In this article we will take a look at whether hedge funds think Rio Tinto Group (NYSE:RIO) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock picks historically outperformed the market after adjusting for known risk factors.

Rio Tinto Group (NYSE:RIO) investors should be aware of a decrease in enthusiasm from smart money of late. Rio Tinto Group (NYSE:RIO) was in 21 hedge funds' portfolios at the end of the second quarter of 2021. The all time high for this statistic is 26. There were 25 hedge funds in our database with RIO positions at the end of the first quarter. Our calculations also showed that RIO isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 79 percentage points since March 2017 (see the details here). That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.

best defensive stocks to buy according to ken fisherbest defensive stocks to buy according to ken fisher
best defensive stocks to buy according to ken fisher

Ken Fisher of Fisher Asset Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. With all of this in mind we're going to take a look at the latest hedge fund action regarding Rio Tinto Group (NYSE:RIO).

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

At the end of June, a total of 21 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -16% from one quarter earlier. On the other hand, there were a total of 20 hedge funds with a bullish position in RIO a year ago. With hedgies' sentiment swirling, there exists a few noteworthy hedge fund managers who were adding to their stakes considerably (or already accumulated large positions).

Is RIO A Good Stock To Buy?Is RIO A Good Stock To Buy?
Is RIO A Good Stock To Buy?

Among these funds, Fisher Asset Management held the most valuable stake in Rio Tinto Group (NYSE:RIO), which was worth $1084.4 million at the end of the second quarter. On the second spot was Arrowstreet Capital which amassed $156.8 million worth of shares. Masters Capital Management, Impala Asset Management, and Citadel Investment Group were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Impala Asset Management allocated the biggest weight to Rio Tinto Group (NYSE:RIO), around 5.06% of its 13F portfolio. Impala Asset Management is also relatively very bullish on the stock, dishing out 3.24 percent of its 13F equity portfolio to RIO.

Judging by the fact that Rio Tinto Group (NYSE:RIO) has experienced falling interest from hedge fund managers, it's safe to say that there is a sect of money managers that slashed their positions entirely in the second quarter. At the top of the heap, Ken Heebner's Capital Growth Management dumped the biggest investment of all the hedgies monitored by Insider Monkey, valued at close to $23.3 million in stock, and Benjamin A. Smith's Laurion Capital Management was right behind this move, as the fund said goodbye to about $23.3 million worth. These transactions are important to note, as total hedge fund interest fell by 4 funds in the second quarter.

Let's now review hedge fund activity in other stocks similar to Rio Tinto Group (NYSE:RIO). We will take a look at HDFC Bank Limited (NYSE:HDB), Intuit Inc. (NASDAQ:INTU), BlackRock, Inc. (NYSE:BLK), American Express Company (NYSE:AXP), Starbucks Corporation (NASDAQ:SBUX), Sanofi (NYSE:SNY), and International Business Machines Corp. (NYSE:IBM). This group of stocks' market caps are similar to RIO's market cap.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position HDB,39,1731917,12 INTU,66,5382791,-2 BLK,47,1282801,5 AXP,52,28660485,-1 SBUX,63,4757968,2 SNY,16,1261299,1 IBM,41,1373521,0 Average,46.3,6350112,2.4 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 46.3 hedge funds with bullish positions and the average amount invested in these stocks was $6350 million. That figure was $1420 million in RIO's case. Intuit Inc. (NASDAQ:INTU) is the most popular stock in this table. On the other hand Sanofi (NYSE:SNY) is the least popular one with only 16 bullish hedge fund positions. Rio Tinto Group (NYSE:RIO) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for RIO is 30.2. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24% in 2021 through October 22nd and surpassed the market again by 1.6 percentage points. Unfortunately RIO wasn't nearly as popular as these 5 stocks (hedge fund sentiment was quite bearish); RIO investors were disappointed as the stock returned -19.7% since the end of June (through 10/22) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2021.

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

Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) ("Canterra" or the "Company") is pleased to provide an update to its fall drill program and to announce that it has defined several new gold targets on the never-before-explored western part of its Wilding Gold Project ("Wilding") in central Newfoundland. Assay results are pending for all drill holes.

Highlights:

  • 2,400m completed in 10 drill holes, almost half of the planed meterage of the fall drill program

  • The first holes ever drilled into the Valentine Lake Shear Zone ("VLSZ") intersected the Valentine Lake intrusion, mafic dikes and quartz- veins similar to the deposit setting at the neighboring Valentine Lake Gold project

  • Gold-in-soil samples returned 11 to 167 ppb Au along the trace of the VLSZ as it trends northeast from Marathon Gold's Valentine Lake Gold Project

  • Gold-in-soil samples returned 12 to 49 ppb Au, indicating a new target in the previously unsampled western portion of the Wilding property

  • Results from summer and fall work indicate that the same geological setting to that of Marathon Gold's deposits exists on the Wilding project as the VLSZ trends for 7.5km across the Wilding project

Chris Pennimpede, CEO & President of Canterra, commented, "Identification of the Valentine Lake Shear Zone, and the intersection of the same lithologies and veining in drilling as seen next door at Marathon Gold, is an important confirmation of the geological model underlying exploration at Wilding and a very positive step forward for Canterra. The continuation of gold anomalies on the newly explored western part of the project continues to prove that the exploration potential for an orogenic style gold deposit on the property extends for the entirety of the 7.5km of the VLSZ that the Wilding project covers. We look forward to receiving assay results from the first holes in the VLSZ."

Geochemical Results

Results from summer 2021 soil sampling have been received, and have revealed new gold targets, including a zone of elevated Au grades (from 11 to 167 ppb Au) along the inferred continuation of the VLSZ near the western margin of Wilding. This target adds to several other gold-in-soil anomalies along the VLSZ, which is currently being tested as part of the Fall 2021 drilling program. In addition, a group of samples ranging from 12 to 49 ppb gold indicate a new target in the previously unsampled western portion of Wilding. This target has been interpreted based on airborne magnetic data representing a possible zone of thrusting, which appears to be associated with gold mineralization at the Elm and Alder veins.

