Insiders who purchased PepinNini Minerals Limited (ASX:PNN) shares in the past 12 months are unlikely to be deeply impacted by the stock's 13% decline over the past week. Even after accounting for the recent loss, the AU$744k worth of stock purchased by them is now worth AU$989k or in other words, their investment continues to give good returns.

While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares.

See our latest analysis for PepinNini Minerals

PepinNini Minerals Insider Transactions Over The Last Year

The insider Peter Proksa made the biggest insider purchase in the last 12 months. That single transaction was for AU$506k worth of shares at a price of AU$0.54 each. That means that even when the share price was higher than AU$0.38 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.

Happily, we note that in the last year insiders paid AU$744k for 2.60m shares. But they sold 128.50k shares for AU$57k. In the last twelve months there was more buying than selling by PepinNini Minerals insiders. Their average price was about AU$0.29. It is certainly positive to see that insiders have invested their own money in the company. However, we do note that they were buying at significantly lower prices than today's share price. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

PepinNini Minerals is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Does PepinNini Minerals Boast High Insider Ownership?

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. PepinNini Minerals insiders own about AU$5.8m worth of shares. That equates to 34% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

What Might The Insider Transactions At PepinNini Minerals Tell Us?

It doesn't really mean much that no insider has traded PepinNini Minerals shares in the last quarter. But insiders have shown more of an appetite for the stock, over the last year. Overall we don't see anything to make us think PepinNini Minerals insiders are doubting the company, and they do own shares. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Every company has risks, and we've spotted 4 warning signs for PepinNini Minerals (of which 2 don't sit too well with us!) you should know about.

Of course PepinNini Minerals may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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.

VANCOUVER, British Columbia, October 06, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) today announced the voting results at its annual general meeting ("AGM"), which was held earlier today in Montreal, Quebec.

A total of 126,670,684 million shares, representing approximately 71.76% of the Corporation’s issued and outstanding shares, were voted in connection with the meeting. The Corporation is pleased to announce that all resolutions put forward to shareholders in the Corporation’s management information circular ("Circular") dated June 2, 2021 were overwhelmingly approved, including the election of management nominees Mark Billings, Ashwath Mehra, Rajesh Sharma, Paul Ankcorn, H. Dean Journeaux, and Charles Tarnocai.

As announced on September 22, 2021, Mr. Greg Ferron has been appointed to Fancamp’s Board of Directors (the "Board"), replacing Mr. Paul Ankcorn, who has stepped down. Mr. Mathieu Stephens has also been appointed to the Board, replacing Mr. H. Dean Journeaux who has resigned.

The shareholders of Fancamp voted to re-appoint MNP LLP, Chartered Accountants as Fancamp’s auditors for the next ensuing year. The shareholders of Fancamp also re-approved the Corporation’s "rolling10%" stock option plan.

Fancamp thanks shareholders for their consistent strong support and looks forward to moving forward with its plan to create value for all shareholders.

Advisors

Lavery, de Billy, L.L.P. and Goodmans LLP are serving as legal advisor to Fancamp. Harris & Company LLP is serving as litigation counsel to Fancamp. Kingsdale Advisors is acting as strategic shareholder and communications advisor to Fancamp. Koffman Kalef LLP is serving as legal advisor to the Special Committee.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005006252/en/

Contacts

Rajesh Sharma, Chief Executive Officer
+1 (604) 434 8829
info@fancamp.ca

Debra Chapman, Chief Financial Officer
+1 (604) 434 8829
info@fancamp.ca

VANCOUVER, British Columbia, October 06, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange:FNC) is pleased to announce that it has successfully acquired a total of 2,348,485 common shares ("ScoZinc Shares") of ScoZinc Mines Ltd. ("ScoZinc") on October 5, 2021, further to Fancamp’s news release dated September 16, 2021. Of the 2,348,485 ScoZinc Shares, Fancamp acquired 1,969,697 ScoZinc Shares by way of private placement at $0.66 per share for a total purchase price of $1,300,000, of which a termination fee of $300,000 payable to ScoZinc was credited towards the purchase price and Fancamp paid the balance of $1,000,000 in cash, and 378,788 ScoZinc Shares at a deemed issue price of $0.66 per share in settlement of an outstanding loan of $250,000 to ScoZinc (the "Transaction"). The ScoZinc Shares are subject to a hold period expiring February 6, 2022.

Immediately prior to the closing of the Transaction, Fancamp had no beneficial ownership of any ScoZinc Shares. Upon closing of the Transaction, Fancamp currently has beneficial ownership of 2,348,485 ScoZinc Shares, representing 13.1% of the outstanding ScoZinc Shares, a total increase of 13.1% of Fancamp’s beneficial shareholding percentage in the ScoZinc Shares.

Fancamp has acquired the ScoZinc Shares for investment purposes. Fancamp may acquire additional ScoZinc Shares or dispose of ScoZinc Shares (through market or private transactions) from time to time.

A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com) or from Debra Chapman at Fancamp at +1 (604) 434 8829.

About Fancamp Exploration Ltd. (TSX-V:FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005322/en/

Contacts

Rajesh Sharma, Chief Executive Officer
+1 (604) 434 8829
info@fancamp.ca

Debra Chapman, Chief Financial Officer
+1 (604) 434 8829
info@fancamp.ca

TORONTO, October 06, 2021–(BUSINESS WIRE)–Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Gold Resource Corporation ("GORO") (NYSE American: GORO) providing for the acquisition by GORO of all the issued and outstanding common shares of Aquila by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "Transaction").

As announced by Aquila on September 7, 2021, pursuant to the Transaction GORO will, through a wholly-owned subsidiary, acquire all the issued and outstanding Aquila shares for 0.0399 of a GORO share per Aquila share (the "Exchange Ratio"). Based upon the 20-day volume-weighted average price ("VWAP") of GORO’s shares on the NYSE American stock exchange on September 3, 2021, being the last trading day prior to the date of the announcement of the Transaction, the Exchange Ratio represents a 29% premium to the 20-day VWAP of Aquila’s shares on the Toronto Stock Exchange as of such date.

Upon closing of the Transaction, the existing GORO and Aquila shareholders will own approximately 85.1% and 14.9%, respectively, of the combined company on a fully diluted basis.

Barry Hildred, Executive Chair of Aquila, commented, "We believe strongly that the Transaction outlined in the Arrangement Agreement provides significant benefits to Aquila shareholders. GORO has a strong balance sheet, it owns a consistently profitable mine in the Americas, and it has a highly accomplished technical and operating team. As such, this Transaction materially de-risks the financing and development of the Back Forty Project for the benefit of our stakeholders."

Guy Le Bel, President & CEO of Aquila, added, "The new Gold Resource Corporation will be a multi-jurisdictional, diversified precious and base metal producer with an attractive growth profile underpinned by the Back Forty Project. We look forward to closing the Transaction in short order."

Strategic Rationale for the Transaction

As previously announced on September 7, 2021, the benefits of the Transaction to GORO and Aquila shareholders include the following:

• Enhanced Market Presence and Re-Rating Potential. GORO currently benefits from inclusion in the VanEck Junior Gold Miners ETF (the "GDXJ") and from an average daily trading volume of approximately 1 million shares, trailing three months. The Transaction is intended to result in the Back Forty Project being placed into production on a more accelerated basis, funded by cash flow generation, thus elevating the combined company to intermediate producer status. Following the completion of the Transaction, GORO is expected to continue to be included in the GDXJ and to benefit from an enhanced capital markets profile in the United States and Canada, as well as increased trading liquidity and broadened appeal to global index, resource, and generalist investors. This offers the potential for a re-rating to a multiple more in line with other intermediate gold producers.

• Enhanced Project and Jurisdictional Diversification. Each of GORO and Aquila is currently a single-asset, single-jurisdiction company. Through the Transaction, GORO and Aquila shareholders will have the opportunity to participate in the ongoing growth of a multi-jurisdictional, diversified precious and base metal producer with exposure to gold, silver, zinc, copper and lead through GORO’s producing Don David Gold Mine in Oaxaca, Mexico and Aquila’s Back Forty Project in Menominee County, Michigan.

• Growth Profile and Financial Strength of Combined Company. The combined company is expected to benefit from a peer leading growth profile, a robust balance sheet with no debt and cash of US$30.2 million at June 30, 2021, free cash flow generation from its Don David Gold Mine and the synergies that generally accrue from scale in the areas of general and administrative expenses, from less duplication of salaries, wages and other public company expenses, improved concentrate sales and marketing and supply chain efficiencies.

• Materially De-Risks the Financing and Development of the Back Forty Project for Aquila Shareholders. Benefitting from the free cash flow generated by the Don David Gold Mine, Aquila shareholders will not be diluted by a near-term equity financing that would otherwise be required to advance the Back Forty Project through the final stages of permitting and engineering. GORO is supportive of Aquila’s project development plans including continuing working towards an optimized Feasibility Study. The combined Company’s position of financial strength is also expected to result in an improved ability to access required additional financing to fund the Back Forty Project’s construction capital expenditures.

• All-Stock Transaction Enables Aquila Shareholders to Maintain Upside Exposure. Through their ownership in the combined company, Aquila shareholders will maintain exposure to the value that is expected to be unlocked as the Back Forty Project is advanced towards construction and production. Despite being a proven gold producer, GORO currently trades at only approximately 2.5 times free cash flow from operations. Aquila shareholders will participate in the anticipated re-rating of GORO from a one mine company in Mexico to a two-mine company with jurisdictional diversification.

• Experienced Management Team. The combined company will benefit from GORO’s and Aquila’s technical and operational teams’ expertise in polymetallic open pit and underground mines. The GORO executive team has a demonstrated record of success in developing and operating mining projects in the Americas.

• Demonstrated Consistent Dividend History. Post-Transaction, GORO intends to continue to pay dividends in accordance with its past practice. GORO has made consistent dividend payments to its investors for more than ten years.

Transaction Summary

The Transaction will require the approval of (i) 66⅔ percent of the votes cast by Aquila shareholders and (ii) a simple majority of the votes cast by the minority shareholders (excluding shareholders whose votes are required to be excluded pursuant to Multilateral Instrument 61 – 101) at a special meeting of shareholders (the "Aquila Shareholder Meeting"). The Aquila Shareholder Meeting is scheduled to be held on November 17, 2021. The Transaction is also subject to approval by the Ontario Superior Court of Justice (Commercial List) and applicable stock exchange approvals. The Transaction does not require the approval of GORO’s shareholders.

In addition to shareholder, court and regulatory approvals, the Transaction is also subject to the satisfaction of certain other closing conditions that are customary for a transaction of this nature, and each of GORO and Aquila has provided appropriate interim period covenants regarding the operation of its business in the ordinary course. The Arrangement Agreement includes customary deal protection provisions pursuant to which Aquila has agreed not to solicit any other acquisition proposal (subject to customary fiduciary out rights), has agreed to grant GORO the right to match any superior proposal, and will pay a termination fee of US$1,000,000 to GORO if the Arrangement Agreement is terminated in certain circumstances.

