Wallbridge Mining Company Limited

– Not For Distribution in the United States –

TORONTO, Nov. 21, 2024 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) is pleased to announce that it has completed a non-brokered private placement of 22,937,500 national flow-through common shares (the “National FT Shares”) and 48,844,333 Québec flow-through common shares (the “Québec FT Shares”) for aggregate gross proceeds of $6,230,990 (the “FT Share Private Placement”). The National FT Shares were issued at a price of $0.08 and the Québec FT Shares were issued at a price of $0.09.

In addition, Agnico Eagle Mines Limited (“Agnico”) subscribed for 8,598,843 common shares for aggregate gross proceeds of $601,919 (the “AEM Private Placement”, and together with the FT Share Private Placement, the “Private Placements”). The AEM Private Placement closed concurrently with the FT Share Private Placement and was undertaken pursuant to certain participation rights set out in a pre-existing participation agreement between the Company and a predecessor of Agnico. The AEM Shares will be issued at a price of $0.07.

With the net proceeds from these Private Placements the Company expects to have an estimated year end cash balance of approximately $20 million which, based on preliminary budgeting, is sufficient to fund the 2025 exploration program on the Company’s Detour-Fenelon Gold Property (the “Detour-Fenelon Gold Trend Property”) as currently contemplated. The Company will announce details of its exploration plans once board approval has been obtained.

In connection with the FT Share Private Placement, the Company paid a cash finder’s fee other than in respect of subscriptions by president’s list investors. Topleft Securities Ltd. acted as an advisor to Wallbridge in connection with the transaction. All securities issued pursuant to the Private Placements will have a four month and one day statutory hold period.

Each National FT Share and Québec FT Share (the “FT Shares”) will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and, in respect of eligible Québec resident subscribers, section 359.1 of the Taxation Act (Québec). The FT Shares will be renounced with an effective date no later than December 31, 2024, to the initial purchasers of the FT Shares in an aggregate amount not less than the gross proceeds raised.

None of the securities offered in the Private Placements have been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The FT Share Private Placement constituted a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) as certain insiders of the Company subscribed for 1,687,500 in aggregate of National FT Shares and 400,000 in aggregate of Québec FT Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the FT Share Private Placement by the insiders does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the FT Share Private Placement, which the Company deems reasonable in the circumstances in order to price and close the FT Share Private Placement in an expeditious manner. A material change report has been filed under the Company’s profile at www.sedarplus.ca, which may be sent to any shareholder upon request.

Qualified Person

The Qualified Person responsible for the technical content of this news release is Francois Chabot, Eng., Technical Studies Manager for Wallbridge.

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Québec’s Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge’s most advanced projects, Fenelon Gold (“Fenelon”) and Martiniere Gold (“Martiniere”) incorporate a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 square km exploration land package in the Northern Abitibi region of Quebec.

Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years.

For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company Limited

Brian Penny, CPA, CMACEOTel: (416) 716-8346Email: bpenny@wallbridgemining.comM: +1 416 716 8346

Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@wallbridgemining.comM: +1 289 819 3012

Cautionary Note Regarding Forward-Looking Information

The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections, and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: statements regarding the use of proceeds of the Private Placements; the Company’s exploration plans, the tax treatment of the securities issued under the FT Share Private Placement under the Income Tax Act (Canada); the timing to renounce all qualifying expenditures in favour of the subscribers (if at all); the future prospects of Wallbridge; statements regarding the results of the PEA; future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the MRE’s at the Fenelon and Martiniere properties (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes.  FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI.  Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; and failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

Cautionary Notes to United States Investors

Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC").  Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

Toronto, Ontario–(Newsfile Corp. – November 19, 2024) – Honey Badger Silver (TSXV: TUF) (OTCQB: HBEIF) will be participating in Deutsche Goldmesse Fall 2024, which will take place on November 21st and 22nd at The Westin Grand Frankfurt.

Members of the Honey Badger Silver management will be taking meetings throughout the day, and also present to an audience of European investors.

An online registration form is available, and Investors can register to attend at: Investor Registration | Deutsche Goldmesse Fall 2024

Kai Hoffmann, Managing Director of Soar Financial Partners, remarks, “Following two virtual, and six in-person events, Deutsche Goldmesse has established itself as Germany's premier investment conference in the resource space. Being from Germany myself and working solely in the junior mining space for the last 15 years, I understand what German and European investors are looking for. This is why I have focused on bringing together a selective group of impressive and diverse companies, keynote speakers, influencers, HNW investors, asset & fund managers, media partners and more. I am excited to offer this boutique event once again, exclusive to the junior mining sector.”

The Deutsche Goldmesse website is updated regularly with attending companies, keynote speakers, schedule, and other important details: www.deutschegoldmesse.com.

About Honey Badger Silver

Honey Badger Silver offers a unique investment opportunity by offering direct exposure to high-quality silver mineral assets. Focused on aggregating silver resources in established mining jurisdictions, Honey Badger Silver is positioning itself to benefit from the coming bull market in silver.  We are strategically poised for growth and appreciation.

About Deutsche Goldmesse

Deutsche Goldmesse is Germany’s premier mining investment conference, based in Frankfurt- one of Europe’s most important financial capitals. The exclusive two-day event brings together leading minds in the industry to foster new business opportunities and facilitate valuable relationships. Each edition will showcase up to 35 mining companies across various commodities and stages alongside internationally renowned keynote speakers, media personalities, and other influential figures in the industry.

Hosted by Soar Financial Partners, Deutsche Goldmesse provides a unique platform where company management can connect with a vast network of European institutional and HNW investors, retail investors, analysts, influencers, newsletter writers, media, and other local partners.

For further information:Honey Badger SilverSonyaInvestor Relations647-498-8244spekar@honeybadgersilver.comhttps://honeybadgersilver.com

With JP Morgan CEO Jamie Dimon warning Washington that China and Russia are seeking to dismantle the Western world, and “World War III has already begun”, access to critical metals that serve as the fuel of America’s military has become the most urgent issue of our time.

Critical metals will determine superpower status and global domination.

China is winning because it controls the bulk of the world’s critical metals, from mining to refining. Washington has been slow to discover domestic or friendly resources, at a time when the U.S. Army desperately needs them.

So, when a North American junior miner emerges as the owner of key critical metals properties in Europe and North America that could provide a new supply of one of these critical metals, the Western world sees hope.

The critical metal that is now poised to make or break a global superpower is antimony, and the miner is Military Metals Corp. (CSE:MILI; OTCQB:MILIF) – a little-known company that just put itself on the critical metals map through some smart strategic acquisitions.

Antimony (Sb), a critical metalloid, is a key element of the American war machine, essential for communication equipment, night vision goggles, explosives, ammunition, nuclear weapons, submarines, warships, optics, laser sighting and more, according to U.S. Army Major General (retired) James Marks.

Not only does China control nearly half of the world’s antimony production, but it also cut off antimony exports to the U.S. beginning in September this year.

The U.S. Army is Now Desperate for Antimony

China produces an astonishing ~70% of the world’s rare earth minerals and controls nearly 50% of the global antimony supply.

While China was pushing ahead at full speed, America was napping instead of discovering and developing new critical metals reserves.

Then, at the height of the trade war, China threatened to restrict the export of some rare earth minerals. It made good on that threat this year, and last: First, with Germanium and Gallium in 2023, and then with antimony in September this year.

Now, the U.S. Army has found itself short on an essential element of its military production line, just as war beckons from Europe to the Middle East. And it will need large amounts of antimony to succeed with a new push to ramp up production of artillery shells at newly launched manufacturing facilities after years of destocking.

Meanwhile, American manufacturers use more than 50 million pounds of antimony each year for fireproofing compounds, batteries, ammunition, electronics, specialty glass, and other products, according to MetalTech.

Now, it’s past time for America to stake its claims on critical metals reserves, and Military Metals (CSE:MILI; OTCQB:MILIF) is helping to do just that.

New Antimony Resources for the Coming Critical Demand Surge

Military Metals Corp. is on an antimony acquisition binge that’s taken it as far away as EU-member Slovakia, Nova Scotia in Canada and most recently in the US.

It’s planning to help retell the American antimony story by exploring new and re-developing historical venues that could chip away at China’s control over what is essentially a “military metal”.

Military Metals Corp. recently announced that it has purchased one of Europe’s largest antimony deposits in Slovakia with historical resources.  In the heart of Central Europe, it’s a promising 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, including drilling and adit excavation. 

Source: Military Metals Corp. 

At the Trojarova Antimony Project, which could turn Slovakia into a European critical minerals hub, Military Metals Corp. says that underground development of this historical resource, funded by the Slovakian government, was shuttered in the 90s “prior to reaching the richest part of the deposit”.

Back then, with the Cold War winding down, and antimony already having served its purpose as the hero of World War II, the motivation just wasn’t there.

Today, the situation is very different, and EU’S Trojarova project–with a historical resource of over 61,998 tons of antimony worth around $ 2 billion in situ value at today’s spot prices—could now become a military kingmaker.

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

But Military Metals Corp. isn’t concentrating all of its effects on a single continent: it’s also making huge moves back in North America, in Canada’s famous WWI antimony mine in Nova Scotia.

Military Metals Corp. is sitting on a recently acquired historical antimony/gold play, the West Gore Antimony Project—one of Canada’s biggest past producing antimony mine and a key supplier to the Allied Forces in WWI.

It's an impressive historical resource, with historical drilling results demonstrating over 7 meters of 10.6 gpt gold and 3.4% antimony.

It’s not stopping there, however.

On October 24th, 2024, the company pounced on another opportunity to further consolidate this territory by signing an LOI to acquire more claims flanking West Gore.

The move to consolidate territory surrounding West Gore—one of the biggest heroes of WWI—is a strategic move that could tie the junior miner directly to North American defense at a time when prices are skyrocketing.

The Antimony Land Rush is a Junior Game

This smart, fast-moving investment strategy could, according to Forbes, be the “latest to generate short-term profits of more than 100% on money invested”.

Forbes was right, even if it underestimated the returns.

Shares in junior mining stocks focused on antimony have surged recently, netting investors up to 800% returns in a very short time.

Australian ASX-listed companies were the first to light up the exchange, with shares in domestic Larvotto Resources Ltd. (ASX:LRV) surging over 800% in the past six months.

The Australian government has placed antimony on its critical metals list, and Australian traders are calling it an “antimony party”.

But compared to its closet peer, Perpetua Resources, Military Metals Corp. appears to have quite a lot of room to run, based on resource estimates and current valuation.

Perpetua is currently valued at around $700 million, with ~90,000 tons of antimony. The U.S. government is in the process of providing a $1.86 billion loan to Perpetua to have their Antimony mine in production by 2029.

Military Metals Corp. is valued at only $23 million right now; but its new play in Slovakia is valued at $2 billion in situ of ore at today’s Antimony spot prices that keeps climbing every week. And that’s only one of its new antimony acquisitions. When you add the potential of West Gore in Nova Scotia, valuations could get even more attractive.

Pricing Power on the Brink of War

Military Metals Corp. CEO Scott Eldridge sees a major antimony supply crunch coming.

He’s certainly not alone.

“An extreme supply shortage since April has led to the sharpest price rally ever recorded in the antimony market since Fastmarkets started pricing the metal back in the early 1980s,” according to the UK’s Minor Metals Trade Association (MMTA).

“The military uses of Sb [antimony] are now the tail that wags the dog. Everyone needs it for armaments so it is better to hang onto it than sell it,” Christopher Ecclestone of London-based Hallgarten & Company recently told the Financial Review, calling it a “sign of the times”.

“This will put a real squeeze on the US and European militaries,” Ecclestone added.

Germany has essentially been demilitarized, with its own defense ministry estimating it has about 2 days of ammunition if there is a war with Russia, which it expects to happen within the next few years at most. Germany and the EU have mandated 2 million artillery shells to be manufactured by the end of 2025 with a investment of 500,000,000 euros.

Indeed, antimony prices have more than tripled since earlier this year from $12,000 per ton to over $38,000.

Two major wars are already involving enemies and allies on four continents, and World War III is already underway for all intents and purposes, making Military Metals Corp.’s (CSE:MILI; OTCQB:MILIF) strategic acquisition binge a fast-moving opportunity that continues to expand with every day that China squeezes supply and America is stuck playing catch-up.

Everyone from the U.S. Department of Defense to their Western counterparts around the world is now scrambling to secure new supply, and China is determined to keep the critical mineral taps turned off as it hoards the metal necessary to shore up U.S. defenses.

Other companies that are worth keeping a close eye on:

Northrop Grumman (NYSE: NOC)

Northrop Grumman is a leading global security company providing innovative systems, products, and solutions in autonomous systems, cyber, C4ISR, space, strike, and logistics and modernization to customers worldwide. With approximately 90,000 employees, Northrop Grumman is a major player in the defense and aerospace industry. The company is known for its expertise in developing cutting-edge technology, including stealth aircraft, unmanned aerial vehicles (UAVs), and missile defense systems. Northrop Grumman is a key partner to the U.S. government and its allies, providing essential capabilities to maintain national security.

Northrop Grumman's innovative solutions are critical to addressing the evolving threats of the modern world. The company's work in areas such as cyber security and autonomous systems is helping to shape the future of warfare. Northrop Grumman's commitment to research and development ensures that its customers have access to the latest technology and capabilities. The company's global presence also allows it to support its customers around the world.

Northrop Grumman is focused on delivering value to its shareholders through a combination of organic growth and strategic acquisitions. The company is also committed to maintaining a strong balance sheet and returning capital to shareholders through dividends and share repurchases. Northrop Grumman's financial strength and commitment to shareholder value make it an attractive investment opportunity.

