Vancouver, British Columbia–(Newsfile Corp. – August 31, 2021) – InZinc Mining Ltd. (TSXV: IZN) (the "Company") is very pleased to announce initial results from Phase 1 exploration activities at the Indy Sedex project in central British Columbia where high-grade Sedex-type zinc mineralization was discovered by geochemical (soil) prospecting and follow-up drilling in 2018.

New, Large Zinc Target Emerging

Initial results, from 817 (58%) of the 1419 soils collected in Phase 1 program, are returning strong soil responses in the area located between Anomaly C and the Delta Horizon target. To date, results show strong, coincident, multi-element (Zn, Pb, Ba), multi-station soil responses over 1.1 km of the 7 km Main Trend at Indy. Results are pending to the north of the new target area – which remains open for expansion.

Figure 1

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Numerous samples have returned 800 to 1000 ppm zinc with highs up to 3700 ppm (0.37%). Barium in soil, coincident with zinc responses, is very strong relative to other targets (ranging from 2000 ppm to exceeding detection limits of analysis at 10,000 ppm or 1.0%). This continuous and linear trend of multi-element soil response is consistent with stratigraphic or contact related mineralization, possibly associated with a distal Sedex environment.

"We are very pleased with these strong results which are emerging in a new area situated between Delta Horizon and Anomaly C – two of the other large untested targets already developed at Indy. With this expansion of drill target locations, improvements to road access and extension of permits, InZinc is in a good position to possibly extend exploration activities throughout the fall or winter as we await the funds from the American West IPO," commented Wayne Hubert, CEO of InZinc. "Indy is developing into a very prospective project with numerous, extensive Sedex-type zinc targets and the potential for significant regional-scale discoveries."

Anomaly B – Road Access Completed

The Company has completed, in conjunction with third parties, road access to Anomaly B. The program included a bridge and three stream crossings and significant upgrades to existing roads to allow industrial scale traffic. A 50-person camp facility is located 15km by road from Anomaly B. The operator of the camp facility is planning expansion and preparation for winter operations.

Figure 2

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Indy Exploration Permits Extended

InZinc is also pleased to announce the multi-year exploration permit (MYAB) for drilling has been extended by the BC Ministry of Mines, Energy and Low Carbon Innovation, for a further two years, now expiring in December 2023.

The Company is preparing the Indy Sedex project for a drill program to commence between the fall and early spring, contingent on funds received from the recent option agreement on the West Desert project in Utah.

About InZinc

InZinc is focused on growth through exploration and advancement of its interest in multiple North American base metals projects. The road accessible Indy project (100% earn-in), located in central British Columbia, comprises discoveries of near surface mineralization and large untested exploration targets along a 25km long trend with potential for the discovery of a new regional scale zinc belt. The West Desert option (100% option to American West Metals) provides significant cash payments and continuing leverage through ownership in American West Metals as it funds the advancement of the West Desert project to prefeasibility (planned in Q3 2023) and the Storm Copper and Copper Warrior projects in North America. In addition, upon exercise of the West Desert option, InZinc will receive 50% of the revenue from the sale of indium mined from West Desert.

InZinc Mining Ltd.

Wayne Hubert

____________

Chief Executive Officer
Phone: 604.687.7211
Website: www.inzincmining.com

For further information contact:
Joyce Musial
Vice President, Corporate Affairs
Phone: 604.317.2728
Email: joyce@inzincmining.com

Qualified Person

Brian McGrath, B.Sc., P.Geo. a Qualified Person as defined in NI43-101, has approved the technical content of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "plan", "design", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results, performance, or actions and that actual results and actions may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company's Management Discussion and Analysis for the year ended December 31, 2020 and for the three months ended March 31, 2021 filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94988

There's no doubt that money can be made by owning shares of unprofitable businesses. By way of example, Ironbark Zinc (ASX:IBG) has seen its share price rise 130% over the last year, delighting many shareholders. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

In light of its strong share price run, we think now is a good time to investigate how risky Ironbark Zinc's cash burn is. 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. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

View our latest analysis for Ironbark Zinc

How Long Is Ironbark Zinc's Cash Runway?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In December 2020, Ironbark Zinc had AU$1.4m in cash, and was debt-free. In the last year, its cash burn was AU$1.3m. Therefore, from December 2020 it had roughly 13 months of cash runway. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. The image below shows how its cash balance has been changing over the last few years.

How Is Ironbark Zinc's Cash Burn Changing Over Time?

Because Ironbark Zinc isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Even though it doesn't get us excited, the 41% reduction in cash burn year on year does suggest the company can continue operating for quite some time. Admittedly, we're a bit cautious of Ironbark Zinc due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Hard Would It Be For Ironbark Zinc To Raise More Cash For Growth?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Ironbark Zinc to raise more cash in the future. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$28m, Ironbark Zinc's AU$1.3m in cash burn equates to about 4.9% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

So, Should We Worry About Ironbark Zinc's Cash Burn?

Ironbark Zinc appears to be in pretty good health when it comes to its cash burn situation. One the one hand we have its solid cash burn reduction, while on the other it can also boast very strong cash burn relative to its market cap. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about Ironbark Zinc's situation. Separately, we looked at different risks affecting the company and spotted 4 warning signs for Ironbark Zinc (of which 2 are significant!) you should know about.

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

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

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

TORONTO, CANADA – August 31, 2021 – Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) (“Vox” or the “Company”), a high growth precious metals focused royalty company, is pleased to provide recent development and exploration updates from royalty operating partners Norton Gold Fields Pty Ltd. (ASX: NGF) (“Norton Gold”), Zijin Mining Group Co., Ltd. (HKSE: 2899) (“Zijin Mining”), Silver Mines Limited (ASX: SVL) (“Silver Mines”), Jangada Mines plc (LON: JAN) (“Jangada”), Venturex Resources Limited (ASX: VXR) (“Venturex”) and Alamos Gold Inc. (TSX: AGI) (“Alamos”).

Riaan Esterhuizen, Executive Vice President – Australia stated, “The last month has delivered a significant number of value enhancing organic developments for our royalty properties, most notably the commencement of construction at the A$462M Binduli heap leach expansion project by Norton Gold. This Binduli expansion was the key near-term catalyst that Vox management anticipated when we acquired the Janet Ivy royalty in March 2021. Additional engineering study progress at Bowdens and Pitombeiras, combined with drilling success across numerous properties capped off a very exciting month for our royalty projects.”

Summary of Development and Exploration Updates

• Construction commenced at Janet Ivy expansion project Binduli North by Zijin Mining subsidiary Norton Gold;

• Scoping study begins on underground mining scenarios at Bowdens silver project by Silver Mines;

• 45% increase in total mineral resource estimates at Pitombeiras by Jangada;

• A$10M drill program underway and final project approvals targeted in 2022 for the Sulphur Springs project by Venturex; and

• Continued drilling and permitting update at Lynn Lake (MacLellan) by Alamos.

Janet Ivy (Producing) – Binduli North Expansion Construction Commencement

• • Vox holds a A$0.50/tonne production gold royalty over the Janet Ivy project, acquired in March 2021;

  • Upon full commercial production Binduli will be the largest heap leach project in Australia, according to Norton Gold detailed design engineering partner CPC Engineering’s announcement on February 3, 2021;

  • On August 1, 2021, Zijin Mining announced that:

    • The project design, application for permits and licenses and other preparatory work of the Binduli North heap leaching project (royalty-linked) have been completed and the construction has commenced in June 2021;

    • Application for permits and licenses for Binduli South heap leaching project (non-royalty linked) is being studied and taking place;

    • After completion of all the Binduli construction work and upon reaching designated production capacity, approximately 7 tonnes of gold (approximately 225,000 ounces) can be produced in peak years;

    • Total capital cost of the combined Binduli expansion is A$462 million, with investment in the project during the first half of 2021 of RMB 0.43B (A$90 million);

  • Zijin Mining previously announced on April 28, 2020 that the “first phase of the Binduli North heap leach project is expected to complete construction and commence production in March 2022”; and

  • Vox management has commissioned the preparation of an independent NI43-101 compliant Technical Report on Janet Ivy as a result of this material development at the Binduli North heap leach project. This Technical Report is expected to be released in September 2021.

Vox Management Summary: The Binduli North heap leach expansion is expected to re-rate Janet Ivy royalty revenues from 2022 onwards. This royalty has the potential to generate A$1.5M – A$2.5M of annual revenues from Binduli North production on average across the life of mine and assuming a target production rate from Norton Gold of 5Mtpa from Binduli North. Based on ongoing labour shortages in Western Australia, Vox management expects first production from Binduli North in late 2022.

Bowdens (Feasibility) – Underground Scoping Study and Q2 2021 Drilling Update

• • Vox holds a 0.85% gross revenue royalty on the Bowdens silver-lead-zinc project and a 1% gross revenue royalty over surrounding regional exploration tenure;

  • On August 5, 2021, Silver Mines announced the following underground scoping study:

    • With ongoing outstanding drilling success, a Scoping Study for potential underground mining scenarios at Bowdens Silver has commenced;

    • The Scoping Study is separate to and does not affect the current late-stage approval process for Bowden’s Silver open-pit development;

    • An underground Mineral Resource preliminary assessment has also commenced and will operate concurrently with the 30,000m diamond drilling program;

    • Recent drilling at the Northwest High-Grade Zone, the Aegean Zone and the Bundara Zone has demonstrated considerable high-grade potential immediately beneath the current Ore Reserve for the proposed open-pit mine development;

    • The reporting of drilling results will continue until at least the end of the 2021 calendar year;

    • The Mineral Resource assessment and Scoping Study will be complete post the drilling phase, likely in the March quarter 2022; and

    • Drilling continues with four rigs operational on site.

