VANCOUVER, BC, Oct. 25, 2021 /CNW/ – FPX Nickel Corp. (TSXV: FPX) (OTXQB: FPOCF) ("FPX" or the "Company") is pleased to announce that the Company's common shares commenced trading today on the OTXQB® under the symbol "FPOCF." The Company's common shares are eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States. FPX Nickel will continue to trade on the TSX Venture Exchange under the symbol "FPX."

"We are pleased to begin trading on the OTCQB as a means of enhancing our visibility to prospective U.S. investors," commented Martin Turenne, FPX's President and CEO. "We are confident that this will provide the dual benefits of greater accessibility to an expanding shareholder base in the United States, as well as enabling greater exposure and liquidity as we continue to advance the flagship Baptiste Project at our Decar Nickel District in central British Columbia."

The OTCQB, operated by the OTC Markets Group, is the premier marketplace for early-stage and developing U.S. and international companies. Participating companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. Current financial disclosures and Real-Time Level 2 quotes for the Company are available at https://www.otcmarkets.com/stock/FPOCF.

DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. Company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible." DTC eligibility simplifies the process of trading and transferring the Company's common shares between brokerages in the U.S. DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company's common shares in the U.S. over time.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 km² of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia. The District is a two-hour drive from Fort St. James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni₃Fe), which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, and the B, Sid and Van targets, as confirmed by drilling in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four. Since 2010, approximately US $24 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit, which was initially the most accessible and had the biggest known surface footprint, has been the focus of diamond drilling since 2010, with a total of 82 holes and over 31,000 metres of drilling completed. The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste Deposit. The Van target was not drill-tested at that time as rock exposure was very poor prior to more recent logging activity.

As reported in the current NI 43-101 resource estimate, having an effective date of September 9, 2020, the Baptiste Deposit contains 1.996 billion tonnes of indicated resources at an average grade of 0.122% DTR nickel, containing 2.4 million tonnes of nickel, plus 593 million tonnes of inferred resources with an average grade of 0.114% DTR nickel, containing 0.7 million tonnes of nickel, both reported at a cut-off grade of 0.06% DTR nickel. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600 or ceo@fpxnickel.com.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne, President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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Figure 1

Globex, Rouyn Noranda Area, Quebec, Royalty and Property Holdings

ROUYN-NORANDA, Quebec, Oct. 25, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has acquired a 2% royalty equivalent to a Gross Metal Royalty (GMR) herein called “the RN Mining Camp Royalty” covering a significant length of the Cadillac Break east of Rouyn-Noranda and an additional large block of claims northwest of Rouyn-Noranda (See map attached).

Globex initially entered into discussions with the estates of two well-known and respected prospector/entrepreneurs following the purchase by Globex of the Rouyn Merger Gold Property (see press release dated August 5, 2021) on which a 2% royalty was held by the estates. Globex was successful in acquiring the royalty and thus eliminating it on the 6.5 kilometers of the Cadillac Break, numerous gold occurrences and zones and surrounding rocks which are within the Rouyn Merger property boundary. In the same purchase, Globex acquired royalty interests which extends both east and northwest of the Rouyn Merger property including on the Heva-Hosco Gold Property owned by Hecla Quebec Inc.

This Heva-Hosco property includes the following NI 43-101 gold resources as reported by Hecla Mining Co.:

To the northwest and adjoining to the Rouyn Merger property, an additional large block of claims held by Falco Resources Ltd. is also subject to the 2% royalty, covering, in part, the Horne Creek Fault.

The 2% royalty also applies to a very large block of claims northwest of Rouyn-Noranda covering the gold hosting Flavrian tonalite pluton and basic and felsic volcanic rocks along the western boundary of the pluton, all currently held by Falco Resources Ltd. This royalty area includes numerous showings and drill indicated areas of gold and base-metal mineralization both in the pluton and within the volcanic rocks.

Globex is pleased to have acquired the royalty which was paid for by the issuance of 150,000 Globex shares. Both Falco and Hecla have been notified of Globex’s royalty purchase.

Please see the adjoining map which shows the RN Mining Camp Royalty purchase area outlined in black and other royalties and properties held in the immediate area by Globex.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/85bf5c78-5567-48a6-95d0-9fedb47eb487

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the "Company") is pleased to announce that it has successfully concluded its 2021 surface diamond drill program (for detail see news releases, June 17, 2021, June 24, 2021, and August 24, 2021) for the season at its Revel Ridge Project with 10,747 metres cored in 39 holes.

Underground diamond drilling (fully permitted until August 2022) will resume on November 8, 2021. The drilling is being conducted under contract by Hy-Tech Drilling Ltd. of Smithers, B.C., under the supervision of Dr. James "Jim" Oliver, P. Geo.

The focus of the next stage of drilling will recover larger HQ size drill core from existing underground workings to obtain additional metallurgical samples from depth, while continuing to expand the Main, Hanging and Footwall Zones.

Work on updating the current NI 43-101 resource at Revel Ridge is continuing and surface assays are pending.

Corporate presentations, figures and photos are available on Rokmaster's website at https://www.rokmaster.com/projects/revel-ridge/

On behalf of the Board of Directors,

"John Mirko"

John Mirko, President and Chief Executive Officer.

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

SOURCE Rokmaster Resources Corp.

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In this article we will take a look at whether hedge funds think Rio Tinto Group (NYSE:RIO) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock picks historically outperformed the market after adjusting for known risk factors.

Rio Tinto Group (NYSE:RIO) investors should be aware of a decrease in enthusiasm from smart money of late. Rio Tinto Group (NYSE:RIO) was in 21 hedge funds' portfolios at the end of the second quarter of 2021. The all time high for this statistic is 26. There were 25 hedge funds in our database with RIO positions at the end of the first quarter. Our calculations also showed that RIO isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 79 percentage points since March 2017 (see the details here). That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.

Ken Fisher of Fisher Asset Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. With all of this in mind we're going to take a look at the latest hedge fund action regarding Rio Tinto Group (NYSE:RIO).

Do Hedge Funds Think RIO Is A Good Stock To Buy Now?

At the end of June, a total of 21 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -16% from one quarter earlier. On the other hand, there were a total of 20 hedge funds with a bullish position in RIO a year ago. With hedgies' sentiment swirling, there exists a few noteworthy hedge fund managers who were adding to their stakes considerably (or already accumulated large positions).

Among these funds, Fisher Asset Management held the most valuable stake in Rio Tinto Group (NYSE:RIO), which was worth $1084.4 million at the end of the second quarter. On the second spot was Arrowstreet Capital which amassed $156.8 million worth of shares. Masters Capital Management, Impala Asset Management, and Citadel Investment Group were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Impala Asset Management allocated the biggest weight to Rio Tinto Group (NYSE:RIO), around 5.06% of its 13F portfolio. Impala Asset Management is also relatively very bullish on the stock, dishing out 3.24 percent of its 13F equity portfolio to RIO.

Judging by the fact that Rio Tinto Group (NYSE:RIO) has experienced falling interest from hedge fund managers, it's safe to say that there is a sect of money managers that slashed their positions entirely in the second quarter. At the top of the heap, Ken Heebner's Capital Growth Management dumped the biggest investment of all the hedgies monitored by Insider Monkey, valued at close to $23.3 million in stock, and Benjamin A. Smith's Laurion Capital Management was right behind this move, as the fund said goodbye to about $23.3 million worth. These transactions are important to note, as total hedge fund interest fell by 4 funds in the second quarter.

Let's now review hedge fund activity in other stocks similar to Rio Tinto Group (NYSE:RIO). We will take a look at HDFC Bank Limited (NYSE:HDB), Intuit Inc. (NASDAQ:INTU), BlackRock, Inc. (NYSE:BLK), American Express Company (NYSE:AXP), Starbucks Corporation (NASDAQ:SBUX), Sanofi (NYSE:SNY), and International Business Machines Corp. (NYSE:IBM). This group of stocks' market caps are similar to RIO's market cap.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position HDB,39,1731917,12 INTU,66,5382791,-2 BLK,47,1282801,5 AXP,52,28660485,-1 SBUX,63,4757968,2 SNY,16,1261299,1 IBM,41,1373521,0 Average,46.3,6350112,2.4 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 46.3 hedge funds with bullish positions and the average amount invested in these stocks was $6350 million. That figure was $1420 million in RIO's case. Intuit Inc. (NASDAQ:INTU) is the most popular stock in this table. On the other hand Sanofi (NYSE:SNY) is the least popular one with only 16 bullish hedge fund positions. Rio Tinto Group (NYSE:RIO) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for RIO is 30.2. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24% in 2021 through October 22nd and surpassed the market again by 1.6 percentage points. Unfortunately RIO wasn't nearly as popular as these 5 stocks (hedge fund sentiment was quite bearish); RIO investors were disappointed as the stock returned -19.7% since the end of June (through 10/22) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2021.

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

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TSX-V: GBR

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Great Bear Resources Ltd. (the "Company" or "Great Bear"), (TSXV: GBR) (OTCQX: GTBAF) today reported gold recovery test results from its 100% owned flagship Dixie Project, in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, "We selected what were anticipated to be the 'most difficult' mineralized domains to extract gold from at the LP Fault, and are pleased to report very high gold recoveries at all grades. This has strong positive implications for the future development potential of the Dixie project. Similar very high gold recoveries from the Dixie Limb and Hinge zones using comparable grinding and cyanidation protocols indicates mineralized material from all gold zones is likely amenable to processing through the same extraction circuits. Initial LP Fault cyanidation gold recovery tests confirm that non-refractory, free gold dominates all low to high-grade domains tested to-date. All Dixie gold zones have excellent potential for significant gravity circuit gold recoveries, which will be investigated in the next phase of metallurgical testing."

Highlights of Gold Recovery Results

Ten one kilogram representative samples were analyzed at Blue Coast Research Ltd. ("Blue Coast") of Parksville, British Columbia (Table 1). Samples were composited from 10 to 13 metre long core intervals and were processed through a standard 48 hour bottle roll procedure at 40% solids, using a 1.0 g/L sodium cyanide solution.

• All tested combinations of grades, host rocks, sulphide content and alteration styles recovered a very high percentage of total gold, within a four percent range from 95.2% to 99.2%. While high-grade gold samples recovered the highest percentage of total gold during cyanidation, sub-gram low-grade gold mineralization nonetheless achieved excellent recoveries of greater than 95 percent. Table 2 and Figure 1.