Boeing (NYSE: BA)

Boeing is the world's largest aerospace company and a leading manufacturer of commercial jetliners, defense, space and security systems, and global services. A major player in the global economy, Boeing employs more than 140,000 people across the United States and in more than 65 countries. Boeing's products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.

Boeing's commercial airplane business is one of the company's most important divisions. Boeing is the world's leading manufacturer of commercial airplanes, and its products are used by airlines around the world. The company's defense, space & security business is another key part of Boeing's operations. This division provides a wide range of products and services to the U.S. government and its allies.

Boeing has faced challenges in recent years, including the grounding of the 737 MAX aircraft and the COVID-19 pandemic. However, the company is committed to overcoming these challenges and continuing to deliver value to its customers and shareholders. Boeing is an iconic American company that plays a vital role in the global aerospace industry.

Rio Tinto (NYSE: RIO)

Rio Tinto, a global leader in the mining and metals sector, is known for its operational efficiency and commitment to sustainable development. The UK-Australian multinational corporation operates in around 35 countries worldwide and has significant assets across several commodities including aluminum, copper, diamonds, coal, iron ore, and uranium. Rio Tinto's robust portfolio of world-class assets is further reinforced by strong market fundamentals, especially in the copper and iron ore markets, making it an interesting proposition for potential investors.

In addition to its extensive mining operations, Rio Tinto is a leader in the implementation of cutting-edge technologies and sustainable mining practices. The company's commitment to reducing its carbon footprint and protecting the environment is evident in its various initiatives, such as investments in renewable energy and efforts to rehabilitate mining sites post-extraction. Rio Tinto's proactive approach to corporate responsibility and sustainability is an integral part of its business strategy, setting a standard for the mining industry.

BHP Group (NYSE:BHP)

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

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

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

Albemarle Corporation (NYSE:ALB)

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

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

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

L3Harris Technologies (NYSE: LHX)

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers' mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea, and cyber domains. L3Harris has approximately 48,000 employees and customers in more than 100 countries.

L3Harris Technologies is a leading provider of a wide range of products and services, including avionics, communication systems, electronic warfare systems, night vision devices, and tactical radios. The company's products are used by customers in the defense, aerospace, and government sectors. L3Harris is committed to providing its customers with innovative and reliable solutions that meet their evolving needs.

L3Harris Technologies was formed in 2019 through the merger of L3 Technologies and Harris Corporation. The merger created a leading global defense technology company with a broad portfolio of products and services. L3Harris is committed to growth and innovation, and the company is well-positioned to succeed in the rapidly changing aerospace and defense industry.

Parsons Corporation (NYSE: PSN) 

Parsons is a leading provider of solutions for critical infrastructure. The company's expertise in areas such as cybersecurity, missile defense, and space is helping to protect national security and critical infrastructure around the world. Parsons is also a leader in the development of smart cities and connected infrastructure.

Parsons faces challenges such as competition from other large engineering and construction firms. The company must continue to innovate and develop new solutions to maintain its competitive edge.

Despite these challenges, Parsons is well-positioned for future growth.

The company's strong track record, diverse portfolio of services, and commitment to innovation make it a valuable partner to governments and businesses around the world.

Energy Fuels (NYSE American: UUUU)

Energy Fuels is a leading U.S.-based uranium mining company, operating the only conventional uranium mill in the United States. They have a diverse portfolio of uranium mines and projects in key uranium districts across the Western U.S. Energy Fuels also produces vanadium, a metal used in high-strength steel alloys and aerospace applications.

This company matters because they are a crucial player in the U.S. nuclear fuel cycle. Uranium is the primary fuel for nuclear power plants, which provide a significant portion of the nation's electricity. A secure and reliable domestic supply of uranium is essential for maintaining the operation of these power plants, ensuring energy security, and reducing reliance on foreign sources of nuclear fuel.

Furthermore, Energy Fuels' role in the U.S. uranium industry is important for national security, as uranium is also a critical component in nuclear weapons. While the U.S. currently has a stockpile of uranium, maintaining a domestic uranium mining and processing capability is crucial for ensuring the long-term viability of the nation's nuclear deterrent and reducing dependence on foreign sources of this strategically important material.

Neo Performance Materials (TSX: NEO)

Neo Performance Materials is a leading global company engaged in the production and processing of advanced industrial materials, with a focus on rare earth and rare metal-based functional materials. They operate in three main segments: Magnequench, Chemicals & Oxides, and Rare Metals. Magnequench produces magnetic powders used in high-performance magnets for applications such as electric vehicles and wind turbines. Chemicals & Oxides manufactures and distributes advanced industrial materials for various uses, including catalysts, electronics, and water treatment. Rare Metals focuses on the production of specialty metals like tantalum, niobium, and gallium, which are critical for aerospace, defense, and electronics applications.

Neo Performance Materials plays a vital role in supporting national security by providing essential materials for defense and high-tech industries. Their expertise in rare earth and rare metal processing contributes to the development and production of advanced technologies used in defense applications, such as guidance systems, lasers, and communication equipment. By ensuring a reliable supply of these critical materials, Neo Performance Materials helps to strengthen the resilience of the defense industrial base and reduce reliance on foreign sources.

Aclara Resources (TSX: ARA)

Aclara Resources is a development-stage rare earth mineral resource company focused on its Penco Module project in Chile. This project has the potential to be a significant source of heavy rare earth elements, which are critical for various high-tech applications, including permanent magnets used in electric vehicles, wind turbines, and defense technologies. Aclara is committed to developing the Penco Module project in a sustainable and environmentally responsible manner, using a unique ionic clay adsorption process that minimizes environmental impact.

Aclara Resources contributes to national security by diversifying the global supply of heavy rare earth elements. These elements are essential for the production of advanced technologies used in defense applications, such as guidance systems, lasers, and communication equipment. By developing a new source of these critical minerals outside of China, which currently dominates the rare earth market, Aclara Resources helps to reduce reliance on a single supplier and strengthen the resilience of the defense industrial base.

By. James Stafford

**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.

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(Bloomberg) — BHP Group’s Australia chief said the nation can’t rely on its traditional mining export markets and is unprepared for a new era of lower-cost competitors.

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The boom in demand from China’s industrialization is now “past the period of aggressive growth,” BHP’s Australia President Geraldine Slattery said Monday in a speech in Brisbane.

BHP, the world’s biggest miner, and rival Rio Tinto Group have recently acknowledged that Chinese steel demand is plateauing. Other commodities, such as nickel — which is key to the energy transition due to its use in electric vehicles — are being pursued by countries that are “often better placed than Australia,” Slattery said, referring to costs and royalty regimes.

Nickel prices are at about half the level they were at in late 2022, thanks to a flood of supply from Indonesia, where Chinese companies have invested heavily in processing facilities.

“In this shifting world, there are many competitors aggressive in their pursuit of market share and the technology that unlocks a lower cost of supply,” Slattery added.

“The shift in the nickel market tells this story best in the recent past,” she said. “For BHP, this resulted in the difficult but necessary decision to temporarily suspend our Western Australia Nickel operations.”

Australian policymakers needed to ensure long-term competitiveness or risk losing out to countries with lower royalty regimes and lower mining costs, Slattery said. Her comments come as miners face pressure from unions seeking pay rises for Australian workers and changes to coal royalties in Queensland state hit revenue.

“The sugar hit of revenue won’t leave the state better off in the long run if investment is driven elsewhere,” she said.

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Toronto, Ontario–(Newsfile Corp. – November 18, 2024) – Honey Badger Silver (TSXV: TUF) (OTCQB: HBEIF) is pleased to announce its participation at the upcoming New Orleans Investment Conference November 20-23, 2024 at the Hilton New Orleans Riverside.

The New Orleans Investment Conference gathers some of the world’s brightest and most successful analysts and investors. This year’s event will highlight all major asset classes, including Silver Junior Mining.

About Honey Badger Silver

Honey Badger Silver offers a unique investment opportunity by offering direct exposure to high-quality silver mineral assets. Focused on aggregating silver resources in established mining jurisdictions, Honey Badger Silver is positioning itself to benefit from the coming bull market in silver. We are strategically poised for growth and appreciation.

About The New Orleans Investment Conference

The New Orleans Investment Conference is the one place where the world’s most sophisticated investors gather every year to discover new opportunities and strategies, exchange ideas, plan for the coming year and enjoy the camaraderie of like-minded individuals in America’s most fascinating and entertaining city.

Headliners at the New Orleans Conference over the last 50 years have included Lady Margaret Thatcher, former President Gerald Ford, novelist Ayn Rand, General H. Norman Schwarzkopf, Nobel Prize-winning economists Milton Friedman and F.A. Hayek, Dr. Henry Kissinger, Senator Barry Goldwater, Admiral Hyman Rickover, Louis Rukeyser, Sir John Templeton, Lord William Rees-Mogg, Charlton Heston, Jeane Kirkpatrick, Robert Bleiberg, Jack Kemp, William F. Buckley, General Colin Powell, Ron Paul and J. Peter Grace, among hundreds of other notables.

This year’s speakers line-up includes the likes of James Grant…George Gammon…Rick Rule…Danielle DiMartino Booth…Brent Johnson…Charles C.W. Cooke…Mary Katharine Ham…Jim Iuorio…Peter Boockvar…Jim Bianco…James Lavish…Adrian Day…Dave Collum…Alex Green…Bob Prechter…Tracy Shuchart…Avi Gilburt…Adam Taggart…Lawrence Lepard…Mark Skousen…Doug Casey…Tavi Costa…Peter Schiff…Lyn Alden…

…Chris Powell…Russ Gray…Robert Helms…Nick Hodge…Sean Brodrick…Lobo Tiggre…Scott McKay…Jennifer Shaigec…Mary Anne & Pam Aden…Dana Samuelson…Bill Murphy…David Morgan…Gary Alexander…Jeff Deist…Byron King…Albert Lu…Omar Ayales…Gerardo Del Real…Rich Checkan…Thom Calandra…and more, including Brien Lundin, host of this illustrious event.

Don’t miss out. Register for the 50th Annual New Orleans Investment Conference by clicking here.

For additional information, please contact:

Honey Badger SilverSonyaInvestor Relations647-498-8244spekar@honeybadgersilver.comhttps://honeybadgersilver.com

Teck Resources Ltd

VANCOUVER, British Columbia, Nov. 18, 2024 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) has been informed that the Toronto Stock Exchange (“TSX”) has accepted Teck’s notice of intention to make a normal course issuer bid to purchase its Class B subordinate voting shares (“Class B Shares”).

Under the normal course issuer bid, Teck may purchase up to 40 million Class B Shares during the period starting November 22, 2024, and ending November 21, 2025, representing approximately 7.9% of the outstanding Class B Shares, or 8.0% of the public float, as at November 8, 2024. 503,097,912 Class B Shares were issued and outstanding as at that date.

Teck will make any purchases through the facilities of the TSX, the New York Stock Exchange or other alternative trading systems in Canada and the United States, if eligible, or by such other means as may be permitted under applicable securities laws, including private agreements under an issuer bid exemption order or block purchases in accordance with applicable regulations. Purchases will generally be made at the prevailing market price, although any purchases made by way of private agreement under an applicable exemption order issued by a securities regulatory authority may be at a discount to the prevailing market price, as provided for in such exemption order.

Under the TSX rules, except pursuant to permitted exceptions, the number of Class B Shares purchased on the TSX on any given day will not exceed 296,920 Class B Shares, which is 25% of the average daily trading volume for the Class B Shares on the TSX during the six-month period ended October 31, 2024, of 1,187,683, calculated in accordance with the TSX rules. The actual number of Class B Shares to be purchased and the timing of any such purchases will generally be determined by Teck from time to time as market conditions warrant. In addition, Teck may from time to time repurchase Class B Shares under an automatic securities repurchase plan, which will enable purchases during times when Teck would typically not be permitted to purchase its shares due to regulatory or other reasons.

Consistent with its approach in previous years, Teck is making the normal course issuer bid because it believes that the market price of its Class B Shares may, from time to time, not reflect their underlying value and that the share buy-back program may provide value by reducing the number of shares outstanding at attractive prices. All repurchased shares will be cancelled.

As at November 8, 2024, during the previous normal course issuer bid, which commenced on November 22, 2023, and will end on November 21, 2024, Teck has purchased 18,062,775 Class B Shares at a weighted average purchase price of $62.75 through the facilities of the TSX, the New York Stock Exchange and alternative trading systems in both Canada and the United States. Teck sought and received approval to purchase up to 40 million Class B Shares under the previous normal course issuer bid.

Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the Unites States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). Forward-looking statements and information can be identified by statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or achieved. Forward-looking statements include statements regarding Teck’s expectations regarding the number of Class B Shares that might be purchased under the normal course issuer bid.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Factors that may cause actual results to vary include, but are not limited to, the ability to acquire Class B Shares in the market through the normal course issuer bid and in compliance with regulatory requirements, share price volatility, availability of funds to purchase shares and other risk factors impacting Teck’s business as detailed in Teck’s annual information form and in its public filings with Canadian securities administrators and the U.S. Securities and Exchange Commission. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document, except as may be required under applicable securities laws.

About TeckTeck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:Fraser PhillipsSenior Vice President, Investor Relations & Strategic Analysis604.699.4621fraser.phillips@teck.com

Media Contact:Dale SteevesDirector, External Communications236.987.7405dale.steeves@teck.com

Teck Resources Ltd

VANCOUVER, British Columbia, Nov. 15, 2024 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck”) has been named one of Canada’s Top 100 Employers for the eighth consecutive year by Mediacorp Canada’s Top Employers program, which recognizes companies for exceptional human resource programs and innovative workplace policies.