  • On July 27, 2021, Silver Mines announced the following drilling update:

    • Initial results from the 30,000m drill program at Bowdens continues to define potential resources for underground mining scenarios, with a focus on the Northwest high-grade and Aegean zones;

    • BD21006 results drilled east of the Northwest high-grade zone include:

      • 2.0 metres @ 443 g/t silver equivalent (146 g/t silver, 3.80% lead, 3.43% zinc and 0.25 g/t gold) from 212 metres; and

      • 8.3 metres @ 354 g/t silver equivalent (276 g/t silver, 2.15% lead, 0.10% zinc and 0.31 g/t gold) from 263 metres;

    • BD21011 results returned from the Northwest high-grade zone include 13.0 metres @ 264 g/t silver equivalent (188 g/t silver, 1.66% lead, 0.40% zinc) from 207 metres;

    • Results from BD21007, show potentially significant 200 metres of extension to the southeast of the Bundarra zone include 6.0 metres @ 311 g/t silver equivalent (35 g/t silver, 3.60% zinc, 2.87% lead and 0.60 g/t gold) from 267 metres; and

    • Drilling continues with the 30,000m program with four rigs operational on site and which is expected to continue until at least the end of 2021.

Vox Management Summary: This underground scoping study presents volume and royalty revenue upside to the June 2018 feasibility study results, which imply, based on management assumptions, a 16 year mine life generating annual open pit royalty revenues of A$1M – A$1.5M on average during the life of mine. We look forward to additional updates from Silver Mines regarding final open pit permitting over the coming year.

Pitombeiras (PEA Stage) – PEA Update and Drilling update(1)

Vox holds a 1% net smelter royalty over the Pitombeiras vanadium-iron ore project;

• On July 29, 2021, Jangada announced that:

  • It has completed a consolidated updated National Instrument 43-101 compliant resource estimate, comprising the results obtained to date from the Pitombeiras North and South and Goela targets;

  • Total Mineral Resource Estimate (“MRE”) of 8.26Mt, representing an increase of 45%, with 62% now classified as Measured and Indicated;

  • The Mineral Resource classification resulted in Measured & Indicated Resources of 5.10Mt at 0.46% V2O5, 9.04 % TiO2 and 46.06% of Fe2O3, and Inferred resource of 3.16Mt at 0.44% V2O5, 9.00% TiO2 and 45.86% of Fe2O3;

  • Vanadiferous Titanomagnetite mineralisation continues to be open and drilling to date been conducted on only 3 of 8 known targets;

  • Due to the significantly larger MRE with higher category confidence levels from that previously reported and extensive other work undertaken, Jangada will now be issuing a Definitive Feasibility Study in Q3 2021, rather than an upgraded economic study; and

  • Jangada is fully funded for its existing work programme and intends to proceed to mine development, with first production as early as the first half of 2022.

Vox Management Summary: The fast-tracking of the Pitombeiras project to definitive feasibility study in Q3 2021 and initial production in H1 2022 continues to exceed Vox management expectations. The 45% increase in the resource estimate and improved resource category confidence levels increases Vox’s confidence in Jangada management’s ability to bring this project into production in 2022.

Sulphur Springs (Pre-Construction) – A$10M drill program, Resource Update & Final Project Approvals 

• • Vox holds a A$2/tonne production copper-zinc royalty (A$3.7M royalty cap) on the Sulphur Springs project and an effective A$0.80/tonne production royalty on the Kangaroo Caves deposit, which is part of the combined Sulphur Springs project; 

  • On July 29, 2021, Venturex announced that:

    • It has commenced a A$10M drilling program to de-risk and grow the Sulphur Springs copper-zinc project;

    • Infill drilling is underway with the aim of upgrading the majority of Inferred Resources to the Indicated category;

    • It will undertake a significant drill program to test for extensions to the known resource and mineralisation boundaries;

    • A resource update is targeted to be completed by the end of June 2022; and

    • In parallel with the drilling, Venturex will continue to complete the remaining project approvals, which are also expected by the second half of 2022.

Vox Management Summary: The new management team at Venturex, led by Northern Star Resources co-founder Bill Beament, is actively progressing the Sulphur Springs project, which Vox expects will lead to a final investment decision in the second half of 2022. The A$10M drilling program offers further upside to the current mineral resource.

Lynn Lake (MacLellan, Feasibility) – Q2 2021 Drilling and Permitting Update

• • Vox holds a 2% gross revenue royalty (post initial capital recovery) on part of the MacLellan deposit at the Lynn Lake gold project;

  • On July 28, 2021, Alamos announced that it continues to advance permitting at the Lynn Lake project, with approval of its Environmental Impact Statement expected mid-2022 and during the second quarter of 2021, 9,396m of drilling was completed in 44 holes at MacLellan and surrounding non-royalty linked targets. 

Vox Management Summary: Alamos has again reiterated a construction decision deadline for Lynn Lake of mid-2022. Alamos is guiding its investors to first production from Lynn Lake in 2024, based on its latest July 2021 corporate presentation.

Qualified Person

Timothy J. Strong, MIMMM, of Kangari Consulting Limited and a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

About Vox 

Vox is a high growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.

Further information on Vox can be found at www.voxroyalty.com.   

For further information contact:

 

Cautionary Note Regarding Forward Looking Information

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. 

The forward-looking statements and information in this press release include, but are not limited to, summaries of operator updates provided by management and the potential impact on the Company of such operator updates, statements regarding expectations for the timing of commencement of resource production from various mining projects, expectations regarding the size, quality and exploitability of the resources at various mining projects, future operations and work programs of Vox’s mining operator partners, the receipt of future royalty payments derived from various royalty assets of Vox, anticipated future cash flows and future financial reporting by Vox and requirements for regulatory approvals. 

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Vox to control or predict, that may cause Vox’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Vox will receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Vox’s expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. 

Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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

Technical and Third-Party Information

Except where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox’s royalty interests. Vox’s royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

References & Notes:

1. The 20 July 2021 updated Mineral Resource Estimate of the Pitombeiras Project is the responsibility of Mr. Mauricio Prado. MSc. Geo. MAIG, Qualified Person as defined by NI 43-101 guidelines, independent geological consultant contracted by Jangada Mines Plc. Mr. Prado is partner and principal consultant with BS Geo e Min Ltda., a Brazilian geology consulting company based on Goiânia, Brazil.

2. The anticipated revenue information presented in this press release is preliminary, based on management estimates, and may change materially.

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TORONTO, August 31, 2021–(BUSINESS WIRE)–Nickel 28 Capital Corp. ("Nickel 28" or the "Company") (TSXV: NKL) (FSE: 3JC) has released its results for the three-month period ended June 30, 2021.

"In addition to another exceptionally strong quarterly performance from Ramu, the Company believes it has reached a significant milestone and repaid its operating debt based on Ramu Mine’s continued exceptionally strong results," stated Anthony Milewski, chairman of the board. He continued, "we would like to thank our partners at Ramu, MCC, for their continued outstanding financial and production results from Ramu."

Q2 2021 Highlights

The Company’s principal asset, an 8.56% joint-venture interest in the Ramu Nickel-Cobalt ("Ramu") integrated operation in Papua New Guinea, continued to have another strong quarter in terms of sales and cash flow. Highlights from Ramu during the quarter include:

– Expected repayment of the Company’s operating debt from Ramu’s quarterly results, the first of two debt tranches from Ramu, which triggers cash-flow to the Company.

– Nickel 28’s cash generation from Ramu in Q2 2021 of US$7.7 million.

– Project revenue in Q2 2021 of over US$218 million, as a result of strong nickel/cobalt commodity prices and improved payability for mixed hydroxide (MHP).

– Quarterly sales of 10,975 tonnes of contained nickel and 1,004 tonnes of contained cobalt in MHP.

– Quarterly production of 7,773 tonnes of contained nickel and 718 tonnes of contained cobalt in MHP placing Ramu as the number one producer of MHP globally.

– Average cash costs for the quarter, net of by-product credits, of US$2.83/lb. of contained nickel.

Nickel 28 Highlights:

– Strong quarter end cash balance of US$4.6 million, providing ample liquidity for the Company.

– Non-recourse joint-venture debt, as of June 30, 2021, of US$94.0 million, consisting of US$10.2 million of operating debt and US$83.8 million of construction debt. The Company’s semi-annual repayment of joint-venture debt from Ramu’s H1 2021’s cash flow generation is expected to be finalized in the next 6 weeks and the Company believes this cash flow will be in excess of the remaining operating debt of US$10.2 million.

About Nickel 28

Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life and world-class Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 13 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain information which constitutes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements and figures with respect to the operational and financial results; statements with respect to the prospects of nickel and cobalt in the global electrification of vehicles; statements related to the repayment of the Company’s Ramu operating debt; statements related to the production impacts of the Covid-19 pandemic; and statements with respect to the business and assets of the Company and its strategy going forward. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company’s control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements.

The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.

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. No securities regulatory authority has either approved or disapproved of the contents of this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210831005340/en/

Contacts

Investors:

Nickel 28 Investor Relations
Tel: 647.846.7765
Email: info@nickel28.com

MELBOURNE (Reuters) – Global miner BHP Group is mulling whether to make vaccinations for COVID-19 mandatory at its workplaces in Australia as the country's east battles ballooning virus cases.

The world's biggest miner on Monday set out measures it was taking to support vaccination in communities where it operates including on-site jabs at its Mt Arthur Coal Mine in New South Wales state that are to begin this week.

The state has become the epicentre of Australia's current coronavirus outbreak, having declared a record 1,290 new cases on Monday as the nation struggles to contain the highly contagious Delta variant.

Although Australia has used a system of strict lockdowns and quarantine to keep coronavirus infection and death rates lower than in most comparable nations, the Delta variant is now pressuring health services. Residents of its two biggest cities have been on strict lockdown for more than a month.

BHP said in a statement that it was actively assessing vaccination as a condition of entry to its workplaces.

