Base Metals Archives - Page 2 of 74

Teck Resources Ltd (TECK) came out with quarterly earnings of $0.56 per share, missing the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $1.32 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 $1.01 per share when it actually produced earnings of $1.02, delivering a surprise of 0.99%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Teck Resources , which belongs to the Zacks Mining – Miscellaneous industry, posted revenues of $2.96 billion for the quarter ended March 2024, missing the Zacks Consensus Estimate by 1.03%. This compares to year-ago revenues of $2.8 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 7.5% since the beginning of the year versus the S&P 500's gain of 6.3%.

What's Next for Teck Resources?

While Teck Resources has outperformed 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 $0.79 on $3.01 billion in revenues for the coming quarter and $2.87 on $11.99 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 top 37% 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.

One other stock from the same industry, Globe Specialty Metals (GSM), is yet to report results for the quarter ended March 2024.

This producer of silicon metal and silicon-based alloys is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -140%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Globe Specialty Metals' revenues are expected to be $343.45 million, down 14.3% from the year-ago quarter.

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Zacks Investment Research

(Adds details on copper production, CEO and analyst comments in paragraph 2 through 10)

April 25 (Reuters) – Canadian miner Teck Resources missed first-quarter profit estimates on Thursday, pulled down partly by lacklustre steelmaking coal sales volumes and lower zinc prices.

Teck, one of the leading producers of steelmaking coal, last year announced the

sale

of the business to Swiss miner Glencore Plc, and said it was shifting its strategy towards building its copper business.

The miner reported a 74% rise in copper production at 99,000 tonnes in the first quarter, helped by ramp-up in output at its Quebrada Blanca (QB) mine in Chile.

"We had strong first quarter performance…with steadily increasing quarterly copper production as QB ramp-up advances," CEO Jonathan Price said in a statement.

The company reiterated full-year copper production of between 465,000 tonnes and 540,000 tonnes, above 296,500 tonnes produced in 2023.

All outstanding major construction at QB operations was completed and the molybdenum plant will be ramped up in the second quarter, it added.

"The investment case for Teck is very much dependent on the company hitting the revised ramp-up timeline and capex guidance at QB2..the completion of construction and reiterated guidance is encouraging," as per Jefferies analysts.

Steelmaking coal production in the first quarter came in at 6 million tons, the same levels seen in the year-ago period, impacted by extreme freezing temperatures in mid-January that resulted in frozen plant components and unplanned downtime.

Teck's first-quarter steelmaking coal sales were 5.9 million tons, compared with 6.2 million tons last year.

The Vancouver-based company reported an adjusted profit of C$0.75 per share, for the quarter ended March 31, compared with analysts' average estimate of C$0.85 per share, according to LSEG data.

(Reporting by Mrinalika Roy, Tanay Dhumal and Nilutpal Timsina in Bengaluru; Editing by Savio D'Souza, Sherry Jacob-Phillips and Eileen Soreng)

By Mrinalika Roy

(Reuters) -Canadian miner Teck Resources reported a 74% rise in quarterly copper production on Thursday, helped by a ramp-up at its Quebrada Blanca (QB) mine in Chile, sending its shares up 6%.

Teck last year announced the sale of its coal business to Swiss miner Glencore Plc as it looks to build its copper business.

"We had strong first quarter performance…with steadily increasing quarterly copper production as QB ramp-up advances," CEO Jonathan Price said in a statement.

The company produced 99,000 tonnes of copper in the first quarter and reaffirmed its full-year production guidance of 465,000 to 540,000 tonnes, above 296,500 tonnes produced in 2023.

All outstanding major construction at QB operations was completed and the molybdenum plant will be ramped up in the second quarter, it added.

"Proposed BHP Group offer for Anglo American highlights appetite for major mining companies to add copper to their portfolios and following sale of the coal business, we believe Teck's portfolio of copper assets remains an attractive target," NBCFM analyst Shane Nagle said.

Teck's first-quarter steelmaking coal sales were 5.9 million tons, compared with 6.2 million tons last year.

The Vancouver-based company reported an adjusted profit of C$0.75 per share, for the quarter ended March 31, compared with analysts' average estimate of C$0.85 per share, according to LSEG data.

(Reporting by Mrinalika Roy, Tanay Dhumal and Nilutpal Timsina in Bengaluru; Editing by Savio D'Souza, Sherry Jacob-Phillips and Eileen Soreng)

Teck Resources Ltd

Increasing copper production with QB ramp-up and completion of all major construction

VANCOUVER, British Columbia, April 25, 2024 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (Teck) today announced its unaudited first quarter results for 2024.

"All outstanding major construction at our QB operation was completed in the first quarter, including the shiploader and molybdenum plant, and we marked the first shipment of concentrate from the completed port facility," said Jonathan Price, President and CEO. "We had strong first quarter performance across our business, generating $1.7 billion of Adjusted EBITDA1 with steadily increasing quarterly copper production as QB ramp-up advances, and we continued to return cash to shareholders."