• LP Fault gold mineralization is not refractory. All samples, regardless of grade, were described as "free-milling", indicating gold is not encapsulated in sulphide accessory minerals. Free gold mineralization has repeatedly been observed and reported by Great Bear, including during petrographic/microscope analysis (see news release of September 22, 2020).

Table 1: Metallurgical sample descriptions.

Table 2: Gold recovery results from LP Fault composite samples.

Ongoing Metallurgical Testing

The samples reported here represent the most mineralogically complex intervals drilled to date at the LP Fault and have higher accessory sulphide content than the zone's average. In most gold deposits, zones with higher sulphide content have lower gold recoveries than zones with lower sulphide content.

• Accessory sulphide content had no measurable effect on gold recoveries, confirming that gold is not present within sulphide mineral crystal structures.

• Autoclave processing will not be required for LP Fault mineralized material.

• Additional gold recovery testing of low-sulphide material is now also underway, which is expected to yield comparable high gold recoveries.

• Great Bear management notes that current cyanidation gold recovery results are in line with the high reported operational gold recoveries at mines in the Red Lake district, which generally recover +90%.

• Ongoing testing also includes "gold-only" LP Fault mineralization such as that observed within high-grade intervals in LP Fault discovery drill hole DNW-011 (see news release of May 28, 2019) where gold is observed without significant accessory sulphides in many samples. In most gold deposits, gold-only mineralization yields the highest gold recoveries.

Gravity gold recovery circuits are important, low-cost components of many gold processing operations. Due to the free gold character of all grade ranges of LP Fault mineralization, the mineralized material is expected to be amenable to gravity-based gold separation. Gravity amenability is currently being tested by Great Bear.

Results of ongoing metallurgical testing will be reported periodically as completed through 2022.

Gold recoveries from the Hinge and Dixie Limb zones were originally disclosed by the Company on November 12, 2020 and January 27, 2021, and are provided in Table 3.

Table 3: Gold recoveries from the Dixie Limb and Hinge zones previously reported by Great Bear.

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction. Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines. The property also hosts a network of well-maintained logging roads which facilitate access.

23 high-grade domains are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization. Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains. They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and transition from upper greenschist to lower amphibolite facies metamorphism. Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

To date, Great Bear has completed a total of 672 drill holes, identifying three high-grade gold discoveries. The most significant discovery is the large-scale "LP Fault" zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units. LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length. The nearby "Hinge" and "Limb" gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units. Over 80% of the Company's drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization. Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company's website at https://greatbearresources.ca/projects/overview/dixie-project-data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets. The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial multi-million ounce mineral resource estimate in accordance with NI 43-101 for the Dixie project in early 2022.

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab. Selected samples are also chosen for duplicate assay from the coarse reject of the original sample. Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

Results for the metallurgical test program were provided and approved by Andrew Kelly, P.Eng., of Blue Coast Research Ltd., a Qualified Person for the purpose of National Instrument 43-101.

ON BEHALF OF THE BOARD

"Chris Taylor"

Chris Taylor, President and CEO

Cautionary note regarding forward-looking statements

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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SOURCE Great Bear Resources Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/25/c1585.html

Highlights:

• Pit-Constrained Indicated Mineral Resource Estimate of 5.0 Mt grading 2.49 g/t AuEq and Inferred Mineral Resource Estimate of 13.7 Mt grading 2.24 g/t AuEq;

• Out-of-Pit Inferred Mineral Resource Estimate of 1.7 Mt grading 3.06 g/t AuEq; and

• The last exploration drilling campaign expanded a high-grade zinc-gold zone which intersected 4.67m of 15.05% Zn, 4.37 g/t Au, 57.88 g/t Ag and 0.36% Cu.

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) is pleased to announce an Updated Mineral Resource Estimate at the Company's 100% owned Point Leamington Deposit, Newfoundland (the "Project"). This Project hosts a VMS deposit (the "Deposit") with significant gold, copper and zinc mineralization that is open for expansion (Pt. Leamington Deposit 3D View). The Deposit is located within a mineral lease and accessible by road and trails approximately 37km from the city of Grand-Falls Windsor and 20km from the clean hydroelectric provincial power grid (District Overview Map). The Mineral Resource Estimate was prepared by P&E Mining Consultants Inc. ("P&E") for Callinex.

The Point Leamington Mineral Resource Estimate consists of a pit constrained Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t gold equivalent ("AuEq") for 402 koz AuEq (145.7 koz gold ("Au"), 60.0 Mlb copper ("Cu"), 153.5 Mlb zinc ("Zn"), 2.0 Moz silver ("Ag"), 1.5 Mlb lead ("Pb")), an pit constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq for 986.5 koz AuEq (354.8 koz Au, 110.2 Mlb Cu, 527.3 Mlb Zn, 6.2 Moz Ag, 7.0 Mlb Pb) and an out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq for 168.5 koz AuEq (65.4 koz Au, 13.3 Mlb Cu, 102.9 Mlb Zn, 1.4 Moz Ag, 2.6 Mlb Pb). See Table 1 on the breakdown of metal components that comprise the AuEq disclosure.

Max Porterfield, President & CEO of Callinex Mines stated, "The Point Leamington Mineral Resource Estimate with an Inferred Mineral Resource of over 1.1 million gold equivalent ounces coupled with an Indicated Mineral Resource of over 400 thousand gold equivalent ounces is significant in that we have now demonstrated a large, near surface deposit in the heart of Newfoundland. We plan to aggressively advance this project by completing additional metallurgical test work in tandem with exploration. This project fits in nicely with our attractive Canadian portfolio, as we continue to unlock substantial value for our shareholders."

Table 1: Point Leamington Resource Estimate Summary

Indicated Mineral Resource Estimate ^(1-8)

Inferred Mineral Resource Estimate ^(1-8)

Exploration

There is an opportunity to significantly expand a higher-grade portion of the Deposit with additional drilling at depth. The most recent hole drilled in 2004, PL04-077, intersected 4.67m grading 4.37 g/t Au, 15.05% Zn, 57.88 g/t Ag and 0.36% Cu. and PL-056 which intersected 4.51m 2.27 g/t Au, 8.84% Zn, 81.66 g/t Ag and 0.61% Cu are the two deepest holes to intersect the Deposit. Drill holes PL04-077 and PL-056 are located 150 metres apart with no cut-off holes below the 435 metre level (Pt. Leamington Longsection).

The Project also has potential to host additional tonnage along strike from the Point Leamington Deposit. Drill hole PL04-073, drilled during the most recent exploration campaign, intersected 3.9m grading 5.18% Zn, 1.65 g/t Au, 33.1 g/t Ag and 0.27% Cu (See Figure 2). The Company is currently reprocessing historic borehole pulse Electromagnetic data surrounding the largely untested area and additional drilling may be completed in the future.

The Point Leamington Deposit style of mineralization, alteration, and host rocks suggests that it is a Kuroko-type VMS deposit hosted in Cambro-Ordovician age rocks, which are similar to the past producing Buchans and Duck Pond Mines in the area. The massive sulphides occur at a transitional period between altered felsic volcanics (dominantly flows, breccias, and pyroclastic) and a sedimentary / mafic volcanic sequence. As a result of reviewing historical regional data, the Company believes that there is significant opportunity to discover additional deposits with further exploration efforts.

Resource Estimate Assumptions

The Mineral Resource Estimate was generated using inverse distance cubed for gold and silver and inverse distance squared for zinc, copper and lead, for grade interpolation within a 3-D block model, constrained by mineralized zones defined by wireframes solid models. The bulk density values used in the Mineral Resource Estimate were derived from a regression equation based on data measured from samples collected from Noranda drill core stored at the Newfoundland Department of Natural Resources Core Storage Facility in St. John's, Newfoundland.

The database for the Mineral Resource Estimate consisted of 94 drill holes totaling 28,172 m, of which a total of 57 drill holes totaling 15,660 m intersected the mineralization wireframes used for the Mineral Resource Estimate. The drill hole database contained assays for gold, zinc, copper, silver and lead as well as other metals of no economic importance. In June 2020 and May 2021, P&E carried out data verification on the historical database with a 168 sample drill core selection program from the Department of Natural Resources drill core storage facility in St. John's, Newfoundland.

The CDN$/t NSR values were calculated to determine the potentially economic portions of the pit constrained and out-of-pit constrained mineralization. The calculations included:

The C$/t NSR values of blocks were determined with the following formula:

C$/t NSR = (Au g/t x 37.92) + (Cu % x 66.67) + (Zn % x 15.68) + (Ag g/t x 0.19) + (Pb% x 0)

The pit-constrained Mineral Resource model was determined with a pit optimization, to ensure a reasonable assumption of potential economic extraction. The following are the parameters utilized in pit optimization:

Engages a Mining Consultant, Capital Markets Advisory CA

The Company also announces that it has engaged Capital Markets Advisory CA to increase awareness and the profile of the Company in the investment community, including introducing the Company to institutional investors. In consideration for these services, the Company has agreed to pay $6,000 per month and grant 25,000 stock options at a price of $[3.00] per share for a period of [five] years from the date of grant. The options will vest and become exercisable on a quarterly basis over a twelve month period. The term of the agreement is for a minimum of 6 months and may be terminated by either party with 30 days written notice. Capital Markets Advisory CA is controlled by Karen Mate.

Qualified Person

The contents of this news release have been reviewed and approved by J.J. O'Donnell, P. Geo, Exploration Manager to the Company, and by Eugene Puritch, P.Eng, FEC, CET, President of P&E Mining Consultants, who is independent of the Company. Messrs O'Donnell and Puritch are Qualified Persons as defined by NI 43-101. Mr. O'Donnell, P. Geo., is the Qualified Person for all technical information in this news release, excluding the 2021 Resource Estimate.

Point Leamington Project

The Point Leamington Project, consisting of Mining Lease 136(2655), is located approximately 37km by road and trails from the City of Grand-Falls Windsor and approximately 20km from the provincial power grid. The Deposit is a large, felsic-hosted VMS deposit that dips 70 degrees to the west, has a strike length of 500m and a maximum thickness of 85m. Massive sulphides have been intercepted to a depth of 360m below surface from a total of approximately 21,714m of drilling in 72 drill holes. Regional government mapping and lithogeochemical sampling has indicated that Point Leamington's host volcanic stratigraphy extends well beyond the vicinity of the Deposit.