Figure 1 – Compilation of existing and new gold-in-soil results. New targets along the VLSZ and in the west Wilding area are shown, as well as existing targets along the VLSZ.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/8054/100605_80140d1354fe29b8_001full.jpg

Drilling Update
Canterra has completed 2,400m (10 holes) of diamond drilling at Wilding, as part of a 5,000m program aimed at testing several targets across the property. These targets include the inferred northeastward continuation of the VLSZ which is the major control of mineralization at the adjacent Marathon Gold Project. The first three holes were drilled to test this target, and all successfully intersected the VLSZ, which is defined by a sheared contact between the Rogerson Lake Conglomerate and Valentine Lake Intrusion granitoids with numerous mafic dykes. Adjacent to this contact, quartz-tourmaline-pyrite ("QTP") veins are developed within the granitoids and mafic dykes (Figures 3 and 4).

Figure 2 – Map of currently completed and planned drill holes.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/8054/100605_80140d1354fe29b8_002full.jpg

Figure 3 – Example of Valentine Lake Intrusive Suite with numerous mafic dykes and QTV adjacent to the VLSZ (drillhole WL-21-50).

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/8054/100605_80140d1354fe29b8_003full.jpg

Figure 4 – Altered granitoid and mafic dykes with extensional quartz veins developed adjacent to the VLSZ (drillhole WL-21-52).

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/8054/100605_80140d1354fe29b8_004full.jpg

Remaining targets being tested include the expansion of the Red Ochre mineralized zone, the recently discovered Dogberry zone and the extension of the Elm and Alder quartz veins. Results from summer and fall 2021 exploration indicate that the VLSZ that is host to Marathon Gold's deposits exists on the Wilding project and trends for 7.5km. In addition, several additional orogenic gold targets have been identified and are being tested.

About Canterra Minerals

Canterra is earning a 100% interest in the Wilding and Noel Paul Gold Projects, located 50km south, by logging road, from Millertown and directly northeast of Marathon Gold's Valentine Lake Gold Project in Central Newfoundland. The 285km2 property package includes 50km of the northeastern strike-extension of the Rogerson Lake Structural Corridor, which hosts Marathon Gold's Valentine Lake deposits, Matador Mining's Cape Ray deposit, Sokoman's Moosehead discovery and TRU Precious Metals' Golden Rose and Twilight discoveries. A $2.75 million exploration program is underway, focusing on drilling and surface exploration on the Wilding Gold Project. This program will include additional diamond drilling on the existing zones and follow up trenching and diamond drilling on numerous targets identified from previous soil geochemistry sampling. Canterra's team has more than 100 years of experience searching for gold and diamonds in Canada and has been involved in the discovery of the Snap Lake diamond mine, in addition to the discovery of the Blackwater Gold deposit in British Columbia, Canada.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Luke Longridge, Canterra Minerals' Vice President of Exploration, PhD, P.Geo., a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO

Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com

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

Cautionary Note Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, and include statements with respect to the anticipated timing for closing of the Acquisition, statements with respect to the estimates of mineral resources on the properties to be acquired by the Company, statements with respect to the Company having a suite of deposits with significant exploration upside and statements with respect to the Company's expectation to be well positioned to make that next mineral discovery in central Newfoundland. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the failure to complete the terms of the Agreement, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; the business and operations of the Company; unprecedented market and economic risks associated with current unprecedented market and economic circumstances due to the COVID-19 pandemic, as well as those risks and uncertainties identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100605

MELBOURNE, Australia, October 23, 2021–(BUSINESS WIRE)–Rio Tinto, BHP and Fortescue Metals Group (Fortescue) have agreed to partner and fund innovative, industry-first learning programs as part of a continued commitment towards mining sector workplaces that are free from sexual harassment, bullying and racism.

Through this partnership, Rio Tinto, BHP and Fortescue will fund and contribute to the design, build and implementation of new social awareness education packages for deployment through a range of education providers such as TAFE, Registered Training Organisations (RTOs), universities and high schools.

By starting conversations on these vital topics through education providers, the industry can make an important contribution to raise awareness of social wellbeing and related behaviours (collectively referred to as "psychosocial harm") for the benefit of all Western Australians.

The collaboration partners will invite leading experts in social wellbeing to form part of a working group bringing together government, community, industry and educators across TAFE, RTOs, universities and high schools in Western Australia to design and implement the program.

A pilot program for TAFE students will be developed through South Metropolitan TAFE. The pilot, to be developed in 2022, will form part of core learning requirements for students who may be planning to join Rio Tinto, BHP or Fortescue. South Metropolitan TAFE will go on to share this education package through the broader WA TAFE network.

The partnership will also explore the potential to work with universities and high schools to encompass broader education pathways across the State, as well as for delivery in workplaces. In time, these packages will be made available for application across broader industries and across other parts of Australia.

The education program is one of a number of initiatives introduced by mining companies to address sexual harassment, bullying and racism in WA’s mining sector.

All three companies joined with the Chamber of Minerals and Energy earlier this year to pledge support for the parliamentary inquiry into sexual harassment against women in the FIFO mining industry and committed to work together to eradicate these behaviours from the sector.

Comments attributed to Rio Tinto Chief Executive, Iron Ore, Simon Trott:

"Our number one priority is the safety, health and wellbeing of our people and our communities.

"We recognise that we have some way to go to achieve workplaces free from sexual harassment, bullying and racism across our industry and we are committed to making the changes needed to create a safer work environment where respectful behaviour is experienced by everyone.

"Education is one part of a range of measures Rio Tinto is introducing to create safer workplaces, including building leadership capability, improving our camp facilities, new rules on the consumption of alcohol, as well as improving the way we prevent, respond to, report and investigate incidents in order to build a respectful, safe and inclusive culture.