Highlights

Adjusted EBITDA1 of $1.7 billion in Q1 2024 was driven by strong prices for steelmaking coal and copper, partly offset by lower zinc prices and lower steelmaking coal sales volumes. Profit from continuing operations before taxes was $741 million in Q1 2024.
Adjusted profit from continuing operations attributable to shareholders1 was $392 million, or $0.76 per share, in Q1 2024. Profit from continuing operations attributable to shareholders was $343 million, $0.66 per share, in Q1 2024.
Our liquidity as at April 24, 2024 is $7.1 billion, including $1.6 billion of cash. Excluding the payment of income taxes of $1.3 billion, primarily related to prior years that was anticipated, we generated cash flows from operations of $1.4 billion in Q1, ending the first quarter with a cash balance of $1.3 billion.
We returned a total of $145 million to shareholders in the first quarter through the purchase of $80 million of Class B subordinate voting shares pursuant to our normal course issuer bid, and $65 million paid to shareholders as dividends.
Copper production increased 74% to 99,000 tonnes in the first quarter, with QB producing 43,300 tonnes. QB production was higher than the fourth quarter of 2023, as the operation continues to ramp-up. Average copper prices were US$3.83 per pound in the first quarter and following quarter end, spot copper prices reached two year highs, trading in excess of US$4.40 per pound.
At QB, construction was completed and demobilization of the construction workforce was substantially advanced by the end of the quarter. We successfully loaded our first vessel using the shiploader, and the molybdenum plant will be ramped-up in the second quarter of 2024.
Zinc in concentrate production increased by 10% to 159,800 tonnes in the first quarter, and sales from Red Dog of 84,600 tonnes were within our previously disclosed guidance.
Our steelmaking coal business unit generated $1.4 billion in gross profit before depreciation and amortization1 in Q1, with sales volumes of 5.9 million tonnes and an average realized steelmaking coal price of US$297 per tonne.
We closed the sale of the 20% minority interest in Elk Valley Resources (EVR), our steelmaking coal business, to Nippon Steel Corporation (NSC) on January 3, 2024, with NSC exchanging its 2.5% interest in Elkview Operations, paying US$1.3 billion in cash on closing, plus US$0.4 billion to be paid to Teck from EVR cash flows. Also, on January 3, 2024, POSCO exchanged its 2.5% interest in Elkview Operations and its 20% interest in the Greenhills joint venture for a 3% interest in EVR.

Note:1. This is a non-GAAP financial measure or ratio. See “Use of Non-GAAP Financial Measures and Ratios” for further information.

Financial Summary Q1 2024

Financial Metrics(CAD$ in millions, except per share data)	Q1 2024		Q1 2023
Revenue	$	3,988	$	3,785
Gross profit	$	1,289	$	1,666
Gross profit before depreciation and amortization1	$	1,919	$	2,089
Profit from continuing operations before taxes	$	741	$	1,856
Adjusted EBITDA1	$	1,693	$	1,972
Profit from continuing operations attributable to shareholders	$	343	$	1,166
Adjusted profit from continuing operations attributable to shareholders1	$	392	$	930
Basic earnings per share from continuing operations	$	0.66	$	2.27
Diluted earnings per share from continuing operations	$	0.65	$	2.23
Adjusted basic earnings per share from continuing operations1	$	0.76	$	1.81
Adjusted diluted earnings per share from continuing operations1	$	0.75	$	1.78

Note:1. This is a non-GAAP financial measure or ratio. See “Use of Non-GAAP Financial Measures and Ratios” for further information.

Key Updates

Executing on Our Copper Growth Strategy

Construction of QB was completed and demobilization of contractors was substantially advanced at the end of the quarter.
We successfully loaded our first vessel of QB concentrate using the shiploader, and the molybdenum plant will be ramped-up in the second quarter of 2024.
Our QB2 project capital cost guidance is unchanged at US$8.6–$8.8 billion.
Copper production at QB was 43,300 tonnes during the first quarter, an increase from the fourth quarter as ramp-up continues. Our previously disclosed annual production and unit cost guidance for QB is unchanged.
We continued to advance our industry-leading copper growth portfolio, with a focus on completing feasibility studies, advancing detailed engineering work, project execution planning and progressing permitting, particularly at the HVC Mine Life Extension, San Nicolás and Zafranal.

Safety and Sustainability Leadership

Our High-Potential Incident Frequency rate was 0.06 in the first quarter, lower than the same period in 2023.
We released our 23rd annual Sustainability Report, outlining Teck’s 2023 sustainability performance, including progress in areas such as decarbonization, diversity and working towards a nature positive future.

