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

APN Convenience Retail REIT is not a large company by global standards. It has a market capitalization of AU$431m, which means it wouldn't have the attention of many institutional investors. In the chart below, we can see that institutions own shares in the company. Let's delve deeper into each type of owner, to discover more about APN Convenience Retail REIT.

View our latest analysis for APN Convenience Retail REIT

What Does The Institutional Ownership Tell Us About APN Convenience Retail REIT?

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

We can see that APN Convenience Retail REIT does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at APN Convenience Retail REIT's earnings history below. Of course, the future is what really matters.

We note that hedge funds don't have a meaningful investment in APN Convenience Retail REIT. Our data shows that APN Property Group Limited is the largest shareholder with 8.3% of shares outstanding. With 7.7% and 6.8% of the shares outstanding respectively, APN Funds Management Ltd. and Moelis Australia Asset Management Ltd are the second and third largest shareholders.

Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of APN Convenience Retail REIT

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Our most recent data indicates that insiders own some shares in APN Convenience Retail REIT. It has a market capitalization of just AU$431m, and insiders have AU$18m worth of shares, in their own names. It is good to see some investment by insiders, but it might be worth checking if those insiders have been buying.

General Public Ownership

The general public, who are mostly retail investors, collectively hold 53% of APN Convenience Retail REIT shares. This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.

Private Company Ownership

We can see that Private Companies own 7.2%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. For instance, we've identified 3 warning signs for APN Convenience Retail REIT that you should be aware of.

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

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

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So, the natural question for Sandfire Resources America (CVE:SFR) shareholders is whether they should be concerned by its rate of cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

See our latest analysis for Sandfire Resources America

How Long Is Sandfire Resources America's Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. As at December 2020, Sandfire Resources America had cash of CA$12m and no debt. Importantly, its cash burn was CA$16m over the trailing twelve months. That means it had a cash runway of around 9 months as of December 2020. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. You can see how its cash balance has changed over time in the image below.

How Is Sandfire Resources America's Cash Burn Changing Over Time?

Sandfire Resources America didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. It seems likely that the business is content with its current spending, as the cash burn rate stayed steady over the last twelve months. Admittedly, we're a bit cautious of Sandfire Resources America due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

Can Sandfire Resources America Raise More Cash Easily?

While its cash burn is only increasing slightly, Sandfire Resources America shareholders should still consider the potential need for further cash, down the track. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Since it has a market capitalisation of CA$251m, Sandfire Resources America's CA$16m in cash burn equates to about 6.4% of its market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

How Risky Is Sandfire Resources America's Cash Burn Situation?

Even though its cash runway makes us a little nervous, we are compelled to mention that we thought Sandfire Resources America's cash burn relative to its market cap was relatively promising. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. Taking a deeper dive, we've spotted 3 warning signs for Sandfire Resources America you should be aware of, and 2 of them are a bit unpleasant.

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

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

TSX Venture Exchange: FEO

ALL AMOUNTS ARE STATED IN CANADIAN DOLLARS, UNLESS OTHERWISE NOTED

VANCOUVER, BC, March 10, 2021 /CNW/ – Oceanic Iron Ore Corp. (TSX-V: FEO) ("Oceanic" or the "Company") is pleased to announce the completion of a non-brokered financing in an aggregate amount of $1,557,548 (the "Financing").

The subscribers to the Financing were issued Series C convertible debentures (the "Debentures") which will earn interest at a rate of 8.5% per annum over a 60-month term (the "Term"), payable quarterly.

The principal amount of the Debentures will be convertible to Units ("Unit") during the Term at the election of the subscriber at a price of $0.19 per Unit. Each Unit will consist of 1 common share of the Company and 1 share purchase warrant of the Company, with each whole warrant entitling the holder to purchase one common share of the Company at a price of $0.19 per common share until March 10, 2026.

The Debentures will be secured with a first ranking charge against the assets of the Company, ranking pari-passu with all other secured debenture holders.

The Debentures and any Units acquired on conversion thereof are subject to a hold period expiring on July 10, 2021. No finder's fees were paid in connection with the Financing.

The Company intends to use the proceeds of the Financing for ongoing negotiations with potential strategic partners, general claims maintenance, and corporate and working capital purposes.

Insiders of the Company were issued Debentures with a principal amount in aggregate of $1,355,358, and, accordingly, the private placement is a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance of Debentures to insiders is exempt from the valuation requirements and the minority approval requirements of MI 61-101 by virtue of the exemptions in sections 5.5(a) and 5.7(a) of MI 61-101, since the fair market value of the consideration for the Debentures issued to insiders did not exceed 25% of the Company's market capitalization.

Early Warning Disclosure – Steven Dean

Pursuant to the Financing, Sirocco Advisory Services Ltd., a corporation owned and controlled by Steven Dean, acquired a Debenture in the principal amount of $375,250. The Debenture is convertible into 1,975,000 Units of the Company of a price of $0.19 per unit until March 10, 2026. Each unit will consist of one common share of the Company and one warrant, each warrant entitling the holder to purchase one common share of the Company at a price of $0.19 per share from the date of issuance until March 10, 2026.

Prior to acquiring the Debenture, the Mr. Dean held, directly and indirectly, or had control or direction over, over an aggregate of 4,265,403 common shares of the Company representing approximately 4.5% of the issued and outstanding common shares of the Company, 2,300,000 warrants of the Company, 3,141,700 stock options of the Company, restricted share units convertible into 133,334 common shares of the Company and a Series A Debenture in the principal amount of $33,000 convertible into 330,000 units of the Company, each unit consisting of one common share and one warrant of the Company.

Mr. Dean would have held, directly and indirectly, or had control or direction over, an aggregate of 10,500,437 common shares of the Company, representing approximately 10.5% of the issued and outstanding shares on a partially diluted basis assuming the exercise of warrants and stock options, conversion of restricted share units, conversion of the Series A Debenture and exercise of the underlying warrants.

Following acquisition of the Debenture, Mr. Dean holds, directly and indirectly, or has control or direction over, an aggregate of 4,265,403 common shares of the Company, representing approximately 4.5% of the issued and outstanding common shares of the Company, 2,300,000 warrants of the Company, 3,141,700 stock options of the Company, restricted share units convertible into 133,334 common shares of the Company, a Series A Debenture in the principal amount of $33,000 convertible into 330,000 units of the Company, each unit consisting of one common share and one warrant of the Company, and the Debenture convertible into 1,975,000 Units of the Company, each unit consisting of one common share of the Company and one warrant, each warrant entitling the holder to purchase one common share of the Company.

Mr. Dean would hold 14,450,437 common shares of the Company, representing approximately 13.9% of the issued and outstanding common shares on a partially diluted basis assuming the exercise of warrants and the stock options, conversion of restricted share units, conversion of the Series A Debenture and exercise of the underlying warrants and conversion of the Debenture and exercise of the underlying warrants.

The Company has been advised that Mr. Dean acquired the securities for investment purposes and may in the future acquire or dispose of additional securities of the Company through the market, privately, or otherwise, as circumstances or market conditions warrant.

Copies of the Early Warning Report filed by Mr. Dean may be obtained from the Company's CFO, Chris Batalha (604-566-9080).

