Crude prices recovered for the second day in a row, fueled by optimism about falling COVID-19 infections in China and by a major production outage in the Gulf of Mexico
Source: Baker Hughes.
Chart of the Week
Indian Crude Imports Drop to 1-Year Low in July
– Indian demand seems to have bottomed out in July, hitting a 1-year low in crude oil imports at 3.4 million b/d.
– The weak readings come from a double whammy of refinery maintenance in at least six major refineries across the country and still-high product stocks that were slow to clear during the April-May lockdowns.
– With the monsoon season largely over and refineries coming back from seasonal maintenance, forthcoming months should see tangible improvements, boosted by a narrowing Brent-Dubai EFS (ie more arbitrage barrels coming in).
– August imports so far seem to be indicating a gradual rebound in Indian demand, with arrivals between August 01-23 averaging 3.8 million b/d, up by 400,000 b/d month-on-month.
Market Movers
– S&P warned that it might downgrade the credit rating of Australian energy firm BHP (NYSE:BHP) after it sold its oil business to Woodside in a nil-premium merger. The potential downgrade to BBB+ would see BHP’s rating drop to its lowest level since it was first rated in 1995.
– Brazil’s NOC Petrobras (NYSE:PBR) launched operations at its 180 kbpd Carioca FPSO in the Sepia field, some 200km off the coast in water depth of 2200 meters. Petrobras’ stocks failed to react so far.
– Royal Dutch Shell (NYSE:RDS.A) lost its OML 11 block in Nigeria after a court decision ruled the Anglo-Dutch major wasn’t entitled to renew it, coming only several weeks after Shell paid a $111 million fine for a decades-old oil spill. Shell’s leaving Nigeria seems imminent now.
Tuesday, August 24, 2021
Crude prices recovered somewhat from last week’s freefall, boosted by improving signals coming out of East Asia (China reporting no locally transmitted infections) as well as the Ku-Maloob-Zaap platform seeing a major supply disruption in offshore Mexico. ICE Brent quotes swung back above the $70 per barrel mark, whilst WTI futures trended around $67.5 per barrel, further extending the widening Brent-WTI spread.
Hedge Funds Keep on Selling Crude. Hedge funds and money managers have sold petroleum for the seventh time in nine weeks, Reuters reports, as demand concerns have bitten into the summer season’s bullish sentiment. The sales were equivalent to 40 MMbbls in the six most important futures in the week to 17 August.
Ku-Maloob-Zaap Fire Debilitates Mexico Offshore Output. A fire on a PEMEX-operated offshore oil platform connected to the Ku-Maloob-Zaap complex (40% of Mexico’s crude output) killed at least 5 people, forcing the Mexican NOC to decrease output as the platform ran out of natural gas for reinjection.
Guyana to Pick Crude Marketer from 15 Companies. Fifteen companies have bid to become Guyana’s crude oil marketer, with China’s Sinochem (SH:600500) bidding the lowest price at $0.02 per barrel. The lowest bid might not guarantee the deal as Guyana was seeking for an experienced trading company with solid monthly crude marketing volumes.
ExxonMobil Negotiates PNG Deal Again. The government of Papua New Guinea relaunched talks with US major ExxonMobil (NYSE:XOM) on the P’nyang gas project following a 2-year hiatus. The negotiations were broken off after the two sides failed to agree if P’nyang should be channeled into a separate train of PNG LNG.
Baltic Freight Index Rises to Highest Since 2010. The Baltic Exchange’s sea freight Baltic Index continues to soar, now standing at 4,147 points, with capesize rates increasing for 11 straight sessions already. Shipping constraints in China coupled with robust commodity demand remain the main drivers of the ongoing freight rate surge.
GM Recalls Every Chevy Bolt EV. General Motors (NYSE:GM) indefinitely halt the sales of all Chevy Bolt EVs and recalled all models produced in 2019-2022 due to fire risks from the car’s high-voltage battery pack, dealing a $1 trillion blow to the US carmaker.
Panama Canal Maintenance to Sap Transit Capacity. The Panama Canal will go into scheduled maintenance between 29 August – 10 September, pushing up freight prices in the Western Hemisphere and severely impacting the transiting capacity for non-booked ships which will be forced to wait 14-15 days to pass.
Chinese Merger to Create Third-Largest Steelmaker. The long-mooted merger of Chinese steelmakers Ansteel Group and Ben Gang has started last week, propelling the new firm to become the third globally after Baowu Group and ArcelorMittal (AMS:MT) amid a wide-ranging consolidation drive within China’s bloated steel sector.
Gazprom Ups 2021 Price Forecast. Russian gas giant Gazprom (MCX:GAZP) has revised its 2021 average European sales price for the third time this year already, hiking it to $270 per Mcm, sending its stock to an all-time high.
Afghanistan Runs Risk of Product Dearth. Following Taliban’s takeover of Afghanistan, product exports to Afghanistan (which doesn’t have a conventional refinery) stopped altogether. Before August most of the 20-25kbpd of products supplied to the country was railed in from the Turkmenbashi Refinery in Turkmenistan, currently only Iran supplies fuel across the border.
Chinese Coking Coal Futures Soar. Coke and coking coal futures on the Dalian Commodity Exchange surged this week amidst rumours of an impending two-week suspension in coal imports from Mongolia, with the latter trading at an all-time high of 3050 yuan per tonne ($470 per tonne).
BP Drills First Exploration Well in Azerbaijan’s SWAP Block. Operating the Shallow Water Absheron Peninsula (SWAP) block offshore Azerbaijan, UK-based major BP (NYSE:BP) spudded the first wildcat in the acreage at the North Khali area in water depths of some 40 meters.
Gold Steady Above the $1,800/oz Mark. Following a surge late last week, gold prices remained above the $1,800 per ounce threshold, back to where they were a month ago, as investors continue to speculate whether the US Federal Reserve would delay tapering or not.
By Tom Kool for Oilprice.com
More Top Reads From Oilprice.com:
Read this article on OilPrice.com
(Bloomberg) — BHP Group and Mitsubishi Corp. will deploy electric pickup trucks and fast-charging units at an Australian coal mine to test technology that could aid the challenging task of cutting the sector’s greenhouse gas emissions.
The BHP Mitsubishi Alliance joint venture, Australia’s top coal producer, will initially use two of Canadian firm Miller Technology Inc.’s Relay trucks to transport workers at the Broadmeadow mine in Queensland. The vehicles — which can be juiced up in about 20 minutes for a 10-hour shift — will be backed by Tritium Pty Ltd. chargers that are adapted for use in harsh mining environments.
Miners are beginning to test out options to replace their vast diesel-powered fleets, including pickups and excavators, with zero-emissions alternatives, a step that could assist in curbing the industry’s sprawling climate footprint. Fortescue Metals Group Ltd. is adding hydrogen fuel-cell buses, while BHP, Vale SA and Rio Tinto Group have challenged suppliers to speed up development of large electric haul trucks.
Eliminating all combustion-engine vehicles at mines would require major investment and only tackle a portion of their pollution. Use of diesel, including by mining equipment, accounts for about 40% of BHP’s so-called scope 1 and 2 greenhouse gas emissions, the company said in its most recent annual climate report.
“The new electric transporters are a major step toward safer and more sustainable underground mining,” BMA President James Palmer said in a statement. The Relay trucks will replace diesel vehicles at the mine, and BMA plans a broader fleet replacement program that will eventually retire its entire diesel fleet.
Brisbane-based charger manufacturer Tritium, which in May reached an agreement to go public via a merger with a special purpose acquisition company, sees further opportunities to supply charging equipment to miners.
Read: Fastest Electric Car Chargers Waiting for Batteries to Catch Up
The industry will need “charging technology that is sealed to protect against sediment, dust and moisture, and rated to operate in harsh conditions,” Jane Hunter, Tritium’s chief executive officer, said in a statement.
BHP is seeking to lower greenhouse gas emissions from its own operations — a small fraction of the total — by almost a third by 2030 and to zero by 2050. The company last week agreed to split off its oil and gas unit to accelerate a retreat from fossil fuels, and is working with customers to reduce emissions.
(Updates with details in third paragraph.)
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P.
In this article, we discuss the 12 stocks Stanley Druckenmiller is selling. If you want to skip our detailed analysis of these stocks, go directly to the Stanley Druckenmiller is Selling These 5 Stocks.
Stanley Druckenmiller, the chief of New York-based Duquesne Capital, is a titan of the investing world with an impressive investing history going back over three decades. His hedge fund manages more than $3.4 billions in assets, according to the latest securities filings released at the end of the second quarter of 2021, with the top ten holdings heavily dominated by large technology companies. The top five holdings alone comprise more than 40% of the portfolio. The hedge fund led by Druckenmiller returned 43% in 2020 and was up 17% by May 2021.
According to business news publication Bloomberg, the net worth of Druckenmiller – which presently stands at around $6.8 billion, per Forbes – has increased by $4.6 billion this year. Druckenmiller has managed to do this with shrewd investments focused in the growth sector. Some of the top holdings in the portfolio of Duquesne Capital at the end of the second quarter of 2021 were Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Alphabet Inc. (NASDAQ: GOOG), among others.
Between March and June this year, Druckenmiller trimmed stakes in five of his top ten holdings. Together, the top five stocks in which his fund slashed stakes in the second quarter now account for around 30% of the portfolio. The billionaire, who rose to prominence on Wall Street by shorting the British pound along with George Soros in the early 1990s, founded his fund in the early 1980s and never had a losing year on record before converting the fund into a family office in 2010.
Druckenmiller has in recent years become the architect of the tech-led disruption that is sweeping the finance world. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
Our Methodology
With this context in mind, here is our list of the 12 stocks Stanley Druckenmiller is selling.