Guidance

There has been no change to our previously disclosed guidance. Our guidance is outlined in summary below and our usual guidance tables, including three-year production guidance, can be found on pages 25 – 29 of Teck’s first quarter results for 2024 at the link below.

2024 Guidance – Summary	Current
Production Guidance
Copper (000’s tonnes)	465 – 540
Zinc (000’s tonnes)	565 – 630
Refined zinc (000’s tonnes)	275 – 290
Steelmaking coal (million tonnes)	24.0 – 26.0
Sales Guidance – Q2 2024
Red Dog zinc in concentrate sales (000’s tonnes)	50 – 60
Steelmaking coal sales (million tonnes)	6.0 – 6.4
Unit Cost Guidance
Copper net cash unit costs (US$/lb.)1	1.85 – 2.25
Zinc net cash unit costs (US$/lb.)1	0.55 – 0.65
Steelmaking coal adjusted site cash cost of sales (CAD$/tonne)1	95 – 110
Steelmaking coal transportation costs (CAD$/tonne)	47 – 51

Note:1. This is a non-GAAP financial measure or ratio. See “Use of Non-GAAP Financial Measures and Ratios” for further information.

Click here to view Teck’s full first quarter results for 2024.

WEBCAST

Teck will host an Investor Conference Call to discuss its Q1/2024 financial results at 11:00 AM Eastern time, 8:00 AM Pacific time, on April 25, 2024. A live audio webcast of the conference call, together with supporting presentation slides, will be available at our website at www.teck.com. The webcast will be archived at www.teck.com.

Reference:

Fraser Phillips, Senior Vice President, Investor Relations and Strategic Analysis: 604.699.4621

Chris Stannell, Public Relations Manager: 604.699.4368

USE OF NON-GAAP FINANCIAL MEASURES AND RATIOS

Our annual financial statements are prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (IASB). Our interim financial results are prepared in accordance with IAS 34, Interim Financial Reporting (IAS 34). This document refers to a number of non-GAAP financial measures and non-GAAP ratios, which are not measures recognized under IFRS Accounting Standards and do not have a standardized meaning prescribed by IFRS Accounting Standards or by Generally Accepted Accounting Principles (GAAP) in the United States.

The non-GAAP financial measures and non-GAAP ratios described below do not have standardized meanings under IFRS Accounting Standards, may differ from those used by other issuers, and may not be comparable to similar financial measures and ratios reported by other issuers. These financial measures and ratios have been derived from our financial statements and applied on a consistent basis as appropriate. We disclose these financial measures and ratios because we believe they assist readers in understanding the results of our operations and financial position and provide further information about our financial results to investors. These measures should not be considered in isolation or used as a substitute for other measures of performance prepared in accordance with IFRS Accounting Standards.

Adjusted profit from continuing operations attributable to shareholders – For adjusted profit from continuing operations attributable to shareholders, we adjust profit from continuing operations attributable to shareholders as reported to remove the after-tax effect of certain types of transactions that reflect measurement changes on our balance sheet or are not indicative of our normal operating activities.

EBITDA – EBITDA is profit before net finance expense, provision for income taxes, and depreciation and amortization.

Adjusted EBITDA – Adjusted EBITDA is EBITDA before the pre-tax effect of the adjustments that we make to adjusted profit from continuing operations attributable to shareholders as described above.

Adjusted profit from continuing operations attributable to shareholders, EBITDA and Adjusted EBITDA highlight items and allow us and readers to analyze the rest of our results more clearly. We believe that disclosing these measures assists readers in understanding the ongoing cash-generating potential of our business in order to provide liquidity to fund working capital needs, service outstanding debt, fund future capital expenditures and investment opportunities, and pay dividends.

Adjusted basic earnings per share from continuing operations – Adjusted basic earnings per share from continuing operations is adjusted profit from continuing operations attributable to shareholders divided by average number of shares outstanding in the period.

Adjusted diluted earnings per share from continuing operations – Adjusted diluted earnings per share from continuing operations is adjusted profit from continuing operations attributable to shareholders divided by average number of fully diluted shares in a period.

Gross profit before depreciation and amortization – Gross profit before depreciation and amortization is gross profit with depreciation and amortization expense added back. We believe this measure assists us and readers to assess our ability to generate cash flow from our business units or operations.

Unit costs – Unit costs for our steelmaking coal operations are total cost of goods sold, divided by tonnes sold in the period, excluding depreciation and amortization charges. We include this information as it is frequently requested by investors and investment analysts who use it to assess our cost structure and margins and compare it to similar information provided by many companies in the industry.

Adjusted site cash cost of sales – Adjusted site cash cost of sales for our steelmaking coal operations is defined as the cost of the product as it leaves the mine excluding depreciation and amortization charges, outbound transportation costs and any one-time collective agreement charges and inventory write-down provisions.