Details of the Transaction and the Arrangement Agreement will be set out in the management information circular to be prepared and mailed to Aquila shareholders in connection with the Aquila Shareholder Meeting.

Subject to all conditions precedent to completion of the Transaction being met, the Transaction is expected to close in late November 2021. In connection with the closing of the Transaction, Aquila will apply to have its shares delisted from the Toronto Stock Exchange.

Support for the Transaction from Key Aquila Stakeholders

Each of Orion Mine Finance and Hudbay Minerals Inc., which hold 28.3% and 10.4%, respectively, of the issued and outstanding Aquila shares, has entered into a voting support agreement with GORO pursuant to which they have agreed to vote their Aquila shares in favour of the Transaction. In addition, all of the directors and officers of Aquila holding approximately 1.9% of the issued and outstanding Aquila shares in aggregate have also executed a voting support agreement.

Osisko Bermuda Limited, which is a wholly-owned subsidiary of Osisko Gold Royalties Ltd, and a party to gold and silver stream agreements with Aquila relating to the Back Forty Project, has also reiterated that it considers GORO to be an approved purchaser under those agreements, and that it is supportive of the Transaction.

Board Approvals

The Arrangement Agreement has been unanimously approved by the boards of directors of both GORO and Aquila. The Aquila board’s approval of the Arrangement Agreement was based in part on the unanimous recommendation of a special committee of independent directors of Aquila which was appointed to consider the Transaction. The board of Aquila has received an opinion from PI Financial Corp. that based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration to be received by Aquila shareholders pursuant to the Transaction is fair, from a financial point of view, to Aquila shareholders.

Advisors

Goodmans LLP is Aquila’s Canadian legal advisor and Scotiabank and PI Financial Corp. are Aquila’s financial advisors.

ABOUT AQUILA

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development‐stage company focused on high grade polymetallic projects in the Upper Midwest, USA. Aquila’s experienced management team is currently advancing pre-construction activities for its flagship 100%‐owned gold and zinc‐rich Back Forty Project in Michigan.

The Back Forty Project is a volcanogenic massive sulfide deposit with open pit and underground potential located along the mineral‐rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Back Forty contains approximately 1.1 million ounces of gold and 1.2 billion pounds of zinc in the Measured & Indicated Mineral Resource classifications, with additional exploration upside. An optimized Feasibility Study for the Project is underway.

Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.

ABOUT GOLD RESOURCE CORPORATION

Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close the acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.

Cautionary statement regarding forward-looking information

This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In particular, this news release contains forward-looking information pertaining to the following: statements regarding the Transaction, including with respect to the benefits of the Transaction and expectations regarding the combined company (including its growth profile and resource profile, the development of the Back Forty Project, cash flow generation from the Don David Gold Mine, and its market presence and re-rating potential and expectations regarding the payment of dividends); the timing of key Transaction milestones and closing; the ability of GORO and Aquila to satisfy the conditions to and to complete the Transaction; and expectations regarding the impact of the Transaction on GORO and Aquila including in respect of anticipated financial and operating results, strategy and business, and on stakeholders in general. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the satisfaction of the conditions precedent to the closing of the Transaction (including the obtaining of all shareholder, court, and regulatory approvals); risks associated with the Transaction and acquisitions generally; the Arrangement Agreement may be terminated in certain circumstances; Aquila will incur costs even if the Transaction is not completed; all necessary approvals and consents may not be obtained; uncertainty regarding the ability of the parties to complete all Transaction milestones on the intended timing; inherent risks of mining exploration, development and production operations; economic factors affecting the Company and/or GORO; the integration of the businesses of the Company and GORO; political conditions and the regulatory environment in the United States and Mexico; and the scope, duration, and impact of the COVID-19 pandemic on the Company and GORO as well as the scope, duration and impact of government action aimed at mitigating the pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’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. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005518/en/

Contacts

Guy Le Bel, President & CEO, Director
Tel: 450.582.6789
glebel@aquilaresources.com

David Carew, VP Corporate Development & IR
Tel: 647.943.5677
dcarew@aquilaresources.com

DENVER, CO / ACCESSWIRE / October 6, 2021 / Gold Resource Corporation ( " GRC " or the " Company ") (NYSE American:GORO) is pleased to announce that it has entered into a definitive arrangement agreement (the " Arrangement Agreement ") with Aquila Resources Inc. (" Aquila ") (TSX:AQA)(OTCQB:AQARF) providing for the acquisition by GRC of all the issued and outstanding common shares of Aquila by way of a plan of arrangement under the Business Corporations Act (Ontario) (the " Transaction ").

As announced by GRC on September 7, 2021, pursuant to the Transaction GRC will, through a wholly-owned subsidiary, acquire all the issued and outstanding Aquila shares for 0.0399 of a GRC share per Aquila share (the " Exchange Ratio "). Based upon the 20-day volume-weighted average price (" VWAP ") of GRC's shares on the NYSE American stock exchange on September 3, 2021, being the last trading day prior to the date of the announcement of the Transaction, the Exchange Ratio represents a 29% premium to the 20-day VWAP of Aquila's shares on the Toronto Stock Exchange as of such date. The Exchange Ratio represents consideration of C$0.09 per Aquila share (the " Per Share Price "), reflecting a premium of 12.5%, based upon the closing prices of the Aquila shares and the GRC shares on September 3, 2021. The Per Share Price implies an aggregate acquisition price for 100% of the outstanding Aquila shares of approximately C$30.9 million.

Upon closing of the Transaction, the existing GRC and Aquila shareholders will own approximately 85.1% and 14.9%, respectively, of the combined company on a fully diluted basis.

Allen Palmiere, President and Chief Executive Officer of GRC, said: "This Transaction offers an attractive opportunity to the shareholders of Aquila and GRC to develop the Back Forty Project using GRC's strong balance sheet and cash flows. In addition, the combination of our complementary gold-rich assets will enhance both our mineral inventory and jurisdiction diversification. The announcement by Aquila yesterday, that it had closed the sale of its Bend and Reef exploration properties, was an important step in the process for signing the Arrangement Agreement. With this Transaction, we look forward to becoming a new intermediate gold producer with a peer leading growth profile."

Strategic Rationale for the Transaction
As previously announced on September 7, 2021, the benefits of the Transaction to GRC and Aquila shareholders include the following:

• Accretive Transaction for GRC Shareholders. The Transaction is expected to be immediately accretive to GRC shareholders on a net asset value basis.

• Significantly Improved Gold Resource Profile. Based upon the parties' respective public disclosure and GRC's technical due diligence to date on the Back Forty Project, GRC anticipates that its gold resources have the potential to increase by in excess of 500% upon completion of the Transaction.

• Growth Profile and Financial Strength of Combined Company. The combined company is expected to benefit from a peer leading growth profile, a robust balance sheet with no debt and cash of US$30.2 million at June 30, 2021, free cash flow generation from its Don David Gold Mine and the synergies that generally accrue from scale in the areas of general and administrative expenses, from less duplication of salaries, wages and other public company expenses, improved concentrate sales and marketing and supply chain efficiencies. Its position of financial strength is expected to result in an improved ability to access required additional financing to fund the Back Forty Project's capital expenditures.

• Enhanced Project and Jurisdictional Diversification. Each of GRC and Aquila is currently a single-asset, single-jurisdiction company. Through the Transaction, GRC and Aquila shareholders will have the opportunity to participate in the ongoing growth of a multi-jurisdictional, diversified precious and base metal producer with exposure to gold, silver, zinc, copper and lead through GRC's producing Don David Gold Mine in Oaxaca, Mexico and Aquila's Back Forty Project in Menominee County, Michigan.

• Enhanced Market Presence and Re-Rating Potential. GRC currently benefits from inclusion in the VanEck Junior Gold Miners ETF (the " GDXJ ") and from an average daily trading volume of approximately 1 million shares, trailing three months. The Transaction is intended to result in the Back Forty Project being placed into production on a more accelerated basis, funded by cash flow generation, thus elevating the combined company to intermediate producer status. Following the completion of the Transaction, GRC is expected to continue to be included in the GDXJ and to benefit from an enhanced capital markets profile in the United States and Canada, as well as increased trading liquidity and broadened appeal to global index, resource, and generalist investors. This offers the potential for a re-rating to a multiple more in line with other intermediate gold producers.

• Experienced Management Team. The combined company will benefit from GRC's and Aquila's technical and operational teams' expertise in polymetallic open pit and underground mines. The GRC executive team has a demonstrated record of success in developing and operating mining projects in the Americas.

• Immediate and Significant Premium to Aquila Shareholders. Based on the 20-day VWAPs of the GRC shares and the Aquila shares, the Transaction offers an immediate and significant premium to Aquila's shareholders of 29%. Given the current market environment and lack of liquidity for the shares of Aquila, GRC continues to believe that this a compelling value proposition.

Demonstrated Consistent Dividend History. Post-Transaction, GRC intends to continue to pay dividends in accordance with its past practice. The recent dividend of US$0.01 per GRC share, paid to shareholders on September 30, 2021, continues the more than ten years of consistent dividend payments by GRC.

Support for the Transaction from Key Aquila Stakeholders

• Each of Orion Mine Finance and Hudbay Minerals Inc., which hold 28.3% and 10.4%, respectively, of the issued and outstanding Aquila shares, has entered into a voting support agreement with GRC pursuant to which they have agreed to vote their Aquila shares in favour of the Transaction. In addition, all of the directors and officers of Aquila holding approximately 1.9% Aquila shares in aggregate have also executed a voting support agreement.

• Osisko Bermuda Limited which is a wholly-owned subsidiary of Osisko Gold Royalties Ltd and a party to gold and silver stream agreements with Aquila relating to the Back Forty Project, has also reiterated that it considers GRC to be an approved purchaser under those agreements, and that it is supportive of the Transaction.

Board Approvals
The Arrangement Agreement has been unanimously approved by the boards of directors of both GRC and Aquila. The Aquila board's approval of the Arrangement Agreement was based in part on the unanimous recommendation of a special committee of independent directors of Aquila which was appointed to consider the Transaction. The board of Aquila has received an opinion from one of its financial advisors, PI Financial Corp., that based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration to be received by Aquila shareholders pursuant to the Transaction is fair, from a financial point of view, to Aquila shareholders.

Transaction Summary
The Transaction will require the approval of 66⅔ percent of the votes cast by Aquila shareholders at a special meeting of shareholders (the " Aquila Shareholder Meeting "). The Aquila Shareholder Meeting is scheduled to be held on November 17, 2021. The Transaction is also subject to approval by the Ontario Superior Court of Justice (Commercial List) and applicable stock exchange approvals. The Transaction does not require the approval of GRC's shareholders.

In addition to shareholder, court and regulatory approvals, the Transaction is also subject to the satisfaction of certain other closing conditions that are customary for a transaction of this nature, and each of GRC and Aquila has provided appropriate interim period covenants regarding the operation of its business in the ordinary course. The Arrangement Agreement includes customary deal protection provisions pursuant to which Aquila has agreed not to solicit any other acquisition proposal (subject to customary fiduciary out rights), has agreed to grant GRC the right to match any superior proposal, and will pay a termination fee of US$1,000,000 to GRC if the Arrangement Agreement is terminated in certain circumstances.

