Southern Copper (SCCO) has been beaten down lately with too much selling pressure. While the stock has lost 16.2% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.

Here is How to Spot Oversold Stocks

We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.

RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.

Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.

So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.

However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.

Why SCCO Could Bounce Back Before Long

The RSI reading of 27.31 for SCCO is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.

This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering SCCO in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 2.3% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.

Moreover, SCCO currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Southern Copper Corporation (SCCO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Friday, June 18, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), Bank of America (BAC), and PayPal Holdings (PYPL). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

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

Shares of Abbott have underperformed the Zacks Medical Products industry in the year-to-date period (+1.8% vs. +3.8%). The Zacks analyst believes that the branded generics and international diabetes businesses should drive growth in the coming quarters. Further, new product launches and acquisitions are likely to boost Abbott’s sales further.

The company posted robust year-over-year improvements in the first quarter. It registered organic sales growth across most operating segments. Further, Diabetes Care sales were strong on the back of solid worldwide adoption of FreeStyle Libre. However, the company’s disappointing performance in the Pediatric Nutrition unit remains a major concern.

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

Bank of America shares have gained +31.4% over the last six months against the Zacks Major Regional Banks industry’s gain of +27.9%. The Zacks analyst believes that opening of new branches, enhanced digital offerings, strategic acquisitions and efforts to manage expenses will continue to support the company’s profitability in the near term.

Moreover, a strong balance sheet and liquidity position are expected to continue aiding financials. However, lower interest rates and the Federal Reserve signaling no near-term chance of change in the same are expected to keep hurting the bank’s margins and interest income.

(You can read the full research report on Bank of America here >>>)

Shares of PayPal have gained +14.7% in the past three months against the Zacks Internet Software industry’s gain of +1%. The Zacks analyst believes that PayPal is benefiting from robust growth in total payments volume on the back of increasing net new active accounts. Moreover, strengthening customer engagement on the company’s platform is another positive.

Solid momentum of core peer to peer and PayPal Checkout experiences is a tailwind. Also, accelerating transaction revenues of PayPal are likely to continue driving revenues. However, increasing credit loss reserves due to macroeconomic projections on account of the ongoing pandemic remains a matter of concern.

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

Other noteworthy reports we are featuring today include The Procter & Gamble (PG), BHP Group (BHP) and Boeing (BA).

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Sheraz Mian

Director of Research

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

Today's Must Read

Abbott (ABT) Base Business Rebounds, Drop in FY View Ails

Expense Saving Supports Bank of America (BAC) Amid Low Rates

PayPal (PYPL) Benefits From Increasing Total Payment Volume

Featured Reports

P&G's (PG) Productivity & Cost Savings Plan to Aid Margins

Per the Zacks analyst, P&G has been witnessing cost-savings and efficiency gains across all its business driven by the productivity program.

Liquidity, High Iron Prices Aid BHP Group (BHP), Costs Hurt

The Zacks analyst believes BHP's strong cash flow, focus on lowering debt, higher iron prices, and efforts to make operations more efficient will drive growth despite higher costs.

Strategic Mergers Aid Boeing (BA), Low 737 Deliveries Hurt

Per the Zacks Analyst, strategic mergers made by Boeing, such as overtaking KLX, boost growth. However, low 737 deliveries as a result of the worldwide grounding of 737 Max jets raises concerns.

ConocoPhillips (COP) Banks on Oil-Rich Permian Footprint

The Zacks analyst expects ConocoPhillips to boost production from lucrative oil resources in the prolific Permian Basin.

New Product Development, Wide Market Reach Aid Eaton (ETN)

Per the Zacks analyst, Eaton's operations in 175 countries across the world and the development of new products through ongoing R&D investments will continue to drive demand and boost profitability.

Strategic Initiatives Benefit Aon (AON), Rising Debts Hurt

Per the Zacks analyst, buyouts and collaborations have enhanced the company's capabilities, which in turn, has led to bottom-line growth.

T. Rowe (TROW) Rides on Organic Growth Moves Amid High Costs

As per Zacks analyst, organic growth-focused initiatives and a debt-free position along with substantial liquidity might continue to support T. Rowe Price.

New Upgrades

International Paper (IP) Rides on Favorable Demand, Buyouts

The Zacks analyst expects International Paper to gain from elevated packaging demand as well as focus on strategic acquisitions to strengthen its packaging business.

Western Digital (WDC) Rides on High-Capacity HDD Adoption

Per the Zacks analyst, Western Digital is benefiting from demand for high-capacity energy-assisted drives (16 and 18 terabytes) and its second-generation NVMe enterprise solid-state drives (SSDs).

Strength in E-Commerce Drives PVH Corp's (PVH) Top Line

Per the Zacks analyst, PVH Corp is gaining from solid online sales in all regions and brands, even after stores reopened. Notably, revenues in digital commerce unit surged 66% year over year in Q1.

New Downgrades

Debt Maturity Profile to Weigh on Canadian Natural (CNQ)

The Zacks analyst is worried that the company is set to face debt maturities each year out till 2027, thereby exposing it to refinancing risk at a time of extremely volatile commodity prices.

Stiff Competitive Landscape, Forex Woes Ail Abiomed (ABMD)

The Zacks analyst is worried about Abiomed facing fierce competition in the field of treatments for heart-related diseases. Unfavorable currency movements are an added issue.

Cat Loss Exposure, Rising Expenses Hurt CNA Financial (CNA)

Per the Zacks analyst, CNA Financial's exposure to catastrophe loss induces underwriting volatility thus profitability while rising expenses affecting net operating income concerns.

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
 
PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report
 
Procter & Gamble Company The (PG) : Free Stock Analysis Report
 
BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report
 
Bank of America Corporation (BAC) : Free Stock Analysis Report
 
The Boeing Company (BA) : Free Stock Analysis Report
 
Abbott Laboratories (ABT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

MELBOURNE, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has appointed Peter Cunningham as Chief Financial Officer with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.

Peter was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations. Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Rio Tinto chief executive Jakob Stausholm said "I am delighted to confirm Peter in the role and, having worked closely with him for a number of years, I know he is the ideal person to be our Chief Financial Officer. His detailed knowledge of the company and of the financial and non-financial drivers of our industry will be invaluable as we continue to strengthen Rio Tinto."

Rio Tinto chairman Simon Thompson said "I look forward to Peter joining the Rio Tinto Board and know from experience that his deep understanding of Rio Tinto and commitment to disciplined capital allocation will serve shareholders well and enrich our Board discussions."

Rio Tinto confirms that there are no matters to be disclosed pursuant to Rule 9.6.13(1)-(6) of the Listing Rules of the UK Listing Authority.

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State.

Notes to editors

Peter Cunningham will be issued a standard Rio Tinto executive contract, which includes a 12-month notice period. The remuneration package is in line with our Remuneration Policy approved by shareholders in 2021, and is comprised of the following elements:

• A base salary of £700,000.

• Target annual bonus opportunity at 100 per cent of base salary (with a maximum opportunity of 200 per cent of base salary).

• A long-term incentive plan award of up to 400 per cent of base salary with the first grant to be made in 2022.

• A company pension contribution or a cash allowance in lieu of pension equal to 14 per cent of base salary.

• Other benefits will include company provided health care coverage and eligibility to participate in the all-employee share plans.

• A minimum shareholding requirement of 300 per cent of base salary applies.

Further detail will be disclosed in the 2021 Directors’ Remuneration Report.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210616006071/en/

Contacts

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

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

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

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

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

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

riotinto.com

Category: general

MELBOURNE, June 17 (Reuters) – Alcoa Corp detailed plans on Thursday for a "step change" in alumina production that would allow it to cut 70% of emissions from the carbon intensive process by tapping renewable energy.

Among Australia's emissions intensive exports, alumina and aluminium would be the most at risk from carbon border tariffs that the European Union is set to announce in July, says think tank the Australia Institute.

"It's going to take to around 2030 or so before you get the technology ready to roll out…lots of planning will be needed to make this come together," company official Ray Chatfield told a conference in the city of Perth.

The Australian government has issued grants to help decarbonise the alumina refining process by which aluminium is made and which contributes about 24% of the country's direct manufacturing emissions, or more than 14 million tonnes of carbon dioxide in 2019, government agency data show.

But Australia could leverage its abundant renewable power, providing a strategic advantage for building out more green alumina production, Chatfield, Alcoa's global technical manager for refining energy, said.

The process would replace the natural gas used to generate high-pressure steam with compressors that would capture waste vapour to generate heat. Such compressors would be powered by renewable energy supplied from a power grid.

The process would also cut water use by about 25 gigalitres per year, he said.

About 1,200 MW of new renewable power is required to fully implement the mechanical vapour recompression (MVR) process at Australia’s six alumina refineries, three run by Alcoa, two by Rio Tinto and one by South32, Chatfield said.

Last month, Alcoa received a government grant to test the technology at scale at its Wagerup refinery in Western Australia by the end of 2023.

But adapting existing refineries for the new process would call for significant investment of $2 billion to $5 billion each, and the technology needs to be proved before it can be adopted, Chatfield added.

This week, Rio Tinto said it would look to cut carbon from the calcination process, which contributes a further 24% of process emissions, by replacing natural gas with hydrogen. The remaining 6% of emissions comes from power imports. (Reporting by Melanie Burton; Editing by Clarence Fernandez)

VANCOUVER, BC, June 17, 2021 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the "Company") is pleased to report on the continued success of its inaugural surface diamond drill program at the Revel Ridge Project.

The ~7,000 metre program is designed to explore gold-silver-lead-zinc mineralization over an approximate length of 7 km of the Revel Ridge orogenic deformation zone. Underground and surface drilling has already demonstrated that gold mineralization within this deformation zone is exceptionally consistent with mineralization exceeding 1,200 vertical metres and extending for a minimum of 1,500 metres along strike.

The first phase of surface drilling is targeting near surface gold-silver mineralized zones immediately on-strike to the gold-silver resource currently defined in both the Main and Yellowjacket zones, as well as testing several additional high-grade occurrences 4-5 km north and northwest of the 830 m Level Portal. To date, 10 surface diamond drillholes have been completed totaling approximately 1,900 m of NQ core. The first samples from the surface drill core, DDH RR21-41 to RR21- 43, have been submitted to the assay laboratory and initial results are expected shortly.

Rokmaster has also undertaken a surface soil geochemical program which is characterizing the multielement geochemical signature of both the Main Zone and Yellowjacket zone for 4.8 km northwest and 1.5 km southeast of the Revel Ridge deposit proper. Soil results are being analyzed

in the field by a XRF instrument to guide and rapidly outline geochemical anomalies associated with both the Main and Yellowjacket mineralized zones.

John Mirko, President and CEO and Rokmaster, commented: "It is both gratifying and reassuring to note that observations of drill core from the first drill holes indicate both the Main Zone and the Yellowjacket Zones are continuing to the northwest of the current resource area. Our soil geochemical program is also significantly expanding the geochemical footprint of the Revel Ridge mineralized system and along with structural, lithological and geochemical vectors is providing us with compelling drill targets. Rokmaster will continue to pursue those targets over the many kilometres of strike of this exceptionally strong, and in so many ways, unique mineralizing system."

The technical information contained in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Mark Rebagliati, P. Eng., FEC, who is independent of Rokmaster.

On behalf of the Board of Directors,

"John Mirko"

John Mirko, President and Chief Executive Officer.

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.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:

This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

SOURCE Rokmaster Resources Corp.

View original content: http://www.newswire.ca/en/releases/archive/June2021/17/c1974.html

LONDON, UK / ACCESSWIRE / June 17, 2021 / Horizonte Minerals Plc, (AIM:HZM)(TSX:HZM) ('Horizonte' or 'the Company') the nickel company focused on Brazil, is pleased to provide a financing update for the Araguaia Nickel Project ('Araguaia' or 'the Project') as the Project moves towards construction.

Highlights:

• Credit approval process underway following completion of due diligence by the International Lenders. Credit approval anticipated to be received in Q3 2021.

• Senior Debt Facility expected to benefit from significant Export Credit Agency support.