OCEANIC IRON ORE CORP. (www.oceanicironore.com)

On behalf of the Board of Directors

"Steven Dean"
Chairman
+604 566-9080

This news release includes certain "Forward-Looking Statements" as that term is used in applicable securities law. All statements included herein, other than statements of historical fact, including, without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of Oceanic Iron Ore Corp. ("Oceanic" or the "Company" are forward-looking statements that involve various risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "scheduled", "believes", or variations of such words and phrases or statements that certain actions, events or results "potentially", "may", "could", "would", "might" or "will" be taken, occur or be achieved. There can be no assurance that such statements will prove to be accurate, and actual results could differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements in this presentation, the Company has applied several material assumptions, including, but not limited to, the assumption that: (1) there being no significant disruptions affecting operations, whether due to labour/supply disruptions, damage to equipment or otherwise; (2) permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations; (3) certain price assumptions for iron ore; (4) prices for availability of natural gas, fuel oil, electricity, parts and equipment and other key supplies remaining consistent with current levels; (5) the accuracy of current mineral resource estimates on the Company's property; and (6) labour and material costs increasing on a basis consistent with the Company's current expectations. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risks and Uncertainties " in the Company's MD&A filed November 16, 2020 (a copy of which is publicly available on SEDAR at www.sedar.comunder the Company's profile) and elsewhere in documents filed from time to time, including MD&A, with the TSX Venture Exchange and other regulatory authorities. Such factors include, among others, risks related to the ability of the Company to obtain necessary financing and adequate insurance; the economy generally; fluctuations in the currency markets; fluctuations in the spot and forward price of iron ore or certain other commodities (e.g., diesel fuel and electricity); changes in interest rates; disruption to the credit markets and delays in obtaining financing; the possibility of cost overruns or unanticipated expenses; employee relations. Accordingly, readers are advised not to place undue reliance on Forward-Looking Statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Statements, whether as a result of new information, future events or otherwise.

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

SOURCE Oceanic Iron Ore Corp.

View original content: http://www.newswire.ca/en/releases/archive/March2021/10/c5016.html

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Iron Road Limited (ASX:IRD) as an investment opportunity by projecting its future cash flows and then discounting them to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. There's really not all that much to it, even though it might appear quite complex.

Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.

Check out our latest analysis for Iron Road

The method

We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars:

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = AU$77m

We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.7%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = AU$20m× (1 + 2.0%) ÷ (7.7%– 2.0%) = AU$359m

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= AU$359m÷ ( 1 + 7.7%)¹⁰= AU$172m

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is AU$249m. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of AU$0.3, the company appears about fair value at a 15% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

Important assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Iron Road as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.7%, which is based on a levered beta of 1.081. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Looking Ahead:

Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Iron Road, there are three additional items you should further research:

1. Risks: As an example, we've found 4 warning signs for Iron Road (1 makes us a bit uncomfortable!) that you need to consider before investing here.

2. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

3. Other Environmentally-Friendly Companies: Concerned about the environment and think consumers will buy eco-friendly products more and more? Browse through our interactive list of companies that are thinking about a greener future to discover some stocks you may not have thought of!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks just search here.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

VANCOUVER, BC, March 9, 2021 /CNW/ – Trading resumes in:

Company: Teuton Resources Corp.

TSX-Venture Symbol: TUO

All Issues: Yes

Resumption (ET): 12:30 PM

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

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

View original content: http://www.newswire.ca/en/releases/archive/March2021/09/c6301.html

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?

So, the natural question for Marmota (ASX:MEU) shareholders is whether they should be concerned by its rate of cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Marmota

How Long Is Marmota's Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In December 2020, Marmota had AU$7.2m in cash, and was debt-free. Importantly, its cash burn was AU$2.0m over the trailing twelve months. That means it had a cash runway of about 3.7 years as of December 2020. A runway of this length affords the company the time and space it needs to develop the business. The image below shows how its cash balance has been changing over the last few years.

How Is Marmota's Cash Burn Changing Over Time?

Although Marmota reported revenue of AU$50k last year, it didn't actually have any revenue from operations. To us, that makes it a pre-revenue company, so we'll look to its cash burn trajectory as an assessment of its cash burn situation. With the cash burn rate up 49% in the last year, it seems that the company is ratcheting up investment in the business over time. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Marmota makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

Can Marmota Raise More Cash Easily?

While Marmota does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$43m, Marmota's AU$2.0m in cash burn equates to about 4.6% of its market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

Is Marmota's Cash Burn A Worry?

It may already be apparent to you that we're relatively comfortable with the way Marmota is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. On another note, Marmota has 4 warning signs (and 2 which are significant) we think you should know about.

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

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

VANCOUVER, British Columbia, March 09, 2021 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – (“Medallion” or the “Company”), reports that since January 1, 2021 the Company has received funds for the exercise of 4,249,014 warrants and options for gross proceeds of approximately $792,000. The warrants and options were priced between $0.09 and $0.40 with an average exercise price of $0.19 per share. Medallion is in a strong position with over $2,000,000 of working capital, with research and engineering programs underway on both the extraction and separation of rare-earth elements (REE).

“We are very pleased and thankful to receive the continuing support of shareholders with the exercise of almost $800,000 in warrants and options,” said Mark Saxon, CEO and President. “With a strong cash position, we can now make commitments to longer term research and corporate development.”

Rare-Earth Element Separation Technology Acquisition – Update

In addition to Medallion’s long-term investment in a proprietary process for the sustainable extraction of REEs from mineral sand monazite, the Company recently acquired an exclusive license to a portfolio of technology, patents, and knowhow for ligand-assisted displacement (LAD) chromatography from Purdue University. The license enables Medallion to deploy the LAD technology in the separation and purification of rare-earth elements for all minerals, mineral processing by-products and mining waste feedstock, excluding coal-sourced materials. Medallion has begun discussions with third parties to sub-license the LAD technology and provide much sought-after and low-environmental impact REE separation.

The LAD system, developed by Linda Wang, PhD, the Purdue Maxine Spencer Nichols Professor of Chemical Engineering, was selected for investment by Medallion following extensive review of the REE separation industry. The green engineering and design principles applied by Dr Wang were recognized through the publication of her research in the Journal Green Chemistry in 2020. LAD chromatography is an aqueous (water based) process that does not depend upon petrochemical industry solvents to function. The technology is built upon a platform that is widely used in the pharmaceuticals industry and provides an environmentally sound method for REE separation with low technology risk and holds tremendous promise.

About Medallion Resources

Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing and the safe management of waste materials. More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact(s):

Mark Saxon, President & CEO
Donald Lay, Director & VP, Corporate Development
+1.604.681.9558 or info@medallionresources.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.

Medallion management takes full responsibility for content and has prepared this news release. Some of the statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with respect to the completion of additional tranche(s) of the Offering and the intended use of the proceeds. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Also, in order to proceed with Medallion’s plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion’s plans. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So should Aspire Mining (ASX:AKM) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.

See our latest analysis for Aspire Mining

How Long Is Aspire Mining's Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. As at June 2020, Aspire Mining had cash of AU$41m and such minimal debt that we can ignore it for the purposes of this analysis. Looking at the last year, the company burnt through AU$5.1m. Therefore, from June 2020 it had 8.0 years of cash runway. Even though this is but one measure of the company's cash burn, the thought of such a long cash runway warms our bellies in a comforting way. You can see how its cash balance has changed over time in the image below.

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

Aspire Mining didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Even though it doesn't get us excited, the 36% reduction in cash burn year on year does suggest the company can continue operating for quite some time. Admittedly, we're a bit cautious of Aspire Mining due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Easily Can Aspire Mining Raise Cash?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Aspire Mining to raise more cash in the future. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Aspire Mining's cash burn of AU$5.1m is about 10% of its AU$49m market capitalisation. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.

How Risky Is Aspire Mining's Cash Burn Situation?

It may already be apparent to you that we're relatively comfortable with the way Aspire Mining is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Its cash burn reduction wasn't quite as good, but was still rather encouraging! Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Readers need to have a sound understanding of business risks before investing in a stock, and we've spotted 2 warning signs for Aspire Mining that potential shareholders should take into account before putting money into a stock.

Of course Aspire Mining may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

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.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?

So should Native Mineral Resources Holdings (ASX:NMR) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

Check out our latest analysis for Native Mineral Resources Holdings

Does Native Mineral Resources Holdings Have A Long Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at December 2020, Native Mineral Resources Holdings had cash of AU$3.3m and no debt. Importantly, its cash burn was AU$1.9m over the trailing twelve months. Therefore, from December 2020 it had roughly 22 months of cash runway. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. Depicted below, you can see how its cash holdings have changed over time.

How Is Native Mineral Resources Holdings' Cash Burn Changing Over Time?

Because Native Mineral Resources Holdings isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Remarkably, it actually increased its cash burn by 289% in the last year. Given that sharp increase in spending, the company's cash runway will shrink rapidly as it depletes its cash reserves. Native Mineral Resources Holdings makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Hard Would It Be For Native Mineral Resources Holdings To Raise More Cash For Growth?

