(Bloomberg) —

A unit of Guinea’s military seized power and suspended the constitution, destabilizing a key source of the raw material used to make aluminum.

The head of special forces in the West African nation, Colonel Mamady Doumbouya, announced the takeover on state television on Sunday, imposed a curfew of 8 p.m. local time and urged the armed forces to back him. The action was taken to address financial mismanagement and corruption in Guinea under President Alpha Conde, he said, adding that the deposed leader is safe and has been in contact with his doctors.

“If you see the condition of our roads, of our hospitals, you realize that it is time for us to wake up,” Doumbouya said. “We are going to initiate a national consultation to open an inclusive and peaceful transition.”

Guinea vies with Australia as China’s largest supplier of bauxite, which is used to make alumina and eventually aluminum. The country shipped 82.4 million tons of the mineral globally last year, according to government data. Much of that went to China, which is the world’s biggest aluminum-consuming country.

Aluminium prices on the London Metal Exchange rose as much as 1.8% to $2,775.50 a ton, the highest since May 2011, before trading at $2,749. In China, futures jumped as much as 3.4% to the highest since 2006. Chinese aluminum stocks also rallied, with Aluminum Corp. of China shares up as much as 10% in Hong Kong.

The military takeover “might have a speculative impact on the price of aluminum but will have a bigger impact on the alumina price because it’s more immediately exposed to the event,” said Tom Price, head of commodities strategy at Liberum Capital Ltd. “It’s an event which will create a new risk of security to supply.”

Aluminum has jumped about 50% over the past year in London and is near the highest in a decade. Prices have rallied as a global economic recovery from the effects of the pandemic and Chinese output restrictions stoked demand. The energy-intensive aluminum industry has been targeted in China as the government seeks to conserve electricity and curb emissions, while a seasonal power crunch has also dented production.

Companies including United Co. Rusal have invested heavily to extract Guinea’s abundant iron-ore and bauxite reserves. Rio Tinto Group, the world’s largest miner, has been looking at ways to exploit Simandou, the biggest undeveloped iron-ore deposit. Johannesburg-based AngloGold Ashanti Ltd. owns the Siguiri gold mine in Guinea, its only asset in the country.

Rusal’s spokesman declined to comment on the military takeover, but said it could have an impact on output. Guinea accounted for about 9% of the alumina produced by Rusal in the first half of 2021, according to the company.

The U.S. State Department condemned the coup and called for a peaceful national dialogue to “enable a peaceful and democratic way forward for Guinea to realize its full potential.” United Nations Secretary-General Antonio Guterres also blasted the military takeover.

Leaders of two African blocs have pushed for the release of Guinea’s president. Leaders of the Economic Community of West African States also threatened sanctions against Guinea, Chairman Nana Akufo-Addo said in a statement.

The regional political and economic body “condemns with the greatest firmness, and also demands a return to constitutional order,” Akufo-Addo, who’s also Ghana’s president, added.

The African Union also called for its Peace and Security Council to meet urgently over the matter.

Doumbouya’s TV appearance bore a resemblance to a similar scene in August 2020, when a Malian junta removed President Ibrahim Keita after blaming him for the country’s socio-economic problems. And in April, Chad’s army seized power after the death of President Idriss Deby.

The military takeover in Guinea on Sunday came hours after heavy gunfire erupted near the presidential palace in the capital, Conakry, in the morning.

Conde’s government said in a statement before Doumbouya’s announcement that the presidential guard, backed by the nation’s security forces, had repulsed the attack by the “insurgents” and called for calm.

Conde, 83, was sworn in December for a third term in office, vowing to fight corruption. Initially hailed when he came to power in 2010 for ushering in democratic rule, he was allowed to run for a controversial third term last year after a referendum, backed by Russia, led to a change in the constitution.

A former educator, Conde has increasingly cracked down on opponents as opposition against his rule has grown.

(Adds aluminium price in fifth paragraph)

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Generally, when a single insider buys stock, it is usually not a big deal. However, when several insiders are buying, like in the case of Anglo American plc (LON:AAL), it sends a favourable message to the company's shareholders.

Although we don't think shareholders should simply follow insider transactions, we would consider it foolish to ignore insider transactions altogether.

See our latest analysis for Anglo American

The Last 12 Months Of Insider Transactions At Anglo American

Over the last year, we can see that the biggest insider purchase was by insider James Rutherford for UK£144k worth of shares, at about UK£24.30 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of UK£30.91. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

Anglo American insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

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. Anglo American insiders own about UK£109m worth of shares (which is 0.3% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Does This Data Suggest About Anglo American Insiders?

It doesn't really mean much that no insider has traded Anglo American shares in the last quarter. But insiders have shown more of an appetite for the stock, over the last year. With high insider ownership and encouraging transactions, it seems like Anglo American insiders think the business has merit. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Our analysis shows 2 warning signs for Anglo American (1 is concerning!) and we strongly recommend you look at these before investing.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.

Just because a business does not make any money, does not mean that the stock will go down. 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. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So should Aspire Mining (ASX:AKM) shareholders 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. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

See our latest analysis for Aspire Mining

Does Aspire Mining Have A Long Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. As at December 2020, Aspire Mining had cash of AU$35m and such minimal debt that we can ignore it for the purposes of this analysis. In the last year, its cash burn was AU$2.9m. That means it had a cash runway of very many years as of December 2020. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. You can see how its cash balance has changed over time in the image below.

How Is Aspire Mining's Cash Burn Changing Over Time?

Because Aspire Mining isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Notably, its cash burn was actually down by 61% in the last year, which is a real positive in terms of resilience, but uninspiring when it comes to investment for growth. Aspire Mining makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

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

While we're comforted by the recent reduction evident from our analysis of Aspire Mining's cash burn, it is still worth considering how easily the company could raise more funds, if it wanted to accelerate spending to drive growth. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. 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.

Aspire Mining has a market capitalisation of AU$41m and burnt through AU$2.9m last year, which is 7.1% of the company's market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

Is Aspire Mining's Cash Burn A Worry?

As you can probably tell by now, we're not too worried about Aspire Mining's cash burn. For example, we think its cash runway suggests that the company is on a good path. But it's fair to say that its cash burn relative to its market cap was also very reassuring. After considering a range of factors in this article, we're pretty relaxed about its cash burn, since the company seems to be in a good position to continue to fund its growth. On another note, Aspire Mining has 3 warning signs (and 2 which are a bit concerning) we think you should know about.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts)

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.

Friday, September 3, 2021
 

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Verizon Communications Inc. (VZ), CVS Health Corporation (CVS), and BHP Group (BHP). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
 

You can see all of today’s research reports here >>>
 

Verizon shares have lagged the Zacks Wireless Industry over the last 6 months (+0.9% vs. +2.6%), but the Zacks analyst believes that the company is poised to benefit from a disciplined network strategy and a customer-centric business model. Supported by a focused roadmap for technology leadership, the company witnessed a healthy demand curve across core businesses. Verizon expects to continue this momentum, driven by diligent execution of operational plans along with dedicated 5G endeavors.
 

However, Verizon operates in an intensely competitive U.S. wireless market that strains margins. Hefty expenses on promotions and lucrative discounts to attract customers hamper its profitability. The high auctioning expenses for the mid-band spectrum is likely to further compromise Verizon’s margins.
 

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

Shares of CVS Health have modestly outperformed the Zacks Retail – Pharmacies and Drug Stores industry in the last three months (+0.6% vs. -1.5%). In fact, CVS Health's second-quarter earnings and revenues surpassed the Zacks Consensus Estimate. Revenues across all the three operating segments in the second quarter performed ahead of the company’s expectations. Increased full-year guidance is indicative of this bullish trend to continue through the rest of 2021.
 

The company noted that, consumer-centric digital strategy has become more relevant in the current environment as people are using technology more while staying indoors. The Zacks analyst believes that in the second quarter, the company has achieved higher levels of engagement across digital assets. However, second-quarter adjusted earnings declined year over year on escalating costs and expenses which are putting pressure on both the margins. Also, the repeal of the HIF for 2021 hampered growth.
 

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

BHP Group shares have gained +15.2% over the past year against the Zacks Mining – Miscellaneous industry’s gain of +17.1%. In fact, BHP Group’s iron ore production in fiscal 2021 rose 2% to 254 Mt (million tons) aided by record production at Western Australia Iron Ore (WAIO). In fiscal 2022, the company expects to produce between 249 Mt and 259 Mt of iron ore backed by productivity improvements at WAIO.
 

The Zacks analyst believes that higher input costs and the recent drop in iron ore prices due to curbs on steel production in China remains a concern. Nevertheless, BHP Group will gain on efforts to make operations more efficient through smart technology adoption across the entire value chain and focus on lowering debt.
 

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

Other noteworthy reports we are featuring today include Expeditors International of Washington, Inc. (EXPD), Autodesk, Inc. (ADSK) and DISH Network Corporation (DISH).
 

Sheraz Mian
 

Director of Research
 

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Verizon Communications Inc. (VZ) : Free Stock Analysis Report
 
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The giant mining company is making changes to its business, and it seems investors are unenthusiastic about its plans.

Miners are bringing about radical changes to mining operations with the help of technology and automation, in an effort to increase productivity and efficiency, reduce costs, and improve frontline safety. More importantly, these efforts will help the industry meet its sustainability target by cutting down on carbon emissions, which is the need of the hour considering the severity of climate change.

To this end, Brazilian miner Vale S.A VALE announced that it has started operating six autonomous haul trucks in Carajás — its largest iron ore complex in Brazil and plans to take it up to 10 vehicles by this year-end. These autonomous trucks have the capability of moving 320 metric tons at a time. These have been undergoing tests in an isolated area in Carajás since 2019. Following the final testing phase at the N4E mine last week, the plan went live on Sep 1 this year. At the Carajás Complex, Vale already has four autonomous drills in operation. The company has plans to increase it to seven drills.