• Cornerstone strategic investor and final offtake agreements well advanced and expected to be finalised shortly after credit approvals.

The Company has made excellent progress on all key project finance workstreams during the course of 2021 and is pleased to confirm that all five international banks (together the 'International Lenders'), mandated for the US$325 million debt component of the project finance package ('Senior Debt Facility'), have each now commenced with their formal credit approval processes. This follows a comprehensive due diligence process, including technical and environmental and social due diligence undertaken by the International Lenders' independent consultants Micon International Limited and Arcadis respectively, which has confirmed the robust nature of the Project and the best-in-class approach to Environmental, Social and Governance ('ESG') standards that have been employed by Horizonte to date and will continue to be employed during project implementation. Good progress also continues to be made on discussions with Brazilian financial institutions.

As previously announced, the Company has also been in discussions with a number of Export Credit Agencies ('ECA') to provide credit support for a significant portion of the Senior Debt Facility. With the Company close to finalising the selection of key equipment and service providers for the Project, these discussions are now well progressed and a significant level of ECA credit support is now expected.

The receipt of credit approvals from the International Lenders is the catalyst for finalising all other components of the project finance package. Whilst the Company has continued to work towards a target date of the end of H1 2021, the credit approval process is not a timeline Horizonte has control over. The Company is targeting receipt of credit approvals in Q3 2021.

In anticipation of final credit approvals for the Senior Debt Facility, Horizonte has continued to progress all other components of the project finance package and is in detailed documentation with a major cornerstone strategic investor and, having received significant interest in the Araguaia product, is also in final negotiations on a long-term offtake agreement for the Project. These other aspects of the overall project finance package are well advanced, and the Company therefore expects to be in a position to finalise agreements shortly after receiving credit approvals.

Horizonte CEO, Jeremy Martin commented: 'We are now finalising the project financing for Araguaia. A significant amount of work has been completed by the team in the past six months particularly in the comprehensive due diligence process required by the international lenders. I would like to thank everyone involved in this process to enable us to reach this critical point, particularly in their flexibility and dedication in overcoming the challenges the Covid-19 pandemic has caused.

The completion of this rigorous process further underpins Araguaia's tier one status. In addition, the support from Export Credit Agencies as part of the package means we will be shortly finalising the major contracts for project execution enabling us to start construction on close of financing.'

For further information, visit www.horizonteminerals.com or contact:

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes 'forward-looking information' under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the Acquisition as described herein, statements with respect to the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the ability of the Company to complete the Placing as described herein, and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the Acquisition as described herein, exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, the inability of the Company to complete the Placing on the terms as described herein, and various risks associated with the legal and regulatory framework within which the Company operates. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Horizonte Minerals PLC

View source version on accesswire.com:
https://www.accesswire.com/652071/Horizonte-Minerals-PLC-Announces-Araguaia-Project-Financing-Update

CRANBROOK, BC / ACCESSWIRE / June 17, 2021 /Eagle Plains Resources (TSXV:EPL) has been notified by option partner Rockridge Resources Ltd. (ROCK)(RRRLF)(RR0) ("Rockridge") that it has received initial results from the recently completed diamond drilling program at the 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 received assays and completed interpretation for the first nine holes (1740.0m). Results for the remaining three holes will be released once results have been compiled and interpretation is complete. 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 2021 airborne VTEM Plus survey and corresponding surficial geochemical anomalies. 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

Rockridge's CEO, Jonathan Wiesblatt, commented: "Although the Knife Lake Deposit was discovered many years ago the exploration in and around the maiden resource has been negligible until just recently. The airborne VTEM Plus survey that was conducted in 2021 expanded the regional target areas beyond the Knife Lake deposit increasing the probabilities of making new and potentially meaningful discoveries. The work at Gilbert Lake has been the first drilling program beyond the Knife Lake Deposit in decades and the results thus far have been very encouraging. We believe that the discovery potential at the broader 15km Gilbert trend remains high and warrants follow up work in the near term which is currently being planned. We continue to learn more about the Knife Lake Deposit and are compelled by its high grade and near-surface composition. The progress we have made at Knife Lake is excellent and lines up with our thesis that the known deposit is a remobilized portion of a larger VMS system."

Highlights

• 2021 drill program expanded to 2,043m in twelve drill holes

• 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

• Infill drilling at the Knife Lake deposit (follow up to the 2019 drill program) returned 1.95% Cu, 0.11 g/t Au, 7.41 g/t Ag, 0.53% Zn and 0.02% Co (2.34% CuEq) over 14.02m beginning at 24.62m in hole KF21021

• Results for the remaining three holes will be released once results have been compiled and interpretation is complete

• Knife Lake NI 43-101 resource estimate from 2019 provides excellent anchor for Project and includes indicated resources of 3.8 MT at 1.02% CuEq. (3.8 MT at 0.83% Cu, 3.7 g/t Ag, 0.097 g/t Au, 82 ppm Co,1740.7 ppm Zn) as well as inferred resources of 7.9 MT at 0.67% Cu Eq (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)

• 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

• Planning is now underway for a summer 2021 exploration program to follow up on the results of this drill program

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

The first eight holes of the program (1690.0m) were completed at the Gilbert Lake North and South target areas which are approx. 5 to 6 km to the west of the Knife Lake Deposit. Geophysical modeling on the airborne VTEM Plus data revealed that three historic holes drilled at Gilbert North by previous operators did not intersect the prospective conductive body. The Gilbert South target, which is over 2.5 km in length, had never been drilled.

See Knife Lake Priority Target Areas Map here

Gilbert South Target

Several holes (KF21013, -014, -015 and -020) at Gilbert Lake South intersected encouraging VMS-style mineralization, including semi-massive and net-texture pyrrhotite-pyrite±chalcopyrite±sphalerite, hosted in intermediate-mafic metamorphosed volcanics and pegmatites. The host lithologies are interpreted to be the same stratigraphic horizon as the Knife Lake Deposit.

See Drill Hole KF21013, KF21014 and KF21015 Sections here

Drill hole KF21013 intersected three zones of semi-massive to net-textured pyrrhotite-pyrite ±chalcopyrite ±sphalerite hosted in amphibole gneiss, proximal to the contact with a pegmatite intrusion ranging from 0.72m to 2.72m wide (drill thickness).

Drill hole KF21014, designed to test up-dip of the mineralization seen in KF21013, intersected similar semi-massive to net-textured pyrrhotite-pyrite dominant sulphide horizons. Unlike the previous hole no pegmatite intrusions are associated with the mineralization.

Drill hole KF21015 tested the down-dip mineralization potential and continued to intersect semi-massive to net-textured pyrrhotite-pyrite. Assay results show anomalous precious and base-metal enrichment at pegmatite contacts including 1.32 ppm Ag over 3.31m (112.94m – 116.25m) and 1.26 ppm Ag, 381.20 ppm Cu and 779.32 ppm Zn over 6.81 m (136.57m – 143.38m).

See Drill Hole KF21016 Section here

Drill hole KF21016 was designed as a 100 m step-out to the south of hole KF21013-015 to test the continuity of sulphide mineralization along strike. The hole did not intersect a significant mineralized horizon, however borehole electromagnetics "BHEM" indicate that the strongest part of the conductor is located off-hole to the northwest.

See Drill Hole KF21017 Section here

KF21017 was drilled approximately 1,000m south of the holes, KF21013-16 and -20, targeting a strong VTEM Plus conductor. The hole did not return significant mineralization, however, results from the BHEM survey indicate an off-hole conductivity anomaly down dip that remains prospective requires further drill testing.

Drill hole KF21020 was designed as a 100m north step-out from holes KF21013-015 to further investigate continuity of mineralization along strike. The hole was successful at intersecting the targeted mineralized horizon first identified in previous holes. Assays confirmed visual logging observations that the mineralization is Fe-sulphide rich, returning weakly anomalous precious and base-metal enrichment including 1.35 ppm Ag over 3.34 m (86.50m – 89.84m) and 1018.04 ppm Zn over 1.84m (88.00m – 89.84m)

Gilbert North Target

See Drill Hole KF21018 and KF21019 Sections here

Drill holes KF21018-019 were completed at Gilbert North testing a corresponding surficial geochemical Cu-in-soil anomaly and airborne VTEM Plus conductivity anomaly along prospective Knife Lake stratigraphy. The borehole EM survey indicates that both holes missed the source of the conductivity anomaly along the top edge. Further deep drilling at Gilbert North to define the source of the geophysical anomaly is recommended.

Knife Lake Deposit

Drill hole KF21021 was designed to follow-up on the 2019 resource drilling program and infill historic drilling at the Knife Lake Deposit. Semi-massive to massive and net textured chalcopyrite-pyrite-pyrrhotite-sphalerite mineralization is hosted in intermediate-mafic volcanic and pegmatite intervals between 25.25m-38.64m. Drill hole KF21021 returned 1.95% Cu, 0.11 g/t Au, 7.41 g/t Ag, 0.53% Zn and 0.02% Co (2.34% CuEq) over 14.02m beginning at 24.62m.

Drill Hole Results Table for Hole KF21021:

* 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).

The remaining results from the winter 2021 drill program will be released once assays have been compiled and interpreted. Outstanding results include one infill hole from the Knife Lake Deposit and two holes that followed up on the off-hole conductor near hole KF21016. Planning is now underway for a summer 2021 exploration program to follow up on the encouraging results thus far from this drill program.

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.

The Company 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 the Company'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/652056/Eagle-Plains-Partner-Rockridge-Resources-Intersects-195-Cu-011-gt-Au-741-gt-Ag-053-Zn-and-002-Co-234-CuEq-over-1402m-at-Knife-Lake-Copper-Project-Saskatchewan

Southern Copper Corporation SCCO has various organic growth projects up its sleeve that will help the company in achieving its target of producing 1.9 million tons (Mt) by 2028. The will aid the company capitalize on the surge in demand for the metal triggered by the global focus on lower-carbon emissions. Backed by world class assets and its incessant focus on cost efficiency, the company is poised well for growth in the long haul.

Through the years, the company’s strong financial discipline has enabled it to make investments in its asset portfolio. It currently has the largest copper reserves in the industry at 67.7 Mt outscoring peers like FreeportMcMoRan Inc. FCX, Codelco and BHP Group BHP with copper reserves of 52.6Mt, 46.6 Mt and 44.4 Mt, respectively.

Roadmap to Copper Production of 1.9 Mt

The road from now to achieving production of 1.9 million tons will be a bit bumpy at the beginning, as the company anticipates lower grades to impact production in 2021 and 2022. However, 2023 is expected to be an inflation year with copper production expected to reach 1,031,000 tons. This will be made possible by the Peruvian production coming back on track and new production on projects of Pilares, El Pilar and Buenavista zinc concentrators.

Southern Copper operates high-quality, world-class assets in investment grade countries, such as Mexico and Peru. Including the Michiquillay ($2.5 billion) and Los Chancas ($2.6 billion) projects, its total investment program in Peru runs to $7.9 billion. Peru is currently the second largest producer of copper globally and holds 13% of the world’s copper reserves. Peru’s national output is expected grow to 225000 tons in 2022 and 245000 tons in 2023, per Trading Economics.

In Mexico, the company has a planned investment of $413 million in the Buenavista Zinc — Sonora project. It is expected to be completed in 2023 and will double the company’s zinc production capacity. An investment of $159 million is estimated for Pilares – Sonora project in Mexico, which comprises an open pit mine operation with an annual production capacity of 35,000 tons of copper in concentrates. It is expected to begin production in first-quarter 2022. This project will significantly improve the overall mineral ore grade. The low capital intensity copper greenfield project, El Pilar project, with an investment of $310 million is expected to be completed in 2023. It will add 36,000 tons of copper annually. The El Arco – Baja California project with an estimated capital budget of $2.9 billion is anticipated to have annual production of 190,000 tons of copper and 105,000 ounces of gold. These projects will help the company attain production target of 1.9 million tons by 2028.