While Native Mineral Resources Holdings does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Since it has a market capitalisation of AU$27m, Native Mineral Resources Holdings' AU$1.9m in cash burn equates to about 6.8% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

Is Native Mineral Resources Holdings' Cash Burn A Worry?

On this analysis of Native Mineral Resources Holdings' cash burn, we think its cash burn relative to its market cap was reassuring, while its increasing cash burn has us a bit worried. Cash burning companies are always on the riskier side of things, but after considering all of the factors discussed in this short piece, we're not too worried about its rate of cash burn. Its important for readers to be cognizant of the risks that can affect the company's operations, and we've picked out 2 warning signs for Native Mineral Resources Holdings that investors should know when investing in the stock.

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

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.

If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. And in light of that, the trends we're seeing at Zimplats Holdings' (ASX:ZIM) look very promising so lets take a look.

Return On Capital Employed (ROCE): What is it?

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Zimplats Holdings is:

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

0.35 = US$619m ÷ (US$2.0b – US$199m) (Based on the trailing twelve months to December 2020).

Thus, Zimplats Holdings has an ROCE of 35%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 11%.

View our latest analysis for Zimplats Holdings

While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings, revenue and cash flow of Zimplats Holdings, check out these free graphs here.

How Are Returns Trending?

Zimplats Holdings has recently broken into profitability so their prior investments seem to be paying off. About five years ago the company was generating losses but things have turned around because it's now earning 35% on its capital. Not only that, but the company is utilizing 50% more capital than before, but that's to be expected from a company trying to break into profitability. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.

What We Can Learn From Zimplats Holdings' ROCE

In summary, it's great to see that Zimplats Holdings has managed to break into profitability and is continuing to reinvest in its business. Since the stock has returned a staggering 590% to shareholders over the last five years, it looks like investors are recognizing these changes. Therefore, we think it would be worth your time to check if these trends are going to continue.

Zimplats Holdings does have some risks though, and we've spotted 2 warning signs for Zimplats Holdings that you might be interested in.

If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

Toronto, Ontario–(Newsfile Corp. – March 8, 2021) – ATEX Resources Inc. (TSXV: ATX) ("ATEX") is pleased to announce the metallurgical test results from 13 bottle roll leach tests from the Valeriano Oxide Gold Deposit. Table 1 provides details from the metallurgical program.

Highlights from the metallurgical testing include:

• average gold recoveries of 70.8%;

• significant amounts of exposed gold at coarse sizes were visible; and

• average NaCN consumption of 0.29 kg/t and average lime consumption of 7.0 kg/t (see "Discussion").

"The positive results from the preliminary metallurgical program represent a significant step forward towards the potential development of the Valeranio Oxide Gold Deposit by demonstrating that the oxide gold mineralization at Valeriano is amenable to heap leach processing", said Raymond Jannas, CEO of ATEX. "While the main goal of the ongoing 3,000 metre drill program is to expand the existing near surface oxide gold resource and convert a portion of inferred gold resource to the measured and indicated categories, the drill program will also provide addition samples for further detailed metallurgical test work with results available during the second half of 2021."

Table 1 – Metallurgical Test Results, Valeriano Oxide Gold Deposit

Discussion

Ca(OH)₂, (lime) consumption average 7.0 kilograms per tonne, however, this figure was impacted by elevated consumption associated with samples collected from drill hole VALDD012-010 which occurs adjacent to but outside the 0.275 g/t Au resource envelope. Removing the results from VALDD012-010 from the study decreases lime consumption to 1.45 kg/t while gold recoveries increase to 75.3%. Core from VALDD012-010 will be examined to determine the cause of the elevated lime consumption.

NaCN consumption averaged 0.29 kilograms per tonne. While bottle roll tests are not particularly useful in predicting actual NaCN consumption, the results are indicative of potential issues. No issues were noted during the test work.

While the samples were being prepared, Advanced Mineral Technology Laboratory Ltd. ("AMTEL") noted that significant amounts of exposed gold at coarse sizes were visible. Studies are being undertaken to characterize the nature of gold mineralization.

Summary of Metallurgical Test Protocols

Thirteen metallurgical test samples, varying from 4 to 6 kilograms, were collected from diamond drill core sample rejects from Hochschild Mining's 2012-2013 drill program. The availability of diamond drill holes which cut the Valeriano Gold Oxide deposit was limited. The samples were shipped to the AMTEL laboratory located in London, Canada. AMTEL was responsible for all aspects of the metallurgical test work.

Samples were crushed to a target size of P80 2 mm and split to 1,000 gram charges for testing. The bottle roll leach tests were performed at 60% solids : 40% liquids, under intensive leach conditions of 5 g/L NaCN for a period of 24 hours. The samples were split into representative aliquots for study and assay. Duplicate fire assays were performed on head samples, and single assays were performed on 'coarse', CIL and pulverized CN residues. Fire assay were checked by internal AMTEL QA-QC samples.

Valeriano Oxide Gold Resource Estimate

The Valeriano epithermal oxide gold deposit contains 0.585 million ounces of gold and 2.65 million ounces of silver for 0.623 million gold equivalent ounces in the inferred category hosted in 34.4 million tonnes at a grade of 0.528 grams per tonne ('g/t") gold and 2.4 g/t silver for a gold equivalent grade of 0.561 g/t at a 0.275 g/t gold cut-off grade.

The mineral resource is not confined by economic or mining parameters. Equivalent grades are calculated based upon a gold price of $1,800 per ounce and a silver price of $25.00 per ounce. The formula for the equivalent grade calculations are as follows: Au_{eq g/t} =Au_gt + (Ag _g/t*Ag_price / Au_price). All prices are in US$.For further details on the Valeriano resource estimates, see ATEX's "NI 43-101 Technical Report Valeriano Project Inferred Resources Estimates" dated November 13, 2020 filed at www.sedar.com.

NI 43-101 Disclosure

David Hopper, a geological consultant and resident of El Arrayán, Santiago, Chile, is the qualified person ("QP"), as defined by National Instrument 43-101 Standards for Disclosure for Mineral Projects, for the Valeriano Project. Mr. Hopper is a Chartered Geologist of the Geological Society of London, Fellow No. 1030584. The Valeriano Project resource estimates were undertaken by SRK Consulting (Chile) SpA. Joled Nur, Civil Mining Engineer, SRK Consulting (Chile) SpA, a member of the Public Register of Competent Persons in Mining Resources and Reserves of Chile, No. 181, was the independent QP who prepared the resource estimates.

About ATEX Resources Inc.

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

On behalf of ATEX Resources Inc.

Dr. Raymond Jannas, CEO

For additional information, please email rjannas@atexresources.com or call 1-647-287-3778

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76470

VANCOUVER, BC, March 8, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Sonora Gold & Silver Corp.

TSX-Venture Symbol: SOC

All Issues: No

Reason: At the Request of the Company Pending News

Halt Time (ET): 10:53 AM

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

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

View original content: http://www.newswire.ca/en/releases/archive/March2021/08/c3093.html

Venturex Resources Limited (ASX:VXR) is possibly approaching a major achievement in its business, so we would like to shine some light on the company. Venturex Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral resources in Australia. The AU$141m market-cap company announced a latest loss of AU$3.9m on 30 June 2020 for its most recent financial year result. As path to profitability is the topic on Venturex Resources' investors mind, we've decided to gauge market sentiment. In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable.

Check out our latest analysis for Venturex Resources

Expectations from some of the Australian Metals and Mining analysts is that Venturex Resources is on the verge of breakeven. They anticipate the company to incur a final loss in 2022, before generating positive profits of AU$19m in 2023. The company is therefore projected to breakeven around 2 years from today. What rate will the company have to grow year-on-year in order to breakeven on this date? Using a line of best fit, we calculated an average annual growth rate of 110%, which is rather optimistic! Should the business grow at a slower rate, it will become profitable at a later date than expected.

Underlying developments driving Venturex Resources' growth isn’t the focus of this broad overview, though, keep in mind that generally metals and mining companies, depending on the stage of operation and metals mined, have irregular periods of cash flow. This means, large upcoming growth rates are not abnormal as the company is beginning to reap the benefits of earlier investments.

