(Bloomberg) — South African stocks rose, led by companies that derive much of their income abroad and benefit from weakness in the local currency, as authorities grappled with a wave of unrest in two key provinces that has left more than 70 people dead.

The FTSE/JSE Africa All Share Index was 1.1% higher as of 10:09 a.m. in Johannesburg, with rand-hedge giants BHP Group Plc, Richemont, Anglo American Plc and Naspers Ltd. prominent in the advance after the currency slipped to its lowest level against the dollar since April.

South Africans are expected to face major food shortages, as rioters upend supply chains by looting supermarkets and torching goods trucks.

Food Shortage Set to Grip South Africa After Rioters Rampage

South Africa’s Biggest Refinery Shuts Down Due to Unrest

Negative foreign sentiment toward South African stocks was evident in the large outflows recorded Tuesday, with non-residents selling 4 billion rand ($271 million) of local equities, the most since November last year.

Globally, investors are evaluating a surprise U.S. inflation jump that stirred the debate on how long Federal Reserve policy can stay ultra-loose. The June U.S. inflation print topped all forecasts and pointed to higher costs associated with the reopening from the pandemic.

In Johannesburg Wednesday, an index of industrial miners surged 1.7% to provide the biggest boost to the overall market.

BHP +1.1% after RBC Capital Markets said the company has the potential to pay out 100% of 2021 earnings in dividends and still come in below its net debt target amid surging iron ore prices.NOTE: BHP Could Pay Out 100% of Earnings on Iron Ore Surge, RBC SaysAnglo American +1.2%, Glencore Plc +1.6%, Kumba Iron Ore Ltd. +0.7%, African Rainbow Minerals Ltd. +0.5%

Luxury goods retailer and popular rand-hedge Richemont advanced 1.2% to a record.

Global tech investor Naspers advanced 1.7% to contribute the most to the rising benchmark.

An index of banks steadied after plunging the most since December on Tuesday. The gauge was 0.7% higher, with Standard Bank Group Ltd. up 1.1%.

NOTE: Rand Hovers Near Weakest Level Since April: Inside South Africa

Real Estate Investment Trusts dropped to the lowest in two weeks, as investors avoided some sectors exposed to the unrest.

GrowthPoint Properties Ltd. -1.1%, Redefine Properties Ltd. -1.2%, Vukile Property Fund Ltd. -2.5%, Attacq Ltd. -3.7%, EPP NV -1.7%, Irongate Group -1.2%, Hyprop Investments Ltd. -0.8%, Hammerson Plc -1.3%, Resilient Reit Ltd 1.1%

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CRANBROOK, BC / ACCESSWIRE / July 14, 2021 / Eagle Plains Resources (TSXV:EPL) has been notified by option partner Rockridge Resources Ltd. (ROCK) (RRRLF) (RR0) ("Rockridge") that it has received final results from its recently completed diamond drilling program at its Knife Lake Copper Project located in Saskatchewan, Canada (the "Knife Lake Project" or "Property"). Rockridge drilled a total of 2,043 metres in twelve drill holes and has now received assays and completed interpretation for all holes. Results for the initial nine holes covering Gilbert North and South and the Knife Lake Deposit can be referenced in Eagle Plains June 17^th, 2021 news release. Rockridge will also be commencing a summer exploration program which is described herein. The Knife Lake Project, consisting of 81 claims totaling 55,471 hectares (137,069 acres), is an advanced-stage copper, silver, zinc and cobalt exploration property in Saskatchewan host to the Knife Lake Deposit.

See Knife Lake VMS Project Location Map here

The drill program at the Gilbert North and South target areas was designed to evaluate conductivity and magnetic anomalies identified during the winter 2021 airborne VTEM Plus survey and corresponding surficial geochemical anomalies. Following initial drilling at Gilbert North and South a Borehole Electromagnetic survey of all holes at the Gilbert North and South target areas was completed to refine targeting for the final holes of the program. Previous surficial work programs have indicated that the stratigraphic position of the targeted anomalies correlates with the Knife Lake Deposit to the east. Additional drilling at the Knife Lake Deposit was designed to infill resource drilling.

See Gilbert North and South Drill Hole Locations here

See Knife Lake Deposit Drill Hole Locations here

Rockridge's CEO, Jonathan Wiesblatt, commented: "From start to finish, the entire winter and spring exploration program including an airborne VTEM Plus survey and a 2,043m diamond drilling program at the Knife Lake Project was a great success overall. There are a number of exciting regional targets in close proximity to the Knife Lake deposit including the Gilbert Lake target area which was explored using modern day techniques for the very first time. The results thus far have further supported our working thesis that Knife Lake is not a one-off VMS deposit and that the prosects to add to the project's global resource remain high. Our priority for the balance of 2021 is to return to Knife Lake and to continue to advance the project and the deposit in a rising copper price environment. Rockridge's geological team is planning to return to Knife Lake later this summer to carry out an exploration program in preparation for another drill program later in the year. News flow will be forthcoming on these exploration programs."

Highlights

• Highlight drill intercepts at the Gilbert South target area include pyrrhotite-pyrite dominant VMS-style mineralization hosted at the same stratigraphic horizon as the Knife Lake Deposit

• Drilling focused on discovering VMS style copper deposits along newly defined conductors as well as at the Knife Lake VMS deposit

• Deposit is thought to be a remobilized portion of a "primary" VMS deposit; most of the historical work has consisted of shallow drilling at the deposit area with little regional work carried out and limited deeper drilling below the deposit

• There is strong discovery potential in and around the deposit as well as at regional targets on the Property; modern exploration techniques and methods are being utilized with a goal of making new discoveries

• A summer 2021 exploration program will follow up on the results of this drill program and details on this program are forthcoming

Knife Lake Winter/Spring 2021 Diamond Drill Hole Results and Geological Summary

The final two holes of the program (KF21023 and KF21024), totaling 244.0m, were completed at the Gilbert Lake South target area which is approx. 6 km to the west of the Knife Lake Deposit. Hole targeting was refined using preliminary data from the 2021 BHEM survey, which was completed concurrently with drilling. The Gilbert South target, which is over 2.5 km in length, had never been drilled prior to the 2021 drill program. A second resource infill hole (KF21022) was drilled at the Knife Lake Deposit, totaling 59.0m.

See Knife Lake Priority Target Areas Map here

Gilbert South Target

Drill hole KF21023 intersected massive, semi-massive to net-textured pyrite – pyrrhotite ± sphalerite ± chalcopyrite between 73.91m – 75.83 m with lesser sulphide infill of foliation to 80.16m hosted in amphibole gneiss. The mineralization is associated with strong graphite alteration. Assays returned anomalous results within the mineralized zone including 496.2 ppm Cu, 1277.3 ppm Zn and 1.7 g/t Ag over 6.39m (73.81m – 80.20m).

See Gilbert North and South Targets here

Hole KF21024 was planned to undercut hole KF21023 to test for variability of mineralization down-dip. Mineralization in the hole was weaker than the up-dip intersection with weakly defined net-textured pyrrhotite-pyrite hosted pegmatite between 72.91m – 73.55m. Assay results did not return significant concentrations of precious or base-metals.

Knife Lake Deposit Drilling

Drill hole KF21022 was designed to under-cut hole KF21021 to test for variability in mineralization down-dip. Semi-massive to net texture pyrite-pyrrhotite-sphalerite mineralization is hosted in intermediate volcanic intervals and pegmatite intervals between 27.39m – 48.50m. Drillhole KF21022 returned 0.73% Cu, 0.06 g/t Au, 2.98 g/t Ag, 0.15% Zn and 0.01% Co (0.88% CuEq) over 21.11m starting at 27.39m.

See Knife Lake Infill Drilling Cross Section here

Drill Hole Results Table for Hole KF21022

* Drill indicated intercepts (core length) are reported as drilled widths; true thickness is undetermined.

** No cutoffs or metal recoverability were factored into CuEq calculations.

*** Assumptions used in USD for the copper equivalent calculation were metal prices of $4.50/lb Cu, $19.38/lb Co, $1,864.00/oz Au, $27.90/oz Ag, $1.38/lb Zn. Copper equivalent (CuEq) was calculated using the formula CuEq = Cu% + ((Zn%*Zn Price*22.0462) + (Co%*Co Price*22.0462) + (Augpt*Au Price/31.1035) + (Ag *Ag Price/31.1035)) / (Cu price*22.0462).

Summer 2021 Exploration Program

Planning is now underway for a fully funded and permitted summer 2021 exploration program to follow up on the encouraging results from this drill program. The program will include a VTEM Plus Geophysical program to expand on the winter 2021 geophysical program. VTEM Plus has proven to be a useful tool for target generation on the Knife Lake Property. Rockridge is also planning for a follow-up drill program later in the year as well.

Knife Lake Geology and History

The Knife Lake Deposit is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone is approximately 15m thick and contains copper, silver, zinc, gold and cobalt mineralization which dips 30° to 50° eastward over a known strike-length within Rockridge's claim area of 3,700 metres, and a known average down-dip extension of approximately 300 metres.

See Knife Lake Deposit Map here

The deposit is hosted by felsic to intermediate volcanic and volcaniclastic rocks which have been metamorphosed to upper amphibolite facies. The deposit contains VMS mineralogy which has been significantly modified and partially remobilized during the emplacement of granitic rocks. The mineralization straddles the boundary between two rock units and occurs on both limbs of an interpreted overturned fold.

Rockridge completed twelve holes consisting of 1,053 metres of diamond drilling in the 2019 winter drilling program. This represented the first drilling on the property since 2001 and had two primary objectives: confirm the tenor of mineralization reported by previous operators and expand known zones of mineralization. Highlights from the drill program included previously reported hole KF19003 which intersected net-textured to semi-massive sulphide mineralization from 11.2m to 48.8m downhole. This 37.6 metre interval returned 2.03% Cu, 0.19 g/t Au, 9.88 g/t Ag, 0.36% Zn, and 0.01% Co for an estimated 2.42% CuEq. Additionally, previously reported drill hole KF19001 intersected net-textured to fracture-controlled sulphide mineralization from 7.5 metres to 40.6 metres downhole. This 33.1 metre interval returned 1.28% Cu, 0.12 g/t Au, 4.80 g/t Ag, 0.13% Zn, and 0.01% Co for an estimated 1.49% CuEq.