High Copper Prices & Low Cost to Boost Margins

Copper prices have gained this year on pickup in global industrial activity and recovery in automobile industry. Further, the $2 trillion infrastructure package announced by President Biden will significantly increase the demand for copper, which is a fundamental element at green energy facilities. Thus, the long-term outlook for copper is positive as copper demand is expected to grow, driven by electric vehicles and renewable energy and infrastructure investments.

However, grade decline, rising input costs, water constraints and scarcity of high-quality future development opportunities continue to constrain the industry’s supply. This demand supply imbalance will push copper prices north. Backed by its endeavors to increase low-cost production, the company’s copper production cash cost is lower than other miners like Vale S.A VALE, BHP Group, Codelco and FreeportMcMoRan, which is commendable. Higher copper prices and low costs will translate to improved margins for the company.

Price Performance

Shares of Southern Copper have appreciated 70% over the past year compared with the industry’s rally of 138.9%.

Image Source: Zacks Investment Research

Zacks Rank

Southern Copper currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Time to Invest in Legal Marijuana

If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.

You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

Today, Download Marijuana Moneymakers FREE >>

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

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report

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

VALE S.A. (VALE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

(Bloomberg) — Global demand for potash could grow by as much as 3% a year over the next decade, BHP Group said as the world’s biggest miner prepares to decide on a major investment in the crop nutrient in Canada.

BHP remained on track to take a final investment decision on the Jansen potash project around the middle of 2021, the company said Thursday in a presentation, pending finalization of port and rail arrangements and a final risk assessment. The first phase of development is seen costing between $5.3 billion and $5.7 billion, with initial production expected within five to six years.

Potash prices have rallied this year, boosted by the economic recovery from the Covid-19 pandemic. Nutrien Ltd., the world’s biggest fertilizer company, said earlier this month that it plans to boost its potash production by about half a million metric tons more than it previously expected this year amid strong global demand.

“Potash is a future-facing commodity that is positively leveraged to global mega-trends, including decarbonization,” Huw McKay, BHP’s chief economist, said on a conference call. “While the industry is currently subject to excess capacity, the demand trajectory is expected to absorb this overhang over the course of this decade.”

Demand could rise to as much as 97 million tons by 2035, from around 70 million tons currently, BHP said, with consumption expected to catch up with supply by the late 2020s or early 2030s. Canada was well placed to meet that demand growth, having more than half of the global reserve base. It already accounts for almost a third of global potash exports.

Read: BHP Runs Rule Over Troubled Potash Project as Decision Looms

Nutrien has been touted as a potential partner for BHP in Jansen, with the miner seen benefiting from Nutrien’s industry knowledge and marketing expertise. BHP has struggled with the project for years, having down-sized earlier plans for a bigger concept and already ploughed at least $4.5 billion into its development.

“Our decision on Jansen depends on more than just the fundamentals of potash,” said Ragnar Udd, president of BHP’s minerals Americas business. “We’re still finalizing a port, and that remains one of the key steps for us to work for,” he said. The group was considering either a commercial option at the port of Vancouver, or a purpose-built greenfield facility at the port.

BHP shares were down 1.5% at A$47.64 at 10:58 a.m. Sydney time on Thursday, compared to a 0.5% decline in the benchmark S&P/ASX 200 index.

(Adds executive comment in paragraph seven)

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

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

VANCOUVER, BC, June 17, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company) is pleased to announce a proposed non-brokered private placement financing for aggregate gross proceeds of up to $2,000,000 (the "Private Placement"). As part of the Private Placement, Crescat Capital LLC ("Crescat") has agreed to make a strategic investment in the Company and will have the right and option to participate in future financings to maintain its equity interest for a three-year period from the closing date of the Private Placement.

Kevin Smith, Crescat's Founder and Chief Investment Officer stated:

"Crescat's goal, at this stage of the cycle, is to identify and invest in a portfolio of premier exploration assets that the majors will need to replace their reserves after a decade of under-investment. We think Finlay is one of the most exciting silver stories in Canada today."

Robert Brown, President and CEO of Finlay Minerals Ltd stated:

"Finlay management is excited about dramatically moving forward with exploration on the Silver Hope project aided by the strategic investment of Crescat Capital. New exploration concepts were tested in 2020 and lead to the discovery of the new Equity East Zone, which will be one of the targeted areas in 2021."

The Private Placement will consist of: (i) up to 11,111,111 units (each, a "NFT Unit"), at a price of $0.09 per NFT Unit, with each NFT Unit comprising one common share of the Company (each, a "Unit Share") and one common share purchase warrant (each, a "Unit Warrant"); and (ii) up to 8,333,333 flow-through units ("FT Units"), at a price of $0.12 per FT Unit (the "FT Unit Price"), 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 shall entitle the holder thereof 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 issuance of each such Unit Warrant.

The Private Placement is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the TSX-V. Further, depending on market conditions, the Company may pay a finder's fee on a portion of the Private Placement in accordance with the rules and policies of the TSX-V. The Company expects to complete the Private Placement in one or more tranches.

The net proceeds from the Private Placement will be used to fund general and operating working capital, including Induced Polarization geophysical surveys of the 2020 newly discovered 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 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 Sable Resource's Baker Mine, has eight known copper-gold-molybdenum porphyry mineralized zones including several gold-silver epithermal structural systems.

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 goal is industry leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. 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 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.

Qualified Person:

Robert Brown, P.Eng. is the qualified person as defined by National Instrument 43-101 and has approved the technical content of this news release.

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

On behalf of the Board of Directors,

Robert F. Brown, P.Eng.,
President CEO 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. Forward-looking statements in this news release include statements regarding, among others, the anticipated closing of the Private Placement, the anticipated size of the Private Placement in one or more tranches, the anticipated size of the Private Placement, the participation by Crescat and equity ownership of Crescat, the receipt of 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/June2021/17/c9074.html

SOREL-TRACY, Quebec, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has started operations at a new commercial scale demonstration plant to produce high-quality scandium oxide at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec.

The $6 million project, in which the Government of Quebec contributed approximately $650,000 through the Quebec Plan for the Development of Critical and Strategic Minerals, was completed on time and on budget, less than six months after the start of construction.

Six employees have been hired to operate the plant, which uses an innovative process developed by RTFT to extract high purity scandium oxide from the waste streams of titanium dioxide production, without the need for any additional mining.

Commissioning work is now being undertaken as production ramps up to a capacity of three tonnes of scandium oxide per year. RTFT is already considering the potential for further investments to add additional modules in line with market demand.

Rio Tinto Iron and Titanium managing director Stéphane Leblanc said: "For the first time, customers will benefit from a North American supply of scandium oxide for applications in solid oxide fuel cells, lasers, lighting products or as an additive to produce high-performance alloys. In less than two years, we have gone from testing a process to extract this critical material in a lab to being able to supply approximately 20% of the global market. This is a testament to our team’s capacity to think outside the box and deliver on our commitments."

Quebec Minister of Energy and Natural Resources Jonatan Julien said: "I am very pleased to see this major critical and strategic minerals project come to fruition in Quebec. It will help strengthen the security of our supply and add value to our industrial waste from the mining sector. It is also consistent with the government's vision of creating wealth in a greener economy. I wish Rio Tinto Iron and Titanium and the team at this new plant every success!"

This project is part of a series of innovations supported by Rio Tinto’s Critical Minerals and Technology Centre in the field of critical minerals and materials, including the recent launch of a water atomized steel powder for 3-D printing applications.

With its world-class aluminium business, Rio Tinto is also well positioned to produce aluminium-scandium alloys to meet customer’s needs. In March, the company announced an agreement to provide a first batch of high-performance aluminium-scandium alloy from its North American operations to Amaero, a leader in metal additive manufacturing.

To learn more, visit www.elementnorth21.ca

Notes to editors

RTFT operates an open cast ilmenite mine at Lac Tio near Havre-Saint-Pierre, on Quebec’s North Shore. The ore is used to produce high-quality titanium dioxide feedstock, pig iron, steel and metal at RTFT’s metallurgical complex in Sorel-Tracy, Quebec. Together, the sites employ over 1,600 people.

RTFT has operated in Quebec for 70 years and pioneered the process of removing iron from ilmenite. In the last decade, RTFT has focused on developing, marketing and fine-tuning the UGS process, which produces slag with a very high titanium dioxide content sold to pigment producers.

Founded in 1967, RTFT’s Critical Minerals and Technology Centre conducts research on process improvement and develops new products. The Centre features state-of-the-art equipment and highly specialised instruments, such as inductively coupled plasma spectrometers, X-ray diffractometers, atomic absorption units, image analysers, scanning electron microscopes and powder metallurgy testing laboratory.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005667/en/

Contacts

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

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

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

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

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

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

riotinto.com

Category: RTFT

KELOWNA, BC, June 17, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") has commenced drilling at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.

Dr. Charles Fipke reports

Drilling Underway at Massive Sulphide Project

Cantex is pleased to announce that drilling has now commenced on its North Rackla project in the Yukon. Currently, two drills are working on testing the Main Zone at the Massive Sulphide project. One drill is testing the Central Target while the other is testing the depth extent of the mineralization discovered drilling from pad MZ51, the furthermost northeast drilling undertaken to date on the Main Zone.

The Company looks forward to a productive field season.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geo., 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: http://www.newswire.ca/en/releases/archive/June2021/17/c9757.html

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So when we looked at the ROCE trend of Fortescue Metals Group (ASX:FMG) we really liked what we saw.

What is Return On Capital Employed (ROCE)?

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Fortescue Metals Group:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.44 = US$9.5b ÷ (US$24b – US$2.9b) (Based on the trailing twelve months to December 2020).

Therefore, Fortescue Metals Group has an ROCE of 44%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 8.9%.

See our latest analysis for Fortescue Metals Group

In the above chart we have measured Fortescue Metals Group's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Fortescue Metals Group here for free.

The Trend Of ROCE

Fortescue Metals Group is showing promise given that its ROCE is trending up and to the right. The figures show that over the last five years, ROCE has grown 839% whilst employing roughly the same amount of capital. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.

The Bottom Line

As discussed above, Fortescue Metals Group appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. And a remarkable 950% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.

If you want to know some of the risks facing Fortescue Metals Group we've found 2 warning signs (1 is potentially serious!) that you should be aware of before investing here.

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

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.

Mining stocks fell on Wednesday after China's announcement to release metal reserves to curb commodity prices put miners under pressure. 

Major mining stocks weighed heavy on the FTSE 100 (^FTSE) after falling on the news. Rio Tinto (RIO.L) declined as much as 0.9% and is currently trading 0.7% lower. 

Anglo American (AAL.L) dropped 2% and Antofagasta (ANTO.L) was down 1.5%, Glencore (GLEN.L) crashed 2.8% and Evraz (EVR.L) declined 1.5%. BHP Group (BHP.L) also lost ground, dropping 1.1%. 

"With China having driven much of the upside seen in global commodity prices over the past year, their recent efforts aimed at easing the price pressures have clearly caused major ripples throughout the sector," said Joshua Mahony, senior market analyst at IG.

China said it would release the country's reserves of major industrial metals, including copper, aluminium and zinc in batches "in the near future". 

The country's stockpiling body – China’s National Food and Strategic Reserves Administration – said the move would ensure the supply and price stability of bulk commodities. 

The reserves will be released to non-ferrous metal processing and manufacturing firms via a public bidding process. It did not specify on quantities of metal to be sold, the auction process or which manufacturers will be allowed to bid.

Read more: The chip shortage bringing car factories to a standstill

It came as Chinese industrial data released on Wednesday showed production grew at a less than expected rates in May as chip shortages dragged down car production.

Industrial output grew at 8.8% year-on-year in May 2021, against expectations of 9.2% growth, according to data from the National Bureau of Statistics (NBS). Production was hit by a rise in COVID infections in Guandong province and fresh restrictions have impacted a number of electronic manufacturing plants located in the region, especially chips and semiconductors. 

"The declines in Chinese industrial production seen today highlight the pressure put on economic growth by rising input prices," said IG analyst Joshua Mahony. "With the Chinese announcing that they will start to periodically release reserves of aluminium, copper, and zinc, we are seeing that the country clearly has intentions to do all it can to quell the rise in commodity prices."