“Our people are committed to providing essential resources the world needs in a responsible manner that supports communities, the economy, and a healthy environment,” said Jonathan Price, President and CEO. “It is our employees who drive Teck’s growth, and we are committed to fostering workplaces where they can be their best and build rewarding, fulfilling careers.”

Editors at Mediacorp, Canada’s largest publisher of employment periodicals, grade employers on eight criteria, including health, financial & family benefits, community involvement, employee communications, and training and skills development.

More information on the Canada’s Top 100 Employers program can be found here: https://www.canadastop100.com/national/

Teck has also been named to the Forbes list of the World’s Best Employers in 2024.

Learn more about building a career with Teck at www.teck.com/careers.

About TeckTeck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:Fraser PhillipsSenior Vice President, Investor Relations & Strategic Analysis604.699.4621fraser.phillips@teck.com

Media Contact:Dale SteevesDirector, External Communications236.987.7405dale.steeves@teck.com

TORONTO, Nov. 14, 2024 (GLOBE NEWSWIRE) — McChip Resources Inc. (“McChip” or the “Company”) (TSX-V:MCS) announces that, on November 13, 2024 it acquired units consisting of 227,273 flow-through shares and 227,273 flow-through warrants resulting in McChip’s collective holdings of 14,046,000 shares and 660,606 warrants in the capital of Taranis Resources Inc. (the “Reporting Issuer”), a TSX-V listed company. These warrants entitle McChip to purchase flow-through shares of the Reporting Issuer as follows:

(a) 227,273 warrants are exercisable at $0.50 per share until November 13, 2026,

Immediately prior to the acquisition, McChip owned 13,818,727 Shares representing approximately 14.26% of the then issued and outstanding Shares. The recent acquisition increases McChip’s position in the Shares of the Reporting Issuer by 660,606 Shares to 14,046,000 Shares or approximately 14.26% of the current issued and outstanding Shares of the Reporting Issuer.

The securities were acquired by means of a private placement. McChip has acquired the shares for investment purposes, and may acquire further Shares, or dispose of its holding of the Shares, both as investment conditions warrant. The reporting issuer is listed on the TSX Venture Exchange under the symbol “TRO”.

About McChip McChip has had continual business operations since 1935. Prior to a name change in 1981 the company operated as Madsen Red Lake Gold Mines Limited. The company is listed on the TSX Venture Exchange , trades under the symbol MCS and has 5,710,096 common shares issued and outstanding.

For further information contact:

Edward G. Dumond Corporate Secretary McChip Resources Inc. 289 231 4765

Neither the TSX 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 news release.

Certain statements in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information contained in forward-looking statements can be identified by the use of words such as “are expected”, “is forecast”, “is targeted”, “approximately”, “plans”, “anticipates”, “projects”, “continue”, “estimate”, “believe” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. This news release contains forward-looking information regarding: (i) the expectations relating to whether a transaction will be consummated, including, without limitation, whether conditions to the consummation of the transaction will be satisfied, or the timing for completing the transaction; and (ii) expectations for the effects of the transaction or the ability of the Company to successfully achieve business objectives, including the effects of unexpected costs, liabilities or delays, and if the transaction is completed, the ability of the Company to allocate the net proceeds as stated above. Forward-looking information involves a number of known and unknown risks and uncertainties, which, if incorrect, may cause actual results to differ materially from those anticipated by the Company, including, without limitation, the risks that the transaction as described in the Agreement may not be completed and the parties may be unable to realize on the anticipated benefits of the transaction. Accordingly, readers should not place undue reliance on forward-looking information.

For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent management's discussion and analysis, as well as other public disclosure documents that can be accessed under the issuer profile of “McChip Resources Inc.” on SEDAR at www.sedar.com. The forward-looking information set forth herein reflects the Company’s reasonable expectations as at the date of this news release and is subject to change after such date. 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. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

(Bloomberg) — Soaring demand for copper will require $250 billion of investment over the next decade, helping to drive further mergers in the industry, BHP Group Ltd. Chief Executive Officer Mike Henry said.

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“New deposits in certain key or critical minerals are becoming harder to find, more expensive to develop and requiring more by way of capability to manage risk and technical capability,” Henry said in a Bloomberg Television interview. “That suggests an aggregation to scale over time and companies who are of scale, who have strong balance sheets like BHP and who have deep technical capability. Those will be the companies that will win in the decades ahead.”

Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Henry said. In July, BHP swooped to buy Filo Corp., teaming up with Lundin Mining Corp. in a $3 billion deal to gain South American copper assets.

That came after BHP in May abandoned a $49 billion takeover proposal for Anglo American Plc focused on getting access to the company’s copper mines. Under UK Takeover Panel rules, once a company has made a “no intention to offer statement,” it must walk away for the next six months. Henry declined to comment on whether BHP would make a fresh offer for Anglo.

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©2024 Bloomberg L.P.

By Melanie Burton

MELBOURNE (Reuters) – BHP Group is likely to flesh out plans next week to spend at least $7 billion over the coming years to recover more metal from the world's biggest copper mine, Escondida in Chile, investors and analysts said on Thursday.

The world's biggest listed miner will be hosting analysts and investors on a roadshow of its Escondida and Spence copper operations from Nov. 17-20. BHP did not respond to a request for comment about the presentation.

Copper is key to BHP's growth plans as an essential metal for the global transition to cleaner energy, but its annual production is set to fall by around 300,000 metric tons to 1.6 million tons by the end of the decade.

To keep output steady, BHP needs to show how it will extract more copper from diminishing ore grades at Escondida and justify higher spending, which it has estimated at between $7 billion and $12 billion over several years, according to UBS' analysis of BHP figures.

"The cost to build everything is going up. That's the reality," said Andy Forster of Argo Investments.

Those costs include a new concentrator at Escondida which analysts estimate between $5 billion and $6.5 billion alone.

BHP has estimated capital spending including exploration in the current financial year at $10 billion, rising to $11 billion on average medium term. It is unclear how much of this Chilean spend is included in that existing capital spending outlook.

"BHP has made it very public that they are still quite positive on the long term fundamentals of copper. That does mean capex and that does mean that we will have to transition to a period of incentive pricing," said RBC analyst Kaan Peker.

Peker sees copper prices trending up towards $5 a pound or higher. LME copper last traded at $8,966 a ton ($4 a pound).

There are four main ways to expand copper output in Chile: replacing the aging Los Colorados concentrator, debottlenecking its Laguna and Spence concentrators, and applying leaching technologies to unlock sulphide resources, BHP has said.

Buying Anglo American is "still BHP's best near-term option for copper," UBS said.

UK takeover laws prevent BHP from making another approach for Anglo until late this month, after it was rebuffed earlier this year.

"Anglo is making good progress with its restructuring and is expected to spin out Amplats after results in Mar/Apr-25. In our opinion, BHP (and others) are likely to re-evaluate Anglo after this," UBS said.

BHP has not ruled out a renewed bid.

(Reporting by Melanie Burton; Editing by Sonali Paul)

(Bloomberg) — Sweden’s Boliden AB is closing in on a deal to buy Lundin Mining Corp.’s two European mines, according to people familiar with the situation.

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The two companies are in advanced talks over the assets, said the people, who asked not to be identified discussing private information.

Shares of Lundin Mining increased 3.7% in Toronto on Thursday as of 3 pm.

A deal would cement Boliden’s position as one of Europe’s biggest producers of zinc, a metal mainly used in galvanizing steel, guaranteeing long-term mine supply for the company’s smelting operations in Scandinavia.

Spokespeople for Lundin and Boliden declined to comment. Deliberations are ongoing and there’s no certainty a deal will be reached, the people said.

Lundin put the two operations — Zinkgruvan in Sweden and Neves-Corvo in Portugal — up for sale earlier this year as the Vancouver-based company turns its focus to expanding in Latin America. The mines are Lundin’s oldest assets and generated about a fifth of the company’s revenue last year.

Read: Millennial Mining Heirs Bet Big on Argentine Copper

Lundin is looking to raise funds to develop copper projects in South America. The Canadian firm teamed up with BHP Group Ltd. in July to buy Filo Corp., which owns a big copper project that straddles the Argentina-Chile border. BHP will also become a partner in Lundin’s neighboring Josemaria project.

Boliden is in the process of expanding production capacity at its Odda smelter in Norway by 75% to 350,000 tons a year and is restarting production at the Tara operation — Europe’s biggest zinc mine — which had been placed on care and maintenance in part due to high costs.

Lundin’s Zinkgruvan operation, an underground mine southwest of Stockholm that has operated continuously since 1857, produced 76,349 tons of zinc last year, according to the company. Neves-Corvo produced 108,812 tons of zinc and 33,823 tons of copper.

–With assistance from Archie Hunter.

(Adds shares in third paragraph)

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©2024 Bloomberg L.P.

WHITE ROCK, BC / ACCESSWIRE / November 13, 2024 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) ("Honey Badger" or the "Company") is pleased to announce that it has incorporated a new subsidiary called Honey Badger Silver Royalty Inc. ("HBSR"). The Company will grant HBSR a 2% net smelter return royalty ("NSR") on silver production from Honey Badger's current portfolio of mineral projects.Honey Badger shareholders will own 100% of HBSR through their ownership of Honey Badger shares.

Honey Badger's CEO, Dorian L. (Dusty) Nicol, commented, "We expect HBSR to surface shareholder value by highlighting the company's inherent silver royalty holdings. Our goal is to create a compelling silver investment vehicle for what we believe will be the biggest bull silver market in history. Honey Badger continues to aggressively evaluate many silver mineral assets. Over the past few years, we have selectively acquired 7 silver-rich mineral projects in sound political jurisdictions – all in Canada at present. Our ultimate objective is to hold cash-flowing silver royalties and streams plus a substantial inventory of silver ounces in mineral deposits. This business model is innovative and unique to our knowledge."

The Honey Badger fully-owned projects from which a 2% NSR will be granted to HBSR comprise:

Containing Historic Silver Resources:

• Clear Lake project in the Yukon: Sediment-hosted deposit containing 5.5 million ounces of silver and 1.3 billion pounds of zinc, with potential to expand.

• The Sunrise Lake project in the Northwest Territory: Volcanogenic Massive Sulphide (VMS) deposit with a historic estimate of 12.6 million ounces of silver Indicated and 14.1 million ounces Inferred, together with significant gold and base metals. There is potential to expand resource.

• Yava Lake project in Nunavut: VMS located near Glencore's Hackett River Project, one of the world's largest undeveloped silver resources. Yava Lake has a historic resource of 4.5 million ounces of silver, with significant potential to expand and to discover additional deposits within the land package.

Pre-Resource, High-Grade Silver Projects

• Nanisivik Mine in Nunavut: A historical mine which produced over 20 million ounces of silver. High-grade silver targets identified within the over 100 million tonnes of massive sulphide that remains unmined on the property together with additional exploration targets within the land package.

• Plata in the Yukon: Historic high-grade silver producer, adjacent to Snowline Gold's Rogue discovery and with similar geology. High-grade gold and silver veins occur throughout the project and are interpreted to be the upper portions of a Rogue-type mineralized system.

• Groundhog in the Yukon: Located near the Ketza River gold-silver camp, high-grade silver, zinc, lead, and copper mineralization occurs on the project. There has been no geophysics or drilling done on this project, which has potential to host one or multiple silver deposits.

• Hy in the Yukon: High-grade silver, lead, zinc, and tungsten mineralization occur on this project. Little follow up work has been done to date on this project, which has potential to host one or more silver deposits.

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

SOURCE: Honey Badger Silver Inc.

View the original press release on accesswire.com

Investors with an interest in Mining – Non Ferrous stocks have likely encountered both Amerigo Resources (ARREF) and Southern Copper (SCCO). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Amerigo Resources has a Zacks Rank of #2 (Buy), while Southern Copper has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that ARREF has an improving earnings outlook. But this is just one piece of the puzzle for value investors.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

ARREF currently has a forward P/E ratio of 8.77, while SCCO has a forward P/E of 23.15. We also note that ARREF has a PEG ratio of 0.44. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. SCCO currently has a PEG ratio of 1.08.

Another notable valuation metric for ARREF is its P/B ratio of 1.82. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, SCCO has a P/B of 9.15.

These metrics, and several others, help ARREF earn a Value grade of A, while SCCO has been given a Value grade of C.

ARREF stands above SCCO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ARREF is the superior value option right now.

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Amerigo Resources Ltd. (ARREF) : Free Stock Analysis Report

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

If you want to compound wealth in the stock market, you can do so by buying an index fund. But if you pick the right individual stocks, you could make more than that. To wit, the Aurelia Metals Limited (ASX:AMI) share price is 71% higher than it was a year ago, much better than the market return of around 18% (not including dividends) in the same period. That's a solid performance by our standards! In contrast, the longer term returns are negative, since the share price is 57% lower than it was three years ago.

Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.

View our latest analysis for Aurelia Metals

Because Aurelia Metals made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Shareholders of unprofitable companies usually desire strong revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings.

Aurelia Metals actually shrunk its revenue over the last year, with a reduction of 16%. Despite the lack of revenue growth, the stock has returned a solid 71% the last twelve months. To us that means that there isn't a lot of correlation between the past revenue performance and the share price, but a closer look at analyst forecasts and the bottom line may well explain a lot.

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

ASX:AMI Earnings and Revenue Growth November 11th 2024

It's good to see that there was some significant insider buying in the last three months. That's a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. So we recommend checking out this free report showing consensus forecasts

A Different Perspective

It's good to see that Aurelia Metals has rewarded shareholders with a total shareholder return of 71% in the last twelve months. Notably the five-year annualised TSR loss of 9% per year compares very unfavourably with the recent share price performance. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. If you want to research this stock further, the data on insider buying is an obvious place to start. You can click here to see who has been buying shares – and the price they paid.