The stocks were ranked according to the investment portfolio of Duquesne Capital at the end of the second quarter of 2021. The percentage declines in the stakes in the second quarter when compared to the filings for the first three months of the year are mentioned alongside each pick.
Stanley Druckenmiller is Selling These Stocks
12. Palo Alto Networks, Inc. (NYSE: PANW)
Number of Hedge Fund Holders: 69
Percentage Decline in Stake in Q2: 2%
Palo Alto Networks, Inc. (NYSE: PANW) is a California-based cybersecurity solutions provider. It is placed twelfth on our list of 12 stocks Stanley Druckenmiller is selling. Duquesne Capital owned 411,015 shares in the company at the end of the second quarter of 2021, representing 4.37% of the portfolio. The shares are worth $152 million. The fund has trimmed stake in the company by 2% compared to the end of the first quarter of the year.
On August 24, investment advisory Truist kept a Buy rating on Palo Alto Networks, Inc. (NYSE: PANW) stock and raised the price target to $475 from $425, noting that the fourth fiscal quarter earnings beat of the company was “impressive”.
Out of the hedge funds being tracked by Insider Monkey, Connecticut-based firm Viking Global is a leading shareholder in Palo Alto Networks, Inc. (NYSE: PANW) with 2.6 million shares worth more than $979 million.
11. Freeport-McMoRan Inc. (NYSE: FCX)
Number of Hedge Fund Holders: 68
Percentage Decline in Stake in Q2: 11%
Freeport-McMoRan Inc. (NYSE: FCX) is an Arizona-based mining company. It is ranked eleventh on our list of 12 stocks Stanley Druckenmiller is selling. Regulatory filings reveal that Duquesne Capital owned over 5.4 million shares in the firm at the end of June 2021, representing 5.82% of the portfolio. The shares are valued at more than more than $202 million. The fund has decreased stake in the firm by 11% compared to the end of March 2021.
On July 23, investment advisory Deutsche Bank maintained a Buy rating on Freeport-McMoRan Inc. (NYSE: FCX) stock and lowered the price target to $47 from $50, noting that the capex would increase as the firm invested in growth projects.
At the end of the second quarter of 2021, 76 hedge funds in the database of Insider Monkey held stakes worth $3.8 billion in Freeport-McMoRan Inc. (NYSE: FCX), up from 68 in the preceding quarter worth $3.2 billion.
10. Reata Pharmaceuticals, Inc. (NASDAQ: RETA)
Number of Hedge Fund Holders: 18
Percentage Decline in Stake in Q2: 16%
Reata Pharmaceuticals, Inc. (NASDAQ: RETA) is placed tenth on our list of 12 stocks Stanley Druckenmiller is selling. The company operates from Texas as a biopharmaceutical firm. Latest data shows that Duquesne Capital owned 637,344 shares in the company at the end of the second quarter of 2021, representing 2.58% of the portfolio. The shares are valued at over $90 million. The fund has trimmed stake in the company by 16% compared to the filings for the first quarter of the year.
On May 24, investment advisory Goldman Sachs initiated coverage of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) stock with a Buy rating and a price target of $236, noting that the advisory was optimistic about the approval of the lead drug of the firm.
At the end of the second quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $305 million in Reata Pharmaceuticals, Inc. (NASDAQ: RETA), down from 24 the preceding quarter worth $266 million.
Unlike Amazon.com, Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG), Reata Pharmaceuticals, Inc. (NASDAQ: RETA) is one of the stocks Stanley Druckenmiller is selling.
9. Teck Resources Limited (NYSE: TECK)
Number of Hedge Fund Holders: 40
Percentage Decline in Stake in Q2: 19%
Teck Resources Limited (NYSE:TECK) is ranked ninth on our list of 12 stocks Stanley Druckenmiller is selling. The company operates from Canada as a mining firm. Duquesne Capital owned over 3.7 million shares in the company at the end of June 2021, representing 2.46% of the portfolio. The shares are valued at more than $85 million. The fund has slashed stake in the company by 19% compared to the end of March.
On July 28, investment advisory Raymond James maintained an Outperform rating on Teck Resources Limited (NYSE:TECK) stock and raised the price target C$37 from C$35. Brian MacArthur, an analyst at the firm, issued the ratings update.
Out of the hedge funds being tracked by Insider Monkey, UK-based investment firm Contrarius Investment Management is a leading shareholder in Teck Resources Limited (NYSE:TECK) with 7.3 million shares worth more than $170 million.
Unlike Amazon.com, Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG), Teck Resources Limited (NYSE:TECK) is one of the stocks Stanley Druckenmiller is selling.
8. T-Mobile US, Inc. (NASDAQ: TMUS)
Number of Hedge Fund Holders: 100
Percentage Decline in Stake in Q2: 19%
T-Mobile US, Inc. (NASDAQ: TMUS) is a Washington-based communication services firm. It is placed eighth on our list of 12 stocks Stanley Druckenmiller is selling. Regulatory filings reveal that Duquesne Capital owned more than 1.2 million shares in the firm at the end of June 2021, representing 5.36% of the portfolio. The shares are worth over $186 million. The fund has decreased stake in the company by 19% compared to the filings for the first quarter.
On August 2, investment advisory Deutsche Bank reiterated a Buy rating on T-Mobile US, Inc. (NASDAQ: TMUS) stock and raised the price target to $195 from $188, appreciating the “solid” second quarter earnings of the company.
Out of the hedge funds being tracked by Insider Monkey, Greenwich-based investment firm Viking Global is a leading shareholder in T-Mobile US, Inc. (NASDAQ: TMUS) with 7.5 million shares worth more than $1 billion.
Unlike Amazon.com, Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG), T-Mobile US, Inc. (NASDAQ: TMUS) is one of the stocks Stanley Druckenmiller is selling.
7. Microsoft Corporation (NASDAQ: MSFT)
Number of Hedge Fund Holders: 238
Percentage Decline in Stake in Q2: 30%
Microsoft Corporation (NASDAQ: MSFT) is a Washington-based technology company. It is ranked seventh on our list of 12 stocks Stanley Druckenmiller is selling. Latest data shows that Duquesne Capital owned over 1.5 million shares in the company at the end of the first quarter of 2021, representing 11.72% of the portfolio. The shares are worth $408 million. The fund has trimmed stake in the company by 30% compared to the end of March 2021.
On August 20, investment advisory Wedbush maintained a Buy rating on Microsoft Corporation (NASDAQ: MSFT) stock and raised the price target to $350 from $325, noting the improved confidence in the growth for the firm in the next two years as it increased commercial price for the Microsoft 365.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ: MSFT) with 24.8 million shares worth more than $6.7 billion.
Unlike Amazon.com, Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG), Microsoft Corporation (NASDAQ: MSFT) is one of the stocks Stanley Druckenmiller is selling.
In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ: MSFT) was one of them. Here is what the fund said:
“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”
6. Palantir Technologies Inc. (NYSE: PLTR)
Number of Hedge Fund Holders: 26
Percentage Decline in Stake in Q2: 33%
Palantir Technologies Inc. (NYSE: PLTR) is placed sixth on our list of 12 stocks Stanley Druckenmiller is selling. The firm is based in Colorado and markets software products for intelligence purposes. According to the latest filings, Duquesne Capital owned over 4 million shares in Palantir Technologies Inc. (NYSE: PLTR) at the end of June 2021, representing 3.03% of the portfolio. The shares are valued at over $105 million. The fund has trimmed stake in Palantir Technologies Inc. (NYSE: PLTR) by 33% compared to the end of the first quarter of the year.
On August 13, investment advisory Wolfe Research maintained a Peer Perform rating on Palantir Technologies Inc. (NYSE: PLTR) stock and raised the price target to $25 from $20, appreciating the solid second quarter earnings report by the company.
At the end of the second quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Palantir Technologies Inc. (NYSE: PLTR), down from 32 in the preceding quarter worth $1.1 billion.
Unlike Amazon.com, Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG), Palantir Technologies Inc. (NYSE: PLTR) is one of the stocks Stanley Druckenmiller is selling.
In its Q4 2020 investor letter, Guardian Fund, an asset management firm, highlighted a few stocks andPalantir Technologies Inc. (NYSE: PLTR) was one of them. Here is what the fund said:
“In October, we bought a stake in Palantir. Earlier, in June, our concentrated Tech Fund, which has a mandate to also buy shares in the secondary market, bought shares of Palantir from insiders, before the direct listing. At the price we bought, the equity had much more upside than downside. Palantir is operating a software platform that functions as the digital infrastructure for data-driven operations and decision making. The software helps to structure and capture context in data of large corporations. Governments are increasingly realizing that they have to deal with serious data challenges and cyber risk. As most governments cannot attract the most talented software engineers, they need private enterprises such as Palantir to help them build solid infrastructure. Foundry, Palantir’s software for enterprises, is used by companiesto make safer cars and airplanes or to accelerate cancer research. The speed to bring new clients on board is improving and revenues will grow faster than expenses. Palantir has a long runway of growth ahead.”
Click to continue reading and see Stanley Druckenmiller is Selling These 5 Stocks.
Suggested Articles:
Disclosure. None. Stanley Druckenmiller is Selling These 12 Stocks is originally published on Insider Monkey.
VANCOUVER, BC, Aug. 24, 2021 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the "Company") has expanded its surface exploration program, in addition to the ongoing drilling and targeting of Revel Ridge Main (RRMZ) and Yellowjacket Zones (RRYZ).
Highlights of exploration activity over the past 90 days include:
-
The collection of approximately 850 soil samples collected along 6 km of strike of the RRMZ and RRYZ. Interpretation of the soil geochemical data indicates the mineralized trends have a strike length which exceeds 8 km. Rokmaster is conducting additional soil geochemical surveys over portions of the highly prospective A&E trend located 1.8 km to the northeast of the RRMZ (Soil Geochemistry Compilation Maps – South Extension and North Extension).