The State Council said in May that it would take measures to ensure supply and stable prices for commodities, and regulators had previously warned it would adopt a zero-tolerance policy to market manipulation or hoarding of metals.

The world's largest metals consumer has been struggling to tame a surge in metal prices this year fuelled by a post-COVID economic recovery, ample global liquidity and speculative buying that has dented manufacturers’ margins.

Watch: Could mining make a comeback in Cornwall?

MELBOURNE (Reuters) -BHP Group expects to present its board with a decision on whether to proceed with its Jansen potash project in Canada in a few months' time – rather than mid-year – after choosing between two port options, an executive said on Thursday.

The world's biggest miner has estimated the project in Saskatchewan province would cost up to $5.7 billion in its first phase. The project offers diversification into agriculture markets given that potash is a key element in plant nutrition that also makes crops more drought resistant.

"We are considering two options in terms of the port. One is a commercial option at the port of Vancouver, one is a greenfield option," said Ragnar Udd, president of BHP's Minerals America.

"We would like to have those locked in before we take them to the board," he said.

"We continue to expect that this (decision) will occur in the next, coming few months."

The miner expects the project will take five years to develop and have an annual production capacity of around 4.4 million tonnes of potash in its first phase. It will have capacity for an additional 12 million tonnes in stages thereafter for a life of 100 years.

Udd was speaking to investors about the outlook for the potash market, for which BHP expects demand to catch up with supply by late this decade or early next.

BHP estimated global production of potash was 76 million tonnes (Mt) in 2020, which could rise to 86 Mt when factoring in latent capacity.

It expects demand to grow by 15 Mt to around 105 Mt by 2040 or 1.5% to 3% a year, along with the global population and pressure to improve farming yields given limited land supply.

BHP sees operational expenditure at the Jansen potash mine at $100 per tonne and sustaining capital expenditure at $15 per tonne. It sees incentive pricing for new projects at $300 to $500 a tonne, with Canada the main supplier.

(Reporting by Melanie Burton; Editing by Richard Pullin and Christopher Cushing)

St. Paul, Minnesota–(Newsfile Corp. – June 16, 2021) – The board of directors of PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company"), re-elected Jon Cherry its chairman following the Annual General and Special Meeting of Shareholders in Vancouver, British Columbia and re-appointed Al Hodnik lead independent director.

In the annual meeting, which also was held virtually at www.virtualshareholdermeeting.com/PLM2021, 86.16% of the eligible shares were represented and all motions put forward by the company were passed.

The number of directors of the company was fixed at seven and the following persons were elected as directors of the company to hold office until the next annual general meeting. The voting results are shown below:

Deloitte & Touche LLP was re-appointed as auditors of the company and the board is authorized to fix the remuneration to be paid to the auditors.

PolyMet shareholders further re-approved the Omnibus Share Compensation Plan, as approved by shareholders in 2007, amended and restated and confirmed from time to time, most recently by shareholders in 2018.

Following the meeting, Mr. Cherry gave a presentation on achievements of the past year and goals for the future. Key achievements include:

• A continuing strong safety and environmental record that included an injury-free workplace in 2021 and complete compliance with the terms of PolyMet's environmental permits;

• Business continuity in spite of pandemic-related restrictions and no work-related illnesses;

• Favorable rulings by the Minnesota Supreme Court after the company petitioned the Court to review two lower court rulings. One of those cases regarded the Permit to Mine and dam safety permits, and the other, the air permit. Of the many questions decided by the court in both cases, PolyMet and state agencies prevailed in the vast majority of them, including the key legal issues in both cases;

• Successful defense of six of the 11 state and federal cases that have been brought against the project. The remaining five cases are in various stages of litigation or appeal, but are for the most part well advanced in the process; and,

• Continued environmental compliance with the conditions of PolyMet permits.

Mr. Cherry said key objectives for the months ahead include:

• Successful defense of outstanding cases challenging PolyMet permits, including a court-ordered contested case hearing related to the effectiveness of bentonite clay capping for eventual closure of NorthMet's tailings basin, and a potential hearing by the Army Corps of Engineers related to the state's water quality certification as it relates to our federal wetlands permit;

• Continued engineering and optimization of the project; and,

• Continued compliance of environmental permits.

"NorthMet will provide the metals that are critical to global carbon reduction efforts, and those solutions start with the build-out of clean energy technologies such as wind turbines, solar arrays and electric vehicles," Mr. Cherry told shareholders. "We remain committed to building the project as a modern and safe mining operation that generates the jobs and economic benefits we have promised, and returns value to our shareholders and the communities where we operate."

About PolyMet

PolyMet is a mine development company that owns 100% of the NorthMet Project, the first large-scale project to be permitted within the Duluth Complex in northeastern Minnesota, one of the world's major, undeveloped mining regions. NorthMet has significant proven and probable reserves of copper, nickel and palladium – metals vital to global carbon reduction efforts – in addition to marketable reserves of cobalt, platinum and gold. When operational, NorthMet will become one of the leading producers of nickel, palladium and cobalt in the U.S., providing a much needed, responsibly mined source of these critical and essential metals.

Located in the Mesabi Iron Range, the project will provide economic diversity while leveraging the region's established supplier network and skilled workforce, and generate a level of activity that will have a significant effect in the local economy. For more information: www.polymetmining.com.

For further information, please contact:

Media
Bruce Richardson, Corporate Communications
Tel: +1 (651) 389-4111
brichardson@polymetmining.com

Investor Relations
Tony Gikas, Investor Relations
Tel: +1 (651) 389-4110
investorrelations@polymetmining.com

PolyMet Disclosures

This news release contains certain forward-looking statements concerning anticipated developments in PolyMet's operations in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events, conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, and the effect on the local economy, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.

PolyMet's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.

Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet's most recent Annual Report on Form 40-F for the fiscal year ended December 31, 2020, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission.

The Annual Report on Form 40-F also contains the company's mineral resource and other data as required under National Instrument 43-101.

No regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

* * * * *

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87827

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 866 world-class investment firms that we track and now have access to the collective wisdom contained in these filings, which are based on their March 31st holdings, data that is available nowhere else. Should you consider Caterpillar Inc. (NYSE:CAT) for your portfolio? We'll look to this invaluable collective wisdom for the answer.

Caterpillar Inc. (NYSE:CAT) shares haven't seen a lot of action during the second quarter. Overall, hedge fund sentiment was unchanged. The stock was in 53 hedge funds' portfolios at the end of the first quarter of 2021. Our calculations also showed that CAT isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That's why at the end of this article we will examine companies such as Anheuser-Busch InBev SA/NV (NYSE:BUD), Rio Tinto Group (NYSE:RIO), and Sanofi (NYSE:SNY) to gather more data points.

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.

Ric Dillon of Diamond Hill Capital

At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, advertising technology one of the fastest growing industries right now, so we are checking out stock pitches like this under-the-radar adtech stock that can deliver 10x gains. We go through lists like the 10 best hydrogen fuel cell 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 view the latest hedge fund action encompassing Caterpillar Inc. (NYSE:CAT).

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

At first quarter's end, a total of 53 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 0% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards CAT over the last 23 quarters. With the smart money's capital changing hands, there exists an "upper tier" of noteworthy hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).

More specifically, Bill & Melinda Gates Foundation Trust was the largest shareholder of Caterpillar Inc. (NYSE:CAT), with a stake worth $2355 million reported as of the end of March. Trailing Bill & Melinda Gates Foundation Trust was Fisher Asset Management, which amassed a stake valued at $1487.4 million. Citadel Investment Group, Diamond Hill Capital, and Adage Capital 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 Bill & Melinda Gates Foundation Trust allocated the biggest weight to Caterpillar Inc. (NYSE:CAT), around 11.24% of its 13F portfolio. NWI Management is also relatively very bullish on the stock, dishing out 4.83 percent of its 13F equity portfolio to CAT.

Because Caterpillar Inc. (NYSE:CAT) has experienced bearish sentiment from the aggregate hedge fund industry, it's safe to say that there lies a certain "tier" of fund managers that decided to sell off their positions entirely by the end of the first quarter. At the top of the heap, Dmitry Balyasny's Balyasny Asset Management sold off the biggest investment of the 750 funds watched by Insider Monkey, worth an estimated $19.1 million in stock, and Till Bechtolsheimer's Arosa Capital Management was right behind this move, as the fund dumped about $10.9 million worth. These moves are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let's check out hedge fund activity in other stocks – not necessarily in the same industry as Caterpillar Inc. (NYSE:CAT) but similarly valued. These stocks are Anheuser-Busch InBev SA/NV (NYSE:BUD), Rio Tinto Group (NYSE:RIO), Sanofi (NYSE:SNY), The Charles Schwab Corporation (NYSE:SCHW), Applied Materials, Inc. (NASDAQ:AMAT), TOTAL S.A. (NYSE:TOT), and International Business Machines Corp. (NYSE:IBM). This group of stocks' market values resemble CAT's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position BUD,18,979916,0 RIO,25,1596509,-1 SNY,15,1142178,0 SCHW,76,4905041,15 AMAT,78,5711193,17 TOT,17,1163601,3 IBM,41,1355701,-10 Average,38.6,2407734,3.4 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 38.6 hedge funds with bullish positions and the average amount invested in these stocks was $2408 million. That figure was $4956 million in CAT's case. Applied Materials, Inc. (NASDAQ:AMAT) is the most popular stock in this table. On the other hand Sanofi (NYSE:SNY) is the least popular one with only 15 bullish hedge fund positions. Caterpillar Inc. (NYSE:CAT) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for CAT is 60.4. 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 positive signal but 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 17.2% in 2021 through June 11th and beat the market again by 3.3 percentage points. Unfortunately CAT wasn't nearly as popular as these 5 stocks and hedge funds that were betting on CAT were disappointed as the stock returned -4.4% since the end of March (through 6/11) 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 many of these stocks already outperformed the market since 2019.

Get real-time email alerts: Follow Caterpillar Inc (NYSE:CAT)

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

Follow Insider Monkey on Twitter

Related Content

• How to Best Use Insider Monkey To Increase Your Returns

• 10 Best Penny Stocks To Buy Now

• 10 Best Stocks To Invest In Right Now

• Strongly recommends that shareholders vote only the GOLD proxy FOR all six of Fancamp’s exceptionally qualified director nominees by 1:00 p.m. ET on Friday, June 25, 2021. Shareholders with questions on voting should contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.

• Letter contrasts Fancamp’s new action-oriented, three-pronged strategy for growth to Peter H. Smith’s 34 years of wasted money, failed exploration projects, and repeated breaches of fiduciary duties.

• Shareholders are encouraged to read the complete letter and the ScoZinc transaction FAQs on the Corporation’s website: fancamp.ca/thefutureisbright/lettertoshareholders.

• Shareholders are also encouraged to see Fancamp’s plan in action and to learn more about our exceptionally qualified and experienced director nominees.

VANCOUVER, British Columbia, Jun 16, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) today announced that further to its management information circular filed on June 2, 2021, it has released another important letter to shareholders as well as an accompanying FAQ on the transaction with ScoZinc Mining Ltd.

The letter outlines Fancamp’s action-oriented, three-pronged strategy for growth, and strongly recommends that shareholders vote only the GOLD proxy FOR all six of Fancamp’s exceptionally qualified and experienced director nominees: Mark Billings, Rajesh Sharma, Ashwath Mehra, Paul Ankcorn, Charles Tarnocai and Dean Journeaux.

The letter also warns shareholders not to risk giving Mr. Smith another 90 days to come up with a plan when they have already given him 34 years with nothing to show.

Highlights from Fancamp’s Latest Letter to Shareholders

• For 34 years, Mr. Smith was in charge of Fancamp, holding positions including Chairman, Director, President and CEO. Over the decades, there have been many changes at the director and management levels, but until recently, the one constant was Mr. Smith.

• In those 34 years, Mr. Smith operated in secret from the Board of Directors (the "Board"), made no discoveries, destroyed shareholder value, entered lopsided deals to enrich his friends and associates, and treated Fancamp’s money as his personal bank account.