Compilation and initial modelling indicate potential for expansion of the deposit at depth. The recent drilling focused on resource upgrade as well as infill drilling between historical holes. The program gave Rockridge's technical team valuable insights into the property geology, alteration, and mineralization that will be applied to future regional exploration on the highly prospective and underexplored land package.

The Knife Lake deposit is a near surface VMS deposit starting a few metres below surface and the deposit remains open at depth and along strike for potential resource expansion. Recently Rockridge announced a maiden NI 43-101 resource estimate for the Knife Lake deposit (see the News Release dated August 14^th, 2019) which consisted of an indicated resource of 3.8 million tonnes at 1.02% CuEq at a 0.4% CuEq cut-off (3.8 MT at 0.83% Cu, 3.7 g/t Ag, 0.097 g/t Au, 82 ppm Co, 1740.7 ppm Zn). In addition, there is an inferred resource of 7.9 million tonnes at 0.67% CuEq at a 0.4% CuEq cut-off (7.9 MT at 0.53% Cu, 2.4 g/t Ag, 0.084 g/t Au, 53.1 ppm Co, 1454.9 ppm Zn). Refer to the NI 43-101 Technical Report on the Mineral Resource Estimate for the Knife Lake Property, Saskatchewan dated September 27, 2019, filed on Sedar.

Knife Lake Option Agreement Details

To earn a 100% interest in the Knife Lake Project, Rockridge has agreed to make a cash payment to Eagle Plains of $150,000 (complete), issue up to 5,550,000 common shares of Rockridge (2,750,000 shares issued to date) and complete $3,250,000 in exploration expenditures ($1,195,000 to date) over four years. Eagle Plains will retain a 2% net smelter royalty ("NSR") on certain claims which comprise the project area. Under the terms of the agreement Rockridge is designated as the Operator of the project.

QA/QC

Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48 element four acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay – AA finish (Au-AA23). Over limit analysis were completed using the following analyses: Ore Grade copper (Cu), nickel (Ni) and zinc (Zn) – four acid ICP-AES (ME-OG62).

On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Knife Lake drilling included certified reference material ("CRM's") and blanks that were inserted into each sample batch in order to verify the analytical from the lab.

Qualified Person

Kerry Bates, P. Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Geologist employed by TerraLogic Exploration Inc., has reviewed and approved the scientific and technical disclosure in this news release relating to the Knife Lake Project.

About Eagle Plains Resources

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

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

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

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

Cautionary Note Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Eagle Plains Resources Ltd

View source version on accesswire.com:
https://www.accesswire.com/655439/Eagle-Plains-Partner-Rockridge-Resources-Intersects-Additional-Copper-Mineralization-and-Plans-Upcoming-Summer-Exploration-Program-at-the-Knife-Lake-Copper-Project-Saskatchewan

Investors with an interest in Mining – Miscellaneous stocks have likely encountered both Billiton (BBL) and Wheaton Precious Metals Corp. (WPM). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Currently, Billiton has a Zacks Rank of #1 (Strong Buy), while Wheaton Precious Metals Corp. has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that BBL has an improving earnings outlook. However, value investors will care about much more than just this.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

BBL currently has a forward P/E ratio of 5.96, while WPM has a forward P/E of 29.82. We also note that BBL has a PEG ratio of 1.44. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WPM currently has a PEG ratio of 5.96.

Another notable valuation metric for BBL is its P/B ratio of 1.23. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, WPM has a P/B of 3.46.

Based on these metrics and many more, BBL holds a Value grade of A, while WPM has a Value grade of D.

BBL has seen stronger estimate revision activity and sports more attractive valuation metrics than WPM, so it seems like value investors will conclude that BBL is the superior option right now.

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Central Copper Resources (CCR), which mines in Congo and Zambia, is gearing up to launch on the London Stock Exchange as copper prices lost ground.

CCR is finalising the documentation and procedures for admission into the exchange's AIM, the market for small and medium size growth companies.

It plans to use the money raised from the IPO to “advance the high grade Mbamba Kilenda copper project in the Congo towards production and to continue high impact exploration” at its Titan project in the Congo and the Lunga project in Zambia.

The funds will go towards direct exploration and evaluation work programmes.

“We believe that we are listing on AIM at a good time in the project life cycles of the portfolio and given the recent performance of the copper price,” said CEO Kevin van Wouw.

Copper prices reached an all-time high in May as commodities markets soared as hopes of a global economic recovery creates demand for raw materials.

Read more: Inflation jitters in UK and US hit FTSE 100

But recently they have been slipping, falling again on Wednesday amid concerns Chinese industrial demand is slowing and as investors wait for clarification from US central bank officials on rate policy, after data showed rising inflation.

‘’Central Copper Resources is well placed to capitalise on the strong demand for copper forecast as the combustion engine is phased out and the adoption of electric vehicles accelerates,” Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown told Yahoo Finance UK.

“Quality copper ore is considered to be in relatively short supply so if the exploration is successful the company would stand to benefit from new mines coming online,” she said

But she warned about the risks of falling prices, and said investors should also be aware "that mining is highly capital intensive and this company does not offer anywhere near the same level of diversification as mining giants such as Glencore (GLEN.L) and Anglo American (AAL.L)."

Meanwhile, London has become home to a number of initial public offerings this year as the City seeks to attract more listings from innovative companies.

A boom in firms listing on the London Stock Exchange powered it to the best first quarter for listings in 15 years.

Watch: What are negative interest rates

TORONTO, ON / ACCESSWIRE / July 14, 2021 / Cadillac Ventures Inc. ("Cadillac" or the "Company") (TSXV:CDC) announces the consolidation, effective July 15, 2021, of its issued and outstanding common shares at a ratio of three (3) pre-consolidated shares to one (1) post-consolidation share (the "Consolidation"). The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, generate greater investor interest and improve trading liquidity.

Prior to the Consolidation, the Company had 150,960,910 common shares issued and outstanding. Upon completion of the Consolidation, the Company will have approximately 50,320,303 common shares issued and outstanding. All fractional shares are to be rounded down to the nearest whole number of common shares.

Registered shareholders holding share certificates have been mailed a letter of transmittal advising of the Consolidation and instructing them to surrender their share certificates representing pre-consolidation shares for replacement certificates or a direct registration advice representing their post-consolidation shares.

The Company received shareholder approval for the Consolidation at its Annual and Special Meeting of Shareholders held on November 11, 2020 and board approval on May 20, 2021.

The Consolidation was accepted by the TSX Venture Exchange on July 13, 2021 to be effective as of July 15, 2021.

Cautionary statement regarding forward-looking statements

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

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

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

SOURCE: Cadillac Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/655605/Cadillac-Ventures-Inc-Announces-Share-Consolidation

VANCOUVER, British Columbia, July 14, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) is pleased to announce that an addendum was entered into between the Corporation and ScoZinc Mining Ltd. ("ScoZinc") (TSXV: SZM) (the "Addendum"), in order to amend and supplement the arrangement agreement entered into among the parties on February 12, 2021 (the "Arrangement Agreement"), whereby Fancamp will indirectly acquire all of the issued and outstanding securities of ScoZinc by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Transaction").

Pursuant to the terms of the Addendum, Fancamp and ScoZinc have agreed to extend the original closing deadline of July 2, 2021 to August 2, 2021, in consideration of Fancamp’s payment to ScoZinc of $125,000. To the extent that the Transaction does not close by August 2, 2021, Fancamp may obtain further extension of the closing deadline to September 2, 2021, in consideration of an additional payment of $125,000 to ScoZinc.

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

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. As indicated previously, it has recently announced the acquisition of ScoZinc, a Canadian exploration and mining corporation that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia, as well as several prospective exploration licenses in surrounding regions. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

Forward-looking Statements

This news release includes certain statements which are not comprised of historical facts and that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "foresees" or "plan". Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Fancamp, Fancamp provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. Forward-looking information includes, but is not limited to, information and statements relating to future benefits arising from the Arrangement Agreement as amended and the development and future production of the relevant mining properties. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, uncertainties relating to the development of the relevant mining properties and risks relating to the terms and duration of any government orders suspending or limiting operations that are applicable to Fancamp or the relevant mining properties; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Fancamp considers its assumptions to be reasonable based on information currently available, but there can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210714005528/en/

Contacts

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

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

Media Contact
Hyunjoo Kim
Director, Communication, Marketing & Digital Strategy
Kingsdale Advisors
Phone: 416-867-2357
Cell: 416-899-6463
Email: hkim@kingsdaleadvisors.com

Toronto, Ontario–(Newsfile Corp. – July 14, 2021) – ATEX Resources Inc. (TSXV: ATX) ("ATEX") is pleased to report an updated interpretation of the geology of the Valeriano Copper Gold Project, located 125 kilometres southeast of Vallenar, Chile within the northern section of El Indio Mineral Belt. The new interpretation, developed after detailed relogging of 26,848 metres of historic drill core and reverse circulation drill chips, combined with results from the recent ATEX mapping and drilling programs, suggests that the Valeriano copper gold porphyry mineralization may trend closer to surface to the southwest of the main area of the previous drilling campaigns.

The Valeriano Copper Gold Porphyry Deposit currently hosts an inferred resource of 297.3 million tonnes grading 0.59% copper, 0.193 grams per tonne gold and 0.90 grams per tonne silver (0.77% copper equivalent) at a cut-off grade of 0.50% copper (maiden resource estimate, September 20, 2020 ATEX press release) for contained metal totals of 1.77 million tonnes copper, 1.84 million ounces gold and 8.62 million ounces of silver (2.30 million tonnes copper equivalent). In addition to the Copper Gold Porphyry Deposit, Valeriano also hosts the near surface Gold Oxide Deposit and the newly discovered GBV gold zone (July 6, 2021 ATEX press release).