One thing we’d like to point out is that The company has managed its capital judiciously, with debt making up 9.2% of equity. This means that it has predominantly funded its operations from equity capital, and its low debt obligation reduces the risk around investing in the loss-making company.

Next Steps:

This article is not intended to be a comprehensive analysis on Venturex Resources, so if you are interested in understanding the company at a deeper level, take a look at Venturex Resources' company page on Simply Wall St. We've also put together a list of important aspects you should further research:

1. Historical Track Record: What has Venturex Resources' performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.

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

3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

With its stock down 16% over the past three months, it is easy to disregard Red River Resources (ASX:RVR). However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study Red River Resources' ROE in this article.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

Check out our latest analysis for Red River Resources

How To Calculate Return On Equity?

The formula for ROE is:

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

So, based on the above formula, the ROE for Red River Resources is:

14% = AU$9.4m ÷ AU$65m (Based on the trailing twelve months to December 2020).

The 'return' is the profit over the last twelve months. That means that for every A$1 worth of shareholders' equity, the company generated A$0.14 in profit.

What Has ROE Got To Do With Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

Red River Resources' Earnings Growth And 14% ROE

To start with, Red River Resources' ROE looks acceptable. Further, the company's ROE is similar to the industry average of 13%. This probably goes some way in explaining Red River Resources' moderate 19% growth over the past five years amongst other factors.

As a next step, we compared Red River Resources' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 33% in the same period.

Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Red River Resources is trading on a high P/E or a low P/E, relative to its industry.

Is Red River Resources Efficiently Re-investing Its Profits?

Summary

On the whole, we feel that Red River Resources' performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a respectable growth in its earnings. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

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.

Every investor in Hastings Technology Metals Limited (ASX:HAS) should be aware of the most powerful shareholder groups. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Warren Buffett said that he likes "a business with enduring competitive advantages that is run by able and owner-oriented people." So it's nice to see some insider ownership, because it may suggest that management is owner-oriented.

Hastings Technology Metals is not a large company by global standards. It has a market capitalization of AU$279m, which means it wouldn't have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions don't own many shares in the company. We can zoom in on the different ownership groups, to learn more about Hastings Technology Metals.

View our latest analysis for Hastings Technology Metals

What Does The Institutional Ownership Tell Us About Hastings Technology Metals?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

Institutions have a very small stake in Hastings Technology Metals. That indicates that the company is on the radar of some funds, but it isn't particularly popular with professional investors at the moment. So if the company itself can improve over time, we may well see more institutional buyers in the future. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees.

Hastings Technology Metals is not owned by hedge funds. From our data, we infer that the largest shareholder is Foon Lew (who also holds the title of Top Key Executive) with 10% of shares outstanding. Its usually considered a good sign when insiders own a significant number of shares in the company, and in this case, we're glad to see a company insider play the role of a key stakeholder. Meanwhile, the second and third largest shareholders, hold 6.6% and 3.2%, of the shares outstanding, respectively.

A deeper look at our ownership data shows that the top 16 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There is a little analyst coverage of the stock, but not much. So there is room for it to gain more coverage.

Insider Ownership Of Hastings Technology Metals

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

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

Our most recent data indicates that insiders own a reasonable proportion of Hastings Technology Metals Limited. It has a market capitalization of just AU$279m, and insiders have AU$50m worth of shares in their own names. It is great to see insiders so invested in the business. It might be worth checking if those insiders have been buying recently.

General Public Ownership

The general public, mostly retail investors, hold a substantial 58% stake in Hastings Technology Metals, suggesting it is a fairly popular stock. This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Take risks for example – Hastings Technology Metals has 3 warning signs (and 1 which is a bit concerning) we think you should know about.

If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

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

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

VANCOUVER, BC, March 5, 2021 /CNW/ – Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) announces that it has granted 160,000 stock options to its directors, officers and consultants. The options are exercisable at $5.00 per share, subject to certain vesting requirements and expire five years from the date of grant.

About Callinex Mines Inc.

Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by its Nash Creek and Superjack deposits in the Bathurst Mining District of New Brunswick. A 2018 PEA outlined a mine plan that generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax). The projects have significant exploration upside over a district-scale land package that encompasses several high-grade mineral occurrences along a 20km trend. Click here to view a video overview of the Nash Creek Project.

Callinex has a project portfolio that also includes projects within the Flin Flon Mining District of Manitoba that are located 25km to an operating processing facility that requires additional ore.

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.

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.

View original content to download multimedia:http://www.prnewswire.com/news-releases/callinex-grants-stock-options-301241193.html

SOURCE Callinex Mines Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2021/05/c1616.html

Toronto, Ontario–(Newsfile Corp. – March 4, 2021) – Monarca Minerals, Inc. (TSXV: MMN) ("Monarca" or the "Company") is pleased to announce that it continues to advance the permitting process for its upcoming drilling program on the San Jose Silver Project ("San Jose") located near the USA border in Chihuahua, Mexico.

Surface lands for the San Jose project area are partially covered by "Ejido" lands and "Colonia" lands (community or communal lands), therefore the Company is required to sign a surface rights agreement with both the Ejido and Colonia authorities to advance its environmental permit to proceed with its planned drilling program.

On February 21, 2021, Colonia elected its new authorities and plans to sign an agreement with Monarca Mining (Mexican subsidiary of Monarca Minerals) to change the use of land and temporary occupation allowing the Company to complete its drilling program at San Jose.

An environmental assessment report for the planned drilling area, which is a requirement to obtain a drilling permit, has been completed and will be submitted to the Mexican authorities as soon as a surface rights agreement with Colonia has been signed and ratified by a Mexican Public Notary. The Company expects this agreement to be signed by next week.

The Company has also received three drilling contractor proposals for the San Jose drilling program and will be making a final decision on a drilling contract soon. The initial drilling program at San Jose includes ten targets and approximately 5,000 metres of drilling. Eight targets are located on Colonia lands and two targets on Ejido lands. Prospecting and field mapping has already been completed.

Two drill holes (SJ1 and SJ2) are planned in the area of the Guadalupana mine at the southern end of the geophysical survey area (refer to the Company's December 15, 2020 news release). These drilling targets are located over strong IP anomalies, adjacent to the southeast margin of a large magnetic anomaly, which is interpreted as a buried mineralized intrusive body. Drill hole SJ1 is designed to intercept the Guadalupana vein, which historically has returned high precious and base metal grades and is interpreted from the IP survey as "leakage" from a larger area of buried mineralization (refer to geophysical cross section and sampling photo below).

GEOPHYSICAL CROSS SECTION LOOKING NORTH – DRILL HOLES SJ1 AND SJ2 TARGETING IP ANOMALIES

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2584/76043_fig1.jpg

SAMPLING PHOTO – GUADALUPANA MINE CHANNEL SAMPLE: SJ0007

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2584/76043_fig2.jpg

Quality Assurance and Quality Control Statement

Procedures have been implemented by Monarca to assure Quality Assurance Quality Control (QAQC) of all assaying completed at ALS Global, which is an ISO Accredited laboratory and independent of Monarca. All grab samples taken in the field were placed in plastic bags closed with zip ties and stored in a secure location until shipment by Monarca personnel to the ALS sample preparation facility in Chihuahua, Mexico. A sterile blank sample (unmineralized rhyolite) and a mineralized reference standard (used by Monarca since 2009) were alternately placed in the sample sequence every 15th sample. The assays received for the QAQC samples were reviewed for acceptable values by Monarca's Qualified Person, who determined in all cases that results were satisfactory, resulting in a high level of confidence in the assays reported for the San Jose Project. The sterile (blank) QAQC samples all reported low or nil values for the metals of interest. The mineralized reference standard samples all reported gold assays within 2 standard deviations of the accepted value (1.15ppm) and the silver assays reported within 3 standard deviations of the accepted value (83.9ppm).

Qualified Person Statement

Michael R. Smith is the Qualified Person (QP) who has prepared and approved the scientific and technical information disclosed in this news release. Mr. Smith is a Registered Member (#04167376 – Geology) of the Society for Mining, Metallurgy & Exploration (SME) and the Executive Vice President, Exploration for Monarca Minerals Inc.