• When the current Board uncovered the truth, they held Mr. Smith accountable, asking him to step down in August 2020, then terminating his consulting agreement for cause in April 2021. They are now in the middle of a forensic investigation that is uncovering and confirming further issues.

• Now, after escaping decades of mismanagement, Fancamp is finally on the right path to deliver shareholder value and returns under the leadership of current management and a rejuvenated, governance-focused Board.

• Since being appointed CEO in September 2020, Rajesh Sharma, along with the Board, has completed a comprehensive strategic review of Fancamp’s mineral properties and other assets, and developed a three-pronged strategy for growth focused on Exploration Targets, Titanium Technology, and Strategic Alternatives, acquiring projects that have the potential for near-term cash flow, such as the ScoZinc Scotia Mine.

• The ScoZinc Scotia Mine is expected to demonstrate a free cash flow of approximately $8.4 million in the first year of commercial production alone.

• In contrast, Mr. Smith’s handpicked slate of self-serving activist nominees have aligned themselves with someone who had 34 years to create value but delivered none. Now they are asking for just 90 more days.

• Mr. Smith has proven he is not up to the job of leading your Corporation, yet he is still asking you to vote for him because – suddenly, after 34 years – he now has a ‘plan.’

• Mr. Smith states he will "re-establish valuable relationships…":This mean Mr. Smith will go back to enriching his friends and associates, such as the geologist he continually used to conduct various exploration activities without providing full disclosure to the Board. This is the same geologist who invoiced Fancamp over $227,678, some of which were payments for his wife and personal vehicle.

• Mr. Smith claims he will create "much needed corporate charters and policies that will define exactly how the board will discharge its duties…": Almost all of the charters and policies exist, but Mr. Smith simply chose to ignore them, despite being at the helm of Fancamp – including as Chairman – for decades and oversaw their creation and implementation.

• Mr. Smith claims he will give new management "a clear mandate and budget…": Many of the current problems facing the Corporation, including the costly and unnecessary proxy fight currently in progress, could have been avoided had Mr. Smith had this inclination when he was president and CEO. The current Board repeatedly asked Mr. Smith to provide formal budgets and to obtain Board approval prior to spending shareholders’ money. Mr. Smith repeatedly refused. Why should anyone believe things will be different this time?

• Mr. Smith claims he will "initiate a marketing strategy to communicate the value of the Company to financial institutions and retail investors.":Creating open lines of communications is already well underway thanks to the current management team. The management team has:

  • Engaged external investor relations expertise;

  • Created a new inquiries mailbox so shareholders can submit questions or comments at their convenience;

  • Established social media accounts to connect with shareholders and share the latest news;

  • Launched an email distribution to keep shareholders informed; and

  • Developed a new website, an important channel for shareholders to obtain materials on Fancamp – after multiple requests to Mr. Smith, who blocked management’s access to the previous website.

• If elected, Mr. Smith claims his ‘plan’ will allow his handpicked nominees and management team "time to figure out exactly what we have on hand. The ultimate goal of this exercise will be to develop technically solid targets on several properties…": As stated above, this work is well underway thanks to the current management team and Board.

When reviewing Mr. Smith’s ‘plan,’ shareholders should ask themselves:

• Mr. Smith was an executive at Fancamp for 34 years and led the Corporation’s exploration; why doesn’t he already know what Fancamp has on hand?

• Mr. Smith had 34 years to develop technically solid targets; why is he only just creating them now?

• And Mr. Smith had 34 years; why does he need MORE time to figure things out?

See Fancamp’s Plan in Action and Meet Our Qualified Director Nominees

In contrast to Mr. Smith’s history of value destruction and wasted money, Fancamp and its exceptionally qualified and experienced director nominees have an action-oriented, three-pronged growth strategy to enhance shareholder value and increase returns.

Watch here:

• Video: Fancamp’s Plan for Growth and Shareholder Value

• Video: Our Experienced Directors

VOTE YOUR GOLD PROXY TODAY – Deadline: Friday, June 25, 2021 at 1:00 p.m. ET

Only your vote can stop Mr. Smith from taking back control of the Corporation.

Vote FOR Fancamp’s director nominees to move forward and create value. Voting is fast and easy – please vote well in advance of the deadline. If you have any questions or need help voting, contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.

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 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 in this news release includes, but is not limited to, information and statements relating to the Corporation’s annual general meeting, and objectives, goals or future plans. 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, 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/20210616005782/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
Hyunjoo Kim
Director, Communication, Marketing & Digital Strategy
Kingsdale Advisors
Phone: 416-867-2357
Cell: 416-899-6463
Email: hkim@kingsdaleadvisors.com

MELBOURNE (Reuters) -BHP expects to present its board with a decision in a few months on whether to go ahead with its Jansen potash project in Canada after choosing between two port options, a company executive said on Thursday.

The world's biggest miner has estimated the project in Saskatchewan province would cost up to $5.7 billion in its first phase. The project offers BHP diversification into agricultural markets given that potash is a key element in plant nutrition that also makes crops more drought resistant.

"We are considering two options in terms of the port. One is a commercial option at the port of Vancouver, one is a greenfield option," Ragnar Udd, president of BHP's Minerals America, told investors on Thursday.

"We would like to have those locked in before we take them to the board. We continue to expect that this (decision) will occur in the next, coming few months," he added.

Chief Executive Mike Henry said at its half year results investor call that although BHP has said a decision would be made mid-2021 it was now maybe "a slightly wider range".

The miner expects the potash project will take five years to develop and have an annual production capacity of around 4.4 million tonnes in its first phase. It will have capacity for an additional 12 million tonnes thereafter for a life of 100 years.

Udd was speaking to investors about the outlook for the potash market, for which BHP expects demand to catch up with supply by late this decade or early next.

BHP estimated global production of potash was 76 million tonnes (Mt) in 2020, which could rise to 86 Mt when factoring in latent capacity.

It expects demand to grow by 15 Mt to around 105 Mt by 2040 or 1.5% to 3% a year, along with the global population and pressure to improve farming yields given limited land supply.

BHP sees operational expenditure at the Jansen potash mine at $100 per tonne and sustaining capital expenditure at $15 per tonne. It sees incentive pricing for new projects at $300 to $500 a tonne, with Canada the main supplier.

(Reporting by Melanie Burton; Editing by Richard Pullin, Christopher Cushing and Alexander Smith)

Vancouver, British Columbia–(Newsfile Corp. – June 16, 2021) – David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or the "Company") is pleased to announce that the Company has engaged Precision GeoSurveys Inc. ("Precision") of Langley, British Columbia to perform a detailed airborne magnetic survey over the Company's 100% owned Wheaton Creek Gold property (the "Property), located in Skeena Mining Division of Northern British Columbia.

The survey will consist of approximately 305-line kilometres flown at 100-metre spacings utilizing Precision's exclusive triple boom magnetic gradient tool. The Property partially overlies the Cache Creek Ultramafic Complex which is known to host prolific ophiolite mesothermal high grade gold quartz veins in the historic Atlin Mining Camp, located approximately 300 km north west of the Property. The survey objective is to refine drill targets by outlining the contact boundary between the magnetic ultramafic Cache Creek Complex and sedimentary rocks. Mesothermal gold mineralization is typically located along the contact boundaries in association with listwanite deposition.

Given the critical importance of the geophysical information for guiding future drilling on the Property, the decision was taken to complete the survey first and delay drilling until later in the summer. The airborne survey is expected to be completed the week of June 14, 2021.

Pacific Bay's Vice President of Exploration, Sebastien Ah Fat, explains, "The Atlin Mining Camp is a significant producer of placer gold in British Columbia where the source of placer gold was found to be located in proximity to the placer mines; near contact or at boundaries of ultramafic and sedimentary rock. The similarities in geology between Atlin and Wheaton Creek as well as the presence of significant placer gold mining operations at Wheaton Creek lead us to believe there is significant potential to discover high grade mesothermal gold mineralization at the Property."

In conjunction with the commencement of the airborne magnetic survey, the Company's VP of Exploration, Sebastien Ah Fat, and VP of Operations, Antonio Vespa, will be conducting a site visit to perform reconnaissance at the Property this week. The site visit objective is to gather information and prepare the Property for further exploration activities, including a geochemical soil survey and diamond drilling, later this summer.

Figure 1: Wheaton Creek Property map with Geology

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3362/87647_a6901568248938fd_002full.jpg

Wheaton Creek Highlights:

• 3,019 hectares of mineral tenures 100% owned by the Company

• 1986 drillhole 86-01 intercepted 5.38 grams per tonne of gold over 3.05 metres with visible gold

• 5-year multi-year area based (MYAB) permit in good standing

• Notice of work (NOW) application approved

Note: all above reported intercepts are core lengths only as the true width of the structures has not yet been determined.

Sebastien Ah Fat, P.Geo., a Qualified Person as defined by National Instrument 43-101, approved the technical information in this release.

On Behalf of the Board of Directors

David Brett, CEO
dbrett@pacificbayminerals.com
(604) 682-2421

Helder Carvalho, Vice President, Corporate Development
hcarvalho@pacificbayminerals.com

This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to the expected use of proceeds of the Financing. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Pacific Bay will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although Pacific Bay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. Pacific Bay does not undertake to update any forward‐looking statements, except in accordance with applicable securities laws.

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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87647

European stocks were mixed on Wednesday as UK inflation surged past the Bank of England (BoE) benchmark and investors awaited the US Federal Reserve interest rate announcement later in the day. 

The FTSE 100 (^FTSE) pared back some losses to trade 0.2% up in afternoon trade in London. The index was dragged lower by commodity stocks earlier in the day as China put miners under pressure after announcing that it would release metal reserves. 

Rio Tinto (RIO.L) declined as much as 0.9% and was trading 0.7% lower. Anglo American (AAL.L) dropped 2% and Antofagasta (ANTO.L) was down 1.5%, Glencore (GLEN.L) crashed 2.8% and Evraz (EVR.L) declined 1.5%. BHP Group (BHP.L) also lost ground, dropping 1.1%.

It comes after official figures showed on Wednesday that the cost of living rose to the highest level since 2019 in May. According to Office for National Statistics (ONS) data, the UK's consumer price index (CPI) jumped to 2.1%, above the 2% BoE target. Analysts expected it to rise to 1.8%, from April's 1.5%. 

Transport made the largest annual upward contribution to inflation. Rising prices for fuels, clothing, recreational goods such as games and recording media and meals pushed the rate higher on a monthly basis, rising 0.5% in May alone. 

Watch: What is inflation and why is it important?

"The Bank of England was always expecting inflation to overshoot its target this spring, but it has taken the position that this is a short-term blip caused by rock-bottom prices a year earlier, and as soon as they naturally fall out of the figures, inflation will drop away again," said Sarah Coles, personal finance analyst at Hargreaves Lansdown. "It isn’t worried by the rise and it isn’t expecting to raise interest rates in the immediate future to bring it back down again."

Sterling rose sharply following the news – it was up 0.3% against the euro to €1.1646 (GBPEUR=X) just after 8AM in London and up 0.3% against the dollar to $1.4118 (GBPUSD=X).

Read more: Pound rises as soaring UK inflation puts pressure on the BoE to act

Elsewhere on the continent, France’s CAC (^FCHI) was up 0.2%, and the DAX (^GDAXI) was trading 0.1% lower in Germany.

Oil prices were rallying as investors bet on a looming supply crunch, with both benchmarks rising to record highs in recent days after hitting rock bottom last year. Crude (CL=F) was trading up 0.6% to $72.52 (£51.36) and Brent (BZ=F) was also up 0.6% to $74.41 at around 8:30AM in London.

Across the Atlantic, US stocks opened mixed as investors kept a close tab on whether the Federal Reserve will stick with its dovish stance as optimism in America’s economy grows, and for any hint of chair Jerome Powell paring back the bond-buying programme.

Wall Street’s blue-chip S&P 500 (^GSPC) was flat after the opening bell on Wednesday, the Dow Jones (^DJI) fell over 0.1%, and the tech-heavy Nasdaq (^IXIC) curbed the trending rising 0.3%. 