Details of the Transaction and the Arrangement Agreement will be set out in the management information circular to be prepared and mailed to Aquila shareholders in connection with the Aquila Shareholder Meeting. A copy of the Arrangement Agreement will be filed with the Securities and Exchange Commission on Form 8K and will be available on GRC's website under the Reports and Filings tab located in the Investors section located here: https://goldresourcecorp.com/investors/reports-and-filings/ .

Subject to all conditions precedent to completion of the Transaction being met, the Transaction is expected to close in late November 2021. In connection with the closing of the Transaction, Aquila will apply to have its shares delisted from the TSX.

Advisors
Fasken Martineau DuMoulin LLP and Davis Graham & Stubbs LLP are GRC's Canadian and U.S. legal advisors, respectively, and Beacon Securities Limited is GRC's financial advisor.

About Gold Resource Corporation
Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close our acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

About Aquila Resources Inc.
Aquila Resources Inc. is a development‐stage company focused on the development its 100%-owned gold-rich Back Forty Project in Michigan.

Forward-Looking Information and other Cautionary Statements
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate", "believe", "estimate", "intend", "propose", "potential" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation: statements regarding the Transaction, including statements with respect to the benefits of the Transaction and expectations regarding the combined company (including its growth profile and resource profile, the development of the Back Forty Project, cash flow generation from the Don David Gold Mine, its market presence and re-rating potential and expectations regarding the payment of dividends); the timing of key Transaction milestones and closing; the ability of GRC and Aquila to satisfy the conditions to and to complete the Transaction; and expectations regarding the impact of the Transaction on GRC and Aquila including in respect of anticipated financial and operating results, strategy and business, and on stakeholders in general.

All forward-looking statements in this press release are based upon information available to GRC on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Such risks and uncertainties and other factors that could cause actual results and future to differ from those expressed or implied by the forward-looking statements include, but are not limited to: the satisfaction of the conditions precedent to the closing of the Transaction (including the obtaining of all shareholder, court and regulatory approvals); risks associated with the Transaction and acquisitions generally; the Arrangement Agreement may be terminated in certain circumstances; GRC will incur costs even if the Transaction is not completed; all necessary approvals and consents may not be obtained; uncertainty regarding the ability of the parties to complete all Transaction milestones on the intended timing; inherent risks of mining exploration, development and production operations; economic factors affecting the Company and/or Aquila; the integration of the businesses of the Company and Aquila; political conditions and the regulatory environment in the United States and Mexico; and the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic. Additional factors that could cause or contribute to such differences include, but are not limited to, those discussed in the periodic and current reports filed by the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020.

For further information please contact:

Gold Resource Corporation
Ann Wilkinson, VP, IR and Corporate Affairs
Phone: 720-459-3851
E-mail: Ann.Wilkinson@GRC-USA.com

SOURCE: Gold Resource Corporation

View source version on accesswire.com:
https://www.accesswire.com/666971/Gold-Resource-Corporation-Enters-Into-Arrangement-Agreement-With-Aquila-Resources-Inc

TORONTO, Oct. 6, 2021 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces that the report for the third quarter ended September 30, 2021 will be published on Wednesday, October 27, 2021.

Third Quarter 2021 Results Conference Call and Webcast

The Company will hold a telephone conference call and webcast at 08:00 ET, 14:00 CET on Thursday, October 28, 2021. Conference call details are provided below. Please dial in 15 minutes prior to the call start to ensure placement into the conference on time.

Call-in number for the conference call (North America): +1 647 788 4922
Call-in number for the conference call (North America Toll Free): +1 877 223 4471
Call-in number for the conference call (Sweden): 020 012 3522

To view the live webcast presentation, please log on using this direct link:
https://onlinexperiences.com/Launch/QReg/ShowUUID=AF1E3F1C-52B3-4392-A5C8-9604B9B04786.

The presentation slideshow will also be available in PDF format on the Lundin Mining website www.lundinmining.com before the conference call.

A replay of the telephone conference will be available after the completion of the call through November 28, 2021.

Call-in numbers for the replay are (North America): +1 800 585 8367 or (internationally) +1 416 621 4642.

The passcode for the replay is: 2057837

A replay of the webcast will be available by clicking on the direct link above.

About Lundin Mining

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

SOURCE Lundin Mining Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/06/c8534.html

VANCOUVER, British Columbia, Oct. 06, 2021 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) will release its third quarter 2021 earnings results on Wednesday, October 27, 2021 before market open.

The company will hold an investor conference call to discuss the third quarter 2021 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Wednesday, October 27, 2021. The conference call dial-in is 416.340.2217 or toll free 800.806.5484, quote 1852700 if requested. Media are invited to attend on a listen-only basis.

A live audio webcast of the conference call, together with supporting presentation slides, will be available on Teck's website at www.teck.com.

The recording of the live audio webcast will be available from 3:00 p.m. Pacific time October 27, 2021 on Teck’s website at www.teck.com.

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

Investor Contact:
Ellen Lai
Coordinator, Investor Relations
604.699.4257
ellen.lai@teck.com

Media Contact:
Chris Stannell
Public Relations Manager
604.699.4368
chris.stannell@teck.com

The investment bank rejiggered its list of favorite steel names. Even the new winners were having a down day.

Freeport-McMoRan (FCX) closed the most recent trading day at $32.20, moving -1.56% from the previous trading session. This change lagged the S&P 500's 1.05% gain on the day.

Prior to today's trading, shares of the mining company had lost 9.49% over the past month. This has lagged the Basic Materials sector's loss of 8.25% and the S&P 500's loss of 5.07% in that time.

FCX will be looking to display strength as it nears its next earnings release. On that day, FCX is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 186.21%. Meanwhile, our latest consensus estimate is calling for revenue of $6.17 billion, up 60.3% from the prior-year quarter.

FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.97 per share and revenue of $23.04 billion. These results would represent year-over-year changes of +450% and +62.27%, respectively.

It is also important to note the recent changes to analyst estimates for FCX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. FCX is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, FCX currently has a Forward P/E ratio of 11.02. This valuation marks a discount compared to its industry's average Forward P/E of 12.39.

It is also worth noting that FCX currently has a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining – Non Ferrous industry currently had an average PEG ratio of 0.55 as of yesterday's close.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.

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VANCOUVER, BC / ACCESSWIRE / October 5, 2021 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") announces promising results from a program of geological mapping, prospecting and hand trenching, which was recently completed at its Kluane gold project in southwestern Yukon (Figure 1). The project hosts an extensive system of high-grade gold veins, one of which was trenched in 2021. Highlights from recent trenching at the Rikus Vein include:

• 20.54 g/t gold over 2.1 m including 40.5 g/t over 0.98 m;

• 13.84 g/t gold over 2 m including 27.2 g/t gold over 1 m;

• 8.60 g/t gold over 5 m including 18.6 g/t over 2 m;

• 7.83 g/t gold over 1.65 m including 20.6 g/t gold over 0.57 m; and

• 6.48 g/t gold over 2.2 m including 11.25 g/t gold over 1.2 m.

"Hand trenching has now identified attractive drill targets in several locations within this camp-scale property, and follow-up of strong geochemical and geophysical anomalies offers excellent potential for additional discoveries" states Doug Eaton, CEO of Strategic Metals. "We believe that the Kluane project could host the next multi-million ounce deposit in Yukon".

The Kluane project is located 45 km north-northwest of Haines Junction, 29 km west of the Aishihik hydro-electric dam and 10 km from the closest road. It lies within the Traditional Territory of the Champagne and Aishihik First Nation, which have signed a land claim agreement with Yukon and Canada and an exploration benefits agreement with the Company. The project comprises 279 contiguous mineral claims encompassing an area totalling approximately 5550 hectares (55.5 sq. km.).

The Kluane vein system straddles the Kluhini River thrust fault, which juxtaposes Cretaceous and older, schist and paragneiss units of Kluane schist to south with granodiorite and quartz-diorite phases of the Paleocene, Ruby Range batholith to the north. Mineralized veins have been discovered across the entire project area, in both the metamorphic and intrusive rocks. The 2021 hand trenches are located in the southeastern part of the claim block where the veins are discordant to foliation and layering in the metamorphic host rocks (Figures 2 and 3). The trenches and nearby historical drill holes trace the mineralization over a length of 710 m and through a vertical range of 185 m. The following table shows results from the trenches. Historical drilling supports the trench results but the relatively shallow, small diameter holes had poor core recoveries, averaging about 50% in veins. Drill results appear as an insert on Figure 2.

Mineralized veins contain sulphide minerals and occasionally coarse native gold, in a gangue comprised of milky white, granular to massive quartz and lesser, tan to cream carbonate. The sulphide minerals occur as disseminations and in semi-massive bands. Arsenopyrite is by far the most abundant sulphide mineral but traces of galena, chalcopyrite and pyrite have been noted. Most mineralized veins are scorodite-stained at surface because sulphide minerals are usually wholly or partially oxidized. Mineralized veins rarely outcrop and are usually marked by north-trending recessive topographic linears. Samples of mineralized vein material typically contain greater than 5 g/t gold, with the highest grade rock sample assaying 225 g/t gold (Figure 4).

Soil geochemical sampling has outlined numerous strong anomalies for gold and/or arsenic, some of which form relatively continuous bands that are more than 2000 m long. Several of the soil anomalies coincide with the surface traces of known veins, but many others are unexplained. Peak soil values are 3280 ppb gold and 7350 ppm arsenic (Figures 5 and 6). A horizontal-loop electromagnetic (HLEM) survey that was conducted over part of the property identified a number of conductors, which coincide with known veins and soil geochemical anomalies (Figure 4). Some of these conductors are in areas of deep and/or frozen overburden, which has hampered prospecting and trenching efforts. Property-wide LiDAR imaging has highlighted several recessive linears that have not been systematically prospected or soil sampled (Figure 4).

Age dating and tectonic reconstruction to allow for displacement along the nearby Denali fault suggest that the veins at the Kluane project may belong to the same metallogenic event as the highly-productive orogenic veins of the Juneau gold belt, located to the south in Alaska (Figure 1). Mines in the Juneau belt produced at total of 6.7 million oz of gold prior to 1945 and production continues at the Kensington Mine, which is owned by Coeur Mining. However, magnetic data and strong positive correlations of gold with tungsten and bismuth, suggest that there may also be some over-printing by an intrusion-related hydrothermal system at the Kluane project.

Rock sample preparation and multi-element analyses were carried out at ALS in Whitehorse, YT and North Vancouver, BC, respectively. Each sample was dried, fine crushed to better than 70% passing 2 mm and then a 250 g split was pulverized to better than 85% passing 75 microns. The fine fractions were analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). An additional 50 g charge was further analysed for gold by gravimetric analysis (Au-GRA22).

Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

About Strategic Metals Ltd.

Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of $7.5 million and large shareholdings in a number of active mineral exploration companies including 40% of Broden Mining Ltd., 38.9% of GGL Resources Corp., 33.5% of Rockhaven Resources Ltd., 19.9% of Honey Badger Silver Inc., 19.2% of Precipitate Gold Corp. and 18.7% of Silver Range Resources Ltd. All of these companies are well funded and are engaged in promising exploration projects. Strategic also owns 21.9% of Terra CO2 Technologies Holdings Inc., a private Delaware corporation which recently completed a US$9.2 million financing to advance its environmentally-friendly, cost-effective alternative to Portland cement. The current value of Strategic's stock portfolio, excluding Broden is approximately $22 million.

ON BEHALF OF THE BOARD

"W. Douglas Eaton"

President and Chief Executive Officer

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:

Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568

Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.com

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 based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Strategic Metals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/666751/Strategic-Metals-Exposes-21-m-Grading-2054-gt-Gold-at-Its-Kluane-Project-Southwestern-Yukon

VANCOUVER, British Columbia, Oct. 05, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX: DNT, BVL: DNT) ("Candente Copper", "the Company") is pleased to announce the appointment of Harbor Access LLC, a strategic Investor Relations firm with offices in the US and Canada. Harbor Access will provide Investor Relations support and investor outreach to the Company.

“This latest appointment is part of our new outreach program and greater transparency of all that we are doing at Candente Copper. We are in the midst of a strong copper bull market and want to ensure that our evolving investment opportunity is seen and heard by more investors,” stated Joanne Freeze, President and CEO of Candente Copper.

The initial term of the contract is for six months with a monthly retainer of US$7,500.

“We are excited to work with Joanne and her team at Candente Copper, to build upon the work they have done so far and expand their Investor Relations program,” commented Jonathan Paterson, Managing Partner Harbor Access.

About Harbor Access
Harbor Access is a full-service strategic Investor Relations firm with unrivalled access to North American and European institutional investors. Harbor Access takes a measured approach to developing or recalibrating a client’s investment story.

About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company’s most advanced project is its 100% owned Cañariaco project, which includes the Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

Ausenco Engineering Inc. has been engaged to conduct an updated PEA to evaluate a new development strategy for the Cañariaco Norte Project. The updated PEA will evaluate new options (identified in the recently completed Desktop Study) to reduce both the CapEx and OpEx from the analyses conducted between 2010 and 2014. The updated PEA study is estimated to be completed before the end of Q4 2021.

Geometallurgical modelling of the deposit and updated smelting costs have indicated that the Outotec Roaster proposed during previous studies will not be required, and therefore it will not be contemplated in the PEA.

Tailings storage methodologies which could improve ESG practices will be assessed in more detail as part of the PEA. The scope of work will include cost-effective mining, process plant and infrastructure design concepts, as well as managing the overall NI 43-101 PEA to drive value-adding initiatives across the entire project, while meeting Candente Copper’s ESG vision.

Joanne C. Freeze, P.Geo., CEO, is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. She has reviewed and approved the contents of this release.

This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to the potential for discovery on the Cañariaco Property and other statements that are not historical facts including comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, the completion of a favourable PEA and the expected results thereof and the acquisition of various permits. While such forward-looking information is expressed by Candente Copper in good faith and believed by Candente Copper to have a reasonable basis, they address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Candente Copper’s MD&A. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation protection for forward-looking statements. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, metal prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Candente Copper expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo.
President, CEO and Director
___________________________________
For further information please contact:

info@candentecopper.com
www.candentecopper.com

NR-140

Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis" or the "Company") is pleased to announce initial drill results from the Company's maiden 20,000 metre (m) drill program at its 100% owned Ranch Gold-Copper Project, located in the Golden Horseshoe of north-central British Columbia, Canada. Strongly altered zones from the first three holes at the Bonanza Zone were selected for rushed analysis, the results are presented in Table 1.

Highlights

• Drill hole 21BNZDD001 returned 34.00 m core length of 19.56 g/t Au at the Bonanza Gold Zone; including 15.00 m of 41.64 g/t Au and 7.00 m of 82.48 g/t Au from a depth of only 26 metres downhole (Table 1).

• Similarly drill hole 21BNZDD003, a 15 metre step out from 21BNZDD001 intersected high-grade gold mineralization essentially at surface returning 24.86 m of 9.53 g/t Au including 5.65 m of 28.72 g/t Au.

• Of the planned 20,000 m drill program, over 6,000 metres has been completed to date at the Bonanza and Ridge Gold Zones that includes confirmation, expansion, and exploration drilling (Figure 1).

• Two diamond drill rigs are currently turning at Bonanza, but will shortly be moving to the Thesis 2 & 3 Gold Zones to complete a similar confirmation and expansion program.

• Third drill rig added.

  • A track mounted reverse circulation (RC) drill rig has recently been added and is testing over 10 new exploration targets at the heart of the project.

• Vuggy silica and pervasive silicification, with local hydrothermal brecciation, are the best indicators of elevated gold within the high sulphidation epithermal alteration envelope. Additionally, historical drill logs and early assay results indicate a strong correlation between the presence of copper sulphides and gold content in drilling (Figure 1).

Table 1: Initial partial assay results from the Bonanza Zone

*Intervals are core-length. True width is estimated between 80-90% of core length.

Ewan Webster, President and CEO, commented, "Thesis is delighted with these initial outstanding assay results from our maiden drill program. These first three confirmation holes at the Bonanza Zone confirm high-grade gold mineralization extends from surface to depth. We anticipate further results from both the Bonanza and the Ridge Zones over the coming weeks."

Figure 1: Plan map of completed 2021 and historical drilling at the Bonanza and Ridge Zones.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2191/98574_b9e7193c24234a4b_001full.jpg

Figure 2: Simplied cross-section showing only 21BNZDD001 with logged alteration, gold assay histograms, and sample assay status.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2191/98574_b9e7193c24234a4b_002full.jpg

Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

On behalf of the Board of Directors
Thesis Gold Inc.

"Ewan Webster"

Ewan Webster Ph.D., P.Geo.
President, CEO and Director

About Thesis Gold Inc.

Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the "Golden Horseshoe" area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project and the 2021 drill program, please click here and watch the videos on the project – https://howardgroupinc.com/thesisgoldvideos/

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President
The Howard Group Inc.
Email: dave@howardgroupinc.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

Nick Stajduhar
Director
Thesis Gold
Email: nicks@thesisgold.com

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 press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98574

BHP Group BHP recently entered into a deal to supply nickel sulphate to Prime Planet Energy & Solutions (“PPES”), one of Japan’s leading lithium-ion battery producers. This will enable Prime Planet Energy & Solutions to develop lower carbon batteries, which will be supplied to Electric Vehicle (“EV”) manufacturers including Toyota Motor Corporation TM.

To this effect, a Memorandum of Understanding (“MOU”) has been signed between BHP Group, Prime Planet Energy & Solutions and Toyota Tsusho Corporation. Notably, Prime Planet Energy & Solutions is a joint venture between Toyota Motor and Panasonic Corporation. Toyota Tsusho Corporation is a general trading company that is part of the Toyota group.

Per the MOU, BHP Group will supply nickel sulphate to Prime Planet Energy & Solutions from its newly constructed Nickel West facility in Western Australia. Nickel West is one of the most sustainable nickel producers in the world. On Oct 1, BHP Group announced that it has produced the first nickel sulphate crystals from the plant. The plant is the first of its kind in Australia and will produce 100,000 tons of nickel sulphate per year, when fully operational. Its production will be enough to make 700,000 electric vehicle batteries each year.

BHP Group, along with Prime Planet Energy & Solutions and Toyota Tsusho Corporation, is making every effort to create a more sustainable and transparent industry, which is working collectively to lift standards and reduce emissions. According to the terms of the MoU, the parties will seek to identify ways to make the Japanese battery supply chain more sustainable by lowering carbon emissions in battery value chains. They will also explore the possibility of recycling battery scrap and used batteries at BHP Group’s Nickel West for further processing and production of nickel bearing products.

Amid the heightening climate-change concerns, development of batteries used to power EVs is gaining utmost importance. This, in turn, has fueled demand for metals, particularly copper and nickel, utilized in the production of batteries. Riding on this, demand for nickel in batteries is estimated to surge more than 500% over the next decade. Thus, BHP Group has been investing in its Nickel West facilities. The company is one of the world’s leading nickel suppliers to the battery metals market, with 85% of its nickel metal currently sold to the battery market. It delivers some of the world’s most sustainable and lowest carbon emission nickel to customers. BHP Group is working toward its strategy of focusing on commodities (copper, nickel and potash) that will help it capitalize on growing global trends such as decarbonisation, electrification population growth, rising living standards in the developing countries among others.

Earlier in July, BHP Group entered into an agreement with Tesla TSLA to supply nickel from the Nickel West mine. In addition to the supply agreement, BHP and Tesla will collaborate on ways to make the battery supply chain more sustainable with a focus on end-to-end raw material traceability using blockchain and technical exchange for battery raw materials production. The companies will also focus on promoting the importance of sustainability in the resources sector, including identifying partners who are most aligned with BHP and Tesla’s principles and battery value chains. BHP Group will also collaborate with Tesla on energy storage solutions to identify opportunities to lower carbon emissions in their respective operations through increased use of renewable energy paired with battery storage.

BHP Group’s shares have fallen 18.4% so far this year compared with the industry’s decline of 8.9%. This can primarily be attributed to the recent plunge in iron ore prices due to weak demand in China on account of its intensified curbs on steel production and slowdown across its property sector. In the third quarter of 2021, iron ore plummeted 49% — the first quarterly loss since the first quarter of 2020.

Image Source: Zacks Investment Research

Zacks Rank & a Key Pick

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

A better-ranked stock in the basic materials space includes Veritiv Corporation VRTV which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Veritiv has a projected earnings growth rate of 214.9% for the current year. The company’s shares have skyrocketed 359% year to date.

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BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report

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EROAD (NZSE:ERD) has had a rough three months with its share price down 7.6%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. In this article, we decided to focus on EROAD's ROE.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

Check out our latest analysis for EROAD

How Do You Calculate Return On Equity?

ROE can be calculated by using the formula:

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

So, based on the above formula, the ROE for EROAD is:

1.9% = NZ$2.0m ÷ NZ$105m (Based on the trailing twelve months to March 2021).

The 'return' is the profit over the last twelve months. That means that for every NZ$1 worth of shareholders' equity, the company generated NZ$0.02 in profit.

What Is The Relationship Between ROE And Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

EROAD's Earnings Growth And 1.9% ROE

As you can see, EROAD's ROE looks pretty weak. Not just that, even compared to the industry average of 23%, the company's ROE is entirely unremarkable. However, we we're pleasantly surprised to see that EROAD grew its net income at a significant rate of 38% in the last five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. Such as – high earnings retention or an efficient management in place.

Next, on comparing with the industry net income growth, we found that EROAD's growth is quite high when compared to the industry average growth of 11% in the same period, which is great to see.

Earnings growth is a huge factor in stock valuation. 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. Is ERD fairly valued? This infographic on the company's intrinsic value has everything you need to know.