About Monarca Minerals Inc.

Monarca is a Canadian mining company listed on the TSX Venture Exchange (TSXV: MMN) and focused on the exploration and development of silver projects along a highly productive mineralized belt in Mexico. The Company has a portfolio of silver projects including an Inferred Mineral Resource of 19.8 million tonnes at 45.0 g/t Ag (28.7 million ounces of contained silver) at its Tejamen deposit in Durango, Mexico.

For further information, please contact:

Carlos Espinosa
President, CEO & Director
Monarca Minerals Inc.
E: cespinosa@slgmexico.com

Cautionary Note Regarding Forward-Looking Statements Forward-Looking Statements:

The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76043

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER British Columbia, March 03, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ), is pleased to announce that it has completed the final tranche of its non-brokered private placement and has issued 65,080,000 non-flow-through units (each, an “NFT Unit”) at a price of $0.05 per NFT Unit for gross proceeds of $3,254,000. The gross proceeds to the Company of both Tranche 1 and Tranche 2 totaled $4,241,500. A single institutional investor accounted for $1,850,000 (37,000,000 units) of the final tranche. In addition, the Company has issued 2,000,000 flow-through units (each, a “FT Unit”) at a price of $0.05 per FT Unit for an additional $100,000.

Each NFT Unit and FT Unit consists of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each warrant entitles the holder to acquire an additional common share at a price of $0.07 until March 3, 2026.

The proceeds from the private placement will be applied to the Company's exploration projects, and for general working capital purposes. The gross proceeds from the FT Units will be used to finance Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) which shall qualify as flow-through mining expenditures, for the purposes of the Income Tax Act (Canada). It is anticipated that expenditures will largely be focused on continuation of the Company's continuing diamond drilling program at the East Preston uranium project, located in the western Athabasca basin, Saskatchewan, Canada.

All securities issued in connection with the private placement are subject to a statutory hold period in accordance with applicable securities laws until July 4, 2021. In connection with completion of the final tranche of the private placement, the Company has paid $80,800 and issued 4,796,000 Warrants and 3,180,000 finder’s shares to certain arms-length third-parties who assisted in introducing subscribers to the Company.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, President & CEO

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

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com

Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com

Does the March share price for Paladin Energy Limited (ASX:PDN) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. Our analysis will employ the Discounted Cash Flow (DCF) model. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.

We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

View our latest analysis for Paladin Energy

Crunching the numbers

We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$518m

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 9.3%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = US$152m× (1 + 2.0%) ÷ (9.3%– 2.0%) = US$2.1b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$2.1b÷ ( 1 + 9.3%)¹⁰= US$873m

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$1.4b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of AU$0.5, the company appears quite good value at a 47% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope – move a few degrees and end up in a different galaxy. Do keep this in mind.

The assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Paladin Energy as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.3%, which is based on a levered beta of 1.397. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Moving On:

Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Why is the intrinsic value higher than the current share price? For Paladin Energy, we've compiled three additional factors you should explore:

1. Risks: As an example, we've found 3 warning signs for Paladin Energy (2 shouldn't be ignored!) that you need to consider before investing here.

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

3. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. Simply Wall St updates its DCF calculation for every Australian stock every day, so if you want to find the intrinsic value of any other stock just search here.

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

LAWRENCEVILLE, N.J., March 02, 2021 (GLOBE NEWSWIRE) — Celsion Corporation (NASDAQ: CLSN), a clinical-stage development company focused on DNA-based immunotherapy and next-generation vaccines, today announced that a poster on the Company’s Phase I/II OVATION 2 Study with GEN-1 in advanced ovarian cancer has been accepted for presentation at the Virtual Annual Meeting on Women’s Cancer, sponsored by the Society of Gynecologic Oncology.

The conference is being held March 19-25, 2021. The OVATION 2 Study design is being presented as a poster entitled “A Phase I/II Study Evaluating Intraperitoneal GEN-1 in Combination with Neoadjuvant Chemotherapy in Patients with Newly Diagnosed Advanced Epithelial Ovarian Cancer (EOC)” in the “Trials in Progress” poster session from March 19 to 25 (8 pm to 11 pm each day). GEN-1 is Celsion’s DNA-mediated interleukin-12 (IL-12) immunotherapy designed using TheraPlas, its proprietary, synthetic, non-viral nanoparticle delivery system platform. Poster authors are: P.H. Thaker, R.W. Holloway, L. Kuroki, S. E. DePasquale, W.H. Bradley, A. ElNaggar, M.C. Bell, R.P. Rocconi, A. Bregar, M.D. Indermaur, C. Gunderson, B. Pothuri, R. Agajanian, D. Warshal, D. Provencher, M. McHale, V. John, M. Bergman, S. Lau, L. Musso, K. Anwer, N. Borys, C.A. Leath III and the poster will be available for virtual viewing during the meeting.

“We are delighted that the Society of Gynecologic Oncology has accepted this poster for presentation,” said Michael H. Tardugno, Celsion’s chairman, president and chief executive officer. “The poster authors, led by the Study Chair of the OVATION 2 Study Dr. Premal Thaker of Washington University School of Medicine in St. Louis, are a Who’s Who of key opinion leaders in women’s health. Celsion is grateful to have such luminaries represent our study to their peers.”

The poster describes the OVATION 2 Study, which combines GEN-1 with standard-of-care neoadjuvant chemotherapy (NACT) in patients newly diagnosed with Stage III/IV ovarian cancer. NACT is designed to shrink the cancer as much as possible for optimal surgical removal after three cycles of chemotherapy. Following NACT, patients undergo interval debulking surgery, followed by three adjuvant cycles of chemotherapy and up to nine additional weekly GEN-1 treatments, the goal of which is to delay progression and improve overall survival. The OVATION 2 Study is an open-label, 1-to-1 randomized trial, 80% powered to show the equivalent of a 33% improvement in progression-free survival (PFS) (HR=0.75), the primary endpoint, when comparing the treatment arm (standard of care + GEN-1) with the control arm (standard of care alone).

The poster will be available https://investor.celsion.com/scientific-presentations on March 19, 2021.

The Company recently announced that to date it has enrolled approximately one-third, or 34 patients, of the anticipated 110 patients to be enrolled into the OVATION 2 Study, of which 20 are in the treatment arm and 14 are in the control. Currently, 28 patients have had their interval debulking surgery with the following results:

• 13 of 16, or 81%, of patients treated with GEN-1 had a R0 resection, which indicates a microscopically margin-negative complete resection in which no gross or microscopic tumor remains in the tumor bed.

• 7 of 12 patients, or 58%, of patients in the control arm had an R0 resection.

• This interim data represents a 40% improvement in R0 resection rates for GEN-1- patients compared with control arm patients and is consistent with the reported improvement in resection scores noted in the encouraging Phase I OVATION 1 Study, the manuscript of which has been submitted for peer review publication.

Celsion also announced last week that GEN-1 had received Fast Track designation from the U.S. Food and Drug Administration (FDA). This designation is intended to facilitate the development and expedite the regulatory review of drugs to treat serious conditions and fill an unmet medical need.

About GEN-1 Immunotherapy

GEN-1, designed using Celsion's proprietary TheraPlas platform technology, is an IL-12 DNA plasmid vector encased in a nanoparticle delivery system, which enables cell transfection followed by persistent, local secretion of the IL-12 protein. IL-12 is one of the most active cytokines for the induction of potent anti-cancer immunity acting through the induction of T-lymphocyte and natural killer (NK) cell proliferation. The Company has previously reported positive safety and encouraging Phase I results with GEN-1 given as monotherapy or a combination therapy in patients with advanced peritoneally metastasized primary or recurrent ovarian cancer, and recently completed a Phase Ib dose-escalation trial (OVATION 1 Study) of GEN-1 in combination with carboplatin and paclitaxel in patients with newly diagnosed ovarian cancer.