"The new geological interpretation, the culmination of months of detailed relogging of drill core and chips undertaken by a team of geologists with particular expertise in El Indio Belt porphyry systems, suggests that copper gold porphyry mineralization may extend much closer to the surface, southwest of the area of previous drilling," said Raymond Jannas, President and CEO of ATEX. "This new area provides a significant exploration opportunity and, during the upcoming drill season, represents a high priority target for the expansion of the Valeriano Copper Gold Porphyry Deposit."

Valeriano Copper Gold Porphyry Deposit Geology

The detailed relogging program, combined with the surface mapping during the recent ATEX exploration program, resulted in a significantly better understanding of the geometry and distribution of the porphyry-related intrusives and the copper gold porphyry and gold oxide mineralization systems.

The relogging program developed the identification of six distinctive porphyry intrusives with five related to the development of the porphyry copper gold mineralization (VP1 to VP5) and one post mineral, dacitic intrusive that cuts all stages of mineralization: copper gold porphyry and gold oxide. Intrusives VP1 and VP2 have the highest copper and gold grades and intensity of veining and intrusives VP3 to VP5 display diminished grades and quartz veining. Figure 1 shows representative samples with approximate grade distribution of the various porphyries.

Figure 1 – Valeriano Porphyry Intrusives and Associated Average Grades

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6303/90271_f642d4db94d13a30_001full.jpg

The recent surface mapping identified a southwest block with outcropping VP4 and VP5 intrusives which cut a zone of gray-banded gold-bearing quartz veins, the GBV gold zone, characteristic of gold mineralization within the Maricunga Gold District. Relogging of historical holes also defined the presence of porphyries, not previously recognized, at shallow depths. This evidence supports the interpretation that the Valeriano porphyry system may extend to the southwest of previous area of drilling and the copper gold mineralization may also occur closer surface in this unexplored area. This opens a great exploration opportunity for a major copper gold porphyry cluster. Figure 2 is a schematic section representing new geological observations.

Figure 2 – Geological Section Valeriano Copper Gold Prophyry

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6303/90271_f642d4db94d13a30_002full.jpg

National Instrument 43-101 Compliance and Resource Disclosure

The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for ATEX's exploration activities in Chile is Sergio Diaz, a resident of La Senera, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.

The Valeriano Copper Gold Porphyry Deposit copper equivalent grades are calculated based upon a Cu price of $3.00 per pound, Au price of $1,800 per oz and Ag price of $25.00 per oz (all prices in US$). Minor discrepancies may exist due to rounding. Metal recoveries were not considered. Cut-off grades are for reporting purposes only and no economic conditions are implied. The formula for Cu Eq. % calculation:

Figure 3 – Formula for Cu Eq. % calculation

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6303/90271_capture.png

About ATEX Resources Inc.

ATEX is a mineral exploration company focused on the acquisition, development and monetization of projects throughout the Americas. ATEX's flagship Valeriano Copper Gold Project is located in Chile's prolific El Indio Mineral Belt.

For further information please contact:

Raymond Jannas
President and CEO

Email: rjannas@atexresources.com

or visit ATEX's website at www.atexresources.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in ATEX's publicly filed documents.

Although ATEX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepts responsibility for the adequacy or accuracy of the content of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90271

VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today released its third TCFD-aligned climate change report, Climate Change Outlook 2021, outlining how Teck will continue to create shareholder value by producing metals and materials that are essential for a low-carbon future while also taking steps to reduce emissions to achieve the goal of being a carbon-neutral operator by 2050.

“Teck is taking significant steps to address climate change risks because we know all sectors, including mining, need to play an active role in contributing to solving the challenge of climate change,” said Marcia Smith, Senior Vice President, Sustainability and External Affairs. “We are working to reduce the carbon footprint of our operations, while at the same time rebalancing our portfolio towards copper, which is an essential metal for low-carbon technology and infrastructure.”

Portfolio Resiliency Analysis
Teck’s 2021 Climate Change Outlook Report outlines three different climate-related scenarios looking forward to 2040, helping to identify the range of future risks and opportunities to inform corporate strategy and risk management.

In all scenarios we see continued demand for the core minerals and metals Teck produces — copper, zinc and steelmaking coal — which are some of the basic building blocks of a low-carbon future. In particular, copper demand growth is directly tied to decarbonization, driven by growth in low-emissions vehicles, energy storage and transmission, improved energy efficiency and renewable energy generation. As a significant copper producer in the Americas with a strong pipeline of copper projects, Teck is well positioned to benefit from additional demand. Our QB2 project in Chile, currently under construction, will double our consolidated copper production when production starts in 2022.

Climate Action and Progress
Climate Change Outlook 2021 outlines Teck’s climate change strategy which includes producing the metals and minerals essential for a low-carbon future; reducing the carbon footprint of our operations and value chain; supporting broad-based and effective carbon pricing; and enhancing our resiliency to climate risks.

Teck has more than 10 years’ experience setting and achieving greenhouse gas (GHG) reduction targets and is committed to reducing our operational GHGs in line with limiting global warming to 1.5°C. In 2020, we set an ambitious, long-term goal to become a carbon-neutral operator by 2050, with a shorter-term goal to reduce the carbon intensity of our operations by 33% by 2030. To realize this vision, we have set an initial roadmap with corresponding 2025 and 2030 goals, including procuring 50% of our electricity demands in Chile from clean energy by 2025 and 100% by 2030.

Teck is already among the world’s lowest carbon intensity producers for copper, steelmaking coal and zinc and lead production and has taken steps to further reduce carbon emissions. In 2020, we switched to 100% renewable power at our Carmen de Andacolla operation and entered into a power purchase agreement to procure over 50% of operational power needs at QB2 from renewable sources. In total, these will avoid approximately one million tonnes of GHG emissions annually, equivalent to the emissions from about 210,000 passenger vehicles.

For more information on our approach to reducing carbon emissions while remaining competitive in a low-carbon world and to download a copy of the report, visit our Taking Action on Climate Change page.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “should”, “believe” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this news release. The forward-looking statements in this news release include, but are not limited to, statements concerning: Teck's ability to create shareholder value; Teck's goal to be a carbon neutral operator by 2050; Teck’s rebalancing of its portfolio towards copper; Teck’s expectation of continued demand for the core minerals and metals Teck produces; the statement that Teck has a strong pipeline of copper projects and is well positioned to benefit from additional demand for copper; plans and ability to reduce the carbon footprint of Teck’s operations and value chain; Teck’s plans and ability to enhance resiliency to climate risks; Teck’s commitment to reduce operational GHGs in line with limiting global warming to 1.5° Celsius; Teck’s expectation and ability to reduce emissions and improve energy efficiency; statements relating to Teck's sustainability and climate action strategy goals and achieving reductions in GHG emissions and implementing renewable power generation. The forward-looking statements in this press release are based on assumptions regarding our ability to achieve our climate goals and the impacts on our business, as well as the availability of technology on reasonable terms, among other matters. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to vary materially. Factors that may cause actual results to vary include, but are not limited to, actual climate-change consequences, adequate technology not being available on adequate terms, changes in laws and governmental regulations and enforcement thereof that impact our operations or strategy, and alternatives displacing our commodity products. We assume no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks and uncertainties associated with these forward-looking statements can be found in our Climate Change Outlook Report for the year ended December 31, 2020, as well as our annual information form for the year ended December 31, 2020, filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under cover of Form 40-F, as well as subsequent filings under our profile.

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

Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations and Strategic Analysis
604.699.4621
fraser.phillips@teck.com

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

Not for Distribution to United States Newswire Services or for Dissemination in the United States

TORONTO, July 14, 2021–(BUSINESS WIRE)–Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its second quarter 2021 financial results after market close on July 29, 2021. Senior management will host a conference call and webcast on July 30, 2021 at 10:00 am ET to review Sherritt’s second quarter financial and operational performance.

Dial-in and Webcast Details:
North America dial-in number: 1 (888) 500-2295
International dial-in number: (438) 801-4078
Webcast and slide presentation: www.sherritt.com

Please dial in 15 minutes before the start of the conference to secure a line and avoid delays. Alternatively, listeners will be able to access the conference call via the webcast available on Sherritt’s website.

A copy of the webcast and replay of the conference call will be available on the website following the presentation.

About Sherritt
Sherritt is a world leader in the mining and refining of nickel and cobalt – metals essential for the growing adoption of electric vehicles. Its Technologies Group creates innovative, proprietary solutions for oil and mining companies around the world to improve environmental performance and increase economic value. Sherritt is also the largest independent energy producer in Cuba. Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol "S".

View source version on businesswire.com: https://www.businesswire.com/news/home/20210714005095/en/

Contacts

Joe Racanelli, Director of Investor Relations
joe.racanelli@sherritt.com
(416) 935-2457

KELOWNA, BC, July 13, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") has released an update on the work program at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.

Dr. Charles Fipke reports

North Rackla Massive Sulphide Drilling Update

To date seven drill holes have been completed from pads MZ30 and MZ51 (refer to Figure 1 for pad locations and Figures 2 and 3 for the respective cross sections). Six of the seven holes intersected semi-massive to massive sulphides consisting of galena and sphalerite (lead and zinc containing minerals, respectively) which in holes YKDD21-184 and YKDD21-185 were oxidized. The longest logged mineralized intercept was 24.35m in hole YKDD21-189.

Core from the first five holes has been cut on site and sent to the labs for preparation and analysis. The next two holes are being prepared for shipment. The analytical results will be released when received.

North Rackla Regional Targets

The highest priority gold, copper and silver-lead-zinc anomalies are G04, G14, G38, G66 and G67 as assessed by geologist, Chad Ulansky. Their locations are presented in Figure 4. Structural mapping has been completed on the high-grade copper showing (anomaly G66) that consistently returned grades of up to 20.8% copper. In addition, anomaly G67 from which rock samples contained gold grades ranging from 1.36 g/tonne to 39.6 g/tonne has been preliminarily mapped.

Over the next week the remaining high priority targets will be reviewed and geologically mapped so that drill targets can be located. The objective will be to drill high priority targets in 2021.