About Callinex Mines Inc.

Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its portfolio of rich VMS deposits located in three established Canadian mining jurisdictions. The portfolio is highlighted by it's high grade Copper/Zinc Pine Bay Project in Flon Flon, Manitoba, located 25km to an operating processing facility that requires additional ore; the companies high grade VMS deposit, Nash Creek, in New Brunswick with a 2018 PEA that generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax) at $1.25 zinc. The projects have significant exploration upside over a district-scale land package that encompasses several high-grade mineral occurrences along a 20km trend. In addition, the Point Leamington Project in Newfoundland that hosts a large, high grade VMS rich, felsic-hosted deposit.

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.

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.

View original content to download multimedia:https://www.prnewswire.com/news-releases/callinex-announces-goldcopperzinc-mineral-resource-estimate-at-point-leamington-newfoundland-301407360.html

SOURCE Callinex Mines Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/25/c5686.html

TORONTO, ON / ACCESSWIRE / October 25, 2021 / Bold Ventures Inc. (TSX.V:BOL) (the "Company" or "Bold") is pleased to report that its geological team has completed a prospecting, geological mapping, stripping and sampling program and have demobilized from the Traxxin Gold Project, east of Atikokan. Having inspected historical trenching on the claims at both the Main Zone and the Teardrop Zone, specific locations were cleaned and/or extended for mapping and sampling. Additionally, prospecting focussed on areas adjacent to and south of the Main Zone (see project details and maps). As a result, 5 new exposures have been cleaned, mapped and channel sampled for the first time.

Of particular note, is the presence of two new surface showings that exhibit prominent shearing and quartz flooding with associated sulphide mineralization varying from 1% to 10%. These showings have not been sampled in the past. A total of 103 samples have been taken from various locations within the claims and will be submitted for gold analysis to an accredited lab. A map showing the location of the new showings can be accessed here.

Historical geophysical surveys are being re-interpreted in order to improve the understanding of the relationship between the geophysical signature and the known gold mineralization. This will assist in determining the optimal survey system and coverage to identify and trace out possible gold-bearing horizons more clearly. Current geological interpretation indicates that multiple shear zones occur subparallel to the Main Zone. The character, orientation, continuity, and intensity of the shearing remains a focus of the exploration effort.

A study of polished thin section samples from historical drill core has been initiated. This is designed to improve the technical team's understanding of the mineralogical relationships with the gold mineralization encountered at the property. The work is being carried out under the supervision of Professor James Mungall, PhD, Carleton University, who is a member of Bold's Advisory Board.

Additional exploration work at the Traxxin property is being planned as the results from the current work are received and evaluated. For a view of the technical merits of the Traxxin Gold Project and our other properties please visit our website at www.boldventuresinc.com.

The technical and scientific disclosures in this news release have been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) under National Instrument 43-101.

Traxxin Extension Joint Venture

In April 2017, Lac des Mille Lacs First Nation (LDMLFN) and Bold entered into a joint venture to explore the northeastern extension of the Traxxin Gold discovery. Pursuant to the Traxxin Extension Joint Venture Agreement, LDMLFN has the right to earn a 50% interest in the Traxxin Gold Property from Bold by paying to Bold 50% of the cash option payments, 50% of the expenditure requirements and reimbursing Bold for 50% of the value of the shares issued pursuant to the Option. If the Option is earned and both parties maintain their interest in the Traxxin Gold Property, Bold and LDMLFN will form a joint venture for the further exploration and development of the Traxxin Gold Property.

About Bold Ventures Inc.

The Company explores for Gold and Base Metals in Canada. Bold is exploring properties located within active gold camps of Northern Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.

As a result of the current COVID-19 virus concerns, the Company's management and contractors are following public guidelines and taking recommended steps to protect the health and safety of all personnel while carrying out operations. As a result of the COVID-19 pandemic giving rise to local and national anti-virus measures, the scheduling of activities is subject to change. COVID-19 impacts may affect timing and availability of goods and services for the foreseeable future.

For additional information about Bold Ventures and our projects please visit www.boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.

"David B Graham"
David Graham
President and CEO

Neither 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 Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

SOURCE: Bold Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/669424/Bold-Ventures-Uncovers-New-Shear-Zone-at-Traxxin

With some minerals in short supply amid a global supply-chain crisis, the mining company is looking at ways it can produce additional minerals essential for modern technologies.

MELBOURNE, Australia, October 23, 2021–(BUSINESS WIRE)–Rio Tinto, BHP and Fortescue Metals Group (Fortescue) have agreed to partner and fund innovative, industry-first learning programs as part of a continued commitment towards mining sector workplaces that are free from sexual harassment, bullying and racism.

Through this partnership, Rio Tinto, BHP and Fortescue will fund and contribute to the design, build and implementation of new social awareness education packages for deployment through a range of education providers such as TAFE, Registered Training Organisations (RTOs), universities and high schools.

By starting conversations on these vital topics through education providers, the industry can make an important contribution to raise awareness of social wellbeing and related behaviours (collectively referred to as "psychosocial harm") for the benefit of all Western Australians.

The collaboration partners will invite leading experts in social wellbeing to form part of a working group bringing together government, community, industry and educators across TAFE, RTOs, universities and high schools in Western Australia to design and implement the program.

A pilot program for TAFE students will be developed through South Metropolitan TAFE. The pilot, to be developed in 2022, will form part of core learning requirements for students who may be planning to join Rio Tinto, BHP or Fortescue. South Metropolitan TAFE will go on to share this education package through the broader WA TAFE network.

The partnership will also explore the potential to work with universities and high schools to encompass broader education pathways across the State, as well as for delivery in workplaces. In time, these packages will be made available for application across broader industries and across other parts of Australia.

The education program is one of a number of initiatives introduced by mining companies to address sexual harassment, bullying and racism in WA’s mining sector.

All three companies joined with the Chamber of Minerals and Energy earlier this year to pledge support for the parliamentary inquiry into sexual harassment against women in the FIFO mining industry and committed to work together to eradicate these behaviours from the sector.

Comments attributed to Rio Tinto Chief Executive, Iron Ore, Simon Trott:

"Our number one priority is the safety, health and wellbeing of our people and our communities.

"We recognise that we have some way to go to achieve workplaces free from sexual harassment, bullying and racism across our industry and we are committed to making the changes needed to create a safer work environment where respectful behaviour is experienced by everyone.

"Education is one part of a range of measures Rio Tinto is introducing to create safer workplaces, including building leadership capability, improving our camp facilities, new rules on the consumption of alcohol, as well as improving the way we prevent, respond to, report and investigate incidents in order to build a respectful, safe and inclusive culture.

"We expect this partnership with BHP and FMG will help build a safer workplace and help empower our future workforce to create the culture we need."

Comments attributed to BHP WA Iron Ore asset president Brandon Craig:

"Sexual assault and sexual harassment have no place at BHP or anywhere in our industry.

"We are committed to providing a safe and inclusive workplace at all times, where disrespectful behaviours are eliminated.

"Education and training are critical to ensuring common understanding of the behaviours that are appropriate and acceptable at BHP.

"This industry collaboration will complement our existing internal training programs, leadership training, communication campaigns, and upgrades to camp security, and support services available to anyone who experiences disrespectful behaviour."

Comments attributed to Fortescue Metals Group Chief Executive Officer, Ms Elizabeth Gaines:

"The safety and wellbeing of the Fortescue family is our highest priority and we are strongly committed to providing a safe, diverse and inclusive work environment for all our team members.

"There is no place for harassment and bullying of any kind in the mining sector or in any workplace, and we will continue to work with industry partners to take decisive action to ensure our workplaces are safe for everyone.

"In line with our value of empowerment, this partnership with Rio Tinto and BHP will provide young West Australians looking at a career in the mining sector with the skills to identify and speak up against inappropriate behaviour and enhance the safety, culture and experience of working in WA’s mining sector."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211023005002/en/

Contacts

Media contacts
Kate Barcham
0438 990 238
Kate.barcham@riotinto.com

Jamie Macdonald
0467 725 517
Jamie.Macdonald@riotinto.com

Alana Buckley-Carr
0416 295 600
alana.buckleycarr@bhp.com

Michael Vaughan
0422 602 720
mediarelations@fmgl.com.au

Category: Pilbara

Mosaic (MOS) closed at $42.01 in the latest trading session, marking a -0.38% move from the prior day. This move lagged the S&P 500's daily loss of 0.11%.

Coming into today, shares of the fertilizer maker had gained 20.59% in the past month. In that same time, the Basic Materials sector gained 6.23%, while the S&P 500 gained 4.61%.

Wall Street will be looking for positivity from MOS as it approaches its next earnings report date. This is expected to be November 1, 2021. In that report, analysts expect MOS to post earnings of $1.59 per share. This would mark year-over-year growth of 591.3%. Our most recent consensus estimate is calling for quarterly revenue of $3.8 billion, up 59.69% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.99 per share and revenue of $12.46 billion, which would represent changes of +487.06% and +43.53%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for MOS. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.52% higher within the past month. MOS is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that MOS has a Forward P/E ratio of 8.46 right now. For comparison, its industry has an average Forward P/E of 13.88, which means MOS is trading at a discount to the group.

Also, we should mention that MOS has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Fertilizers was holding an average PEG ratio of 1.47 at yesterday's closing price.

The Fertilizers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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The Mosaic Company (MOS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

By Clara Denina and Melanie Burton

LONDON/MELBOURNE (Reuters) -Australia's securities watchdog has closed its investigation into former Rio Tinto Ltd executive Alan Davies over an alleged $10.5 million payment to a consultant in Guinea, citing insufficient evidence, according to a letter reviewed by Reuters.

Davies, formerly Rio's Energy and Minerals chief executive, was fired in late 2016 after Rio Tinto became aware https://www.reuters.com/article/us-rio-tinto-guinea-terminates-idUSKBN13B2Y4 of emails from 2011 that referred to payments to the consultant in connection with its vast Simandou iron ore project in the West African nation.

According to the letter, ASIC's investigation covered directors duties like care and diligence and operating in good faith, obligations of honesty, and true and correct books and records. It closed the investigation on all individuals involved.

"ASIC has concluded its investigation on the basis that there is insufficient evidence to establish to a court that there has been a breach of the law," the Australian Securities and Investments Commission (ASIC) said in the letter, dated Oct. 19 and addressed to Davies.