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.

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.

The board of Lundin Mining Corporation (TSE:LUN) has announced that it will pay a dividend on the 11th of December, with investors receiving $0.09 per share. This payment means that the dividend yield will be 2.6%, which is around the industry average.

Check out our latest analysis for Lundin Mining

Lundin Mining's Payment Could Potentially Have Solid Earnings Coverage

Solid dividend yields are great, but they only really help us if the payment is sustainable. The last dividend made up a very large portion of earnings and also represented 90% of free cash flows. This is usually an indication that the focus of the company is returning cash to shareholders rather than reinvesting it for growth.

Over the next year, EPS is forecast to expand by 166.7%. Under the assumption that the dividend will continue along recent trends, we think the payout ratio could be 46% which would be quite comfortable going to take the dividend forward.

TSX:LUN Historic Dividend November 10th 2024Lundin Mining's Dividend Has Lacked Consistency

Lundin Mining has been paying dividends for a while, but the track record isn't stellar. This suggests that the dividend might not be the most reliable. The annual payment during the last 8 years was $0.0882 in 2016, and the most recent fiscal year payment was $0.258. This works out to be a compound annual growth rate (CAGR) of approximately 14% a year over that time. Dividends have grown rapidly over this time, but with cuts in the past we are not certain that this stock will be a reliable source of income in the future.

Lundin Mining's Dividend Might Lack Growth

With a relatively unstable dividend, it's even more important to see if earnings per share is growing. It's encouraging to see that Lundin Mining has been growing its earnings per share at 21% a year over the past five years. EPS is growing rapidly, although the company is also paying out a large portion of its profits as dividends. If earnings keep growing, the dividend may be sustainable, but generally we'd prefer to see a fast growing company reinvest in further growth.

In Summary

In summary, while it's good to see that the dividend hasn't been cut, we are a bit cautious about Lundin Mining's payments, as there could be some issues with sustaining them into the future. In general, the distributions are a little bit higher than we would like, but we can't ignore the fact the quickly growing earnings gives this stock great potential in the future. We don't think Lundin Mining is a great stock to add to your portfolio if income is your focus.

Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. Taking the debate a bit further, we've identified 2 warning signs for Lundin Mining that investors need to be conscious of moving forward. If you are a dividend investor, you might also want to look at our curated list of high yield dividend stocks.

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.

Wallbridge Mining Company Limited

TORONTO, Nov. 06, 2024 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) today announced the results of the Phase 2 exploration drilling program at its 100% owned Martiniere gold project (“Martiniere”) which returned multiple high grade gold intercepts from three exploration targets along the Bug Lake (“BL”) deformation zone located within 500 metres (“m”) of the currently delineated mineral resource.

Highlights

Significant high grade gold intercepts returned from the Phase 2 drilling program at Martiniere include:

BL North	5.78 g/t Au over 3.9 m including 21.56 g/t Au over 0.9 m in hole MR-24-099
Horsefly	15.63 g/t Au over 11.0 m including 15.18 g/t over 2.3 m, 37.13 g/t Au over 1.8 m, 41.68 g/t Au over 1.2 m & 23.18 g/t Au over 0.8 m, and 7.24 g/t Au over 6.9 m including 17.56 g/t Au over 1.9 m & 6.88 g/t Au over 1.3 m in hole MR-24-100
Dragonfly	4.22 g/t Au over 4.5 m including 7.99 g/t Au over 1.1 m & 8.97 /t over 1.1 m in hole MR-24-0893.93 g/t Au over 6.0 m including 12.15 g/t Au over 0.9 m & 5.02 g/t Au over 2.2 m in hole MR-24-09215.02 g/t Au over 0.7 m & 206.00 g/t over 0.6 m in hole MR-24-10227.60 g/t Au over 2.3 m including 9.99 g/t Au over 0.6 m & 86.30 g/t Au over 0.7 m in hole MR-24-110

“We are very pleased with the positive results from the Martiniere Phase 2 drilling program, as this marks another significant milestone in advancing the project,” commented Brian W. Penny, Wallbridge CEO. “The phase 2 program was targeted at zones of high grade gold mineralization along the Bug Lake deformation zone that were identified as an outcome of a detailed re-interpretation of deposit geology completed as part of the Phase 1 program earlier this year (see Wallbridge news release dated July 31, 2024).

“Various high grade gold intercepts returned from the three targets (Horsefly, Bug Lake North and Dragonfly) clearly demonstrate that the limits of the Martiniere deposit remain to be fully delineated, offering a substantial resource growth opportunity through continued exploration.

“Wallbridge’s 2024 exploration results underscore the significant potential of the Martiniere project for future growth. The results of the 2024 drilling program will be incorporated into an updated mineral resource estimate, which the company plans to complete in Q1 2025. The Wallbridge team is eagerly anticipating following up on the positive results from this year’s program as we look forward into 2025,” concluded Mr. Penny.

Webinar

For additional context to this news release, join Brian W. Penny, CEO, and Mark Peterson, Senior Geological Consultant Thursday, November 7th, 2024 at 2:00 PM ET for a live webinar here.

Martiniere Phase 2 Exploration Analysis

The Martiniere Phase 2 drilling program completed in September 2024, was comprised of 22 diamond drill holes totaling 8,141 m. Together with the Phase 1 program, the company has drilled 17,140 m in 51 exploration holes at Martiniere during 2024.

Building on findings from the Phase 1 program, the strategy for the Phase 2 program was to target potential lateral and vertical extensions of gold mineralization beyond the limits of the currently defined mineral resource. Gold mineralization occurs within a northwest-southeast trending corridor of sub-parallel structures and intrusive dikes and sills that host pyritic silicification and quartz-carbonate veining. To date exploration drilling along the Bug Lake zone has delineated gold mineralization over an approximate 1,500 m by 700 m area, and to an average vertical depth of approximately 350 to 400 m below surface. The Bug Lake zone remains open to further expansion along strike to the northwest and southeast and at depth.

At the Bug Lake North target, two of three drill holes intercepted significant gold grades along the down plunge projection of a strongly mineralized shoot as it extends beyond the currently defined gold resource. At the Horsefly target, roughly 300 m to the northeast of the Bug Lake North target, drilling has likewise returned multiple high grade gold intercepts along structures related to the Martiniere North zone, with three of seven drill holes intersecting significant gold grades beginning within 40 m of surface and outboard of the currently defined mineral resource. Exploration drilling in the Dragonfly area, a satellite target located approximately 600 m southeast of Horsefly and beyond the current resource limits, returned multiple high grade gold intercepts along a zone covering an area measuring approximately 500 m long, 150 m wide, and drill-tested over a vertical depth profile of 75 to 200 m from surface. The Dragonfly zone remains open to further expansion in both directions along strike and at depth below 200 m.

Martiniere Plan View

Martiniere Plan View

Click to enlarge.

For more information including representative cross-sections, long-sections and assay summaries of complete drill holes please refer to the links below.

Martiniere Gold Project: 2024 Phase 2 Cross-Sections

Martiniere Gold Project: 2024 Phase 2 Long-Sections

Martiniere Gold Project: Q3 2024 Drill Assay Summary and Drill Hole Location Information

Martiniere Project 2024 Phase 2 Drill Assay Highlights1
			From	To	Length3	Au4
Drill Hole		VG* 2	(m)	(m)	(m)	(g/t)
BUG LAKE NORTH
	MR-24-096	No Intercepts with Metal Factor > 5 g/t Au * m
	MR-24-098		389.4	390.2	0.8	11.30
			532.1	537.8	5.7	1.88
		Including	532.1	533.4	1.3	2.39
			533.4	534.4	1.0	1.05
			534.4	535.5	1.1	3.29
			535.5	536.8	1.3	0.65
			536.8	537.8	1.0	2.06
	MR-24-099		94.0	97.1	3.1	2.91
		Including	94.0	95.1	1.1	3.97
			95.1	96.0	0.9	0.71
			96.0	97.1	1.1	3.81
			136.5	140.4	3.9	5.78
		Including	136.5	137.1	0.6	0.71
			137.1	138.0	0.9	21.56
			138.0	140.4	2.4	1.14
HORSEFLY
	MR-24-095	No Intercepts with Metal Factor > 5 g/t Au * m
	MR-24-100	*	57.8	68.8	11.0	15.63
		Including *	57.8	60.1	2.3	15.18
			60.1	62.3	2.2	0.58
			62.3	64.1	1.8	37.13
			64.1	65.9	1.8	0.42
			65.9	67.1	1.2	41.68
			67.1	68.0	0.9	0.34
			68.0	68.8	0.8	23.18
		*	114.4	121.3	6.9	7.24
		Including	114.4	115.4	1.0	2.05
		*	115.4	117.3	1.9	17.56
			117.3	119.0	1.7	2.08
		*	119.0	120.3	1.3	6.88
			120.3	121.3	1.0	1.76
MR-24-100 (cont’d)			124.4	130.0	5.6	3.70
		Including	124.4	124.9	0.5	3.18
			124.9	125.5	0.6	20.10
			125.5	127.7	2.2	0.28
			127.7	130.0	2.3	2.45
			155.0	155.5	0.5	10.80
	MR-24-101A		167.4	170.5	3.1	2.05
		Including	167.4	167.9	0.5	2.35
			167.9	168.4	0.5	0.03
			168.4	169.0	0.6	4.92
			169.0	170.0	1.0	0.32
			170.0	170.5	0.5	3.99
	MR-24-106		233.0	234.0	1.0	9.30
	MR-24-107	No Intercepts with Metal Factor > 5 g/t Au * m
	MR-24-108	No Intercepts with Metal Factor > 5 g/t Au * m
	MR-24-109		124.0	125.5	1.5	4.35
		Including	124.0	125.0	1.0	1.52
			125.0	125.5	0.5	>10
			402.0	404.0	2.0	2.89
		Including	402.0	403.0	1.0	0.48
			403.0	404.0	1.0	5.31
			473.5	476.5	3.0	3.67
		Including	473.5	475.0	1.5	6.88
			475.0	476.5	1.5	0.47
			517.0	521.5	4.5	2.62
		Including	517.0	518.5	1.5	0.46
			518.5	521.5	3.0	3.69
			558.0	573.5	15.5	1.00
		Including	558.0	559.0	1.0	2.60
			559.0	559.7	0.7	0.72
			559.7	560.5	0.8	2.85
			560.5	561.3	0.8	0.33
			561.3	562.0	0.7	1.95
			562.0	568.0	6.0	0.54
			568.0	569.0	1.0	2.34
			569.0	572.0	3.0	0.36
			572.0	573.5	1.5	1.22
DRAGONFLY
	MR-24-089		220.5	225.0	4.5	4.22
		Including	220.5	221.6	1.1	7.99
			221.6	223.9	2.3	0.15
			223.9	225.0	1.1	8.97
			294.6	295.8	1.2	5.59
	MR-24-090		143.5	144.5	1.0	10.42
			224.8	226.3	1.5	3.62
			374.6	375.9	1.3	9.38
	MR-24-091		85.5	88.0	2.5	3.03
		Including	85.5	87.0	1.5	0.59
			87.0	88.0	1.0	6.70
	MR-24-092		273.0	279.0	6.0	3.93
		Including	273.0	273.9	0.9	12.15
			273.9	275.3	1.4	1.11
			275.3	276.8	1.5	0.04
			276.8	279.0	2.2	5.02
			475.8	477.0	1.2	6.15
	MR-24-093		148.1	149.4	1.3	25.01
	MR-24-094		210.2	213.2	3.0	1.61
		Including	210.2	210.7	0.5	5.34
			210.7	212.2	1.5	0.02
			212.2	213.2	1.0	2.12
	MR-24-102	*	220.8	221.5	0.7	15.02
		*	422.8	423.4	0.6	206.00
	MR-24-103		82.5	83.2	0.7	6.67
			156.0	157.0	1.0	8.57
			170.0	171.0	1.0	6.26
	MR-24-110		79.3	80.6	1.3	>10.00
		*	143.0	145.3	2.3	27.60
		Including	143.0	143.6	0.6	9.99
		*	143.6	144.3	0.7	86.30
			144.3	145.3	1.0	2.16
BERMUDA
	MR-24-097		223.0	224.7	1.7	4.36
	MR-24-104	No Intercepts with Metal Factor > 5 g/t Au * m
	MR-24-105	No Intercepts with Metal Factor > 5 g/t Au * m
Notes
1	Highlighted assay composites have been selected based on a Metal Factor >5 gm*m and/or includes a result >5 g/t (MF = Au g/t * Interval length).
2	Asterisk * denotes visible gold (VG) observed in drill core.
3	True widths are estimated to be 60-90% of the reported core length intervals.
4	Gold results >10g/t Au are pending follow-up overlimit assay analysis. Affected composite Au grades are calculated using 10 g/t Au for the overlimit sample value.

The Martiniere project is a key component of the Company’s 830 square km Detour-Fenelon Trend property package located in Northern Abitibi, Quebec, 30 km west of the Company’s flagship Fenelon gold project and 50 km east of Canada’s largest gold mine, Agnico Eagle’s Detour Lake gold mine. Exploration and resource delineation drilling completed at Martiniere has so far intercepted multiple zones of vein-hosted gold mineralization over an approximate 1.5 km by 700 m area along the northwest-southeast trending Bug Lake Zone, and over an approximate 1.5 km by 250 m area along the northeast-southwest trending Martiniere West and Central corridor.

