group's TSR for the last 1 year was -11%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!

A Different Perspective

Investors in BHP Group had a tough year, with a total loss of 11% (including dividends), against a market gain of about 22%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 11%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. 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. Case in point: We've spotted 2 warning signs for BHP Group you should be aware of.

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: most of them are flying under the radar).

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

Antimony, a silvery-white metalloid, might not be a household name, but it plays a crucial role in our modern world.

It's a key ingredient in military tech, batteries, and semiconductors.

And now, a global antimony crisis may be looming as demand far outstrips supply…

This obscure metal has become a strategic linchpin in modern warfare – and right now, China holds all the cards.

And today, we're looking at two companies that could help the West break free from China's stranglehold on this key resource.

#1 Military Metals (CSE: MILI, OTCQB: MILIF)

Canadian junior miner Military Metals wasted no time jumping into this game with a series of major antimony acquisitions on two continents–Europe and North America.

They’re hoping to help turn the tables on Chinese domination, and they’re moving quickly to do so.

Military Metals recently announced that it has purchased one of Europe’s largest antimony deposits in Slovakia with a historical resource.

One of the properties acquired is Trojarova. This is a Soviet-era resource with an initial discovery from the 1950s and prior development in the ‘80s and ‘90s. It’s already seen two phases of exploration. According to Military Metals CEO Scott Eldridge, the Slovakian government’s earlier exploration was halted before they reached the richest part of the deposit.

Source: Military Metals

Back then, the Cold War was winding down, and what would follow next was a destocking and the Strategic Arms Reduction Treaty (START) between the Soviets and the United States. Antimony was no longer critical.

That’s all changed now. The world is at war.

And Trojarova, with a historical resource of over 60,998.4 tons of antimony of in situ value worth around $2 billion at today’s spot prices—could become a military kingmaker. Perpetua Resources has 90,000 tons of Antimony. These 2 companies are the largest Antimony companies in N.America.

Figure 1 Military Metals. (CSE: MILI, OTCQB: MILIF):

For Slovakia, it could mean new status as a European supplier of a key national defense critical metal at a time when Germany is certain it will go to war with Russia in the next few years.

The company anticipates that the robust mining infrastructure in Slovakia aligns perfectly with the European Union's Critical Raw Materials Act, opening avenues for potential EU funding as it advances these projects toward production.

In March 2024, the European Union allocated 500,000,000 euro under the Act in Support of Ammunition Production (ASAP) to boost output capacity to 2 million shells annually by the end of 2025. But the Western militaries have a major problem.

With the European Union cornered, Military Metals Corp. moved to grab antimony resource shares in North America, too–in Canada’s Nova Scotia, where it acquired the West Gore Antimony Project–one of Canada’s largest antimony mines and a hero of WWI supplies.

With historical drilling results indicating over 7 meters of 10.6 gpt gold and 3.4% antimony, Military Metals is planning to score a huge antimony victory for the home front. Just a month after securing West Gore, it moved to further consolidate the territory around it in an October 24th, 2024 LOI to acquire more claims in a strategic flanking move.

Eldridge is expecting the supply crunch to snowball, with antimony prices already doubling this year, and poised to keep going into next year. Military Metals is now strategically positioned as a leading developer of the metal that will make or break the Western world in global warfare.

#2 Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources’ (NASDAQ: PPTA) flagship Stibnite Gold Project in Idaho is not only one of the largest open-pit gold mines in the United States–it is also set to be the country’s only domestic source of antimony.

According to the company, the mine–a key player for Allied Forces in WWII–could end up supplying some 35% of U.S. antimony demand in the first six years of production.

Federal support for Stibnite has been significant, with the Department of Defense awarding Perpetua Resources up to $34.6 million in additional funding in February of this year under the existing Technology Investment Agreement (TIA) through Title III of the Defence Production Act (DPA), then receiving a letter of interest for a $1.8 billion loan from the U.S. Export-Import Bank (EXIM) earlier this year to help develop the mine.

This potential financing, which offers a 15-year term at competitive rates, is a rare backing that underscores the project’s importance to national security, particularly as the U.S aims to reduce its reliance on Chinese mineral imports. In fact, the loan would be one of the largest investments ever in a mine by the U.S. government.

In a further show of government support, the Pentagon has already committed nearly $60 million under the Defense Production Act to advance Stibnite’s permitting process, emphasizing the mine’s role in securing a domestic antimony supply chain. Perpetua Resources said in September this year that it expected to be issued the final permit for the mine this December.

Source: Perpetua Resources Investor Presentation, October 2024

With bipartisan support and no expected regulatory hurdles due to federal interest, Perpetua Resources presents a unique opportunity and analysts are taking note.