This follows the success of the autonomous operation at Vale’s second largest mine, Brucutu, in Minas Gerais, Brazil, in 2016. It was the first mine in Brazil to run with 100% autonomous operations. In July this year, the 13 haul trucks in operation at the mine achieved the milestone of moving 100 million tons of material since their introduction. Impressively, no accident has been reported by the trucks over the past five years as well.

The move is not only ensuring safety in mining but also aiding the company in attaining its goal of reducing carbon emissions by 33% until 2030. Autonomous trucks offer increased machine and tire life, higher speed than traditional vehicles while consuming less fuel. This leads to lower carbon dioxide and particulate emissions. They offer higher hourly productivity and will lower maintenance costs as well.

Vale has earmarked $34 million this year for its autonomous program. By the end of the year, 23 trucks, 21 drills and four stocking yards (stackers and reclaimers) will be in operation across the company in four Brazilian states (Pará, Minas Gerais, Maranhão and Rio de Janeiro).

Mining giant, BHP Group BHP has been operating a fully-autonomous truck fleet at its Western Australian Jimblebar mine since 2017. The site is now one of the safest operations in its portfolio, with significant events involving trucks at Jimblebar having dropped by more than 90% since the introduction of autonomous haulage. Following its success, BHP is implementing the transition of an autonomous fleet of up to 86 trucks at its Goonyella Riverside coal mine in Queensland in a phased roll out over the 2021-2022 period. The company has announced that it will introduce 20 autonomous trucks at its Newman East (Eastern Ridge) mine in Western Australia.

Rio Tinto plc Plc RIO boasts of the world’s first automated heavy-haul rail network named AutoHaul, which was capable of moving about one million ton of iron ore a day in 2019. About one-third of the haul truck fleet across its Pilbara sites is autonomous as well. It continues to expand its Autonomous Drilling System (ADS), which currently has a fleet of 26 production drills across seven sites. It intends to make the Gudai-Darri iron ore mine in Western Australia’s Pilbara region one of the world’s most technologically advanced mines. Rio Tinto has joined forces with Caterpillar Inc. CAT to deploy the world’s first fully autonomous water truck at the mine. Water spraying is a vital part of mining operations, thus, this will enhance productivity by enabling digital tracking of water consumption and cutting down water wastage. Caterpillar’s three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills.

Last year, Newmont Mining Corporation NEM announced investment in implementation of the Autonomous Haulage System at Boddington mine in Australia to enhance safety and productivity, while extending mine life. Once operational, Boddington will be the first open pit gold mine in the world with a fully autonomous haul truck fleet.

Given its benefits to the miners, the driverless fleet is becoming increasingly popular among miners. The number of autonomous trucks is expected to surge over the next few years, thanks to major investments by miners globally.

BHP, Vale, Rio Tinto and Newmont currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
VALE S.A. (VALE) : Free Stock Analysis Report
 
Caterpillar Inc. (CAT) : Free Stock Analysis Report
 
BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report
 
Newmont Corporation (NEM) : Free Stock Analysis Report
 
Rio Tinto PLC (RIO): Free Stock Analysis Report
 
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Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. Indeed, Oroco Resource (CVE:OCO) stock is up 236% in the last year, providing strong gains for shareholders. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?

Given its strong share price performance, we think it's worthwhile for Oroco Resource shareholders to consider whether its cash burn is concerning. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.

See our latest analysis for Oroco Resource

How Long Is Oroco Resource'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. When Oroco Resource last reported its balance sheet in February 2021, it had zero debt and cash worth CA$22m. In the last year, its cash burn was CA$6.2m. That means it had a cash runway of about 3.5 years as of February 2021. A runway of this length affords the company the time and space it needs to develop the business. The image below shows how its cash balance has been changing over the last few years.

How Is Oroco Resource's Cash Burn Changing Over Time?

Because Oroco Resource isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. The skyrocketing cash burn up 116% year on year certainly tests our nerves. It's fair to say that sort of rate of increase cannot be maintained for very long, without putting pressure on the balance sheet. Admittedly, we're a bit cautious of Oroco Resource due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Oroco Resource Raise More Cash Easily?

While Oroco Resource 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. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Since it has a market capitalisation of CA$497m, Oroco Resource's CA$6.2m in cash burn equates to about 1.2% 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.

How Risky Is Oroco Resource's Cash Burn Situation?

It may already be apparent to you that we're relatively comfortable with the way Oroco Resource is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Although we do find its increasing cash burn to be a bit of a negative, once we consider the other metrics mentioned in this article together, the overall picture is one we are comfortable with. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. Taking a deeper dive, we've spotted 4 warning signs for Oroco Resource you should be aware of, and 1 of them is potentially serious.

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.

Vancouver, British Columbia–(Newsfile Corp. – September 3, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company", or "EMX") is pleased to announce that it has completed the second and final closing under the agreement to acquire an effective 0.418% Net Smelter Return ("NSR") royalty on the operating Caserones Copper-Molybdenum Mine (the "Caserones Royalty") located in northern Chile for US$34.1 million in cash (see EMX news releases dated August 17 and August 23, 2021).

As previously reported, EMX formed a 50%-50% partnership with Altus Strategies Plc (AIM: ALS) (TSXV: ALTS) (OTCQX: ALTUF) ("Altus") to acquire an effective 0.836% NSR royalty for US$68.2 million. EMX and Altus now each control an effective 0.418% royalty interest and each were responsible for US$34.1 million of the purchase price. EMX and Altus have formed a Chilean company, Minera Tercero, Spa ("Tercero"), of which EMX and Altus each own 50%. Tercero agreed to purchase 43% of the issued and outstanding shares of an underlying royalty holder, Sociedad Legal Minera California Una de la Sierra Peña Negra ("SLM California"), through a Share Purchase Agreement with 16 shareholders of SLM California to acquire ownership of 43% of SLM California's issued and outstanding shares, and thereby indirect ownership of 43% of SLM California's 1.944% NSR royalty interest in the Caserones property (i.e., a 0.836% NSR royalty interest, held as 0.418% by EMX and 0.418% by Altus).

Under the first closing, Tercero acquired 33% of SLM California for US$52.3 million. The second and final purchase of the remaining 10% of the shares of SLM California has now been completed for US$15.9 million.

The acquisition of the Caserones Royalty is expected to provide immediate enhancement to EMX's royalty cash flow and to secure long-term proceeds from copper and molybdenum production in one of the world's top mining regions.

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

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

For further information contact:

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

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

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

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

Forward-Looking Statements

This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the second closing of the Caserones royalty purchase, , expected cash flows from EMX's interest in the Caserones royalty, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential", "upside" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: failure of the vendors under the Share Purchase Agreement to perform their obligations, fluctuations in or problems with production from the Caserones mine, unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95491

If you want to know who really controls Poseidon Nickel Limited (ASX:POS), then you'll have to look at the makeup of its share registry. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. We also tend to see lower insider ownership in companies that were previously publicly owned.

With a market capitalization of AU$376m, Poseidon Nickel is a small cap stock, so it might not be well known by many institutional investors. In the chart below, we can see that institutions own shares in the company. Let's delve deeper into each type of owner, to discover more about Poseidon Nickel.

View our latest analysis for Poseidon Nickel

What Does The Institutional Ownership Tell Us About Poseidon Nickel?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

Poseidon Nickel already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Poseidon Nickel's historic earnings and revenue below, but keep in mind there's always more to the story.

Hedge funds don't have many shares in Poseidon Nickel. Looking at our data, we can see that the largest shareholder is Black Mountain Metals LLC with 13% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 9.3% and 4.2%, of the shares outstanding, respectively.

Our studies suggest that the top 19 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.

Insider Ownership Of Poseidon Nickel

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

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

Our most recent data indicates that insiders own some shares in Poseidon Nickel Limited. As individuals, the insiders collectively own AU$12m worth of the AU$376m company. This shows at least some alignment. You can click here to see if those insiders have been buying or selling.

General Public Ownership

The general public — including retail investors — own 55% of Poseidon Nickel. This size of ownership gives investors from the general public some collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions.

Private Company Ownership

Our data indicates that Private Companies hold 14%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. To that end, you should learn about the 4 warning signs we've spotted with Poseidon Nickel (including 1 which is potentially serious) .

Of course this may not be the best stock to buy. Therefore, you may wish to see our free collection of interesting prospects boasting favorable financials.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

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.

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Ferrexpo plc (LON:FXPO) as an investment opportunity by estimating the company's future cash flows and discounting them to their present value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Believe it or not, it's not too difficult to follow, as you'll see from our example!

We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

View our latest analysis for Ferrexpo

Step by step through the calculation

We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or 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.

Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$2.5b

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 0.9%. We discount the terminal cash flows to today's value at a cost of equity of 5.9%.

Terminal Value (TV)= FCF₂₀₃₁ × (1 + g) ÷ (r – g) = US$193m× (1 + 0.9%) ÷ (5.9%– 0.9%) = US$3.9b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$3.9b÷ ( 1 + 5.9%)¹⁰= US$2.2b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$4.7b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of UK£3.8, the company appears quite good value at a 34% discount to where the stock price trades currently. 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

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual 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 Ferrexpo 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 5.9%, which is based on a levered beta of 1.047. 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.

Next Steps:

Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. What is the reason for the share price sitting below the intrinsic value? For Ferrexpo, we've put together three relevant elements you should further examine:

1. Risks: For example, we've discovered 3 warning signs for Ferrexpo (1 can't be ignored!) that you should be aware of before investing here.

2. Future Earnings: How does FXPO's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.

3. 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!

PS. Simply Wall St updates its DCF calculation for every British 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.