Total cash unit costs – Total cash unit costs for our copper and zinc operations includes adjusted cash costs of sales, as described below, plus the smelter and refining charges added back in determining adjusted revenue. This presentation allows a comparison of total cash unit costs, including smelter charges, to the underlying price of copper or zinc in order to assess the margin for the mine on a per unit basis.

Net cash unit costs – Net cash unit costs of principal product, after deducting co-product and by-product margins, are also a common industry measure. By deducting the co- and by-product margin per unit of the principal product, the margin for the mine on a per unit basis may be presented in a single metric for comparison to other operations.

Adjusted cash cost of sales – Adjusted cash cost of sales for our copper and zinc operations is defined as the cost of the product delivered to the port of shipment, excluding depreciation and amortization charges, any one-time collective agreement charges or inventory write-down provisions and by-product cost of sales. It is common practice in the industry to exclude depreciation and amortization, as these costs are non-cash, and discounted cash flow valuation models used in the industry substitute expectations of future capital spending for these amounts.

Adjusted site cash cost of sales per tonne – Adjusted site cash cost of sales per tonne is a non-GAAP ratio comprised of adjusted site cash cost of sales divided by tonnes sold. There is no similar financial measure in our consolidated financial statements with which to compare.

Profit from Continuing Operations Attributable to Shareholders and Adjusted Profit from Continuing Operations Attributable to Shareholders

	Three months ended March 31,
(CAD$ in millions)		2024			2023

Profit from continuing operations attributable to shareholders	$	343		$	1,166
Add (deduct) on an after-tax basis:
QB2 variable consideration to IMSA and ENAMI		10			2
Environmental costs		(17	)		13
Inventory write-downs		19			—
Share-based compensation		27			18
Commodity derivatives		2			(4	)
Gain on disposal or contribution of assets		(6	)		(186	)
Elkview business interruption claim		—			(68	)
Other		14			(11	)

Adjusted profit from continuing operations attributable to shareholders	$	392		$	930

Basic earnings per share from continuing operations	$	0.66		$	2.27
Diluted earnings per share from continuing operations	$	0.65		$	2.23
Adjusted basic earnings per share from continuing operations	$	0.76		$	1.81
Adjusted diluted earnings per share from continuing operations	$	0.75		$	1.78

Reconciliation of Basic Earnings per share from Continuing Operations to Adjusted Basic Earnings per share from Continuing Operations

	Three months ended March 31,
(Per share amounts)		2024			2023

Basic earnings per share from continuing operations	$	0.66		$	2.27
Add (deduct):
QB2 variable consideration to IMSA and ENAMI		0.02			—
Environmental costs		(0.03	)		0.03
Inventory write-downs		0.04			—
Share-based compensation		0.05			0.03
Commodity derivatives		—			(0.01	)
Gain on disposal or contribution of assets		(0.01	)		(0.36	)
Elkview business interruption claim		—			(0.13	)
Other		0.03			(0.02	)

Adjusted basic earnings per share from continuing operations	$	0.76		$	1.81

Reconciliation of Diluted Earnings per share from Continuing Operations to Adjusted Diluted Earnings per share from Continuing Operations

	Three months ended March 31,
(Per share amounts)		2024			2023

Diluted earnings per share from continuing operations	$	0.65		$	2.23
Add (deduct):
QB2 variable consideration to IMSA and ENAMI		0.02			—
Environmental costs		(0.03	)		0.03
Inventory write-downs		0.04			—
Share-based compensation		0.05			0.03
Commodity derivatives		—			(0.01	)
Gain on disposal or contribution of assets		(0.01	)		(0.36	)
Elkview business interruption claim		—			(0.13	)
Other		0.03			(0.01	)

Adjusted diluted earnings per share from continuing operations	$	0.75		$	1.78

Reconciliation of EBITDA and Adjusted EBITDA

	Three months ended March 31,
(CAD$ in millions)		2024			2023

Profit from continuing operations before taxes	$	741		$	1,856
Finance expense net of finance income		231			30
Depreciation and amortization		630			423

EBITDA		1,602			2,309

Add (deduct):
QB2 variable consideration to IMSA and ENAMI		20			2
Environmental costs		(29	)		17
Inventory write-downs		41			—
Share-based compensation		35			22
Commodity derivatives		2			(6	)
Gain on disposal or contribution of assets		(8	)		(258	)
Elkview business interruption claim		—			(102	)
Other		30			(12	)

Adjusted EBITDA	$	1,693		$	1,972

Reconciliation of Gross Profit Before Depreciation and Amortization

	Three months ended March 31,
(CAD$ in millions)		2024			2023

Gross profit	$	1,289		$	1,666
Depreciation and amortization		630			423

Gross profit before depreciation and amortization	$	1,919		$	2,089

Reported as:
Copper
Quebrada Blanca	$	66		$	(1	)
Highland Valley Copper		112			136
Antamina		197			230
Carmen de Andacollo		(4	)		12
Other		—			(4	)
		371			373
Zinc
Trail Operations		25			36
Red Dog		108			127
Other		(7	)		10
		126			173
Steelmaking coal		1,422			1,543

Gross profit before depreciation and amortization	$	1,919		$	2,089

CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “should”, “believe” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this news release.