The Fed is back in the fray and its two-day monetary policy meeting is the big event that could indicate whether the US central bank will tweak its interest rates outlook. The Federal Open Market Committee (FOMC) kicked off its meeting on Tuesday and Powell is expected to make concluding remarks on Wednesday.

Watch: Will interest rates stay low forever?

Economic indicators across the board have shown signs of improvement, most notably the US vaccination push, which reduced mortality rates. This comes against a backdrop of falling jobless claims, surging purchasing managers’ index (PMI) data and a spike in non-farm payrolls.

While jobless claims have dropped to pandemic lows, the headline non-farm figure has repeatedly failed to match estimates in the last few months. This is important as Powell said he needs to see a "string of strong jobs reports" to consider tapering the Fed’s current stimulus programme.

"That topic of transitory inflation will be key as we look towards the FOMC meeting today, with the Fed looking unlikely to move the dials this time around," said Joshua Mahoney, senior market analyst at IG. "Instead, there is likely to be a focus on the latest dot plot and inflation projections, alongside questions around to what degree the Fed have discussed tapering in forthcoming meetings."

Dot plot is the Fed's guidance for how they expect to raise rates in the future.

Asian stocks struggled overnight. The Nikkei (^N225) fell 0.5% in Japan after figures showed the country's trade surplus jumped 49.6% last month, compared with the year before. 

Meanwhile, the Hang Seng (^HSI) fell 0.7% and the Shanghai Composite (000001.SS) closed the session just over 1% lower.

Watch: What are SPACs?

Rio Tinto shows improving price performance, earning an upgrade to its IBD Relative Strength Rating.

MELBOURNE, Australia, Jun 15, 2021–(BUSINESS WIRE)–Rio Tinto has partnered with the Australian Renewable Energy Agency (ARENA) to study whether hydrogen can replace natural gas in alumina refineries to reduce emissions.

Rio Tinto will conduct a $1.2 million feasibility study, equally funded with ARENA through a $580,000 grant, into using clean hydrogen to replace natural gas in the calcination process of refining at the Yarwun aumina refinery in Gladstone.

The study program includes work to be done at Rio Tinto’s Bundoora Technical Development Centre in Melbourne, where Rio Tinto’s in-house development capability has now been extended to hydrogen.

ARENA CEO Darren Miller said "If we can replace fossil fuels with clean hydrogen in the refining process for alumina, this will reduce emissions in the energy and emissions intensive refining stage of the aluminium supply chain. Exploring these new clean energy technologies and methods is a crucial step towards producing green aluminium.

"This study will investigate a potential technology that can contribute to the decarbonisation of the Australian alumina industry. If successful, the technical and commercial lessons from Rio Tinto’s study could lead to the implementation of hydrogen calcination technology, not only in Australia, but also internationally."

Rio Tinto Aluminium Pacific Operations acting managing director Daniel van der Westhuizen said "We see the ARENA and Rio Tinto-funded study as a step towards reducing refinery emissions and one that has the potential to play an important part in Rio Tinto’s commitment to decarbonisation.

"We’re investing in work that needs to be done, not only to decarbonise one of our sites, but also to help provide a lower-emissions pathway for Rio Tinto and the global aluminium industry.

"We recognise we are on a long road towards reducing emissions across our operations and there is clearly more work to be done. But projects such as this are an important part of helping us get there."

The study comprises two distinct work packages:

• Preliminary engineering and design study conducted to understand the construction and operational requirements of a potential demonstration project at the Yarwun alumina refinery.

• Simulating the calcination process using a lab scale reactor at the Bundoora Technical Development Centre.

Once complete, the study will inform the viability of a potential demonstration project. Rio Tinto has lodged patents for the hydrogen calcination process.

Rio Tinto is aiming to reach net zero emissions across its operations by 2050. Across the company, it is targeting a 15% reduction in absolute emissions and a 30% reduction in emissions intensity by 2030, from a 2018 baseline.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005510/en/

Contacts

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

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

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

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

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

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

riotinto.com

Category: General

CRANBROOK, BC / ACCESSWIRE / June 15, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL)("EPL" or "Eagle Plains") has mobilized crews to commence exploration fieldwork on the Dictator Project, located 70km east of Vernon, B.C. (the "Property"). EPL holds the exclusive right to obtain a 100% interest in the property (details below). Current fieldwork will consist of prospecting and soil geochemical sampling which follows a 2-Phase airborne magnetometer survey carried out by Eagle Plains in late 2020 and early 2021. The survey outlined two prominent magnetic features within an area where high-grade gold mineralized float boulders were located during the summer of 2020. Permitting is underway for future diamond drilling, with program scope to be determined based on results from the current program. 2021 program work will be managed by TerraLogic Exploration Services of Cranbrook, BC.

See Dictator Project Location Map here

The Dictator Property is road-accessible and located within rocks of the prolific Quesnellia Terrane, host to many major B.C. porphyry deposits such as Highland Valley, Gibraltar, Mount Polley, Mount Milligan, Copper Mountain and others. Despite the rich endowment of mineralization in these rocks, the Dictator area has seen relatively little exploration activity by industry or government. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Dictator property.

See Dictator Regional Projects Map here

The Property consists of 6 tenures comprising 2578 ha overlying Jurassic-aged porphyritic intrusive rocks that are host to parallel gold-bearing veins that have seen limited past production at the Dictator and Morning occurrences. During a property inspection carried out by Eagle Plains personnel in Summer, 2020, grab samples from the Morning workings ranged from trace values to a high of 39.4 g/t gold and 912 g/t silver (sample TTLPR016*) and 1.31 g/t gold, 205 g/t silver, 1.88% lead, 5.03% zinc and 0.12% cadmium (sample TTLPR015*).

Prospecting in 2020 resulted in the discovery of numerous float boulders containing brecciated semi-massive sulphides that consistently contain highly elevated gold, lead and zinc mineralization with values ranging from trace quantities to a high of 5.84 g/t gold, 30.6 g/t Ag, 3680 ppm lead and 674 ppm zinc (sample TTLPR010*-float boulder). The source of the boulders is unknown and will be the focus of ongoing work. *Management cautions that rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

Over the winter of 2020/2021, Eagle Plains carried out two airborne geophysical (magnetometer) surveys which outlined two prominent magnetic features which appear to be related to known mineralization and also correspond with the area within which mineralized float boulders were located.

See Dictator Airborne Geophysical Results Map here

Dictator Option

Eagle Plains holds the exclusive option with Aurum Vena Mineral Resources Corp. of Cherryville, BC, whereby EPL may earn up to a 100% interest in the Dictator (formerly Lightning Peak) Property. Under terms of the agreement, EPL will make exploration expenditures totalling $150,000, cash payments of $70,000 and share payments of 250,000 shares over a four-year period to earn its interest. A one percent net smelter return royalty will be reserved for the vendor, which may be purchased by Eagle Plains for $1M.

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and a Director of Eagle Plains Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

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, the majority 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/651469/Eagle-Plains-Commences-Exploration-Activity-at-Dictator-Gold-Project-South-central-British-Columbia

Chart of the Week

– New Mexico’s oil production hit a record high in March 2021, averaging 1.16 mb/d, and natural gas output hit 6.19 Bcf/d.

– The March increases were the largest monthly increases on record (although some of the gains came from restarted wells that shuttered during the February blackouts).

– In 2020, New Mexico’s oil production rose by 133,000 bpd, or 15%.

Market Movers

• BP BP is aiming to enter offshore wind in Norway.

• Earthstone Energy ESTE announced that it has acquired working interests in Eagle Ford assets for $48 million in cash.

• Six oil majors are vying to partner with Qatar to develop the country’s natural gas fields and LNG projects. The list includes ExxonMobil XOM, Royal Dutch Shell RDS.A, Total Energies SE TOT, ConocoPhillips COP, Eni E, and Chevron CVX

Tuesday, June 15, 2021

Oil prices are up at the start of the week on growing demand optimism. “Oil prices really are in a positive June upswing as demand and supply are recovering in an unequal speed,” Rystad’s Louise Dickson said in a statement.

Oil prices hit 32-month high. Oil prices rose early on Monday, with the U.S. benchmark hitting a 32-month high and Brent rising above $73 per barrel as the market is growing increasingly bullish on-demand while the return of Iranian oil looks more distant than initially thought.

Shell considers selling Permian assets. Royal Dutch Shell RDS.A is considering a sale of its Permian assets, hoping to rase $10 billion. Shell’s Permian operations produced 193,000 barrels of oil equivalent per day in 2020, or about 6% of the company’s total output.

Shipping costs driving up prices. The skyrocketing costs of shipping are driving up prices for commodities across the globe. Shipping costs are up 547% relative to the seasonal average for the last five years.

Investors see green push leaving oil market short on supply. Bets from hedge funds and money managers are becoming more bullish, and analysts say that a growing number of investors see a supply shortage coming as a global push for energy transition leaves the world short on oil supply in the years ahead. “This is the basis for the next oil crisis,” Leigh Goehring, managing partner at commodities-focused investment firm Goehring & Rozencwajg Associates, told the WSJ. “We’re in uncharted territory.”

RBC: U.S. shale might be needed. RBC argues that OPEC+ may not have enough spare capacity to satiate the market next year, and more U.S. shale supply might be needed. “In the event that the U.S. remains status quo and does not grow next year, global stocks could be nearly 400 million barrels lower, from entry to exit in 2022,” wrote Michael Tran, commodity strategist at RBC Capital Markets. “Put another way, market balances only begin to reach a state of equilibrium if U.S. production grows by 1.2 million bpd next year. Anything short of that and balances will remain tight. And this comes after virtually all of OPEC+ spare capacity has returned to the market.”

G-7 call for end of coal finance. G-7 countries did not agree on a full phaseout of coal, but agreed to cut off government-backed financing for new coal projects that lack carbon capture. G-7 countries also agreed on a goal to cut emissions in half by 2030.

G-7 backs away from EV target. The G7 nations failed to set targets for EV sales in their push towards the electrification of transport at their latest meeting, pledging only to “intensify efforts in enhancing the offer of more sustainable transport modes”, the group said in its final communiqué today.

Nevada lithium project delayed. Lithium Americas Corp LAC delayed a highly-anticipated lithium mining project in Nevada while a court reviews whether the project was hastily approved during the Trump administration.

Commodity traders bet on Russian oil. Two commodity trading giants are betting big on a Russian oil project in a rare move that could make or break the oil traders’ fates – and oil market observers should be paying close attention.

Equinor ups renewables investment. Equinor EQNR outlined a strategy to ramp up renewables, setting a goal of having 50% of capex go to renewables by 2030, compared to 4% last year. It aims to have 12-16GW of renewables installed by that date. But the company declined to set declining targets for oil and gas production.

Natural gas prices shoot up. A heatwave in multiple parts of the U.S. has pushed up natural gas futures, with July Nymex contracts rising to $3.35/MMBtu.

Europe turns to coal as gas grows scarce. Coal use in Europe is up 10-15% this year due to cold weather and low natural gas inventories.

Lumber prices falling. Lumber prices staged a historic rally in recent months, but prices are now crashing, down by 42% since early May. “The rapid decline suggests a bubble that has burst and the question now is how low lumber prices will fall,” the Wall Street Journal wrote.

Related: Oil Markets Baffled As The IEA Calls For More Production

BofA: Exxon probably will raise its dividend. Bank of America believes shareholders who voted in favor of the board shake-up were likely focused on one thing: the dividend.

Japan bets on hydrogen. Japan is making a long-term bet on hydrogen, which critics view as unrealistic, but if it succeeds, could help build out a global supply chain.

Saudi Aramco borrows to fund its dividend. Saudi Aramco returned to the global debt market to raise cash despite higher oil prices, raising $6 billion in Islamic bonds. Aramco generated $18.3 billion in free cash flow in the first quarter, just short of the $18.75 billion in dividends it shelled out.

Biden administration looks to auction offshore wind tracts in NJ. The Biden administration on Friday announced that it would begin the formal process of selling leases to develop offshore wind farms in shallow waters between Long Island and New Jersey as part of its push to transition the nation to renewable energy.