Owing to the growing awareness regarding the risks of climate change, organizations globally are fervently working toward a reduced-carbon future. In sync with this, Caterpillar Inc. CAT recently announced that it will begin offering 100% hydrogen fueled generator sets from late 2021. The company will also commence roll out of power generation solutions that can be configured to operate on natural gas blended with up to 25% hydrogen. This is part of its ongoing efforts to help customers achieve their climate-related goals by providing products, which facilitate fuel transition, increase operational efficiency and reduce emissions. It is worth mentioning that Caterpillar’s Solar Turbines gas turbine generator sets have been running on high hydrogen blends for decades and are capable of operating on 100% hydrogen today.

The mining industry, particularly, is an energy intensive industry and is considered a significant source of Greenhouse Gas (“GHG”) emissions. Hydrogen is now being considered as a promising alternative energy source to fossil fuels given its abundance, versatility and zero-emissions. The Hydrogen Council estimates that hydrogen could fulfill 18% of global energy demand by 2050.

Owing to government regulations and public demand, leading miners have been striving to transition from diesel to hydrogen fuel cell power for their heavy-duty vehicles as these have the same payload capability and performance of diesel vehicles, while ensuring no emissions. This energy transition has immense potential for Caterpillar and other mining equipment makers in the long haul.

Recently, BHP Group BHP announced a partnership with Caterpillar to develop and deploy zero-emissions mining trucks at its sites to help reduce GHG emissions. Miner, Anglo American, is working toward developing the world’s largest hydrogen-powered mine haul truck.

Meanwhile, the intensifying global focus on shifting from fossil fuels to zero emissions will require a large amount of commodities. This is a win-win situation for both miners and mining equipment makers. Capitalizing on this trend, Caterpillar is helping customers achieve their energy transition through its innovations, which include a battery powered, zero-emissions switcher locomotive and underground loader, and reciprocating engines and gas turbines that burn hydrogen blends, landfill gas and other biogases. It is also developing a variety of alternative power solutions to support a lower-carbon future, including battery-powered construction machines. Caterpillar expects that 100% of its new products through 2030 will be more sustainable than the previous generation via collaborations with customers, reduced waste, improved design for rebuild/remanufacturing, lower emissions and improved efficiency.

Caterpillar’s peer, Komatsu Ltd. KMTUY, will start a hydrogen development program to develop hydrogen power as an alternative to diesel for heavy-duty mining dump trucks this year, with an aim of launching its first vehicles in 2030. Komatsu and several of its customers, Rio Tinto plc RIO, BHP, Codelco and Boliden have formed the Komatsu GHG Alliance to work toward delivering zero-emissions equipment solutions. The company has been working to reduce greenhouse gas emissions for customers through innovative product development for decades in several areas including electric diesel dump trucks, electric power shovels, regenerative energy storage capabilities and fuel saver programs.

Caterpillar and Komatsu fall under the Zacks Manufacturing – Construction and Mining industry. The Zacks Manufacturing – Construction and Mining industry has outperformed the Industrial Products Sector and the S&P 500 composite over the past year. Over this period, the industry has gained 41.4% compared with the sector's and the S&P 500 composite’s rally of 31.9% and 27.7%, respectively.

Image Source: Zacks Investment Research

The industry is poised to gain on improving commodity prices that will support spending in the mining industry, and solid construction demand. However, the industry is currently grappling with higher input and logistic costs, and labor shortages. Caterpillar and Komatsu has a Zacks Rank #3 (Hold) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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

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Rio Tinto PLC (RIO): Free Stock Analysis Report

Komatsu Ltd. (KMTUY) : Free Stock Analysis Report

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Zacks Investment Research

European markets saw a muted open on Thursday morning in London, with the FTSE 100 pulling back slightly at the opening bell. 

Markets are being weighed by talk of the European Central Bank withdrawing its monetary stimulus due to rising inflation.

BHP Group (BHP.L) was among the top fallers in the FTSE, falling 4.8% in early trade as it was outbid for a nickel miner active in Canada’s highly-prospective Ring of Fire region by billionaire Andrew Forrest. 

Nickel is a key ingredient in the lithium-ion batteries used in electric vehicles and to store renewable power — and the Ring of Fire region in northern Ontario is seen among Canada’s largest untapped reserves of the metal.

The FTSE 100 (^FTSE) was trading almost flat by 8.30am in London. Meanwhile the DAX (^GDAXI) was up 0.1% and the CAC (^FCHI) was flat. 

US stock futures also pointed to a broadly muted open later on. S&P 500 (ES=F) and Dow futures (YM=F) were both trading flat, while the Nasdaq (NQ=F) looked set to open 0.1% higher. 

The cautious moves come following the ADP job report on Wednesday, which showed the labour market recovery in the US is taking longer than expected. 

"As a result, investor sentiment was mixed in yesterday's session, with the Nasdaq and S&P 500 rising while the Dow fell," said Naeem Aslam, chief market analyst at AvaTrade.

"It is worth noting that Nasdaq, the tech-savvy index, closed yesterday's session at an all-time high as investors shifted to defensive stocks."

Read more: How to get yourself noticed when you're working from home

Markets in Asia saw a mixed close overnight. The Hang Seng (^HSI) was flat, the SSE Composite (000001.SS) was up 0.7% and the Nikkei (^N225) rose 0.3%. 

Cautious moves were compounded by fears that the Chinese government would move to impose more crackdowns. Reuters reported that 11 ride hailing firms had been summoned by the government to a meeting. 

"Another day, another clampdown," said Jeffrey Halley, senior market analyst for Asia Pacific at OANDA. "Dip-buyers in China equities will keep dipping their toes. However, I believe we are a long way still from repricing China equities to a level that balances the Government's "enthusiasm" for common prosperity."

Watch: What is inflation and why is it important?

Southern Copper (NYSE:SCCO) has had a rough three months with its share price down 11%. However, stock prices are usually driven by a company’s financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on Southern Copper's ROE.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

Check out our latest analysis for Southern Copper

How Is ROE Calculated?

The formula for ROE is:

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

So, based on the above formula, the ROE for Southern Copper is:

35% = US$2.8b ÷ US$8.0b (Based on the trailing twelve months to June 2021).

The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.35 in profit.

What Has ROE Got To Do With 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.

Southern Copper's Earnings Growth And 35% ROE

First thing first, we like that Southern Copper has an impressive ROE. Additionally, the company's ROE is higher compared to the industry average of 17% which is quite remarkable. As a result, Southern Copper's exceptional 22% net income growth seen over the past five years, doesn't come as a surprise.

As a next step, we compared Southern Copper's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 13%.

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Has the market priced in the future outlook for SCCO? You can find out in our latest intrinsic value infographic research report.

Is Southern Copper Using Its Retained Earnings Effectively?

Southern Copper's significant three-year median payout ratio of 83% (where it is retaining only 17% of its income) suggests that the company has been able to achieve a high growth in earnings despite returning most of its income to shareholders.

Additionally, Southern Copper has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to drop to 41% over the next three years. Despite the lower expected payout ratio, the company's ROE is not expected to change by much.

Conclusion

In total, we are pretty happy with Southern Copper's performance. In particular, its high ROE is quite noteworthy and also the probable explanation behind its considerable earnings growth. Yet, the company is retaining a small portion of its profits. Which means that the company has been able to grow its earnings in spite of it, so that's not too bad. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page 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.

Candy Vein Long Section – 2020 and 2021 Drill Intercepts and NRC-21-09 to NRC-21-11 Results

Canasil Nora Silver-Gold Project, Durango, Mexico

VANCOUVER, British Columbia, Sept. 02, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces results from the second and third drill holes of the 2021 follow up drill program, NRC-21-10 and NRC-21-11, testing below and between the 2020 maiden drill intercepts on the Candy vein at the Nora silver-gold project in north-central Durango State, Mexico. Drill hole NRC-21-10 targeted the Candy vein structure approximately 60 metres (‘m’) down dip below NRC-20-04, and NRC-21-11 was targeted between and at approximately the same elevation as NRC-20-04 and NRC-20-06. Both drill holes returned wider mineralized structures carrying multiple bands with high grade gold and silver mineralization compared to the corresponding 2020 drill holes (announced on Oct. 24, and Dec. 09, 2020).

Highlights from drill holes NRC-21-10 and NRC-21-11 are detailed in the table below:

Drill hole NRC-21-11 was targeted to intercept the Candy vein at the same elevation and in between NRC-20-04 and NRC-20-06, which are approximately 120 m apart along the north-south strike of the vein. The overall structure in NRC-21-11 has an intercept width of 38.08 m (TW 35.60 m), from 131.82 m to 170.00 m. This compares with an intercept width of 3.73 m (TW 3.05 m) in NRC-20-04 and 16.65 m (TW 15.51 m) in NRC-20-06 from 132.85 m to 149.50 m. There are three mineralized bands in NRC-21-11 compared to one mineralized band in NRC-20-04, and similar to the three bands seen in NRC-20-06. The mineralized bands in NRC-21-11 are wider than those in NR-21-04 and NRC-21-06. The two lower and narrower mineralized bands may be the tops of vein structures appearing at this level of the system.

Drill hole NRC-21-10 was targeted 60 m down dip below NRC-20-04 and returned an overall structure of 27.90 m (TW 25.20 m) also with three mineralized bands carrying gold and silver mineralization, returning wider mineralized zones than in NRC-20-04.

Canasil President and CEO, Bahman Yamini, commented: “Following the high-grade gold and silver intercepts returned from NRC-21-09 within a wide mineralized structure, it is very encouraging to see drill holes NRC-21-10 and NRC-21-11 continue to cut wide mineralized structures with gold and silver grades which represent high value mineralized material over significant widths. The multiple mineralized bands within the structures are consistent and suggest the possibility of stacked veins within the Candy vein system. We are looking forward to the results from drill hole NRC-21-12, which targeted the Candy vein approximately 60 m down dip below NRC-21-11, and mid-way between NRC-21-09 and NRC-21-10. The 2021 drill holes are forming a strongly mineralized gold-silver panel which is open along strike in both directions and to depth, and warrants continued follow up drilling.”