"As I said in 2016, Rio Tinto did have no grounds to dismiss me and that continues to be my view," Davies told Reuters.

Rio Tinto had no immediate comment.

ASIC acknowledged the letter, saying it would not take enforcement action. "We've noted that ASIC may recommence its investigation, or commence enforcement action, if circumstances change," a spokesperson said.

A spokesperson at London's Serious Fraud Office, which also started an investigation https://www.reuters.com/article/uk-britain-sfo-rio-tinto-idUKKBN1A9246 into the matter in 2017, said on Thursday that the probe remains active. Rio said at the time it had also referred the allegations to U.S. regulators.

(Reporting by Melanie Burton and Clara DeninaAdditional reporting by Kirstin Ridley in London;Editing by Richard Pullin and Frances Kerry)

Investors are always looking for stocks that are poised to beat at earnings season and Southern Copper Corporation SCCO may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because Southern Copper is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for SCCO in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at $1.15 per share for SCCO, compared to a broader Zacks Consensus Estimate of $1.13 per share. This suggests that analysts have very recently bumped up their estimates for SCCO, giving the stock a Zacks Earnings ESP of +2.07% heading into earnings season.

Southern Copper Corporation Price and EPS Surprise

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

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that SCCO has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Southern Copper, and that a beat might be in the cards for the upcoming report.

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Southern Copper Corporation (SCCO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

By Ernest Scheyder

(Reuters) -A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans. "It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.

Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.

The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.

Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.

An attorney for the Apache Stronghold said the group was optimistic the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.

"It's really hard and frankly dangerous to try to predict which way the court is going to rule based on oral arguments," Luke Goodrich, an attorney for Apache Stronghold, told a San Francisco press conference after the hearing. "I think they'll see what the right thing is to do."

Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.

The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.

Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.

The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.

U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.

"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.

Goodrich, the attorney for Apache Stronghold, disagreed.

"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he told the court.

Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.

Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.

"When a statute and treaty rights conflict, the statue abrogates it," she said.

U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.

(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)

(Adds quote from press conference)

By Ernest Scheyder

Oct 22 (Reuters) – A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans.

"It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.

Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.

The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.

Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.

An attorney for the Apache Stronghold said the group was optimistic the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.

"It's really hard and frankly dangerous to try to predict which way the court is going to rule based on oral arguments," Luke Goodrich, an attorney for Apache Stronghold, told a San Francisco press conference after the hearing. "I think they'll see what the right thing is to do."

Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.

The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.

Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.

The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.

U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.

"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.

Goodrich, the attorney for Apache Stronghold, disagreed.

"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he told the court.

Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.

Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.

"When a statute and treaty rights conflict, the statue abrogates it," she said.

U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.

(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Teck Resources Ltd (TECK), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Teck Resources Ltd currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market?

Let's discuss some of the components of the Momentum Style Score for TECK that show why this company shows promise as a solid momentum pick.

Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For TECK, shares are up 9.51% over the past week while the Zacks Mining – Miscellaneous industry is up 6.2% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 12.52% compares favorably with the industry's 7.21% performance as well.

While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Teck Resources Ltd have increased 19.97% over the past quarter, and have gained 103.28% in the last year. In comparison, the S&P 500 has only moved 4.72% and 34.13%, respectively.

Investors should also take note of TECK's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, TECK is averaging 4,354,742 shares for the last 20 days.

Earnings Outlook

The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with TECK.

Over the past two months, 10 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost TECK's consensus estimate, increasing from $2.69 to $3.22 in the past 60 days. Looking at the next fiscal year, 12 estimates have moved upwards while there have been no downward revisions in the same time period.

Bottom Line

Taking into account all of these elements, it should come as no surprise that TECK is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Teck Resources Ltd on your short list.

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Investors are always looking for stocks that are poised to beat at earnings season and Teck Resources Limited TECK may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because Teck Resources is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for TECK in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at $1.16 per share for TECK, compared to a broader Zacks Consensus Estimate of $1.06 per share. This suggests that analysts have very recently bumped up their estimates for TECK, giving the stock a Zacks Earnings ESP of +9.86% heading into earnings season.

Teck Resources Limited Price and EPS Surprise

Teck Resources Limited price-eps-surprise | Teck Resources Limited Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that TECK has a Zacks Rank #1 (Strong Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Teck Resources, and that a beat might be in the cards for the upcoming report.

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Mosaic (MOS) closed at $42.17 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%.

Prior to today's trading, shares of the fertilizer maker had gained 28% over the past month. This has outpaced the Basic Materials sector's gain of 7.79% and the S&P 500's gain of 4.28% in that time.

MOS will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $1.63, up 608.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 60.82% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.48 billion, which would represent changes of +490.59% and +43.77%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for MOS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.14% higher within the past month. MOS is currently a Zacks Rank #2 (Buy).

In terms of valuation, MOS is currently trading at a Forward P/E ratio of 8.47. This represents a discount compared to its industry's average Forward P/E of 14.81.

It is also worth noting that MOS currently has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Fertilizers stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.

The Fertilizers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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MELBOURNE, Oct 21 (Reuters) – BHP Group is looking at the potential to use the waste from its Australian nickel mining operations to capture and store carbon and will conduct field trials this financial year.

It is also harnessing new technologies to look deeper underground for minerals critical to the energy transition like nickel and copper, Chief Technical Officer Laura Tyler will say at a trade conference in London, according to prepared remarks.

BHP mines the metal at its Nickel West operations in Western Australia. It also processes nickel into high quality powder, 85% of which goes to the battery industry. This year it signed a deal to supply nickel – a key ingredient in electric vehicle batteries – to Tesla Inc.

Waste from Nickel West operations is high in magnesium oxide, which can pull carbon out of the air to create magnesium carbonate, a stable compound in the form of a salt, according to Tyler.

"That material can then be left safely in situ, or used in building materials like carbon neutral cement or plasterboard," her prepared remarks said.

BHP’s trials will be conducted at its Mt Keith tailings dam in Western Australia.

At five kilometres wide, the dam can already store some 40,000 tonnes of carbon dioxide from the atmosphere each year, enough to offset around 15,000 average-sized combustion engine cars. Researchers believe it could store far more CO2 every year if the mineral carbonation rate could be enhanced through different processes and engineering solutions.

The miner is also using real-time sensors, multi-physics arrays and data analytics to speed up decision-making, cut logistics requirements and increase the potential for discoveries.

BHP on Wednesday topped a takeover offer for Noront Resources Ltd from Australian billionaire Andrew Forrest's Wyloo Metals, as the two groups vie for greater access to the high-grade nickel deposit.

(Reporting by Melanie Burton; Editing by Edwina Gibbs)

CRANBROOK, BC / ACCESSWIRE / October 21, 2021 /Eagle Plains Resources Ltd. (TSX-V:EPL) is pleased to report that it has mobilized crews to commence exploration fieldwork at the road-accessible Slocan Graphite Project located 34km northwest of Castlegar, British Columbia. The project is owned 100% by Eagle Plains with no underlying royalties or encumbrances. The property hosts several large flake graphite-bearing outcrops and float occurrences known as the Tedesco Zone, which is interpreted to extend over 2.0km. Prior to the commencement of fieldwork Eagle Plains acquired by staking an additional 188 ha of mineral tenure to increase the property size to 2387 ha. 2021 program work will be managed by TerraLogic Exploration Services of Cranbrook, BC. under the supervision of Jarrod A. Brown, P.Geo.

The current program will focus on prospecting and geological mapping in underexplored areas of the property to locate extensions of the known graphite mineralized horizon and to better understand controls on mineralization.

See project location and summary map here

About the Slocan Graphite Project

Graphite is a naturally occurring form of carbon and is an excellent conductor of both electricity and heat. It is becoming increasingly important as a critical strategic component in advancing alternative energy solutions including wind and solar power, hybrid vehicles and other alternative energy uses. It is also a mainstay of the steel production industry. Canada is currently ranked as the 5^th largest supplier of graphite.

The Slocan Graphite Project benefits from excellent infrastructure including a high-voltage transmission line within 1.2 km of the property boundaries, an extensive network of forestry roads on and around the property, and an existing graphite processing plant and facilities located 1.5 km west of the property, owned by Eagle Graphite Corporation.

Graphite mineralization was initially discovered in logging road exposures in the late 1990's. Ground and airborne geophysical surveys were completed in the project area in 2000 and 2010 respectively. Both surveys indicated strong conductive anomalies that correlate well with surface mineralization and are interpreted to extend along strike and down-dip of known occurrences. A limited number of documented samples have been taken across the Tedesco horizon and analysed for carbon graphite ranging from trace values to grades of up to 3.36 and 4.43 per cent.

Graphite mineralization is hosted primarily in carbonate and calc-silicate lithologies within the Passmore Dome of the Valhalla Metamorphic Complex, a geologic setting consistent with a crystalline flake graphite deposit model. Previous operators have estimated the mineralized horizon to be up to 50m thick, however cite that it is difficult to determine due to a lack of surface exposure. The horizon has never been tested by diamond drilling.

Past workers in the area concluded: "Although the graphite occurrences at Tedesco are in the early stages of exploration, geological, assay, and geophysical data indicate significant potential to form an economic deposit" (BC Assessment Report 26537). Eagle Plains geologists are of the opinion that the high-quality, large flake character of the graphite mineralization found to date, spatial extent of conductivity from a 2010 airborne electromagnetic ("EM") survey, minimal historic exploration activity, excellent proximity to infrastructure and the favorable economic outlook for graphite as a strategic commodity make Slocan Graphite a compelling project for continued exploration and a potentially significant component of Eagle Plain's broad and varied portfolio of exploration projects. The project is consistent with EPL's policy of identifying and acquiring undervalued exploration projects during cyclical downturns within a particular commodity space.

Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work at the Slocan Graphite property. While the company considers the above historical information to be relevant to investors as it may indicate the presence of mineralization, the reader is cautioned that a Qualified Person has not done sufficient work to evaluate the potential of the property to contain an economic deposit and that there is no certainty that the property contains a graphite deposit.

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Director of Eagle Plains Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, most of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com.

Cautionary Note Regarding Forward-Looking Statements

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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Eagle Plains Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/668950/Eagle-Plains-Acquires-Additional-Tenure-and-Commences-2021-Fieldwork-at-the-Slocan-Graphite-Property

Southern Copper Corporation SCCO is expected to deliver year-over-year improvement in both revenues and earnings when it reports third-quarter 2021 results next week.