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

Signed,

Charles Fipke

Charles Fipke

Chairman

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

SOURCE Cantex Mine Development Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/13/c2526.html

Many prominent investors, including Warren Buffett, David Tepper and Stan Druckenmiller, have been cautious regarding the current bull market and missed out as the stock market reached another high in recent weeks. On the other hand, technology hedge funds weren't timid and registered double digit market beating gains. Financials, energy and industrial stocks initially suffered the most but many of these stocks delivered strong returns since November and hedge funds actually increased their positions in these stocks. In this article we will find out how hedge fund sentiment towards Rio Tinto Group (NYSE:RIO) changed recently.

Rio Tinto Group (NYSE:RIO) was in 25 hedge funds' portfolios at the end of March. The all time high for this statistic is 26. RIO has seen a decrease in hedge fund interest in recent months. There were 26 hedge funds in our database with RIO holdings at the end of December. Our calculations also showed that RIO isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings).

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Hedge funds have more than $3.5 trillion in assets under management, so you can't expect their entire portfolios to beat the market by large margins. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 115 percentage points since March 2017 (see the details here). So you can still find a lot of gems by following hedge funds' moves today.

Ken Fisher of Fisher Asset Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, economists warn of inflation flare up. So, we are checking out this backdoor gold play that has hit peak gains of 718% in a little over a year. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Now let's take a peek at the key hedge fund action surrounding Rio Tinto Group (NYSE:RIO).

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

At Q1's end, a total of 25 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -4% from the fourth quarter of 2020. The graph below displays the number of hedge funds with bullish position in RIO over the last 23 quarters. With hedgies' positions undergoing their usual ebb and flow, there exists an "upper tier" of notable hedge fund managers who were increasing their holdings significantly (or already accumulated large positions).

More specifically, Fisher Asset Management was the largest shareholder of Rio Tinto Group (NYSE:RIO), with a stake worth $971.9 million reported as of the end of March. Trailing Fisher Asset Management was Arrowstreet Capital, which amassed a stake valued at $285.7 million. Impala Asset Management, Masters Capital Management, and Impala Asset Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Impala Asset Management allocated the biggest weight to Rio Tinto Group (NYSE:RIO), around 5.92% of its 13F portfolio. Impala Asset Management is also relatively very bullish on the stock, dishing out 4.68 percent of its 13F equity portfolio to RIO.

Judging by the fact that Rio Tinto Group (NYSE:RIO) has witnessed falling interest from the smart money, logic holds that there was a specific group of funds that slashed their full holdings heading into Q2. Intriguingly, Josh Donfeld and David Rogers's Castle Hook Partners sold off the biggest investment of all the hedgies monitored by Insider Monkey, totaling about $16.6 million in stock. Andrew Sandler's fund, Sandler Capital Management, also dropped its stock, about $16.5 million worth. These transactions are intriguing to say the least, as total hedge fund interest fell by 1 funds heading into Q2.

Let's now review hedge fund activity in other stocks similar to Rio Tinto Group (NYSE:RIO). We will take a look at Sanofi (NASDAQ:SNY), The Charles Schwab Corporation (NYSE:SCHW), Applied Materials, Inc. (NASDAQ:AMAT), TOTAL S.A. (NYSE:TOT), International Business Machines Corp. (NYSE:IBM), HSBC Holdings plc (NYSE:HSBC), and The Toronto-Dominion Bank (NYSE:TD). This group of stocks' market valuations match RIO's market valuation.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position SNY,15,1142178,0 SCHW,76,4905041,15 AMAT,78,5711193,17 TOT,17,1163601,3 IBM,41,1355701,-10 HSBC,12,234093,-2 TD,19,212935,-3 Average,36.9,2103535,2.9 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 36.9 hedge funds with bullish positions and the average amount invested in these stocks was $2104 million. That figure was $1597 million in RIO's case. Applied Materials, Inc. (NASDAQ:AMAT) is the most popular stock in this table. On the other hand HSBC Holdings plc (NYSE:HSBC) is the least popular one with only 12 bullish hedge fund positions. Rio Tinto Group (NYSE:RIO) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for RIO is 42.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24% in 2021 through July 9th and beat the market by 6.7 percentage points. A small number of hedge funds were also right about betting on RIO, though not to the same extent, as the stock returned 10.7% since the end of Q1 (through July 9th) and outperformed the market.

Get real-time email alerts: Follow Rio Tinto Plc (NYSE:RIO)

Suggested Articles:

• How to Best Use Insider Monkey To Increase Your Returns

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

VANCOUVER, British Columbia, July 13, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) is pleased to announce that it has closed the Royalty Purchase Agreement with Champion Iron Mines Limited ("Champion"), a wholly owned subsidiary of Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF), as previously announced (see news release dated July 8, 2021), relating to the sale to Champion of certain iron ore royalties as well as the exploration property known as Lac Lamêlée (the "Transaction").

The Corporation received cash consideration of $1.3 million at closing and is entitled to receive certain future finite production payments payable once certain iron ore production thresholds have been achieved from the Fermont Properties subject to this agreement. Champion also acquired the Corporation’s ownership interest in the Lac Lamêlée property and a 1.5% Net Smelter Return royalty interest in the Corporation’s O’Keefe-Purdy, Harvey-Tuttle, Bellechasse, Oil Can, Fire Lake North Consolidated, Peppler Lake and Moiré Lake properties.

In addition to the cash payment received by Fancamp, the Transaction is expected to provide Fancamp and its shareholders with greater long-term certainty with respect to future income related to the Corporation’s iron ore properties, as well as greater flexibility and opportunity for earlier development of these deposits.

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

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. It has recently announced the acquisition of ScoZinc Mining Ltd., a Canadian exploration and mining corporation that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia, as well as several prospective exploration licenses in surrounding regions. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

Forward-looking Statements

This news release includes certain statements which are not comprised of historical facts and that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "foresees" or "plan". Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Fancamp, Fancamp provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. Forward-looking information includes, but is not limited to, information and statements relating to future benefits arising from the Agreement and the development and future production of the relevant mining properties. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, uncertainties relating to the development of the relevant mining properties and risks relating to the terms and duration of any government orders suspending or limiting operations that are applicable to Fancamp or the relevant mining properties; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Fancamp considers its assumptions to be reasonable based on information currently available, but there can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210713006089/en/

Contacts

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

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

Media Contact
Hyunjoo Kim
Director, Communication, Marketing & Digital Strategy
Kingsdale Advisors
Phone: 416-867-2357
Cell: 416-899-6463
Email: hkim@kingsdaleadvisors.com

Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the fourth quarter. You can find articles about an individual hedge fund's trades on numerous financial news websites. However, in this article we will take a look at their collective moves over the last 6 years and analyze what the smart money thinks of Southern Copper Corporation (NYSE:SCCO) based on that data.

Is Southern Copper Corporation (NYSE:SCCO) a healthy stock for your portfolio? Prominent investors were buying. The number of bullish hedge fund bets increased by 4 lately. Southern Copper Corporation (NYSE:SCCO) was in 27 hedge funds' portfolios at the end of the first quarter of 2021. The all time high for this statistic is 27. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that SCCO isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). There were 23 hedge funds in our database with SCCO positions at the end of the fourth quarter.

In the eyes of most investors, hedge funds are viewed as slow, outdated investment vehicles of the past. While there are greater than 8000 funds in operation at present, Our experts choose to focus on the bigwigs of this group, around 850 funds. It is estimated that this group of investors orchestrate the majority of the smart money's total asset base, and by following their first-class stock picks, Insider Monkey has identified many investment strategies that have historically outperformed the S&P 500 index. Insider Monkey's flagship short hedge fund strategy exceeded the S&P 500 short ETFs by around 20 percentage points per annum since its inception in March 2017. Also, our monthly newsletter's portfolio of long stock picks returned 206.8% since March 2017 (through May 2021) and beat the S&P 500 Index by more than 115 percentage points. You can download a sample issue of this newsletter on our website .

Michael Gelband of ExodusPoint Capital

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, economists warn of inflation flare up. So, we are checking out this backdoor gold play that has hit peak gains of 718% in a little over a year. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let's take a peek at the fresh hedge fund action encompassing Southern Copper Corporation (NYSE:SCCO).

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

At the end of March, a total of 27 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 17% from one quarter earlier. By comparison, 19 hedge funds held shares or bullish call options in SCCO a year ago. With hedgies' positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).

More specifically, Fisher Asset Management was the largest shareholder of Southern Copper Corporation (NYSE:SCCO), with a stake worth $270.7 million reported as of the end of March. Trailing Fisher Asset Management was Arrowstreet Capital, which amassed a stake valued at $160.6 million. Millennium Management, D E Shaw, and Capital Growth Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Capital Growth Management allocated the biggest weight to Southern Copper Corporation (NYSE:SCCO), around 2.08% of its 13F portfolio. Quantamental Technologies is also relatively very bullish on the stock, dishing out 1.11 percent of its 13F equity portfolio to SCCO.

As one would reasonably expect, specific money managers have been driving this bullishness. Millennium Management, managed by Israel Englander, initiated the most outsized position in Southern Copper Corporation (NYSE:SCCO). Millennium Management had $37 million invested in the company at the end of the quarter. Ken Heebner's Capital Growth Management also made a $22.7 million investment in the stock during the quarter. The other funds with new positions in the stock are Michael Gelband's ExodusPoint Capital, Ryan Tolkin (CIO)'s Schonfeld Strategic Advisors, and Qing Li's Sciencast Management.

Let's check out hedge fund activity in other stocks – not necessarily in the same industry as Southern Copper Corporation (NYSE:SCCO) but similarly valued. These stocks are The Blackstone Group Inc. (NYSE:BX), Moderna, Inc. (NASDAQ:MRNA), Edwards Lifesciences Corporation (NYSE:EW), Honda Motor Co Ltd (NYSE:HMC), Vodafone Group Plc (NASDAQ:VOD), Aon plc (NYSE:AON), and Koninklijke Philips NV (NYSE:PHG). This group of stocks' market values are closest to SCCO's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position BX,49,1626408,-5 MRNA,39,1640099,-2 EW,36,1462451,-2 HMC,12,432850,0 VOD,17,775060,0 AON,72,7767726,9 PHG,11,104193,3 Average,33.7,1972684,0.4 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 33.7 hedge funds with bullish positions and the average amount invested in these stocks was $1973 million. That figure was $590 million in SCCO's case. Aon plc (NYSE:AON) is the most popular stock in this table. On the other hand Koninklijke Philips NV (NYSE:PHG) is the least popular one with only 11 bullish hedge fund positions. Southern Copper Corporation (NYSE:SCCO) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for SCCO is 52.1. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24% in 2021 through July 9th and surpassed the market again by 6.7 percentage points. Unfortunately SCCO wasn't nearly as popular as these 5 stocks (hedge fund sentiment was quite bearish); SCCO investors were disappointed as the stock returned -3.1% since the end of March (through 7/9) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2021.