Oil demand could surge by 8 mb/d. S&P Global Platts Analytics expects global oil demand to surge by 8.2 million b/d from May to August as major economies continue to recover from the pandemic.

Renewable energy’s employment problem. As the world reopens and the global and national economies begin to return to normal, the clean energy industry has run into the same problem as so many other economic sectors–there just aren’t enough workers.

The biggest threat to Europe’s battery boom. Weak carbon dioxide (CO2) emission rules for car sales across the European Union and the UK in the near term risk undermining what is shaping up to be a booming battery manufacturing industry in Europe, a clean transport campaign group has warned.

By Josh Owens for Oilprice.com

More Top Reads From Oilprice.com:

• Middle East Oil Prices Rise As Global Demand Recovers

• Not All Electric Vehicle Companies Are Created Equal

• Goldman Sachs Doubles Down On $80 Oil Prediction

Read this article on OilPrice.com

VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE: PVG) (“Pretivm” or the “Company”) today announced that it continues to intersect high grade gold mineralization in Phase 2 of the North Block resource expansion drill program at the Brucejack Mine in British Columbia.

Following up on the success of the Phase 1 drill program (see news release dated February 25, 2021) Pretivm initiated a second phase of drilling to test the extension of the North Block Zone to the northwest. The Phase 2 program identified high-grade gold mineralization with five intersections assaying above 1,000 grams per tonne gold. Results include, drill hole VU-2933 which assayed 561.6 grams per tonne gold over 15.0 meters, including 8,400 grams per tonne gold over 1.0 meter. In addition, drill hole VU-2932 assayed 306.6 grams per tonne gold over 19.5 meters, including 5,910 grams per tonne gold over 1.0 meter. High grade gold mineralization was intercepted up to 450 meters from the current resource shell.

“These impressive results confirm high-grade gold mineralization in the North Block Zone and further extend the potential of the Valley of the Kings deposit at Brucejack,” said Jacques Perron, President and Chief Executive Officer of Pretivm. “Based on the success of the second phase, we have initiated a third and fourth phase of the drill program to further delineate the potential of the North Block Zone.”

The North Block Zone is located directly to the north of the Valley of the Kings deposit. The resource expansion exploration program is designed to test for Valley of the Kings style mineralization to the north and at depth. Phase 2 of the program was drilled from the 1150 and 1070 levels in the mine, targeting an area extending up to 450 meters north of the current resource shell. Phase 3 of the program will infill between the existing drill fans and the newly designed Phase 4 of the program will test an area immediately to the northwest of the current drilling.

North Block – Phase 2 Results

Phase 2 of the North Block resource expansion drill program comprised 22,964 meters in 83 drill holes. Drilling from the 1150 level intersected the extension of the Domain 13 Stockwork, which is currently being mined in the Valley of the Kings. Drilling from the 1070 level intersected the recently identified corridor of gold mineralization in the footwall of the Domain 13 structure. This corridor features coarse electrum in northwest oriented quartz-carbonate veins within a broader halo of lower grade gold mineralization.

For a plan and section view of the 2020 North Block Phase 2 program please see the following link: http://ml.globenewswire.com/Resource/Download/a0d0b719-e832-45c0-b1a2-c18be5099170.

Significant drill results are shown below:

• Hole VU-2933 intersected 561.6 grams per tonne gold over 15.0 meters, including 8,400 grams per tonne gold and 4,900 grams per tonne silver over 1.0 meters.

• Hole VU-2932 intersected 306.6 grams per tonne gold over 19.5 meters, including 5,910 grams per tonne gold and 3,400 grams per tonne silver over 1.0 meters.

• Hole VU-2962 intersected 191.6 grams per tonne gold over 14.0 meters, including 1,795 grams per tonne gold and 1,375 grams per tonne silver over 1.0 meters.

• Hole VU-2859 intersected 31.6 grams per tonne gold over 51.0 meters, including 1,515 grams per tonne gold over 1.0 meters.

• Hole VU-2967 intersected 61.7 grams per tonne gold over 17.5 meters, including 993 grams per tonne gold over 1.0 meters.

2021 Resource Expansion Drilling and Near-Mine Exploration Program

The resource expansion drill program is currently targeting the North Block Phase 3 and Phase 4 and the 1080 East Zone. In early July, two drills from underground will be repositioned to complete a 13,000-meter resource expansion drill program at Gossan Hill from surface. At the Bridge Zone, 11,000-meters of underground resource expansion drilling is expected to start in late August.

The near-mine exploration program is expected to start in mid-June with two additional drills on surface. The program will focus first on exploration targets at Shore Zone and SG Zone. Then, to follow up on the successful discovery of epithermal style gold mineralization at Hanging Glacier, a 10,000-meter drill program will be initiated in late July (see news release dated December 16, 2020).

In addition to drilling, the near-mine exploration program will include a UAV magnetic survey, MT and IP geophysical surveys, soil sampling and prospecting over the four-kilometer trend from Brucejack to Hanging Glacier.

Stephanie Wafforn, P.Geo., Pretivm’s Resource Manager is the Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for the Mineral Resource expansion drill program and the near-mine exploration program and has reviewed and approved the scientific and technical information in this news release related thereto.

Table 1: Selected North Block Phase 2 Results, June 2021 (VU-2762 to VU-2969)^(1,2)

⁽¹⁾ True thickness to be determined.
⁽²⁾ All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP-MS finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. ALS Chemex is independent of Pretivm.

About Pretivm

Pretivm is an intermediate gold producer with the high-grade gold underground Brucejack Mine.

For further information contact:

Troy Shultz
Manager, Investor Relations &
Corporate Communications

Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
invest@pretivm.com
(SEDAR filings: Pretium Resources Inc.)

Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as “forward-looking information”), including the “safe harbour” provisions of Canadian provincial securities legislation and the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the U.S. Securities Act of 1933, as amended. Wherever possible, words such as “plans”, “expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “modeled”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking information. Forward-looking information may include, but is not limited to: results, analyses and interpretations of exploration and drilling programs; our mining (including mining methods), expansion, exploration and development activities, including the reverse circulation drill program, our definition, sustaining, expansion and underground exploration drill programs and our grassroots exploration program, and the plans, specifications, targets, results, benefits, costs and timing thereof; expectations around grade of gold and silver production; Brucejack Mine production rate and gold recovery rate; our operational grade control program, including plans with respect to our infill drill program and our local grade control model; grade reconciliation, updated geological interpretation and mining initiatives with respect to the Brucejack Mine; our management, operational plans and strategy; capital, sustaining and operating cost estimates and timing thereof; the future price of gold and silver; our liquidity and the adequacy of our financial resources (including capital resources); our intentions with respect to our capital resources; capital allocation plans; the estimation of mineral resources and mineral resources including any updates thereto; parameters and assumptions used to estimate mineral resources and mineral resources; realization of mineral resource and mineral resource estimates; our estimated life of mine and life of mine plan for the Brucejack Mine; production and processing estimates and estimated rates; estimated economic results of the Brucejack Mine; predicted metallurgical recoveries for gold and silver; geological and mineralization interpretations; development of our Brucejack Mine and timing thereof; timelines and similar statements relating to the economic viability of the Brucejack Mine, including mine life, total tonnes mined and processed and mining operations; updates to our mineral resources and mineral resources and life of mine plan for the Brucejack Mine, and the anticipated effects and timing thereof; timing, receipt, and anticipated effects of, and anticipated capital costs in connection with, approvals, consents and permits under applicable legislation; the effects of the novel coronavirus (2019-nCoV) outbreak as a global pandemic and at the Brucejack Mine, including anticipated operational and financial impacts, and our response and contingency plans; the effectiveness and costs of our COVID-19 management plans including related protocols and procedures. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results, actions, events, conditions, performance or achievements to materially differ from those expressed or implied by the forward-looking information including, without limitation, those related to: the effect of indebtedness on cash flow and business operations; the effect of a pandemic and particularly the COVID-19 outbreak as a global pandemic on the Company’s business, financial condition and results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, financial condition and results of operations; the effects of the COVID-19 outbreak as a global pandemic and at the Brucejack Mine, including anticipated operational and financial impacts and our response and contingency plans; the effectiveness and costs of our COVID-19 management plans, including related protocols and procedures; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; our production, grade of gold, milling recovery, cash flow and cost estimates, including the accuracy thereof; commodity price fluctuations, including gold and silver price volatility; the accuracy of our Mineral Resource and Resource estimates (including with respect to size, grade and mining and milling recoverability) and the geological, operational costs and price assumptions on which they are based; uncertainties relating to inferred Mineral Resources being converted into Measured or Indicated Mineral Resources; our ability to maintain or increase our annual production of gold at the Brucejack Mine or discover, develop or acquire Mineral Resources for production; dependency on the Brucejack Mine for our future operating revenue; the development of our properties and expansion of our operations; our need or ability to raise enough capital to mine, develop, expand or complete further exploration programs on our mineral properties; our ability to generate operating revenues and cash flow in the future; failure of counterparties to perform their contractual obligations; general economic conditions; the inherent risks in the mining industry; the commercial viability of our current and any acquired mineral rights; availability of suitable infrastructure or damage to existing infrastructure; transportation, processing and refining risks; maintaining satisfactory labour relations with employees and contractors; significant governmental regulations, including environmental regulations; non-compliance with permits that are obtained or delay in obtaining or renewing, failure to obtain or renew permits required in the future; increased costs and restrictions on operations due to compliance with health, safety and environmental laws and regulations; compliance with emerging climate change regulation and the detrimental effects of climate change; potential opposition from non-governmental organizations; uncertainty regarding unsettled First Nations rights and title in British Columbia; maintaining our social license to operate; uncertainties related to title to our mineral properties and surface rights; land reclamation and mine closure requirements; our ability to identify and successfully integrate any material properties we acquire; currency exchange rate fluctuations; competition in the mining industry for properties, qualified personnel and management; our ability to attract and retain qualified management and personnel; potential inability to attract development partners or our ability to identify attractive acquisitions; compliance with foreign corrupt practices regulations and anti-bribery laws; changes to rules and regulations, including accounting practices; limitations in our insurance coverage and the ability to insure against certain risks; risks related to ensuring the security and safety of information systems, including cyber security risks; significant growth could place a strain on our management systems; share ownership by our significant shareholders and their ability to influence our operations and governance and, in case of sales of our shares by such significant shareholders, our share price; failure to comply with certain terms of the convertible notes; reputational risks; and certain actions under United States federal securities laws may be unenforceable. This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance or achievements to differ from those anticipated, estimated or intended. Our forward-looking information is based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond our control. In connection with the forward-looking information contained in this news release, we have made certain assumptions about, among other things: our business and operations and that no significant event will occur outside of our normal course of business and operations (other than as expressly set out herein); planned exploration, development and production activities and the results, costs and timing thereof; future price of gold and silver and other metal prices; the accuracy of our Mineral Resource and Mineral Resource estimates and related information, analyses and interpretations (including with respect to any updates or anticipated updates); the geology and mineralization of the Brucejack Project; operating conditions; capital and operating cost estimates; the results, costs and timing of future exploration and drilling; timelines and similar statements relating to the economic viability of the Brucejack Mine; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and permits; obtaining required renewals for existing approvals, consents, licenses and permits; the geopolitical, economic, permitting and legal climate that we operate in; the adequacy of our financial resources, and our ability to raise any necessary additional capital on reasonable terms; commodity prices; currency exchange rates and interest rates; political and regulatory stability; requirements under applicable laws; market competition; sustained labour stability and availability of equipment; positive relations with local groups; stability in financial capital markets; and the impact of the COVID-19 outbreak. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained in this news release. Additional information about the risks and uncertainties concerning forward-looking information and material factors or assumptions on which such forward-looking information is based is provided in our public disclosure documents as filed in Canada on SEDAR at www.sedar.com and in the United States through EDGAR at the Security and Exchange Commission’s (the “SEC”) website at www.sec.gov. Forward-looking information is not a guarantee of future performance. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Forward-looking information involves statements about the future and is inherently uncertain, and our actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. For the reasons set forth above, readers should not place undue reliance on forward-looking information. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. Neither the TSX nor the NYSE has approved or disapproved of the information contained herein.