Q2 Results

In the last reported quarter, the company’s earnings and sales not only beat the Zacks Consensus Estimate but also improved year over year owing to higher metal prices.

The company has beat earnings estimates in each of the trailing four quarters, the average surprise being 10.2%.

Southern Copper Corporation Price and EPS Surprise

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

Q3 Estimates

The Zacks Consensus Estimate for third-quarter 2021 earnings per share is currently pegged at $1.13, indicating an improvement of 74% from the prior-year quarter. The estimate has gone up 4% over the past 30 days. The consensus mark for the quarter’s revenues stands at $2.7 billion, suggesting year-over-year growth of 27%.

What the Zacks Model Unveils

Our proven Zacks model predicts an earnings beat for Southern Copper this time around. This is because the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is exactly the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings ESP: The Earnings ESP for Southern Copper is +2.07%.

Zacks Rank: Southern Copper currently carries a Zacks Rank of 3.

Key Factors to Note

Copper accounts for more than 80% of the company’s sales. Over the past few quarters, the company has been witnessing lower production at its Peruvian mines due to lower ore grades and this is expected to continue through 2022. Consequently, the third-quarter production numbers are likely to reflect this impact. This may, however, be somewhat offset by higher production at its Mexican mines and its Mexican underground operations (IMMSA unit) owing to increased production at the San Martin mine.

Overall silver production is likely to be lower on account of lesser production at Buenavista and IMMSA. Production of molybdenum, its main by-product, has been high due to rising production at the Peruvian mines, namely the Toquepala mine after throughput increased at the new Molybdenum plant, spurred by improvements in ore grades and recoveries at other operations. However, this might have been offset by lower production at Buenavista due to lower grades.

Copper prices have declined in the third quarter amid a stronger dollar and growing concerns about the health of the Chinese real estate market. Nevertheless, average copper prices remained higher than the year ago quarter. Average silver prices have been on a downtrend in the quarter due to reduced industrial demand and expectations of higher interest rates. Average silver prices have been down on a year-over-year basis. This is likely to get reflected in the company’s third-quarter top line. Operating cash costs are expected to have been higher in the to-be-reported quarter due to lower grades. This might have weighed on margins.

Share Price Performance

Image Source: Zacks Investment Research

The company’s shares have gained 30.7% over the past year compared with the industry’s rally of 68.0%.

Other Stocks to Consider

Here are some other Basic Materials stocks, which you may consider as our model shows that these too have the right combination of elements to post an earnings beat in their upcoming releases.

Teck Resources Ltd TECK has an Earnings ESP of +9.86% and a Zacks Rank of 1, currently.

Westlake Chemical Corporation WLK, a Zacks #1 Ranked stock, has an Earnings ESP of +1.22%.

WestRock Company WRK has a Zacks Rank #2 and an Earnings ESP of +0.25%, at present.

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The market is roaring off the recent lows. Tech is leading the way for sure, but there are other aspects of the market that could be the next big thing. One way to find these leaders of tomorrow is by leaning on the power of the Zacks Rank. Stocks which are in the good graces of our Zacks Rank have the strongest earnings trends. These strong trends provide the best chance of success in the future. It’s analysts all over Wall Street which impact our Zacks Rank. That way, we are gaining access to a breadth of knowledge, not just a singular analyst’s opinion.

One stock in the good graces of the rank is today’s Bull of the Day, Teck Resources TECK. Teck is a Zacks Rank #1 (Strong Buy) in the Mining – Miscellaneous industry. Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead and molybdenum concentrates. It also produces gold, silver, germanium, indium, and cadmium, as well as chemicals, industrial products, and fertilizers.

Teck Resources Ltd Price and Consensus

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

The reason for the favorable rank is the litany of positive earnings estimate revisions coming from analysts. Over the last sixty days, twelve analysts have increased their estimates for next year while ten have increased their numbers for the current year. The bullish move has pushed up our Zacks Consensus Estimates for the current year from $2.35 to $3.22 while next year’s numbers are up from $2.43 to $3.37. That means current year earnings growth is slated to come in at 312% while next year growth cools to 4.72%.

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Wall Street expects a year-over-year increase in earnings on higher revenues when Great Western Bancorp (GWB) reports results for the quarter ended September 2021. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 28. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus Estimate

This holding company for Great Western Bank is expected to post quarterly earnings of $0.75 per share in its upcoming report, which represents a year-over-year change of +275%.

Revenues are expected to be $111.27 million, up 9% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 0.23% 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 the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

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 Great Western Bancorp?

For Great Western Bancorp, 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 -6.87%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that Great Western Bancorp 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 Great Western Bancorp would post earnings of $0.76 per share when it actually produced earnings of $1.06, delivering a surprise of +39.47%.

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

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.

Great Western Bancorp 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.

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KELOWNA, BC, Oct. 21, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") announces that, further to its news release of October 5, 2021 announcing a private placement (the "Offering"), the Company has closed the Offering and has received $4,200,000 by the issuance of 8,400,000 flow through units (the "FT Units") at a price of $0.50 per FT Unit, each FT Unit comprised of a flow through share and one-half of one non-flow through warrant; with each whole warrant entitling the holder to acquire one common share of the Company at a price of $0.65 for a term of two years from closing.

Proceeds from the Offering will be used to fund upcoming drill programs on the Company's North Rackla Project in the Yukon.

The Company paid $203,400 in finders fees in connection with Offering.

The securities issued in the Offering are subject to a four month hold period. This hold period expires February 20, 2022 for 5,220,000 shares issued and February 22, 2022 for 3,180,000 shares.

0974052 B.C. Ltd. ("BC Ltd"), a company over which Dr. Charles Fipke, the Chairman and a control person of the Company exercises control and direction over, subscribed for 800,000 FT Units for a total subscription price of $400,000. BC Ltd acquired the FT Units for investment purposes. The Offering and the acceptance of the subscription by BC Ltd was approved by unanimous resolution of the board of directors of the Company with Dr. Fipke declaring his interest in the resolution and abstaining from voting. There was no formal valuation of the Company done in connection with the Offering nor has there been such a formal valuation in the past 24 months. The Company relied upon the exemptions contained in Section 5.5(b) and 5.7(b), of Multilateral Instrument 61-101 ("MI 61-101") to avoid the formal valuation and shareholder approval requirements of MI 61-101. For the purposes of Section 5.5(b), the Company does not have any securities listed on any of the stock exchanges set out in Section 5.5(b) and for the purposes of Section 5.7(b) the exemption was available as the consideration paid for the FT Units subscribed for by BC Ltd was less than $2,500,000.

Signed,

Chad Ulansky

Chad Ulansky
President and CEO

FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information", including statements regarding the expected use of proceeds of the private placement. Further, any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

Neither 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.

SOURCE Cantex Mine Development Corp.

View original content: http://www.newswire.ca/en/releases/archive/October2021/21/c2148.html

Vancouver, British Columbia–(Newsfile Corp. – October 21, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company", or "EMX") is pleased to announce that it has closed the acquisition of a portfolio of royalty interests and deferred payments (the "Royalty Portfolio") from SSR Mining Inc. and certain of its subsidiaries ("SSR Mining") (see EMX news release dated July 29, 2021). The Royalty Portfolio consists of 16 geographically diverse royalties, with four royalty assets at advanced stages of project development, and includes U.S. $18 million in future cash payments to be made to the owner of the Royalty Portfolio (see Figure 1 and Table 1). EMX has paid U.S. $33 million in cash and issued 12,323,048 million common shares of the Company valued at U.S. $32.5 million to SSR Mining. EMX will also make deferred and contingent payments to SSR Mining of up to U.S. $34 million if certain project advancement milestones are achieved.

Together with other recent advancements in EMX's global royalty portfolio and strengthening of cash flows across the Company's operations, the SSR transaction represents a key step in EMX's continued development as a leading royalty company.

The portfolio highlights include two royalties at Gediktepe in Turkey, which cover assets currently being developed by Lidya Madencilik Sanayi ve Ticaret A.Ş. ("Lidya"), a private Turkish company. These include a 10% NSR royalty on production from an oxide gold-silver deposit and a 2% NSR royalty on the underlying polymetallic volcanogenic massive sulfide ("VMS") mineralization. Lidya expects that initial production from Gediktepe will commence in late 2021. The Royalty Portfolio also includes advanced stage project royalties at Yenipazar (Turkey) and Diablillos (Argentina) (see summaries below), with the remaining royalty interests covering both precious metal and base metal assets in South America, Mexico, the United States (Nevada), and Canada.

The number of royalties acquired by EMX was reduced from 18 (as originally contemplated) to 16, as the operator of two royalty properties in Mexico exercised rights of first refusal to acquire the royalties under the terms of their existing royalty agreements. The total consideration for those two properties was U.S. $530,000, which has been deducted as a purchase price adjustment from the share consideration that the Company has paid. The Company also entered into a Vendor-take-back note (VTB Note) with SSR Mining pursuant to which the Company has borrowed U.S. $7.8 million from SSR Mining. The proceeds of the VTB Note will be utilized to cover VAT liability which will arise upon completion of the acquisition of the Gediktepe royalties. The VAT will be recovered by the Company's Turkish subsidiary holding the Gediktepe royalties over the next two to three years.

With the closing of the Royalty Portfolio acquisition, EMX continues to significantly strengthen its global portfolio of royalties. Gediktepe is one of several EMX royalty properties that are expected to commence commercial production during Q4, 2021. The others include the Timok development project in Serbia, where the Cukaru Peki high grade copper-gold deposit is being put into production by Zijin Mining Group Co. Ltd., and Balya North, a polymetallic Carbonate Replacement Deposit ("CRD") in western Turkey being developed by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş., a private Turkish company. The Cukaru Peki royalty was acquired by EMX in 2013 shortly after discovery of the deposit, and Balya North is an organically generated EMX royalty.

EMX's Leeville royalty in Nevada has delivered increased cash flows in recent months, with royalty production proceeds now being received from the Four Corners and Carlin East mining areas in addition to other areas on the royalty property. Together with cash flow already being received from its recently purchased Caserones copper-molybdenum royalty in Chile, EMX anticipates a significant increase in royalty revenue in 2022 from multiple assets that span four continents. See the EMX website (www.EMXroyalty.com) for further project and portfolio details.