-
See the Soil Geochemistry Compilation Map on Rokmaster's website).
-
Completing 33 surface drillholes totaling approximately 7,800 m of NQ core, testing the northwestern strike extension of the RRMZ, RRYZ, and A&E zones on surface over strike lengths exceeding 3 km (Longitudinal Section Graphic). The results of DDH's RR21-41 to RR-21-47 have previously been released (Rokmaster News Release, July 16, 2021). Results from additional drillholes are pending.
-
Rock sampling and prospecting along the A&E trend, located 1.8 km to the northeast of the RRMZ, resulting in new discoveries of massive to semi-massive polymetallic sulphides forming near the footwall of the Badshot limestone. These sulphide rich zones and the structure which hosts them have been traced over a strike distance of at least 525 m. The initial drill testing of the A&E Zone will be completed by the end of August 2021 .
-
To assess the regional scale potential of mineral occurrences and stratigraphy distant to the better-known mineralized trends, Rokmaster collected a series of 62 stream sediment samples over an area of 144 square km. This work has also been done in conjunction with regional prospecting and rock sampling programs. These surveys are designed to evaluate, at a reconnaissance scale, the mineral potential for gold and base metal occurrences in the Cambrian and older rocks which host numerous gold and base metal occurrences within the district.
-
Completion of a Lidar survey flown over an area of 26 square km. The Lidar survey will provide Rokmaster's engineers and geoscientists with a precision digital elevation model to facilitate advanced engineering and mine planning studies.
-
Initiation of a detailed environmental audit compiled by an independent third party. The audit establishes water quality, fish, and wildlife habitat baselines and begins to map terrestrial ecosystems. Preliminary results of the data of these surveys identities no significant environmental or ecosystem impacts from Rokmaster's 2020 and 2021 exploration programs.
-
Ongoing metallurgical studies of RRMZ gold enhanced sulphides utilizing the expertise of three metallurgical labs. Rokmaster's metallurgical programs utilize gold liberation through pressure oxidation of gold rich sulphide phases. The initial metallurgical studies have been successful in enhancing the grade of gold in sulphide rich concentrates, and in decreasing the volume of concentrate to be treated by pressure oxidation. Preliminary data of pressure oxidation of the Revel Ridge gold enriched sulphides suggests gold recoveries exceeding 90%. Fine tuning of the initial metallurgical processes will potentially result in even higher gold recoveries.
-
Recent engagement of P&E Mining Consultants Ltd. to develop an updated 43-101 compliant resource for Revel Ridge. The resource update will integrate the results of approximately 73 surface and underground drillholes, totaling more than 24,000 of NQ drilling. Rokmaster anticipates that the updated 43-101 resource will be completed by Q4 2021. Even prior to initiating this resource update, Revel Ridge remains one of British Columbia's largest undeveloped gold rich polymetallic deposits with 4.2 Mt/ containing 1.089 million ounces of 8.07 g/t AuEq (RRMZ M&I) and 4.56 Mt containing 0.961 million ounces of 6.55 g/t AuEq (RRMZ Inf., Putrich et al., 2020, and filed on Sedar). Rokmaster anticipates that the strongly positive results obtained from the 2020 and 2021 underground and surface drill programs will result in a significantly enhanced Revel Ridge resource.
John Mirko, President and CEO of Rokmaster commented, "In the past 12 months the Rokmaster team has undertaken and completed an impressive scope of drilling, geological, geochemical and metallurgical programs at Revel Ridge. This includes the successful completion of 24,000 m of drilling and related exploration activities executed in the middle of the COVID-19 pandemic. The positive outcomes of these programs has enabled Rokmaster well positioned to develop a revised and upgraded 43-101 resource, to continue both surface and underground drill programs, and to further advance the Revel Ridge deposit to a production decision."
Maps and Figures
Soil Geochemistry Compilation Map (South Extension)
Soil Geochemistry Compilation Map (North Extension)
Quality Assurance/Quality Control. Dr. Jim Oliver, P. Geo. supervised all aspects of the drilling and sampling undertaken in the 2021 underground and surface diamond drill program. All samples have been collected from ½ NQ core, sawn with a diamond saw with the sample intervals marked by technical personnel. A full QAQC program using blanks, standards and duplicates was utilized to monitor analytical accuracy and precision. The samples were sealed on site and shipped to MSA Labs in Langley, British Columbia. MSA is an ISO 17025 (Testing and Calibration Laboratory) and an ISO 9001 (Quality Management System) Certified Laboratory. Core samples were crushed to 2 mm and a 500 gram sub sample was pulverized with 85% of the sample passing 75 microns. The sub sample was analysed using a combination of MSA Labs FAS211 for Au and ICP–240 (4 acid digestion) for silver, base metals and other trace elements. FAS211 for gold is an ore grade fire assay of a 50 g pulp with an AAS finish with a detection range between 0.01 and 100 ppm). ICP-240 utilizes four acid digestion and provides ore grade analytical data on silver, base metals and 26 other elements. A modified QAQC program has also been used to validate surface soil and rock sample prospecting programs.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Mark Rebagliati, P. Eng., FEC, who is independent of Rokmaster.
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
John Mirko,
President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
About Rokmaster
Rokmaster controls a portfolio of three significant exploration and development projects all of which are located in southern British Columbia in regions of excellent infrastructure. The three projects include:
-
Revel Ridge. Rokmaster is currently conducting an underground drill program at the Revel Ridge project located in southeastern British Columbia 35 km's N of the City of Revelstoke. Revel Ridge is a high-grade gold and polymetallic orogenic sulphide deposit which has been the subject of a PEA Technical Report dated December 8, 2020.
-
Big Copper. Rokmaster controls the Big Copper property in the Creston area of Southern British Columbia. Big Copper is a high-grade copper-silver occurrence hosted in mid-Proterozoic rocks. Copper-silver mineralization has been traced for 3 km along strike and is exposed in a series of adits and trenches over approximately 250- 300 m of vertical relief. Big Copper likely belongs to a class of stratabound replacement copper-silver deposits hosted within mid – Proterozoic quartzitic sediments. The style and stratigraphic setting of mineralization at Big Copper may be analogous to similar stratabound silver-copper deposits in NW Montana e.g. the Troy mine (64 million tonnes of 0.74% Cu and 54 g/t Ag (Western Mining History, 2020) or Hecla's Montanore Mine, 112 million tonnes at 51.2 g/t Ag and 0.7% Cu. (Hecla website link).
-
Duncan Zinc. Duncan is a carbonate hosted silver-lead-zinc deposit located near Duncan Lake in southern British Columbia. The deposit is hosted within a Cambrian age Badshot Limestone which also hosts Ag-Pb-Zn mineralization at Teck's currently producing Pend D'Oreille mine as well as past producers including the Blue Bell Mine, Reeves MacDonald, Jersey-Emerald and HB mines. Mineralization at Duncan Lake forms in the crest and limbs of the regional scale Duncan Lake anticline, where strong lead-zinc +/- silver mineralization has been traced by surface and underground drilling for approximately 2500 m. At Duncan Lake, Rokmaster will be targeting > 30 Mt of >10% Pb+Zn+Ag. Historical background and a geological synthesis of the Duncan Lake deposit is provided in a NI 43-101 report by Lane, B., 2018: Technical Report on the Duncan Lake Project.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
SOURCE Rokmaster Resources Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/24/c1427.html
VANCOUVER, BC, Aug. 24, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") is pleased to announce the commencement of the Induced Polarization ("IP") geophysical survey over the Equity East and Allin Zone areas of anomalous soil and rock geochemistry as part of the 2021 Silver Hope project exploration program.
The IP program will initially cover the 3.5 by 3.5 kilometer ("km") area of the Equity East and Allin Zones multi-element soil and rock geochemistry anomalies with four 1km spaced East-West lines, plus one North-South line specifically targeting the mafic intrusive rocks and along the contact with the Skeena Group volcanic rocks. This initial work will also cover ZTEM and magnetic airborne geophysical targets, as well as a historical north-south oriented IP target immediately west of the Allin Zone. (CLICK HERE to see the map displaying the proposed 2021 IP lines, ZTEM, Ag soil anomalies, underlying geology, and anomalous float samples). The initial IP program will total approximately 24 line-km; plus an extra 6 line-km of planned detailed surveys over promising results.
Along with the IP survey, Finlay geologists will focus on detailed mapping and sampling, and Terraspec alteration studies in the Equity East and Allin Zone areas to build a comprehensive geological foundation for target definition and future drill testing.
The overall goal for the Company's 2021 exploration program is to leverage new data with the data compilation of the past 50 years of exploration work in the search for further Equity Silver-type (open-pittable Au, Cu, Ag) and intrusive-hosted porphyry Cu – Molybdenum ("Mo") – Au deposits.
Robert F. Brown, President & CEO of Finlay states:
"The IP geophysical survey work over the Equity East and Allin Zones has commenced and is expected to be completed in about 3 weeks. The IP data will be interpreted and compiled with previous geological, geophysical and geochemical data to derive a set of drill targets.
The September core drilling program will focus on three (3) areas along the MAIN Trend targeting thicker and well-mineralized zones from previous drilling along the plunge of the Skeena Group tuff bedding and fracture-controlled mineralization. Focus will be to develop open-pittable mineralization at less than 100m depth."
Equity East and Allin Zones Geological Synopsis:
The Equity East and Allin multi-element anomalies coincide with a large magnetic high feature directly east of the former Equity Silver Mine as well as a prominent 5km long, NNE trending airborne ZTEM geophysical anomaly, similar to the one reflecting the MAIN Trend (Finlay) and the former Equity Silver Mine. (CLICK HERE to see the map showing the multi-element anomaly overlaying the airborne magnetics).