Wallbridge Mining Detour – Fenelon Gold Trend Properties

Wallbridge Mining Detour – Fenelon Gold Trend Properties

Quality Assurance / Quality Control

Wallbridge maintains a Quality Assurance/Quality Control ("QA/QC") program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of blanks and certified reference materials, and completion of secondary check analyses performed at a separate independent accredited laboratory. Drill core is halved and shipped in sealed bags to SGS in Val d’Or, Quebec where they are re-distributed to other SGS laboratory facilities according to the analytical method being requested by Walbridge. Gold analyses are routinely performed via fire assay with ICP-OES finish methods. For greater precision and accuracy, samples assaying 10 g/t Au or greater are re-assayed via metallic screen fire assay method or fire assay/gravimetric finish, depending on the amount of sample material remaining available. Samples containing visible gold are submitted directly for analysis by metallic screen fire assay method.

SGS Natural Resources analytical laboratories operate under a Quality Management System that conforms to the requirements of ISO/IEC 17025. All of SGS’ Canadian analytical sites are accredited by the Standards Council of Canada (SCC) for specific mineral tests listed on the scope of accreditation to the ISO/IEC 17025 standard. ISO/IEC 17025 addresses both the quality management system and the technical aspects of operating a testing laboratory. Physical sample preparation involving accredited test methods as listed on the scope of accreditation may be performed at other sites listed on the SGS Canada Inc – Natural Resources – Minerals group accreditation or at offsite sample preparation laboratories that are monitored regularly for quality control and quality assurance practices, including SGS Canada Inc, Garson, SGS Canada Inc, Val d’Or and SGS Canada Inc, Grand Falls-Windsor.

Qualified Person

The Qualified Person responsible for the technical content of this news release is Mr. Mark A. Petersen, M.Sc., P.Geo., Senior Exploration Consultant for Wallbridge.

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Québec’s Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge’s most advanced projects, Fenelon Gold (“Fenelon”) and Martiniere Gold (“Martiniere”) incorporate a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 square km exploration land package in the Northern Abitibi region of Quebec.

Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years.

Wallbridge also holds a 15.8% interest in the common shares of NorthX Nickel Corp. (formerly “Archer Exploration Corp”) subsequent to the sale of the Company’s portfolio of nickel assets in Ontario and Québec.

For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company Limited

Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@wallbridgemining.comM: +1 416 716 8346

Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@wallbridgemining.comM: +1 289 819 3012

Cautionary Note Regarding Forward-Looking Information

The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: statements regarding the results of the PEA; the potential future performance of the Common Shares; future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the MRE’s at Fenelon and Martiniere (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

Cautionary Notes to United States Investors

Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/85750a3d-7c00-48fc-a5c7-d9c39819c17f

https://www.globenewswire.com/NewsRoom/AttachmentNg/67885748-3e06-4950-a59d-8674c0fb3190

VANCOUVER, BC, Nov. 5, 2024 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") is pleased to provide an update for its 100% owned Selkirk Project.

The Selkirk Project is comprised of three properties: (a) the Keystone Property; (b) the Rift Property; and (c) the Downie Gold Property located north of Revelstoke in southeastern British Columbia (Figure 1). These three properties have been advanced by Rokmaster since 2021 with positive results generated from geological mapping, prospecting, channel sampling, and soil sampling. A field work program was completed in August 2024 on the Keystone Property and the Rift Property. Further encouraging assay results1 have been returned from the rock and soil samples collected in 2024 and are described below.

The 5,276 hectare Keystone Property is underlain by early Paleozoic sedimentary and volcanic rocks of the Index Formation. The northern extension of the mapped Akolkolex Thrust fault occurs within and proximal to the property, providing potential for orogenic-style gold mineralization. During one of the Company's first visits to the Keystone Property in 2021, a historical trench was found which exposes arsenopyrite mineralization grading 4.51 g/t Au, 274 g/t Ag, and 2.92% Zn in a grab sample. Replacement and vein-hosted sphalerite and galena mineralization has been discovered throughout the large property during later field work programs collecting grab samples (Figure 2). The 2024 field work found further high-grade silver, lead, and zinc mineralization with grab samples in two new areas of the property, termed the Western and Eastern Expansion areas, where zones of dense quartz-galena-sphalerite veining is hosted in deformed dolostone.

Table 1: Keystone Property Highlighted 2024 Rock Sample Results1

2024 Sample	Area	Easting	Northing	Pb+Zn %	Ag g/t	Pb %	Zn %	Au g/t
BD0093	Western Expansion	410605	5700759	26.07	657.0	14.61	11.46	0.107
JD03	Western Expansion	410444	5700960	7.66	177.0	7.58	0.08	0.106
BD0089	Western Expansion	410275	5701000	6.54	229.0	6.51	0.03	0.16
BD0088	Western Expansion	410309	5700931	3.95	76.7	3.77	0.18	0.034
BD0086	Western Expansion	410273	5700824	3.29	49.7	2.14	1.15	0.18
CM13	Eastern Expansion	411347	5701216	32.48	459.0	28.10	4.38	0.024
CM11	Eastern Expansion	411461	5701564	20.62	327.0	19.37	1.25	0.053
CM05	Eastern Expansion	411487	5700484	15.18	103.0	5.14	10.04	1.44
BD0082	Eastern Expansion	411677	5701290	13.68	54.5	2.91	10.77	0.029
BD0083	Eastern Expansion	411416	5701203	3.13	58.1	2.49	0.64	0.043
BD0085	Eastern Expansion	411246	5701320	2.16	27.4	2.02	0.14	0.0025
CM06	Eastern Expansion	411487	5700484	4.98	82.3	1.81	3.17	3.07

The 299 hectare Rift Property hosts the Rift Showing where grab samples collected in 2022 assayed up to 35.25% Zn, 8.60% Pb from a stratabound massive sphalerite-galena horizon in pelitic schist. The sulphide mineralization averages 1.0 metre in thickness and is exposed for approximately 25 metres of strike length in the incised creek gully of Rift Creek, before being lost under cover (Figure 3). Drillhole M-85-2 was completed in 1985 approximately 460 m east of the Rift Showing and encountered 22.21% Zn and 4.82% Pb over 1.82 m and may represent the on-strike continuity of the Rift stratiform zinc-lead massive sulphide horizon2,3. Soil sampling in 2024 tested the eastern continuation of a soil anomaly generated in 2022. Although the soil anomaly was not extended, the results give credence to the theory that the mineralization encountered in drillhole M-85-2 represents a blind extension of the massive sphalerite-galena mineralization outcropping at the Rift Showing.

The third property which was not visited in 2024 but there are plans to return in 2025 is the 1,367 hectare Downie Gold Property which covers a package of Index and Aklolkolex Formation rocks situated between the Goldstream Pluton and Long Creek Stock. The property hosts elevated gold in massive pyrrhotite-pyrite-galena mineralization associated with discordant stockwork veins and silicification in limestone rocks at the KJ Zone. In 2022, channel sample KJ6 returned 7.51 g/t Au, 616.14 g/t Ag, 7.93% Pb, and 1.72 % Zn over 3.50 meters. At the Melt Zone in the western portion of the Downie Gold Property, skarn-style massive pyrrhotite and sphalerite mineralization locally hosts elevated gold proximal to the Goldstream Pluton. In 2023, a grab sample was collected from a 3.0 m wide garnet-diopside skarn horizon assayed 0.36% tungsten which is located the northern limit of the 3.0 km long historically mapped "FIM" skarn horizon on the east side of the Downie Gold Property (Figure 4).

Exploration permits for low-impact helicopter-supported diamond drilling were applied for the Keystone and Downie Gold properties in December 2023. Both permits have now reached the final stages of the permitting process.

Footnote 1: Rock and soil samples were prepared and analyzed by MSALABS in Langley BC. Rock samples were dried, crushed to <2mm, and 250g was split and pulverized to 85% -75μm. Soil samples were dried, and 500 g was screened to 80 mesh and the minus fraction was assayed. Rock samples were analyzed for Au by fire assay of a 30 g sample with an AAS finish (MSA method FAS-111) and for 34 elements including Ag, Pb and Zn by 4-acid digestion of a 0.25 g sub-sample with ICP-ES finish (MSA method ICP-230). Overlimits by this method, including Ag >100 ppm, Pb >10,000 ppm and Zn >10,000 ppm, were re-analyzed by an ore grade 4-acid digestion single element ICP-ES method (MSA method code ICF-6xx where xx is the element). Pb values >20% were further analyzed by volumetric titration. Soil samples were analyzed for 39 elements including Au by aqua regia digestion of a 20 g sample with an ICP-ES/MS finish (MSA method IMS-128).

Footnote 2: Bellamy, J. 1985. 1985 Drilling report, Mica Project. Assessment Report for E&B Exploration. BC Assessment Report Database #14163.

Footnote 3: MacIntyre, D. 2010. Results of an Airborne VTEM and Magnetometer Geophysical Survey and Follow-up Geochemical Sampling, Columbia Belle Property, Southeast British Columbia, Canada. Assessment Report for Goldstar Minerals Inc. BC Assessment Report Database #31824.

John Mirko, President and CEO, comments:

"Every time field work is completed on the Selkirk Project, positive results are returned from these underexplored properties.  The 2024 field work was limited due to challenging market conditions but still gathered valuable information including high-grade Ag-Pb-Zn mineralization. The metal prices are actively catching up and the Selkirk project remains a fantastic opportunity for the discovery of significant mineralization"

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Eric Titley, P.Geo. who is independent of Rokmaster and who acts as Rokmaster's Qualified Person.

On Behalf of the Board of Directors of

Rokmaster Resources Corp.

John Mirko,President & Chief Executive Officer.

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

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future vents or results or otherwise.

Keystone Property (CNW Group/Rokmaster Resources Corp.)Rift Property (CNW Group/Rokmaster Resources Corp.)Downie Property (CNW Group/Rokmaster Resources Corp.)Rokmaster Resources Corp. Logo (CNW Group/Rokmaster Resources Corp.)

SOURCE Rokmaster Resources Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/05/c8133.html

• SCCO showcases robust net income growth, signaling strong operational efficiency.

• Increased net sales reflect a positive market demand and pricing for SCCO's products.

• Strategic investments in exploration and development projects indicate future growth potential.

• Market volatility and regulatory changes pose potential risks to SCCO's performance.

• Warning! GuruFocus has detected 6 Warning Signs with RBLX.

On October 31, 2024, Southern Copper Corp (NYSE:SCCO) released its 10-Q filing, providing a detailed financial snapshot of the company's performance. As an integrated producer of copper and other minerals, SCCO operates mining, smelting, and refining facilities in Peru and Mexico. The company's recent financials show a significant increase in net sales, from $2,505.6 million in Q3 2023 to $2,930.9 million in Q3 2024, and a notable rise in net income attributable to SCC, from $619.5 million to $896.7 million over the same period. These figures underscore SCCO's ability to capitalize on favorable market conditions and operational efficiencies. The following SWOT analysis delves into the strengths, weaknesses, opportunities, and threats as revealed by the latest SEC filing.

Decoding Southern Copper Corp (SCCO): A Strategic SWOT InsightStrengths

Financial Performance and Market Position: Southern Copper Corp (NYSE:SCCO) has demonstrated a robust financial performance, with a significant increase in net income attributable to SCC, from $619.5 million in Q3 2023 to $896.7 million in Q3 2024. This growth reflects the company's operational efficiency and ability to leverage its market position to capitalize on favorable pricing and demand for its products. The increase in net sales, from $2,505.6 million to $2,930.9 million over the same period, further solidifies SCCO's strength in the market. The company's financial health is also evident in its earnings per share, which rose from $0.80 to $1.15, showcasing its profitability and return on investment for shareholders.

Operational Efficiency and Cost Management: SCCO's operational efficiency is highlighted by its ability to manage operating costs and expenses effectively. Despite a slight increase in total operating costs and expenses from $1,436.4 million in Q3 2023 to $1,480.6 million in Q3 2024, the company has maintained a strong operating income of $1,450.3 million. This indicates SCCO's strategic cost management and its ability to maintain profitability even with rising costs. The company's focus on efficiency is crucial in the cyclical nature of the mining industry, where cost control is a key determinant of success.

Weaknesses

Dependence on Commodity Prices: While SCCO has benefited from favorable commodity prices, its reliance on the volatile market for copper and other metals is a weakness. The fluctuating prices of metals can significantly impact the company's financial performance, as seen in the decline of molybdenum prices, which partially offset the positive performance in Q3 2024. This dependence on commodity prices exposes SCCO to market risks that are beyond its control, potentially affecting its revenue and profitability.

Regulatory and Political Risks: Operating in multiple jurisdictions, SCCO faces regulatory and political risks that could impact its operations. Changes in mining laws, environmental regulations, and political instability in the regions where SCCO operates can pose challenges to its business model. For instance, the recent legislative changes in Mexico affecting the mining industry could introduce new restrictions and conditions that may affect SCCO's operational freedom and cost structure.

Opportunities

Strategic Exploration and Development Projects: SCCO's investment in exploration and development projects presents significant opportunities for growth. The company's initiatives, such as the Los Chancas and Michiquillay projects in Peru, demonstrate its commitment to expanding its resource base and production capabilities. These projects are expected to contribute to future production increases, enhancing SCCO's long-term prospects and ability to meet growing global demand for copper and other minerals.

Increasing Demand for Copper and Other Metals: The global transition towards renewable energy and electrification is driving demand for copper and other metals used in technology and infrastructure. SCCO, with its extensive operations and reserves, is well-positioned to capitalize on this trend. The company's ability to increase production and sales volumes, as indicated by the positive performance in Q3 2024, aligns with the market's growing needs, presenting an opportunity to further strengthen its market position.