"As vaccinations become more accessible to all Australians, we have been encouraging our people to better protect themselves and their families and communities, and we will look for further opportunities to increase access and uptake of vaccinations," Edgar Basto, who runs BHP's Minerals Australia business, said.

BHP expects to complete its assessment in September, with a policy likely to come into effect in early 2022, once people have had a reasonable opportunity to be fully vaccinated.

The miner is funding a new vaccine hub in central Queensland near its coal joint venture with Mitsubishi Corp, and is working with South Australian health authorities to establish a mobile clinic near its Olympic Dam copper mine.

It is also working with health officials in Western Australia to support vaccine rollouts in the Pilbara region, the heart of its iron ore operations, it said.

(Reporting by Melanie Burton in Melbourne; Editing by Matthew Lewis)

(Bloomberg) — Fortescue Metals Group Ltd. is planning to unveil targets for reducing the carbon footprint of its biggest customers, marking a shift in approach for the world’s no. 4 exporter of iron ore.

The firm will follow rivals including Rio Tinto Group and BHP Group in setting specific goals to cut so-called scope 3 emissions, which in Fortescue’s case are generated by steel-makers using the company’s iron ore. Founder and chairman Andrew Forrest was previously not in favor of setting such benchmarks.

“Fortescue resisted setting Scope 3 targets until it had a concrete plan that could really help its customers decarbonize,” Forrest said on the media call following the company’s annual results. More details, including the targets, will be unveiled by September 30.

Global resources companies are under increasing pressure to be more accountable for emissions beyond their own operations, with powerful investors including Norway’s $1.3 trillion sovereign wealth fund threatening to drop firms that don’t meet their environmental standards.

Efforts to reduce scope 3 emissions should focus on developing technology to make climate-friendly steel cheaper, Forrest said. He has previously predicted that the coal-fired blast furnace still dominating the steel industry will be obsolete by 2050, and is investing in projects to supply hydrogen that could help to decarbonize the sector.

Gas Powered

The company will set aside 10% of annual profit to invest in hydrogen, ammonia and other green industrial projects backed by renewable power, marshaled by its Fortescue Future Industries division. Forrest’s plan is to supply over 15 million tons of hydrogen, produced from renewable power, by 2030.

Rio Tinto said in February it would collaborate with customers to reduce the carbon intensity of steel-making by at least 30% by 2030, and aim for carbon-neutral steel-making by 2050. BHP Group also has targets for reducing scope 3 emissions.

Fortescue has been working with buyers “for some time” on reducing their emissions, Chief Executive Officer Elizabeth Gaines said on the same call. The Perth-based company is targeting net-zero greenhouse gases from its own operations by 2030, well ahead of a 2050 goal set by Rio and BHP.

Fortescue’s scope 3 emissions — the bulk of which come from the steel manufacturing process — were 252 million tons of CO2-equivalent in its 2021 fiscal year, according to its latest climate change report. That compares to gross operational emissions — scopes 1 and 2 — of 2.2 million tons.

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Vancouver, British Columbia–(Newsfile Corp. – August 30, 2021) – Thesis Gold Inc. (TSXV: TAU) ("Thesis" or the "Company") provides an update on its ongoing 2021 exploration program at its Ranch gold property in Northern British Columbia. The initial drilling which began in early August has proven successful by confirming consistency with historical high-grade drill intercepts and is exhibiting sulphide and visible gold. Also, the exploration program has added an additional diamond drill rig at the Ranch Gold-Copper Project (the "Property"), bringing the number of drill rigs on site to two. Soil sampling and rock prospecting campaigns are nearing completion, geophysical surveys are progressing, and sample shipments are ongoing with early drill results expected in the coming weeks.

To date, drilling has focused on confirmation and infill holes at the high-grade Bonanza zone and will progress to high-priority exploration targets in the near-term with the addition of a second drill rig.

Exploration Program Update

• Drilling

  • Initial drilling at Bonanza has intersected broad zones of vuggy silica and intense quartz-alunite alteration with coincident abundant sulphides consistent with historical high-grade intercepts.

    • Hole 21BNZDD001 encountered vuggy silica, barite, sulphides and visible gold between 26.00 and 29.00 metres (hole depth), within a broader, approximately 60 metre interval of vuggy silica to quartz-alunite alteration with up to 20% sulphide content locally (Figure 1). Sample assay results are anticipated to be received in the coming weeks.

• Geophysics

  • Ground-based induced polarization (IP) geophysics has been initiated at the Albert's Hump area.

    • Albert's Hump features a large silica cap exposure consistent with a high-level epithermal or porphyry target, and IP will be instrumental in delineating zones of potential mineralization at depth.

    • In addition, the IP will be conducted over the Patti, Steve's and Bloss zones. These zones share the same characteristics as Albert's Hump.

  • Ground magnetics is nearing completion.

    • The initial program of 160 line-kilometres of ground magnetics has been completed. Thesis is expanding this program with an additional ~260 line-km to resolve newly generated target areas.

• Soil and Rock Sampling

  • To date 6,151 soil sample have been collected. Additional soil sampling is planned to cover newly identified zones of alteration.

  • 674 rock samples have been collected to date from over 20 targets

Ewan Webster, President and CEO, commented, "The program is off to an incredible start and we are extremely pleased with the overall progress. Initial drilling has presented us with some spectacular visible gold and we look forward to sharing the assays in the next couple of weeks as they become available. The addition of our second drill rig will help accelerate us towards our ambitious 20,000 metre drill program."

Figure 1: Close-up photograph of visible gold in drill hole 21BNZDD001 at 28.53 metres drill depth. The gold is situated within a residual silica zone with clay-filled vugs, trace sulphides, and barite.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2191/94600_1fe4729484ea39f7_001full.jpg

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

On behalf of the Board of Directors
Thesis Gold Inc.

"Ewan Webster"

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

About Thesis Gold Inc.

Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the "Golden Horseshoe" area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project, please refer to the Company's current geological Technical Report dated September 18, 2020 available under the Company's profile on SEDAR at www.sedar.com.

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

Cautionary Statement Regarding Forward-Looking Information

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

For further information:

Nick Stajduhar
Director
Telephone: 780-701-3216
Email: nicks@thesisgold.com

Dave Burwell
Vice President, The Howard Group
Telephone; 403-410-7907
Email: dave@howardgroupinc.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94600

MONTREAL, Aug. 30, 2021 (GLOBE NEWSWIRE) — The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce that a total of 4,575 metres of diamond drilling has been completed to date on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. Visible gold was observed in thirty-six instances in thirteen of the nineteen definition diamond drill holes. As previously announced, the presence of visible gold, as well as the lithologies intersected, are in accordance with the expectations of Sirios' geologists and the modeling of the gold deposit

The objective of the definition drilling program is to better define the Cheechoo deposit and initiate an updated resource estimate (as early as 2022) that will allow for a significant amount of inferred resources to be converted to indicated resources. The improved gold resource classification of the project will increase the value of the Cheechoo deposit and help advance the project to a more advanced stage with the completion of a Preliminary Economic Assessment (PEA).

About the Cheechoo Property

The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant potential to increase this resource (BBA, P-L. Richard, P. Geo.; J. Torrealba, P. Eng.; D. Evangelista, P. Eng., NI 43-101 Technical Report, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020).

The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng. president and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo. senior geologist, both qualified persons under National Instrument 43-101.

About Sirios

A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec, Canada, Sirios Resources Inc. is focusing primarily on its Cheechoo gold discovery, while actively exploring the gold potential of its other properties.

Forward-Looking Statements:

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. Forward-looking statements involve risks, uncertainties and other factors that could cause actual events, results, performance, expectations and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, but are not limited to: capital and operating costs that differ materially from estimates; the tentative nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other approvals; uncertainties related to the availability and cost of necessary financing in the future changes in financial markets; inflation; fluctuations in metal prices; delays in project development; other risks relating to the mineral exploration and development industry; and risks disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements contained in this news release are reasonable, readers should not place undue reliance on this information, which speaks only as of the date of this news release, and there can be no assurance that such events will occur or occur within the time periods presented. The Company 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 applicable law.

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

Contact :
Dominique Doucet, President, CEO, Eng.
Tel. : (514) 918-2867
ddoucet@sirios.com

website : www.sirios.com

Vancouver, British Columbia–(Newsfile Corp. – August 30, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce the execution of an option agreement (the "Agreement") to sell five battery metals projects in Sweden (the "Projects") to Swedish Nickel Pty. Ltd. ("Swedish Nickel"), a wholly owned subsidiary of Bayrock Resources Limited ("Bayrock"). Bayrock is an Australian unlisted public company and has a pre-existing nickel mining asset in Sweden. In return for the Projects, the Agreement provides EMX with up to a 6% equity interest in Bayrock, annual advance royalty payments, 3% Net Smelter Return ("NSR") royalty interests, work commitments and other considerations.

The nickel-copper Projects are located in northeastern Sweden in the Fennoscandian Shield (see Figure 1), which is host to numerous nickel deposits in Sweden, Finland and western Russia. The Projects each contain drill-defined zones of nickel-copper sulfide mineralization developed in and around mafic to ultramafic intrusions (magmatic sulfide-style mineralization). These zones of mineralization are also variably enriched in cobalt and platinum-group-elements (PGE), key metals used in current battery technologies. Most of the Projects' occurrences and deposits were discovered in the 1970's and 1980's, with only limited and incomplete histories of follow-up exploration. See www.EMXroyalty.com for further information.

The Agreement with Swedish Nickel/Bayrock represents another example of EMX's execution of the royalty generation aspect of its business model. EMX began exploration programs for nickel-copper-cobalt-PGE deposits in the Nordic countries in 2016, at a time of lower battery metal prices and when there was little commercial interest in these types of projects. Improvements in the battery metals markets in recent years have led to a resurgence in interest in battery metals projects, especially in stable political jurisdictions such as the Nordic countries.