The 2021 drill program to date included four drill holes completed in July 2021, NRC-21-09 to NRC-21-12, for a total of 932 m, targeted below and in between the 2020 drill holes NRC-20-04 and NRC-20-06 as shown on the Candy vein long section below. Drill hole NRC-21-12 intersected the Candy vein structure as projected and a total of 67 assay samples are currently being processed at ALS Labs. The 2020 and 2021 drill programs have tested the Candy vein structure over a strike distance of 500 m and to a depth of 200 m.

The drill program was implemented by the Company’s exploration team in Mexico under the direction of Eng. Erme Enriquez (CPG). All core samples are logged and prepared at the Company’s core storage facility in Durango, Mexico, and sent to ALS Laboratories in Zacatecas, Mexico, for preparation and then on to ALS Global in Vancouver for gold and silver analyses by fire assay with an atomic absorption finish (“FA-AA”) on a 30 gram split, and for silver, copper, lead, zinc and trace elements by ICP analysis following digestion of 0.50 gram sample in aqua regia. Over limit silver and copper are assayed using an aqua regia digestion, followed by ICP-AES or AAS finish, and over limit gold and silver assayed by gravimetric finish (Au-GRA21 and Ag-GRA-21). The Company's QA/QC program includes inserting certified analytical standards and blanks into the sample batches, and the subsequent diligent monitoring of results for quality analytical assurance.

The technical information herein has been reviewed and approved by Robert Brown (P. Eng.), a Qualified Person as defined by National Instrument 43-101. Mr. Brown is a technical advisor to Canasil.

About Nora Silver-Gold-Copper-Zinc-Lead Project, Durango State, Mexico:

The Nora project is located approximately 200 km north-west of the City of Durango, with good access and infrastructure. The geological setting is a Tertiary-aged volcanic flow-dome complex. Gold-silver mineralization is hosted within two structurally-controlled epithermal veins, Candy and Nora. Mineralization is typical of that found at many mines in the region, with gold and silver associated with galena, sulfosalt minerals and lesser pyrite, sphalerite and chalcopyrite. There is evidence of some historical mining activity on the Candy vein, which is exposed in discontinuous outcrops for over 900 metres. The fault structure hosting the Candy vein has been traced for a distance of over 3 km. Samples of vein outcrop and mineral dumps from the Candy vein returned significant gold, silver, copper, zinc and lead values. The second vein, Nora, is found 600 metres northeast of the Candy vein and can be traced for 230 metres with widths of over 9.0 metres. Surface samples from this vein returned anomalous silver values associated with trace sulphides, with a geochemical signature typical of the higher levels of epithermal vein systems in the region. The 2020 drill program was the first drilling at the Nora project and returned encouraging intercepts with high gold, silver and copper values from the Candy vein.

Historical systematic grid soil sampling over an area of 3 km by 2 km covering the Candy and Nora veins and projected extensions, showed elevated silver, base metal (copper, lead and zinc) and pathfinder (antimony and arsenic) values. The combination of the vein outcrops with large areas of anomalous silver and base metal values in soil samples may indicate additional concealed mineral systems. Other major deposits in the region include SSR Mining’s La Pitarrilla deposit located 50 km east of the Nora project.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

For further information please contact:

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 news release.

This news release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.

A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f9392c4c-c134-437e-af85-003149108718

Drilling Planned to Test No 18, No 22 and No 2 Gold Veins

MIRAMICHI, New Brunswick, Sept. 02, 2021 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce it plans to commence diamond drilling on September 7, 2021 at its wholly-owned Menneval gold project located in the mineral-rich province of New Brunswick. The initial hole will test the No 18 vein where the Company reported visible gold with assay results grading up to 3,955 g/t gold over 0.10 m thick from a trench sample as reported by the Company December 03, 2020.

Other targets include vein No 2 with grab samples grading up to 363.00 g/t and vein No. 22 where the grab samples grading up to 11.30 g/t. These veins are part of a network of gold-bearing veins trending northeasterly over a strike-length of 1,400 m from the No. 2 vein. The veins are associated with a series of anomalous soils ranging from 5 to 206 ppb (0.206 g/t) gold that trend over a strike length of 2,800 metres east from the No. 18 vein. The Company expects to drill approximately 10 drill holes for a minimum of 1,200 metres. For additional information and maps visit Menneval Gold Project.

The Menneval Project: The Menneval Gold project is SLAM’s flagship project and the Company intends to focus on testing the strike and depth extent of the swarm of new gold veins discovered in 2020. The expanded property is comprised of 572 mineral claim units covering 12,390 hectares located in northwestern New Brunswick. The Company holds a 100% interest in these claims with the exception of 4 claim units covering 105 hectares that are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR.

About SLAM Exploration Ltd:

SLAM is a project-generating resource company focused on is its flagship Menneval Gold project where the 2021 trenching program is underway. The Company intends to conduct preliminary prospecting and geochemistry on the Gold Brook, Birch Lake gold, Wilson gold and Ramsay gold projects in the vicinity of the Millstream Break in northern New Brunswick. SLAM also expects to conduct preliminary programs on the Jake Lee, Mount Victor and other gold properties on the flanks of the Sawyer Brook and Wheaton Bay faults in southern New Brunswick. SLAM owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario and the Mount Uniacke gold project in Nova Scotia. The Company owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) that is subject to an option agreement. SLAM holds NSR royalties on the Superjack, Nash Creek and Coulee zinc‐lead‐copper‐silver properties in the BMC.

The Company has generated cash from the sale of securities received from mineral property option agreements with other companies and has sufficient funds for the work currently in progress. The Company has applied for funding assistance up to $100,000 under the New Brunswick Junior Mining Assistance Program in support of a proposed 2021 drilling program. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.

QA-QC Sampling Procedures
The trenching and soil geochemical results referenced above were previously reported as were the QA-QC Sampling Procedures.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.

Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, British Columbia, Sept. 01, 2021 (GLOBE NEWSWIRE) — Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull” or the “Company”) is pleased to announce the timing and additional details regarding the previously announced distribution (the “Distribution”) to Silver Bull shareholders of shares of Arras Minerals Corp. (“Arras”).

Pursuant to the Distribution, shareholders of Silver Bull common stock as of September 10, 2021 (the “Record Date”) will be entitled to receive one common share of Arras for each share of Silver Bull common stock held as of that date. The Distribution is scheduled to occur on September 24, 2021 (the “Distribution Date”).

Immediately following completion of the Distribution, Silver Bull’s shareholders will be issued shares in Arras so that, collectively, they will own approximately 84% of Arras, on a non-diluted basis, and Silver Bull will own approximately 4% of Arras, on a non-diluted basis. The remaining approximately 12% of Arras will be held by those who participated in Arras’ private placement in April 2021.

In connection with the approval of the Distribution by the board of directors of Silver Bull, Silver Bull and Arras entered into a separation and distribution agreement, dated August 31, 2021, setting forth the principal actions to be taken in connection with the Distribution and providing a framework for the relationship between the parties after the Distribution.

The Toronto Stock Exchange (the “TSX”) has decided to implement “due bill” trading in connection with the Distribution. Each “due bill” will represent an entitlement to an Arras share to be distributed pursuant to the Distribution and will attach to each Silver Bull share between the opening of trading on September 9, 2021 and the closing of trading on September 24, 2021, allowing Silver Bull shares to carry the value of the entitlement to the Arras share until the Distribution is made. As such, Silver Bull shareholders who sell Silver Bull shares up to the end of trading on the Distribution Date (i.e., when Silver Bull shares trade with an attached “due bill” representing an entitlement to Arras shares to be distributed pursuant to the Distribution) will be selling their right to receive Arras common shares in the Distribution. “Ex-distribution” trading (i.e., where Silver Bull shares trade without an entitlement to Arras shares to be distributed pursuant to the Distribution) will commence at the opening of trading on September 27, 2021. The due bill redemption date (i.e., the date when holders of due bill entitlements are expected to settle their entitlements) will be September 28, 2021. It is expected that the OTCQB marketplace will also implement “due bills” trading.

Most Silver Bull shareholders hold their Silver Bull shares through a bank or brokerage firm. In such cases, the bank or brokerage firm would be said to hold the shares in “street name,” and ownership would be recorded on the bank’s or brokerage firm’s books. If a Silver Bull shareholder holds Silver Bull shares through a bank or brokerage firm, the bank or brokerage firm will credit the shareholder’s account for the Arras common shares that the shareholder is entitled to receive in the Distribution. If Silver Bull shareholders have any questions concerning the mechanics of having shares held in “street name,” they should contact their bank or brokerage firm.

In connection with the Distribution, all registered Silver Bull shareholders holding physical share certificates or shares in book-entry form with the Company’s transfer agent (Olympia Trust Company) will be issued Arras shares in book-entry form only, which means that no physical share certificates will be issued. For questions relating to the transfer or mechanics of the Distribution, please contact Olympia Trust Company by telephone at 1-833-684-1546 (toll free in North America) or by online inquiry at cssinquiries@olympiatrust.com.

Upon the consummation of the Distribution, Arras will not be listed on a public stock exchange but will report under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), as a non-U.S. company with foreign private issuer status. The Arras shares distributed to Silver Bull shareholders, though freely transferable in the United States, may be illiquid until such time as the shares are listed or a trading market develops, if at all. The Distribution of Arras shares by Silver Bull will constitute a distribution of securities that is exempt from the prospectus requirements of Canadian securities legislation. As such, the first trade in Arras shares in Canada will be a distribution for the purposes of Canadian securities laws and subject to prospectus requirements unless certain conditions are satisfied. Until such conditions are satisfied, Arras shares may only be resold in Canada pursuant to an exemption from prospectus requirements. Silver Bull warrants and options will also be adjusted pursuant to the Distribution. For further details regarding the Canadian resale restrictions on the Arras shares distributed by Silver Bull and the adjustments being made to Silver Bull warrants and options in connection with the Distribution, please refer to the Registration Statement on Form 20-F of Arras filed on September 1, 2021 with the U.S. Securities and Exchange Commission (the “SEC”) on EDGAR at www.sec.gov/edgar (the “20-F”).