Threats

Market Volatility and Economic Uncertainty: The cyclical nature of the mining industry means that SCCO is subject to market volatility and economic uncertainty. Fluctuations in global economic conditions, trade tensions, and other external factors can lead to unpredictable metal prices and demand, which can adversely affect SCCO's financial performance. The company must navigate these uncertainties while maintaining operational resilience and financial stability.

Environmental and Social Governance (ESG) Challenges: As environmental and social governance becomes increasingly important to investors and stakeholders, SCCO faces the challenge of meeting higher ESG standards. The company must continue to invest in sustainable practices, reduce its environmental footprint, and engage with local communities to maintain its social license to operate. Failure to address these ESG challenges could result in reputational damage and financial risks.

In conclusion, Southern Copper Corp (NYSE:SCCO) exhibits a strong financial foundation and market position, bolstered by its operational efficiency and strategic investments. However, the company must navigate the inherent risks associated with commodity price dependence, regulatory changes, and market volatility. The opportunities presented by the increasing demand for copper and strategic development projects are promising, but SCCO must remain vigilant against the threats posed by economic uncertainty and ESG challenges. Overall, SCCO's

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.

Vancouver, British Columbia–(Newsfile Corp. – October 31, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") is pleased to announce that it will be completing a corporate name change to "CleanTech Vanadium Mining Corp." and will begin trading under a new stock ticker symbol "CTV" at the start of trading on November 5, 2024 on the TSX Venture Exchange. The Company's shareholder approved the change of name on October 21, 2024.

The Company's ISIN and CUSIP numbers will change to CA18453A1012 and 18453A101, respectively.

No action is required to be taken by shareholders with respect to the name change. Outstanding share and warrant certificates are not affected by the name and ticker symbol change and do not need to be exchanged.

About Flying Nickel Mining Corp.

Flying Nickel is an exploration-stage mining company focused on vanadium and critical mineral resources. The Company owns a 100% interest in the Gibellini vanadium project with a positive BLM record of decision in Nevada, United States.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about Flying Nickel, please contact:

Suite 1610 – 409 Granville StreetVancouver, BC V6C 1T2Phone: 1.877.664.2535 / 1.877.6NICKELEmail: info@flynickel.com

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

Forward-Looking Statements and Cautionary Disclaimers

This news release may contain "forward-looking information" within the meaning of applicable securities laws. Although the Company believes considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them as the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company its securities, or its financial or operating results.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228398

Vancouver, British Columbia–(Newsfile Corp. – October 30, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) (the "Company" or "Flying Nickel") is pleased to announce that the Company has completed the arrangement previously announced by the Company on August 21, 2024 (the "Arrangement"), involving the Company, Norway House Cree Nation ("NHCN"), and 10197729 Manitoba Inc. (the "Purchaser"), a wholly owned entity of NHCN, pursuant to which, among other things, NHCN has acquired, through the Purchaser, the Company's Minago Nickel Project located in Manitoba, Canada in consideration for $8,000,000 in cash, the surrender 17,561,862 common shares in the capital of the Company ("Shares") held by NHCN, which represents all of the Shares held by NHCN, the assumption of certain royalties by the Purchaser and NHCN, the assumption of an existing option agreement by the Purchaser and NHCN, and reimbursement of certain expenses and fees incurred by the Company in connection with the Arrangement. The 17,561,862 Shares previously held by NHCN represented approximately 11.41% of the issued and outstanding Shares of Flying Nickel, and have been surrendered and cancelled. NHCN no longer holds any Shares of Flying Nickel. As previously announced on October 22, 2024 and October 25, 2024, respectively, the Arrangement was approved by the Company's shareholders at a special meeting held on October 21, 2024 (the "Meeting") and the British Columbia Supreme Court granted its final order in respect of the Arrangement on October 24, 2024.

NHCN appreciates the sale of assets to complete the historic restoration of its natural resources from Flying Nickel. This mining project, located within the Norway House Traditional Territory, will play a significant role in the long-term economic development for NHCN and the surrounding communities.

NHCN, the Purchaser, and Niel Duboff are non-Arm's Length parties to the Arrangement and the disposition under the Arrangement constitutes a Non-Arm's Length transaction as defined in TSX Venture Exchange policy.

Concurrent with the closing of the Arrangement, Neil Duboff has resigned as a director of the Company and the Company and NHCN have terminated their impact and benefit agreement dated March 3, 2023.

Further details regarding the Arrangement can be found in the Company's management information circular dated September 17, 2024 (the "Circular") in respect of the Meeting, which can be found under the Company's SEDAR+ profile at www.sedarplus.ca.

Early Warning Matters

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed under Flying Nickel's profile on SEDAR+ profile at www.sedarplus.ca containing additional information respecting the foregoing matters. To receive a copy of the report filed in respect of the above matters, please contact Jamie Kagan at jk@tdslaw.com.

About Flying Nickel

Flying Nickel is an exploration-stage mining company focused on vanadium resources. The Company owns a 100% interest in the Gibellini vanadium project in Nevada, United States.

Further information on Flying Nickel can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARDJohn LeeChief Executive Officer

For more information about Flying Nickel, please contact: Suite 1610 – 409 Granville StreetVancouver, BC V6C 1T2Phone: 1.877.664.2535 / 1.877.6NICKELEmail: info@flynickel.com

For more information about NHCN, please contact:

Norway House Cree NationP.O. Box 250, Norway HouseManitoba, R0B 1B0Telephone: (204) 934-2309Attention: Jamie KaganEmail: jk@tdslaw.com

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

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Arrangement and has neither approved nor disapproved the contents of this news release.

Forward-looking Statements and Cautionary Disclaimers

References to $ herein refer to the lawful currency of Canada.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may relate to the Company's ongoing business plan, exploration and work program.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding expectations and assumptions concerning the Arrangement, and that general business and economic conditions will not change in a material adverse manner. 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 or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of the Company with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the TSX Venture Exchange not providing final approval to the Arrangement and all required matters related thereto; changes to the Company's current and future business plans and the strategic alternatives available thereto; regulatory determinations and delays. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent financial statements and management discussion and analysis, the Circular and in the Company's other filings with the Canadian securities regulators which are available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228376

Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So, the natural question for Wallbridge Mining (TSE:WM) shareholders is whether they should be concerned by its rate of cash burn. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

Check out our latest analysis for Wallbridge Mining

When Might Wallbridge Mining Run Out Of Money?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. As at June 2024, Wallbridge Mining had cash of CA$26m and no debt. Importantly, its cash burn was CA$27m over the trailing twelve months. Therefore, from June 2024 it had roughly 11 months of cash runway. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. You can see how its cash balance has changed over time in the image below.

debt-equity-history-analysisHow Is Wallbridge Mining's Cash Burn Changing Over Time?

Wallbridge Mining didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. As it happens, the company's cash burn reduced by 43% over the last year, which suggests that management are mindful of the possibility of running out of cash. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

How Hard Would It Be For Wallbridge Mining To Raise More Cash For Growth?

While Wallbridge Mining is showing a solid reduction in its cash burn, it's still worth considering how easily it could raise more cash, even just to fuel faster growth. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Wallbridge Mining's cash burn of CA$27m is about 38% of its CA$71m market capitalisation. That's not insignificant, and if the company had to sell enough shares to fund another year's growth at the current share price, you'd likely witness fairly costly dilution.

So, Should We Worry About Wallbridge Mining's Cash Burn?

Even though its cash burn relative to its market cap makes us a little nervous, we are compelled to mention that we thought Wallbridge Mining's cash burn reduction was relatively promising. Looking at the factors mentioned in this short report, we do think that its cash burn is a bit risky, and it does make us slightly nervous about the stock. Separately, we looked at different risks affecting the company and spotted 4 warning signs for Wallbridge Mining (of which 3 are concerning!) you should know about.

Of course Wallbridge Mining may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.

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

WHITE ROCK, BC / ACCESSWIRE / October 28, 2024 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) ("Honey Badger" or the "Company") is pleased to announce that it has added, by low cost staking, additional claims at its 100%-owned Yava silver project, located in Nunavut. The objective was to increase its strategic ownership of promising silver-rich geologic targets in the immediate area of the original Yava claims.

Honey Badger's CEO, Dorian L. (Dusty) Nicol, commented, "Our new claims provide an important addition to the project's expansion potential. In addition to its historical silver resource, Yava has tremendous upside exploration potential, which we have enhanced greatly by more than tripling the size of our land position. All of our Yava claims are located near Glencore plc's (GLCNF) Hackett River project that contains a world-class silver resource of 105 million ounces of silver Indicated and 184 million ounces silver Inferred. Hackett and Yava are located on the same mineralized structure. The number of untested geophysical and geochemical anomalies within our now-enlarged land position speak to the great expansion potential on our claims. We will compile and interpret existing data on the expanded Yava project – which is an exciting new acquisition for Honey Badger – with a view to executing activities to maximize the value of this asset for our shareholders."

Yava is located 45 kms from Glencore's Hackett River Project, one of the largest undeveloped silver resources in the world. The new claims increase the Company's land position in this rich district from 1,280 hectares to 4,395 hectares. The new claims cover a number of untested magnetic and electromagnetic anomalies and silver occurrences that occur along strike and adjacent to the Yava deposit (see maps below) and add greatly to the Company's expansion potential in the district.

Yava Deposit

On October 2, 2024, the Company announced that it had purchased the Yava Project from Blue Moon Metals Inc. (see news release dated October 2, 2024). The Yava Property is in the Mackenzie Mining District, Territory of Nunavut, approximately 450 kilometers northeast of Yellowknife. The Yava Property consists of one mining lease of 1,280 hectares plus three mining claims in two blocks totaling 3,115 hectares, comprising in all 4,395 hectares.

The Yava Property envelopes four known base and precious metal occurrences mid-way along the length of the Hackett-Back River greenstone belt. The north end of this greenstone belt hosts the Hackett River base and precious metal resource currently held by Glencore. According to Xstrata's December 31, 2012, report, Hackett River's resource estimate includes 25 million indicated tons of 4.2% zinc, 0.6% lead, 0.5% copper, 130 g/t silver and 0.3 g/t gold as well as 57 million inferred tons of 3.0% zinc, 0.5% lead, 0.4% copper, 100 g/t silver and 0.2 g/t gold. This represents 105 million ounces of silver Indicated plus 184 million ounces Inferred, among the largest undeveloped deposits of silver in the world. The Nunavut government has been supportive of mining and of initiating infrastructure projects including roads and ports.

Known metal occurrences at the Yava Property, the Hackett River occurrence and the Musk occurrence are at or near the interface between uppermost felsic volcanic rocks of the greenstone belt and overlying sedimentary rocks. The Yava mining lease includes 9 km of northwest-trending strike-length along the aforementioned volcanic-sedimentary rock interface. Brascan Resources Ltd. estimated that the Yava Main Zone contains 1.3 million tons of 4.96% zinc, 1.03% copper, 1.60% lead, 3.42 oz/t silver, and 0.008 oz/t gold to a depth of 100 metres. The Yava Zone remains fully open at depth, down dip and/or down plunge and along strike.

In addition, there is significant exploration potential associated with untested geophysical and geochemical anomalies and along the favorable volcanic stratigraphy.

Comments on the Historic Mineral Resource Estimate

The historic preliminary resource estimate of 1.3Mt grading 1.03% Cu, 1.6% Pb, 4.96% Zn, 3.42 opt Ag and 0.008 opt Au (Salaken, 1976, 1977) was prepared for Brascan Resources Ltd. It is classed as a historic mineral resource estimate. A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic resource estimate cannot be relied upon. Additional work, including verification drilling / sampling and remodeling, will be required to verify the estimate as a current mineral resource. In addition, the assessment of economic viability would need to be redone using current or foreseeable metals prices, which are higher than those used in the historic estimate.

Qualified Person

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

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (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 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 capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Honey Badger Silver Inc.

View the original press release on accesswire.com

(Bloomberg) — When he was 16, Adam Lundin was lowered by helicopter into the remote wilderness of northern Canada.

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For the son of a wealthy mining mogul, this was something of an initiation. He spent the summer hunting for gold — shadowing grizzled prospectors and geologists, bushwhacking through the Boréal forest. He even dug holes for where the outhouses would go. “I just wanted to be kept busy,” he said.

Adam, 37, is now the chairman of Lundin Mining Corp., a publicly traded Canadian metals producer. His younger brother, Jack, 34, is the company’s chief executive officer. The Lundin boys, as they are known in Canada’s tight-knit mining circles, are the two middle sons of Lukas Lundin, a hard-driving magnate who inherited the business from his own father.

As the world races to build more clean energy products, many of the key companies that control vast quantities of critical minerals are family-owned, and the Lundin boys are part of a new generation taking the reins. They were groomed to inherit a commodities empire — copper, nickel and zinc mines across the Americas and Europe — along with a family fortune estimated at $7.3 billion, according to data compiled by Bloomberg News.

But unlike other mining families, the Lundins aren’t controlling shareholders. Together with their two brothers, Will and Harry, they own a collective 15.4% of Lundin Mining, making them the firm’s second-biggest shareholder.

“We’re doing this because we want to,” said Jack. “Not because we have to.”

In their twenties, Jack and Adam were put in charge of smaller outfits to test their business savvy. Jack was tasked with managing Lundin Gold Inc.’s project in Ecuador, while Adam steered Filo Corp., a copper project in Argentina. They were each appointed to boards of other Lundin-owned companies before eventually joining the upper ranks at Lundin Mining. Now, they rise at 5 a.m. most days to track European commodities markets.

Through a family trust managed out of Geneva, Switzerland, the Lundins are also top shareholders in nearly a dozen other commodities companies, including Botswana-based diamond driller Lucara Diamond Corp. and ShaMaran Petroleum Corp., an oil explorer with assets in Iraq.