These forward-looking statements include, but are not limited to, statements concerning: our focus and strategy; anticipated global and regional supply, demand and market outlook for our commodities; execution of the planned separation of Teck’s base metals and steelmaking coal businesses, including the ability to satisfy the closing conditions and expected timing of the closing of the Glencore transaction; our expectations regarding the ramp-up of the QB2 project, including the molybdenum plant and port facilities, and our ability to increase production each quarter in 2024; QB2 capital cost guidance and expectations for capitalized ramp-up costs; expectations regarding inflationary pressures and our ability to manage controllable operating expenditures; expectations regarding future remediation costs at our operations and closed operations; timing of and our ability to implement a solution related to water restrictions at Carmen de Andacollo operations; expectations with respect to execution of our copper growth strategy, including the timing and occurrence of any sanction decisions and prioritization of growth capital; expectations regarding permitting strategies and debottlenecking opportunities at our QB Operations; expectations regarding advancement of copper growth portfolio, including advancement of study, permitting, execution planning, and engineering work, community and Indigenous engagement, and completion of updated cost estimates at our San Nicolás, Zafranal, HVC Mine Life Extension, QB Asset Expansion, and Galore Creek projects, as applicable; our ability to implement the Elk Valley Water Quality Plan and other water quality initiatives; expectations for stabilization and reduction of the selenium trend in the Elk Valley; expectations for total water treatment capacity; and further reductions of selenium in the Elk Valley watershed and the Koocanusa Reservoir; projected spending, including capital and operating costs in 2024 and later years on water treatment, water management and incremental measures associated with the Direction; timing of advancement and completion of key water treatment projects; our expectation that we will increase our water treatment capacity to 150 million litres per day by the end of 2026; expectations regarding engagement with U.S. regulators on water quality standards; expectations regarding finance and general and administration expenses in 2024; expectations regarding timing and amount of income tax payments and our effective tax rate; liquidity and availability of borrowings under our credit facilities; our ability to obtain additional credit for posting security for reclamation at our sites; all guidance appearing in this document including but not limited to the production, sales, cost, unit cost, capital expenditure, capitalized stripping, and other guidance under the headings “Guidance” and "Outlook" and as discussed elsewhere in the various business unit sections; our expectations regarding inflationary pressures and increased key input costs; and expectations regarding the adoption of new accounting standards and the impact of new accounting developments.

These statements are based on a number of assumptions, including, but not limited to, assumptions disclosed elsewhere in this document and assumptions regarding general business and economic conditions, interest rates, commodity and power prices; acts of foreign or domestic governments and the outcome of legal proceedings; our ability to satisfy the closing conditions of the Glencore transaction; the supply and demand for, deliveries of, and the level and volatility of prices of copper, zinc and steelmaking coal and our other metals and minerals, as well as steel, crude oil, natural gas and other petroleum products; the timing of the receipt of permits and other regulatory and governmental approvals for our development projects and other operations, including mine extensions; positive results from the studies on our expansion and development projects; our ability to secure adequate transportation, including rail and port services, for our products; our costs of production and our production and productivity levels, as well as those of our competitors; continuing availability of water and power resources for our operations; changes in credit market conditions and conditions in financial markets generally; the availability of funding to refinance our borrowings as they become due or to finance our development projects on reasonable terms; availability of letters of credit and other forms of financial assurance acceptable to regulators for reclamation and other bonding requirements; our ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors for our operations, including our new developments and our ability to attract and retain skilled employees; the satisfactory negotiation of collective agreements with unionized employees; the impact of changes in Canadian-U.S. dollar, Canadian dollar-Chilean Peso and other foreign exchange rates on our costs and results; engineering and construction timetables and capital costs for our development and expansion projects; our ability to develop technology and obtain the benefits of technology for our operations and development projects; closure costs; environmental compliance costs; market competition; the accuracy of our mineral reserve and resource estimates (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which these are based; tax benefits and tax rates; the outcome of our coal price and volume negotiations with customers; the outcome of our copper, zinc and lead concentrate treatment and refining charge negotiations with customers; the resolution of environmental and other proceedings or disputes; our ability to obtain, comply with and renew permits, licenses and leases in a timely manner; and our ongoing relations with our employees and with our business and joint venture partners.