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MIRAMICHI, New Brunswick, July 13, 2021 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (TSXV: SXL) (the “Company”) announces a private placement of 3,199,731 flow-through units (the “FT Units”) at a price of $0.09 per FT Unit for gross proceeds of $287,975.79 (the “Private Placement”). Each FT Unit will be comprised of one common share in the capital of the Company issued on a “flow-through” basis and one-half of one common share purchase warrant issued on a non-flow-through basis (with two half common share purchase warrants being a “Warrant”). Each Warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of $0.10 for a period of 24 months from the date of issuance. The FT Units will be subject to a four-month and one day hold period from the date of issuance.

Three insiders of the Company will be participating in the Private Placement and will subscribe for an aggregate of 1,611,110 FT Units. The transaction is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the Insiders do not exceed 25% of its market capitalization.

The Company may pay finders’ fees in accordance with the rules and policies of the TSX Venture Exchange (“TSXV”). Proceeds received from the FT Units will be used to fund exploration on SLAM's gold and base metal projects in Canada with the main focus on the Menneval gold project in New Brunswick.

The Private Placement remains subject to the approval of the TSXV. For additional information call Mike Taylor at 506-623-8960.

About SLAM Exploration Ltd:

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

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

TORONTO, July 12, 2021 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces that the report for the second quarter ended June 30, 2021 will be published on Wednesday, July 28, 2021.

Second Quarter 2021 Results Conference Call and Webcast

The Company will hold a telephone conference call and webcast at 08:00 ET, 14:00 CET on Thursday, July 29, 2021. Conference call details are provided below. Please dial in 15 minutes prior to the call start to ensure placement into the conference on time.

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

To view the live webcast presentation, please log on using this direct link:
https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=CC7938DE-F740-4875-9DC3-C9CBEE38A9FD

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

A replay of the telephone conference will be available after the completion of the call through August 31, 2021.

Call-in numbers for the replay are (North America): +1 800 585 8367 or (internationally) +1 416 621 4642
The passcode for the replay is: 5997671

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

About Lundin Mining

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

SOURCE Lundin Mining Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/12/c5705.html

VANCOUVER, BC / ACCESSWIRE / July 12, 2021 / Tinka Resources Limited (" Tinka " or the " Company ") ( TSXV:TK)(BVL:TK )( OTCQB:TKRFF ) is pleased to announce the signing of a definitive agreement ( the "Agreement") with BHP World Exploration Inc. Sucursal del Peru (" BHP ") pursuant to which Tinka, through its wholly-owned subsidiary Darwin Peru S.A.C. (" Darwin "), has acquired a 100% interest in the Silvia copper-gold-zinc exploration project (the " Silvia Project "). The Silvia Project consists of 29,500 hectares of mining concessions believed to be prospective for large copper-gold-zinc skarn and porphyry copper deposits, lying immediately adjacent to the Company's 100%-owned Ayawilca zinc-silver project in central Peru. Tinka now controls over 46,000 hectares of contiguous mining concessions in central Peru, one of the world´s most prolific base metal belts – see Figure 1.

The Silvia Project lies ~80 km south and along strike of Antamina, one of the largest copper mines in Peru and the world's biggest skarn deposit (beneficially owned by BHP Group 33.75%, Glencore 33.75%, Teck 22.5% and Mitsubishi 10%). The project also lies immediately to the north of the Raura zinc-silver-lead-copper mine (owned by Minsur).

Greenfield exploration by BHP at the Silvia Project has identified copper-gold-zinc mineralization in outcropping skarns at two broad target areas both associated with coincident geophysical anomalies. Neither of these targets have been drill tested. Limestone belonging to the Jumasha Formation, the main host to the Antamina copper-zinc-silver skarn deposit, is widespread throughout the Silvia Project area – see Figure 2.

Key Highlights of the Silvia Copper-Gold Project

• Acquisition by Tinka of a 100% ownership of 29,500 hectares of contiguous mining concessions located in the Huanuco Andean region of central Peru immediately adjacent to the Company's Ayawilca project;

• The Silvia Project hosts two priority copper targets with outcropping skarn and coincident copper and geophysical anomalies at ‘Silvia Northwest' and ‘Silvia South' – see Figure 3;

• At Silvia Northwest, copper-gold-zinc mineralized skarns outcrop over several hectares within three zones (Area A, Area B, Area C) along a 3 kilometre northeast trend associated with diorite and dacitic porphyry. High grade rock chip samples of skarn at Area A grade up to 1.9% copper, 0.9 g/t gold, and 3.9% zinc – see Figure 4;

• At Silvia South, copper-gold mineralized skarns outcrop over several hectares associated with monzodiorite porphyry with rock samples grading up to 1.4% copper and 0.3 g/t gold associated with magnetic anomalies;

• Regional and prospect scale datasets are included with the property acquisition. These datasets include:

  • 320 line kilometres of project-wide airborne magnetics;

  • 15 line kilometres of IP geophysical data;

  • 64 line kilometres of ground magnetics; and

  • 661 surface rock chip geochemical results – copper anomalous areas are highlighted in Figure 3.

Dr. Graham Carman, the CEO of Tinka, said: "The Silvia Project acquisition fits in very well with Tinka's vision of exploring for potential world-class base and precious metal discoveries in Peru. Tinka considers the Silvia Project to be highly prospective for large copper skarn and porphyry deposits, and we are thrilled to have acquired this exciting portfolio from BHP right next door to our flagship Ayawilca project. This acquisition triples the size of Tinka's mining concessions in central Peru, turning the Company into one of the largest landholders in this highly mineralized belt. The target limestone at the Silvia Project is the Jumasha Formation which hosts the giant Antamina skarn deposit, while the Ayawilca deposit is hosted by the Pucara limestone."

"Tinka plans to move forward with the exploration for copper at the Silvia Project while work progresses at the Ayawilca zinc-silver project and specifically the preliminary economic assessment (" PEA "). Given the close proximity to Ayawilca, Tinka's exploration team can access the copper targets at the Silvia Project from our existing camp facilities, simplifying logistics and minimizing exploration costs."

"Tinka remains firmly committed to creating value through mineral exploration in Peru, and we believe that mining will continue to be a mainstay of the country´s economy and development in the future. We also believe that we will continue to advance our exploration projects while working together constructively with our stakeholders. We look forward to commencing our field programs at the Silvia Project as soon as possible."

Terms of the Silvia Project Acquisition

• 100% of the right and title of 35 granted mining concessions (plus 2 applications) to be transferred to Darwin;

• Darwin has made a one-time cash payment to BHP. No other milestone payments are required;

• BHP retains a 1% NSR royalty over the Silvia Project, which may be repurchased by Darwin;

• Darwin is required to keep all mining concessions in good standing, with BHP retaining the right of first refusal on any mining concession that Darwin wishes to relinquish.

Silvia Project Target Details

Silvia Northwest target

At Silvia Northwest, three areas of outcropping copper mineralization occur along a northeast-southwest trend encompassing a broad area of approximately 3.0 km by 1.0 km, each area referred to as Areas A, B, and C respectively – see Figure 3. Copper mineralization is associated with skarn alteration of Upper Cretaceous Jumasha Formation limestone and various intrusive and sub-volcanic rocks including diorite and dacitic porphyry. Coincident magnetic anomalies are interpreted to reflect the underlying intrusive rocks and, possibly, magnetite or pyrrhotite associated with the mineralization.

At Area A, previous exploration identified copper-bearing skarn mineralization over a surface area of approximately 0.4 km by 0.2 km associated with altered dacitic porphyry. The skarn consists mostly of garnet and pyroxene accompanied by chlorite, biotite, quartz and magnetite. Sulphide minerals include chalcopyrite, pyrite, pyrrhotite, chalcocite and rare bornite. Copper oxide (malachite) is common. Copper values from 13 rock chip samples of skarn and altered porphyry at Area A range from 0.02% to 1.90% Cu; Gold values range from <0.005 to 0.93 g/t Au; Zinc values range from 0.003 to 3.85% Zn. Extensive outcrops of white and grey marble are interpreted to form a halo around and above the skarn.

At Area B, skarn alteration outcrops sporadically over an area of approximately 0.7 km by 0.7 km associated with quartz diorite and porphyritic andesite dikes. Extensive areas of white and grey marble surround the intrusive and skarn rocks. Fine grained hornfels alteration interpreted to be caused by thermal metamorphism is associated with silty limestone of the younger Celendin Formation in the axis of a synclinal fold. Copper values from 28 rock chip samples of skarn at Target B range from 0.02% to 1.09% Cu; Gold values range from <0.005 to 0.63 g/t Au; Zinc values range from <0.01 to 0.54% Zn.

At Area C, copper-bearing skarn occurs in sporadic outcrops over a surface area of approximately 0.5 km by 0.3 km together with outcrops of diorite and dacitic porphyry. Garnet skarn has been mapped around the contact of dacitic porphyry surrounded by a wide area of white and grey marble. Copper values from 13 rock chip samples from outcrop of skarn at Target C range from <0.01% to 1.10% Cu; Gold values range from <0.005 to 3.55 g/t Au; Zinc values range from <0.01 to 3.55% Zn.

Silvia South target

At Silvia South, skarn alteration is exposed in numerous sporadic outcrops along a northeast-southwest trend within an area of approximately 3.7 km x 0.8 km associated with outcropping diorite and monzodiorite porphyry. Garnet and pyroxene skarns are associated with minor sulphides (pyrite, chalcopyrite) and sporadic malachite.