Tax Implications

The following discussion is qualified in its entirety by the discussion of tax matters set forth in the 20-F. Silver Bull shareholders entitled to receive the Distribution of Arras shares should make reference to that discussion for further details regarding the tax consequences of the Distribution.

For U.S. federal income tax purposes, the receipt of Arras common shares by Silver Bull shareholders should be treated as a distribution of property in an amount equal to the fair market value of the common shares received. The Distribution of Arras common shares should be treated as dividend income to the extent considered paid out of Silver Bull’s current and accumulated earnings and profits. Distributions in excess of Silver Bull’s current and accumulated earnings and profits will be treated as a non-taxable return of capital to the extent of the holder’s basis in its Silver Bull shares and thereafter as capital gain. Silver Bull will not be able to determine the amount of the Distribution that will be treated as a dividend until after the close of the taxable year of the Distribution because its current year earnings and profits will be calculated based on its income for the entire taxable year in which the Distribution occurs. However, based on current projections, it is reasonably expected that a portion of the Distribution of Arras common shares should be treated as a return of capital rather than a dividend.

For Canadian tax purposes, the Distribution of Arras shares will be considered a dividend in kind on the Silver Bull shares to shareholders resident in Canada. Such shareholders will be required to include in computing their income for a taxation year the amount of such dividend (equal to the fair market value of the Arras shares received). A dividend in kind of the Arras shares paid in respect of the Silver Bull shares to a shareholder who is not a resident of Canada will not be subject to Canadian withholding tax or other income tax under the Income Tax Act (Canada).

The portion of the Distribution treated as a dividend for U.S. federal income tax purposes that is made to non-U.S. holders will generally be subject to U.S. federal gross-basis income tax at a rate of 30%, or a lower rate specified in an applicable income tax treaty. This tax is generally collected by way of withholding. Because the amount constituting a dividend will not be known at the time of the Distribution, Silver Bull or the applicable withholding agent is generally required to withhold on entire amount of the Distribution. Silver Bull or the applicable withholding agent may obtain the funds necessary to remit any such withholding tax by asking the non-U.S. holder to provide the funds, by using funds in such holder’s account with the applicable withholding agent or by selling (on such holder’s behalf) the portion of Arras common shares otherwise distributable to such non-U.S. holder needed to pay that tax, together with associated expenses.

EACH REGISTERED HOLDER OF SILVER BULL COMMON STOCK THAT IS A NON-U.S. HOLDER WILL HAVE THE OPTION TO PROVIDE THE FUNDS NECESSARY TO REMIT ANY APPLICABLE WITHHOLDING TAX TO THE IRS. IF SUCH FUNDS, TOGETHER WITH ANY OTHER REQUIRED DOCUMENTATION TO BE PROVIDED FROM SUCH HOLDER, ARE NOT RECEIVED BY SEPTEMBER 17, 2021, THEN, IF APPLICABLE, A PORTION OF THE ARRAS COMMON SHARES OTHERWISE DISTRIBUTABLE TO SUCH HOLDER WILL BE WITHHELD AND SOLD (ON SUCH HOLDER’S BEHALF) IN ORDER TO PAY ANY APPLICABLE WITHHOLDING TAX.

As this Distribution, as described above, is reasonably expected to result in a taxable dividend, the Company or an applicable withholding agent generally will be required to withhold with respect to the Distribution being made to certain non-U.S. holders. The Company implores shareholders who have not yet provided proof of their tax residency to do so by filing the appropriate forms with their bank, brokerage firm or for those who hold physical share certificates or in book entry form with the Company’s transfer agent, Olympia Trust Company, prior to the Record Date.

Benefits of the Transaction

The Distribution is expected to:

• provide investors with the potential for greater value than a single company, by unlocking a premium value for the Beskauga and Sierra Mojada projects separately;

• create two separate companies that have clear commodity and regional demarcation, allowing for targeted branding and marketing;

• allow each company flexibility in allocating resources and deploying capital in a manner consistent with the separate business strategies;

• broaden the appeal of the potential investor base for both companies, with Kazakhstan appealing to European and Middle Eastern investors and Mexico potentially appealing to North American investors; and

• facilitate the ability of the companies to separately finance the Beskauga and Sierra Mojada projects based on the unique characteristics of each project and jurisdiction.

Tim Barry, President, CEO and director of Silver Bull states, “We continue to believe greater value will be created with two independent companies compared to the value that would be achieved by keeping the two sets of assets in a single company. Both the Beskauga and Sierra Mojada projects have NI 43-101 compliant resources as well as exploration upside and we believe the split will allow each company to execute its own unique business strategy and achieve a premium for any success in resource development and exploration. With continued strong metal prices and demand for commodities, we are confident that now is the right time to separate the projects in different companies.”

Beskauga Deposit, Kazakhstan: The Beskauga deposit is an open pittable gold-copper-silver deposit with a NI 43-101 compliant “Indicated” Mineral Resource of 207 million tonnes grading 0.35 g/t gold, 0.23% copper and 1.09 g/t silver for 2.33 million ounces of contained gold, 476.1 thousand tonnes of contained copper, and 7.25 million ounces of contained silver and an “Inferred” Mineral Resource of 147 million tonnes grading 0.33 g/t gold, 0.15% copper and 1.02 g/t silver for 1.56 million ounces of contained gold, 220.5 thousand tonnes of contained copper, and 4.82 million ounces of contained silver.

The constraining pit was optimised and calculated using a NSR cut-off based on a price of: $1,500/oz for gold, $2.80/lb for copper, $17.25/oz for silver, and with an average recovery of 81.7% for copper and 51.8% for both gold and silver. Mineralization remains open in all directions as well as at depth.

Table 1. Pit-constrained Mineral Resource estimate for the Beskauga copper-gold project

For a full summary of the Beskauga resource please refer to the Company’s press release dated January 28, 2021 and filed on the Company’s profile at www.SEDAR.com, or by visiting the following link:

https://www.silverbullresources.com/news/silver-bull-announces-maiden-ni-43-101-resource-of-2.33-million-ounces-of-gold-476-thousand-tonnes-of-copper-in-the-indicated/

Sierra Mojada deposit, Mexico: Sierra Mojada is an open pittable oxide deposit with a NI 43-101 compliant Measured and Indicated “global” Mineral Resource of 70.4 million tonnes grading 3.4% zinc and 38.6 g/t silver for 5.35 billion pounds of contained zinc and 87.4 million ounces of contained silver. Included within the “global” Mineral Resource is a Measured and Indicated “high grade zinc zone” of 13.5 million tonnes with an average grade of 11.2% zinc at a 6% cutoff, for 3.336 billion pounds of contained zinc, and a Measured and Indicated “high grade silver zone” of 15.2 million tonnes with an average grade of 114.9 g/t silver at a 50 g/t cutoff for 56.3 million contained ounces of silver. Mineralization remains open in the east, west, and northerly directions.

The constraining pit was optimised and calculated using a NSR cut-off based on a silver price of US$15/oz, and a zinc price of US$1.20/lb and assumed a recovery for silver of 75% and a recovery for zinc of 41%. Approximately 60% of the current 3.2 kilometer mineralized body is at or near surface before dipping at around 6 degrees to the east.

For a full summary of the Sierra Mojada resource, please refer to the Company’s press release dated October 31, 2018 and filed on the Company’s profile at www.SEDAR.com, or by visiting the following link:

https://www.silverbullresources.com/news/silver-bull-resources-announces-5.35-billion-pounds-zinc-87.4-million-ounces-silver-in-updated-sierra-mojada-measured-and/

Sierra Mojada is currently under an illegal blockade from a group called Sociedad Cooperativa de Exploración Minera Mineros Norteños, S.C.L. (“Mineros Norteños”).

In 2014, Mineros Norteños filed a lawsuit against Silver Bull’s Mexican subsidiary “Minera Metalin”. In the lawsuit, Mineros Norteños sought payment of a capped 2% production royalty, including interest at a rate of 6% per annum since August 30, 2004, even though no revenue has been produced from the applicable mining concessions. Mineros Norteños also sought payment of wages to the Mineros Norteños members since August 30, 2004 under this agreement, even though a mineral processing plant was never built and none of the individuals were hired or performed work for Silver Bull under this agreement and Silver Bull did not commit to hiring them.

To date, Mineros Norteños has lost three separate rulings on its lawsuit. In an attempt to force Silver Bull into making a settlement, Mineros Norteños has undertaken to illegally block access to the project since September 2019. To ensure the safety of all involved, Silver Bull has elected to halt all operations on the project until a resolution can be found.

Post-Distribution of Arras Shares

Following the Distribution, Silver Bull will focus on the Sierra Mojada asset and surrounding area in Mexico and continue to manage the joint venture option with South32. It will continue to trade under the symbol “SVB” on the TSX, and “SVBL” on the OTCQB. The current management and board are expected to remain in place to continue to run the Company.

Arras will focus on the Beskauga deposit and the exploration licenses held in the surrounding area. In addition, current Silver Bull management and board have been appointed as management and board of Arras, along with G. Wesley Carson as an additional independent board member.

Both companies will remain headquartered in Vancouver.

The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.

On behalf of the Board of Directors
“Tim Barry”

Tim Barry, CPAusIMM
Chief Executive Officer, President and Director

INVESTOR RELATIONS:
+1 604 687 5800 info@silverbullresources.com

Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This press release uses the terms “measured resources”, “indicated resources”, and “inferred resources” which are defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the SEC. The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.

Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.