In addition, assumptions regarding the Elk Valley Water Quality Plan include assumptions that additional treatment will be effective at scale, and that the technology and facilities operate as expected, as well as additional assumptions discussed under the heading “Elk Valley Water Management Update.” Assumptions regarding QB2 include current project assumptions and assumptions regarding the final feasibility study, estimates of the final capital cost at QB2 are based on a CLP/USD rate range of 800 — 850, as well as there being no further unexpected material and negative impact to the various contractors, suppliers and subcontractors that would impair their ability to provide goods and services as anticipated during ramp-up activities or delay demobilization in accordance with current expectations. Statements regarding the availability of our credit facilities are based on assumptions that we will be able to satisfy the conditions for borrowing at the time of a borrowing request and that the facilities are not otherwise terminated or accelerated due to an event of default. Assumptions regarding the costs and benefits of our projects include assumptions that the relevant project is constructed, commissioned and operated in accordance with current expectations. Expectations regarding our operations are based on numerous assumptions regarding the operations. Our Guidance tables include disclosure and footnotes with further assumptions relating to our guidance, and assumptions for certain other forward-looking statements accompany those statements within the document. Statements concerning future production costs or volumes are based on numerous assumptions regarding operating matters and on assumptions that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, or adverse weather conditions, and that there are no material unanticipated variations in the cost of energy or supplies. Statements regarding anticipated steelmaking coal sales volumes and average steelmaking coal prices depend on timely arrival of vessels and performance of our steelmaking coal-loading facilities, as well as the level of spot pricing sales. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to vary materially.

Factors that may cause actual results to vary materially include, but are not limited to, changes in commodity and power prices; changes in market demand for our products; changes in interest and currency exchange rates; acts of governments and the outcome of legal proceedings; inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources); operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of labour, materials and equipment, government action or delays in the receipt of government approvals, changes in royalty or tax rates, industrial disturbances or other job action, adverse weather conditions and unanticipated events related to health, safety and environmental matters); union labour disputes; any resurgence of COVID-19 and related mitigation protocols; political risk; social unrest; failure of customers or counterparties (including logistics suppliers) to perform their contractual obligations; changes in our credit ratings; unanticipated increases in costs to construct our development projects; difficulty in obtaining permits; inability to address concerns regarding permits or environmental impact assessments; and changes or further deterioration in general economic conditions. The amount and timing of capital expenditures is depending upon, among other matters, being able to secure permits, equipment, supplies, materials and labour on a timely basis and at expected costs. Certain operations and projects are not controlled by us; schedules and costs may be adjusted by our partners, and timing of spending and operation of the operation or project is not in our control. Certain of our other operations and projects are operated through joint arrangements where we may not have control over all decisions, which may cause outcomes to differ from current expectations. Current and new technologies relating to our Elk Valley water treatment efforts may not perform as anticipated, and ongoing monitoring may reveal unexpected environmental conditions requiring additional remedial measures. QB2 costs, commissioning and commercial production are dependent on, among other matters, our continued ability to advance commissioning and ramp-up as currently anticipated. QB2 costs may also be affected by claims and other proceedings that might be brought against us relating to costs and impacts of the COVID-19 pandemic or otherwise. Production at our Red Dog Operations may also be impacted by water levels at site. Sales to China may be impacted by general and specific port restrictions, Chinese regulation and policies, and normal production and operating risks. The forward-looking statements in this news release and actual results will also be impacted by the continuing effects of COVID-19 and related matters, particularly if there is a further resurgence of the virus.

We assume no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks, assumptions and uncertainties associated with these forward-looking statements and our business can be found in our Annual Information Form for the year ended December 31, 2023 filed under our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) under cover of Form 40-F, as well as subsequent filings that can also be found under our profile.

Scientific and technical information in this quarterly report regarding our coal properties, which for this purpose does not include the discussion under “Elk Valley Water Management Update” was reviewed, approved and verified by Jo-Anna Singleton, P.Geo. and Cameron Feltin, P.Eng., each an employee of Teck Coal Limited and a Qualified Person as defined under National Instrument 43-101. Scientific and technical information in this quarterly report regarding our other properties was reviewed, approved and verified by Rodrigo Alves Marinho, P.Geo., an employee of Teck and a Qualified Person as defined under National Instrument 43-101.

WHITE ROCK, BC / ACCESSWIRE / April 24, 2024 / Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company") is pleased to appoint George Topping as a Director effective today. The Company has also appointed Stephen Kibsey and Michael Jalonen as Advisors to the Company.

The Company's CEO, Dorian L. (Dusty) Nicol commented, "We welcome George Topping to our Board. His extensive experience in operations and capital markets will add great value to the Company as we implement our strategy to become a leading silver company. We also welcome Stephen Kibsey and Michael Jalonen as advisors. Each brings expertise that will help us implement our strategy to become the leading investment vehicle as we expect silver prices to march toward all-time highs."

George Topping is an experienced mining professional with over 30 years of practical and analytical experience in a wide range of commodities and listed mining equities. He worked for 12 years in the South African industry, gaining underground production management experience prior to commencing a 25-year capital markets career covering Canadian listed mining equities. He is a well-regarded mining analyst and was most recently at iA Capital Markets and before that, as CEO of Wolfden Resources, a publicly traded junior mining company. Mr. Topping holds a BSc Mining Engineering.