About the Virtual Annual Meeting on Women’s Cancer

The Society of Gynecologic Oncology (SGO) 2021 Annual Meeting on Women’s Cancer will be a fully virtual meeting, allowing participants to access high-quality content and engage remotely from around the world in a platform that will be designed explicitly for this meeting. SGO is working hard to provide a great virtual experience with the latest gynecologic cancer research and education you have come to expect at the Annual Meeting on Women’s Cancer. All education sessions will be recorded and available through the virtual platform for attendees who register for the meeting by March 25, 2021.

About Celsion Corporation

Celsion is a fully integrated, clinical stage biotechnology company focused on advancing a portfolio of innovative cancer treatments, including immunotherapies and DNA-based therapies; and a platform for the development of nucleic acid vaccines currently focused on SARS-CoV2. The company’s product pipeline includes GEN-1, a DNA-based immunotherapy for the localized treatment of ovarian cancer. ThermoDox^®, a proprietary heat-activated liposomal encapsulation of doxorubicin, is under investigator-sponsored development for several cancer indications. Celsion also has two feasibility stage platform technologies for the development of novel nucleic acid-based immunotherapies and other anti-cancer DNA or RNA therapies. Both are novel synthetic, non-viral vectors with demonstrated capability in nucleic acid cellular transfection. For more information on Celsion, visit www.celsion.com.

Forward-looking Statements

Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties, many of which are difficult to predict, including, unforeseen changes in the course of research and development activities and in clinical trials; the uncertainties of and difficulties in analyzing interim clinical data, particularly in small subgroups that are not statistically significant; FDA and regulatory uncertainties and risks; the significant expense, time and risk of failure of conducting clinical trials; the need for Celsion to evaluate its future development plans; possible acquisitions or licenses of other technologies, assets or businesses; possible actions by customers, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in the Celsion's periodic filings with the Securities and Exchange Commission. Celsion assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

Celsion Investor Contact
Jeffrey W. Church
Executive Vice President and CFO
609-482-2455
jchurch@celsion.com

LHA Investor Relations
Kim Sutton Golodetz
212-838-3777
kgolodetz@lhai.com

# # #

NATCHEZ, Miss., March 1, 2021 /PRNewswire/ — Cadillac Ventures Inc. ("Cadillac") (TSXV:CDC) and KFG Resources Ltd. ("KFG") (TSXV:KFG) are pleased to announce that in connection with the previously announced proposed plan of arrangement (the "Arrangement") involving Cadillac, KFG and the shareholders of KFG (see the press releases of Cadillac and KFG, each dated February 9, 2021), all of the directors and executive officers of KFG and certain shareholders of KFG (collectively, the "KFG Supporting Shareholders"), collectively holding approximately 41.7% of the issued and outstanding common shares of KFG (the "KFG Shares"), have entered into voting support agreements with Cadillac (the "Voting Support Agreements").

Pursuant to the Voting Support Agreements, the KFG Supporting Shareholders have agreed, among other things, to vote all of their KFG Shares in favour of the Arrangement at a special meeting of holders of KFG Shares to be held to consider the Arrangement, and to otherwise support the Arrangement, subject to the provisions of such Voting Support Agreements.

Copies of the Voting Support Agreements will be filed under KFG's profile on SEDAR at www.sedar.com.

Cautionary statement regarding forward–looking information

This press release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements relating to the Arrangement, including the process associated therewith and completion thereof; the meeting of holders of KFG Shares; and statements and expectations regarding the KFG Supporting Shareholders support of the Arrangement. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on KFG and Cadillac respective expectations and considered reasonable at the time they were made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including those described in Cadillac's and KFG's respective public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this release. Unless required by law, neither Cadillac nor KFG intends to, or assumes any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information regarding Cadillac, please visit Cadillac's website www.cadillacventures.com, or contact Norman Brewster, President and Chief Executive Officer, at 905-837-2000. For further information regarding KFG, please visit KFG's website www.kfgresources.com of contact Robert A. Kadane, President, at 940-500-0807 or robertkadane40@gmail.com.

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

SOURCE KFG Resources Ltd.

If you want to know who really controls Poseidon Nickel Limited (ASX:POS), then you'll have to look at the makeup of its share registry. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Companies that have been privatized tend to have low insider ownership.

With a market capitalization of AU$211m, Poseidon Nickel is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. Let's take a closer look to see what the different types of shareholders can tell us about Poseidon Nickel.

View our latest analysis for Poseidon Nickel

What Does The Institutional Ownership Tell Us About Poseidon Nickel?

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

We can see that Poseidon Nickel does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Poseidon Nickel's historic earnings and revenue below, but keep in mind there's always more to the story.

Poseidon Nickel is not owned by hedge funds. Black Mountain Metals LLC is currently the company's largest shareholder with 20% of shares outstanding. For context, the second largest shareholder holds about 11% of the shares outstanding, followed by an ownership of 4.5% by the third-largest shareholder.

We did some more digging and found that 10 of the top shareholders account for roughly 50% of the register, implying that along with larger shareholders, there are a few smaller shareholders, thereby balancing out each others interests somewhat.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.

Insider Ownership Of Poseidon Nickel

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

We can see that insiders own shares in Poseidon Nickel Limited. In their own names, insiders own AU$7.2m worth of stock in the AU$211m company. It is good to see some investment by insiders, but I usually like to see higher insider holdings. It might be worth checking if those insiders have been buying.

General Public Ownership

The general public, with a 46% stake in the company, will not easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.

Private Company Ownership

Our data indicates that Private Companies hold 21%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Poseidon Nickel (at least 1 which is a bit unpleasant) , and understanding them should be part of your investment process.

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

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

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

Vancouver, British Columbia–(Newsfile Corp. – March 2, 2021) – CMC Metals Ltd (TSXV: CMB) (OTC Pink: CMCXF) (FSE: ZM5P) would like to correct the time that the company will be presenting at Red Cloud's 2021 Pre-PDAC Mining Showcase.

The annual conference will be a virtual event this year and will take place from March 3-5, 2021.

Kevin Brewer, President and CEO will be presenting on March 3rd at 4:20 PM Eastern Standard time.

It was previously reported that the presentation would take place at an earlier time and this release is a correction to that presentation time.

We invite our shareholders and all interested parties to join us there.

For more information and/or to register for the conference please visit: https://www.redcloudfs.com/prepdac2021/.

We look forward to seeing you there.

For further information:

CMC Metals Ltd
Kevin Brewer
6046050166
kbrewer80@hotmail.com
www.cmcmetals.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75851

Results from Deeper Drilling Pending

Figure 1

Property map showing the location of Tarabala and Samagouela.

Figure 2

Drilling locations and significant results at Tarabala for the latest drilling.

TORONTO, March 01, 2021 (GLOBE NEWSWIRE) — Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the recently completed drilling at the Tarabala prospect, located on the Company’s Sikasso Property in Southern Mali (Figure 1).

Highlights

• Infill drilling at Tarabala confirmed a broad, shallow gold target, associated with a shear zone, extending at least 1-kilometre; remains open down dip

• Higher-grade mineralized zones were intercepted within wide zones of low-grade mineralization

• Widest and highest-grade discrete interval: 5 m @ 2.02 g/t Au (from 23 m), incl. 1 m @ 6.77 g/t Au (from 24 m).

• Widest interval: 17 m at 0.73 g/t Au (from 18 m), including 1 m @ 2.32 g/t Au (from 28m) and 2 m @ 1.91 g/t Au (from 31 m)

• Results expected in early March from three deeper reverse circulation (RC) holes

Compass CEO, Larry Phillips, said, “We continue to receive encouraging assay results from the latest air core drill program at our Tarabala prospect, which confirmed the presence of wide, shallow zones of gold mineralization and continuity over at least one kilometre. We’re awaiting the results from three RC drill holes we’ve just finished, which were testing for deeper mineralization along this promising target zone. At the same time, we’re aggressively executing our drill program to the north and south of Tarabala, and preparing an initial drill program on our Sodala and Dialéké prospects, both of which are associated with strong soil anomalism and the presence of artisanal workings.”