Is EROAD Using Its Retained Earnings Effectively?

EROAD doesn't pay any dividend currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.

Summary

On the whole, we do feel that EROAD has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

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.

TORONTO, ON / ACCESSWIRE / October 5, 2021 / Cadillac Ventures Inc. ("Cadillac" or the "Company") (TSXV:CDC) announces that, after close of market on October 4, the Company received a failure-to-file cease trade order ("FFCTO"). The cease trade order was issued by the Ontario Securities Commission ("OSC"), the Company's principal regular, as a result of Cadillac's delay in filing the following annual disclosure requirement:

• Audited Annual Financial Statements for the year ended May 31, 2021;

• Management's Discussion and Analysis ("MD&A") relating to the Audited Annual Financial Statements for the year ended May 31, 2021; and

• Certification of the foregoing filings as required by National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings.

The FFCTO, among other things:

• Prohibits any person or company from trading, directly or indirectly, in any security of the Company in the Province of Ontario, and in every other province or territory of Canada in which Cadillac is a reporting issuer under the terms defined in the Legislation, National Instrument 14-101 Definitions and National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions have the same meaning if used in this order, unless otherwise defined.

• Despite this order, a beneficial security holder of the Issuer who is not, and was not at the date of this order, an insider or control person of the Issuer, may sell securities of the Issuer acquired before the date of this order if both of the following apply:
  (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and
  (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

The delay in filing of the financial statements and MD&A is due to complications resulting from the Cadillac's recent amalgamation with KFG Resources Ltd. and due to the negative impact of the coronavirus pandemic. This resulted in an inability to travel to the U.S. to assist in the timely completion of the audit process for new U.S. based subsidiaries. The recent acquisition of KFG resources also resulted in a requirement for an independent third-party valuation of a subsidiary, KFG Petroleum, which is ongoing but not yet complete. Cadillac anticipates this new valuation to be completed shortly and that filing of the company's financial statements will occur in a timely period.

While management does not consider this delay to constitute a material change or material information, management does recognize these financials will be the first Cadillac financials reflecting the positive income effect of Cadillac's acquisition of KFG Resources Inc. on May 3, 2021.

Once the 2021 annual filings are filed, the cease trade order will be revoked.

Cautionary statement regarding forward-looking statements

This press release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "assumes", "potential" and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements and expectations. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on Cadillac's respective expectations and considered reasonable at the time they were made, are inherently 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 those described in Cadillac's respective public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this release. Unless required by law, Cadillac does not intend to, or assume any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, please visit Cadillac's website www.cadillacventures.com, or contact Norman Brewster, President and Chief Executive Officer, at 905-837-2000.

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

SOURCE: Cadillac Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/666855/Cadillac-Ventures-Inc-Announces-Delay-in-Filing-Financial-Statements-and-MDA

VANCOUVER, BC, Oct. 5, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Cadillac Ventures Inc.

TSX-Venture Symbol: CDC

All Issues: No

Reason: Cease Trade Order

Halt Time (ET): 7:45 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/October2021/05/c1946.html

ST. JOHN’S, Newfoundland and Labrador, October 05, 2021–(BUSINESS WIRE)–Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) ("Altius" or the "Corporation") is pleased to update its Project Generation ("PG") business activities and its public junior equities portfolio. The market value of equities at September 30, 2021 was approximately $51.2 million, non-inclusive of $9.1 million in equity sales net of new investments. This compares to a market value of equities of $64.5 million at June 30, 2021.

10,089,199 common shares of Chesterfield Resources (CHF:LSE) were received during the quarter as payment for the Corporation’s sale of its Adeline copper project in Labrador, the value of which is included in the total above. An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities.

Portfolio and Project Highlights

Adventus Mining Corporation (ADZN:TSXV) ("Adventus") continued to advance the ongoing feasibility study of its copper and gold rich El Domo deposit located within the Curipamba project, which is anticipated to be completed in the fourth quarter of 2021, and is continuing to advance detailed planning for the final engineering design and commencement of mine construction beginning in 2022. Adventus also reported drilling results from a new discovery of volcanogenic massive sulphide (VMS) mineralization at Agua Santa, located approximately 4.5 kms southwest of the El Domo deposit, that included 6.34 metres of 1.77% copper, 1.46 grams per tonne (g/t) gold, 7.45% zinc, 23.2 g/t silver and 0.24% lead – Press Release. Altius holds a 2% net smelter return royalty covering the Curipamba project.

Orogen Royalties Inc. (OGN:TSV-V) ("Orogen") announced plans to spin out the Bell Creek copper project in BC and completed several project joint ventures. AngloGold Ashanti also provided an update during the quarter relating to the Silicon gold project in Nevada, over which Orogen and Altius hold 1% and 1.5% NSR royalties. In its announcement (Press Release) it noted the potential for "significant oxide ore bodies at Silicon and Merlin, as well as additional sulphide potential at Silicon at depth", and that it will publish a Mineral Resource at Silicon for the year ending 31 December 2021.

Abrasilver Resource Corp. (ABRA:TSX-V) ("Abra") recently reported a significant increase in a mineral resource estimate for its Diablillos project along with plans to complete an updated PEA study in the fourth quarter – Press Release. In addition, Abra also announced that joint venture operator Rio Tinto Mining and Exploration Limited commenced drilling at the Arcas copper-gold project located in Chile – Press Release. Altius originated the Arcas project and retains a 0.98% gross sales royalty covering the property.

Surge Copper Corp. (SURG:TSX-V) ("Surge") reported new drill results from its Ootsa Cu-Au porphyry project in British Columbia including an intersection of 194 metres of 0.24% Cu, 0.19 g/t Au, 0.036% Mo and 2.3 g/t Ag- Press Release. The Company anticipates continued drilling at Ootsa through the remainder of the year.

Recent drill results and plans for additional drilling were reported during the quarter by the operators of projects the Company has sold or optioned within Newfoundland and Labrador including:

– Sterling Metals Corp. (SAG:TSX.V) reported initial drilling results from the Sail Pond silver rich polymetallic project and announced an expanded drilling program.

– Canstar Resources Inc. (ROX:TSX-V) reported initial strong gold intercepts from its Golden Baie project from an ongoing drilling program.

– Canterra Minerals Corporation (CTM:TSX-V) announced the commencement of a 5000 meter drilling program at the Wilding Lake project that is targeting the extensions of gold rich surface mineralization.

– TRU Precious Metals Corp. (TRU:TSX-V) announced the commencement of a 5000 meter drilling program at the Golden Rose project.

– Churchill Resources (CRI:TSX-V) announced a planned drilling program at the Taylor Brook nickel project that is expected to commence shortly.

Qualified Person

Lawrence Winter, Ph.D., P.Geo., Vice‐President of Exploration for Altius, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared and approved this release.

About Altius

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 41,410,175 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005809/en/

Contacts

Chad Wells
Email: Cwells@altiusminerals.com
Tel: 1.877.576.2209

Flora Wood
Email: Fwood@altiusminerals.com
Tel: 1.877.576.2209
Direct: +1(416)346.9020

CRANBROOK, BC/ ACCESSWIRE / October 5, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL) ("Eagle Plains") has received analytical results from the 12-hole, 1152m (3,779') drill program completed in June/July on EPL's 100%-owned Donna property located 15km east of Cherryville, BC (the "Property"). The 2021 program was a continuation of work which was suspended in early October, 2020 due to early onset of winter conditions, and tested for gold and silver mineralization associated with a prominent gold-in-soil geochemical anomaly delineated at the Gossan Zone and the first-ever drilling in the area of the historical Morgan Mine workings.

The 11,329 ha Property is road-accessible and is transected by a high-voltage powerline. The claims overlie rocks of the prolific Quesnellia Terrane, host to many major B.C. porphyry deposits such as Highland Valley, Gibraltar, Mount Polley, Mount Milligan, Copper Mountain and others. Despite the rich endowment of mineralization in these rocks, the Donna area has seen relatively little exploration activity by industry or government. Placer gold claims overlie many of the creeks draining the Donna Property. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Donna property

See Donna Regional Projects Map here

2021 Drill Results

Eagle Plains completed 12 holes for 1152m (3,779') of diamond drilling with two holes at the Gossan Zone and 10 holes at the Morgan Zone. Exploration activity was carried out by TerraLogic Exploration Services Inc. of Cranbrook, BC.

Analytical results ranged from trace values to higher-grade intercepts, as summarized below.

Select Drill Results Table:

* All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.

See Donna Regional Projects Map here

Drill holes DO19-001 and DO21-002 tested a large soil geochemical anomaly at the Gossan Zone which was defined by past programs carried out by Eagle Plains. DO19-001 was the deepening of a 2019 drillhole and returned 9.4 g/t Au over 1.5m from sheared quartz-calcite veins along the contact between an upper limestone unit and a diorite intrusive. The purpose of the hole was to intersect the lower contact of the diorite-porphyry intrusion. The hole ended in a metavolcanic unit and did not intersect the limestone.

DO21-002 was drilled from the same Pad as D09-001, and targeted the hangingwall and footwall contacts of the diorite stock, with surface soil geochemical results of up to 5.3 g/t Au. The best result of 4.46 g/t Au over 0.77m came from a zone of quartz veining stockwork with minor pyrite hosted in diorite.

Drillholes DO21003 – DO21012 were the first drill holes completed at the historic past producing Morgan Mine area. All of the holes intersected a mix of limestone and metavolcanics cut by diorite dykes and local quartz-calcite shears and veins with calc-silicate and lesser chlorite alteration.

2021 Field Program Results

Surface work on the Donna Property in 2021 followed up on targets generated by an extensive data compilation and reinterpretation which incorporated both historic geological and geophysical results and new 2020-2021 airborne radiometric and magnetic survey data. Field assessment of selected target zones included soil and silt-stream geochemical surveys, geophysical guided prospecting, and known historical property viewings. A total of 1219 soil sample, 84 silt sample and 92 rock sample assay results were collected from the Gossan, Morgan, St. Paul, Yeoward, Donna, Irene, and Railroad zones. Highlight sample results include: 510 ppb Au (soil), 930 ppb Au (silt), and 21.1 g/t Au (rock grab). Results from the surface program, in tandem with the data compilation and recent geophysical data results, will be used to prioritize additional field work and follow-up drill targets for subsequent exploration programs.

Precision GeoSurveys Inc. of Langley, BC recently completed a helicopter-borne combined high resolution airborne magnetic, VLF-EM and radiometric geophysical survey at the Donna. A total of 678 line-km of surveying were completed in two separate grids. The results will be released after final compilation and interpretation is completed.

Donna Project Summary

See Donna Project Summary Map here

The core claims of the Donna property were acquired in 2016 by Eagle Plains with additional tenures subsequently added through staking. Certain claims comprising the property are subject to an underlying 2% royalty held by an arms-length third party. The project area is located in the Monashee Mountains within the source headwaters of the historic Kettle River and Yeoward Creek placer gold camps. The claims lie within one of the largest clusters of anomalous values in gold and typical associated pathfinder elements identified in the British Columbia Regional Geochemical Surveys stream-sediment program carried out in the joint Federal – Provincial programs from 1985-1990.