"We expect this partnership with BHP and FMG will help build a safer workplace and help empower our future workforce to create the culture we need."

Comments attributed to BHP WA Iron Ore asset president Brandon Craig:

"Sexual assault and sexual harassment have no place at BHP or anywhere in our industry.

"We are committed to providing a safe and inclusive workplace at all times, where disrespectful behaviours are eliminated.

"Education and training are critical to ensuring common understanding of the behaviours that are appropriate and acceptable at BHP.

"This industry collaboration will complement our existing internal training programs, leadership training, communication campaigns, and upgrades to camp security, and support services available to anyone who experiences disrespectful behaviour."

Comments attributed to Fortescue Metals Group Chief Executive Officer, Ms Elizabeth Gaines:

"The safety and wellbeing of the Fortescue family is our highest priority and we are strongly committed to providing a safe, diverse and inclusive work environment for all our team members.

"There is no place for harassment and bullying of any kind in the mining sector or in any workplace, and we will continue to work with industry partners to take decisive action to ensure our workplaces are safe for everyone.

"In line with our value of empowerment, this partnership with Rio Tinto and BHP will provide young West Australians looking at a career in the mining sector with the skills to identify and speak up against inappropriate behaviour and enhance the safety, culture and experience of working in WA’s mining sector."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211023005002/en/

Contacts

Media contacts
Kate Barcham
0438 990 238
Kate.barcham@riotinto.com

Jamie Macdonald
0467 725 517
Jamie.Macdonald@riotinto.com

Alana Buckley-Carr
0416 295 600
alana.buckleycarr@bhp.com

Michael Vaughan
0422 602 720
mediarelations@fmgl.com.au

Category: Pilbara

Mosaic (MOS) closed at $42.01 in the latest trading session, marking a -0.38% move from the prior day. This move lagged the S&P 500's daily loss of 0.11%.

Coming into today, shares of the fertilizer maker had gained 20.59% in the past month. In that same time, the Basic Materials sector gained 6.23%, while the S&P 500 gained 4.61%.

Wall Street will be looking for positivity from MOS as it approaches its next earnings report date. This is expected to be November 1, 2021. In that report, analysts expect MOS to post earnings of $1.59 per share. This would mark year-over-year growth of 591.3%. Our most recent consensus estimate is calling for quarterly revenue of $3.8 billion, up 59.69% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.99 per share and revenue of $12.46 billion, which would represent changes of +487.06% and +43.53%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for MOS. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.52% higher within the past month. MOS is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that MOS has a Forward P/E ratio of 8.46 right now. For comparison, its industry has an average Forward P/E of 13.88, which means MOS is trading at a discount to the group.

Also, we should mention that MOS has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Fertilizers was holding an average PEG ratio of 1.47 at yesterday's closing price.

The Fertilizers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.

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

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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To read this article on Zacks.com click here.

By Clara Denina and Melanie Burton

LONDON/MELBOURNE (Reuters) -Australia's securities watchdog has closed its investigation into former Rio Tinto Ltd executive Alan Davies over an alleged $10.5 million payment to a consultant in Guinea, citing insufficient evidence, according to a letter reviewed by Reuters.

Davies, formerly Rio's Energy and Minerals chief executive, was fired in late 2016 after Rio Tinto became aware https://www.reuters.com/article/us-rio-tinto-guinea-terminates-idUSKBN13B2Y4 of emails from 2011 that referred to payments to the consultant in connection with its vast Simandou iron ore project in the West African nation.

According to the letter, ASIC's investigation covered directors duties like care and diligence and operating in good faith, obligations of honesty, and true and correct books and records. It closed the investigation on all individuals involved.

"ASIC has concluded its investigation on the basis that there is insufficient evidence to establish to a court that there has been a breach of the law," the Australian Securities and Investments Commission (ASIC) said in the letter, dated Oct. 19 and addressed to Davies.

"As I said in 2016, Rio Tinto did have no grounds to dismiss me and that continues to be my view," Davies told Reuters.

Rio Tinto had no immediate comment.

ASIC acknowledged the letter, saying it would not take enforcement action. "We've noted that ASIC may recommence its investigation, or commence enforcement action, if circumstances change," a spokesperson said.

A spokesperson at London's Serious Fraud Office, which also started an investigation https://www.reuters.com/article/uk-britain-sfo-rio-tinto-idUKKBN1A9246 into the matter in 2017, said on Thursday that the probe remains active. Rio said at the time it had also referred the allegations to U.S. regulators.

(Reporting by Melanie Burton and Clara DeninaAdditional reporting by Kirstin Ridley in London;Editing by Richard Pullin and Frances Kerry)

By Ernest Scheyder

(Reuters) -A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans. "It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.

Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.

The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.

Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.

An attorney for the Apache Stronghold said the group was optimistic the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.

"It's really hard and frankly dangerous to try to predict which way the court is going to rule based on oral arguments," Luke Goodrich, an attorney for Apache Stronghold, told a San Francisco press conference after the hearing. "I think they'll see what the right thing is to do."

Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.

The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.

Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.

The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.

U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.

"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.

Goodrich, the attorney for Apache Stronghold, disagreed.

"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he told the court.

Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.

Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.

"When a statute and treaty rights conflict, the statue abrogates it," she said.

U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.

(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)

(Adds quote from press conference)

By Ernest Scheyder

Oct 22 (Reuters) – A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans.

"It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.

Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.

The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.

Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.

An attorney for the Apache Stronghold said the group was optimistic the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.

"It's really hard and frankly dangerous to try to predict which way the court is going to rule based on oral arguments," Luke Goodrich, an attorney for Apache Stronghold, told a San Francisco press conference after the hearing. "I think they'll see what the right thing is to do."

Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.

The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.

Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.

The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.

U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.

"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.

Goodrich, the attorney for Apache Stronghold, disagreed.

"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he told the court.

Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.

Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.