Commercial Terms Overview. In accordance with the Agreement, Swedish Nickel can acquire 100% interests in any or all of the Projects through the issuance of cash or shares to EMX and performance of work on individual projects during a 36 month (3 year) option period, subject to the following terms (all dollar amounts in AUD):

• Upon execution of the Agreement, EMX will receive $62,184 in cash.

• Bayrock will raise a minimum of $6 million by the first anniversary of the Agreement and issue EMX between 5 and 6% of Bayrock shares on a fully diluted basis, subject to certain conditions. Alternatively, Swedish Nickel can make a one-time cash payment of $600,000 in lieu of the obligation for issuance of Bayrock shares to EMX.

• Swedish Nickel will expend a minimum of $250,000 per project in the first 18 months of the Agreement, and another $250,000 per project in the second 18 months of the Agreement; for a total of $500,000 per project by the 3^rd anniversary of the Agreement.

After satisfying the work commitments and exercising the option on any or all of the Projects, Swedish Nickel will grant EMX royalty interests with annual advance royalty ("AAR") payments and other considerations on each of the Projects for which an option is exercised:

• EMX will receive a 3% NSR royalty interest in each optioned project. On or before the earlier of the sixth anniversary of the Agreement or delivery of a Feasibility Study, Swedish Nickel has the option to repurchase 1% of the EMX NSR royalty on any Project by paying EMX $1,500,000.

• EMX will receive AAR payments of $25,000 on each optioned project commencing on the third anniversary of the Agreement, with the AAR payment increasing by 10% each year.

• Payments of $600,000 payable in cash or shares, will be made to EMX upon the delivery of a Feasibility Study on any of the Projects.

• Closing is subject to approval by the ASX Stock Exchange.

Overview of the Projects. The Projects are situated within a belt of mafic-ultramafic intrusive complexes that straddle the Sweden-Finland border. This belt of intrusions is host to multiple nickel-sulfide deposits such as the Kevitsa and Sakatti deposits in Finland. Each of the EMX Projects included in the Agreement contain historical drill defined zones of nickel copper mineralization that also show variable enrichments in cobalt and PGE.

Kukasjarvi Project. Kukasjarvi has a geologic setting typical of many magmatic sulfide deposits, where sill-like mafic to ultramafic rocks have intruded graphitic and sulfide bearing sedimentary rocks. Magmatic sulfides at Kukasjarvi were discovered by Boliden AB in the 1970's while tracing mineralized boulders found in the area. Twelve historical diamond holes were drilled for a total of 2,400 meters, and a historical mineral resource for Kukasjarvi was defined^[1]. The deposit is believed to be hosted within a metamorphosed ultramafic cumulate rock related to larger volumes of mafic gabbros mapped in the area. The deposit remains poorly delineated (i.e. incompletely drilled), and high Cu:Ni ratios suggest that the currently defined mineralization is distal in the system(s).

Notträsk Project. Notträsk is a layered mafic intrusion of gabbro-norite-peridotite with nickel copper mineralization that was discovered in the 1970's when road construction exposed an 80 meter thick section of sulfide rich breccias and massive sulfide accumulations. The sulfide mineralization occurs near the base of the intrusive complex, but subsequent exploration programs focussed on mineralization at higher levels within the intrusive complex. Only a few of the historical holes penetrated the basal contact, which represents the primary exploration target and remains largely untested. EMX also sees considerable exploration upside in the apophyses and offshoots of the main intrusive complex which could contain "conduit" type sulfide targets.

Vuostok Project. The Vuostok project is the westernmost of the Projects, located in the Skelleftea mining region of Sweden. Nickel-copper mineralization at Vuostok was discovered in the 1940's after prospectors followed a trail of mineralized boulders that were carried by glaciers up to 55 kilometers to the southeast^[2]. Mineralization at Vuostok mainly occurs along the basal contact of a gabbro sill intruded into granitic country rocks. After discovery, several campaigns of drilling delineated shallow bodies of nickel-copper sulfide mineralization. Many step-out drill holes also intersected masses of nickel-rich sulfide mineralization which appears to be widespread in the gabbroic intrusive complexes. Multiple conductive geophysical anomalies remain untested.

Fiskelträsk Project. Similar to Kukasjarvi, Fiskelträsk is a gabrroic to gabbronorite intrusion emplaced into sulfide-bearing sedimentary rocks. The Fiskelträsk deposit was discovered by Boliden AB during the 1970's, which drilled eleven holes for a total of 1,600 meters. The drill data were utilized by Wiking Minerals AB to estimate a historical resource in 2014 that has been cited in multiple publications on nickel-copper deposits in the region. The mineralization at Fiskelträsk is enriched in cobalt, and although not analyzed during the 1970's exploration programs, subsequent studies showed anomalous PGE values which need follow-up work.

Skogträsk Project. Nickel-copper mineralization at Skogträsk was identified and drilled by the Swedish Geological Survey ("SGU") in 1969-1973. Eleven shallow diamond drill holes by the SGU intersected disseminated and "net-textured" styles of sulfide mineralization at the basal contact of a gabbro-norite-pyroxenite-peridotite intrusion. As was the case at Kukasjarvi and Fiskelträsk, the mafic-ultramafic intrusions at Skogträsk were emplaced into graphitic and sulfide-rich sediments. In 2014 Boss Resources Ltd. conducted electromagnetic geophysical surveys at Skogträsk and drilled two holes totalling 491 meters. One of the holes intersected a significant thickness (~20 meters) of nickel-copper-bearing sulfide mineralization at the basal contact of the intrusive complex, and electromagnetic geophysical data show that the mineralization may extend for several hundred meters along strike. There was no follow-up to the 2014 drill program and multiple geophysical anomalies remain untested on the property.

Comments on References to Historical Drill Results and Resource Estimates, and Nearby Mines and Deposits. EMX has not performed sufficient work to verify the Projects' historical drill results or the published historical resource estimates. The Company is not treating the historical estimates as current mineral resources but considers them as reliable and relevant based upon independent field reviews, including inspections of historical drill core. Additional work to verify or upgrade the historical estimates as current mineral resources would include a) check assaying of historical assay results, b) confirmation drilling, and c) review/updating of the geologic interpretations under the supervision of a Qualified Person. However, there is no guarantee that the historical resource estimates will be updated as current mineral resources with further work.

The nearby mines and deposits discussed in this news release provide context for EMX's Projects, which occur in similar geologic settings, but this is not necessarily indicative that the Projects host similar tonnages or grades of mineralization.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and 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"; and 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 Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

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 perceived merit 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: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

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

Figure 1. Location map for the Projects and Prospective Mineral Belts.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/94715_0e07756a04bf084c_002full.jpg

^[1] Papunen, Heikki, and Gorbunov, eds., 1985, Nickel-Copper Deposits of the Baltic Shield and Scandinavian Caledonides, Geological Survey of Finland, Bulletin 333.

^[2] Grip, E., 1955, Tracing of glacial boulders as an aid to ore prospecting in Sweden, Economic Geology, v. 48, p. 715-725.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94715

TORONTO, Aug. 30, 2021 /CNW/ – Labrador Iron Ore Royalty Corporation (the "Corporation") announced that Iron Ore Company of Canada ("IOC") has declared a dividend payable on September 23, 2021. The Corporation's portion is U.S. $67,950,000 or about CDN. $85.7 million.

About Labrador Iron Ore Royalty Corporation

The Corporation holds a 15.10% equity interest in IOC directly and through its wholly-owned subsidiary, Hollinger-Hanna Limited, and receives a 7% gross overriding royalty and a 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC.

SOURCE Labrador Iron Ore Royalty Corporation

View original content: http://www.newswire.ca/en/releases/archive/August2021/30/c0685.html

BEIJING (Reuters) – China's Tianqi Lithium Corp, one of the world's top lithium producers, posted its first net profit in two years on Sunday as prices for the commodity used in electric-vehicle (EV) batteries rebounded strongly from a protracted slide.

Chengdu-based Tianqi said in a filing to the Shenzhen Stock Exchange its net income was 85.8 million yuan ($13.3 million) for the first half of 2021, rebounding from a loss of 696.6 million yuan a year earlier.

That implies a second-quarter profit of 333.7 million yuan, after a 247.9 million yuan loss in January-March, marking Tianqi's best quarterly result since the fourth quarter of 2018.

Tianqi posted seven straight quarterly losses from mid-2019 after a precipitous three-year plunge in lithium prices, driven by oversupply, left the company short of funds and facing default on billions of dollars in loans.

But in December it secured a $1.4 billion lifeline investment in its Australian operations from IGO Ltd and has been boosted by a near tripling in lithium carbonate prices over the past 12 months as demand from the EV sector roars back.

First-half revenues were 2.35 billion yuan, Tianqi said in the filing, up 25.13% from a year earlier.

Tianqi and IGO this month produced the first batch of another battery chemical, lithium hydroxide, from the Kwinana plant in Western Australia, which had been put on hold early in 2020 as the coronavirus outbreak exacerbated the Chinese company's liquidity struggles.

The company said it expects the commissioning of more battery-making plants in the second half to further boost lithium demand, extending the price rally.

($1 = 6.4711 Chinese yuan renminbi)

(Reporting by Tom Daly and Stella Qiu; Editing by William Mallard)

While prices for industrial metals like copper and iron ore have been weaker, Chris LaFemina, a mining analyst at Jefferies, is upbeat on the sector. Among diversified miners, BHP (ticker: BHP), at $66, is down 20% from its peak; Rio Tinto (RIO) is off 19%, to $75; Anglo American (NGLOY) is off 13%, to $21; and Freeport-McMoRan (FCX), a global copper producer, is down 21% from its peak to $36. Copper prices, down about 10% from their spring peak, to $4.33 a pound, have held up better than iron ore, which is off 40% from its high, to $145 a ton.