Just a month ago, Roth MKM increased the stock’s target price to $15, signaling a projected 45% return as Perpetua Resources advances toward production.

High institutional interest and the project’s potential for environmental remediation and restoration of fish spawning areas reinforce Perpetua Resource’s long-term value and align the company with broader U.S. strategic and environmental objectives.

Bonus stocks to keep an eye on:

Cleveland-Cliffs Inc. (NYSE:CLF)

Cleveland-Cliffs is the largest flat-rolled steel producer in North America and a major supplier of iron ore pellets. The company is integral to the US defense industry, providing essential materials for a wide range of applications. Their steel is used in the construction of military vehicles, ships, aircraft, and infrastructure, as well as in the manufacturing of critical components for weapons systems.

Cleveland-Cliffs' position as a leading domestic steel producer is vital for ensuring the stability and self-reliance of the US defense industrial base. By sourcing steel domestically from companies like Cleveland-Cliffs, the US can reduce its dependence on foreign suppliers and mitigate potential supply chain disruptions during times of conflict or geopolitical instability. This reliable access to high-quality steel is essential for maintaining the production of critical defense equipment and ensuring the readiness of the US military.

Moreover, Cleveland-Cliffs' commitment to sustainable practices, such as responsible mining and the use of renewable energy sources, aligns with the growing emphasis on environmental stewardship within the defense sector. By minimizing its environmental impact and promoting responsible resource management, Cleveland-Cliffs contributes to a more sustainable and resilient defense industrial base.

Southern Copper Corporation (NYSE: SCCO)

Southern Copper Corporation is one of the largest integrated copper producers in the world, with significant mining and refining operations in Mexico and Peru. Copper is a critical material for the defense industry, used extensively in the production of ammunition, electrical wiring, and electronic components for various military applications.

Southern Copper's large-scale production capacity and its commitment to operational efficiency make it a reliable supplier of copper to the US defense industry. A stable supply of copper is crucial for maintaining the production of essential defense equipment and ensuring the operational readiness of the US military.

Furthermore, Southern Copper's focus on sustainable mining practices and community development contributes to responsible sourcing of this critical material. By minimizing its environmental footprint and engaging with local communities, Southern Copper promotes ethical and sustainable practices within the defense supply chain.

Cameco Corp (NYSE: CCJ)

Cameco Corporation is one of the world's largest providers of uranium fuel, a critical component for nuclear power generation and the production of nuclear weapons. Cameco's operations, primarily located in Canada and the United States, play a vital role in ensuring a secure and reliable supply of uranium for both defense and civilian nuclear applications.

Cameco's uranium mining and processing activities are essential for maintaining the US nuclear deterrent and ensuring the continued operation of nuclear-powered aircraft carriers and submarines. A stable supply of uranium fuel is vital for national security, as it underpins the US's nuclear capabilities and its ability to project power globally.

Furthermore, Cameco's commitment to safety and environmental responsibility is crucial for the sustainable and ethical sourcing of uranium.

By adhering to stringent safety standards and minimizing the environmental impact of its operations, Cameco contributes to the responsible management of nuclear materials and supports the long-term viability of the nuclear industry.

Teck Resources Limited (NYSE:TECK)

Teck Resources 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.

Steel Dynamics (NASDAQ: STLD)

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States. The company produces a wide range of high-quality steel products, including flat roll steel, structural steel, and rail, which are essential for various industries, including the defense sector. From the construction of military vehicles and ships to the building of infrastructure and manufacturing of critical components, steel remains a foundational material for national defense.

A strong and resilient domestic steel industry is vital for ensuring national security. Steel Dynamics' production capacity and commitment to technological advancement contribute to the stability and self-reliance of the U.S. defense industrial base. By sourcing steel from domestic producers like Steel Dynamics, the U.S. can reduce its dependence on foreign suppliers and ensure that it has access to the necessary materials to support its defense needs in times of crisis or geopolitical instability.

Furthermore, Steel Dynamics' focus on sustainable practices and environmental stewardship is important for ensuring the long-term viability of the domestic steel industry. By investing in energy-efficient technologies and minimizing its environmental impact, the company contributes to a more sustainable and resilient defense industrial base. This is crucial for national security, as it ensures that the production of steel for defense applications is conducted in a manner that is both environmentally responsible and economically sustainable.

Reliance Steel & Aluminum (NYSE: RS)

Reliance Steel & Aluminum is a large metals service center company that provides a wide range of metal processing and distribution services to customers in various industries, including aerospace, defense, and infrastructure. The company's ability to source and process a diverse range of metals makes it a valuable partner to the defense industry, which relies on specialized metals for the production of advanced weapons systems and equipment.