Cautionary note regarding forward looking statements: This news release contains forward-looking statements regarding future events and Silver Bull’s future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding the expected timing, mechanics, income tax consequences, benefits and other aspects of the proposed Distribution, expected post-Distribution management focus, and the Mineral Resource estimates for the Beskauga and Sierra Mojada projects. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull’s exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull’s management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as whether the Distribution is ultimately achieved, in the manner and on the timeline currently contemplated, or at all, whether some or all of the expected benefits of the Distribution will be achieved, the impact of the Distribution on Silver Bull shareholders, whether management’s focus will be as described in this news release following the Distribution, the results of exploration activities and whether the results continue to support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended October 31, 2020 and our Quarterly Report on Form 10-Q for the interim periods ended January 31, 2021, April 30, 2021, and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Even if it's not a huge purchase, we think it was good to see that Mark Lindh, the Independent Non-Executive Chairman of Aerometrex Limited (ASX:AMX) recently shelled out AU$100k to buy stock, at AU$0.78 per share. While that isn't the hugest buy, it actually boosted their shareholding by 77%, which is good to see.

Check out our latest analysis for Aerometrex

The Last 12 Months Of Insider Transactions At Aerometrex

Notably, that recent purchase by Mark Lindh is the biggest insider purchase of Aerometrex shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of AU$0.78. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. Happily, the Aerometrex insiders decided to buy shares at close to current prices.

Aerometrex insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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

Does Aerometrex 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. Aerometrex insiders own 53% of the company, currently worth about AU$39m based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

So What Does This Data Suggest About Aerometrex Insiders?

It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Aerometrex. Looks promising! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Aerometrex. In terms of investment risks, we've identified 1 warning sign with Aerometrex and understanding it should be part of your investment process.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.

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

MONTREAL, Sept. 01, 2021 (GLOBE NEWSWIRE) — SIRIOS RESOURCES INC. (TSX-V: SOI) announced that it has closed the first tranche of a non-brokered private placement, for aggregate gross proceeds of $787,472. In connection with the offering, the Sirios issued 6,562,266 common Flow-Through shares of the share capital of the Corporation at a price of $0.12 per Flow-Through Share.

The gross proceeds from the sale of the Flow-Through Shares will be used by the Corporation to incur eligible “Canadian exploration expenses” related to the Cheechoo, Aquilon and Maskwa gold projects of the Corporation located in Eeyou Istchee Baie James in the province of Quebec.

Finder’s fees totalling $14,000 were paid to finders in connection with this offering. The Flow-Through Shares issued pursuant to this offering are subject to a restricted hold period ending on January 1^st, 2022. The offering remains subject to the final approval of the TSX Venture Exchange. Depending on market conditions, the Corporation may decide to proceed with the closing of additional tranches of the private placement.

Each Flow-Through Share will qualify as a “flow-through share” within the meaning of the Income Tax Act (Canada) and the Taxation Act (Québec). The Qualifying Expenditures will be renounced in favour of the subscribers with an effective date no later than December 31, 2021.

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

About Sirios Resources Inc.
Pioneer in the discovery of significant gold deposits in the Eeyou Istchee James Bay region of Québec, Canada. Sirios Resources Inc. focuses its work mainly on its Cheechoo gold discovery, while actively exploring the high auriferous potential of its other properties.

Visit our website at www.sirios.com or contact:
Dominique Doucet, President, Eng.
514-918-2867
ddoucet@sirios.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.

Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the renunciation of the eligible “Canadian exploration expenses” by the Corporation in favour of the subscribers no later than December 31, 2021, the closing of any additional tranches to the private placement, the final approval of the TSX Venture Exchange in connection with the Offering, the development of the Cheechoo, Aquilon and Maskwa projects and, generally, the above “About Sirios Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation’s disclosure documents on the SEDAR website at www.sedar.com.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavors to develop the Cheechoo, Aquilon and Maskwa projects and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

It hasn't been the best quarter for First Quantum Minerals Ltd. (TSE:FM) shareholders, since the share price has fallen 11% in that time. But that doesn't change the fact that the returns over the last five years have been very strong. In fact, the share price is 154% higher today. To some, the recent pullback wouldn't be surprising after such a fast rise. Of course, that doesn't necessarily mean it's cheap now.

Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns.

Check out our latest analysis for First Quantum Minerals

To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace…' One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

During the five years of share price growth, First Quantum Minerals moved from a loss to profitability. That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here. Given that the company made a profit three years ago, but not five years ago, it is worth looking at the share price returns over the last three years, too. We can see that the First Quantum Minerals share price is up 72% in the last three years. In the same period, EPS is up 177% per year. This EPS growth is higher than the 20% average annual increase in the share price over the same three years. So you might conclude the market is a little more cautious about the stock, these days.

You can see how EPS has changed over time in the image below (click on the chart to see the exact values).

It is of course excellent to see how First Quantum Minerals has grown profits over the years, but the future is more important for shareholders. Take a more thorough look at First Quantum Minerals' financial health with this free report on its balance sheet.

A Different Perspective

It's nice to see that First Quantum Minerals shareholders have received a total shareholder return of 94% over the last year. That's including the dividend. That gain is better than the annual TSR over five years, which is 21%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Like risks, for instance. Every company has them, and we've spotted 2 warning signs for First Quantum Minerals (of which 1 is a bit unpleasant!) you should know about.

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).

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

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.

In the latest trading session, Southern Copper (SCCO) closed at $62.59, marking a -0.71% move from the previous day. This move lagged the S&P 500's daily loss of 0.14%.

Heading into today, shares of the miner had lost 2.45% over the past month, outpacing the Basic Materials sector's loss of 2.8% and lagging the S&P 500's gain of 3.13% in that time.

Investors will be hoping for strength from SCCO as it approaches its next earnings release. The company is expected to report EPS of $1.15, up 76.92% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.88 billion, up 35.25% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.65 per share and revenue of $11.11 billion. These totals would mark changes of +129.06% and +39.09%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for SCCO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.57% lower within the past month. SCCO is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, SCCO is holding a Forward P/E ratio of 13.56. This valuation marks a premium compared to its industry's average Forward P/E of 12.69.

We can also see that SCCO currently has a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining – Non Ferrous industry currently had an average PEG ratio of 0.81 as of yesterday's close.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% of all 250+ industries.

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

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Southern Copper Corporation (SCCO) : Free Stock Analysis Report
 
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Vancouver, British Columbia–(Newsfile Corp. – August 31, 2021) – Lara Exploration Ltd. (TSXV: LRA) ("Lara"), is pleased to report that it has signed a Mining Rights Transfer Agreement with BHP World Exploration Inc. Sucursal del Peru ("BHP") to acquire the Kenita property in exchange for a commitment to pay a 1% net smelter returns royalty on any future production. The Kenita property comprises five exploration licenses, totalling 2,200 hectares in area, which are adjacent to and surround Lara's 400 hectare Puituco Project, located in the Huancavelica Department of Central Peru.

Lara previously reported high grade surface chip channel samples from Puituco, including 42.6m averaging 4.65% zinc, 4.86% lead and 37 g/t silver (see Lara news release of June 12, 2018 for details). The vertical orientation of the breccia feeder structures to this mineralization and its relationship with the mapped intrusives, indicate potential for the presence of a buried skarn/porphyry system. With the consolidation of the Kenita property Lara intends to extend its surface mapping and sampling and undertake geophysical surveys (Mag and IP) and define targets for a scout drilling program to test this potential.

The Puituco-Kenita property lies to the north of the Riqueza copper porphyry project, being drilled by Inca Minerals Ltd. Minera IRL Ltd.'s Corihuarmi high sulphidation epithermal gold mine and the Bethania polymetallic mine, being redeveloped by Kuya Silver Corp., also lie on the same trend to the northwest of Puituco-Kenita.

About Lara Exploration

Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA."

Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

-30-

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94881

VANCOUVER, BC / ACCESSWIRE / August 31, 2021 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic" or the "Company") announces that it owns 40% of the outstanding shares of Broden Mining Ltd. ("Broden"), a private company that is working with Ross River Dena Council ("RRDC") to complete the acquisition of a large package of land ("Vangorda Lands") in the Faro mining district, southern Yukon (Figure 1). The Vangorda Lands host several deposits containing zinc, lead, silver and other valuable metals, and there is excellent potential for additional discoveries (see joint news release with the Government of Canada, Ross River Dena Council and private entity Broden Mining dated August 30, 2021).

"Strategic and its partners have been working on this acquisition for several years and we consider it to be one of, if not the most important milestones in the history of the Company," states Doug Eaton, CEO of Strategic. "The deposits on the Vangorda Lands are some of the largest and richest zinc-lead-silver prospects in Canada and they benefit from excellent infrastructure. We anticipate working closely with our partners to bring this important mining district back into production."

There are five known mineral deposits on the Vangorda Lands and adjacent Silver Range Project, plus several less-explored prospects. The largest deposits are Grum, Grizzly and Keg. The known deposits collectively contain more than 5.38 billion pounds of zinc, 3.54 billion pounds of lead, 111 million ounces of silver and 870,000 ounces of gold, in all resource categories (see attached table for details). The reader is cautioned that the resource estimates are historical in nature.

Broden and RRDC have formed Tze Zul Development Corporation as the vehicle to explore the Vangorda Lands and, if warranted, develop the deposits. The parties have an agreement in principal with Canada and Yukon concerning the acquisition of mineral rights within the Vangorda Plateau portion of the Faro Mine reclamation area and claims that are under receivership, to the southeast of the Vangorda Plateau. There is also an agreement with Silver Range Resources Ltd. ("Silver Range") concerning acquisition of a 100% interest in a large claim block that lies north of the Vangorda Lands. Tze Zul will not be acquiring any rights or obligations concerning the remainder of the Faro Mine reclamation area, which covers the former Faro Mine, the old mill complex and the tailings storage facility. Figure 2 shows the location of the various components of the land package, along with the location of former mines and mineral deposits.