"When a statute and treaty rights conflict, the statue abrogates it," she said.

U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.

(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)

Mosaic (MOS) closed at $42.17 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%.

Prior to today's trading, shares of the fertilizer maker had gained 28% over the past month. This has outpaced the Basic Materials sector's gain of 7.79% and the S&P 500's gain of 4.28% in that time.

MOS will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $1.63, up 608.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 60.82% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.48 billion, which would represent changes of +490.59% and +43.77%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for MOS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.14% higher within the past month. MOS is currently a Zacks Rank #2 (Buy).

In terms of valuation, MOS is currently trading at a Forward P/E ratio of 8.47. This represents a discount compared to its industry's average Forward P/E of 14.81.

It is also worth noting that MOS currently has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Fertilizers stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.

The Fertilizers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.

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

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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KELOWNA, BC / ACCESSWIRE / October 21, 2021 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), ("Diamcor" or, the "Company") announced today it continued to achieve significant results in this quarter's initial tender and sale of rough diamonds recovered from the processing of quarry material through its recently upgraded processing facilities at the Company's Krone Endora at Venetia Project (the "Project"). In this sale completed just weeks into the quarter, a total of 2,516.91 carats of rough diamonds were sold, generating gross revenues of USD $483,422.14, resulting in an average price of USD $192.07 per carat for these diamonds. The Company is targeting two additional tender and sales during the quarter in conjunction with the Company's long-standing associates, Koin International, at their new state of the art tender facilities in Dubai, UAE.

"We are very pleased with the results of this tender and sale in just the first two weeks of this quarter," stated Mr. Dean Taylor, Diamcor CEO. "In addition to these excellent results and positive start to the quarter, the recently completed phase one upgrades are continuing to demonstrate their potential for even further increases in processing volumes over the coming weeks".

Acceleration of Expiry Date for Amended Warrants

Further to the warrant amendments announced in the Company's news releases dated June 4, 2021 and August 6, 2021, the required accelerated expiry provision in the amended warrant terms has been triggered by virtue of the closing price of the Company's shares having exceed $0.375 for 10 consecutive trading days (the "Premium Trading Days"). The tenth Premium Trading Day occurred on October 19, 2021. Accordingly, in accordance with TSX Venture Exchange policy, a reduced exercise period of 30 days will begin on October 21, 2021. As a result, the amended warrants will now expire on November 20, 2021.

Expiring Warrants

The two tranches of warrants (collectively, the "Expiring Warrants") affected by the automatic acceleration of the expiry date are:

  1. 2,857,975 warrants issued pursuant to a Private Placement financing by the Company that closed in June 2018 which were issued at $0.60 with an expiry date of June 20, 2021 and were subsequently repriced to $0.30 and extended up to a year, and

  2. 1,755,157 warrants issued pursuant to a Private Placement financing by the Company that closed in August 2018 which were issued at $0.60 with an expiry date of August 29, 2021 and were subsequently repriced to $0.30 and extended up to a year.

The new expiry date of the warrants listed above is November 20, 2021. Any warrants that are unexercised will expire and be cancelled after 5:00 p.m. (Pacific time) on November 20, 2021.

Expiring Warrants Background

On October 19, 2021, Diamcor's share price closed at $0.465, after closing at or above $0.375 for a period of 10 consecutive trading days. Based on the terms of the TSX Venture Exchange's warrant repricing policies in respect to the Company's Expiring Warrants, this triggers a required acceleration of the Expiry Date of the Expiring Warrants held by shareholders who participated in the respective private placements detailed in the Company's news releases dated June 20, 2018 and August 29, 2018. The exercise period of the Expiring Warrants has been accelerated to a date that is 30 days subsequent to formal Company notification as established by this news release. The new Expiry Date of the Expiring Warrants is November 20, 2021. Any Expiring Warrants that are unexercised will expire and be cancelled after 5:00 p.m. (Pacific time) on November 20, 2021.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) -757-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

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

SOURCE: Diamcor Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/669022/Diamcor-Announces-Results-of-Initial-Tender-and-Acceleration-of-Expiry-Date-for-Amended-Warrants

(Bloomberg) — After a bumper third quarter, the world’s No. 2 iron ore miner is cutting back on lower quality supply after prices of the steelmaking ingredient plunged.

Most Read from Bloomberg

Vale SA produced more than analysts expected and surpassed both the previous quarter and the year-ago period as part of an ongoing recovery from a 2019 tailings dam disaster and thanks to better weather.

But with iron ore futures down from peaks earlier this year and being highly volatile amid Chinese curbs on steel output and concerns over the Asian nation’s property market, the Brazilian miner is looking to defend margins.

“Production and sales strategy is based on market conditions, prioritizing value over volume, with focus on margin maximization,” Vale said Tuesday in its production report.

Vale’s shares dropped as much as 3.4% in Sao Paulo before paring some losses, to trade 2.2% lower at 12:51 p.m. local time.

Analysts foresee weaker iron-ore sales for this year and next as the Rio de Janeiro-based company focuses on reducing lower quality volumes to protect margins. Lower-than-expected shipments in the fourth quarter and 2022 “could provide some support to iron ore prices, while also improving Vale’s price realization due to an improved product mix,” Bradesco BBI analyst Thiago Lofiego said in an Oct. 19 report.

The Brazilian mining giant churned out 89.4 million metric tons in the third quarter to top the average analyst estimate of 87.3 million tons, showing the recovery is on track despite sluggish permitting in its prized deposits in northern Brazil. That may help counter a drop in shipment guidance last week by top producer Rio Tinto Group and a dip in output at BHP Group.

Vale’s sales came in only slightly ahead of the previous periods and lagged production. The company is trimming supply of lower-margin ores to the tune of 4 million tons in the fourth quarter, and possibly another 12-15 million tons next year. While 2021 output guidance was maintained, it’s likely to come in below mid range.