Stephen Kibsey has over thirty years of experience as an investment professional and currently does ESG coaching and mentoring for various organizations. He worked for 21 years at one of Canada's largest investment institutions (CDPQ) as analyst, portfolio manager, business unit risk manager, and more recently as a vice-president in the Investment Stewardship group. He also held the position of vice-president of Canadian equities during his ten years at one of Canada's largest corporate pension funds (BIMCOR). Stephen has for many years been at the forefront of responsible investment through his involvement with the creation of the Sustainable Investment Professional Certificate and the Sustainability Ecosystem at Concordia University. He lectured at the Goodman Institute on risk management in investment portfolio construction and Sustainability Finance and Accounting at McGill University and Queen's University. Stephen was a member of the Mining Association of Canada-Community of Interest Panel which gave feedback on the Toward Sustainable Mining protocols for 9 years and was one of the founding members of the Finance and Sustainability Initiative in Montreal. He sat on the Investment Committee and Risk Sub-committee of the McConnell Foundation in Montreal for 6 years. Stephen holds a Bachelor of Science in Physiology, a Bachelor of Engineering in Mining, a MBA, a SIPC, and was a CFA from 1991 to 2019. He has been recognized as a Brendan-Wood Top Gun portfolio manager from 2008-2010.

Michael Jalonen had an over 30-year career as a respected mine analyst, specializing in precious metals, with Bank of America Securities and was regularly ranked as a leading mining analyst in North America. He travelled throughout the world, visiting and reporting on over 100 gold, silver, and copper mining and development projects. He holds a BSc (Honors) in geology from the University of Windsor, an MBA from the De Groote School of Business, and is a designated CFA. While at Bank of America, Michael implemented investment recommendations, provided coverage, analyzed, and researched 20 companies in the North American senior, mid-tier, and intermediate precious metal producer group as well as 5 senior precious metal royalty and streaming companies. He created detailed operating and financial models on a mine by mine basis with long-term forecasts for companies under coverage, which led to valuation analyses to estimate company and asset values. He regularly published multiple industry thematic reports including five annual sector primers (including a royalty and streaming industry primer) and quarterly reports on merger and acquisition activity in the global gold sector.

Stock Option GrantThe Company also reports that the board of directors of Honey Badger approved the grant of a total of 3,595,000 incentive stock options of the capital stock of the Company to directors, officers, employees and consultants, vesting immediately, exercisable for up to a five-year period at an exercise price of $0.075, pursuant to the Company's shareholder approved stock option plan.

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 historic resources as current mineral resources and the Company is not treating the estimate as a current mineral resource. The historic resource estimates cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

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

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

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

ON BEHALF OF THE BOARDDorian L. (Dusty) Nicol, CEO

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

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

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

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

(Reuters) – North American copper miners are expected to report a decline in first-quarter earnings this week due to lower prices of the red metal amid persistently high costs.

Freeport-McMoRan and Canada's Teck Resources are expected to post a combined adjusted net income of $666.3 million, according to LSEG estimates, compared with $1.43 billion in the year-ago quarter.

Copper prices touched a multi-year high last month after major Chinese copper smelters agreed to limit capacity expansion.

Despite the late rally, average benchmark copper prices were down about 5% during the quarter compared to last year, weighed by concerns over demand in top-consumer China and fears of elevated interest rates.

"I would expect first-quarter cash flow to be low because, again, the copper price had not yet really risen," said Chris LaFemina, managing director, global metals and mining equities research at Jefferies.

The miners are also grappling with a labor shortage, especially in countries such as the U.S., and lower grades of ore, raising the per-unit production cost.

"In mining, costs tend to lag prices. So when the prices go down, it takes time before the costs are actually lower," LaFemina said.

In addition, Teck's quarterly earnings may see a hit from inclement weather in British Columbia, while Freeport's ongoing tussle with the Indonesian government over export permits could add to its costs, analysts said.

Over 50% of Wall Street analysts who cover Freeport and Teck have lowered their earnings estimates for both miners in the past 30 days, according to LSEG data.

However, a surge in the prices of gold, often mined as a by-product, could provide relief to miners like Freeport, analysts said.

"We think estimates are too pessimistic for Freeport-McMoRan, as the consensus doesn't appear to be giving Freeport credit for the significant gold production from Grasberg in Indonesia," CFRA analyst Matthew Miller said in a statement.

The late rally in copper prices will likely boost the free cash flow of miners in the second quarter, analysts said.