Reliance Steel & Aluminum's extensive network of service centers across North America provides a reliable and efficient supply chain for defense contractors. The company's ability to deliver the right materials at the right time is essential for maintaining the production schedules of critical defense programs. This ensures that the U.S. military has access to the equipment and weapons systems it needs to fulfill its missions and protect national security.

Furthermore, Reliance Steel & Aluminum's focus on value-added processing services, such as cutting, forming, and machining, helps defense contractors reduce their manufacturing costs and improve efficiency. This contributes to the affordability and competitiveness of U.S. defense systems in the global market. By providing these essential services, Reliance Steel & Aluminum plays a vital role in supporting the strength and readiness of the U.S. military.

ArcelorMittal (NYSE: MT)

ArcelorMittal is the world's leading steel and mining company, with a significant presence in the United States. The company's vast production capacity and global reach make it a critical supplier of steel to various industries, including the defense sector. ArcelorMittal's ability to produce a wide range of steel products, from basic sheet steel to specialized high-strength alloys, is essential for the manufacturing of vehicles, ships, and infrastructure.

ArcelorMittal's commitment to research and development ensures that the company remains at the forefront of steelmaking technology. This is crucial for meeting the evolving demands of the defense industry, which requires advanced materials to produce lighter, stronger, and more resilient equipment.

Furthermore, ArcelorMittal's focus on sustainability and responsible sourcing is important for ensuring the long-term viability of the steel industry and its ability to support national security needs. By minimizing its environmental impact and promoting ethical labor practices, ArcelorMittal contributes to a more sustainable and responsible defense supply chain.

MP Materials (NYSE: MP)

MP Materials owns and operates Mountain Pass, the only integrated rare earth mining and processing site in North America. Rare earth elements are essential for a wide range of technologies, including defense applications such as guidance systems, lasers, and radar. MP Materials' role in securing a domestic supply of these critical minerals is vital for reducing dependence on foreign sources, particularly China, which currently dominates the rare earth market.

The concentration of rare earth production in China poses a potential risk to national security, as it creates a vulnerability to supply chain disruptions or geopolitical tensions. MP Materials' operations at Mountain Pass contribute to diversifying the rare earth supply chain and ensuring that the U.S. has access to these critical materials for its defense needs. This reduces reliance on potentially adversarial nations and strengthens the resilience of the U.S. defense industrial base.

Furthermore, MP Materials' commitment to environmental responsibility and sustainable mining practices is important for ensuring the long-term viability of its operations and the responsible sourcing of rare earth elements. By minimizing its environmental impact and adhering to high ethical standards, MP Materials contributes to a more secure and sustainable defense supply chain.

NioCorp Developments Ltd. (NASDAQ: NB)

NioCorp Developments is focused on developing the Elk Creek Superalloy Materials Project in Nebraska, which is expected to be a significant source of niobium, scandium, and titanium. Niobium is a critical material used in the production of high-strength steel alloys, which are essential for the construction of military vehicles, aircraft, and infrastructure. Scandium is used in advanced aluminum alloys for aerospace applications, and titanium is a crucial material for aerospace and defense applications due to its strength, lightness, and corrosion resistance.

NioCorp's Elk Creek project has the potential to establish a domestic supply of these critical minerals, reducing reliance on foreign sources and strengthening the U.S. defense industrial base. By securing access to these materials, the U.S. can ensure the production of advanced military equipment and maintain its technological edge in the defense sector.

Furthermore, NioCorp's commitment to responsible mining practices and community engagement is important for ensuring the long-term sustainability of its operations and the responsible sourcing of critical minerals. By prioritizing environmental protection and working closely with local communities, NioCorp contributes to a more secure and socially responsible domestic supply chain for critical minerals used in defense applications.

By. Tom Kool

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

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. The forward-looking statements in this publication are based on current expectations and assumptions about future events, geopolitical developments, trade policies, market conditions, the company’s strategic initiatives to address the critical shortage of antimony, and current expectations, estimates, and projections about the industry and markets in which the company operates. Factors that could change or prevent these statements from coming to fruition include, but are not limited to, the potential impact of the upcoming U.S. elections on various industries and specific companies, changes in government policies, market conditions, regulatory developments, geopolitical events and the company’s ability to successfully acquire and develop new antimony resources and fluctuations in antimony prices. 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.