Few in the industry were surprised to see Adam and Jack take over from their father, but it happened sooner than expected, after Lukas died suddenly of brain cancer in 2022. Two years later, they’re betting big on Argentina, where they’ve secured access to vast deposits of copper — putting them on the front lines of a frenzy for natural resources in the inflation-wracked country.

“As the world moves to electrify, we’re all going to need a lot more copper,” Adam said from his Vancouver office, overlooking the city’s jagged Pacific coastline. “We can play a big role in that.”

The bet on a metal in a country that has yet to really produce much of it is in keeping with tradition: The Lundins built a reputation for going to places that few others were comfortable venturing.

Adolf H. Lundin was a Swedish wildcatter who made a fortune from the 1976 discovery of a natural gas field off the coast of Qatar. In Europe’s staid commodities world, his swashbuckling business ventures brought him fame and controversy. He invested in gold projects in apartheid-era South Africa and oil drilling in Sudan while the country was ravaged by civil war. (To this day, the family’s defunct petroleum business is the subject of Sweden’s largest-ever criminal prosecution, concerning human rights abuses in Sudan.)

He was an “inveterate gambler, who always believed the riches were right around the corner,” said Pierre Lassonde, a Canadian mining financier and co-founder of Franco-Nevada Corp. “Drank his own liquor plenty,” he added.

Lukas’s brother Ian went into oil, exploring for petroleum sources in Africa and Europe. Lukas, meanwhile, helped expand the family business into mining through dealmaking that netted a sprawling portfolio of mines. He resettled to Canada in the late ‘80s, as Vancouver became a hub for mineral explorers and developers.

Appetite for adventure runs in the family — Lukas was a four-time motorcycle competitor in the Dakar rally and climbed Mount Kilimanjaro twice. Within months of his death, Jack climbed Mount Everest to pay homage. Earlier this year, he completed a 75-mile, eight-hour cycling race through British Columbia.

To build a copper mining district in Argentina, the brothers will have to navigate the raucous politics and economic vagaries of one of the more volatile countries in South America. The country’s new president, Javier Milei, has promised to ramp up resource extraction to help grow the economy.

“It’s a big bet,” said Martin Pradier, an analyst at Veritas Investment Research Corp. “They’re not just betting on this government. They’re betting on the next 10 governments.”

Mine-building is notoriously challenging, rife with uncertainty and cost overruns. Nowadays, most miners would rather acquire already-built operations than take on the risks of constructing new ones. The Argentine projects are located in the San Juan Province, a largely depopulated region defined by the Andes mountains and vast, arid desert. There are few roads and sparse access to the electrical grid. “You have to build roads, you have to get people to live at the base of the mine,” said Pradier.

The brothers have sought to manage risk with outside help. In July, they recruited BHP Group Ltd., the world’s top mining firm, to take 50% ownership of the Argentine project, forming a joint venture to build the district.

After Milei’s inauguration in January, Jack and Adam flew to Buenos Aires to meet with the new president and discuss the resource sector’s role in stabilizing a country rife with inflation and investor apprehension.

They emerged from the meeting with a selfie — Jack and Adam on either side of the new president, giving two thumbs up. And a few months later, Milei unveiled a sweeping package of tax, currency and customs benefits for major investors.

“It’s the best window I’ve seen in Argentina — ever,” said Adam.

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Written by Amy Legate-Wolfe at The Motley Fool Canada

In 2025, certain stocks and sectors on the TSX are facing notable challenges. And these are challenges investors should be aware of when considering their portfolios. Today, let’s dive into why investors should perhaps avoid some areas of the market, whereas others are set to take off.

Avoid: Algonquin Power

Algonquin Power & Utilities (TSX:AQN) has been facing significant financial difficulties, largely due to its high debt levels and underperformance. With over $8.4 billion in debt and a debt-to-equity ratio of 108.5%, the company’s financial flexibility is highly constrained​.

What’s more, its profitability metrics have been underwhelming, with a mere 1.6% return on assets (ROA) and 0.24% return on equity (ROE). This paints a bleak picture for future growth, especially in a capital-intensive industry like utilities. Despite interest rates coming down, which may alleviate some financial pressure, AQN’s debt remains a heavy burden.

The utilities sector in general is facing challenges, and AQN’s struggles are amplified by declining revenues. In its most recent earnings report, AQN posted a 4.7% year-over-year decline in revenue​. This decline, paired with the company’s high payout ratio of over 273.6%, shows that its 5% dividend yield may not be sustainable in the long term. Investors looking for reliable dividend stocks should be cautious, as AQN’s financial health could continue to deteriorate, impacting future payouts.

Avoid: Allied Properties

The commercial real estate sector, particularly office space, continues to face challenges as hybrid and remote work remain prevalent. Allied Properties REIT (TSX:AP.UN) has been hit hard by high vacancy rates, leading to a significant decline in its earnings. Its recent earnings show a staggering -89.9% profit margin​. Plus, it holds a total debt load of $4.3 billion, further compounding its problems​. As demand for office spaces declines, Allied’s future outlook remains uncertain, with its reliance on commercial properties making it vulnerable in the current market environment.

The TSX stock has struggled with effective management decisions in an environment where commercial real estate is facing long-term structural changes. Its most recent quarterly earnings reveal a 77.4% year-over-year decline in quarterly earnings growth​. The future outlook for the TSX stock remains challenging as demand for office space is unlikely to rebound quickly. Investors should be cautious about Allied’s heavy exposure to the commercial office sector – a sector that could experience prolonged difficulties even as interest rates decline.

Consider: Lundin Mining

Unlike AQN and Allied Properties, Lundin Mining (TSX:LUN) offers a much more optimistic outlook. Lundin has posted impressive growth metrics, including a staggering 84.1% increase in quarterly revenue growth year-over-year​. The TSX stock has a relatively healthy balance sheet with manageable debt levels and a current ratio of 1.5, indicating solid liquidity. Moreover, Lundin’s forward Price/Earnings (P/E) ratio of 14.9 suggests that it is attractively valued compared to peers in the mining sector​. This positions Lundin as a compelling buy for investors seeking exposure to commodities, especially given strong demand for metals.

Lundin Mining’s financial performance also stands out in terms of earnings growth. The company has seen impressive 105.7% year-over-year growth in quarterly earnings​ – a sign of strong operational efficiency and the ability to generate profits even in a volatile market. As global demand for metals remains robust, particularly for infrastructure projects and renewable energy technologies, Lundin is well-positioned to benefit from these trends.

Bottom line

When comparing the financial stability and future outlooks of these three companies, Lundin clearly emerges as the strongest option. AQN’s struggles with high debt and declining revenue, along with Allied Properties REIT’s exposure to a struggling commercial real estate market, make these stocks risky bets for 2025. In contrast, Lundin’s solid financials and growth potential, particularly in the booming mining sector, make it an attractive buy for long-term investors.

Meanwhile, investors should carefully consider the risks associated with AQN and Allied Properties REIT in 2025. Both companies face significant headwinds that could continue to weigh on their financial performance. Investors looking to navigate the TSX in 2025 should be cautious of over-leveraged and underperforming stocks like AQN and Allied Properties. All while keeping an eye on promising sectors like mining, where Lundin stands out.

The post 2 Stocks I’d Avoid in 2025 (and 1 I’d Buy) appeared first on The Motley Fool Canada.

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2024

(Bloomberg) — BHP Group and Vale SA have signed a 170 billion-real ($29.8 billion) settlement with Brazil over the deadly Mariana dam collapse in 2015 at their iron ore joint venture.

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The settlement, which includes 38 billion reais, or about $6.7 billion, of money already spent by the companies, is the largest of its kind globally, according to Brazil’s attorney general. It removes a significant legal overhang for the two mining giants, although BHP still faces a parallel class-action lawsuit in the UK tied to the disaster that involves as many as 620,000 people.

The agreement was signed in Brasilia at a ceremony attended by representatives of the two companies, their Samarco Mineracao JV and Brazilian authorities including President Luiz Inacio Lula da Silva. It follows years of protracted negotiations over reparations and damages from the disaster, when a tailings dam collapsed at Samarco’s mine in southeastern Brazil, unleashing a torrent of waste that killed as many as 19 people and contaminated waterways in Minas Gerais and Espirito Santo states.

The total includes 100 billion reais in compensation to be paid over two decades to Brazil’s federal government, the states of Minas Gerais and Espirito Santo as well as affected municipalities and communities, in addition to obligations representing about 32 billion reais, including for resettlement, environmental recovery and compensation to individuals.

The outcome represents a win for the Lula government, which took a firmer stance on negotiations after taking office in 2023.

The settlement is also positive for Vale’s new chief executive officer, Gustavo Pimenta, who inherited the task of resolving the Samarco issue when he took over the helm of the Rio de Janeiro-based company. Both Pimenta and BHP CEO Mike Henry attended the ceremony with Lula in Brasilia.

In a speech, Lula said he hoped the mining companies “have learned a lesson.”

“The money that should have been used to prevent the tragedy was used to pay dividends” to shareholders, he said. “What happened in Mariana was a matter of pure irresponsibility.”

Negotiations have been accelerating since April, with the companies and authorities presenting a series of different proposals to a Brazilian court responsible for mediating the talks. The proposed payment will be made primarily by Samarco, with Vale and BHP picking up the remainder.

The payment schedule has been one of the key points of debate, because Samarco itself is expected to be able to contribute more in future years as it recovers production capacity, reducing the burden on BHP and Vale. The companies will start paying 5 billion reais 30 days after the signing, with the largest installment of 7 billion reais to be paid in 2026.

Vale said in a filing Thursday it had increased the total set aside for the disaster to $4.7 billion, while BHP said the agreement was broadly aligned with its $6.5 billion provision for future obligations tied to the dam collapse.

The deal comes about three years after Vale struck a 38 billion reais settlement with Brazilian authorities for another tailings dam collapse near Brumadinho city, in Minas Gerais state, in 2019. That disaster killed 270 people and led to production cutbacks that stripped Vale of its ranking as world’s biggest iron ore producer. At the time, it was the largest reparation agreement ever signed in Latin America.

The settlement also comes days after hearings began in the UK lawsuit, and BHP hopes that resolving the situation in Brazil will help weaken the case. Lawyers for the claimants in English courts said on Friday that the settlement has no impact on the court case.

(Adds comments from President Lula.)

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• Cash Received from Sale: USD 7.3 billion from the sale of the steelmaking coal business.

• Shareholder Returns: USD 720 million returned in Q3 through dividends and share buybacks; over USD 1.3 billion year-to-date.

• Adjusted EBITDA: More than doubled compared to the same period last year.

• Adjusted EPS: Nearly quadrupled compared to the same period last year.

• Copper Production: 52,500 tonnes in Q3; guidance for 2024 revised to 420,000 to 455,000 tonnes.

• Zinc Net Cash Unit Cost Guidance: Improved by USD 0.10 per pound to USD 0.45 to USD 0.55 per pound.

• Debt Reduction: USD 1.5 billion reduced, including a cash tender offer and repayment of short-term loans.

• Net Cash Position: CAD 1.8 billion as of September 30.

• Cash Balance: CAD 7.8 billion as of September 30.

• Share Buyback Program: USD 3.25 billion authorized by the Board.

• Warning! GuruFocus has detected 6 Warning Sign with TECK.

Release Date: October 24, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Teck Resources Ltd (NYSE:TECK) successfully completed the sale of its steelmaking coal business, receiving USD 7.3 billion in cash.

• The company returned $720 million to shareholders through dividends and share buybacks in the third quarter, totaling over $1.3 billion year-to-date.

• Teck Resources Ltd (NYSE:TECK) achieved a consecutive record quarter in copper production, with QB operations ramping up.

• The company improved its zinc net cash unit cost guidance by $0.10 per pound, reflecting strong operational performance.

• Teck Resources Ltd (NYSE:TECK) was recognized on the Forbes list of the World’s Best Employers 2024, highlighting its positive workplace environment.

Negative Points

• Teck Resources Ltd (NYSE:TECK) experienced a fatality at its Antamina operation, prompting a thorough investigation and safety review.

• The company lowered its copper production guidance for 2024 and 2025 due to lower expected production from Highland Valley and QB operations.

• Teck Resources Ltd (NYSE:TECK) recorded a non-cash after-tax impairment charge of $828 million on its Trail operations due to challenging market conditions.

• The company faced operational challenges at QB, including lower grade ore and unplanned maintenance, impacting production.

• Teck Resources Ltd (NYSE:TECK) is closely monitoring the political situation in Mexico, which could affect its San Nicolas project.

Q & A Highlights

Q: What gives you confidence in achieving the 2025 guidance numbers after consecutive guidance cuts for 2024? A: Jonathan Price, CEO, explained that the design at QB is robust, with improvements in mill throughput expected to reach design rates by the end of 2024. The focus is on maximizing online time and improving recovery rates through testing and adjustments. The 2025 guidance range reflects some uncertainty due to the ongoing ramp-up phase, but the company is confident in achieving these targets.

Q: Is the design recovery rate of 86% to 92% for QB a revised assumption? A: Jonathan Price, CEO, confirmed that there is no revision to the design recovery rate, and it remains achievable. The company is benchmarking its ramp-up performance against other major projects and is confident in improving recoveries through ongoing testing and adjustments.

Q: What is the current status of the San Nicolas project in Mexico, and is there a possibility of reconsidering it as an underground operation? A: Jonathan Price, CEO, stated that the company is monitoring the situation in Mexico and believes that an open cut mine will deliver the best returns. The company continues to engage with authorities and stakeholders, hoping for a resolution that allows open cut mining.