Commercial Terms Overview. EMX paid U.S. $33 million in cash and issued 12,323,048 million common shares to SSR Mining. The number of common shares issued by EMX to SSR Mining was based on the volume-weighted average price ("VWAP") of the shares on the NYSE American stock exchange for the 20 days prior to the date of completion of the transaction (the "Closing Date"). All such shares are subject to a hold period of four months and one day from the Closing Date. SSR Mining now owns an approximate 12% undiluted equity interest in EMX.

Additional deferred payments of up to U.S. $34 million may be made by EMX to SSR Mining in consideration for the Net Profits Interest ("NPI") royalty on the Yenipazar property. These will be payable as follows: (i) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of construction of a mill or any other improvements to be used for the mining, handling, milling, beneficiation or other processing of certain mineral products on the Yenipazar property; (ii) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of commercial production at the Yenipazar property; (iii) U.S. $15,000,000 in cash, payable when EMX has received U.S. $10,000,000 in net profits interest payments under the Yenipazar NPI royalty; and (iv) U.S. $15,000,000 in cash, payable when EMX has received a second U.S. $10,000,000 in net profits interest royalty payments under the Yenipazar NPI royalty. All shares issued as consideration for the Yenipazar NPI interest will be subject to a hold period of four months and one day from the date of issue, and the issuance of such shares is subject to TSX Venture Exchange approval.

The VTB Note totals U.S. $7.85 million, bears interest at 10% per annum for the first 180 days, and will increase to 13% per annum thereafter. The VTB Note has a maturity date of December 31, 2022. The proceeds of the VTB Note have been utilized for the payment of VAT associated with the sale of the Gediktepe royalty. The VTB Note is unsecured and subordinated to the Sprott Credit Facility which was drawn to help fund the Company's acquisition of the Caserones royalty. The Company will recover the VAT totaling U.S. $7.85 million over a two to three year period as royalty income is earned in Turkey.

Royalty Portfolio Overview. As summarized in Figure 1 and Table 1, the Royalty Portfolio spans approximately 68,000 hectares across seven countries on three continents. Summaries for Gediktepe, Yenipazar and Diablillos are provided here, and further information on the Royalty Portfolio and other EMX assets can be found at www.EMXroyalty.com. Only the royalty over the Gediktepe property in Turkey is material to EMX at the present time. EMX is currently preparing a technical report on the Gediktepe property to be filed on SEDAR.

Gediktepe NSR Royalties, Western Turkey: Gediktepe comprises a polymetallic VMS system with precious metal, copper, and zinc rich domains. These include an upper-level oxide gold-silver deposit and an underlying polymetallic sulfide deposit.

The EMX Gediktepe royalties consist of: (i) a perpetual 10% NSR royalty over metals produced from the oxide gold-silver deposit after cumulative production of 10,000 gold-equivalent oxide ounces; and (ii) a perpetual 2% NSR royalty over metals produced from the sulfide zone (predominantly copper, zinc, lead, silver and gold), payable after cumulative production of 25,000 gold-equivalent sulfide ounces.

The Gediktepe property is the subject of an NI 43-101 Prefeasibility study entitled "Gediktepe 2019 Prefeasibility Study" prepared by OreWin Pty Ltd. on behalf of Alacer Gold Corp. with an effective date of Mar. 26, 2019 (the "Gediktepe Report"). The Gediktepe Report is filed on SEDAR and contains historical mining reserve and resource estimates (summarized in Tables 2.1 and 2.2).

Yenipazar NPI Royalty, Central Turkey: The Yenipazar polymetallic VMS deposit is being advanced by Virtus Mining Ltd. ("Virtus"), a private Turkish company in which Trafigura Ventures V BV is a 30% interest holder. The Yenipazar deposit was discovered in the 1990's and is the subject of a 2013 feasibility study authored on behalf of Aldridge Minerals Inc. This document is filed on SEDAR and contains historical mining reserve and resource estimates. Virtus recently updated the feasibility study for Yenipazar and is currently seeking project financing for development of the project.

EMX now retains an NPI royalty that is set at 6% until U.S. $165 million in revenues are received by the Company, after which the NPI converts to a 10% interest.

Diablillos NSR Royalty, Argentina. EMX controls a 1% NSR royalty on the Diablillos property, a deeply oxidized, high-sulfidation epithermal silver-gold deposit located in the mining friendly Province of Salta in the Argentine Puna region. Operator AbraSilver Resource Corp. (TSX-V: ABRA, "AbraSilver") has an option to acquire 100% of the Diablillos property, with one outstanding payment due to EMX on the earlier of the date on which commercial production occurs at Diablillos or July 31, 2025.

AbraSilver recently (September 2021) disclosed updated open pit constrained resource estimates for the Diablillos project's Occulto deposit as^[1]:

• Measured and Indicated Resources of 41.193 million tonnes grading 68 g/t silver and 0.76 g/t gold, yielding 90.165 million ounces of contained silver and 1.002 million ounces of contained gold, and

• Inferred Resources of 2.884 million tonnes grading 34 g/t silver and 0.70 g/t gold, yielding 3.181 million ounces of contained silver and 66 thousand ounces of contained gold.

This updated mineral resource represents a 37% increase in contained gold ounces and an 11% increase in contained silver from the previous historical resource estimate delineated in a Technical Report dated April 16, 2018. An updated Diablillos PEA is expected to be completed by AbraSilver in Q4 2021. AbraSilver continues to drill and explore multiple areas of mineralization on the property, and EMX sees excellent upside potential on the property.

Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX", as well as on the Frankfurt exchange under the symbol "6E9". Please see www.EMXroyalty.com for more information.

About SSR Mining. SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding the amount and timing of royalty payments, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures and operating costs, timelines, strategic plans, market prices for and recoveries of precious and base metal, mine life and production rates, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential", "upside" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: : failure of the counterparties to royalty agreements to make required payments, or to make such payments in a timely manner, unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the "MD&A"), and the most recently filed Revised Annual Information Form (the "AIF") for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC's EDGAR website at www.sec.gov.

Figure 1: Locations of assets in EMX's Royalty Portfolio acquired from SSR Mining

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/100509_ae5524a4c4d5b975_002full.jpg

Notes:

1. Mineral Resources were reported according to CIM guidelines and definitions.

2. The Effective Date for the Mineral Resource estimates is March 5, 2019.

3. Mineral Resources were estimated within geologic domains by either ordinary kriging or inverse distance.

4. Mineral Resources were reported at NSR cut-offs of U.S. $20.72/t for oxide and U.S. $17.79/t for sulphide using the mineral reserve metal prices (see Table 2.2) x 1.14 (+14%) and variable metal recoveries according to material and mineralization type (refer to Gediktepe 2019 Prefeasibility Study for details).

5. The Mineral Resources have been constrained using an optimised pit shell to reflect reasonable prospects of economic extraction.

6. Mineral Resources that are not classified as Mineral Reserves do not have demonstrated economic viability.

7. Mineral Resources are inclusive of Mineral Reserves, except for mining losses and grade dilution, which were determined through re-blocking of the resource model after calculation of the Mineral Resources.

8. The Mineral Resources are quoted on a 100% project basis.

The foregoing are "Historical Estimates" within the meaning of NI 43-101. Source: Section 14 of the NI 43-101 pre-feasibility study technical report titled "Gediktepe 2019 Prefeasibility Study" prepared by OreWin Pty Ltd. and filed on SEDAR by Alacer with an effective date of March 26, 2019.

A qualified person has not performed sufficient work to classify the historical resource estimates as current mineral resources, and EMX is not treating the historical estimates as current. Significant data compilation, confirmation drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current mineral resources. The historical resource estimates are considered to be reliable and relevant and are presented for the purpose of describing the extent and nature of mineralization as presently understood. The historical resource estimates should not be relied upon until verified.

Notes:

1. Mineral Reserves were reported according to CIM guidelines and definitions.

2. The Effective Date for the Mineral Reserve estimates is March 5, 2019.

3. Mineral Reserves were reported using a NSR cut-off based on metal prices of $1,300/oz Au, $18.5/oz Ag, $3.30/lb Cu, and $1.28/lb Zn, smelter terms for treatment and refining charges and transport including ocean freight for sulphide ore concentrates.

4. The recovery factors used to calculate the Mineral Reserves vary according to material and mineralization type (refer to section 15 of the Gediktepe 2019 Prefeasibility Study for further details).

5. Cut-offs applied: oxide ore $20.67/t and sulphide ore $17.74/t. Additionally, enriched mineralisation with a Cu/Zn grade ratio < 0.75 is considered to be waste.

6. Metal prices used for economic analysis to demonstrate the Mineral Reserve are Au $1,315/oz, Ag $18.0/oz, Cu $3.20/lb and Zn $1.10/lb.

7. Reported Mineral Reserves incorporate and include designed open pit mining losses and grade dilution that are not reported in the Mineral Resource.

8. Only Measured Mineral Resources (and dilution) were used to report Proven Mineral Reserves and only Indicated Mineral Resources (and dilution) were used to report Probable Mineral Reserves.

9. Mineral Reserves are a subset of, not additive to, the Mineral Resources and are quoted on a 100% project basis.

10. All monetary figures are in USD.

The foregoing are "Historical Estimates" within the meaning of NI 43-101. Source: Section 15 of the NI 43-101 pre-feasibility study technical report titled "Gediktepe 2019 Prefeasibility Study" prepared by OreWin Pty Ltd. and filed on SEDAR by Alacer with an effective date of Mar. 26, 2019. For further details on other parameters utilized in the estimates, the reader is referred to Section 15 of the Gediktepe Report.

A qualified person has not performed sufficient work to classify the historical reserve estimates as current mineral reserves, and EMX is not treating the historical estimates as current mineral reserves. Significant data compilation, confirmation drilling, re-sampling, data verification and updating of metal prices, engineering assumptions, and economic parameters may be required by a qualified person before the historical estimates can be classified as current. The historical reserve estimates are considered to be reliable and relevant, and are presented for informational purposes to describe the extent and nature of mineralization on the project as presently understood. The historical reserve estimates should not be relied upon until verified.