The Equity Silver Mine is thought to be partially formed by the Goosly Lake Intrusive Suite which is mostly present within the Silver Hope Property. During the upheaval process of the Goosly Lake Intrusive Suite, fracturing, brecciation and alteration of the host rock allowed for the concentration and precipitation of silver and copper mineralization. Several surface geochemical anomalies that include silver are located on the mapped boundary of the Goosly Intrusive Suite. The Allin Zone target on the eastern side of the Goosly Intrusive Suite hosts a signicant target with a silver in soil geochemical anomaly plus several mineralized float samples with silver values as high as 136g/t, gold values as high as 2.61g/t and copper values as high as 1.26% (Reference: BC Assessment Report # 860515: https://propertyfile.gov.bc.ca/showDocument.aspx?docid=3843).
The Allin Zone is also host to a large and open high chargeability and high resistivity anomaly as seen in the above map. The anomaly strikes north-south, has a minimum length of 1800m, and is open to the north, south and west. An IP survey was conducted in 1986 by Geotronic Surveys Ltd. (Reference: BC Mineral Assessment report # 16032.) The Allin Zone was tested with 19 shallow drillholes within the years 1987, 1993 and 1997, with the drill holes targeting well east and southeast of the chargeability and resistivity anomalies.
Initial mineral deposition was caused by a deeper magma and caused mineralized veins as those seen at the Southern Tail, Hope, Superstition and Gaul Zones as well as the porphyry Cu-Mo mineralized quartz monzonite intrusions on the Silver Hope and Equity Silver properties. Further potential exists for a mineralized porphyry system within and around the Goosly Intrusive Suite. The Company's planned deep-penetrating IP survey along with detailed mapping and Terraspec alteration studies will help vector to a possible Equity Silver-type target or a mineralized porphyry system.
Up-Coming 2021 Silver Hope Core Drilling:
In late September, a 2,000m oriented-core drilling program will commence over the Gaul, Superstition and Hope Zones (the MAIN Trend). The drilling will be re-oriented, taking into consideration the findings of the initial oriented-core drilling program at the Gaul Zone in late 2020. Namely, mineralization and dikes strike northeasterly and dip moderately northwest; there is continuity of mineralized zones between sections; mineralization is hosted by volcanic felsic tuffs associated with fractures, veining, and brecciation with footwall intrusive dikes – a common theme throughout the 2020 drill program. The plunge of the mineralization and the stratigraphy (bedding) is 250/20. Drilling will target mineralization in the more susceptible tuff beds, respecting the plunge and focussing on mineralization at less than 100m depth. Finlay is initially targeting five (5) zones of open pittable Ag-Cu-Au mineralization.
Qualified Person:
Wade Barnes, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
About Finlay Minerals Ltd.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. Finlay recently completed a financing of $1 million flow-through, and $1.64 million in non-flow-through funds.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details please visit the Company's website at: www.finlayminerals.com.
On behalf of the Board of Directors,
Robert F. Brown, P. Eng.,
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Company's Silver Hope Property. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE Finlay Minerals Ltd.
View original content: http://www.newswire.ca/en/releases/archive/August2021/24/c8348.html
CLEVELAND, August 24, 2021–(BUSINESS WIRE)–Cleveland-Cliffs Inc. (NYSE: CLF) today announced the results of its COVID-19 Vaccination Incentive Program.
In July, the Company launched a vaccine incentive program that it developed in partnership with its labor unions, including the United Steelworkers, the United Autoworkers, and the International Association of Machinists. The intent of the Program was to protect the workforce by providing employees with a positive incentive to get vaccinated. Under the Program, the Company committed to pay an employee at least $1,500 to receive a COVID-19 vaccine. For employees at locations with a vaccination rate of 75%, then the Company committed to pay an additional $1,500 to vaccinated employees from that location, representing a total opportunity of $3,000 per employee.
The Company achieved a total vaccination rate of 75%, or nearly 19,000 employees out of its workforce of approximately 25,000 employees. Also, 27 of the Company’s 43 locations achieved a vaccination rate of at least 75%. When the program was launched in July, the Company-wide vaccination rate was 35%, or only approximately 9,000 employees. In the 45 days the Program was in place, the vaccination rate more than doubled, achieving numbers way ahead the vaccination rates of the local communities where the facilities are located, and also significantly ahead of the national vaccination rates.
Lourenco Goncalves, Chairman, President, and CEO said, "I am delighted with the success of our vaccine incentive program. I appreciate the support of our local managers and union partners in making herd immunity a reality at the majority of our locations." Mr. Goncalves added: "I implore both my steel producing peers and all other companies who have not already done so to implement similar programs, in order to defeat this nasty virus in our country once and for all."
Other highlights include:
-
Indiana Harbor, the Company’s largest facility and the largest steel operation in the United States, achieved a vaccination rate of 78%, compared to its location’s county rate of 43%.
-
Middletown Works in Middletown, Ohio achieved a vaccination rate of 75%, compared to its location’s county rate of 46%.
-
United Taconite in Eveleth, MN achieved a vaccination rate of 75%, compared to its location’s county rate of 55%.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling, and tubing. The Company serves a diverse range of markets due to its comprehensive offering of flat-rolled steel products and is the largest supplier of steel to the automotive industry in North America. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada. For more information, visit www.clevelandcliffs.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210824005845/en/
Contacts
MEDIA CONTACT:
Patricia Persico
Director, Corporate Communications
(216) 694-5316
INVESTOR CONTACT:
Paul Finan
Vice President, Investor Relations
(216) 694-6544
Vancouver, British Columbia–(Newsfile Corp. – August 23, 2021) – – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company", or "EMX") is pleased to announce that it has completed the initial closing under the recently announced agreement to acquire an effective 0.418% Net Smelter Return ("NSR") royalty on the operating Caserones Copper-Molybdenum Mine (the "Caserones Royalty") located in northern Chile for US$34.1 million in cash (see EMX news release dated August 17, 2021).
As previously reported, EMX has formed a 50%-50% partnership with Altus Strategies Plc ("Altus") (AIM: ALS) (TSXV: ALTS) (OTCQX: ALTUF) to acquire an effective 0.836% NSR royalty for US$68.2 million. EMX and Altus will each control an effective 0.418% royalty interest and will each be responsible for US$34.1 million of the purchase price. EMX and Altus have formed a Chilean company, Minera Tercero, Spa ("Tercero"), of which EMX and Altus each own 50%. Tercero has agreed to purchase 43% of the issued and outstanding shares of an underlying royalty holder, Sociedad Legal Minera California Una de la Sierra Peña Negra ("SLM California"), through a Share Purchase Agreement with 16 shareholders of SLM California to acquire ownership of 43% of SLM California's issued and outstanding shares, and thereby indirect ownership of 43% of SLM California's 1.944% NSR royalty interest in the Caserones property (i.e., a 0.836% NSR royalty interest, held as to 0.418% by EMX and 0.418% by Altus).
Under the initial closing today, Tercero has acquired 33% of SLM California for US$52.3 million. Sale of the remaining 10% of the shares of SLM California is anticipated to close by September 1, 2021.
The acquisition of the Caserones Royalty is expected to provide immediate enhancement to EMX's royalty cash flow and to secure long-term proceeds from copper and molybdenum production in one of the world's top mining regions. This transaction nicely compliments the Company's growing portfolio of royalty interests in South America, which has become a recent emphasis in the Company's growth strategy.
Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious, base and battery metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX"; 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-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the second closing of the Caserones royalty purchase, , expected cash flows from EMX's interest in the Caserones royalty, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential", "upside" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: failure of the vendors under the Share Purchase Agreement to perform their obligations, fluctuations in or problems with production from the Caserones mine, unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the "MD&A"), and the most recently filed Revised Annual Information Form (the "AIF") for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC's EDGAR website at www.sec.gov.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93952
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company to watch right now is VALE S.A. (VALE). VALE is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 3.37, which compares to its industry's average of 3.41. Over the last 12 months, VALE's Forward P/E has been as high as 6.83 and as low as 3.37, with a median of 4.90.
Investors should also recognize that VALE has a P/B ratio of 2.19. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.21. Over the past year, VALE's P/B has been as high as 3.30 and as low as 1.60, with a median of 2.57.
Finally, investors should note that VALE has a P/CF ratio of 7.86. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. VALE's P/CF compares to its industry's average P/CF of 7.92. VALE's P/CF has been as high as 14.18 and as low as 6.25, with a median of 10.53, all within the past year.
These are just a handful of the figures considered in VALE S.A.'s great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that VALE is an impressive value stock right now.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
VALE S.A. (VALE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. And in light of that, the trends we're seeing at Metals Exploration's (LON:MTL) look very promising so lets take a look.
Return On Capital Employed (ROCE): What is it?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. Analysts use this formula to calculate it for Metals Exploration:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)
0.30 = US$30m ÷ (US$144m – US$41m) (Based on the trailing twelve months to December 2020).
Thus, Metals Exploration has an ROCE of 30%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 19%.
View our latest analysis for Metals Exploration
In the above chart we have measured Metals Exploration's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Metals Exploration.
What Can We Tell From Metals Exploration's ROCE Trend?
Metals Exploration has not disappointed in regards to ROCE growth. The data shows that returns on capital have increased by 1,221% over the trailing five years. That's a very favorable trend because this means that the company is earning more per dollar of capital that's being employed. Interestingly, the business may be becoming more efficient because it's applying 55% less capital than it was five years ago. Metals Exploration may be selling some assets so it's worth investigating if the business has plans for future investments to increase returns further still.
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. The current liabilities has increased to 29% of total assets, so the business is now more funded by the likes of its suppliers or short-term creditors. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.