Strategic's interest in Broden is increased indirectly by its 18.1% shareholding in Silver Range, which owns 10% of Broden and retains a net smelter return interest in mineral production from its mineral claims in the area (see Silver Range Project on Figure 2).

Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes 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 over $8 million and large shareholdings in a number of active mineral exploration companies including 38.5% of GGL Resources Corp., 33.5% of Rockhaven Resources Ltd., 19.6% of Honey Badger Silver Inc., 19.2% of Precipitate Gold Corp. and 18.1% 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 $21 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.

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.

The Vangorda Lands and adjacent Silver Range Project host five known mineral deposits and several less-explored prospects. A summary of the known deposits is shown in the table below.

All resources and reserves shown in the above table are historical in nature and have not been validated at this time and are considered to have been estimated using industry best practices at the time.

• The Keg Deposit resources are stated in a 2017 NI 43-101 technical report by Silver Range Resources.

• Reserves and resources for the Grizzly, Vangorda, and Grum Deposits can be found in Anvil Range Mining Corporation's 1996 Annual Information Form, which is available on SEDAR.

• Resources for Swim are taken from the CIM Special Volume 37 and predate NI 43-101 reporting.

SOURCE: Strategic Metals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/662105/Strategic-Metals-Announces-Large-Share-Position-in-Broden-Mining

* Andrew Forrest's Wyloo raises bid for Noront

* Wyloo bids C$0.70 a share vs BHP's C$0.55

* BHP to waive standstill clause for Wyloo to conduct due diligence (Adds details from BHP, Noront statements)

Aug 31 (Reuters) – BHP Group said on Tuesday it would consider matching a raised bid by billionaire Andrew Forrest's Wyloo Metals for nickel miner Noront Resources Ltd as the two tussle for the supply of a key battery metal used in electric vehicles (EV).

The statement follows Wyloo indicating it was willing to pay 27% more than what BHP had offered for the Canadian company, proposing that it could keep Noront public or buy out the remaining shares it does not already own.

At stake in the scramble for Noront is the Eagle's Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

Wyloo's proposed sweetened bid of C$0.70 per share, up from C$0.315, compares with an offer of C$0.55 per share from BHP in July.

The Forrest-owned company is Noront's largest shareholder with a stake of around 24%, according to Refinitiv data, and has said it would not support the Anglo-Australian firm's bid.

BHP said in a statement on Tuesday it would "consider its alternatives if a competing offer does materialize, including its right to match any superior proposal."

Noront said it continues to back BHP's offer as Wyloo has yet to make a binding offer.

A bone of contention in Wyloo gaining access to due diligence on Noront has been a standstill clause that BHP said it would waive.

($1 = 1.2606 Canadian dollars) (Reporting by Nikhil Kurian Nainan, additional reporting by Riya Sharma and Savyata Mishra in Bengaluru; Editing by Shounak Dasgupta and Aditya Soni)

Vancouver, British Columbia–(Newsfile Corp. – August 31, 2021) – Full Metal Minerals Ltd. (TSXV: FMM) ("Full Metal" or the "Company") is pleased to provide the following corporate update.

Olivine Mountain

The Company is planning to commence work on its Olivine Mountain property, this will include expanding geochemical sampling and geological mapping to assist future drill hole targeting.

Full Metal has the option to earn a 60% interest in Olivine Mountain, with GSP Resource Corp. ("GSPR") retaining 40% interest. GSPR will be the operator for exploration programs determined by Full Metal.

The Olivine Mountain property is in southern British Columbia, approximately 25 km west of Princeton, BC and about 8 km west of the community of Coalmont. The Property consists of 29 contiguous MTO mineral titles in the Similkameen Mining Division, and covers an area of 3,022 hectares. The Property can be reached via the Coalmont Road from Princeton to Coalmont, followed by the well-maintained Blakeburn forestry service road, for about 16 kilometres to the Property. For more information, see the Company's news release dated April 29, 2021.

Project Search

The Company is actively reviewing high quality early to advanced stage precious metal mineral projects. The Company is reviewing several projects and continues to seek opportunities.

Vendetta Mining Loan

As previously disclosed in the Company's management, discussion and analysis, and new release dated April 29, 2021, the Company previously advanced loans in the aggregate of $182,000 (the "Loan") to Vendetta Mining Corp. ("Vendetta") pursuant to promissory notes entered into on May 10 and May 31, 2019. The Company is pleased to announce that Vendetta has repaid the Loan in full, including the accrued interest.

ON BEHALF OF THE BOARD OF DIRECTORS

"Peter Voulgaris"

Peter Voulgaris
President/CEO and Director

For more information please contact:

Peter Voulgaris
604-484-7855

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-484-7855 Fax: 604-484-7155
Email info@fullmetalminerals.com
www.fullmetalminerals.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.

Cautionary Note Regarding Forward-Looking Statements: This press release includes certain forward-looking statements and forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding, the Olivine Mountain property and the pursuit of precious metal mineral projects and other opportunities are forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include inability to complete work on the Olivine Mountain property and inability to secure precious metal mineral projects and other opportunities. The forward-looking statements in this press release were developed based on the assumptions and expectations of management, including that the Company will be able to complete work on the Olivine Mountain property as anticipated and the Company will be successful in securing precious metal mineral projects and other opportunities as anticipated. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction, including the United States. The securities referenced in this press release 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, or for the account or benefit of, a "U.S. person," as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration requirements is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95106

Tuesday, August 31, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Adobe Inc. (ADBE), Thermo Fisher Scientific Inc. (TMO), and BHP Group (BHP). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Shares of Adobe have modestly outperformed the Zacks Software industry in the year to date period (+33.1% vs. +32.5%) as the company continues to benefit from strong demand for its cloud products. The company’s Creative Cloud, Document Cloud and Adobe Experience Cloud products have been supporting its top-line growth.

Rising subscription revenues and solid momentum across the mobile apps remain major positives. Growth in emerging markets, robust online video creation demand, strong Acrobat adoption and improving average revenue per user remain tailwinds. Lower end-market demand and high acquisition expenses remain major overhangs though.

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

Thermo Fisher shares have gained +20.8% over the last six months against the Zacks Medical Instruments industry’s gain of +10.1%. The Zacks analyst believes that it has been expanding its inorganic growth profile on the back of several takeovers.

The company witnessed strong end market growth in the second quarter on the back of robust fundamentals in the life sciences, strong economic activity globally and strong pandemic response. Its second-quarter 2021 COVID-19 response revenues, however, declined to $1.9 billion from the prior quarter’s $2.9 billion. Foreign currency fluctuations and competitive landscape are other major threats to the company.

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

Shares of BHP Group have lost -13.2% in the past three months against the Zacks Mining – Miscellaneous industry’s loss of -9.9%, however, BHP Group’s fiscal 2021 revenues and underlying attributable profit improved year over year.

The Zacks analyst believes that strong cash generation, investment in growth projects and higher operational efficacy, as well as solid long-term outlook for metal prices bode well for BHP Group. Exit of petroleum business, investment in growth projects and decision to unify its dual-listed structure will aid growth as well. The spread of the Delta variant is likely to play a spoil sport for the company. Higher input costs and the recent drop in iron ore prices also remain concerns.

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

Other noteworthy reports we are featuring today include Philip Morris International Inc. (PM), Atlassian Corporation Plc (TEAM) and Chubb Limited (CB).

Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report
 
Philip Morris International Inc. (PM) : Free Stock Analysis Report
 
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Zacks Investment Research

The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But if you buy shares in a really great company, you can more than double your money. To wit, the IGO Limited (ASX:IGO) share price has flown 141% in the last three years. Most would be happy with that. Also pleasing for shareholders was the 21% gain in the last three months.

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

See our latest analysis for IGO

To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace…' One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

IGO became profitable within the last three years. Given the importance of this milestone, it's not overly surprising that the share price has increased strongly.

The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).

We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. Dive deeper into the earnings by checking this interactive graph of IGO's earnings, revenue and cash flow.

What about the Total Shareholder Return (TSR)?

We'd be remiss not to mention the difference between IGO's total shareholder return (TSR) and its share price return. Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. IGO's TSR of 159% for the 3 years exceeded its share price return, because it has paid dividends.

A Different Perspective

We're pleased to report that IGO shareholders have received a total shareholder return of 124% over one year. Since the one-year TSR is better than the five-year TSR (the latter coming in at 20% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 4 warning signs with IGO , and understanding them should be part of your investment process.

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).

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

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, Aug. 31, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. ("Noront" or the "Company") (TSXV: NOT) acknowledges receipt on August 30, 2021 of a non-binding letter from Wyloo Metals ("Wyloo"). The letter describes Wyloo's interest in potentially acquiring all of the common shares of Noront that Wyloo does not currently own, subject to a number of conditions, including due diligence, and negotiating and executing a definitive arrangement agreement.

Responding to the Wyloo Proposal

Noront is party to a July 27, 2021 support agreement with BHP Western Mining Resources International Pty Ltd ("BHP") and its parent, BHP Lonsdale Investments Pty Ltd (the "Support Agreement"), under which Noront agreed to support an offer by BHP to acquire all of the outstanding common shares of Noront that BHP does not already own (the "BHP Offer"). As is customary, the Support Agreement defines the circumstances in which Noront is permitted to engage with, and provide confidential information to, another party that makes a proposal to acquire the common shares of Noront.

At this point, Wyloo's publicly-announced interest in Noront is not an offer, rather it is a non-binding proposal to the Noront Board of Directors that is conditional on completion of due diligence by Wyloo and negotiation and execution of a definitive arrangement agreement. Wyloo has not entered into any binding agreement with Noront in respect of a proposed transaction, nor has it made a formal offer to the Company’s shareholders, and there can be no assurance that a transaction will crystalize from the Wyloo proposal.