^[1] As reported in AbraSilver's news release dated September 15, 2021, and with an effective date of September 8, 2021. The Occulto mineral resources were estimated by independent Qualified Person Ms. Munoz of Mining Plus Consultants, and reported to CIM Definition Standards (2014). The resources were estimated using Ordinary Kriging within wireframed mineralized zones and reported within an optimized open pit based upon a) updated metal prices of $1750/oz gold and $25/oz silver and b) costs and variably calculated recoveries from previous studies (refer to the 2018 Diablillos Project Technical Report for details). The mineral resources were reported within a Whittle pit shell at a cutoff of 35 g/t silver equivalent (AgEq g/t =Ag g/t + (Au g/t *70)).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100509

It is hard to get excited after looking at Aurelia Metals' (ASX:AMI) recent performance, when its stock has declined 20% over the past three months. However, stock prices are usually driven by a company’s financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Aurelia Metals' ROE in this article.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

View our latest analysis for Aurelia Metals

How Do You Calculate Return On Equity?

The formula for ROE is:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Aurelia Metals is:

10% = AU$43m ÷ AU$421m (Based on the trailing twelve months to June 2021).

The 'return' is the income the business earned over the last year. That means that for every A$1 worth of shareholders' equity, the company generated A$0.10 in profit.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

A Side By Side comparison of Aurelia Metals' Earnings Growth And 10% ROE

To begin with, Aurelia Metals seems to have a respectable ROE. Even when compared to the industry average of 13% the company's ROE looks quite decent. Consequently, this likely laid the ground for the decent growth of 5.1% seen over the past five years by Aurelia Metals.

As a next step, we compared Aurelia Metals' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 24% in the same period.

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Aurelia Metals''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Aurelia Metals Efficiently Re-investing Its Profits?

While the company did pay out a portion of its dividend in the past, it currently doesn't pay a dividend. We infer that the company has been reinvesting all of its profits to grow its business.

Summary

On the whole, we feel that Aurelia Metals' performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see a good amount of growth in its earnings. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

(Bloomberg) — After a bumper third quarter, the world’s No. 2 iron ore miner is cutting back on lower quality supply after prices of the steelmaking ingredient plunged.

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Vale SA produced more than analysts expected and surpassed both the previous quarter and the year-ago period as part of an ongoing recovery from a 2019 tailings dam disaster and thanks to better weather.

But with iron ore futures down from peaks earlier this year and being highly volatile amid Chinese curbs on steel output and concerns over the Asian nation’s property market, the Brazilian miner is looking to defend margins.

“Production and sales strategy is based on market conditions, prioritizing value over volume, with focus on margin maximization,” Vale said Tuesday in its production report.

Vale’s shares dropped as much as 3.4% in Sao Paulo before paring some losses, to trade 2.2% lower at 12:51 p.m. local time.

Analysts foresee weaker iron-ore sales for this year and next as the Rio de Janeiro-based company focuses on reducing lower quality volumes to protect margins. Lower-than-expected shipments in the fourth quarter and 2022 “could provide some support to iron ore prices, while also improving Vale’s price realization due to an improved product mix,” Bradesco BBI analyst Thiago Lofiego said in an Oct. 19 report.

The Brazilian mining giant churned out 89.4 million metric tons in the third quarter to top the average analyst estimate of 87.3 million tons, showing the recovery is on track despite sluggish permitting in its prized deposits in northern Brazil. That may help counter a drop in shipment guidance last week by top producer Rio Tinto Group and a dip in output at BHP Group.

Vale’s sales came in only slightly ahead of the previous periods and lagged production. The company is trimming supply of lower-margin ores to the tune of 4 million tons in the fourth quarter, and possibly another 12-15 million tons next year. While 2021 output guidance was maintained, it’s likely to come in below mid range.

Bloomberg Intelligence’s baseline scenario shows a structurally oversupplied iron ore market by late 2022, with surpluses through 2024. The return of tonnage from Vale, which ships high-quality ore, is expected to account for the majority of supply growth.

Nickel Woes

Vale is also one of the world’s top nickel producers and a major copper supplier. Production of both metals fell following a strike at its Sudbury operations, with annual guidance cut. The company expects to have its Sudbury facilities back to normal this month and resume its Totten mine early next year after mine shaft repairs. Vale is scheduled to release third-quarter earnings on Oct. 28.

(Adds analysts comments and shares from fifth paragraph.)

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Noront recommends shareholders accept improved BHP offer

• BHP increases its all-cash offer to Noront shareholders to C$0.75 per share, representing a 36% premium to its previous offer, a 7% premium to the Wyloo offer and a 213% premium to Noront’s unaffected price.

• Noront supports BHP’s improved offer and recommends shareholders tender now to receive the cash consideration offered.

• The BHP offer will be open until 11:59 p.m. (Toronto time) on November 9, 2021. Shareholders have 22 days to decide to accept the full and immediate value offered by BHP.

• BHP’s offer does not require Wyloo’s support to be successful.

  • BHP’s all-cash offer provides certainty of value and liquidity.

Offer expires 11:59 p.m. (Toronto time) on November 9, 2021; for more information visit NorontTender.ca

TORONTO and MELBOURNE, Victoria, Oct. 19, 2021 (GLOBE NEWSWIRE) — BHP Lonsdale Investments Pty Ltd (“BHP Lonsdale”), a wholly owned subsidiary of BHP, and Noront Resources Ltd. (TSXV: NOT) ("Noront") announced today that BHP has agreed to increase its all-cash offer for Noront shares to C$0.75 per share (the “Offer”).

The Noront Board, considering the superior C$0.75 per share cash purchase price in the amended Offer, has determined that the proposal from Wyloo Metals Pty Ltd. (“Wyloo”), at a price of C$0.70 per share, has ceased to be a "superior proposal", and recommends the Noront shareholders tender their shares to the BHP Offer.

Shareholders have until 11:59 p.m. (Toronto Time) on November 9, 2021 to accept the increased Offer and tender their shares.

Improved Premium & Highest All-Cash Offer Available to Shareholders

BHP’s increased Offer of C$0.75 per Noront share is superior to other offers available to Noront and its shareholders. BHP had the option to match Wyloo and elected to exceed Wyloo’s proposal by C$0.05. BHP’s increased offer delivers compelling value to Noront shareholders:

213% premium over Noront’s unaffected price of C$0.24¹

36% premium over BHP’s previous offer of C$0.55 per share

7% premium over Wyloo’s latest offer of C$0.70 per share

BHP Chief Development Officer, Johan van Jaarsveld, said: “Our increased offer of C$0.75 per share provides a compelling premium for Noront shareholders and is available to shareholders now. Our offer provides shareholders with the value inherent in Noront’s portfolio of projects, including the Eagle’s Nest project, delivering shareholders who accept our offer certainty of value and immediate liquidity.”

¹ On May 21, 2021, the last trading day prior to Wyloo’s first publicly announced intention to make an offer for Noront at C$0.315 per share.

Certainty of Value Today; Protection from Execution & Dilution Risk

The Offer provides 100% cash consideration for Noront shares, providing Noront shareholders with certainty of value now while removing financing, market, regulatory and execution risks to Noront shareholders.

BHP recognizes that delivering Noront’s portfolio of projects in the Ring of Fire is expected to take many years, require significant capital investment, development of remote infrastructure, and management of numerous stakeholders. There is no certainty that shareholders remaining invested in Noront will ever realize the value for their shares offered by BHP in cash today.

Noront and BHP believe that the Offer provides Noront shareholders with the value inherent in Noront’s portfolio of projects without the long-term risks associated with the development and execution of those projects. Noront CEO, Alan Coutts, said: “This transaction provides a premium to Wyloo’s offer, and delivers certainty of value to Noront shareholders via an all-cash offer. Noront’s Board of Directors determined that BHP’s improved offer is in the best interests of the company and its shareholders and recommends Noront shareholders tender their shares to the BHP offer.”

Noront's Board of Directors, with input from its financial and legal advisors and the Special Committee, determined the improved offer is fair, from a financial point of view, to Noront shareholders (other than BHP Lonsdale and its affiliates).

The BHP Offer Does Not Require Wyloo’s Support

Wyloo’s support of the transaction is not required in order for the Offer to be successful. In order for Noront shareholders to receive the C$0.75 all-cash offer price for their shares, at least 50% of shares not owned by BHP must be tendered. Only those who tender their shares will receive the cash consideration of C$0.75 per share. If shareholders other than Wyloo support the Offer and tender their shares, the Offer will succeed.

BHP Chief Development Officer, Johan van Jaarsveld, said: “Now is the time for shareholders to decide if they want to tender to our improved offer and crystallize the compelling and full value it represents.”

To tender your shares, see shareholder information below.

For Noront shareholders
A notice of variation (the “Notice of Variation”) in respect of the Amended Offer will be mailed shortly to Noront shareholders and will be available under Noront’s profile on SEDAR at www.sedar.com and on Noront’s website at www.norontresources.com.

Tendering is quick and easy
Only those who tender their shares will receive the cash consideration of C$0.75 per share. For more information, please visit www.noronttender.ca.

Tender by 11:59 p.m. (Toronto time) on November 9, 2021

About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

About BHP
BHP is a world-leading global resources company. We extract and process minerals, oil and gas, with 80,000 employees and contractors, primarily in Australia and the Americas. Our products are sold worldwide, with sales and marketing led through Singapore and Houston, United States. Our global headquarters are in Melbourne, Australia. Our Potash head office is in Saskatoon and our head office for metals exploration is in Toronto.

Our corporate purpose is to bring people and resources together to build a better world. Our strategy is to create value by growing our exposure to a portfolio of world-class, expandable assets in future-facing commodities. We create value for our stakeholders and the communities where we operate by focusing on safety, sustainability, innovation and exceptional performance.

BHP has a strong track record in Canada
BHP has a strong track record of mining development and investment in Canada over several decades. We have invested in diamonds, potash, exploration, Carbon Capture and Storage (CCS) research, and in environmental preservation through the BHP Foundation in Canada’s boreal forest. We have built strong relationships with communities and stakeholders throughout our history in Canada. Earlier this year, BHP approved US$5.7 billion in investment for its Jansen project, for what stands to be one of the world’s largest, most modern potash mines and a significant economic driver for Saskatchewan.
www.bhp.com

Contact details

BHP

Noront

Forward looking statements

Certain statements contained in this press release contain “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.

Forward-looking statements include, but are not limited to, statements regarding: the Offer, including the anticipated timing, mechanics, funding, completion, settlement, results and effects of the Offer; reasons to accept the Offer; and the value inherent in Noront’s portfolio of projects, including the Eagle’s Nest project.