Copper values from 23 samples of outcropping skarn at Silvia South range from <0.01 to 1.37% Cu; Gold values range from <0.005 to 0.28 g/t Au; Zinc values range from 0.03 to 0.06% Zn.

Figure 1. Selected mining concession holdings in central Peru highlighting Tinka's Ayawilca and Silvia Projects

Figure 2. Map of major limestone formations in central Peru highlighting Tinka's Ayawilca and Silvia Projects

Figure 3. Silvia Project rock chip copper geochemistry (on airborne magnetic analytic signal image)

Figure 4. Maps of the Silvia Northwest target area at same scale.

1. Simplified geological map.

2. Analytical signal magnetic anomalies (note: hot colours are the modelled locations of the magnetic sources)

On behalf of the Board,

"Graham Carman"
Dr. Graham Carman, President & CEO

Investor Information:
www.tinkaresources.com

Rob Bruggeman 1.416.884.3556
rbruggeman@tinkaresources.com

Company Contact:
Mariana Bermudez 1.604.699.0202
info@tinkaresources.com

About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca zinc-silver-tin project in central Peru. The Zinc Zone deposit has an estimated Indicated mineral resource of 11.7 Mt grading 6.9% zinc, 15 g/t silver & 0.2% lead and an Inferred mineral resource of 45.0 Mt grading 5.6% zinc, 17 g/t silver & 0.2% lead (dated November 26, 2018). The Tin Zone has an estimated Inferred mineral resource of 14.5 Mt grading 0.63% tin (dated November 26, 2018). A Preliminary Economic Assessment (PEA) for the Zinc Zone was released on July 2, 2019 ( news release ). The Company has announced its intention to update the resource estimation and PEA by the end of 2021.

Forward Looking Statements: Certain information in this news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively "forward-looking statements"). All statements, other than statements of historical fact are forward-looking statements. Forward-looking statements are based on the beliefs and expectations of Tinka as well as assumptions made by and information currently available to Tinka's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations: timing of planned work programs and results varying from expectations; delay in obtaining results; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; equipment failure, unexpected geological conditions; imprecision in resource estimates or metal recoveries; success of future development initiatives; competition and operating performance; environmental and safety risks; the Company's expectations regarding the Ayawilca Project PEA; the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; delays in obtaining or failure to obtain necessary permits and approvals from local authorities; community agreements and relations; and, other development and operating risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Although Tinka believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, Tinka disclaims any intent or obligation to update any forward-looking statement.

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

SOURCE: Tinka Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/655033/Tinka-Triples-Property-at-Ayawilca-With-Acquisition-of-the-Silvia-Copper-Project

VANCOUVER, BC / ACCESSWIRE / July 12, 2021 / International Millennium Mining Corp. (TSXV:IMI) (the "Company" or "IMMC") is pleased to announce that, further to its June 28, 2021 press release, it will be changing its name to "Millennium Silver Corp."

At the opening of the markets on July 13, 2021, the Company's common shares will commence trading under the new name, Millennium Silver Corp., and the new ticker symbol "MSC". The Company's new CUSIP number is 60041D106 and its new ISIN is CA60041D1069.

No action will be required by existing shareholders with respect to the name change. Issued share certificates representing common shares of the Company will not be affected by the change of name and will not need to be exchanged. The Company encourages any shareholder concerns in this regard to be directed to their broker or agent.

International Millennium Mining Corp. (TSXV:IMI) is focused on the exploration and development of its Silver Peak silver-gold project in southwest Nevada. The Company's common shares trade on the Exchange under the symbol: IMI.

ON BEHALF OF THE BOARD

'John A. Versfelt"

John A. Versfelt
President and CEO

Further information about the Company can be found on SEDAR (www.sedar.com), the Company's website (www.immc.ca) or by contacting Mr. John Versfelt, President & CEO of the Company at 604-527-8135.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: International Millennium Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/654981/International-Millennium-Mining-Corp-Announces-Name-Change-to-Millennium-Silver-Corp

ROUYN-NORANDA, Québec, July 12, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has sold its Tarmac Gold Property (the “Property”) located in Dubuisson Township, Quebec to Wesdome Gold Mines Ltd. (WDO-TSX)(“Wesdome”) for one million dollars ($1,000,000) and a 1% Gross Metal Royalty.

The Property consists of 6 claims covering 94 hectares located entirely within Wesdome’s Kiena Mine Complex and less than 2 kilometers northeast of the Kiena underground mine, all located beneath Lac De Montigny. Previous drilling by Globex in 1996 returned numerous gold intersections such as holes TM-10 (14.22 g/t Au, 84.1 g/t Ag and 6.49% Cu over 1.2 m) and TM-24 (29.92 g/t Au and 22.4 g/t Ag over 2.24 m).

Globex has maintained the Property since the 1996 drilling program due to the evident economic potential. The Property is surrounded on all sides by Wesdome claims, thereby positioning the company to facilitate the potential exploration and advancement of these claims.

The technical content of this press release has been compiled, reviewed and approved by Jack Stoch, Geo., President and CEO of Globex, and a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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

55,089,817 shares issued and outstanding

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, July 12, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") is pleased to announce that, further to the Company's news releases dated June 17 and June 25, 2021, the Company has closed, subject to receipt of final approval from the TSX Venture Exchange ("TSX-V"), its private placement financing for total proceeds of $2,643,777 (the "Private Placement"). As part of the Private Placement, Crescat Capital LLC ("Crescat"), for certain funds of Crescat, has made a strategic investment in the Company representing a 9.1% ownership interest and 13% on a fully diluted basis. Crescat will have the right and option to participate in future financings to maintain its equity interest in the Company until such date that Crescat's ownership in the Company falls below 5% of the then-outstanding common shares on a fully-diluted basis.

"Finlay's Silver Hope project is an underexplored, target-rich, polymetallic system associated with a composite intrusive center," commented Quinton Hennigh, technical advisor to Crescat. "The Company has aggressive plans to further define some of the most robust targets and drill them. We are pleased to lead their recent capital raise to ensure this program is funded. We look forward to seeing what discoveries result from this focused exploration program."

Robert Brown, Finlay's President & CEO stated:

"I would like to thank the dedication and diligent work of the Finlay, Crescat, and Ascenta teams in completing this financing process. We, at Finlay, now look forward to starting an IP geophysics program in August, and core drilling in September on the Silver Hope project."

The Private Placement consisted of the issuance of: (i) a total of 17,653,081 non-flow through units (the "NFT Units") for gross proceeds of $1,588,777, at price of $0.09 per NFT Unit, with each NFT Unit comprising one common share of the Company and one common share purchase warrant (each, a "Unit Warrant"); and (ii) a total of 8,791,667 flow through units (each, a "FT Unit"), at a price of $0.12 per FT Unit for gross proceeds of $1,055,000, with each FT Unit comprising one common share of the Company which qualifies as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one Unit Warrant.

Each Unit Warrant entitles the holder of NFT Units or FT Units, as applicable, to acquire one additional common share of the Company (each, a "Warrant Share") at an exercise price of $0.135 per Warrant Share for a period of twenty-four months from the closing of the Private Placement.

In connection with the closing of the Private Placement, the Company: (i) paid cash finder's fees of $161,295 in aggregate to Ascenta Finance Corp. ("Ascenta"), and PI Financial Ltd.; (ii) issued an aggregate of 1,511,323 finder's compensation options (the "Compensation Options") to Ascenta; and (iii) issued 232,000 finder's units (the "Finder's Units") in aggregate to CIBC Wood Gundy and Raymond James Ltd. Each Compensation Option entitles the holder to purchase one Unit at a price of $0.09 or $0.12, as applicable, for a period of twenty-four months expiring on July 9, 2023. All of the Units issuable on exercise of each Compensation Option and the Finder's Units have the same terms as the Units issued to the subscribers of the Private Placement.

All securities issued under the Private Placement are subject to a four-month hold period expiring on November 10, 2021.

The Company expects to use the proceeds raised from the Private Placement to fund general and operating working capital, including Induced Polarization geophysical surveys of the Equity East Zone, expansion of the soil sampling grid, geological mapping and rock sampling, and further core drilling of priority Equity Silver and porphyry copper-type targets on the Silver Hope Property.

The securities being offered will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold within the United States absent registration or an exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

About Crescat Capital LLC

Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives and includes Global Macro, Long/Short, Large Cap and Precious Metals funds.

Crescat is advised by its technical consultant, Dr. Quinton Hennigh, on investments in gold and silver resource companies. Dr. Hennigh became an economic geologist after obtaining his Ph.D. in Geology/Geochemistry from the Colorado School of Mines. He has more than 30 years of exploration experience with major gold mining firms that include Homestake Mining, Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp and serves as its Chairman. Among his notable project involvements are First Mining Gold's Springpole gold deposit in Ontario, Kirkland Lake Gold's acquisition of the Fosterville gold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming, and Lion One's Tuvatu gold project on Fiji.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The Company's properties are:

• the Silver Hope Property, which surrounds the former Equity Silver Mine, includes the 2020 newly discovered Equity East target, porphyry copper-molybdenum mineralization discovered in 2010, along with three silver-copper mineralized zones, in a contiguous trend with the mined-out deposits of the former Equity Silver Mine (71 million oz. silver, 185 million lbs. copper and 508,000 oz. gold; Reference: http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001).

• the ATTY Property which is contiguous to the north side of the Kemess East deposit and adjacent to the Kemess Underground deposit of Centerra Gold Inc.; and

• the PIL Property, which is adjacent to TDG Gold's Baker Mine and contiguous with AMARC Resource's Joy property on which Freeport-McMoran has signed an option agreement with Amarc Resources.