The Key Takeaway
In summary, it's great to see that Metals Exploration has been able to turn things around and earn higher returns on lower amounts of capital. And since the stock has dived 80% over the last five years, there may be other factors affecting the company's prospects. Regardless, we think the underlying fundamentals warrant this stock for further investigation.
One final note, you should learn about the 6 warning signs we've spotted with Metals Exploration (including 2 which shouldn't be ignored) .
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
Ternium S.A. TX recently signed a memorandum of understanding (“MoU”) with Vale S.A., wherein the parties agreed to develop steelmaking solutions directed toward reduction of CO2 emissions.
Ternium and Vale plan to develop economic feasibility studies of potential investments in an iron ore briquetting plant located at Ternium’s Brazil facility. It also intends to invest in plants to produce metallic products with low carbon footprint, using Tecnored, HYL and other technologies for iron reduction.
This move will help Vale achieve its commitment to reduce 15% of net scope 3 emissions by 2035. Moreover, Vale intends to lower absolute scope 1 and 2 emissions by 33% by 2030 and achieve neutrality by 2050. The plan is in-sync with the Paris Agreement, which will lead toward low carbon mining.
Ternium also noted that the signing of the MoU is an important step in its decarbonization strategy. This will help the company achieve its commitment to reduce 20% of its CO2 emission intensity by 2030.
Shares of Ternium have surged 200.5% in the past year compared with 123.2% rise of the industry.
Image Source: Zacks Investment Research
Ternium, in its last earnings call, stated that it expects continued strong performance throughout the balance of 2021. This is primarily due to the strong global steel market environment. The company forecasts EBITDA to increase sequentially in the third quarter, with rise in margins and higher volumes.
The realized steel prices in the third quarter are likely to keep rising in all regions, partly offset by higher cost per ton led by increasing raw material costs, gradually flowing through the company’s inventories.
Ternium S.A. Price and Consensus
Ternium S.A. price-consensus-chart | Ternium S.A. Quote
Zacks Rank & Other Key Picks
Ternium currently flaunts a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Nucor Corporation NUE, Dow Inc. DOW and Cabot Corporation CBT.
Nucor has a projected earnings growth rate of around 489.2% for the current year. The company’s shares have surged 153% in a year. It currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 32% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 32% in the past year. It currently holds a Zacks Rank #2 (Buy).
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
Nucor Corporation (NUE) : Free Stock Analysis Report
Dow Inc. (DOW) : Free Stock Analysis Report
Ternium S.A. (TX) : Free Stock Analysis Report
Cabot Corporation (CBT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
These are the materials stocks with the best value, fastest growth, and most momentum for September 2021.
Not for dissemination in the United States or for distribution to U.S. Newswire Services
VANCOUVER, British Columbia, Aug. 23, 2021 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper” or the “Company”) is pleased to announce that the Company has arranged to carry out a non-brokered private placement (the “Private Placement” or “Financing”) to raise gross proceeds of approximately Cdn $1,100,000 with two subscribers.
The Financing is to be 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").
The Private Placement comprises the sale of 8,800,000 common shares of the Company (the “Shares”) at a price of Cdn$0.125 to raise gross proceeds of Cdn $1,100,000. The Shares will be subject to a statutory 4 month and one day hold period commencing the day of closing of the Private Placement. 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.
“We are very pleased to have both Fortescue and Lind supporting Candente Copper and the Cañariaco project to unlock value for shareholders. Upon completion of the Private Placement, we will be 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 in their Desk Top Study. The Financing will also allow us to 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 will increase its interest in the Company from 18.9% to 19.9% on completion of this Private Placement.
The Private Placement is subject to Candente Copper’s completion of its final filings with the Toronto Stock Exchange and is expected to close later this week.
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-135
Every investor in Wallbridge Mining Company Limited (TSE:WM) should be aware of the most powerful shareholder groups. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.
Wallbridge Mining is a smaller company with a market capitalization of CA$482m, so it may still be flying under the radar of many institutional investors. In the chart below, we can see that institutions own shares in the company. Let's take a closer look to see what the different types of shareholders can tell us about Wallbridge Mining.
View our latest analysis for Wallbridge Mining
What Does The Institutional Ownership Tell Us About Wallbridge Mining?
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
We can see that Wallbridge Mining does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Wallbridge Mining, (below). Of course, keep in mind that there are other factors to consider, too.
Hedge funds don't have many shares in Wallbridge Mining. Our data shows that Eric Sprott is the largest shareholder with 20% of shares outstanding. In comparison, the second and third largest shareholders hold about 7.0% and 6.1% of the stock.
Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.
Insider Ownership Of Wallbridge Mining
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.
Our information suggests that insiders maintain a significant holding in Wallbridge Mining Company Limited. It has a market capitalization of just CA$482m, and insiders have CA$102m worth of shares in their own names. I would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling.
General Public Ownership
The general public — including retail investors — own 55% of Wallbridge Mining. With this amount of ownership, retail investors can collectively play a role in decisions that affect shareholder returns, such as dividend policies and the appointment of directors. They can also exercise the power to vote on acquisitions or mergers that may not improve profitability.
Private Company Ownership
It seems that Private Companies own 7.0%, of the Wallbridge Mining stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.
Public Company Ownership
We can see that public companies hold 7.0% of the Wallbridge Mining shares on issue. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership.
Next Steps:
While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should learn about the 2 warning signs we've spotted with Wallbridge Mining (including 1 which doesn't sit too well with us) .
Ultimately the future is most important. You can access this free report on analyst forecasts for the company.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
A look at the shareholders of Horizonte Minerals Plc (LON:HZM) can tell us which group is most powerful. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. We also tend to see lower insider ownership in companies that were previously publicly owned.
With a market capitalization of UK£116m, Horizonte Minerals is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. Let's take a closer look to see what the different types of shareholders can tell us about Horizonte Minerals.
Check out our latest analysis for Horizonte Minerals
What Does The Institutional Ownership Tell Us About Horizonte Minerals?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
We can see that Horizonte Minerals does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Horizonte Minerals' earnings history below. Of course, the future is what really matters.
Horizonte Minerals is not owned by hedge funds. Teck Resources Limited is currently the company's largest shareholder with 12% of shares outstanding. Hargreave Hale Limited, Asset Management Arm is the second largest shareholder owning 9.9% of common stock, and A J Bell Holdings Limited, Asset Management Arm holds about 5.2% of the company stock.
After doing some more digging, we found that the top 14 have the combined ownership of 51% in the company, suggesting that no single shareholder has significant control over the company.
Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
Insider Ownership Of Horizonte Minerals
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.
Our information suggests that Horizonte Minerals Plc insiders own under 1% of the company. It appears that the board holds about UK£636k worth of stock. This compares to a market capitalization of UK£116m. Many tend to prefer to see a board with bigger shareholdings. A good next step might be to take a look at this free summary of insider buying and selling.
General Public Ownership
With a 42% ownership, the general public have some degree of sway over Horizonte Minerals. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
Public Company Ownership
Public companies currently own 18% of Horizonte Minerals stock. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further.
Next Steps:
It's always worth thinking about the different groups who own shares in a company. But to understand Horizonte Minerals better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 3 warning signs with Horizonte Minerals (at least 1 which is significant) , and understanding them should be part of your investment process.
If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
A look at the shareholders of Aurelia Metals Limited (ASX:AMI) can tell us which group is most powerful. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Companies that used to be publicly owned tend to have lower insider ownership.
Aurelia Metals is not a large company by global standards. It has a market capitalization of AU$414m, which means it wouldn't have the attention of many institutional investors. In the chart below, we can see that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about Aurelia Metals.
See our latest analysis for Aurelia Metals
What Does The Institutional Ownership Tell Us About Aurelia Metals?
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
Aurelia Metals already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Aurelia Metals' historic earnings and revenue below, but keep in mind there's always more to the story.
We note that hedge funds don't have a meaningful investment in Aurelia Metals. Eley Griffiths Group Pty Limited is currently the largest shareholder, with 5.3% of shares outstanding. With 5.0% and 4.8% of the shares outstanding respectively, Van Eck Associates Corporation and Perennial Value Management Limited are the second and third largest shareholders.
A deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There is some analyst coverage of the stock, but it could still become more well known, with time.
Insider Ownership Of Aurelia Metals
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
We can see that insiders own shares in Aurelia Metals Limited. It has a market capitalization of just AU$414m, and insiders have AU$14m worth of shares, in their own names. Some would say this shows alignment of interests between shareholders and the board. But it might be worth checking if those insiders have been selling.
General Public Ownership
The general public holds a substantial 53% stake in Aurelia Metals, suggesting it is a fairly popular stock. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.
Next Steps:
While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should be aware of the 4 warning signs we've spotted with Aurelia Metals .
But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
Cleaning up one of the world’s dirtiest industries is key to hitting global climate goals, but decarbonizing looks to be costly for companies.
Mincor Resources NL (ASX:MCR) is possibly approaching a major achievement in its business, so we would like to shine some light on the company. Mincor Resources NL engages in the exploration, development, and mining of mineral resources in Australia. With the latest financial year loss of AU$14m and a trailing-twelve-month loss of AU$13m, the AU$536m market-cap company alleviated its loss by moving closer towards its target of breakeven. The most pressing concern for investors is Mincor Resources' path to profitability – when will it breakeven? We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate.
Check out our latest analysis for Mincor Resources
Mincor Resources is bordering on breakeven, according to the 3 Australian Metals and Mining analysts. They anticipate the company to incur a final loss in 2021, before generating positive profits of AU$21m in 2022. Therefore, the company is expected to breakeven just over a year from now. In order to meet this breakeven date, we calculated the rate at which the company must grow year-on-year. It turns out an average annual growth rate of 55% is expected, which is rather optimistic! Should the business grow at a slower rate, it will become profitable at a later date than expected.