Dr. Sandy Archibald, PGeo, Technical Director, added, “Drilling at Tarabala has again underlined the strength of our exploration approach, including the importance of ground geophysics, as these new mineralized intervals were encountered where expected. Horizontal and vertical variation is normal in this style of gold mineralization (shear-zone-hosted), so I look forward to seeing the assay results from the three pending RC drill holes at Tarabala to help us decide our next steps there. Meanwhile, we have also finished drilling 3 km to the north at our Massala prospect and are currently drilling the Assama prospect, 5 km to the south of Tarabala. I am also eager to review the first drill results from those prospects, the first of which we hope to get in early March.”

Tarabala Drilling Results

Twenty-five (25) shallow air core (AC) holes (1,328 m) and three deeper reverse circulation (RC) holes (344 m) were drilled at Tarabala (Figure 1) in late January and early February. This work tested the lateral extent, grade continuity, and orientation of a wide zone of previously identified near-surface mineralization over a distance of 1-km at the prospect (See Compass press releases, June 15, 2020 and January 20, 2020). Ten of the holes were drilled to test the continuation of the mineralized structure 350 m to the north that had only be partially tested. The three RC holes were drilled to test the down-dip (open) extension to a vertical depth of up to 95 m at three locations. Assay results from these holes are expected in early March.

Fifteen (15) AC holes, SAAC106-120, were drilled as five three-hole infill fences on the previously drilled 200 m fence spacing on a 1,000 m panel of the 2,300 m target structure at Tarabala (Figure 2). Gold mineralization was encountered where predicted by previous drilling and Gradient Induced Polarization (IP) geophysics. The widest interval identified was present in SAAC109 with 17 m @ 0.73 g/t Au (from a depth of 18 m), which included two higher grade zones (1 m @ 2.32 g/t Au [from 28 m] and 2 m @ 1.91 g/t Au [from 31 m]; Table 1). This zone is within a 750 m sub-panel where previous shallow low-grade mineralized zones were identified, e.g., 18 m @ 0.43 g/t Au (SAAC02), 14 m @ 1.24 g/t Au (SAAC36), and 26 m @ 0.47 g/t Au (SAAC36). Each of these zones has discrete higher-grade intervals.

The highest grade of mineralization encountered during the current drilling program was on the southernmost fence (Figure 2). SAAC117 contained an interval with 5 m @ 2.02 g/t Au (from 23 m), which included 1 m @ 6.77 g/t Au (from 24 m).

From the ten holes drilled to test the northern extension of the mineralized structure, three contained mineralized intervals of 3 m (SAAC100, 102 and 104). The best interval was in SAAC100, which contained 3 m @ 2.12 g/t Au (from 57 m), including 5.89 g/t Au. Mineralization was present in most of the holes as isolated 1 m zones and was generally located on the interpreted target structure.

Figure 1: Property map showing the location of Tarabala and Samagouela.
https://www.globenewswire.com/NewsRoom/AttachmentNg/3188d30e-bd74-4b25-b6a6-a5f9fa262b00

Figure 2: Drilling locations and significant results at Tarabala for the latest drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/f51c296f-6d5c-4cc3-9317-817796babf2a

Three RC holes were drilled to test mineralization encountered during the January drilling program. The purpose of the drilling was to determine if mineralization is present adjacent to the contact with the Tarabala fault, and also test the down-dip extension of the open near-surface mineralization. Results from these holes are pending, but are expected to be received within two weeks.

Table 1. Mineralized intervals greater than 3 m identified during recent drilling at Tarabala

_{¹True thicknesses are interpreted as 70-90% of stated intervals.
² Intervals use a 0.2-gram-per-tonne gold cut-off value}

Technical Details

All AC holes from Tarabala reported here were drilled on an azimuth of 270° (towards the west), at dips of 55°, with lengths varying from 42 to 72 m. These fences of holes were to test structures interpreted from the Gradient IP survey, and potential mineralized trends identified by earlier drilling by Compass. Drilling was performed by Etasi and Co. Drilling (Mali). All samples were prepared by Compass staff and an appropriate number of standards, duplicates and blanks were submitted and analysed for gold at SGS (Bamako, Mali) by fire assay.

Next Steps

A 24-hole (1,200 m) drilling program has been completed at Massala, located 3 km north of the Tarabala area, and assays are pending. A 23-hole (1,270 m) drilling program is underway at the Assama prospect, 5 km to the south of Tarabala. Both target areas are associated with the Tarabala fault, moderate soil anomalism, and active and historic artisanal activity.

Drilling pads are currently being prepared at Sodala and Dialéké (on the Farabakoura Trend; Figure 1).

Ongoing in-fill shallow soil sampling and ground geophysics are continuing on other parts of the Sikasso property, and new targets are continually being appraised and identified.

About Compass Gold Corp.

Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the TSX- V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 867 sq. km. The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. The Company’s Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy Archibald, P.Geo, is conducting the current exploration program. They are examining numerous anomalies first noted in Dr. Archibald’s August 2017 “National Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali.”

QAQC

All AC samples were collected following industry best practices, and an appropriate number and type of certified reference materials (standards), blanks and duplicates were inserted to ensure an effective QAQC program was carried out. The 1 m interval samples were prepared and analyzed at SGS SARL (Bamako, Mali) by fire assay technique FAE505. All standard and blank results were reviewed to ensure no failures were detected.

Qualified Person

This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo, Compass’s Technical Director, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.

Forward‐Looking Information
This news release contains "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the Company’s planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward‐looking information except as required by applicable law.

For further information please contact:

Website: www.compassgoldcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Toronto, Ontario–(Newsfile Corp. – March 1, 2021) – CMC Metals Ltd (TSXV: CMB) is pleased to announce that the company will be presenting at Red Cloud’s 2021 Pre-PDAC Mining Showcase. We invite our shareholders and all interested parties to join us there.

The annual conference will be a virtual event this year and will take place from March 3-5, 2021.

Kevin Brewer, President and CEO will be presenting on March 3rd at 9:00 AM Eastern Standard time.

For more information and/or to register for the conference please visit: https://www.redcloudfs.com/prepdac2021/.

We look forward to seeing you there.

For further information:

CMC Metals Ltd
Kevin Brewer
6046050166
kbrewer80@hotmail.com
www.cmcmetals.ca

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

Given this risk, we thought we'd take a look at whether Encounter Resources (ASX:ENR) shareholders should be worried about its cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

View our latest analysis for Encounter Resources

When Might Encounter Resources Run Out Of Money?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. When Encounter Resources last reported its balance sheet in June 2020, it had zero debt and cash worth AU$1.9m. In the last year, its cash burn was AU$3.0m. That means it had a cash runway of around 7 months as of June 2020. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. However, if we extrapolate the company's recent cash burn trend, then it would have a longer cash run way. Depicted below, you can see how its cash holdings have changed over time.

How Is Encounter Resources' Cash Burn Changing Over Time?

While Encounter Resources did record statutory revenue of AU$42k over the last year, it didn't have any revenue from operations. To us, that makes it a pre-revenue company, so we'll look to its cash burn trajectory as an assessment of its cash burn situation. With the cash burn rate up 11% in the last year, it seems that the company is ratcheting up investment in the business over time. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Admittedly, we're a bit cautious of Encounter Resources due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Encounter Resources Raise More Cash Easily?

Given its cash burn trajectory, Encounter Resources shareholders should already be thinking about how easy it might be for it to raise further cash in the future. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Encounter Resources' cash burn of AU$3.0m is about 5.6% of its AU$54m market capitalisation. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

So, Should We Worry About Encounter Resources' Cash Burn?

On this analysis of Encounter Resources' cash burn, we think its cash burn relative to its market cap was reassuring, while its cash runway has us a bit worried. Summing up, we think the Encounter Resources' cash burn is a risk, based on the factors we mentioned in this article. Taking a deeper dive, we've spotted 6 warning signs for Encounter Resources you should be aware of, and 2 of them are concerning.

Of course Encounter Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

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.

If you want to know who really controls Jervois Mining Limited (ASX:JRV), then you'll have to look at the makeup of its share registry. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.

Jervois Mining is a smaller company with a market capitalization of AU$409m, so it may still be flying under the radar of many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about Jervois Mining.

Check out our latest analysis for Jervois Mining

What Does The Institutional Ownership Tell Us About Jervois Mining?