The Donna property is underlain by a sequence of marine sediments comprising carbonaceous black argillite, limestone, and volcanic rocks of Permian to Lower Triassic age. Locally these rocks were intruded by stocks and plugs of mafic-intermediate composition. The project area is considered to hold good potential to host intrusive-related gold mineralization.

Since acquiring the property, Eagle Plains has carried out annual systematic exploration including a 470 line-km geophysical survey in 2017 which followed a comprehensive compilation of all historical work. The property boasts a robust GIS database consisting of rock, soil, silt, till, trench and drill-hole results within and adjacent the property area. In July, 2020, EPL completed the purchase of historical crown grants covering workings documented at the St. Paul and Morgan mines (BCMINFILE 082LSE010), which include shafts, tunnels, winzes and an unknown number of open cuts and trenches, as well as a tramline and stamp mill that operated in the early 1900's. Recorded production from the St. Paul and Morgan deposits for the period 1914-1961 total 392 tonnes containing 5,630 grams of gold, 112,406 grams of silver, 3,720 kilograms of lead and 1,258 kilograms of zinc. Various geological reports and government publications report underground sampling returning values ranging from trace quantities to highs of up to 93.9 g/t (2.74 oz/t) gold and 60.3 g/t (1.76 oz/t) silver over a 0.6m sample width. All historical mine workings are currently inaccessible. The previous results were taken directly from the BCMINFILE descriptions and assessment reports filed with the BCEMPR. 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 Donna property.

QA/QC

Geological and geotechnical logging and core sampling were completed on the property in a temporary core facility near the past producing Morgan Mine. Assay intervals were based on visual identification of mineralization, presence and density of quartz veins and lithological boundaries. Terralogic Exploration geologists maintained chain of custody and sampling procedures reported in this news release according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.

Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay – AA finish (Au-AA23). Samples that returned over 1ppm Au by Au-AA23 were re-analysed using gold (Au) 30g Fire Assay – Gravimetric finish (Au-GRA21).

On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Donna Drilling Program included certified reference material ("CRM's") and blanks that were inserted into each sample batch in order to verify the analytical from the lab. The CRM's from all holes reported passed within 3 standard deviations and the blanks returned acceptable values. All of the lab internal standards and duplicates were within acceptable values.

Qualified Persons

The drilling and field program at the Donna was supervised by Jarrod Brown, P.Geo. of TerraLogic. 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.

Update on Kalum Drill Program

Work has been suspended on EPL's Kalum project, currently under option to Rex Resources (see EPL news release July 15, 2021). Work was halted due to equipment failures and the inability to source new equipment, parts and personnel at this time. None of the planned holes were completed to target depths and no samples were sent for analysis. Rex holds the exclusive right to earn a 60-per-cent interest in the property by completing exploration expenditures of $3-million, making cash payments of $500,000 and issuing one million common shares to Eagle Plains over a four-year period. The partners have recently agreed to extend the next cash and share payment deadline from December 31st, 2021 to March 31st, 2022.

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.

SOURCE: Eagle Plains Resources Ltd.

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TORONTO, October 05, 2021–(BUSINESS WIRE)–Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") is pleased to announce that it has closed the previously announced transaction (the "Transaction") to sell its Bend and Reef properties in Wisconsin to Green Light Metals Inc. ("GL"). All dollar amounts are reported in Canadian dollars.

Total consideration of $7,000,000 payable to Aquila consists of:

• Upfront cash consideration of $2.1 million, of which $1 million was advanced as a deposit upon the execution of the letter of intent with respect to the Transaction in June 2021 and the remaining $1.1 million was paid at closing; and

• A non-interest bearing promissory note ("Promissory Note") of GL in the principal amount of $4.9 million. The Promissory Note shall become due and payable by GL on the earlier of: (i) December 31, 2022 (the "Maturity Date"); or (ii) immediately prior to the completion of an initial public offering or other transaction that results in the shares of GL (or of a successor entity) being listed on a stock exchange as freely tradeable securities (a "Go-Public Transaction").

If the Promissory Note becomes due and payable on a Go-Public Transaction, then the Promissory Note shall be satisfied by way of:

• $900,000 in cash; and

• The issuance of that number of GL shares equal to $4 million divided by the price per share at which GL shares are issued in the Go-Public Transaction financing.

If GL does not complete a Go-Public Transaction prior to the Maturity Date, then the Promissory Note shall be satisfied by way of the issuance of that number of GL shares equal to $4.9 million divided by the price per share at which GL issued shares in its most recently completed financing prior to the Maturity Date.

In connection with the Transaction, GL and Aquila also entered into an investor rights agreement pursuant to which, among other things, Aquila received the right to participate in future equity financings completed by GL as well as nomination rights in respect of one member of GL’s board of directors, in each case subject to Aquila continuing to maintain a specified ongoing ownership interest in GL.

Barry Hildred, Aquila’s Executive Chair, is an investor in GL and Chair of the GL board of directors. As such, Mr. Hildred did not participate in the Transaction on behalf of Aquila and recused himself from voting on the Transaction as a member of Aquila’s board of directors.

ABOUT AQUILA

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development-stage company focused on high grade polymetallic projects in the Upper Midwest, USA. Aquila’s experienced management team is advancing pre-construction activities for its flagship 100%‐owned gold and zinc-rich Back Forty Project in Michigan.

The Back Forty Project is a volcanogenic massive sulfide deposit with open pit and underground potential located along the mineral-rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Back Forty contains approximately 1.1 million ounces of gold and 1.2 billion pounds of zinc in the Measured & Indicated Mineral Resource classifications, with additional exploration upside. An optimized Feasibility Study for the Project is underway.

Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.

Cautionary statement regarding forward-looking information

This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: risks with respect to the COVID-19 pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’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. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005006095/en/

Contacts

Guy Le Bel, President & CEO
Tel: 450.582.6789
glebel@aquilaresources.com

David Carew, VP Corporate Development & Investor Relations
Tel: 647.943.5677
dcarew@aquilaresources.com

/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES./

KELOWNA, BC, Oct. 5, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") announces that it will undertake a non-brokered private placement to raise gross proceeds of up to $4,000,000 (the "Offering").

The Offering will consist of flow through units priced at $0.50 per unit, with each unit comprised of one flow through share and one-half warrant. Each whole warrant entitles the holder to acquire a non-flow through share at a price of $0.65 for a term of two years.

The Company may pay finder's fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange. Proceeds from the Offering will be used to fund upcoming drill programs on the Company's North Rackla project in the Yukon.

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

The securities issued pursuant to the Offering will be subject to a four month hold period from the date of issue of the units. The Offering remains subject to the acceptance of the TSX Venture Exchange.

Signed,

Charles Fipke

Charles Fipke
Chairman

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/October2021/05/c9801.html

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The Zacks Rank is a unique, proprietary stock-rating model that utilizes earnings estimate revisions to help investors build a winning portfolio.

There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise.

Agreement is the extent to which all brokerage analysts are revising their earnings estimates in the same direction. The greater the percentage of analysts revising their estimates higher, the better chance the stock will outperform.

Magnitude is the size of the recent change in the consensus estimate for the current and next fiscal years.

Upside is the difference between the most accurate estimate, which is calculated by Zacks, and the consensus estimate.

Surprise is made up of a company's last few quarters' earnings per share surprises; companies with a positive earnings surprise are more likely to beat expectations in the future.

Each one of these factors is given a raw score that's recalculated every night, and then compiled into the Zacks Rank. Using this data, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell."

The Power of Institutional Investors

The Zacks Rank also allows individual investors, or retail investors, to benefit from the power of institutional investors.

These professionals manage the trillions of dollars invested in hedge funds, mutual funds, and investment banks, and studies have shown that they can and do move the market because of the large amounts of money they invest with. Thus, the market tends to move in the same direction as institutional investors.

In order to determine the fair value of a company and its shares, institutional investors design valuation models that focus on earnings and earnings estimates. Because if you raise earnings estimates, it then creates a higher fair value for a company and its stock price.

Institutional investors then act on these changes in earnings estimates, typically buying stocks with rising estimates and selling those with falling estimates; an increase in earnings estimates can translate into higher stock prices and bigger gains for the investor.

Since it can often take weeks, if not months, for an institutional investor to build a position (given their size), retail investors who get in at the first sign of upward earnings estimate revisions have a distinct advantage over these larger investors, and can benefit from the expected institutional buying that will follow.

Not only can the Zacks Rank help you take advantage of trends in earnings estimate revisions, but it can also provide a way to get into stocks that are highly sought after by professionals.

How to Invest with the Zacks Rank

The Zacks Rank is known for transforming investment portfolios. In fact, a portfolio of Zacks Rank #1 (Strong Buy) stocks has beaten the market in 26 of the last 32 years, with an average annual return of +25.41%.

Moreover, stocks with a new #1 (Strong Buy) ranking have some of the biggest profit potential, while those that fell to a #4 (Sell) or #5 (Strong Sell) have some of the worst.

Let's take a look at Mosaic (MOS), which was added to the Zacks Rank #1 list on August 7, 2021.

Minnesota-based The Mosaic Company is a leading producer and marketer of concentrated phosphate and potash for the global agriculture industry. It was formed through the combination of the fertilizer businesses of agribusiness giant Cargill Incorporated and IMC Global Inc. Mosaic is the biggest integrated phosphate producer globally and is also among the four largest potash producers in the world.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2021. The Zacks Consensus Estimate has increased $1.50 to $4.86 per share. MOS boasts an average earnings surprise of 43%.

Earnings are expected to grow 471.8% for the current fiscal year, while revenue is projected to increase 43.9%.

Additionally, MOS has climbed higher over the past four weeks, gaining 17.6%. The S&P 500 is down 3.6% in comparison.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Mosaic should be on investors' shortlist.

If you want even more information on the Zacks Ranks, or one of our many other investing strategies, check out the Zacks Education home page.

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Our private Zacks #1 Rank List, based on our quantitative Zacks Rank stock-rating system, has more than doubled the S&P 500 since 1988. Applying the Zacks Rank in your own trading can boost your investing returns on your very next trade. See Today's Zacks #1 Rank List >>

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Today we will run through one way of estimating the intrinsic value of Rogue Resources Inc. (CVE:RRS) by taking the forecast future cash flows of the company and discounting them back to today's value. The Discounted Cash Flow (DCF) model is the tool we will apply to do this. It may sound complicated, but actually it is quite simple!

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

See our latest analysis for Rogue Resources

The model

We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To begin with, we have to get estimates of the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:

10-year free cash flow (FCF) estimate

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = CA$1.0m

We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 1.6%. We discount the terminal cash flows to today's value at a cost of equity of 8.2%.