Given this is a high-level overview, we won’t go into details of Mincor Resources' upcoming projects, though, keep in mind that by and large a metal and mining business has lumpy cash flows which are contingent on the natural resource mined and stage at which the company is operating. So, a high growth rate is not out of the ordinary, particularly when a company is in a period of investment.
Before we wrap up, there’s one aspect worth mentioning. Mincor Resources currently has no debt on its balance sheet, which is quite unusual for a cash-burning metals and mining company, which typically has high debt relative to its equity. The company currently operates purely off its shareholder funding and has no debt obligation, reducing concerns around repayments and making it a less risky investment.
Next Steps:
There are key fundamentals of Mincor Resources which are not covered in this article, but we must stress again that this is merely a basic overview. For a more comprehensive look at Mincor Resources, take a look at Mincor Resources' company page on Simply Wall St. We've also compiled a list of pertinent factors you should look at:
-
Valuation: What is Mincor Resources worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Mincor Resources is currently mispriced by the market.
-
Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Mincor Resources’s board and the CEO’s background.
-
Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
Vancouver, British Columbia–(Newsfile Corp. – August 20, 2021) – Investmentpitch Media video features Globex Mining Enterprises (TSX: GMX) (OTCQX: GLBXF) ( FSE: G1MN), an exploration and holding company with a large portfolio of assets. With an extensive portfolio of more than 200 exploration property assets and royalties covering precious, base and specialty metals, Globex gives investors diversification by investing in just one company.
For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Globex" in the search box.
Cannot view this video? Visit:
http://www.investmentpitch.com/video/1_az81wjzc/Investmentpitch-Medias-feature-company-is-Globex-Mining-Enterprises-TSXGMX-OTCQXGLBXF-FSEG1MN-an-exploration-and-holding-company-with-a-large-portfolio-of-assets
Projects range from advanced exploration to pre-feasibility, with royalties attached to more than 50 early to advanced stage properties for gold, base metals and industrial minerals. The advanced stage projects include more than 40 former mines with more than 50 properties having historic or NI 43-101 resources.
By having a diversified portfolio covering various commodities, Globex can capitalize on current interest in the market for a specific commodity, and given the company's transaction activity, investors can be assured of a steady flow of news.
The company's experienced management, and professional board, has an impressive track record of conserving capital and limiting dilution by finding partners to fund the high-risk, more expensive exploration and development of projects, while building shareholder value through the receipt of short-term payments and long-term royalties.
The shares are currently trading at $1.15, and based on approximately 55.3 million shares outstanding, the company is capitalized at approximately $63.6 million. The company's portfolio of more than $30 million in cash and shares of other companies alone is valued at approximately $0.54 per share, with no debt.
Furthermore, Globex has a normal course issuer bid in place to repurchase up to 1 million shares.
Except for one significant silver project in Germany, which is under option to Excellon Resources, the company is focused on North America, a region with low political risk.
Let's look at a couple of the company's significant recent activities. The company just closed the sale of its Mid-Tennessee Zinc Mine royalty to an assignee of Electric Royalties for $13,750,000, 8,752,860 shares of Electric Royalties, and 5,348,970 warrants of Electric Royalties, making Globex the largest shareholder of Electric Royalties.
In June, Globex sold some projects in Quebec to Yamana Gold, for $15 million, retaining a 2% gross metal royalty. Globex received an initial payment of $4 million which Globex elected to take in shares, with the balance of $11 million, which Globex may also elect to receive in shares, to be received over 4 years.
For more information, please visit the company's website www.GlobexMining.com, contact Jack Stoch, P.Geo., President and CEO, at 819-979-5242 or email info@GlobexMining.com.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93843
(Bloomberg) — Women still face a threat to their safety at remote mine sites across the globe.
It’s a challenge the industry is grappling with after BHP Group, the world’s biggest miner, lifted the lid on a male-dominated culture in which sexual harassment is rife.
The company has fired 48 workers at its sites in Western Australia since July 2019 after verifying allegations of harassment, BHP said in a submission to a state inquiry. The Melbourne-based company said it had also received two substantiated allegations of rape, with further cases still under investigation. Rio Tinto Group, in its submission, said it had received 29 confirmed reports of harassment at its Pilbara iron ore operations since Jan. 2020 and one case of sexual assault.
While harassment is a problem in workplaces around the world, isolated mines can be especially risky for women. They remain largely male-dominated, with fly-in, fly-out (FIFO) workers living in camp-style accommodation that blurs the line between work and social life. Add excessive alcohol consumption into the mix, and inappropriate behavior often follows.
“Mining was made by and for men,” Fiona Vines, BHP’s head of diversity and inclusion, said in a phone interview earlier this month. “Now we’re introducing women into that setting and we have to fundamentally change it to make it safe in the first instance, and then comfortable and appealing.”
Western Australia’s parliament in July announced an inquiry into sexual harassment in the FIFO mining industry following a spate of allegations. Miners including BHP and Rio say the increase in reports shows their efforts to make women more confident about speaking out is paying off. Still, other submissions to the inquiry suggest the problem is an endemic one.
Nearly 23% of women in the industry have experienced physical acts of sexual assault, according to a survey by union body Western Mineworkers Alliance. Just four in 10 women FIFO workers said staff are encouraged to report sexual harassment and half said workers are not supported through the reporting process, WMWA noted in its submission to the inquiry.
To be sure, toxic male attitudes are not just a problem in Australia. In Chile, where BHP has major copper operations, the company has had to work hard to overcome traditional perceptions of women’s role in society, Vines said. Hiring more women in the South American country was a challenge in itself, although gains were being made including the first female general manager of a mine.
BHP is taking a wide range of steps to combat harassment at its global operations, including tighter security, limits on alcohol consumption, and education programs for its workers. Vines stressed the importance of changing the attitudes that underpin bad behavior, in part by improving the diversity of its workforce. The company has increased the percentage of women employees to nearly 30%, from 17.6% in 2016, and is targeting gender parity by 2025.
“Male-dominated environments are not normal, they’re not natural, they’re not healthy,” said Vines. “Let’s get to gender balance, because when you’ve got 50% women and 50% men this stuff just doesn’t happen as much.”
(Adds detail from Rio Tinto in paragraph three, Chile in paragraph eight)
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P.
(Bloomberg) — The race to supply automakers with nickel to power their batteries is pitting two of the biggest names in mining against each other.
A company owned by Australian iron ore billionaire Andrew Forrest signaled its refusal to back down after a proposal to buy Canadian nickel developer Noront Resources Ltd. was trumped by the world’s biggest miner, BHP Group. And Forrest has been busy back home too: Australian nickel producer Western Areas Ltd. — which announced this week it’s in takeover talks with a local rival — revealed Friday the tycoon has become a substantial shareholder.
Nickel, traditionally used to make stainless steel, is taking center stage in the mining industry’s push into the booming battery metal space. A key component in lithium-ion batteries, it’s a favorite talking point of Elon Musk, who appealed to producers last year to “please mine more nickel.” The metal packs more energy into batteries and allows producers to reduce use of cobalt, which is more expensive and has a less transparent supply chain.
The fight over nickel mines comes at a pivotal time for the industry. Plans by China’s Tsingshan Holding Group to make battery-grade metal from materials previously reserved only for stainless steel have sparked fears of a market flood. Yet some analysts and investors have questioned whether the process will be accepted by increasingly eco-conscious automakers.
For BHP, the focus on nickel represents a sharp turnaround from less than a decade ago. The company had planned to exit the nickel business to focus on other commodities, and put its Nickel West unit in Australia up for sale in 2014. Today, BHP has identified the metal as one of its priority “future facing” commodities as the company shifts away from fossil fuels.
Last month, it announced that it’s signed a nickel-supply deal with Tesla Inc. to sell metal from Nickel West. And a week later, it announced a $260 million offer to gain control of Noront’s rich nickel and copper deposit, with the backing of the smaller company’s board.
Forrest’s Wyloo Metals Pty Ltd., which has amassed a stake of about 25% of Noront and holds a convertible loan, said Thursday it will refuse to sell its shares to BHP, setting the businessman up as a future — and potentially difficult — partner. He also suggested he could return with an increased competing offer if Noront were prepared to open its books for due diligence. (Noront retorted Friday it’s already offered to do so if Wyloo signs a confidentiality pact.)
It’s not clear what Forrest’s plans are for the Western Areas investment. But he’s got a track record of getting under the feet of established players — he made his fortune taking on BHP in Western Australia, when his Fortescue Metal Group burst on to the scene during the height of the last commodity super cycle. Since then, he’s created an iron ore giant to challenge the traditional Australian duopoly of BHP and Rio Tinto Group.
Forrest has long signaled he’s interested in battery metals and has expressed ambitions to get into the business for at least half a decade. In fact, he got his start in mining in nickel, working at Anaconda Nickel where he was developing the Murrin Murrin mine in Australia before being ousted in 2001.
“While Fortescue Metals is an iron ore miner, the very name tells us that he always had bigger plans,” said Tom Price, head of commodities strategy at Liberum Capital.
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P.
The board of Altius Minerals Corporation (TSE:ALS) has announced that it will be increasing its dividend on the 15th of September to CA$0.07. Even though the dividend went up, the yield is still quite low at only 1.3%.
View our latest analysis for Altius Minerals
Altius Minerals Might Find It Hard To Continue The Dividend
If it is predictable over a long period, even low dividend yields can be attractive. Altius Minerals is not generating a profit, but its free cash flows easily cover the dividend, leaving plenty for reinvestment in the business. We generally think that cash flow is more important than accounting measures of profit, so we are fairly comfortable with the dividend at this level.