Bloomberg Intelligence’s baseline scenario shows a structurally oversupplied iron ore market by late 2022, with surpluses through 2024. The return of tonnage from Vale, which ships high-quality ore, is expected to account for the majority of supply growth.

Nickel Woes

Vale is also one of the world’s top nickel producers and a major copper supplier. Production of both metals fell following a strike at its Sudbury operations, with annual guidance cut. The company expects to have its Sudbury facilities back to normal this month and resume its Totten mine early next year after mine shaft repairs. Vale is scheduled to release third-quarter earnings on Oct. 28.

(Adds analysts comments and shares from fifth paragraph.)

Most Read from Bloomberg Businessweek

©2021 Bloomberg L.P.

LONDON, October 20, 2021–(BUSINESS WIRE)–Today, Rio Tinto is outlining the actions being taken to strengthen the business and improve performance. It is also unveiling a longer-term strategy to ensure it thrives in a decarbonising world and continues to deliver attractive shareholder returns, in line with its policy.

The deployment of the Rio Tinto Safe Production System is underway to ensure the Group regains its position as Best Operator. The Group is combining systematic long-term programmes with rapid improvement activities targeted at bottlenecks in order to reduce operational variability and increase resilience.

Governments are setting more ambitious targets and accelerating actions on climate change. Society at large is also demanding companies take more action to decarbonise. To meet the challenge, stay relevant and capture the opportunity Rio Tinto is raising its ambition and taking actions.

The Group is unveiling a new target to reduce its Scope 1 & 2 carbon emissions by 50 per cent by 2030, more than tripling its previous target. A 15 per cent reduction in emissions is now targeted for 2025, five years earlier than previously. These targets are supported by around $7.5 billion of direct investments to lower emissions between 2022 and 2030.

In recognition of the broader carbon footprint of the commodities it produces, Rio Tinto will accelerate its investment in R&D and development of technologies that enable its customers to decarbonise. Working in partnership with governments, suppliers, customers, academia and others Rio Tinto will continue to develop technologies like ELYSISTM for carbon-free aluminium and multiple pathways to produce green steel.

To meet additional demand created by the global drive to net zero emissions, Rio Tinto will prioritise growth capital in commodities vital for this transition with an ambition to double growth capex to about $3 billion a year from 2023.

Rio Tinto can decarbonise, pursue growth and continue to deliver attractive returns to shareholders due to its strong balance sheet, world-class assets and focus on capital discipline.

Rio Tinto Chief Executive Jakob Stausholm said "Rio Tinto is taking action to strengthen our business and improve our performance by unleashing the full potential of our people and assets, working in partnership with a broad range of stakeholders.

"All our commodities are vital for the energy transition and continue to benefit from ongoing urbanisation. We have a clear pathway to decarbonise our business and are actively developing technologies that will enable our customers and our customers’ customers to decarbonise.

"We are able to do this, while continuing to provide attractive returns to our shareholders in line with our policy, because we have a strong balance sheet and world-class assets that deliver strong free cash flows through the cycle."

Key points from the presentation include:

  • Rio Tinto is targeting a 50% reduction in scope 1&2 emissions by 2030 and a 15% reduction by 2025 from a 2018 baseline of 32.6Mt (CO2 equivalent – equity basis).

  • ~$7.5 billion in direct capital expenditure decarbonising Rio Tinto’s assets from 2022 to 2030, with a focus on renewable power for iron ore in the Pilbara and for the Australian aluminium smelters, including $0.5 billion per year from 2022 to 2024.

  • ~$200 million of incremental operating expenditure on building new capabilities, energy efficiency initiatives and R&D.

  • Overall capital guidance of ~$7.5 billion in 2021 (unchanged), ~$8 billion in 2022 (previously ~$7.5 billion) and an ambition to spend between $9 billion and $10 billion per year in 2023 and 2024. This includes sustaining capital of ~$3.5 billion a year (previously $3.0-3.5 billion), of which $1.5 billion a year relates to Pilbara Iron Ore.

Iron ore

  • Medium-term Pilbara iron ore system capacity of between 345 million and 360 million tonnes per year (on a 100% basis)1.

  • Decarbonisation of the Pilbara will be accelerated by targeting the rapid deployment of 1GW of wind and solar power. This would abate around 1 million tonnes of CO2, replace natural gas power for plant and infrastructure and support early electrification of mining equipment.

  • Full electrification of our Pilbara system, including all trucks, mobile equipment and rail operations, will require further gigawatt-scale renewable deployment and advances in fleet technologies.

  • Options to provide a greener steelmaking pathway for Pilbara iron ore are being investigated, including with biomass and hydrogen.

Aluminium

  • Rio Tinto Aluminium is the most profitable integrated aluminium business with an advantaged position in renewable energy.

  • Options are progressing to switch the Boyne Island and Tomago smelters in Australia to renewable energy, which will require an estimated ~5GW (equity basis) of solar and wind power, along with a robust firming solution.

  • A potential attractive structural change in the aluminium market driven by continued demand growth and supply-side constraints including ongoing pressures on fossil-fuel sourced energy.

  • Development of ELYSISTM to eliminate carbon emissions from the smelting process is progressing, with commercial scale technology on track for 2024.

1 Mid-term defined as upon completion of the next tranche of new and replacement mines including Western Range, Bedded Hill Top and Hope Downs 2 and Brockman Syncline to reach and sustain capacity. These mines are expected to start commissioning from 2025. To reach and sustain the upper end of the range requires the next tranche of replacement mines due between 2025 and 2027.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006262/en/

Contacts

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

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

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

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

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

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

riotinto.com

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

Category: general

VANCOUVER, BC, Oct. 20, 2021 /CNW/ – (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC) Lucara Diamond Corp. ("Lucara" or the "Company") announces that it will be publishing its 2021 Third Quarter Results on Wednesday, November 3, 2021 after market close in North America. Please view PDF version

The Company will host a conference call and webcast to discuss the results on Thursday, November 4, 2021 at 7:00 a.m. Pacific, 10:00 a.m. Eastern, 2:00 p.m. UK, 3:00 p.m. CET.