Pursuant to the Support Agreement, Noront is permitted to engage with, and provide confidential information to, Wyloo only if Wyloo executes a confidentiality agreement with Noront on terms no less favourable to Noront than the terms contained in Noront's confidentiality agreement with BHP. As previously noted, prior to entering into the Support Agreement Wyloo was given the same opportunity to conduct due diligence but refused to sign a standard confidentiality agreement, typical for transactions of this nature. The confidentiality agreement was consistent with the agreement executed by BHP.

BHP has agreed to waive the requirement under the Support Agreement that a confidentiality agreement with Wyloo include a standstill so that the Company can provide confidential information to Wyloo on a no-standstill basis. Noront appreciates BHP agreeing to waive its strict contractual rights in the interests of the shareholders of Noront.

Noront CEO, Alan Coutts, commented: "With BHP's consent, Noront intends to provide Wyloo with a confidentiality agreement in the same form as Noront's confidentiality agreement with BHP, but without the customary standstill provision. This will allow Wyloo to complete the due diligence that Wyloo claims is required, and to decide whether or not to make a binding offer to acquire the common shares of Noront that Wyloo does not already own."

Noront reminds shareholders that Wyloo has never made a binding offer to acquire the common shares of Noront, and that no such offer may ever be made by Wyloo. The only binding offer available to shareholders is BHP's offer of C$0.55 cash per Noront share, which the Board of Directors of Noront continues to support.

Board Recommendation

The Board of Directors of Noront affirms its support of the BHP Offer and continues to recommend shareholders accept the BHP Offer. The Board of Directors of Noront, acting on the recommendation of the Special Committee, and after evaluating the BHP Offer in consultation with Noront’s legal and financial advisors, has determined that the BHP Offer is fair, from a financial point of view, to Noront shareholders and in the best interests of Noront and its shareholders.

Minimum Tender Condition

Wyloo’s support of the transaction is not required in order for the BHP Offer to be successful. The minimum tender condition for the BHP Offer is that more than 50% of the shares not owned by BHP be tendered to the BHP Offer, and this condition can be satisfied regardless of whether Wyloo tenders its Noront shares. Shareholders wishing to receive the C$0.55 per Noront share in cash offered by BHP can and should tender to the BHP Offer.

About Noront Resources

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

Contact Information

Forward Looking Statements

Certain statements contained in this news release contain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding: the Wyloo proposal; the BHP Offer; and the intentions of Wyloo to make a binding offer to acquire Noront (if at all).

Although Noront believes that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of the Special Committee of Noront as of the date hereof. Noront cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of Noront, BHP, BHP Lonsdale Investments Pty Ltd or Wyloo, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by Noront will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Noront or its future results and performance.

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

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

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

• Rogue Stone's ramp-up continued sales into the spring season

• In Q4-2021, from February-April, Rogue Stone sold 5,398 tons realizing $80/ton with COGS of $48/ton

• Rogue recorded $204,149 in Adjusted EBITDA in FY-2021, for the ramp-up months since Commercial Production

• Launched Operations at Shadow Lake, close to the other two operations, sales expected in September

TORONTO, ON / ACCESSWIRE / August 31, 2021 / Rogue Resources Inc. (TSXV:RRS) ("Rogue" or the "Company") is pleased to announce continued progress at Rogue Stone with 5,398 tons¹ sold in Q4-2021, from February through April with an average realized price per ton of $80 and Cost of Goods Sold ("COGS") of $48/ton.

The Company has filed its YE-2021 financials for the year ended April 30, 2021 (available on Rogue's website or through the SEDAR filing system). Since reaching Commercial Production in September 2020, the Company has recorded $204,149 of Adjusted EBITDA.

Rogue Stone has also secured operating rights on the Batty Pit (north of Coboconk, Ontario), which the Company will refer to as the "Shadow Lake Quarry". This represents Rogue's third operating quarry in its limestone business, referred to as "Rogue Stone." Rogue Stone will pay a set royalty to access the material. The Shadow Lake Quarry consists of privately owned parcels and currently has a Class B Aggregate License to extract up to 20,000 tonnes of Natural Stone per year and produces Armour Stone, Steps and Flagstone. The quarry permit covers an area of approximately 16.12 hectares allowing for extraction of natural stone to the ground water table that is estimated to range from 6 to 8 m from the current quarry floor. Rogue Stone intends to have sales from the Shadow Lake Quarry in September.

"Rogue Stone continues to ramp-up safely and the positive Adjusted EBITDA is a nice indication of the profitable business we are building," said Sean Samson, President and CEO of Rogue. "Securing access to the third producing quarry is another big step for Rogue Stone and I look forward to seeing what our team can deliver as we continue building a predictable and profitable business supplying dimensional limestone into the landscape industry."

About Rogue Resources Inc.

Rogue is a mining company focused on generating positive cash flow. Not tied to any commodity, it looks at rock value and quality deposits that can withstand all stages of the commodity price cycle. The Company includes Rogue Stone selling quarried limestone for landscape applications from two operating quarries in Ontario; Rogue Quartz focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec; Rogue Timmins with the gold potential at Radio Hill and an ownership position in the private company EV Nickel, exploring in the Shaw Dome.

Qualified Person

The Company's Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

For more information visit www.rogueresources.ca or contact :
+1-647-243-6581
info@rogueresources.ca

Cautionary Note Regarding Forward-Looking Statements:

This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "believes," "anticipates," "expects," "plans," "intends," "target," "estimates," "projects," "continue," "potential" and similar expressions, or are events or conditions that "will," "would," "may," "could" or "should" occur or be achieved. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: closing of future tranches of the Private Placement.

The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations, drilling plans and access to available goods and services and development parameters; regulatory restrictions; the ability of the Company to obtain applicable permits; the ability of the Company to service its debt obligations; the Company's ability to qualify for government funded support programs; the Company's ability to raise capital on terms acceptable to it or at all; activities of governmental authorities (including changes in taxation and regulation); currency fluctuations; the unpredictable economic impact of the COVID-19 pandemic, including the acquisition of equipment and recruitment of human resources required for the sales expansion; the global economic climate; and competition.

The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements contained in this news release are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, those risks identified in the Company's most recent annual and interim management's discussion and analysis, copies of which are available on the Company's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (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 (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

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

[1] The landscape stone trade is transacted using imperial "tons" in contrast to both base metals and industrial minerals (including nickel and quartz, as also covered in this press release), which use metric "tonnes."

SOURCE: Rogue Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/662127/Rogue-Update-Q4-Results-Positive-Adjusted-EBITDA-Based-on-Stone-Sales-Plus-Launching-Operations-at-3rd-Quarry

(Bloomberg) — Andrew Forrest, the billionaire founder of iron ore giant Fortescue Metals Group Ltd., upped his bid to acquire a nickel miner active in Canada’s highly-prospective Ring of Fire region to trump an offer from BHP Group.

Forrest’s Wyloo Metals Pty Ltd. offered to buy Noront Resources Ltd. for C$0.70 per share in cash, beating the C$0.55 per share offer made by BHP in July that Noront’s board agreed to support. Wyloo’s proposal had a higher certainty of success because it already owns about 37.5% of Noront’s shares and does not intend to support BHP’s offer, Wyloo said in a statement.

Global miners are keen to boost their exposure to nickel — a key ingredient in the lithium-ion batteries used in electric vehicles and to store renewable power — and the Ring of Fire region in northern Ontario is seen among Canada’s largest untapped reserves of the metal.

“If shareholders share my view, that it’s impossible to place a value today on a new mining district with the immense potential of these assets, I invite them to hold on to their shares and come along for the ride,” Forrest said in the statement. Under Wyloo’s proposal, Forrest would become chairman of Noront.

BHP said it would wait for a response from the Noront board before determining its next steps.

“It’s important to note that Wyloo has only made a proposal, which is subject to conditions, and has not entered into any binding agreement with Noront in respect of a transaction or a formal offer,” a spokesman for BHP said by email. “The BHP offer is the only offer that has been made to shareholders.”

‘Not an Offer’

Noront continues to support BHP’s offer and called Wyloo’s approach “a non-binding proposal” that is “not an offer,” according to a Tuesday statement by the company.

“Wyloo has not entered into any binding agreement with Noront in respect of a proposed transaction, nor has it made a formal offer to the company’s shareholders,” Noront said in the statement. “There can be no assurance that a transaction will crystallize from the Wyloo proposal.”

Noront’s shares jumped 25% on Monday following news of Wyloo’s offer to end at C$0.76, a premium to Wyloo’s offer which suggests the market sees potential for the bidding war to escalate further.

(Adds Noront comment in seventh, eighth paragraphs.)

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VANCOUVER, BC, Aug. 30, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) (the "Company") announces that, pursuant to the Company's 10% Rolling Stock Option Plan (the "Plan"), as most recently re-approved by its shareholders on June 25, 2021 and submitted for approval to the TSX Venture Exchange on July 20, 2021, the Company has granted stock options exercisable for the issuance of up to 4,850,000 common shares of the Company (the "Stock Options") on August 30, 2021. The Stock Options are exercisable at a price of $0.14 per share for a period of five years, expiring on August 30, 2026. The Stock Options are subject to the terms of the Plan.

The Stock Options were granted to the seven directors of the Company, as elected at the Company's Annual General Meeting on June 25, 2021, and one officer. The Company does not compensate directors other than by incentive stock options.

The above-noted stock option grant brings the total number of the Company's issued and outstanding stock options to 6,400,000.

The Stock Options vest as of the date of the grant. The Stock Options and any common shares of the Company issued upon exercise of the Stock Options will be subject to a four-month resale restriction from the date of grant of the Stock Options.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. Finlay recently completed a financing of $1 million flow-through, and $1.64 million in non-flow-through funds.

Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details please visit the Company's website at: www.finlayminerals.com.

On behalf of the Board of Directors,

Robert F. Brown, P. Eng.,
President & CEO

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.

SOURCE Finlay Minerals Ltd.

View original content: http://www.newswire.ca/en/releases/archive/August2021/30/c2336.html