PERTH, Australia, Aug. 26, 2021 /CNW Telbec/ – Galaxy Resources Limited (ASX: GXY) (Company) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company's platform (ASX):

• Merger of Galaxy and Orocobre Implemented

The announcement can be viewed at:

https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

SOURCE Galaxy Resources Limited

View original content: http://www.newswire.ca/en/releases/archive/August2021/26/c8739.html

VANCOUVER, BC, Aug. 26, 2021 /CNW/ – Trading resumes in:

Company: Sirios Resources Inc.

TSX-Venture Symbol: SOI

All Issues: Yes

Resumption (ET): 9:45 AM

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

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

View original content: http://www.newswire.ca/en/releases/archive/August2021/26/c8505.html

By Ivana Sekularac and Aleksandar Vasovic

KORENITA, Serbia, Aug 26 (Reuters) – Four years from now, fields in the Jadar river valley in western Serbia where Djorjde Kapetanovic grows corn and soy to feed his cattle will be turned into a waste dump for Europe's biggest lithium mine.

Rio Tinto in July committed $2.4 billion to its Jadar project as global miners push into metals needed for the green energy transition, including lithium, which is used to make electric vehicle batteries. The Jadar project, once completed, would help make Rio a top 10 lithium producer, just as demand for EVs booms.

Opposition to the project is growing, however, because of concerns about possible environmental damage and protest rallies have become more frequent. In April, thousands gathered in Belgrade to protest against widespread pollution in the Balkan country and against the lithium mine near Loznica, 142 km (88 miles) southwest of the capital.

Once it reaches full capacity, the mine is expected to produce 58,000 tonnes of refined battery-grade lithium carbonate per year. That would make it Europe's biggest lithium mine in terms of production, Rio said.

In the village of Korenita, dairy farmer Kapetanovic said the mine, if opened, could leave him without income. Part of his land where he grows crop to feed his animals will be turned into a dump for mining waste, known as tailings, with compensation from the company.

Other areas of his land, his house and a cattle shed will be outside the mine, leaving Kapetanovic worried about exposure to possible pollution.

"Who would want to buy products made on the outskirts of the mine?" said Kapetanovic, who produces 10 tonnes (22,000 lb) of meat and 90,000 litres (23,775 gallons) of milk per year, making him one of the bigger producers in the Loznica area.

Rio Tinto Serbia CEO Vesna Prodanovic said the Anglo-Australian miner would meet all European Union and Serbian environmental regulations, including on the treatment of wastewater.

"There's simply no way for the construction to start without securing licences (and) if all those (EU standards) are not adhered to," she said in an interview.

"We take into account precipitation levels, prescribed dust levels. We take into consideration everything there is in the field. We are making all studies and tests to get clear data about what is the current situation in the area."

One study, commissioned by Rio on the mine’s environmental impact, concluded the mine should not be built as it will cause "irredeemable damage to the biosphere", an abstract obtained by Reuters found.

"The implementation of the planned activities, especially the disposal of industrial waste, will significantly impair biodiversity in the entire area of the planned works," the study by Belgrade University’s Faculty of Biology said.

"In … primary zones of (the mine's) influence, there will be complete and direct destruction of habitats with the disappearance of all organisms that inhabit them."

Rio said the biodiversity study was part of a wider feasibility study and it would conduct further research to "support the most advanced and most expensive solutions in nature protection, which would minimise the impact".

ECONOMIC BOOST

Lithium is central to the European Union's plans to secure an entire supply chain of battery minerals and materials as the use of electric vehicles increases.

Serbia, which sits on the world's 11th largest lithium reserves, is working its way through the accession process to join the EU.

For its own economy, the Jadar project is one of Serbia’s biggest foreign investments to date and could help to tackle rising unemployment in the Balkan country.

Rio said the project would create about 2,100 construction jobs and inject approximately 200 million euros ($235.32 million) per year into the domestic supply chain.

Energy minister Zorana Mihajlovic told Reuters that Serbia aimed, like the EU, to secure the entire production chain, including a potential battery plant and an electric vehicle plant.

Rio's Serbia CEO said the company's studies estimated the project would add 1 percentage point to Serbia's $51.4 billion annual GDP. It would also boost Loznica’s municipal budget by 60-70% annually, she said.

In June, Serbian President Aleksandar Vucic, who is under fire for supporting the project, said a referendum would be held to allow people to decide whether it should go ahead.

The absence of further details on the referendum has worried opponents. In July, Loznica municipal assembly, which is dominated by Vucic's Serbian Progressive Party and its allies, formally gave a green light for mine construction by approving a new municipal plan for land allocation.

Contacted by Reuters, the president's office had no immediate comment.

Rio has bought nearly half of the land required for the mine, which will be spread over roughly 387 hectares.

Some $100 million of Rio's investment has been earmarked for environmental protection, but activists say that is insufficient to compensate for potential damage.

One major concern for environmentalists is Rio's plan to put

waste dumps in the Korenita and Jadar rivers valley, an area prone to flash flooding.

In 2014, Korenita river flooding caused a closed mine's tailings dam to overflow, spilling toxic waste onto agricultural land.

Rio Tinto said it planned to convert the liquid waste into "dry cakes" to make it easier and safer to store and is planning for once-in-a-millennium floods in its construction.

($1 = 0.8499 euros) (Editing by Amran Abocar and Barbara Lewis)

After taking a beating over the past few weeks, oil prices have been surging on rising demand optimism, a major production outage in Mexico, and the first full U.S. regulatory approval of a COVID-19 vaccine. 

October crude and Brent were up 3% to $67.47/bbl and $70.83/bbl, respectively, a day after a 5% surge by both benchmarks snapped a seven-day losing streak after China claimed to have brought its coronavirus cases down to zero and opened up the Ningbo port, one of the busiest in the world, after a two-week shutdown.

About two weeks ago, China—once the epicenter of the virus—took an uncompromising approach by imposing widespread travel restrictions and new lockdowns. Authorities in Beijing curtailed public transport and taxi services in 144 of the worst-hit areas nationwide, including train service and subway usage in Beijing.

That seemed like overkill, with less than 1,000 cases of the delta virus reported nationwide and a good 61% of the population already fully vaccinated. However, Beijing opted to employ its tried-and-tested method of targeted lockdown that has been successful in stopping no less than 30 Covid-19 flare-ups in the past. The capital city of Beijing implemented a two-week quarantine for visitors from high-risk areas, halted the use of community spaces for entertainment, and also limited the number of visitors allowed at parks and scenic areas.

Chinese authorities also urged people to cancel vacations and business trips, especially those from high-risk areas, and also advised college students to delay their return to school for the new semester.

Well, it appears that Beijing has come out on top, once again.

"The developments out of China are reigniting expectations that oil demand would start to rise again," said Phil Flynn, senior market analyst at Price Futures Group Inc. has told Bloomberg.

Meanwhile, a major fire on a Mexican oil platform has wiped out more than 400,000 barrels a day of the nation's output, a development that has calmed nerves with OPEC+ expected to add a similar amount to the market beginning September.

Bullish for commodities

The latest oil price rally also comes with further signals that demand is strengthening.

Over the past two days, the difference between the nearest two December Brent futures contracts jumped by $1 a barrel, while the global benchmark increased its premium to WTI to the widest since April. 

Meanwhile, the American Petroleum Institute (API) has reported a 1.622 million decline in U.S. crude stockpiles, accompanied by a nearly 1 million drop in gasoline stocks. API has also reported a 245,000 barrel dip in distillate stocks last week, which unfortunately marks the smallest drop since January.  

The turnaround in demand sentiment has also helped boost other commodities, with iron ore prices jumping 10%.

Shares of iron miners Vale (NYSE:VALE), Rio Tinto (NYSE:RIO), and BHP (NYSE:BHP) are all trading higher as iron ore prices bounce off a spectacular collapse that saw prices crash ~25% over the past 30 days.

Iron ore futures in Singapore have rebounded as much as 10% to $149.65/metric, thanks in large part to the improved sentiment across all asset classes stemming from China's improved situation as well as a potential boost to the U.S. vaccination drive.

China's central bank has said it will try and stabilize the supply of credit and increase the amount of money supporting smaller businesses. There are expectations for further stimulus targeting the infrastructure sector, manufacturing, and real estate after the July slowdown left the economic situation looking bleak.

All eyes will now turn to the Jackson Hole symposium—being held virtually from Thursday—which is expected to offer important insights into how the Federal Reserve plans to scale back stimulus.

The dollar has lately hit a nine-month high, weighing heavily on dollar-priced commodities, including oil, due to a surge in safe-haven demand. The dollar's multi-faceted strengths have been on display once again following the release of weak U.S. retail sales data that underwhelmed against consensus estimates; Yet, the greenback has been gaining ground against its international peers due to expectations of the Fed to begin its taper program in September.

However, Jeff Gundlach (aka the bond king) says not to worry too much about the taper because the Fed intends to keep rates near zero for years to come.

By Alex Kimani for Oilprice.com

More Top Reads From Oilprice.com:

• Europe Faces LNG Supply Crunch
  

• Brent Climbs Back Above $70 On Major Production Outage
  

• ‘Skimming Stones’ Pattern Shows Wall Street Is Wrong About Oil

Read this article on OilPrice.com

The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But when you pick a company that is really flourishing, you can make more than 100%. For example, the Golden Valley Mines And Royalties Ltd. (CVE:GZZ) share price has soared 135% in the last three years. That sort of return is as solid as granite.

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

See our latest analysis for Golden Valley Mines And Royalties

Golden Valley Mines And Royalties recorded just CA$1,330,223 in revenue over the last twelve months, which isn't really enough for us to consider it to have a proven product. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. For example, investors may be hoping that Golden Valley Mines And Royalties finds some valuable resources, before it runs out of money.

We think companies that have neither significant revenues nor profits are pretty high risk. There is usually a significant chance that they will need more money for business development, putting them at the mercy of capital markets to raise equity. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized). Golden Valley Mines And Royalties has already given some investors a taste of the sweet gains that high risk investing can generate, if your timing is right.