Over the next year, EPS could expand by 41.2% if recent trends continue. It's nice to see things moving in the right direction, but this probably won't be enough for the company to turn a profit. The positive free cash flows give us some comfort, however, that the dividend could continue to be sustained.
Altius Minerals Is Still Building Its Track Record
The dividend's track record has been pretty solid, but with only 6 years of history we want to see a few more years of history before making any solid conclusions. Since 2015, the first annual payment was CA$0.08, compared to the most recent full-year payment of CA$0.28. This means that it has been growing its distributions at 23% per annum over that time. We're not overly excited about the relatively short history of dividend payments, however the dividend is growing at a nice rate and we might take a closer look.
The Company Could Face Some Challenges Growing The Dividend
Investors could be attracted to the stock based on the quality of its payment history. It's encouraging to see Altius Minerals has been growing its earnings per share at 41% a year over the past five years. Even though the company is not profitable, it is growing at a solid clip. If the company can turn a profit relatively soon, we can see this becoming a reliable income stock.
Our Thoughts On Altius Minerals' Dividend
Overall, this is probably not a great income stock, even though the dividend is being raised at the moment. In the past, the payments have been unstable, but over the short term the dividend could be reliable, with the company generating enough cash to cover it. We would probably look elsewhere for an income investment.
Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. Just as an example, we've come across 2 warning signs for Altius Minerals you should be aware of, and 1 of them is significant. Looking for more high-yielding dividend ideas? Try our curated list of strong dividend payers.
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.
(Reuters) – Mining billionaire Andrew Forrest has picked up a 5.3% stake in Western Areas, a filing showed on Friday, a day after IGO Ltd confirmed it was in early talks to buy the Australian nickel producer.
Forrest's move follows a takeover attempt by his Wyloo Metals for Canadian nickel-copper miner Noront Resources Ltd where he's up against mining giant BHP Group.
The increasing number of deals for nickel assets underscore the race to secure supply of key battery metals that go into electric vehicles, as the world doubles down on greener modes of transport.
The filing from Western Areas shows Wyloo Metals and Tattarang, Forrest's investment companies, crossed the 5% disclosure-mark on Thursday.
Wyloo and Tattarang did not immediately respond to a request for comment on their intentions with the stake.
Shares of Western Areas climbed 8.6% on Friday, adding to a near 13% rise a day earlier when preliminary talks between the IGO and the Perth-based company were confirmed. IGO, meanwhile, fell 4.8%.
(Reporting by Nikhil Kurian Nainan in Bengaluru; editing by Uttaresh.V)
(Bloomberg) — A small Canadian nickel miner reiterated support for takeover by BHP Group after its largest shareholder, Australian mining magnate Andrew Forrest, tried snubbing the deal.
Noront Resources Ltd. said Friday in a statement that its board continues to recommend that shareholders accept BHP’s cash offer that values the company at C$325 million ($254 million), a day after Forrest’s Wyloo Metals Pty Ltd. said it wouldn’t sell its shares to the world’s largest miner. Wyloo Metals, which owns about 25% of Noront and holds a convertible loan that could lift its control to 37%, said it would consider making a superior offer.
The wrangle over the Toronto-based minerals explorer highlights a race among mining heavyweights to control supplies of raw materials that are key to a clean energy future. Noront has been developing one of Canada’s largest potential mineral reserves, in a largely untapped northern Ontario region dubbed the Ring of Fire. The high-grade nickel deposit also has chromite, copper and zinc. Nickel is one of the key metals used in batteries for electric vehicles.
Noront, whose main asset is the Eagle’s Nest nickel-and-copper deposit in the Ontario region, said success of BHP’s offer doesn’t require Wyloo’s support, according to the statement. Noront shares fell 4.8% to 50 Canadian cents at 10:56 a.m. trading in Toronto, below BHP’s 55-cent-a-share offer made July 27.
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P.
(Adds details on Rio Tinto, Fortescue, union submissions)
MELBOURNE, Aug 20 (Reuters) – Sexual harassment is rife at mining camps in Western Australia, with firms across the industry reporting multiple complaints that have led to 48 staff being fired by the world's biggest, BHP, since 2019, submissions to a government inquiry showed.
The inquiry was initiated after high-profile cases of sexual assault by miners in the mineral-rich state emerged this year, and as the sector struggles with a dire skills shortage and a low proportion of female staff.
Submissions to the investigation were made public this week, including a survey by The Western Mine Workers' Alliance, a union representing hundreds of workers in Pilbara, a region rich in the iron ore that is Australia's most valuable export.
The survey of 425 workers showed two-thirds of female respondents had experienced verbal sexual harassment while working in the FIFO mining industry, and 36% of women and 10% of men some form of harassment in the last 12 months.
"We have heard detailed reports from members about supervisors and managers pressuring female workers into sexual activity in order to access training and job opportunities and there is a widespread perception that such activity takes place," said the union, which is calling for an independent body to investigate complaints.
"I have seen a man watch porn on bus and plane. I have found a porn magazine in a truck. I have had underwear stolen. I have had a male try get into my room… I reported harassment on numerous occasions and nothing was done," the union quoted an unnamed woman who works at Rio Tinto as saying.
A Rio spokesperson pointed Reuters to its submissions for examples of steps it is taking as part of an industry-wide response that includes improving safety and reporting procedures and mining camp infrastructure and tightening policies around alcohol.
In more detailed accounts to the panel, which will make recommendations to West Australia's parliament in April 2022, BHP said it had fired 48 workers in two years for incidents related to sexual harassment.
It said it received four rape allegations, one of attempted rape, other reports of unwanted sexual touching, and 73 substantiated reports of sexual harassment from June 2019 to June 2021.
It said it was spending $300 million to increase camp security, improving workforce training, vetting practices and making reporting of incidents easier.
Rio said that since January 2020 it had received one reported case of sexual assault and 29 of sexual harassment that were substantiated, and another report of sexual assault and 14 of sexual harassment that could not be.
Fortescue, Woodside Petroleum and Chevron Corp, also made submissions.
Fortescue said it had 20 harassment matters reported this year, added to 11 last year, across a total workforce of more than 15,000.
(Reporting by Melanie Burton. Editing by Gerry Doyle and John Stonestreet)
MELBOURNE, Aug 20 (Reuters) – BHP Group fired 48 staff in the two years to the end of June for sexual harassment, it told a Western Australian government inquiry investigating such incidents at mining camps in the mineral-rich state.
The government probe comes as the sector struggles with a dire skills shortage and low female representation.
BHP received four rape allegations, one allegation of attempted rape and other reports of unwanted sexual touching, in addition to 73 substantiated reports of sexual harassment from June 2019 to June 2021, it said in a submission.
Two rape allegations were substantiated, investigation for one was continuing and one was not substantiated, it said in the report, which outlined sweeping measures to reduce such incidents.
That includes $300 million to increase camp security by improving its training and workforce vetting practices, making reporting of incidents easier, and ensuring its contractors abide by those rules.
Other major miners including Rio Tinto Fortescue , unions and interest groups have also made submissions to the enquiry, which will make recommendations to West Australia's parliament in April 2022. (Reporting by Melanie Burton. Editing by Gerry Doyle)
Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.
Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.
Cleveland-Cliffs (CLF) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:
Investors' growing interest in a stock is reflected in its recent price increase. A price change of 10% over the past four weeks positions the stock of this mining company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. CLF meets this criterion too, as the stock gained 14.7% over the past 12 weeks.
Moreover, the momentum for CLF is fast paced, as the stock currently has a beta of 2.27. This indicates that the stock moves 127% higher than the market in either direction.
Given this price performance, it is no surprise that CLF has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped CLF earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Most importantly, despite possessing fast-paced momentum features, CLF is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. CLF is currently trading at 0.89 times its sales. In other words, investors need to pay only 89 cents for each dollar of sales.
So, CLF appears to have plenty of room to run, and that too at a fast pace.
In addition to CLF, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
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.
Zacks Investment Research
(Bloomberg) — Southern Copper Corp. remains hopeful it can convince Peru’s new left-wing government of the merits of building a fiercely contested copper mine in the coastal mountains.
President Pedro Castillo has singled out the Tia Maria project as a non-starter under his administration, a view that was echoed by Minister of Energy and Mines Ivan Merino in a meeting with company executives Thursday.
But opposition to the project is based on incorrect assumptions about its ecological footprint, according to Chief Financial Officer Raul Jacob. For example, the mine will get its water from a desalination plant rather than dipping into the Tambo River and will use a leaching process that’s cleaner than conventional production methods, he said.
“This information may not be known by some of the authorities and that has created some miscommunication,” Jacob said in a telephone interview Friday. “It’s a matter of time before the authorities recognize the work we have been doing — not only on the technical and permitting side but also with the local population.”
Developing the $1.4 billion project would be a major breakthrough in a country where mining’s relations with isolated rural communities often sour. The previous government’s 2019 decision to approve a license for Tia Maria unleashed weeks of protests in the Arequipa region.
‘Positive’ Meeting
Jacob described the meeting with the minister as positive. The company laid out its $8 billion project pipeline in the country, as part of a company-wide goal of expanding its 1 million-ton capacity to 1.8 million tons by 2030.
Despite its ongoing opposition to Tia Maria, the Castillo administration is working on a new approach to community relations and red tape to unlock more of the country’s huge mineral wealth. Peru is the biggest copper producer after Chile and a major supplier of zinc and silver.
Southern Copper is “very close to signing a new social program” with communities for its Michiquillay project, Jacob said, adding that mining investments offer a much needed boost to local economies.
Still, the company will be paying close attention to policy priorities laid out by the prime minister in an upcoming presentation, which will help it make investment decisions. Castillo’s administration is studying a proposal to lift taxes and leave more of the mining windfall in the country.
Jacob said the company’s mines are running normally in the pandemic.