Terminal Value (TV)= FCF₂₀₃₁ × (1 + g) ÷ (r – g) = CA$318k× (1 + 1.6%) ÷ (8.2%– 1.6%) = CA$4.8m

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= CA$4.8m÷ ( 1 + 8.2%)¹⁰= CA$2.2m

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is CA$3.2m. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of CA$0.1, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

Important assumptions

The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Rogue Resources as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.2%, which is based on a levered beta of 1.529. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Moving On:

Valuation is only one side of the coin in terms of building your investment thesis, and it ideally won't be the sole piece of analysis you scrutinize for a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Rogue Resources, there are three relevant elements you should consider:

1. Risks: As an example, we've found 4 warning signs for Rogue Resources (2 are a bit concerning!) that you need to consider before investing here.

2. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

3. Other Environmentally-Friendly Companies: Concerned about the environment and think consumers will buy eco-friendly products more and more? Browse through our interactive list of companies that are thinking about a greener future to discover some stocks you may not have thought of!

PS. Simply Wall St updates its DCF calculation for every Canadian stock every day, so if you want to find the intrinsic value of any other stock just search here.

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) — BHP Group is in talks about buying into a copper project in the Democratic Republic of the Congo, marking a dramatic departure from the world’s biggest mining company’s policy of shunning risky jurisdictions.

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The Melbourne-based miner is in early discussions with billionaire Robert Friedland’s Ivanhoe Mines Ltd. to buy into Western Foreland, a huge exploration territory that neighbors Ivanhoe’s Kamoa-Kakula mine, according to people familiar with the matter, who asked not to be identified as the talks are private. There’s no guarantee BHP will agree a deal with Ivanhoe, and other mining companies are also interested in the project, the people said.

Ivanhoe said in an emailed response that it doesn’t comment on specific negotiations. A spokesperson for BHP said the company declines to comment on market rumor and speculation. Ivanhoe shares rose as much as 10% on Monday, the biggest intraday advance since June last year.

A foray into a nation emerging from decades of conflict would mark a shift in strategy for BHP, which has operated mainly in more developed countries in recent years. The company sold its last mining asset in Africa — the rights to develop an iron ore deposit in Guinea — to Friedland in 2019 as it focused on Australia, Canada and Chile.

During the 18-month tenure of Chief Executive Officer Mike Henry, BHP’s position has softened. There’s a realization that to get access to the best mineral deposits for the global energy transition, the company needs to operate in more risky jurisdictions. BHP shifted its exploration headquarters to the financing hub of Toronto this year.

BHP is especially bullish on copper, a metal used for wiring that’s crucial to decarbonization. Like its major rivals, BHP is expecting a surge in demand, while long-term supply looks constrained amid a lack of new mine development and as growth in top producer Chile slows amid deteriorating ore quality and huge investment burdens.

Congo Bet

While BHP has already shown more appetite for risk by building a stake in Ecuador copper mine developer SolGold Plc, making a bet on the DRC is a significant step further. While the country is the biggest source of cobalt and Africa’s largest producer of copper, corruption in the industry has kept the nation among the poorest in the world.

The challenges of the DRC are highlighted by Ivanhoe’s Kamoa-Kakula mine, which started operating earlier this year. While it’s one of the highest grade copper mines in the world, with the potential to become one of the biggest, Chinese companies helped fund it as Western rivals were deterred by the risks associated with the country.

Ivanhoe points to the presence of BlackRock Inc. and Fidelity on its shareholder register as underscoring the transparency of the Vancouver-based firm’s operations in the DRC.

Friedland, who is Ivanhoe’s founder and executive co-chairman, made his fortune from a Canadian nickel project and was behind a massive copper-gold discovery in Mongolia that’s now operated by Rio Tinto Group.

(Adds share price in third paragraph)

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At Insider Monkey, we pore over the filings of nearly 873 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of June 30th. In this article, we will use that wealth of knowledge to determine whether or not Great Western Bancorp Inc (NYSE:GWB) makes for a good investment right now.

Is Great Western Bancorp Inc (NYSE:GWB) a cheap stock to buy now? Money managers were taking a pessimistic view. The number of bullish hedge fund positions were trimmed by 3 in recent months. Great Western Bancorp Inc (NYSE:GWB) was in 10 hedge funds' portfolios at the end of the second quarter of 2021. The all time high for this statistic is 24. Our calculations also showed that GWB isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings). There were 13 hedge funds in our database with GWB holdings at the end of March.

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by 79 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.

Matthew Lindenbaum of Basswood Capital

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 let's take a peek at the fresh hedge fund action encompassing Great Western Bancorp Inc (NYSE:GWB).

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

At the end of the second quarter, a total of 10 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -23% from the first quarter of 2020. The graph below displays the number of hedge funds with bullish position in GWB over the last 24 quarters. So, let's check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

More specifically, Basswood Capital was the largest shareholder of Great Western Bancorp Inc (NYSE:GWB), with a stake worth $6.5 million reported as of the end of June. Trailing Basswood Capital was D E Shaw, which amassed a stake valued at $2.8 million. Two Sigma Advisors, Millennium Management, and Royce & Associates 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 Quantinno Capital allocated the biggest weight to Great Western Bancorp Inc (NYSE:GWB), around 0.32% of its 13F portfolio. Basswood Capital is also relatively very bullish on the stock, dishing out 0.27 percent of its 13F equity portfolio to GWB.

Judging by the fact that Great Western Bancorp Inc (NYSE:GWB) has experienced falling interest from the aggregate hedge fund industry, it's safe to say that there is a sect of fund managers that slashed their entire stakes heading into Q3. At the top of the heap, Ken Griffin's Citadel Investment Group dropped the largest investment of all the hedgies tracked by Insider Monkey, worth an estimated $10.4 million in stock, and Peter Rathjens, Bruce Clarke and John Campbell's Arrowstreet Capital was right behind this move, as the fund dropped about $2.5 million worth. These moves are important to note, as aggregate hedge fund interest dropped by 3 funds heading into Q3.

Let's now review hedge fund activity in other stocks similar to Great Western Bancorp Inc (NYSE:GWB). We will take a look at CVR Energy, Inc. (NYSE:CVI), WideOpenWest, Inc. (NYSE:WOW), Yext, Inc. (NYSE:YEXT), Argo Group International Holdings, Ltd. (NYSE:ARGO), Core Laboratories N.V. (NYSE:CLB), Lindsay Corporation (NYSE:LNN), and QAD Inc. (NASDAQ:QADA). This group of stocks' market valuations are similar to GWB's market valuation.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position CVI,16,1348329,-2 WOW,19,296125,5 YEXT,19,54134,6 ARGO,12,230220,-1 CLB,16,238361,-1 LNN,14,215504,4 QADA,23,230920,9 Average,17,373370,2.9 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $373 million. That figure was $14 million in GWB's case. QAD Inc. (NASDAQ:QADA) is the most popular stock in this table. On the other hand Argo Group International Holdings, Ltd. (NYSE:ARGO) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Great Western Bancorp Inc (NYSE:GWB) is even less popular than ARGO. Our overall hedge fund sentiment score for GWB is 14.5. 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. Hedge funds dodged a bullet by taking a bearish stance towards GWB. Our calculations showed that the top 5 most popular hedge fund stocks returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 25.7% in 2021 through September 27th but managed to beat the market again by 6.2 percentage points. Unfortunately GWB wasn't nearly as popular as these 5 stocks (hedge fund sentiment was very bearish); GWB investors were disappointed as the stock returned -0.9% since the end of the second quarter (through 9/27) 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 since 2019.

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Fortuna Silver Mines Inc. FSM recently announced that its board of directors has provided a go-ahead for the construction of an open pit mine at the Séguéla gold project in Côte d’Ivoire. This will be the company’s fifth operating mine with first gold expected by mid-2023. It is anticipated to produce around 120,000 ounces of gold per year.

The Séguéla gold Project was added to Fortuna Silver’s portfolio when it completed the acquisition of Roxgold Inc. in July this year. Prior to the combination with Roxgold, Fortuna Silver had three mines — San Jose mine in Mexico, Lindero Mine in Argentina and Caylloma Mine in Peru. It now has operations in West Africa with the addition of Roxgold’s high-grade Yaramoko Gold Mine located in Burkina Faso and its advanced development project Séguéla Gold Project.

The Séguéla Project calls for an initial capital investment of $173.5 million. Of this, $11.5 million has been approved by the board for early works items. The company intends to commence construction immediately with long lead items procured, and development teams established on the ground. The anticipated construction schedule is around 20 months.

Concurrent with construction, the company plans to continue with well-funded drill programs to test multiple remaining targets on the Séguéla property. It is worth mentioning that over the last 12 months, the exploration team has successfully delivered gold discoveries at the Koula, Sunbird and Gabbro North prospects. Overall, the mine is expected to produce 1,028,000 ounces of gold through its expected life of around nine years. In the initial six years, the projected gold output is expected at 130,000 ounces.

The combination of Fortuna Silver and Roxgold resulted in a low-cost intermediate gold and silver producer with four operating mines in Americas and West Africa — two of the world’s fastest growing precious metals producing regions. The combined company has a projected annual gold equivalent production profile of approximately 450,000 ounces, which is expected to increase further once the Séguéla comes online. Roxgold’s Yaramoko and Séguéla are low-cost assets with low technical complexity, which will drive meaningful growth, while reducing overall costs. Fortuna Silver’s All-In Sustaining Cost is projected at approximately $950 per gold equivalent ounce, lower than nearest peers.

A strong balance sheet will enable the company to pursue other organic and external growth opportunities. The combined company will have a projected EBITDA of around $487 million in 2021 and free cash flow of $211 million. Over the 2021-2023 period, the company is expected to generate pro forma average annual EBITDA of more than $500 million. Silver will continue to be a meaningful contributor to revenues.

Price Performance

Image Source: Zacks Investment Research

Shares of the company have fallen 40.2% over the past year compared with the industry’s decline of 22.4%.

Zacks Rank & Stocks to Consider

Fortuna Silver currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space include Veritiv Corporation VRTV, Nucor Corporation NUE and Teck Resources Ltd. TECK. All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Veritiv has a projected earnings growth rate of 214.9% for the current year. The company’s shares have surged a whopping 542% in a year.

Nucor has a projected earnings growth rate of roughly 534.4% for the current year. The company’s shares have rallied 107% in a year.

Teck Resources has a projected earnings growth rate of 305.3% for the current year. The company’s shares have appreciated 81% in a year.

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Zacks Investment Research

Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out what the billionaire investors and hedge funds think of Five9 Inc (NASDAQ:FIVN).

Five9 Inc (NASDAQ:FIVN) shares haven't seen a lot of action during the second quarter. Overall, hedge fund sentiment was unchanged. The stock was in 45 hedge funds' portfolios at the end of June. Our calculations also showed that FIVN isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings). At the end of this article we will also compare FIVN to other stocks including CRISPR Therapeutics AG (NASDAQ:CRSP), Teck Resources Ltd (NYSE:TECK), and Iron Mountain Incorporated (NYSE:IRM) to get a better sense of its popularity.