Golden Valley Mines And Royalties had cash in excess of all liabilities of CA$13m when it last reported (June 2021). That's not too bad but management may have to think about raising capital or taking on debt, unless the company is close to breaking even. With the share price up 88% per year, over 3 years , the market is seems hopeful about the potential, despite the cash burn. You can see in the image below, how Golden Valley Mines And Royalties' cash levels have changed over time (click to see the values).

It can be extremely risky to invest in a company that doesn't even have revenue. There's no way to know its value easily. Given that situation, many of the best investors like to check if insiders have been buying shares. It's usually a positive if they have, as it may indicate they see value in the stock. Luckily we are in a position to provide you with this free chart of insider buying (and selling).

A Different Perspective

Investors in Golden Valley Mines And Royalties had a tough year, with a total loss of 12%, against a market gain of about 29%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 15%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Take risks, for example – Golden Valley Mines And Royalties has 2 warning signs we think you should be aware of.

Golden Valley Mines And Royalties is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

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.

KELOWNA, BC, Aug. 26, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") has released an update on the work program at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.

Dr. Charles Fipke reports:

A group of five geologists visited the accessible newly discovered gold-copper-silver-lead-zinc showings around the high-grade Main Zone massive sulphides presently being drilled. The locations of these showings are presented on Map 1.

Anomaly G66 contains outstanding sub-cropping massive to disseminated mineralization over an area of 65 metres wide and 410 metres long as mapped by structural geologist Chris Buchanan. This north-south trending zone disappears under talus to the north and under landslide debris to the south.

Geologist Chad Ulansky collected 12 rock samples from 65 metres of width and 150 metres of strike length from the sub-cropping mineralization. These samples averaged 10.45% copper and 32 g/t silver (see release dated June 24, 2021).

This high-grade disseminated to massive mineralization is so impressive it was decided to immediately mobilize a drill to test this showing. Drilling is expected to commence today.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

Signed,

Charles Fipke

Charles Fipke

Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statements or other reports and filings with Canadian securities regulators. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

SOURCE Cantex Mine Development Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/26/c2858.html

GraphEN

GraphEN

MONTRÉAL, Aug. 26, 2021 (GLOBE NEWSWIRE) — The management of Sirios Resources Inc. (TSX-V: SOI) is pleased to announce results from the first batch of reanalysis completed on samples from previous drilling on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. A total of 359 samples were reanalyzed using 1 kg of material per sample at Agat's laboratory using the "LeachWELL" leaching technique. The recent assay results show an increase in the gold content of approximately 15% compared to previous assays performed on 50g of material.

The comparative statistical data obtained include:

• 21% Increase in average gold content when comparing each pair of assay results,

• 15% Increase in median gold grade from 0.33 g/t to 0.38 g/t,

• 17% Increase in favour of 1 kg analyses according to the linear trend line of the Q-Q (quantile-quantile) graph.

The average gold grade reported in the table above (0.51 g/t / 0.53 g/t) is lower than the current reported grade of the Cheechoo mineral resource estimate (0.65 g/t). This decrease is due to the selection of samples for reanalysis that excludes most of the pre-existing results above 2 g/t Au, as these samples have already been analysed using 1 kg of material according to Sirios’ sampling protocol in place for Cheechoo. The lower gold grade threshold for selecting samples for reanalysis using 1 kg of material was set at 0.2 g/t in order to be as close as possible to the mineral resource estimate cut-off grade defined for the project.

Previous work had identified that samples returning greater than 2 g/t gold show an increase in the gold content when assaying with 1 kg of material. Samples with a gold grade ranging between 0.2 g/t and 2 g/t make up approximately 38% of the total number of samples used in the current resource estimation and therefore represent a major part of the reanalysis program.

An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ff446e9-4481-46c9-9020-a2f63f07311c

This program is based on recommendations from Lynda Bloom, P.Geo. with Analytical Solutions Ltd., a leading authority in the field of exploration geochemistry and assay methods. The recommendations included using a larger sample size for assays, followed by a statistical study conducted by Sirios' geologists. Results of this study indicate that the measured gold content based on 1 kg samples is generally higher and more representative of the true gold grade than the sample analyzed with 50 g of material, which is more commonly analysed in the laboratory. This relationship between the measured gold content and the size of the analyzed sample is consistent with the mineralogical observations and data from the various metallurgical tests previously performed by Sirios and is typical of other deposits with a pronounced “nugget effect”.

Dominique Doucet, founder and CEO of Sirios, stated: "Following these encouraging results, the additional planned programs of reanalysis will be carried out in the coming months. In addition, a revision to Sirios’ assaying protocol will be applied to the current drilling campaign to increase the amount of assaying done using 1 kg of material. We believe that following the completion of this important reanalysis program, the likelihood of an upward revision to the average gold grade of the Cheechoo deposit is excellent. Drilling being carried out this summer and the reanalysis program will increase the quality of the Cheechoo deposit and possibly its average gold grade."

Assay quality control

For the re-assay program, 1 kg of reject material was taken from previous core samples to be assayed using the “LeachWELL” technique at AGAT Laboratories. This technique uses accelerated cyanide leaching equipment employing the patented LeachWELL™ reagent on 1 kg of pulverized material and was carried out over a 4 hours leaching period. After the leaching process, the residue was filtered and dried. The leached solution was analysed by ICP-MS for gold content and 50g of the residue was assayed by Fire Assay with an Atomic Absorption finish. The then combined analysis give the total gold content for the sample. A strict QA/QC program is in place by integrating blanks and certified reference standards to the reject sample sequence. Special certified reference standards (assay pills) have been used for assuring an adequate quality control on the 1 kg material assays.

About the Cheechoo property

The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for the Cheechoo project (October 2020) included an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant potential to increase this resource.¹

The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng. president and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo. senior geologist, both qualified persons under National Instrument 43-101.

About Sirios

A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec, Canada, Sirios Resources Inc. is focusing primarily on its Cheechoo gold discovery, while actively exploring the gold potential of its other properties.

Forward Looking Statements :

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. Forward-looking statements involve risks, uncertainties and other factors that could cause actual events, results, performance, expectations and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, but are not limited to: capital and operating costs that differ materially from estimates; the tentative nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other approvals; uncertainties related to the availability and cost of necessary financing in the future changes in financial markets; inflation; fluctuations in metal prices; delays in project development; other risks relating to the mineral exploration and development industry; and risks disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements contained in this news release are reasonable, readers should not place undue reliance on this information, which speaks only as of the date of this news release, and there can be no assurance that such events will occur or occur within the time periods presented. The Company 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 applicable law.

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

Contact :
Dominique Doucet, President, CEO, Eng.
Tel. : (514) 918-2867
ddoucet@sirios.com

website : www.sirios.com

¹ BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020

Vancouver, British Columbia–(Newsfile Corp. – August 26, 2021) – Affinity Metals Corp. (TSXV: AFF) (the "Company") announces that it intends to extend the exercise term of certain outstanding warrants to purchase an aggregate of 6,000,000 common shares of the Company, 1,500,000 of which are held by directors and officers of the Company. These warrants were originally issued September 17, 2019 and are exercisable at a price of $0.15/share until September 17, 2021. The Company proposes to extend their term by one year such that the warrants will be exercisable until September 17, 2022 at an exercise price of $0.15/share. All other terms of the warrants will remain unchanged.

The proposed amendment to the term of the warrants is subject to approval by the TSX Venture Exchange.

On behalf of the Board of Directors

Robert Edwards
CEO and Director of Affinity Metals Corp.

Travis Steinke, Corporate Development Manager, can be contacted at: info@affinity-metals.com

Information relating to the Corporation is also available at: www.affinity-metals.com

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

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94581

A month has gone by since the last earnings report for Southern Copper (SCCO). Shares have lost about 3% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Southern Copper due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Southern Copper Q2 Earnings Beat Estimates, Up Y/Y

Southern Copper reported second-quarter 2021 earnings of $1.21 per share, which beat the Zacks Consensus Estimate of $1.15. The whopping 256% year-over-year improvement was primarily driven by higher metal prices and the company’s efforts to improve cost efficiency and productivity.
 
Net sales were $2,897 million, up 62% year over year. The top line beat the Zacks Consensus Estimate of $2,826 million. Revenues were mainly driven by higher metal prices for copper (81.8%), molybdenum (68.6%), silver (61.9%), zinc (48.3%) and gold (6.2%).

Operating cash cost per pound of copper, including by-product revenue credits, was 59 cents the second quarter, up 11.5% from 66 cents reported in the year ago quarter. Total operating costs inched up 0.9% year over year to $986 million. Operating profit soared 190% to $1,675 million on higher sales. Operating margin in the reported quarter was 57.8% compared with 32.3% in the prior-year quarter. Adjusted EBITDA soared 142% year over year to $1,862 million in second-quarter 2021. Adjusted EBITDA margin was 64.3% compared with the year-ago quarter figure of 43.1%.

Operating Highlights

Copper: Southern Copper mined 237,110 tons of copper during the reported quarter, down 6.3% year over year. Decline in ore grades, due to stripping and maintenance works that were carried out this year after being postponed in 2020 on account of the COVID 19 pandemic, weighed on production numbers in the quarter.
The company expects copper production in 2021 to be around 960,000 tons.

Molybdenum: The company mined 6,982 tons of molybdenum during the reported quarter, reflecting a year-over-year drop of 10.8%. Higher production at Cuajone and La Caridad were offset by lower output at both the Toquepala and Buenavista mines.

Zinc: The company’s zinc production rose 8.9% year over year to 17,111 tons in the quarter under review. Higher production at both the Charcas mine and the San Martin mine was partially offset by lower production at the Santa Barbara mine.

Silver: Southern Copper’s silver production decreased 16.1% year over year to 4,644,000 ounces due to lower production at Buenavista, IMMSA and Toquepala operations.