CONFERENCE CALL:
Please call in 10 minutes before the conference call starts and stay on the line (an operator will be available to assist you).

Conference ID:
40783748 / Lucara Diamond

Dial-In Numbers:

Toll-Free Participant Dial-In North America

(+1) 888 390 0546

UK Toll free

0 800 652 2435

All Other International Participant Dial-In

(+1) 778 383 7413

Webcast:
To view the live webcast presentation, please log on using this direct link:
https://produceredition.webcasts.com/starthere.jsp?ei=1505604&tp_key=96c93c6466

The presentation slideshow will also be available in PDF format for download from the Lucara website (Link to presentation).

Conference Replay:
A replay of the telephone conference will be available two hours after the completion of the call until November 11, 2021.

Replay number (Toll Free North America)

(+1) 888 390 0541

Replay number (International)

(+1) 416 764 8677

The pass code for the replay is: 783748 #.

On behalf of the Board,

Eira Thomas
President and Chief Executive Officer

Follow Lucara Diamond on Facebook, Twitter, Instagram and LinkedIn

ABOUT LUCARA
Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana and owns a 100% interest in Clara Diamond Solutions, a secure, digital sales platform positioned to modernize the existing diamond supply chain and ensure diamond provenance from mine to finger. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company operates transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment and community relations.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.

The information was submitted for publication, through the agency of the contact person set out above, at 6:00 a.m. Pacific Time on October 20, 2021.

Please view PDF version (CNW Group/Lucara Diamond Corp.)Please view PDF version (CNW Group/Lucara Diamond Corp.)
Please view PDF version (CNW Group/Lucara Diamond Corp.)

SOURCE Lucara Diamond Corp.

CisionCision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/20/c5726.html

Not for distribution to United States newswire services or dissemination in the Unites States

SUDBURY, ON / ACCESSWIRE / October 20, 2021 / Northern Superior Resources Inc. (the "Company" or "Northern Superior") (TSXV:SUP)(OTCQB:NSUPF) is pleased to announce that it has increased the size of it's previously announced, non-brokered private placement (the "Offering"), receiving commitments for $5.0M worth of investment in Northern Superior (see Northern Superior press release, October 18, 2021).

The Company has received commitments from investors to invest:

  1. C$3,299,321.00 through the issuance of 3,665,912 "flow-though" common shares of the Company to purchasers in Québec (the "Québec FT Shares"), at a issue price of $0.90 per Québec FT Share; and

  2. C$1,700,679.72 through issuance of 1,441,254 charity "flow-through" common shares of the Company to purchasers in Québec ("Québec Charity FT Shares), at a front-end issue price of $1.18 per Québec Charity FT Share.

Including a commitment from New Gold Inc. to acquire shares to maintain its 9.99% ownership stake.

Dr. Thomas Morris, CEO states: "This increase to the size of the Offering just two days after it was first announced is further proof that the momentum behind our Company is continuing to build. Again, we are very pleased to see the strong support from investors as they get more familiar with our assets and opportunities."

Closing of the Offering is still anticipated to occur on or before November 18, 2021 and remains subject to customary closing conditions including, but not limited to; the negotiation, execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Northern Superior Resources Inc.

Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Lac Surprise, Croteau Est and Wapistan properties in Québec and its TPK property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and Québec.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.

For further information contact:

Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: info@nsuperior.com
www.nsuperior.com

Forward Looking Statement:

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

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.

SOURCE: Northern Superior Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/668821/Northern-Superior-Resources-Increases-the-Size-of-Previously-Announced-Non-Brokered-Private-Placement-to-C50-Million-New-Gold-Inc-To-Maintain-Its-999-Ownership-Stake

VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces a non-brokered private placement (the “Placement”) of up to 4,000,000 units (the Units”) at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.

Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.

The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.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 news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Vancouver, British Columbia–(Newsfile Corp. – October 19, 2021) – Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) ("Canterra" or the "Company") announces that is has granted a total of 2,867,500 options under the Company's Incentive Stock Option Plan to various employees, executives, directors and advisors of the Company,. All of the options are subject to vesting provisions. The options will be granted for a period of five (5) years, commencing on October 18, 2021, exercisable at a price of $0.31 per share.

ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION

Chris Pennimpede
President & CEO

Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com

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

Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; the business and operations of the Company; unprecedented market and economic risks associated with current unprecedented market and economic circumstances due to the COVID-19 pandemic, as well as those risks and uncertainties identified and reported in the Company's public filings under its respective SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100261

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Gem Diamonds Limited (LON:GEMD) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.

When Is Debt A Problem?

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

View our latest analysis for Gem Diamonds

How Much Debt Does Gem Diamonds Carry?

The image below, which you can click on for greater detail, shows that Gem Diamonds had debt of US$14.7m at the end of June 2021, a reduction from US$23.6m over a year. But it also has US$33.9m in cash to offset that, meaning it has US$19.2m net cash.

debt-equity-history-analysisdebt-equity-history-analysis
debt-equity-history-analysis

A Look At Gem Diamonds' Liabilities

We can see from the most recent balance sheet that Gem Diamonds had liabilities of US$43.1m falling due within a year, and liabilities of US$112.0m due beyond that. Offsetting these obligations, it had cash of US$33.9m as well as receivables valued at US$6.55m due within 12 months. So its liabilities total US$114.6m more than the combination of its cash and short-term receivables.

This is a mountain of leverage relative to its market capitalization of US$116.4m. Should its lenders demand that it shore up the balance sheet, shareholders would likely face severe dilution. Despite its noteworthy liabilities, Gem Diamonds boasts net cash, so it's fair to say it does not have a heavy debt load!