“We’re complying with our mining plans,” he said. “We’re expecting to be slightly higher than what we believed at the beginning of the year in terms of production.”
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P.
TORONTO, Aug. 20, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. (TSXV: NOT) (“Noront” or the “Company“) is responding to the statement issued by Wyloo Metals Pty Ltd (“Wyloo”) yesterday, in order to clarify several of Wyloo’s misleading statements relating to the proposed acquisition of Noront by BHP Western Mining Resources International Pty Ltd (“BHP” or the “Offeror“), a wholly owned subsidiary of BHP Lonsdale Investments Pty Ltd (“BHP Lonsdale“). Noront reiterates its support of BHP’s offer to acquire the shares of Noront (the “Offer”) and the recommendation of the Board of Directors of Noront that shareholders tender their shares and accept the Offer.
Access to Information for Wyloo; Ability to Make a Superior Proposal
Prior to the Offer, Noront engaged fully and provided access to due diligence information to all parties that were prepared to enter into a customary confidentiality agreement typical for transactions of this nature. Wyloo was provided an opportunity to execute such a confidentiality agreement (which was consistent with the confidentiality agreement that was executed by BHP) and have access to due diligence information, and Wyloo declined to do so.
If Wyloo remains interested in engaging with Noront, the support agreement entered into between Noront and BHP contains customary terms that permit the Company to engage with, and provide confidential information to, a party that makes a proposal to the Company that is superior to the Offer or would reasonably be expected to lead to a superior proposal. To date, the Company has received no such proposals.
BHP Offer Price and Value to Noront Shareholders
Noront sought to provide shareholders with a superior alternative to the $0.315 per share price proposed by Wyloo, which led to the all-cash Offer by BHP at a significantly higher price per Noront share. The Offer price of C$0.55 per Noront share, which represents a premium of 129% to Noront’s unaffected closing price of C$0.24 on May 21, 2021, the last trading day prior to the date that Wyloo first publicly announced its intention to make an offer for Noront, is 75% higher than the C$0.315 per share proposed by Wyloo in its announcement on May 25, 2021.
Minimum Tender Condition
Wyloo’s support of the transaction is not required in order for the Offer to be successful. The minimum tender condition for the Offer is that more than 50% of the shares not owned by BHP be tendered to the Offer, and this condition can be satisfied regardless of whether Wyloo tenders its Noront shares to the Offer. Shareholders wishing to receive the C$0.55 per Noront share in cash offered by BHP can and should tender to the Offer.
Board Recommendation
The Board of Directors of Noront, acting on the recommendation of the Special Committee, and after evaluating the Offer in consultation with Noront’s legal and financial advisors, has determined that the Offer is fair, from a financial point of view, to Noront shareholders and in the best interests of Noront and its shareholders. As such, the Board is recommending that shareholders tender their Noront shares and accept the Offer.
For further details relating to the Offer, please refer to BHP’s take-over bid circular in respect of the Offer dated July 27, 2021, which is available on SEDAR (www.sedar.com) under Noront’s issuer profile and on Noront’s corporate website (www.norontresources.com).
The Board encourages Noront shareholders to carefully read the information sent to them and to tender their Noront shares. Noront shareholders are encouraged to tender their Noront shares as soon as possible.
Shareholder Questions and Assistance
Noront shareholders who have questions or require assistance in considering the all-cash, recommended BHP Offer, should visit www.noronttender.ca or should contact the depositary and information agent for the Offer, Kingsdale Advisors, by telephone toll-free at 1-866-581-0512 (416-867-2272 for collect calls outside North America) or by email at contactus@kingsdaleadvisors.com.
About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com
Contact Information
|
Media Relations |
Investor Relations |
||
|
Ian Hamilton |
Greg Rieveley |
||
|
Tel: +1 (905) 399-6591 |
Tel: +1 (416) 367-1444 |
||
|
Janice Mandel |
|||
|
Tel: +1 (647) 300-3853 |
|||
Forward Looking Statements
Certain statements contained in this news release contain “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding: the Offer, including the results and effects of the Offer, and reasons to accept the Offer.
Although Noront believes that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs that the Offer will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived, and the ability to achieve goals. Noront cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of the Offeror, BHP Lonsdale or Noront, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by Noront will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Noront or its future results and performance.
Forward-looking information and statements in this news release are based on Noront’s beliefs and opinions at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Noront disavows and disclaims any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Noront.
Neither the TSX Venture Exchange nor its Regulation Services Provided (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
By Carolina Mandl and Marta Nogueira
SAO PAULO/RIO DE JANEIRO (Reuters) – Brazilian prosecutors asked a bankruptcy court on Wednesday to compel miners Vale SA and BHP Group Ltd to fully pay off their Samarco joint venture's 50.7 billion reais ($9.47 billion) debt, according to a court document reviewed by Reuters.
Samarco filed for bankruptcy protection in April as it struggled to restructure its debt, which it stopped servicing after a dam burst at a mine in 2015, killing 19 people, releasing a giant torrent of sludge and halting production.
Prosecutors consider Samarco's co-owners to be responsible for the disaster and are seeking a restraining order that would oblige them to cover its debt, according to the document.
The prosecutors said both controlling shareholders used Samarco to obtain immediate gains amid an iron-ore price boom, which they say precipitated the dam's collapse.
"They chose to put at risk the lives of people who lived and worked there, as well as the environment, causing tragic consequences and incalculable damages," they wrote.
Vale said in a securities filing it was surprised by the prosecutors' request.
"The request attacks the clear letter of the agreements signed between the parties, to which the MPMG (prosecutors from Minas Gerais state) is a signatory, in addition to threatening the ongoing discussions and efforts to renegotiate the reparation measures for damage resulting from the Fundão dam collapse," the company said.
BHP said in a statement the bankruptcy protection request was the best solution it found to allow Samarco to recover financially.
($1 = 5.3543 reais)
(Reporting by Carolina Mandl in Sao Paulo and Marta Nogueira in Rio de Janeiro; Editing by Christian Plumb and Peter Cooney)
MELBOURNE, Australia, August 19, 2021–(BUSINESS WIRE)–Rio Tinto is partnering with the Western Australian Government to launch a COVID-19 vaccination blitz targeting communities in the Pilbara and the fly-in fly-out workforce.
Following positive discussions between Rio Tinto and the WA Department of Health, vaccination hubs will be established in the Pilbara and at a trial clinic at Perth Airport to make vaccinations more accessible.
Starting with Tom Price, planning is underway for hubs at several locations in the Pilbara, with vaccines available to members of the local community, Indigenous communities, Rio Tinto employees, contractors and their families.
Rio Tinto is working with the Department of Health and the Shire of Ashburton and is close to finalising a location for the proposed Tom Price hub. The facility could potentially offer vaccines to the entire adult population of Tom Price and surrounding communities.
Rio Tinto’s COVID-19 screening facilities at Perth Airport (T2 and T3) will also be modified to include ‘pop-up’ vaccination hubs to target workers returning to Perth. The hubs will initially be available to Rio Tinto’s FIFO workforce, who regularly travel to and from the Pilbara, with the option to expand the vaccination service to the wider FIFO community.
The initial vaccination blitz is expected to commence in September, subject to availability of vaccines. Rio Tinto will work with the WA Government to finalise details in the coming weeks.
Rio Tinto Iron Ore chief executive Simon Trott said the company stood ready to support the WA Government’s vaccination rollout in any way it can.
"We are pleased to work in partnership with the WA Government on this industry-first vaccination blitz, which we expect will help boost vaccination rates in the Pilbara.
"This is an important development in our state’s effort to combat COVID-19. We know vaccinations are our best way out of this pandemic and we are very happy to convert our existing screening facilities, which have helped keep COVID-19 out of our operations and vulnerable communities for almost 18 months, to include vaccination hubs.
"Given Rio Tinto’s large operational footprint in the Pilbara, we are well positioned to support the WA Government’s vaccination rollout in the region, ensuring the vaccine is more accessible to remote and vulnerable communities.
"Plans are being developed to establish additional hubs in places like Paraburdoo, Pannawonica and Dampier, following the Tom Price vaccine blitz.
"While the initial vaccine blitz at Perth Airport will target Rio Tinto’s FIFO workforce, we will work with the WA Government to make our facilities available to others in the industry and community.
"Throughout the COVID-19 pandemic, the resources sector has worked hard to continue to operate in a COVID-safe way. The next step in is to play our part in making the vaccine accessible to as many Western Australians as possible."
View source version on businesswire.com: https://www.businesswire.com/news/home/20210818005863/en/
Contacts
Please direct all enquiries to
Media.enquiries@riotinto.com
Media Relations, Australia
Jonathan Rose
M +61 447 028 913
Matt Chambers
M +61 433 525 739
Jesse Riseborough
M +61 436 653 412
Jamie Macdonald
M +61 467 725 517
Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885
Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404
Category: General
If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.
Follow us on Twitter
Become our facebook fanCONNECT WITH US
Tweets
Tweet with hash tag #miningfeeds or @miningfeeds and your tweets will be displayed across this site.
MOST ACTIVE MINING STOCKS
Daily Gainers
 CMC Metals Ltd. |
CMB.V | +900.00% |
 Eden Energy Ltd |
EDE.AX | +200.00% |
| GoviEx Uranium Inc. |
GXU.V | +42.86% |
| Eagle Nickel Ltd. |
ENL.AX | +41.67% |
| Citigold Corp. Limited |
CTO.AX | +33.33% |
| Mount Burgess Mining NL |
MTB.AX | +33.33% |
| Exalt Resources Limited |
ERD.AX | +31.94% |
| Casa Minerals Inc. |
CASA.V | +30.00% |
| Cariboo Rose Resources Ltd |
CRB.V | +28.57% |
| Belmont Resources Inc. |
BEA.V | +28.57% |