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,

Richard T. Dauphinee,
CFO and Director

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 receipt of final approval from the TSX Venture Exchange, the expected use of proceeds from the Private Placement and the exploration plans for the Company's properties. 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/July2021/12/c1381.html

Metals X Limited (ASX:MLX) is possibly approaching a major achievement in its business, so we would like to shine some light on the company. Metals X Limited engages in the production of tin in Australia. The AU$200m market-cap company’s loss lessened since it announced a AU$80m loss in the full financial year, compared to the latest trailing-twelve-month loss of AU$58m, as it approaches breakeven. The most pressing concern for investors is Metals X's 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 Metals X

Metals X is bordering on breakeven, according to some Australian Metals and Mining analysts. They anticipate the company to incur a final loss in 2021, before generating positive profits of AU$63m in 2022. Therefore, the company is expected to breakeven just over a year from now. How fast will the company have to grow each year in order to reach the breakeven point by 2022? Working backwards from analyst estimates, it turns out that they expect the company to grow 81% year-on-year, on average, which is extremely buoyant. 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 Metals X's upcoming projects, though, keep in mind that generally 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. This means, large upcoming growth rates are not abnormal as the company is beginning to reap the benefits of earlier investments.

Before we wrap up, there’s one issue worth mentioning. Metals X currently has a relatively high level of debt. Typically, debt shouldn’t exceed 40% of your equity, which in Metals X's case is 43%. A higher level of debt requires more stringent capital management which increases the risk around investing in the loss-making company.

Next Steps:

There are key fundamentals of Metals X 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 Metals X, take a look at Metals X's company page on Simply Wall St. We've also put together a list of key factors you should look at:

1. Valuation: What is Metals X 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 Metals X is currently mispriced by the market.

2. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Metals X’s board and the CEO’s background.

3. 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. 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.

We think all investors should try to buy and hold high quality multi-year winners. And we've seen some truly amazing gains over the years. For example, the Fortescue Metals Group Limited (ASX:FMG) share price is up a whopping 464% in the last half decade, a handsome return for long term holders. And this is just one example of the epic gains achieved by some long term investors. It's also good to see the share price up 14% over the last quarter.

Check out our latest analysis for Fortescue Metals Group

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

Over half a decade, Fortescue Metals Group managed to grow its earnings per share at 84% a year. This EPS growth is higher than the 41% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock. The reasonably low P/E ratio of 8.58 also suggests market apprehension.

You can see below how EPS has changed over time (discover the exact values by clicking on the image).

We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free interactive report on Fortescue Metals Group's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

What About Dividends?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Fortescue Metals Group's TSR for the last 5 years was 825%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.

A Different Perspective

It's nice to see that Fortescue Metals Group shareholders have received a total shareholder return of 81% over the last year. And that does include the dividend. That gain is better than the annual TSR over five years, which is 56%. Therefore it seems like sentiment around the company has been positive lately. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Case in point: We've spotted 2 warning signs for Fortescue Metals Group you should be aware of, and 1 of them doesn't sit too well with us.

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

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

This article by Simply Wall St is general in nature. 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.

Energy Fuels (UUUU) closed at $5.41 in the latest trading session, marking a +1.31% move from the prior day. This move outpaced the S&P 500's daily gain of 1.13%.

Heading into today, shares of the uranium and vanadium miner and developer had lost 22.72% over the past month, lagging the Basic Materials sector's loss of 4.51% and the S&P 500's gain of 2.39% in that time.

UUUU will be looking to display strength as it nears its next earnings release. In that report, analysts expect UUUU to post earnings of -$0.04 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $5.48 million, up 1269.75% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $18.41 million. These totals would mark changes of +26.09% and +1010.62%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for UUUU. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.

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

You can find more information on all of these metrics, and much more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Energy Fuels Inc (UUUU) : Free Stock Analysis Report
 
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LONDON MARKETS Stocks in London moved higher on Friday, as investors took in stride news of a growth pullback in the country. Deal news sent FTSE 250-listed Vectura climbing. The FTSE 100 index (UK:UKX) rose 0.

• Mr. Smith has used incomplete, faulty and misleading disclosure in his activist circular, and needs to correct this information immediately in a new circular.

• KPMG continues its forensic investigation of Mr. Smith’s prior misuse of corporate funds and corporate assets.

• Shareholders are encouraged to continue voting on the GOLD proxy. Shareholders with questions on voting should contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.

VANCOUVER, British Columbia, July 09, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) would like to thank shareholders for their overwhelming support on the GOLD proxy as it continues to investigate Mr. Peter H. Smith’s conduct during his 30-year tenure at the Corporation. Mr. Smith spent 30 years using Fancamp as his personal bank account and it appears that he is planning to keep doing so in the future. Even worse, Mr. Smith has deliberately avoided disclosing how much he intends to take from the Corporation if he wins the proxy fight, all while asking shareholders to support him.

Shareholders need to know the truth about Mr. Smith. As the formal forensic investigation, with the assistance of KPMG International Ltd. ("KPMG") is advancing, Fancamp requires that Mr. Smith update and mail a revised circular that properly discloses his true intention for the use of corporate funds.

Mr. Smith’s Misleading Circular Disclosure Requires Remailing

While Mr. Smith claims he is on shareholders’ side, both his past and current actions tell a different story. Mr. Smith has tried to trick shareholders into obtaining their votes by omitting:

• How much he plans to take from the Corporation to fund his self-serving proxy fight, and

• The number of shares (common or special) he owns in Fancamp’s subsidiary, The Magpie Mines Inc. ("Magpie"), a valuable corporate asset which he personally controls.

The Corporation believes Mr. Smith has withheld this and other information intentionally to ensure it does not negatively impact what should be the balanced view of shareholders.

Mr. Smith started this proxy fight to regain control of the Corporation and has indicated he will use Fancamp’s money to personally repay himself for certain expenses; however, he has been purposely vague on the actual amount. Mr. Smith acknowledges in his circular that he will seek to be reimbursed $170,000 for proxy solicitation, but does not specify the extensive fees of his legal counsel and other advisors, nor the $527,000 his is seeking through the courts in retaliation for the for-cause termination of his consulting agreement with the Corporation. Taken together, the Corporation believes Mr. Smith will seek over $1 million to repay himself for the proxy contest he started.

Even if Mr. Smith and his legal counsel do not agree on the clear need for this transparency, they should take the advice of Mr. Smith’s proxy solicitor, who had previously and correctly argued for the importance of such disclosure. To paraphrase Gryphon Advisors in Australis Capital Inc.’s proxy fight (October 22, 2020) against Terry Booth:

"…this means that [Mr. Smith] and his Dissidents, if able to gain control of your Board and Company, will then seek to cover their fees with shareholders’ cash. Historically, the shareholder value destruction associated with [Mr. Smith] and his Dissident Nominees has taken some time. At [Fancamp], it would be immediate, material and come directly out of your pocket."¹

Fancamp agrees with the statement above.

Mr. Smith also failed to disclose his interest in Magpie, a valuable corporate asset that he paralyzed for his own personal benefit. Mr. Smith is required to disclose "the number of securities of each class of the venture issuer and any of its subsidiaries beneficially owned, or controlled or directed, directly or indirectly." However, Mr. Smith’s circular makes no reference to his Magpie common or special shares.

Additionally, Mr. Smith was required to pay for his Magpie special shares. However, early findings from KPMG’s forensic investigation found that Mr. Smith did not pay cash for his Magpie special shares, and despite his recent claims that he provided services for Magpie in exchange for the shares, there was no evidence of any such services being provided.

Unlike Mr. Smith, Fancamp believes it is critically important for shareholders to have a complete and transparent view of their investment and Corporation. While Mr. Smith has noted he "will seek reimbursement from Fancamp," he has failed to properly disclose how much he plans to take from Fancamp. Specifically, the circular indicates that Mr. Smith will ask Fancamp to pay for his legal fees but does not disclose the quantum of these fees. Fancamp believes that Mr. Smith should disclose this information, so that shareholders are fully informed when they vote.

Independent Forensic Investigation Continuing Despite Mr. Smith’s Non-Cooperation

The Corporation is pleased to share that the formal forensic investigation, with the assistance of KPMG, is advancing. However, given the extensive nature of the investigation, Mr. Smith’s failure to provide related documentation, and generally poor history of corporate record keeping in his time as CEO, more time is required to complete the investigation. The Corporation looks forward to providing full updates to shareholders as soon as possible.

Advisors

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

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

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. It has recently announced the acquisition of ScoZinc, a Canadian exploration and mining corporation that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia, as well as several prospective exploration licenses in surrounding regions. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.

Forward-looking Statements

This news release includes certain statements which are not comprised of historical facts and that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "foresees" or "plan". Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Fancamp, Fancamp provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, uncertainties relating to the development of the relevant mining properties and risks relating to the terms and duration of any government orders suspending or limiting operations that are applicable to Fancamp or the relevant mining properties; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Fancamp considers its assumptions to be reasonable based on information currently available, but there can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

¹ https://www.prnewswire.com/news-releases/australis-capital-issues-letter-to-shareholders-301158371.html

View source version on businesswire.com: https://www.businesswire.com/news/home/20210709005458/en/

Contacts

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

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

Media Contact
Hyunjoo Kim
Director, Communication, Marketing & Digital Strategy
Kingsdale Advisors
Phone: 416-867-2357
Cell: 416-899-6463
Email: hkim@kingsdaleadvisors.com

(Adds prosecutor quote, company comment)

By Marta Nogueira

RIO DE JANEIRO, July 9 (Reuters) – Federal prosecutors in Brazil are seeking a definitive settlement with miner Samarco and it's shareholders, BHP Group and Vale, for damages caused by the rupture of a tailings dam in 2015, the lead prosecutor told Reuters.

Carlos Bruno Ferreira da Silva, who is leading the task force responsible for the case, said in an interview this week that prosecutors felt a previous agreement – in which the companies agreed to pay around 20 billion reais ($3.80 billion)- had not been effective enough.

He declined to put a figure on how much companies might have to pay, but cited a previous lawsuit seeking 155 billion reais as a potential benchmark.

He also said the settlement would look to learn from the agreement signed with Vale for a separate dam disaster in 2019 at Brumadinho, in which the company agreed to pay 37.69 billion reais ($7.17 billion).

The dam collapse at the Samarco iron ore mine near the town of Mariana in the Brazilian state of Minas Gerais is widely regarded as the country's largest ever environmental disaster. It released enough thick red sludge to fill about 12,000 Olympic swimming pools, flattened an entire village, killed 19 people and left hundreds homeless.