Even more impressive was the fact that Gem Diamonds grew its EBIT by 406% over twelve months. If maintained that growth will make the debt even more manageable in the years ahead. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Gem Diamonds's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Gem Diamonds may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. In the last three years, Gem Diamonds created free cash flow amounting to 4.2% of its EBIT, an uninspiring performance. That limp level of cash conversion undermines its ability to manage and pay down debt.

Summing up

Although Gem Diamonds's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$19.2m. And it impressed us with its EBIT growth of 406% over the last year. So we don't have any problem with Gem Diamonds's use of debt. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. Be aware that Gem Diamonds is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored…

When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

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

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

MELBOURNE, Australia, October 18, 2021–(BUSINESS WIRE)–Rio Tinto welcomes the final report of the Joint Standing Committee on Northern Australia following its inquiry into the destruction of rock shelters at Juukan Gorge on the land of the Puutu Kunti Kurrama and Pinikura people (PKKP) in the Pilbara region of Western Australia.

Rio Tinto Chief Executive Jakob Stausholm said "We have been working hard to rebuild trust and meaningful relationships with the PKKP people and other Traditional Owners. Rio Tinto is absolutely committed to listening, learning and showing greater care, and this remains a top priority.

"We know this will take time and there will be challenges ahead, but we are focused on improving our engagement with Indigenous Peoples and our host communities to better understand their priorities and concerns, minimise our impacts, and responsibly manage Indigenous cultural heritage in and around our operations."

Following Rio Tinto’s Board Review of Cultural Heritage Management in August 2020, the company has introduced several changes to ensure heritage sites of exceptional significance, like the Juukan Gorge rock shelters, are protected and preserved.

Rio Tinto has also worked to address the recommendations made in the Committee’s interim report in December 2020 that weren’t addressed in the Board’s recommendations.

A comprehensive summary of the actions taken to strengthen heritage protection, restore trust with Traditional Owners, and drive cultural change within the business was outlined in last month’s Communities and Social Performance (CSP) Commitment Disclosure Interim Report.

The work being undertaken by Rio Tinto includes:

  • Working closely with the PKKP on the ongoing remediation of the Juukan Gorge rock shelters.

  • Undertaking a detailed review to ensure there are no other sites of exceptional cultural significance within the company’s existing mine plans. To date, Rio Tinto has reviewed 2,205 heritage sites.

  • Commencing agreement modernisation discussions with ten Pilbara Traditional Owner groups and their representatives;

  • Committing to work with Traditional Owner groups to co-design and implement leading practice cultural heritage management;

  • Progressing the establishment of an Australian Advisory Group to inform policies and positions important to Indigenous Australians and the business;

  • Building social performance capacity, capability and governance across the company. Across 60 sites in 35 countries, Rio Tinto now has more than 300 professionals working in Communities and Social Performance, up 20 per cent on last year.

As well as its overhaul of cultural heritage management and work to rebuild relationships with Traditional Owners, Rio Tinto is working to drive cultural change at every level of the business.

This includes important steps to grow Indigenous leadership, with $50 million invested to retain, attract and grow Indigenous professionals and leaders in Rio Tinto’s Australian business.

In Australia, all frontline Rio Tinto staff are undertaking cultural awareness training, with face-to-face training or e-learning with Indigenous Australians.

Rio Tinto Chief Executive, Australia, Kellie Parker said "Our determination not to repeat the events leading up to the destruction of the Juukan Gorge rock shelters is ingrained in everything we do.

"Significant changes have been made at all levels of our business and this is continuing. While we are confident we have put in place the right foundations for a better future, we know we will be judged by our actions and we are determined to get it right. The important work of the Committee has helped reinforce our priorities as we work to rebuild trust.

"We will continue to work in close consultation with Traditional Owners to better understand and protect their cultural heritage and ensure future mining activity is done in the right way, to create meaningful social and economic benefits.

"We thank the PKKP people and Traditional Owners everywhere for their engagement as we continue this vital work."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211017005075/en/

Contacts

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

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

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

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

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

riotinto.com

In this article, we discuss the top 10 dividend stock picks of billionaire Ken Fisher. If you want to skip our detailed analysis of these stocks, go directly to Billionaire Ken Fisher’s Top 5 Dividend Stock Picks.

Ken Fisher is one of the most well-known hedge fund managers on Wall Street. The portfolio of his hedge fund, Fisher Asset Management, was more than $159 billion at the end of June 2021 with the top holdings concentrated in the technology, healthcare, and financial sectors. The top ten holdings comprise over 31% of the entire portfolio. According to the latest filings, the portfolio value of the fund jumped over 18% billion between March and June this year. Fisher has a personal net worth of more than $6 billion.

During the second quarter, the billionaire, through his hedge fund, made new purchases in 86 stocks, bought additional stakes in 376, sold out of 76, and reduced holdings in 417 stocks. Over the years, Fisher has championed an investment strategy that compares the share price against expectations of growth, making handsome returns in the process. His dividend stocks picks have especially outshone the market, making him a legend in the value investing universe even though his portfolio is growth heavy.

Some of the top dividend stock picks in the Fisher Asset Management portfolio at the end of the second quarter of 2021 included The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), among others discussed in detail below. The returns of the hedge fund led by Fisher have consistently beat market benchmarks like the S&P 500 over the past few years, earning Fisher cult-like status on Wall Street and indeed around the world.

Billionaire Ken Fisher’s Top 10 High Dividend Stock PicksBillionaire Ken Fisher’s Top 10 High Dividend Stock Picks
Billionaire Ken Fisher’s Top 10 High Dividend Stock Picks

Our Methodology

With this context in mind, here is our list of the top 10 dividend stock picks of billionaire Ken Fisher. These were picked from the investment portfolio of Fisher Asset Management at the end of the second quarter of 2021.

The list is compiled according to the value of each holding in the portfolio of Fisher Asset Management. The hedge fund sentiment around each stock was gauged using the data of 873 hedge funds tracked by Insider Monkey.