Financials

Southern Copper generated net cash from operating activities of $1,061.5 million in the second quarter of 2021 compared with $419.3 million in the prior-year quarter. Cash and cash equivalents were at $2,394 million at the end of the second quarter, up from $2,183 million as of 2020 end. Long-term debt was $6,546 million at the quarter end compared with $6,544 million as of 2020 end. The company made capital investments worth $220 million during the quarter under review.

How Have Estimates Been Moving Since Then?

It turns out, estimates revision have trended upward during the past month.

VGM Scores

Currently, Southern Copper has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, Southern Copper has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

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
 
To read this article on Zacks.com click here.

These are the top dividend stocks in the Russell 1000 with the highest forward dividend yield for September.

By Marco Aquino

LIMA, Aug 25 (Reuters) – Peru is asking help from mining companies Las Bambas, of China's MMG Ltd , and Grupo Mexico's Southern Copper to build a rail system from a mineral-rich Andean zone to the country's central Pacific coast, Mining Minister Ivan Merino said in an interview.

Representatives of both companies said they were open to discussing participation in the railroad, which would be used to transport both commodities and people. Peru is already the world's No. 2 copper producer, and the country's new government want to further develop the sector.

The railway, in the technical evaluation stage and with construction scheduled to start in 2023, would start in Cusco or Apurimac and go to the port of Marcona, Merino told Reuters in an interview late on Tuesday.

"The cost of the project is being evaluated," the minister said, adding that the train should be ready to roll in 2028.

Peru's southern Andean region has large mines such as MMG's Las Bambas and Grupo Mexico's Los Chancas.

Las Bambas produces an average 350,000 tonnes of copper per year and Los Chancas is a $2.6 billion project, currently in the environmental impact study phase. Southern Copper plans to produce 100,000 tonnes of copper per year at the site.

"They are part of the project," Merino said.

Asked about the plan, Southern Copper Vice President of Finance Raul Jacob said that he had discussed the train proposal with Merino.

"We consider it an interesting project that must be carefully evaluated," he told Reuters in a written message.

MMG 's corporate affairs manager, Maggie Qin, said in an email that Las Bambas is aware of the railway plan.

"We are willing to work closely with the government and help it when and where it is needed," she said.

Australia-based MMG is a subsidiary of Chinese state-owned enterprise China Minmetals Corp.

(Reporting by Marco Aquino, writing by Hugh Bronstein)

Cleveland-Cliffs (CLF) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CLF broke through the 20-day moving average, which suggests a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.

Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

CLF has rallied 11.3% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests CLF could be on the verge of another move higher.

Looking at CLF's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CLF for more gains in the near future.

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

ClevelandCliffs Inc. (CLF) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Global crude steel production rose in July despite a slump in output from top producer China as Beijing stepped up measures to cut production aimed at cleaning up the environment.  Production increased across other major steel-producing countries for the reported month with the United States and Japan seeing the biggest gains.

According to the latest World Steel Association (“WSA”) report, crude steel production for 64 reporting nations expanded 3.3% year over year to 161.7 million tons (Mt) in July. Production rose across most regions in the reported month.

China Output Slips on Production Restrictions

Crude steel production from China fell in the reported month on government’s efforts to control production to reduce carbon emissions. Per the WSA, production in China, which accounts for more than half of the global steel output, went down 8.4% year over year to 86.8 Mt in July.

Beijing is looking to reduce steel output this year from record levels witnessed in 2020. The production restrictions this year are aimed at reducing air pollution and controlling costs of raw materials including iron ore. China has been pushing steel mills in the country since June to implement output and capacity curbs to comply with the norms to cut carbon emissions. The steel sector is among the biggest sources of carbon emissions in China, accounting for roughly 15% of national carbon emissions.

China’s steel output topped 1 billion tons in 2020 following a production ramp-up on a strong rebound in domestic demand, driven by government investment in property and infrastructure. Output from the country hit a record high of 99.5 Mt in May 2021 on the back of firm domestic demand and healthy profit margins at mills, before retreating to 93.9 Mt in June. Production climbed 11.8% year over year to 563.3 Mt in the first half of 2021, per WSA.

Production curbs are expected to keep China’s steel output levels under check in the coming months. Output is also likely to be capped by an expected softening of steel demand in the country, partly resulting from a slowdown in the construction sector.

How Other Major Producers Fared in July?

Among the other major Asian producers, India — the second-largest producer — saw a 13.3% rise in production to 9.8 Mt in July. Steel demand is picking up in the country on a revival in economic activities with the lifting of lockdowns and restrictions imposed by state governments to stem the rapid spread of the virus amid the deadly second wave.

Production in Japan jumped 32.5% to 8 Mt in the reported month. Output rose for the fifth straight month as steel makers in the country are seeing a rebound in industrial demand from the pandemic-led slump. Crude steel output in South Korea also rose 10.8% to 6.1 Mt. Consolidated output went down 2.5% to 116.4 Mt in Asia and Oceania.

In North America, crude steel production climbed 37.9% to 7.5 Mt in the United States in July. The pandemic-induced demand destruction forced U.S. steel mills to curtail production and idle operations with capacity utilization slumping to a multi-year lows during the first half of 2020. However, demand has rebounded with the resumption of operations across major steel-consuming sectors, leading to an uptick in capacity utilization and domestic steel production. U.S. capacity utilization rate broke above the important 80% level in May 2021 for the first time since the start of the pandemic in March 2020, and is currently hovering above that level. Overall production in North America jumped 36% to roughly 10.2 Mt.  

In the Europe Union (EU), production from Germany, the biggest producer in the region, climbed 24.7% to 3 Mt. Total output was up 30.3% in the EU to around 13 Mt.

Production in the Middle East rose 9.2% to 3.6 Mt in July. Iran, the top producer in the region, saw a 9% rise to 2.6 Mt. Africa recorded a 36.9% surge to 1.3 Mt.

Among other notable producers, output from Turkey increased 2.5% to 3.2 Mt. Output from Brazil, the largest producer in South America, went up 14.5% to 3 Mt in July.

Steel Industry Booming on Surging Prices, Demand

The steel industry is currently enjoying a boom after being rattled by the fallout from the pandemic last year, thanks to a strong revival in demand and record-high steel prices.

Coronavirus-induced demand destruction wreaked havoc on the steel industry for much of the first half of last year. However, strong pent-up demand and skyrocketing steel prices have pulled the industry out of its funk. Steel demand is on an upswing with the resumption of operations across major sectors such as automotive, construction and machinery following easing of lockdowns and restrictions across the word. Demand remains robust across construction and manufacturing sectors.

Steel prices have also witnessed an unprecedented surge this year underpinned by strong underlying supply and demand fundamentals. U.S. steel prices are on a tear on an upturn in demand, tight supply, higher raw material costs and low steel supply-chain inventories.

The benchmark hot-rolled coil (“HRC”) prices have shot up more than four-fold from the lows witnessed in August 2020. HRC prices have broken above the $1,900 per short ton level as the upward momentum continues. A prime reason behind the spurt in U.S. steel prices is the demand-supply imbalance. Higher prices are likely to act as a catalyst and drive margins of steel companies through the balance of 2021.

Steel Stocks Worth a Look

A few stocks currently worth a look in the steel space are ArcelorMittal MT, Nucor Corporation NUE, United States Steel Corporation X, Olympic Steel, Inc. ZEUS and Schnitzer Steel Industries, Inc. SCHN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

ArcelorMittal has expected earnings growth rate of 1,731.2% for the current year. The Zacks Consensus Estimate for the company’s current-year earnings has been revised 53.4% upward over the last 60 days. The stock has also rallied roughly 181% over a year.

Nucor has expected earnings growth rate of 489.2% for the current year. The consensus estimate for the current year has been revised 33.8% upward over the last 60 days. It has seen its shares surge around 171% over the past year.

U.S. Steel has expected earnings growth rate of 349.3% for the current year. The Zacks Consensus Estimate for the current year has been revised 21.5% upward over the last 60 days. The stock has also shot up roughly 254% over the past year.

Olympic Steel has expected earnings growth rate of 2,362.2% for the current year. The consensus estimate for the current year has been revised 72.2% upward over the last 60 days. The stock has also surged roughly 162% over the past year.

Schnitzer Steel has expected earnings growth rate of 1,253.5% for the current fiscal year. The consensus estimate for the current fiscal has been revised 8.8% upward over the last 60 days. The stock has also surged around 153% over a year.
 

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VANCOUVER, BC, Aug. 25, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Sirios Resources Inc.

TSX-Venture Symbol: SOI

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 3:27 PM

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

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

View original content: http://www.newswire.ca/en/releases/archive/August2021/25/c3420.html

TORONTO, ON / ACCESSWIRE / August 25, 2021 / Bold Ventures Inc. (TSXV:BOL)(the "Company" or "Bold") is pleased to report that Jeff Wareham has joined the Company's Board of Directors. Mr. Wareham has extensive experience in the financial services, private and public equity sectors. "We are very happy that Jeff has joined our Board of Directors. His knowledge, experience, and network will certainly strengthen the Company," commented Bold CEO David Graham.

In other news, the Company announces the resignation of Rodger Roden as Chief Financial Officer and the appointment of Robert Suttie as his replacement in that position. Mr. Graham stated, "On behalf of the Board and Management at Bold, I would like to extend our thanks and appreciation to Rodger for a decade of professional service to the Company and wish him the best in his future endeavors."

Mr. Suttie brings over twenty-five years of accounting experience with a variety of corporate entities ranging from private firms to a variety of publicly traded companies on the TSX and TSX-Venture exchange. "We are very pleased that Rob has come on board. Having worked with Rob in the past, I am sure it will be a comfortable fit with a seamless transition," remarked Mr. Graham.

For complete biographies of the Company's Management and Board of Directors please visit www.boldventuresinc.com.

The Company announces, subject to exchange approval, it has granted a total of 500,000 options to a director and an officer of the Company. In accordance with the Company's stock option plan, the granted options are exercisable at $0.09 per share, have a term of five years, and vest immediately.