DISCLAIMERS

SHARE OWNERSHIP. The owner of Oilprice.com owns shares of the companies featured in this article and therefore has an incentive to see the featured companies’ stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of the featured companies in the market. The owner of Oilprice.com will be buying and selling shares of the featured companies for its own profit and may take this opportunity to liquidate a portion of its position. Accordingly, our views and opinions in this article are subject to bias, and why we stress that you should conduct your own extensive due diligence regarding the featured companies as well as seek the advice of your professional financial advisor or a registered broker-dealer before you consider investing in any securities of the featured companies or otherwise.

NOT AN INVESTMENT ADVISOR. Oilprice.com is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. You should not treat any opinion expressed herein as an inducement to make a particular investment or to follow a particular strategy, but only as an expression of opinion. The opinions expressed herein do not consider the suitability of any investment with your particular objectives or risk tolerance. Investments or strategies mentioned in this article and on our website may not be suitable for you and are not intended as recommendations.

Read this article on OilPrice.com

WHITE ROCK, BC / ACCESSWIRE / November 21, 2024 / Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company") is pleased to announce that it is undertaking a non-brokered private placement to raise up to $1,000,000 (the "Offering"). All dollar amounts in this news release are in Canadian funds.

The Offering:The Offering will consist of a combination of non-flow-through units ("NFT Units") at a price of $0.13 per NFT Unit, and flow-through shares (the "FT Shares") at a price of $0.16 per FT Share, for aggregate proceeds of up to $1,000,000. It is expected that this will comprise $750,000 of NFT Units and $250,000 of FT Shares.

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 connection with the Offering.

The Company's Chairman, Chad Williams, is expected to participate in this financing by subscribing for $250,000 of NFT Units.

Insider ParticipationCertain insiders of the Company are expected to participate in the Offering and as a result, each of the Offering and the Incentive Program may constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The Company expects to rely on the exemptions from the formal valuation requirements of MI 61-101 contained in section 5.5(a) and (b) of MI 61-101 on the basis that the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company and no securities of the Company are listed on a specified market set out in such section, and the Company further relies on the exemption from the minority shareholder approval requirements of MI 61-101 contained in Section 5.7(1)(a) of MI 61-101 on the basis of the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company.

Caution to US InvestorsThis 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 (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) 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). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

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

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEOFor more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for Investor Relations | spekar@honeybadgersilver.com | +1 (647) 498-8244.

Cautionary Note Regarding Forward-Looking InformationThis 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.

SOURCE: Honey Badger Silver Inc.

Vancouver, British Columbia–(Newsfile Corp. – November 21, 2024) – Pacific Bay Minerals Ltd (TSXV: PBM) ("Pacific Bay" or the "Company"), a mineral exploration company, is pleased to announce the completion of its field program undertaken at its 100% wholly owned, royalty-free Sphinx Mountain Rare Earth Element project, approximately 45 kilometers North of Dease Lake, British Columbia.

The project included geological mapping, prospecting, ground-based geophysics, stream-sediment samples, soil samples and rock samples covering the majority of the project's claim group. Rocks and Stream sediments have been submitted to the lab along with blanks and certified reference materials and assays are pending. Soils are awaiting to be analyzed via XRF methods.

A total of 189 soil samples, 25 Stream sediment samples, and 3 rock samples were collected. Stream and Rock samples are awaiting assay. QA/QC samples including certified reference material, field duplicates and blanks were inserted into sample intervals. Please see attached map figure for more information.

The program was intended to follow up on historic stream-sediment results returning values as high as 1.19% TREO* to give direction to future exploration activities, including airborne geophysics, and additional geological mapping and prospecting with the intent to define drill targets.

*TREO is the expressed summation of La2O3 + Ce2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3

Map Figure 1 – Map showing detailed location of the 2024 field program, including soil and stream sediment samples along with historical stream sediment results.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3362/230804_78e8ef108469788a_001full.jpg

About Pacific Bay Minerals Ltd.

Pacific Bay currently has a portfolio of properties in British Columbia, including the Haskins Reed, 30km East of the Cassiar townsite, and the newly added Sphinx Mountain Project. Short term focus will be spent on exploring these projects and identifying new targets within the highly prospective regions for both precious and transitional metals.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. David Bridge, P.Geo., a consultant of the Company, who is a "Qualified Person" as defined in NI 43-101

For more Information please contact:

Reagan Glazier, CEO, President and Director

E-mail: reagan@pacificbayminerals.com

Telephone:+1 403-815-6663

Forward-Looking Statements

This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", "intends", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward looking statements, including but not limited to the Company's expectations regarding the closing date of the Offering, the anticipated size of the Offering and other matters. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect the Company's current judgment regarding the direction of its business, actual results will may vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230804

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