According to most traders, hedge funds are assumed to be slow, outdated investment tools of yesteryear. While there are greater than 8000 funds in operation today, We choose to focus on the top tier of this group, approximately 850 funds. These money managers administer bulk of the smart money's total asset base, and by keeping track of their matchless stock picks, Insider Monkey has brought to light a few investment strategies that have historically beaten the broader indices. Insider Monkey's flagship short hedge fund strategy exceeded the S&P 500 short ETFs by around 20 percentage points per year since its inception in March 2017. Also, our monthly newsletter's portfolio of long stock picks returned 185.4% since March 2017 (through August 2021) and beat the S&P 500 Index by more than 79 percentage points. You can download a sample issue of this newsletter on our website .

Charles Clough of Clough Capital Partners

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. Now let's take a look at the recent hedge fund action surrounding Five9 Inc (NASDAQ:FIVN).

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

At the end of the second quarter, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 0% from one quarter earlier. On the other hand, there were a total of 44 hedge funds with a bullish position in FIVN a year ago. So, let's find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

According to Insider Monkey's hedge fund database, Alkeon Capital Management, managed by Panayotis Takis Sparaggis, holds the number one position in Five9 Inc (NASDAQ:FIVN). Alkeon Capital Management has a $553.7 million position in the stock, comprising 0.8% of its 13F portfolio. The second largest stake is held by Whale Rock Capital Management, managed by Alex Sacerdote, which holds a $523.2 million position; 3.4% of its 13F portfolio is allocated to the company. Some other hedge funds and institutional investors that hold long positions comprise Amish Mehta's SQN Investors, Steve Cohen's Point72 Asset Management and Christopher Lyle's SCGE Management. In terms of the portfolio weights assigned to each position Calixto Global Investors allocated the biggest weight to Five9 Inc (NASDAQ:FIVN), around 11.52% of its 13F portfolio. SQN Investors is also relatively very bullish on the stock, setting aside 8.96 percent of its 13F equity portfolio to FIVN.

Judging by the fact that Five9 Inc (NASDAQ:FIVN) has witnessed bearish sentiment from the entirety of the hedge funds we track, it's easy to see that there exists a select few money managers that decided to sell off their positions entirely last quarter. At the top of the heap, Chuck Royce's Royce & Associates dumped the biggest investment of the "upper crust" of funds followed by Insider Monkey, totaling close to $6.7 million in stock. Sheetal Sharma's fund, Collaborative Holdings Management, also said goodbye to its stock, about $4.3 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let's now review hedge fund activity in other stocks similar to Five9 Inc (NASDAQ:FIVN). We will take a look at CRISPR Therapeutics AG (NASDAQ:CRSP), Teck Resources Ltd (NYSE:TECK), Iron Mountain Incorporated (NYSE:IRM), InterContinental Hotels Group PLC (NYSE:IHG), Black Knight, Inc. (NYSE:BKI), Ozon Holdings PLC (NASDAQ:OZON), and Dr. Reddy's Laboratories Limited (NYSE:RDY). This group of stocks' market values match FIVN's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position CRSP,34,1761605,7 TECK,40,1277433,10 IRM,25,81927,9 IHG,6,10475,-2 BKI,33,995228,-7 OZON,19,190660,2 RDY,11,188216,-1 Average,24,643649,2.6 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $644 million. That figure was $2151 million in FIVN's case. Teck Resources Ltd (NYSE:TECK) is the most popular stock in this table. On the other hand InterContinental Hotels Group PLC (NYSE:IHG) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Five9 Inc (NASDAQ:FIVN) is more popular among hedge funds. Our overall hedge fund sentiment score for FIVN is 83.7. 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. 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 22.9% in 2021 through October 1st and still beat the market by 5.6 percentage points. Unfortunately FIVN wasn't nearly as popular as these 5 stocks and hedge funds that were betting on FIVN were disappointed as the stock returned -8.8% since the end of the second quarter (through 10/1) 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 since 2019.

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International Paper Company IP recently completed its previously announced separation and spin-off of its global printing papers business, which is now operating as Sylvamo Corporation and trading under the symbol "SLVM” on the New York Stock Exchange. This move makes International Paper a more-focused corrugated packaging and absorbent cellulose fibers company serving attractive segments, which in turn will increase the scope to augment earnings and cash generation.

On Oct 1, each International Paper shareholder received one share of Sylvamo common stock for 11 shares of International Paper common stock held on Sep 15, 2021. International Paper now owns approximately 19.9% of the outstanding shares of Sylvamo common stock.

Last December, International Paper announced its plan to spin-off its Printing Papers segment into a standalone, publicly-traded company. It has been subsequently named Sylvamo, with headquarters planned in Memphis, TN. This move will enable International Paper to focus on its Industrial Packaging segment, and capitalize on the growing demand for corrugated packaging, cut costs and improve earnings. International Paper now expects to generate around $17 billion in annual sales, with 85% stemming from Industrial Packaging and the balance from Global Cellulose Fibers.

The separation is a prudent move for International Paper, as paper demand has been eroding thanks to the transition to digital media and paperless communication. The company has been witnessing a decline in commercial printing due to the significant pullback in print advertising. The coronavirus pandemic induced closure of schools, offices and businesses dealt another blow by impacting paper consumption. Even though demand for printing papers has picked up lately, as offices and schools have resumed, it still remains below prior-year levels.

International Paper is riding on the surging demand for corrugated and containerboard packaging, as it plays a key role in the supply chain to deliver essential products to consumers. It will continue to benefit from the growing e-commerce demand as it has become a primary spending channel for customers owing to the containment measures amid the pandemic. The company has focused its efforts on streamlining and simplifying its organization to form a packaging-focused company and capitalize on the current trend in demand.

The company has been redesigning processes to increase efficiency and reduce costs in maintenance and reliability, distribution and logistics, and sourcing. It is also identifying opportunities to optimize fleet of assets to make the right products and own the right assets to strengthen cost position. International Paper is committed to delivering $350-$400 million in incremental earnings by the end of 2023. This includes $50-$100 million of incremental annual earnings growth and $300 million in structural cost reductions.

Price Performance

Image Source: Zacks Investment Research

International Paper’s shares have gained 28.6% in a year’s time against the industry’s growth of 37.5%.

Zacks Rank & Stocks to Consider

International Paper currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space include Veritiv Corporation VRTV, Nucor Corporation NUE and Teck Resources Ltd. TECK. All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Veritiv has a projected earnings growth rate of 214.9% for the current year. The company’s shares have appreciated 542% in a year.

Nucor has a projected earnings growth rate of roughly 534.4% for the current year. The company’s shares have rallied 107% in a year.

Teck Resources has a projected earnings growth rate of 305.3% for the current year. The company’s shares have gained 81% in a year.

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International Paper Company (IP) : Free Stock Analysis Report

Nucor Corporation (NUE) : Free Stock Analysis Report

Veritiv Corporation (VRTV) : Free Stock Analysis Report

Teck Resources Ltd (TECK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given this risk, we thought we'd take a look at whether Iron Road (ASX:IRD) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

View our latest analysis for Iron Road

How Long Is Iron Road's Cash Runway?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In June 2021, Iron Road had AU$4.8m in cash, and was debt-free. In the last year, its cash burn was AU$3.3m. Therefore, from June 2021 it had roughly 18 months of cash runway. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. Depicted below, you can see how its cash holdings have changed over time.

How Is Iron Road's Cash Burn Changing Over Time?

Although Iron Road reported revenue of AU$50k last year, it didn't actually have any revenue from operations. That means we consider it a pre-revenue business, and we will focus our growth analysis on cash burn, for now. Over the last year its cash burn actually increased by 39%, which suggests that management are increasing investment in future growth, but not too quickly. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Iron Road makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Easily Can Iron Road Raise Cash?

While Iron Road does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$139m, Iron Road's AU$3.3m in cash burn equates to about 2.3% of its market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

Is Iron Road's Cash Burn A Worry?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Iron Road's cash burn relative to its market cap was relatively promising. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about Iron Road's situation. On another note, Iron Road has 3 warning signs (and 1 which is significant) we think you should know about.

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

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.

MELBOURNE, October 02, 2021–(BUSINESS WIRE)–Rio Tinto is supporting iron ore rail car manufacturing in Western Australia with a commitment to use local suppliers to build ore rail cars for its Pilbara mining operations.

A tender will soon be released to the local market for an initial purchase of 50 ore rail cars, followed by an ongoing commitment of 10 ore cars a year for the next five years.

The tender will be released through the Rio Tinto Buy Local portal, a resource dedicated to making local suppliers aware of opportunities to partner with Rio Tinto and be part of our supply chain.

Western Australia has been an important part of Rio Tinto’s history for more than 50 years as the company built a world-class iron ore business. In 2020, the company spent AUD$7.5 billion with more than 2,000 local businesses based in Western Australia.

Rio Tinto is also part of the WA Government’s iron ore rail car action group, launched as part of the WA Recovery Plan to develop a competitive iron ore rail car manufacturing industry in Western Australia.

Rio Tinto’s commitment to bring ore rail car manufacturing back to WA supports the action group’s vision to develop WA’s ore rail car manufacturing capability and support the State’s economic recovery.

Rio Tinto Iron Ore chief executive Simon Trott said: "Building Rio Tinto’s ore rail cars here in WA will support local manufacturing and create jobs for West Australians.

"Rio Tinto is proud to lead the way in building iron ore rail cars in WA, in line with the vision of State Government’s iron ore rail car action group.

"I look forward to partnering with local businesses to support and grow the local manufacturing industry in WA.

"Ore cars are a critical part of our mining operations and building capacity to manufacture ore cars locally in WA will deliver significant benefits for Rio Tinto and the WA economy."

Premier Mark McGowan said: "This is a pleasing outcome and I commend Rio Tinto for taking the first step and committing to our local steel manufacturing industry which will support more jobs for Western Australians.

"Rio Tinto’s commitment is a positive result off the back of the State Government’s independent pre-feasibility study, which identified initiatives for the manufacture, refurbishment and maintenance of iron ore railcar wagons.

"This was about securing an ongoing pipeline of work for the long term manufacture of iron ore wagons and critical rail wagon parts, which will deliver jobs and economic benefit for the State into the future.

"Rio Tinto’s purchase of Western Australian made railcars that will be used right here in our State is something I encourage other iron ore companies operating in WA to get on board with and increase local content and local jobs."

riotinto.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20211002005001/en/

Contacts

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

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Jamie Macdonald
M +61 467 725 51

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

Category: Pilbara

TORONTO, Oct. 01, 2021 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces that its Board of Directors has granted an aggregate 100,000 stock options to Rachel Goldman, a recently appointed director of the Company. Each stock option is exercisable into one common share of the Company at a price of $0.61 CAD per common share, with vesting over 36 months, and exercisable for a period of five years from the date of grant. The options are granted pursuant to the Company’s Stock Option Plan and will be subject to applicable regulatory hold periods.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".

The Wawa Gold Project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,800 hectares in size. The Company’s Chairman of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining, Detour Gold, in addition to recently appointed Rachel Goldman who holds capital markets expertise and is currently the Chief Executive Officer at Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.

For more information about the Company, visit www.redpineexp.com

Or contact:

Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

Or

Tara Asfour, Investor Relations Manager, (514) 833-1957 tasfour@redpineexp.com

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

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.