The waste flooded the Rio Doce river, choking fish and spitting them lifeless to the surface.

In 2016, the companies agreed an initial settlement with prosecutors which created a foundation through which to repair damages and a complicated chronology for payments. But the deal left open space for a final definitive agreement.

Silva said there were nearly 85,000 still-unresolved lawsuits relating to the disaster and added that authorities, the mining companies and the impacted population were all unhappy with the earlier agreement.

"Everyone thinks the situation could be better," he said.

In response to requests for comment, Samarco, Vale, BHP and the Renova Foundation – responsible for implementing reparations – said they remain committed to repairing the damage done.

The negotiations with prosecutors, they added, will not interfere with projects and compensations currently in progress. ($1 = 5.2579 reais) (Reporting by Marta Nogueira, writing by Stephen Eisenhammer, Editing by Chris Reese and Diane Craft)

TORONTO, July 9, 2021 /CNW/ – Adventus Mining Corporation ("Adventus" or the "Company") (TSXV: ADZN) (OTCQX: ADVZF) is pleased to announce that it has entered into an agreement with 2176423 Ontario Ltd., a private company controlled by Eric Sprott, to sell 17,336,339 common shares (the "Shares") of Canstar Resources Inc. ("Canstar") (TSXV: ROX) (OTCQB: CSRNF) at a price of $0.375 per Share for gross proceeds to Adventus in the amount of $6,501,127.12 (collectively, the "Sale Transaction").

Christian Kargl-Simard, President and CEO of Adventus commented, "We are excited at the ongoing momentum and success Canstar is having in Newfoundland, Canada, but must continue to focus on advancing and de-risking our core copper-gold business in Ecuador. We are pleased to have found an investor as renowned as Eric Sprott to purchase our Canstar stake with a longer-term vision for the business. As this ownership stake was non-core, the funds will go towards incremental exploration and development expenditures in Ecuador as well as general working capital and corporate purposes."

The Sale Transaction is scheduled to close in two tranches: the first tranche of 10,401,802 Shares is anticipated to close on or about July 15, 2021 for proceeds of $‎3,900,675.75 ‎and the second tranche of 6,934,537 Shares is anticipated to close on or about August 17, 2021 for proceeds of $‎‎2,600,451.37 ‎following release from escrow, subject to customary closing conditions. All currencies referenced in this news release are in Canadian dollars.

Early Warning Disclosure

Upon closing of the Sale Transaction, Adventus will no longer hold any common shares in Canstar.

Adventus will file an early warning report under National Instrument 62-103 in connection with the closing of the Sale Transaction. As Adventus will have decreased its security holdings in Canstar below 10%, following the foregoing early warning report filing, it will no longer be required to report under the early warning requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids with respect to Canstar, unless its security holdings in Canstar increases to 10% or more in the future.

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 news release.

This press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking information herein includes, but is not limited to, statements that address activities, events, or developments that Adventus expect or anticipate will or may occur in the future. Although Adventus have attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Adventus undertake to update any forward-looking information except in accordance with applicable securities laws. Forward looking information in this news release includes the future closing of the Sales Transaction and the anticipated timing thereof; and the Company's future ownership of common shares of Canstar.

SOURCE Adventus Mining Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/09/c0457.html

TORONTO, July 09, 2021 (GLOBE NEWSWIRE) — First Quantum Minerals Ltd. (“FQM” or the “Company”) (TSX: FM) will release second quarter 2021 financial and operating results on Tuesday, July 27, 2021 after the close of the Toronto Stock Exchange. The Company will host a conference call and webcast to discuss the results on Wednesday, July 28, 2021 at 9:00 am (ET).

Conference call and webcast details:

Conference call replay:

The conference call replay will be available from July 28, 2021 until 11:59pm ET on August 11, 2021.

For further information, visit our website at www.first-quantum.com or contact:

Ryan MacWilliam, Director, Business Development and Investor Relations
(416) 361-3400 Toll-free: 1 (888) 688-6577
E-Mail: info@fqml.com

ROUYN-NORANDA, Quebec, July 08, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to announce that the Toronto Stock Exchange (“TSX”) has approved Globex’s normal course issuer bid (“NCIB”). Under the NCIB, Globex will be entitled to repurchase for cancellation up to 1,000,000 common shares, representing approximately 1.82% of Globex’s issued and outstanding shares as of June 30, 2021, over a twelve-month period starting on July 12, 2021 and ending on July 11, 2022. The purchases by Globex will be effected through the facilities of the TSX and on other alternative trading systems in Canada, and will be made at the market price of the shares at the time of the purchase. Globex had 55,089,817 common shares issued and outstanding as of June 30, 2021, of which 48,708,726 shares constitute the “public float”.

During the most recently completed six months, the average daily trading volume for Globex’s common shares on the TSX was 91,628 shares. Consequently, under the policies of the TSX, Globex will have the right to repurchase during any one trading day a maximum of 22,907 common shares, representing 25% of the average daily trading volume. In addition, Globex may make, once per calendar week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not directly or indirectly owned by insiders of Globex, in accordance with the policies of the TSX.

Globex intends to acquire the common shares because it believes that the repurchase of common shares at certain market prices is beneficial to Globex and its shareholders. Globex intends to make any purchases on an opportunistic basis, taking share price and other considerations into account.

Any purchases made pursuant to the NCIB will be made in accordance with the requirements of the TSX. Except for exempt offers, Globex will make no purchases of common shares other than open market purchases during the period of the NCIB.

Under its previous NCIB, which entered into effect on March 13, 2020 and which expired on March 12, 2021, Globex was authorized to purchase up to 1,000,000 shares. Under the NCIB, Globex repurchased a total of 27,035 common shares at a volume weighted average purchase price of $0.6827 per share, through the facilities of the TSX and on alternative trading systems in Canada. All of the repurchased shares were cancelled by Globex.

Under Globex’s NCIB which entered into effect on March 12, 2019 and which expired on March 11, 2020, Globex was authorized to purchase up to 1,000,000 shares. Globex repurchased a total of 583,500 common shares at a volume weighted average purchase price of $0.3310 per share, all of which shares were cancelled by Globex.

In connection with the NCIB, Globex has entered into an automatic share purchase plan with a Canadian securities dealer pursuant to which the securities dealer, acting as Globex’s agent, may acquire at its discretion shares on Globex’s behalf during “black-out” or “closed” periods under Globex’s stock trading policy, subject to certain parameters as to price and number of shares.

Forward Looking Statements

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

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

55,089,817 shares issued and outstanding

Shares of mining giant Rio Tinto (RIO) were down around 4% in pre-market trading on Thursday after the company signed a Memorandum of Understanding (MoU) with South Korea’s largest steelmaker POSCO. Both companies will work together on various technologies to achieve low-carbon emissions across the entire steel value chain.

The partnership is a step towards both Rio Tinto’s and POSCO’s long-term ambitions of achieving net-zero carbon emissions by 2050.

The alliance will integrate Rio’s iron ore processing capabilities with POSCO’s steelmaking expertise to evaluate possible ways to reduce carbon emissions throughout the steel value chain, from the mining of iron ore to the final production of steel.

In pursuit of its net-zero goal, Rio Tinto has signed similar partnership agreements with several other steel producers, including China’s Baowu Steel Group, and Japan’s Nippon Steel Corporation.

Rio Tinto has actively been working on the climate change issue for over twenty years and has reduced its emissions by more than 30% in the past ten years. (See RIO stock charts on TipRanks)

Furthermore, Rio Tinto plans to reduce carbon intensity by 30% and absolute emissions by an incremental 15% by 2030.

Notably, it has also created a $1 billion fund to finance projects related to climate change and the betterment of the environment.

Simon Farry, VP of Iron Ore Sales and Marketing at Rio Tinto, commented, “This partnership with POSCO, a valued and long-standing customer, demonstrates our combined commitment to working together to identify ways to reduce emissions across the steel-making process. The agreement also complements Rio Tinto‘s partnerships with other customers as the industry focuses on developing technologies that support the transition to a low-carbon economy.”

UBS analyst Myles Allsop recently downgraded Rio Tinto to Sell from Hold.

Allsop believes that iron ore has reached an inflection point and forecasts iron ore prices to fall around 50% from their current highs of around $220, based on an expected boost in the iron ore supply.

Consensus among analysts is a Moderate Buy based on 2 Buys and 1 Sell. The average Rio Tinto price target of $101.56 implies 24% upside potential to current levels.

Rio Tinto scores a 7 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations.

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TORONTO (Reuters) -Junior miner Star Diamond Corp on Thursday said it objected to Rio Tinto's "predatory and coercive" actions after the global miner called a meeting for a joint venture the Canadian company says does not yet exist.

Rio Tinto responded by saying it "disagrees with Star Diamond’s interpretations in all material respects."

The companies have been in a long-running dispute over development of Star Diamond's Star-Orion South Diamond Project in the Canadian province of Saskatchewan.

In 2017, Star Diamond entered an earn-in agreement with Rio Tinto Exploration Canada Inc that gave the Anglo-Australian miner an option to earn up to a 60% interest in the project.

Saskatoon-based Star Diamond later said Rio overspent on the project while exercising its earn-in options before completing and delivering results from its bulk sampling program. It said Rio Tinto was trying to boost its stake at below market value.

Rio has spent roughly C$168 million to complete a 10-hole bulk sample program that Rio told Star Diamond would originally cost about C$18.5 million, the Canadian company said on Thursday.

"Rio Tinto now seeks to call a management committee meeting that it has no legal right to call for a joint venture that Rio Tinto knows has not been duly formed," Star Diamond said in a release.

A Rio Tinto spokesman said the miner has a right to call a meeting of the management committee and that Star Diamond’s latest attempt to prevent it from exercising that right was denied by a court on June 24.

A preliminary study in 2018 estimated 66 million carats of diamonds could be recovered from the C$2 billion Star-Orion project over a 38-year mine life.

Rio faced similar acrimony with its junior partner Turquoise Hill Resources over expansion of the pair's Oyu Tolgoi copper-gold mine in Mongolia, although that dispute was put to bed in April.

(Reporting by Jeff Lewis; Editing by David Gregorio and Paul Simao)