Q: How will the additional work required for QB in 2025 impact costs, and is project CapEx now complete? A: Jonathan Price, CEO, confirmed that project CapEx is complete, and any additional work in 2025 will be minor and not significantly impact costs. These are preventive maintenance and minor improvements, with no significant additional capital or cost expected.

Q: Will the ramp-up delay at QB affect the timing of sanctioning other projects? A: Jonathan Price, CEO, mentioned that the remaining work at QB is expected to be completed in the first half of 2025. The company plans to sanction other projects in the second half of 2025, assuming permits and studies are completed on time.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This article first appeared on GuruFocus.

By Felix Njini

JOHANNESBURG (Reuters) -The speed at which Anglo American shifts to becoming a copper-focused miner may well dictate its ultimate fate – survival as an independent operator, or absorption by a bigger rival such as BHP Group, which earlier this year failed to buy the group.

BHP walked away from a $49 billion bid to acquire Anglo in May after it was rebuffed three times. With a six-month block on another approach set to expire at the end of November, a deal is again under scrutiny.

Anglo was able to convince investors during BHP's approach that it had a better plan to grow value, focused on shedding underperforming platinum, diamonds and coal to focus on copper, a metal key for the energy transition.

If that succeeds, the higher value that comes with copper assets may help keep Anglo safe, one portfolio manager at a Cape Town fund manager said.

But the longer it takes to achieve a transformation, the more likely it is that investors will be tempted by another bid.

Investors with shares in both companies told Reuters that even though they expect BHP CEO Mike Henry to renew his pursuit for the London-listed miner, the timing and even the rationale for such an approach could be shaped by whether Anglo can grow beyond the grasp of cash-rich rivals.

Anglo CEO Duncan Wanblad is rushing to sell coking coal mines in Australia and nickel assets in Brazil while spinning off platinum mines in South Africa. The company is also weighing whether to sell or separately list its De Beers diamonds unit.

Anglo's world-class copper assets in Latin America are the prize for rivals seeking increased exposure to copper.

But its copper mines are still dogged by operational issues. On Thursday, it said copper output declined 13% in the third quarter, though the company remains on course to meet this year's output guidance of 730,000 tons to 790,000 tons.

Anglo declined to comment. BHP did not respond to emailed requests for comment.

CHOOSING THE MOMENT

Anglo's shares rose as much as 4.3% in London on Monday amid a broad uptick in mining stocks, but have shed most of the premium they added in the wake of BHP's approach.

If Anglo's valuation takes time to catch up with its restructuring, it could present a golden opportunity for BHP.

According to a source at a top investor in both companies, a restructured Anglo creates more value for BHP, which is still wary of the risks associated with absorbing South African assets.

"If I was BHP, I would say let Anglo do most of the heavy lifting, the restructuring it promised it will do by end 2025," the source told Reuters.

Any potential new bid should come when some of the restructuring is expected to completed by June or July next year, they added.

BHP may have to wait until Anglo spins off its platinum business by mid-2025 to make the deal less complex, UBS Group analysts said. "We expect Anglo to re-rate as the group simplifies," UBS said. "If not, we see potential for another takeover approach."

Christiaan Bothma, an investment analyst at Johannesburg-based money manager Sanlam Private Wealth, which has shares in both companies, told Reuters it would "make sense" for BHP to wait for Anglo to do the asset separation for them.

But he added: "The counter argument to this would be if they wait (too) long, Anglo's valuation premium may be too high or iron ore prices too low (BHP's primary currency)."

(Reporting by Felix Njini in Johannesburg, Editing by Veronica Brown, Pratima Desai and Jan Harvey)

• Cumulative Revenue: Over $20 billion for the first nine months of 2024, a 12.5% increase compared to the same period in 2023.

• EBITDA: Increased by 17.3% for the first nine months of 2024 compared to the same period in 2023; 23% improvement on a quarterly basis.

• Net Cash Costs: MXN1.12, a more than 7% improvement versus 2023.

• Copper Production: 819,638 tons for the first nine months of 2024, a 7.1% increase compared to the same period in 2023; 10.6% increase on a quarterly basis.

• Dividend: MXN1.3 per share approved for the quarter, up from MXN1.2 last quarter, with a 4.7% implied dividend yield.

• Net Debt to EBITDA Ratio: 0.1, indicating low leverage.

• Cash and Equivalents: $7.6 billion at the end of the quarter.

• Mining Division Revenue: Over $9.4 billion for the first nine months of 2024, a 13.2% increase compared to the same period in 2023.

• Mining Division EBITDA: $5.1 billion year-to-date, 22.8% higher than 2023; 32.3% higher on a quarterly basis.

• Transportation Division Revenue: Almost $2.6 billion for the first nine months of 2024, a 7.5% increase versus the previous year.

• Infrastructure Division Revenue: Increased by over 9.1% year-over-year.

• Infrastructure Division EBITDA: Grew by almost 27% year-over-year.

• Infrastructure Division Net Income: Grew by 75% year-over-year, totaling $100 million.

• Warning! GuruFocus has detected 5 Warning Signs with MXL.

Release Date: October 23, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Grupo Mexico SAB de CV (GMBXF) reported a 12.5% increase in cumulative revenue for the first nine months of 2024 compared to the same period in 2023, driven by higher copper and byproduct volumes sold.

• The company’s EBITDA increased by 17.3% year-over-year for the first nine months of 2024, with a notable 23% improvement in quarterly results compared to the previous year.

• The mining division achieved a 13.2% increase in revenue for the first nine months of 2024, supported by higher copper, gold, and silver prices.

• Grupo Mexico SAB de CV (GMBXF) maintained a strong balance sheet with low leverage, boasting a net debt to EBITDA ratio of 0.1.

• The infrastructure division demonstrated robust performance with a 27% growth in EBITDA and a 75% increase in net income year-over-year, driven by increased revenues and traffic across various business units.

Negative Points

• The transportation division experienced an 8% decrease in EBITDA for the first nine months of 2024, attributed to network congestion and operational challenges.

• Grupo Mexico SAB de CV (GMBXF) faced a slowdown in the average train speed due to network congestion, impacting operational efficiency and increasing costs.

• The company reported a decrease in revenue from the cement and automotive segments, with a 4% and 5% decline respectively, due to reduced demand and competition.

• Southern Copper, a subsidiary, has been paying dividends partially in stock, which may indicate liquidity preservation concerns.

• The company is cautious about future capital allocation, focusing on organic growth rather than diversification, which may limit expansion opportunities.

Q & A Highlights

Q: Given the comfortable balance sheet position, how should we think about capital allocation? Are there plans for new acquisitions or changes in dividend distribution? A: Marlene Finny de la Torre, Chief Financial and Administrative Officer, stated that the focus is on organic growth rather than diversification. The company is prioritizing projects within its current divisions. Regarding dividends, they are reviewed quarterly based on cash needs and project CapEx, maintaining a solid dividend yield.

Q: Could you provide expectations for copper production and cash costs for 2024 and 2025? A: Leonardo Contreras Lerdo De Tejada, CEO of ASARCO and CFO of AMC, mentioned that for 2024, copper production is expected to be around 160,000 metric tons with cash costs before byproducts at $2.25 and after byproducts at $2.10. For 2025, production is projected at 117,500 metric tons with costs aligning with 2024 levels.

Q: What is the strategy behind Southern Copper’s hybrid dividend payments, and will this continue? A: Marlene Finny de la Torre explained that the decision for hybrid dividends is made at the Southern Copper board level, considering cash generation and upcoming maturities. The strategy aims to preserve liquidity, with a $500 million maturity due next year. Grupo Mexico plans to maintain its position in Southern Copper without selling shares received as dividends.

Q: How do you view potential changes in Mexican mining regulations and the impact on open-pit mining? A: Leonardo Contreras Lerdo De Tejada noted that any regulatory changes would likely affect new concessions. Grupo Mexico’s current projects are already within existing concessions, so they are not expected to be impacted by potential regulatory shifts.

Q: What are the cash costs before and after byproducts during the third quarter? A: Leonardo Contreras Lerdo De Tejada reported that the cash cost before byproducts was $3.40, and after byproducts, it was $3.26 during the third quarter.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This article first appeared on GuruFocus.

Southern Copper Corporation SCCO reported third-quarter 2024 earnings of $1.15 per share, which beat the Zacks Consensus Estimate of $1.12. The bottom line marked a 46% improvement from the year-ago quarter, mainly driven by higher sales volumes for copper, molybdenum, silver and zinc and higher prices for all metals (except molybdenum). SCCO’s strict cost control efforts also contributed to the earnings improvement.  SCCO reported net sales of $2.9 billion, up 17% from the year-ago quarter, driven by higher sales volumes of all its products. The figure missed the consensus estimate of $2.94 billion.

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Southern Copper’s Sales Volumes & Margins Up Y/Y in Q3

Southern Copper reported a 50.1% year-over-year surge in zinc sales volumes.  Molybdenum volumes were up 5.7%, silver volumes improved 19% and copper sales volumes were up 7.7%. The rise in sales volumes as well as higher prices for copper (10%), zinc (14.5%) and silver (24.7%) also drove the increase in sales. Meanwhile, molybdenum prices were down 8%.

The cost of sales rose 4% year over year to $1.22 billion. Total operating costs were up 3% year over year to $1.48 billion.

Southern Copper Corporation Price, Consensus and EPS SurpriseSouthern Copper Corporation Price, Consensus and EPS Surprise

Southern Copper Corporation price-consensus-eps-surprise-chart | Southern Copper Corporation Quote

Operating profit was $1.45 billion, reflecting a 36% year-over-year improvement. The operating margin was 49.5% compared with 42.7% in the year-ago quarter.

Adjusted EBITDA jumped 30.5% year over year to $1.68 billion. Adjusted EBITDA margin was 57.5%, a 600-basis point expansion from the year-ago quarter.

SCCO’s Q3 Production Details

Copper: SCCO mined 252,219 tons of copper, up 11.5% year over year. This was driven by an increase in production at  its open pit operations. Copper sales were up 7.7% year over year to 242,028 tons.

Molybdenum: The company mined 7,271 tons of molybdenum, reflecting a year-over-year improvement of 6%, driven by higher output at Cuajone, Toquepala and Buenavista mines. Molybdenum sales were 7,327 tons, a 5.7% increase from the third quarter of 2023.

Zinc: The company’s zinc production surged 91% year over year to 31,078 tons, attributed to the contribution from the new Buenavista zinc concentrator. Zinc sales jumped 50% year over year to 37,355 tons.

Silver: Southern Copper’s silver production was up 21.5% year over year to 5.34 million ounces. This was driven by growth at all its operations, with the exception of the La Caridad mine. Sales increased 19% year over year to 5.26 million ounces.

SCCO’s Cash Flow & Balance Sheet Updates

Southern Copper generated net cash from operating activities of around $1.44 billion, up from $1.05 billion in the year-ago quarter. Cash and cash equivalents were $2.65 billion at the end of the quarter compared with $1.15 billion as of the end of 2023. Long-term debt was $5.76 billion as of Sept. 30, 2024, lower than the debt balance of $6.25 billion as of Dec. 31, 2023.

SCCO made capital investments worth $792 million in the first nine-month period of 2024, which is 5.2% higher than the spending in the year-ago period.

Southern Copper Stock’s Price Performance

Shares of Southern Copper have gained 61.4% in the past year compared with the industry’s 48% growth.

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How Did SCCO’s Peer Perform in Q3?

Freeport-McMoRan Inc. FCX recorded profits (attributable to common stock) of $526 million, or 36 cents per share, in the third quarter, up around 16% from $454 million, or 31 cents, in the year-ago quarter.

Barring one-time items, adjusted earnings per share were 38 cents, missing the Zacks Consensus Estimate of 40 cents.

Freeport-McMoRan’s revenues rose roughly 17% year over year to $6,790 million. The figure surpassed the consensus estimate of $6,459.6 million. The results were driven by higher copper and gold prices in the quarter.

SCCO’s Zacks Rank & Key Picks

Southern Copper currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the Basic Materials space are IAMGOLD Corporation IAG and DuPont de Nemours, Inc. DD, both currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

IAMGOLD is scheduled to release third-quarter results on Nov. 7. The Zacks Consensus Estimate for IAG’s earnings is pegged at 11 cents per share, which indicates a turnaround performance from the loss of 1 cent per share in the year-ago quarter. It beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 200%. Its shares have risen roughly 139% in the past year.

DuPont is slated to release third-quarter results on Nov. 5. The consensus estimate for DD’s earnings is pegged at $1.03 per share, which indicates 12% year-over-year growth. DD beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 11.9%. The company's shares have gained roughly 16% in the past year.

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Teck Resources Ltd (TECK) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 22.22%. A quarter ago, it was expected that this company would post earnings of $0.47 per share when it actually produced earnings of $0.58, delivering a surprise of 23.40%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Teck Resources , which belongs to the Zacks Mining – Miscellaneous industry, posted revenues of $2.1 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.67%. This compares to year-ago revenues of $2.68 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Teck Resources shares have added about 17.2% since the beginning of the year versus the S&P 500's gain of 21.5%.

What's Next for Teck Resources?

While Teck Resources has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Teck Resources: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.38 on $1.98 billion in revenues for the coming quarter and $1.83 on $9.93 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Miscellaneous is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Materion (MTRN), another stock in the same industry, has yet to report results for the quarter ended September 2024.

This supplier of engineered materials to technology companies is expected to post quarterly earnings of $1.41 per share in its upcoming report, which represents a year-over-year change of +1.4%. The consensus EPS estimate for the quarter has been revised 18.4% lower over the last 30 days to the current level.

Materion's revenues are expected to be $426.9 million, up 5.9% from the year-ago quarter.

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