Figure 1

Location of the Avispa Exploration Property Area and major copper mines in northern Chile.

TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) is pleased to announce the commencement of exploration of its 170 km² Avispa copper molybdenum exploration concessions (Avispa or the “property”) located in the Atacama Desert of northern Chile. The Avispa project is situated within the well-defined north to south trending late Paleocene to early Eocene Cu-Mo porphyry belt of northern Chile that hosts some giant operating porphyry copper mines. The property is located approximately 40 km north of BHP’s Spence Cu-Mo mine and KGHM’s Sierra Gorda Cu-Mo mine which are situated in this belt. Avispa is also 50 km west of Codelco’s Chuquicamata supergiant porphyry copper mine that occurs within the younger late Eocene – early Oligocene porphyry belt (Figure 1). The property is surrounded by major mining companies with exploration and mining concessions including; Codelco in the north and Freeport and Glencor to the south with Antofagasta and SQM to the east and west.

The prospective geology of the Avispa project is below a sequence of cover rocks consisting of gravels and fine-grained clastic sediments intercalated with evaporite deposits of Tertiary age. These sediments are underlain by Paleocene volcanics and Cretaceous monzodiorite and diorite porphyries (Figure 1). The Avispa district was previously the target of some wide-spaced exploration drilling.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “Montero has secured 17,000 hectares in this highly prospective copper district in proximity and in the same geological setting as world class operating copper molybdenum mines. The Avispa exploration program will be the first step in defining drill target areas to test for buried porphyry and porphyry-related copper molybdenum mineral deposits.”

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e8736c3f-158a-4086-af95-cf29fd57cb02

Planned Exploration Program
Montero has completed a thorough investigation of historical information on exploration in this highly prospective area and aims to utilize cutting edge exploration technology with the objective of developing drilling targets. The Company has planned an exploration program that includes; geological mapping, surface sampling, ground, and airborne geophysical surveys.

Reconnaissance mapping has shown extensive areas of Tertiary evaporites with intercalated sediments that overlay older volcanic and intrusive rocks hosting the porphyry deposits in the area. The area will be initially mapped and prospected on a scale of 1:10,000. A rock chip and soil sampling program will be undertaken to help define geochemical signatures of any buried mineralization. Our geologists will also sample surface RC stockpiles that have been left next to RC drill holed left by previous companies that has drilled in the area. Geophysical work planned in the future will include airborne magnetics over selected areas of the property to define possible buried porphyry targets and controlling structural features. Targets will be prioritized for reverse circulation drill testing.

Previous companies to have explored Avispa include BHP that conducted limited drilling on the property at 2 km to 3 km spacing as part of a regional exploration program. Montero believes that there is potential for buried porphyry and porphyry-related deposits with smaller footprints than those sought by major companies.

Montero’s Chief Geologist, Marcial Vergara, has reviewed publicly available data on Avispa and has conducted a field visit. Marcial previously worked for Codelco and Anglo American, both major operating copper mining companies in Chile. Montero has adopted a prospect generator model at Avispa where it will de-risk the project and carry out limited exploration while seeking a partner to advance the project through the drill phase. This will provide Montero shareholders with exposure to the copper space while it continues to focus on the gold-silver potential of southern Chile.

Qualified Person's Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr.Sci.Nat. and Sr. Marcial Vergara B.Sc. who are qualified persons for the purpose of National Instrument 43-101. Sr Vergara is based in Santiago and has more than 30 years’ experience in copper exploration experience in Chile.

About Montero
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Latin America. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Latin America. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding.

For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: ir@monteromining.com
Tel: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.com

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the Share Consolidation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the agreement, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the agreement on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) today announced the appointment of Ms. Danielle Giovenazzo, Ph.D, P.Geo, as a Director of the Company.

Based in Montreal, Quebec, Ms. Giovenazzo has over 35 years’ experience in exploration, principally for gold, Ni-Cu-PGEs, base metals and rare earth elements. In addition to her expertise in mineral exploration in Canada and internationally with a range of companies including Newmont-Goldcorp, Falconbridge and Xstrata Nickel, Ms. Giovenazzo brings significant management, project management, project generation and board experience to Wallbridge. Most recently, Ms. Giovenazzo was an independent director of SOQUEM, a subsidiary of Ressources Québec and leader in Quebec’s mineral exploration industry.

“Danielle’s expertise in mineral exploration and her leadership and experience within Quebec’s mineral industry will be a valuable addition to the Wallbridge board as we continue to advance exploration and the completion of the maiden mineral resource estimate at our Fenelon gold project and work to unlock the value of our Ni-Cu-PGE assets,” said Chair of the Board Alar Soever.

About Wallbridge Mining
Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property which is located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. The Company completed approximately 102,000 metres of drilling in 2020 and has begun a fully‒funded 2021 program of approximately 170,000 metres of drilling and 2,500 metres of underground exploration development (Phase 1 of a 10,000‒metre program). The Company intends to complete a maiden mineral resource on the Fenelon Gold System in the third quarter of 2021.

Wallbridge now holds several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. Wallbridge's land holdings in Québec along the Detour‒Fenelon Gold Trend are over 900.0 km², improving Wallbridge's potential for further discoveries for over 90‒kilometre strike length in this under‒explored belt.

Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's Sudbury Basin.

This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.

For further information please visit the Company's website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: mkord@wallbridgemining.com

Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com

This press release may contain certain “forward‒looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the Company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward‒looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward‒looking information can be identified by the use of forward‒looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

By their nature, forward‒looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‒looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.

The Company does not undertake to update any forward‒looking information, except in accordance with applicable securities laws. The Company believes that the expectations reflected in those forward‒looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward‒looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.

Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward‒looking statements contained in this press release.

Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID‒19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.

Dieppe, New Brunswick–(Newsfile Corp. – June 15, 2021) – Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that its partner, Tocvan Ventures Corp ("Tocvan"), has reported assay results from 4 holes drilled at the Pilar Gold & Silver Project ("Pilar") located in Sonora, Mexico. Tocvan is currently completing 3,500 metres ("m") of Reverse Circulation drilling in 20 holes comprising its Phase II program at Pilar. Previously released assay results from Phase II at Pilar include an intersection of 29 m at an average grade of 0.71 grams per tonne ("g/t") Au in hole hole JES-21-38.

A highlight of the current results includes an intersection of 0.66 g/t Au over an intersection length of 35.1 m in hole JES-21-43. "Hole JES-21-043 is a significant step out to the east and illustrates the potential of the Main Zone at Pilar. We continue to be very pleased by the work being completed by Tocvan and look forward to further assay results from the Phase II drill program" commented Company President and CEO Ron Goguen.

Tocvan is in year two of a five-year option agreement with Colibri to earn an initial 51% ownership of the Pilar Gold-Silver Project. For full details of the agreement see Colibri's news release dated September 24th, 2019. Description of the drill results released by Tocvan follows:

TOCVAN NEWS RELEASE:

Calgary, Alberta – June 15, 2021. Tocvan Ventures Corp. (CSE: TOC) ("Tocvan" or the "Corporation") is pleased to announce results for the next four drill holes from its Phase II drill program (the "Program") at the Pilar Gold-Silver Project in Sonora, Mexico. A Phase II drill program is currently in progress with 3,500 meters of reverse circulation (RC) drilling in twenty (20) drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43 which returned 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq). Thirteen (13) drill holes are pending assay results.

Drill Result Highlights

JES-21-43 (Figure 1)

• 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq) from 97.6 to 132.7 meters

  • Including 13.7 meters at 1.7 g/t Au from 119 to 132.7 meters

  • Including 3.1 meters at 6.8 g/t Au and 7 g/t Ag from 119 to 122 meters

  • Also Including an upper elevated Ag zone, 7.6 meters at 17 g/t Ag from 97.6 to 105.2 meters

"JES-21-43 is a significant step-out to our Main Zone, 100-meters east of our Phase I drill hole JES-20-32", commented VP Exploration, Brodie Sutherland. "This not only expands the potential width of our Main Zone but also shows a continuation of mineralization down dip towards the east. Pending assay results for the remaining drill holes includes a series of holes stepped further east to test the 4-Trench Extension and the continuation of mineralization at depth."

Results Discussion

JES-21-40 – The hole was planned to test the Main Zone at depth and to the east. Drilling intersected a broad low grade zone from surface of 58m of 0.19 g/t Au. (see Table 1). Results from drill holes JES-20-33 (41.2m at 1.14 g/t Au) and JES-13-15 (34.5m at 1.27 g/t Au) through the same area of the Main Zone intersected higher grade, but were drilled from the opposite direction to JES-21-40, suggesting drilling from the east to the west through the zone is the optimal angle for intersecting mineralized structure.

JES-21-41 – The hole was planned to test 50m down dip of drill hole JES-20-32, which returned 94.6m at 1.6 g/t Au. Several zones of anomalous gold were intersected including, 3m of 0.54 g/t AuEq, 4.6m of 0.43 g/t AuEq, 1.5m of 0.54 g/t AuEq and near the bottom of the hole from 199.8 to 212m, 12.2m of 0.28 g/t AuEq. The results from JES-21-43 suggest mineralization can widen with depth as the system dips to the east, stepping out to the east of this area remains a strong target for drill testing.

JES-21-42 – The hole was planned to test quartz veining and alteration recorded at surface along the 4-Trench Extension in a new corridor with little previous drilling. Anomalous gold was intersected, highlighted by 1.5m at 0.46 g/t Au and 5 g/t Ag.

JES-21-43 – The hole was planned to test the eastern extent of the Main Zone which correlates with a resistivity anomaly from the CSAMT survey. An oxide zone with quartz veinlets was recorded from 41m depth to 93m followed by several quartz veins in oxidized andesite from 93m to 130m. 35.1m at 0.66 g/t Au and 6 g/t Ag was drilled from 97.6m to 132.7m. The interval is significant as it is spatially 100m to the east of drill hole JES-20-32 and historic drill hole JES-18-19, both which returned grade above 0.75 g/t Au over wide intervals (see Figure 1).

Figure 1. Cross-Section of Drill Hole JES-21-43

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/87600_c3cb3a94c45dd8f1_001full.jpg

Figure 2. Planview Map of Phase II Drill Program Update.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/87600_c3cb3a94c45dd8f1_002full.jpg

Table 1. Summary of Drill Results

*Insufficient drilling has been undertaken to determine true widths. All widths reported are core length. Gold equivalent ("AuEq") is calculated using metal prices of $1,700/oz gold and $18/oz silver.

About the Pilar Property

The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 19,200 m of drilling have been completed to date. Significant results are highlighted below:

• 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):

  • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;

  • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;

  • 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag

• 17,700m of Historic Core & RC drilling. Highlights include:

  • 61.0m @ 0.8 g/t Au

  • 16.5m @ 53.5g/t Au and 53 g/t Ag

  • 13.0m @ 9.6 g/t Au

  • 9.0m @ 10.2 g/t Au and 46 g/t Ag

Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone. Recent Surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.

Brodie A. Sutherland, P.Geo., VP Exploration for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

Quality Assurance / Quality Control

RC chips were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.

ABOUT COLIBRI RESOURCE CORPORATION:

Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company has six exploration projects of which five currently have exploration programs being executed or planned for 2021. The flagship Evelyn Gold Project is 100% owned and explored by Colibri. The Company has four additional projects, Pilar Gold & Silver Project (optioned to Tocvan Ventures- CSE:TOC), El Mezquite Gold & Silver Project , Jackie Gold & Silver Project, and the Diamante Gold & Silver Project (earn-in agreements with Silver Spruce Resources – TSX.V-SSE) are also currently being actively advanced.

For more information about all Company projects please visit: www.colibriresource.com.

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

Notice Regarding Forward-Looking Statements:

This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

For further information:

Ronald J. Goguen, President, Chairperson and Director
Tel: (506) 383-4274
rongoguen@colibriresource.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87600

A group of uranium mining companies saw their stock prices plunge after a performance issue was flagged at a Chinese nuclear power plant. The reaction seems overdone.