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

Please visit the Bold website at www.boldventuresinc.com and see our recent news and project information.

About Bold Ventures Inc.

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

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

"David B Graham"
David Graham
President and CEO

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

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

SOURCE: Bold Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/661205/Bold-Ventures-Welcomes-New-Director-and-New-CFO

VANCOUVER, British Columbia, Aug. 25, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper” or the “Company”) is pleased to announce that the Company has completed the non-brokered private placement (the “Private Placement” or “Financing”) and raised gross proceeds of approximately Cdn $1,100,000 with two subscribers.

The Financing was subscribed for equally by Nascent Exploration Pty Ltd., a wholly owned subsidiary of Fortescue Metals Group Ltd. (collectively “Fortescue”) and Lind Global Fund II, LP, an institutional investment fund managed by The Lind Partners, LLC (collectively "Lind").

A total of 8,800,000 common shares of the Company (the “Shares”) were sold at a price of Cdn$0.125 to raise gross proceeds of Cdn $1,100,000. The Shares are subject to a statutory 4 month and one day hold period. The proceeds of the Private Placement are to be used to advance the Cañariaco Project as well as for general corporate and working capital purposes.

“Funding from the private placement will continue to unlock value for shareholders as we are now well financed to complete an updated Preliminary Economic Assessment (“PEA”) which will better define opportunities with potential to lower initial capital expenditures, operational costs and enhance our environmental, social and governance practices as recently identified by Ausenco. The funds will also allow us to further advance our permitting for drilling and our community work,” commented Joanne Freeze, CEO.

About The Lind Partners
The Lind Partners is an institutional fund manager and leading provider of growth capital to small and mid-cap companies publicly traded in the US, Canada, Australia and the UK. Lind makes direct investments ranging from US$1 to US$30 million, invests in syndicated equity offerings and selectively buys on market. Lind has completed more than 100 direct investments totaling over US$1 Billion in value and has been a flexible and supportive capital partner to investee companies since 2011. For more information, visit http://www.thelindpartners.com.

About Fortescue Metals Group
A proud West Australian company, Fortescue is a global leader in the iron ore industry, recognised for its culture, innovation and industry-leading development of world class infrastructure and mining assets in the Pilbara, Western Australia. Since Fortescue was established in 2003, Fortescue has discovered and developed major iron ore deposits, constructed some of the most globally significant mines and has grown to be one of the world’s largest producers of iron ore. Delivering consistent operational excellence, Fortescue’s integrated mining, rail, shipping and marketing teams work together to export 180-185 million tonnes of iron ore annually (FY22 guidance) and the Company’s commitment to technology and innovation ensures it remains one of the world’s lowest cost iron ore producers. Fortescue has an active global exploration program and through its wholly-owned subsidiary Fortescue Future Industries, is leading the global energy transition by developing a portfolio of large scale renewable energy and green hydrogen / ammonia projects. Fortescue has increased its interest in the Company from 18.9% to 19.9% with this Private Placement.

The Private Placement is subject to Candente Copper’s completion of its final filings with the Toronto Stock Exchange.

About Candente Copper

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

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

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

On behalf of the Board of Candente Copper Corp.

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

“Joanne C. Freeze” P.Geo.
President, CEO and Director
Tel +1 604-689-1957
info@candentecopper.com
www.candentecopper.com

NR-136

MELBOURNE, Australia, August 24, 2021–(BUSINESS WIRE)–Rio Tinto and Sumitomo Corporation today announced a partnership to study the construction of a hydrogen pilot plant at Rio Tinto’s Yarwun alumina refinery in Gladstone and explore the potential use of hydrogen at the refinery.

The two global companies have signed a letter of intent that focuses on Yarwun as the location for a Gladstone hydrogen plant that Sumitomo has been studying. If the project proceeds, the pilot plant would produce hydrogen for the recently announced Gladstone Hydrogen Ecosystem.

The study supports the efforts of Australian, Queensland and local governments to establish Gladstone as a clean hydrogen hub of the future.

Rio Tinto Australia Chief Executive Kellie Parker said "Rio Tinto has a long relationship with Sumitomo and we are delighted to partner with them to explore the possibilities of hydrogen, not only for our own refinery, but for Sumitomo to supply industry more broadly in Gladstone.

"Reducing the carbon intensity of our alumina production will be key to meeting our 2030 and 2050 climate targets. There is clearly more work to be done, but partnerships and projects like this are an important part of helping us get there."

Sumitomo Corporation’s Energy Innovation Initiative Director Hajime Mori said "We are excited about working together with Rio Tinto as our long-term partner to develop this hydrogen project in Gladstone and working toward our company’s vision of achieving carbon neutrality by 2050.

"We believe the pilot plant will play a significant role in establishing the Gladstone Hydrogen Ecosystem.

"Sumitomo has commenced the Design Study and Preliminary Master Planning to build the Gladstone hydrogen ecosystem and we will continue to work towards future hydrogen exports from Gladstone.

Deputy Premier and Minister for State Development Steven Miles said Gladstone is an industrial powerhouse and this partnership presents a great opportunity for the region and for Queensland.

"This is only the beginning of a wave of international collaborations that will lead to new industries and new jobs underpinned by the supply of renewable energy," Mr Miles said.

"With the Palaszczuk Government’s strong commitment to creating more jobs in emerging industries, we will work to keep Queensland at the forefront of renewable hydrogen and the opportunities that come with it."

Minister for Energy, Renewables and Hydrogen Mick de Brenni said the Palaszczuk Government was developing Queensland’s Energy Plan to reinforce our platform for international partnerships focused on new technology and a stronger Australia.

"This is a plan to create a renewable energy ecosystem that will power our low-carbon ambitions to transform industry, create thousands of jobs for Queenslanders, and decarbonise not only Queensland but the nation."

Minister for Regional Development and Manufacturing and Minister for Water Glenn Butcher said the partnership would provide important economic opportunities for the entire Central Queensland region.

"Gladstone’s world-class deep water port, water security through Awoonga Dam, and industry attraction via the local State Development Area have set Gladstone up to become the hydrogen capital of Australia, providing massive employment and supply chain opportunities both locally and in the Central Queensland region."

The Sumitomo partnership complements a recently announced feasibility study into using hydrogen to replace natural gas in the alumina refining process at Yarwun and provides the potential for larger-scale implementation if the studies are successful.

About Rio Tinto:

Rio Tinto produces high-quality iron ore, copper, aluminium, and minerals that have an essential role in enabling the low-carbon transition. We have publicly acknowledged the reality of climate change for over two decades and have reduced our emissions footprint by over 30 percent in the decade to 2020. We have set 2030 targets to reduce our absolute emissions by 15% and our emissions intensity by 30% relative to our 2018 baseline. These targets are consistent with a 45% reduction in absolute emissions, relative to 2010 levels, and the Intergovernmental Panel on Climate Change (IPCC) pathways to 1.5°C. They are supported by our commitment to spend approximately $1 billion on emissions reduction initiatives over the first five years of the ten-year target period. In 2020, we set new Scope 3 emissions reduction goals to guide our partnership approach across our value chain. Read more about our approach to climate change: www.riotinto.com/invest/reports/climate-change-report

About Sumitomo Corporation:

Sumitomo Corporation ("SC") is a leading Fortune 500 global trading and business investment company with 135 locations (Japan: 22, Overseas: 113) in 66 countries and regions. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilising worldwide networks, provides customers with financing, serves as an organiser and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include six business units: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics, and one initiative: Energy Innovation.

Sumitomo Corporation established a new business organisation entitled the Energy Innovation Initiative (EII) in April 2021 which will carry this Gladstone project. In order to greatly contribute to the achievement of our long-term goals toward climate change mitigation, "Carbon neutralisation in 2050" and "Realisation of a sustainable energy cycle", we will accelerate our efforts for the materialisation of a hydrogen society by promoting hydrogen related businesses.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210823005690/en/

Contacts

Media Relations, United Kingdom
Illtud Harri
M +44 7920 503 600

David Outhwaite
T +44 20 7781 1623
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Media Relations, Australia
Jonathan Rose
T +61 3 9283 3088
M +61 447 028 913

Matt Chambers
T +61 3 9283 3087
M +61 433 525 739s

Jesse Riseborough
T +61 8 6211 6013
M +61 436 653 412

Investor Relations, United Kingdom
Menno Sanderse
T: +44 20 7781 1517
M: +44 7825 195 178

David Ovington
T +44 20 7781 2051
M +44 7920 010 978

Clare Peever
M: +44 7788 967 877

Investor Relations, Australia
Natalie Worley
T +61 3 9283 3063
M +61 409 210 462

Amar Jambaa
T +61 3 9283 3627
M +61 4 7286 5948

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

media.enquiries@riotinto.com
riotinto.com

Follow @RioTinto on Twitter

Category: General

LONDON, August 24, 2021–(BUSINESS WIRE)–Rio Tinto has today commenced the process of restarting operations at Richards Bay Minerals (RBM) in South Africa. This follows a stabilisation of the security situation around the mine, supported by the national and provincial government, as well as substantive engagement with host communities and their traditional authorities.

Rio Tinto chief executive Minerals Sinead Kaufman said "The safety and security of our people has been our priority throughout and we recognise the collaboration and constructive dialogue we have had with all stakeholders to get us into a position where we can restart operations and resume contributing to the host communities, KwaZulu-Natal and South Africa. I also acknowledge the resilience and dedication shown by all our people at RBM over the past weeks."

Operations will be ramping up to capacity as soon as possible. The overall impact of the suspension of operations, including the shutdown of furnace number 4 as announced on 21 July 2021, is still to be assessed. At this time, the force majeure declared on customer contracts remains in place.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210824005423/en/

Contacts

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

Media Relations, UK
Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

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

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

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia
Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

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

riotinto.com

Category: RBM