Company LSEG Q1 EPS LSEG Q1 Revenue

Estimate Estimate

Freeport-McMoRan 27 cents $5.66 billion

Teck Resources 89 Canadian C$4.07 billion

cents

Company Recommendation Median Price Target

Freeport-McMoRan Thirteen of 23 $51

brokerages rate

the stock "buy"

or higher and

10 "hold"

Teck Resources All 12 C$68.50

brokerages rate

the stock "buy"

or higher

(Reporting by Sourasis Bose in Bengaluru; Editing by Pooja Desai)

Teck Resources Ltd (TECK) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 25. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This company is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of -28%.

Revenues are expected to be $3.02 billion, up 7.7% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 4.81% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Teck Resources?

For Teck Resources, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -43.87%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Teck Resources will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Teck Resources would post earnings of $1.01 per share when it actually produced earnings of $1.02, delivering a surprise of +0.99%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Teck Resources doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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

Teck Resources Ltd (TECK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

L1 Capital, an investment management firm, released its “L1 Long Short Fund” first quarter 2024 investor letter, a copy of the same can be downloaded here. As U.S. economic data continued to surprise to the upside in comparison to market expectations, equity markets saw a gain throughout the March quarter. The portfolio returned 7.4% for the quarter compared to 5.3% for S&P/ASX 200 AI. Over the past three years, the portfolio return was 14.8% p.a compared to 9.6% p.a. for the index. Please check the top five holdings of the fund to know its best picks in 2024.

L1 Long Short Fund featured stocks like Teck Resources Limited (NYSE:TECK) in the first quarter 2024 investor letter. Headquartered in Vancouver, Canada, Teck Resources Limited (NYSE:TECK) engages in the exploration, acquisition, development, production, and sale of natural resources. On April 16, 2024, Teck Resources Limited (NYSE:TECK) stock closed at $47.13 per share. One-month return of Teck Resources Limited (NYSE:TECK) was 7.58%, and its shares gained 1.42% of their value over the last 52 weeks. Teck Resources Limited (NYSE:TECK) has a market capitalization of $24.83 billion.

L1 Long Short Fund stated the following regarding Teck Resources Limited (NYSE:TECK) in its first quarter 2024 investor letter:

"Teck Resources Limited (NYSE:TECK) (Long +8%) shares rose on the same copper market dynamics that drove the Capstone share price. Teck is in the process of completing the sale of its steelmaking coal business for US$8.6b. The company has already received US$1.3b and allocated $500m of this to a buy-back, with the remainder of the proceeds subject to regulatory approvals. Post transaction completion, we expect the company to have significant capital management flexibility, including the potential for further returns to shareholders. Following the divesture of its coal portfolio, Teck will become a leading copper-zinc producer with a strong pipeline of organic growth projects that can grow production by more than 60% over the next decade. Throughout 2024, Teck’s key focus will be to continue ramping up copper production at QB2 (one of the world’s largest new copper mines) and to establish a track record of positive operating performance."

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

Teck Resources Limited (NYSE:TECK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Teck Resources Limited (NYSE:TECK) was held by 68 hedge fund portfolios, compared to 75 in the previous quarter, according to our database.

We previously discussed Teck Resources Limited (NYSE:TECK) in another article, where we shared billionaire Stanley Druckenmiller’s top stock picks. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

Most Read from Bloomberg Businessweek

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

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

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

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

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

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

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

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

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

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

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

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

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

Qualified Person

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

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

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

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

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

Cautionary Note Regarding Forward-Looking Statements

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

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

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

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

Teck Resources Ltd

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

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

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

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

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

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

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

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

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

Caution to US Investors

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

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

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

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

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

Cautionary Note Regarding Forward-Looking Information

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

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

SOURCE: Honey Badger Silver Inc.

View the original press release on accesswire.com

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

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

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

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

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

About Flying Nickel

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

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

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: info@flynickel.com

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Drilling Down at the Case Lake Discovery

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

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

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

It was the anticipated cost of extraction.

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

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

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

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

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

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

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

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

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

New Drill Campaign with Australian Lithium Giant on Board

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

This is war, and it’s very territorial.

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

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

Other companies to keep an eye on:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

By. Tom Kool

IMPORTANT NOTICE AND DISCLAIMER FORWARD LOOKING STATEMENTS.

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

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

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Read this article on OilPrice.com

By Julian Luk and Joyce Lee

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

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

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

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

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

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

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

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

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

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

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

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

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

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

About the Minago Project

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

Qualified Person

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

About Flying Nickel

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

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

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: info@flynickel.com

Cautionary Note Regarding Forward-Looking Statements

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

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

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

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

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

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

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

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

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

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

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

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

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

Our Methodology

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

10 Best Silver ETFs To Buy

Photo by Scottsdale Mint on Unsplash

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

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

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

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

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

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

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

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

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

5-Year Share Price Performance: 9.51%

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

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

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

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

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

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

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

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

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

7. ProShares Ultra Silver (NYSE:AGQ)

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

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

6. Nippon India Silver ETF (NSE:SILVERBEES)

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

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

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

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