Although BHP Western Mining Resources International Pty Ltd (the “Offeror”), BHP Lonsdale and Noront believe that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of the Offeror, BHP Lonsdale and Noront that the Offer will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived, and the ability to achieve goals. The Offeror, BHP Lonsdale and Noront caution that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of the Offeror, BHP Lonsdale or Noront, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by the Offeror, BHP Lonsdale or Noront will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Noront, the Offeror or BHP Lonsdale, or their respective future results and performance.

Forward-looking information and statements in this press release are based on the Offeror’s, BHP Lonsdale’s and Noront’s beliefs and opinions at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and the Offeror, BHP Lonsdale and Noront disavow and disclaim any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Offeror or any of its affiliates or Noront.

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.

MELBOURNE (Reuters) -.

(Reporting By Rushil Dutta in Bengaluru and Melanie Burton in Melbourne Editing by Krishna Chandra Eluri & Simon Cameron-Moore)

LONDON, October 20, 2021–(BUSINESS WIRE)–Today, Rio Tinto is outlining the actions being taken to strengthen the business and improve performance. It is also unveiling a longer-term strategy to ensure it thrives in a decarbonising world and continues to deliver attractive shareholder returns, in line with its policy.

The deployment of the Rio Tinto Safe Production System is underway to ensure the Group regains its position as Best Operator. The Group is combining systematic long-term programmes with rapid improvement activities targeted at bottlenecks in order to reduce operational variability and increase resilience.

Governments are setting more ambitious targets and accelerating actions on climate change. Society at large is also demanding companies take more action to decarbonise. To meet the challenge, stay relevant and capture the opportunity Rio Tinto is raising its ambition and taking actions.

The Group is unveiling a new target to reduce its Scope 1 & 2 carbon emissions by 50 per cent by 2030, more than tripling its previous target. A 15 per cent reduction in emissions is now targeted for 2025, five years earlier than previously. These targets are supported by around $7.5 billion of direct investments to lower emissions between 2022 and 2030.

In recognition of the broader carbon footprint of the commodities it produces, Rio Tinto will accelerate its investment in R&D and development of technologies that enable its customers to decarbonise. Working in partnership with governments, suppliers, customers, academia and others Rio Tinto will continue to develop technologies like ELYSIS^TM for carbon-free aluminium and multiple pathways to produce green steel.

To meet additional demand created by the global drive to net zero emissions, Rio Tinto will prioritise growth capital in commodities vital for this transition with an ambition to double growth capex to about $3 billion a year from 2023.

Rio Tinto can decarbonise, pursue growth and continue to deliver attractive returns to shareholders due to its strong balance sheet, world-class assets and focus on capital discipline.

Rio Tinto Chief Executive Jakob Stausholm said "Rio Tinto is taking action to strengthen our business and improve our performance by unleashing the full potential of our people and assets, working in partnership with a broad range of stakeholders.

"All our commodities are vital for the energy transition and continue to benefit from ongoing urbanisation. We have a clear pathway to decarbonise our business and are actively developing technologies that will enable our customers and our customers’ customers to decarbonise.

"We are able to do this, while continuing to provide attractive returns to our shareholders in line with our policy, because we have a strong balance sheet and world-class assets that deliver strong free cash flows through the cycle."

Key points from the presentation include:

• Rio Tinto is targeting a 50% reduction in scope 1&2 emissions by 2030 and a 15% reduction by 2025 from a 2018 baseline of 32.6Mt (CO₂ equivalent – equity basis).

• ~$7.5 billion in direct capital expenditure decarbonising Rio Tinto’s assets from 2022 to 2030, with a focus on renewable power for iron ore in the Pilbara and for the Australian aluminium smelters, including $0.5 billion per year from 2022 to 2024.

• ~$200 million of incremental operating expenditure on building new capabilities, energy efficiency initiatives and R&D.

• Overall capital guidance of ~$7.5 billion in 2021 (unchanged), ~$8 billion in 2022 (previously ~$7.5 billion) and an ambition to spend between $9 billion and $10 billion per year in 2023 and 2024. This includes sustaining capital of ~$3.5 billion a year (previously $3.0-3.5 billion), of which $1.5 billion a year relates to Pilbara Iron Ore.

Iron ore

• Medium-term Pilbara iron ore system capacity of between 345 million and 360 million tonnes per year (on a 100% basis)¹.

• Decarbonisation of the Pilbara will be accelerated by targeting the rapid deployment of 1GW of wind and solar power. This would abate around 1 million tonnes of CO₂, replace natural gas power for plant and infrastructure and support early electrification of mining equipment.

• Full electrification of our Pilbara system, including all trucks, mobile equipment and rail operations, will require further gigawatt-scale renewable deployment and advances in fleet technologies.

• Options to provide a greener steelmaking pathway for Pilbara iron ore are being investigated, including with biomass and hydrogen.

Aluminium

• Rio Tinto Aluminium is the most profitable integrated aluminium business with an advantaged position in renewable energy.

• Options are progressing to switch the Boyne Island and Tomago smelters in Australia to renewable energy, which will require an estimated ~5GW (equity basis) of solar and wind power, along with a robust firming solution.

• A potential attractive structural change in the aluminium market driven by continued demand growth and supply-side constraints including ongoing pressures on fossil-fuel sourced energy.

• Development of ELYSIS^TM to eliminate carbon emissions from the smelting process is progressing, with commercial scale technology on track for 2024.

¹ Mid-term defined as upon completion of the next tranche of new and replacement mines including Western Range, Bedded Hill Top and Hope Downs 2 and Brockman Syncline to reach and sustain capacity. These mines are expected to start commissioning from 2025. To reach and sustain the upper end of the range requires the next tranche of replacement mines due between 2025 and 2027.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006262/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.

Category: general

Vale S.A.’s VALE third-quarter 2021 iron ore production was 89.4 million tons (Mt), which came in 1% higher than the year-ago quarter and 18% higher than the second quarter of 2021. The company stated that it will cut back production of low-margin iron-ore in the fourth quarter by about 4 Mt tons due to low prices. If prices do not rebound, the company plans to trim output next year as well.

The sequential improvement in iron ore production in the quarter was aided by improvement of weather-related conditions in the Northern System that boosted Serra Norte and S11D performance. It was also aided by an increase in output in Itabira operations, higher output at Vargem Grande due to dry processing, and a rise in purchases of ore from third parties.

Vale’s pellet production was down 2.6% year over year but up 4.1% sequentially to 8.3 Mt in the quarter. Third-quarter sales volume of iron ore fines and pellets was 75.9 Mt, up 2% year over year and 1% from the second quarter of 2021.

Production of nickel fell 21.8% year over year to 30.2 kt in the September-ended quarter. Compared to the second quarter of 2021, nickel production was down 27.2% due to labor disruption at Sudbury and extended maintenance at Onca Puma during the quarter.

Copper production was 69.2 kt in the quarter, down 21% year over year and 5.7% from the second quarter of 2021. The labor disruption in Sudbury impacted copper production by 16 kt in the quarter, which was offset by an improved performance at Sossego as plant availability increased in the quarter after completion of scheduled maintenance in the second quarter.

Cobalt production reached 452 metric tons in the quarter, down 27.3% from the prior-year quarter and 41.1% from the second quarter of 2021. Manganese ore production totaled 108 kt in the July-September period, 1% lower than the prior-year quarter. Production was down 4.4% sequentially due to the programmed reduction in production at Morro da Mina, in line with its mining plan.

Coal production was 2.5 Mt in the third quarter, a 78% surge from the prior-year quarter and 19% higher than the second quarter. This can primarily be attributed to improved productivity after the major plant revamp concluded earlier this year. The revamp removed important bottlenecks in the processing plants by increasing equipment availability and productivity. Gold production was down 19.8% year over year to 93,000 troy ounces in third-quarter 2021. Compared to the second quarter, gold production declined 3%.

Among other developments, Vale signed an agreement for the sale of its manganese ferroalloy assets in Minas Gerais to the Grupo VDL on Sep 28. The sale, which is subject to approval by the Administrative Council for Economic Defense, will lead to the end of Vale's activities in the production of manganese ferroalloys, thus simplifying its portfolio.

In sync with its “value over volume” approach Vale has decided to lower its supply of high-silica low-margin products by around 4 Mt in the ongoing quarter, due to weak demand and low prices. The company expects production in 2021 to fall within the lower half of its range 315-335 Mt. It added that if this scenario persists, it will reduce the offering of low-margin products in 2022 by around 12-15 Mt.

Vale has reinitiated guidance for nickel and copper production, which had earlier been placed on review citing uncertainties concerning the labor situation in Ontario, and the ramp-up of the safety and maintenance process implementation in Sossego and Salobo. For 2021, it now expects to produce nickel in the range of 165 kt to 170 kt and copper in the band of 295 kt to 300 kt. This factors in the risks associated with the scheduled resumption of operations at Totten mine and Salobo plant, and the stoppage of Onça Puma mine as well as the ramp up of all Sudbury operations.

This comes on the heels of BHP Group’s BHP announcement of production details for the quarter ended Sep 30, 2021. Total iron ore production dipped 4% to 63 Mt due to higher planned maintenance and temporary rail labor shortages related to COVID-19 related border restrictions. The company reported declines in quarterly output for copper, metallurgical coal and nickel, while petroleum and energy coal were up year over year. Last week, Rio Tinto plc RIO, reported a 4% drop in iron ore production to 83.3 Mt in the July-September quarter citing heritage management, brownfield mine replacement tie-ins and project completion delays. The company now expects to ship iron ore between 320 Mt and 325 Mt this year, down from the previous range of 325 Mt to 340 Mt as a tighter labor market in Western Australia led to delay in the completion of a new greenfield mine at Gudai-Darri and the Robe Valley brownfield mine replacement project.

Iron ore prices have been impacted this year due to weak demand in China on account of its intensified curbs on steel production. The lackluster production reports from the iron ore miners could lead to supply concerns and lend some support to iron ore prices.

Price Performance

Shares of Vale have fallen 15.2% so far this year compared with the industry’s decline of 12.7%.

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Zacks Rank & a Stock to Consider

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

A better-ranked stock in the basic materials space is Teck Resources Ltd TECK, which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Teck Resources has a projected earnings growth rate of 312% for the current fiscal year. The company’s shares have appreciated 60% so far this year.

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