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

We can see that Jervois Mining does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Jervois Mining, (below). Of course, keep in mind that there are other factors to consider, too.

Jervois Mining is not owned by hedge funds. Canadian Register Control is currently the largest shareholder, with 24% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 14% and 3.0%, of the shares outstanding, respectively.

A closer look at our ownership figures suggests that the top 18 shareholders have a combined ownership of 50% implying that no single shareholder has a majority.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There is a little analyst coverage of the stock, but not much. So there is room for it to gain more coverage.

Insider Ownership Of Jervois Mining

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

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

We can see that insiders own shares in Jervois Mining Limited. It has a market capitalization of just AU$409m, and insiders have AU$36m worth of shares, in their own names. It is good to see some investment by insiders, but it might be worth checking if those insiders have been buying.

General Public Ownership

The general public holds a 50% stake in Jervois Mining. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.

Private Company Ownership

Our data indicates that Private Companies hold 25%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand Jervois Mining better, we need to consider many other factors. Like risks, for instance. Every company has them, and we've spotted 4 warning signs for Jervois Mining (of which 1 shouldn't be ignored!) you should know about.

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

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

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

It is doubtless a positive to see that the Iluka Resources Limited (ASX:ILU) share price has gained some 39% in the last three months.

See our latest analysis for Iluka Resources

To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

Iluka Resources became profitable within the last five years. We would usually expect to see the share price rise as a result. So given the share price is down it's worth checking some other metrics too.

The modest 0.3% dividend yield is unlikely to be guiding the market view of the stock. With revenue flat over three years, it seems unlikely that the share price is reflecting the top line. There doesn't seem to be any clear correlation between the fundamental business metrics and the share price. That could mean that the stock was previously overrated, or it could spell opportunity now.

The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).

We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. If you are thinking of buying or selling Iluka Resources stock, you should check out this free report showing analyst profit forecasts.

What About Dividends?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Iluka Resources' TSR for the last 3 years was 51%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.

A Different Perspective

It's nice to see that Iluka Resources shareholders have received a total shareholder return of 77% over the last year. And that does include the dividend. That gain is better than the annual TSR over five years, which is 16%. Therefore it seems like sentiment around the company has been positive lately. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. It's always interesting to track share price performance over the longer term. But to understand Iluka Resources better, we need to consider many other factors. Even so, be aware that Iluka Resources is showing 1 warning sign in our investment analysis , you should know about…

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

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

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

SÃO PAULO, Feb. 26, 2021 /PRNewswire/ — Banco Santander (Brasil) S.A. ("Santander Brasil") announces that its Annual Report on Form 20-F (the "20-F"), reporting its financial and operational data for 2020, was filed with the U.S. Securities and Exchange Commission, or the SEC, and with the Brazilian Securities and Exchange Commission, the Comissão de Valores Mobiliários, or CVM, on February 26, 2021. The document has been posted on Santander Brasil's website, https://www.santander.com.br/ri.

The 20-F contains detailed information about Santander Brasil, including certifications under the U.S. Sarbanes-Oxley Act, which attest to the effectiveness of Santander Brasil's internal controls and procedures. Santander Brasil's independent auditors, PricewaterhouseCoopers Auditores Independentes, issued an audit opinion on the financial statements and the effectiveness of internal controls over financial reporting as of December 31, 2020.

Santander Brasil's shareholders may receive a hard copy of this document, which contains the Company's complete audited financial statements, free of charge, upon request. Requests should be directed to:

Investor Relations Department
Av. Presidente Juscelino Kubitschek, 2235 – 26º Floor
04543-011 – São Paulo / SP – Brasil
Phone: +55 (11) 3553 3300
E-mail: ri@santander.com.br

Angel Santodomingo
Investor Relations Officer
BANCO SANTANDER (BRASIL) S.A.

View original content:http://www.prnewswire.com/news-releases/banco-santander-brasil-sa-notice-to-the-market—filing-of-form-20-f-301236769.html

SOURCE Banco Santander (Brasil) S.A.

Toronto, Ontario–(Newsfile Corp. – February 26, 2021) – Xtierra Inc. (TSXV: XAG) ("Xtierra" or the "Company") is pleased to announce further positive and consistent drill results on another two drill holes of a five-hole program totaling 1800 meters into a previously identified structure (Victor vein) with high-grade silver mineralization located adjacent to and west of the main Bilbao Silver-Lead-Zinc deposit.

The objective of the third hole, X6B, was to test the continuity between the two best drill hole results from the 2010-2013 exploration work in which X26 intersected 6.0 meters of 847 Ag/t at 381 meters depth and X40-1 with 2.45 meters of 1623 Ag/t at 424 meters depth. Drill hole X6B was 459.05 meters in length with 97% core recovery and intersected six different levels of silver/base metal mineralization but exhibiting weaker mineralization southwest of X26, as follows:

The objective of the fourth hole, X7B was to test the continuity between X5B at the northern end of the Victor vein structure and X6B. Drill hole X7B with a total depth of 308.7 meters a core recovery of 93% also intersected Silver and Lead, Zinc, Copper mineralization at two levels of elevation, as follows:

It is important to compare these drill results to the average grades of the resource estimate used in the preliminary economic assessment (PEA) of the main Bilbao deposit by Runge Pincock Minarco (Canada) Limited ("RPM") dated April 28, 2014. This independent Technical Report in accordance with NI 43-101 reported a resource estimate on the Bilbao Project with average grades of 2.1% zinc, 1.4% lead and 63.96 g/t silver, based on 3 year trailing average metal prices of: Zinc US$0.94/lb, Lead US$1.01/lb and Silver US$30.24/ounce. The mine plan incorporated in the PEA targeted the extraction of only the lower, unoxidized, sulphide zone based on a production rate of 2,000 tonnes per day, or 720,000 tonnes per year for a total of 5.2 million tonnes with over a mine life of approximately 8 years. Compared with the main Bilbao deposit, the current targeted mineralization is associated with a relatively narrow vein structure, possibly with skarn overtones.

Commenting on the results, Tim Gallagher, Company President said, "The drill results on the first four holes are consistent with our expectations and demonstrating the continuity of the mineralization within the Victor vein which should improve the economics of the Bilbao deposit, especially with the much-improved outlook for silver prices, approaching the US$30 per ounce level. We are waiting on analytical results on the fifth and final drill hole, X8B, which was drilled just north of the southernmost previous drill hole X100 which intersected 1 meter of 810 g/t Ag to test the extension of the Victor vein where it intersects a manto stockwork area, before determining next steps."

Drill core samples were sent to an SGS laboratory in Durango using the GE_ICP14B analytical method. Historically, samples from half-core were prepared at the Stewart Group laboratory in Zacatecas and analyzed for multi-element content using ICP-MS by Stewart Group in Kamloops, British Columbia. Standards and blanks were used regularly for quality control. Significant mineralized intervals are reported in the table as core lengths and estimated true thickness (70 to 95 per cent of core length).

Qualified Person

Scientific and technical information disclosed in this press release was prepared by or under the supervision of and approved by Gerry J. Gauthier, P. Eng., a Director and former President of the Company and a 'Qualified Person' within the meaning of NI 43-101.

* * * * * *

About Xtierra Inc.

Xtierra is a natural resource company with precious and base metal mineral properties in the Central Silver Belt of Mexico in the State of Zacatecas and is pursuing new opportunities including identifying and evaluating new potential royalty acquisitions.

Xtierra holds a 100% interest, subject to a 1.5% net smelter royalty repurchased in July 2019, on the Bilbao project silver-lead-zinc-copper project located in the southeastern part of the State of Zacatecas.

Xtierra owns 88% of the outstanding shares of Minera Portree de Zacatecas, S.A. de C.V ("Minera Portree") which holds various legal or royalty interests in certain mineral properties in Mexico, including the Company's Bilbao property, and an asserted claim to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine operated by Capstone Mining Corp., which claim is challenged by Capstone.

For further information contact Xtierra Inc. at info@xtierra.ca

John F. Kearney
Chairman
(416) 362-6686

Tim Gallagher
President & Director
(416) 925‐0090

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75583