Why pay attention to hedge fund holdings? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Billionaire Ken Fisher’s Top Dividend Stock Picks

10. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 42

Forward Dividend Yield: 3.25%

Analysts have been bullish on 3M Company (NYSE:MMM) stock since the company posted strong earnings for the second quarter in late July. Advisory Langenberg recently upgraded the stock to Buy from Hold with a price target of $210. Wells Fargo had initiated the stock at Equal Weight with a $179 target on October 7. The company smashed market expectations on earnings per share and revenue in the second quarter by $0.31 and $360 million respectively.

According to 13F filings, Fisher Asset Management owned 5.3 million shares in 3M Company (NYSE:MMM) worth over $1 billion at the end of the second quarter of 2021, representing 0.67% of the portfolio of the fund.

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm AQR Capital Management is a leading shareholder in 3M Company (NYSE:MMM) with 1.1 million shares worth more than $235 million.

Just like The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), 3M Company (NYSE:MMM) is one of the dividend stocks attracting the attention of elite investors.

9. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 108

Forward Dividend Yield: 2.40%

JPMorgan Chase & Co. (NYSE:JPM) is one of the most trusted names in the banking sector and many elite investors have bullish views on the stock. The company has strong fundamentals and recently had stock price targets raised at advisors like BMO Capital, Credit Suisse, Jefferies and Barclays. The company beat market expectations on revenue in the third quarter by $0.74.

According to the latest data, Fisher Asset Management owned 6.9 million shares in JPMorgan Chase & Co. (NYSE:JPM) at the end of June 2021 worth more than $1 billion, representing 0.67% of the portfolio of the fund.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in JPMorgan Chase & Co. (NYSE:JPM) with 6.9 million shares worth more than $1 billion.

In addition to The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), JPMorgan Chase & Co. (NYSE:JPM) is one of the dividend stocks that hedge funds are buying.

In its Q4 2020 investor letter, Bretton Fund, an asset management firm, highlighted a few stocks and JPMorgan Chase & Co. (NYSE:JPM) was one of them. Here is what the fund said:

“After a strong performance in 2019, we wrote this about our bank stocks in last year’s report: “There will be another recession sooner than later, and our banks will see larger loans losses, but we think this is more than priced into the stock, and our banks are well reserved for that eventuality.” Little did we know “sooner” really meant “a few weeks from now.” Despite the economic shock, the banks still have huge capital cushions that can absorb large loan losses. Our remaining bank investments, JPMorgan and Bank of America, increased their reserves significantly at the beginning of the Covid-19 crisis in anticipation of imminent loan defaults, but with the government stimulus and perhaps a more resilient economy than many would have guessed, actual loan losses are up only slightly. They might happen later in 2021, but with an additional stimulus package and the vaccine rolling out, the large-scale losses may not be as bad as most people predicted. The bigger drag on the banks’ earnings power is lower rates, which in our opinion will persist for a long time. Despite this drag, we estimate both JPMorgan and Bank of America will continue to grow revenue and earnings over the next few years, while we believe their stocks remain bargains in a somewhat expensive market. JPMorgan’s earnings per share declined 17% last year, and its stock returned -5.5%. Bank of America’s earnings, which are more sensitive to interest rates, were down 32%, and its stock returned -11.6%.”

8. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 21

Forward Dividend Yield: 9.73%

Mining stocks have soared as iron ore prices skyrocket amid a crackdown against the mining industry in China and increased demand for the metal in the post-pandemic economy. Rio Tinto Group (NYSE:RIO), a mining firm based in the United Kingdom, has benefited from this environment. Exane BNP Paribas analyst Sylvain Brunet recently upgraded the stock to Outperform from Neutral with a price target of GBP5,630.

Securities filings reveal that Fisher Asset Management owned 12.9 million shares in Rio Tinto Group (NYSE:RIO) at the end of the second quarter of 2021 worth over $1 billion, representing 0.68% of the portfolio of the fund.

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in Rio Tinto Group (NYSE: RIO) with 1.8 million shares worth more than $156 million.

Along with The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), Rio Tinto Group (NYSE:RIO) is one of the dividend stocks on the radar of institutional investors.

7. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 105

Forward Dividend Yield: 1.35%

Although most biotech stocks operate in the high-growth domain, UnitedHealth Group Incorporated (NYSE:UNH) is one healthcare firm that has made a name for itself in the value investing universe. The company recently smashed market predictions on earning per share and revenue in the third quarter, raising guidance numbers and prompting price target raises from Evercore ISI and Credit Suisse.

Regulatory filings show that Fisher Asset Management owned more than 2.8 million in UnitedHealth Group Incorporated (NYSE:UNH) at the end of June 2021 worth $1.1 billion, representing 0.71% of the portfolio of the fund.

At the end of the second quarter of 2021, 105 hedge funds in the database of Insider Monkey held stakes worth $13 billion in UnitedHealth Group Incorporated (NYSE:UNH), up from 89 in the preceding quarter worth $12 billion.

The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT) are some of the top dividend stocks to buy now, just like UnitedHealth Group Incorporated (NYSE:UNH).

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and UnitedHealth Group Incorporated (NYSE:UNH) was one of them. Here is what the fund said:

“A good way to conceptualize how we think about portfolio construction is to picture a pyramid. At the bottom of the pyramid are the durable compounding growth companies that form the strong foundation, resilience and consistency for the Strategy. We think these companies should comprise just under half of portfolio assets and feature annual revenue growth rates ranging from two times GDP up to 20% as well as healthy free cash flow generation.

UnitedHealth Group, a name we have owned in the Strategy since 1992, is a good example of a long-term compounder, having grown its revenue base from approximately $600 million to north of $260 billion over that time frame. It remains constantly focused on investing in new growth drivers such as telemedicine and health care analytics. Broadcom and Comcast have delivered similar long-term appreciation through a combination of organic growth, capital deployment into new and adjacent opportunities through merger and acquisition activity as well as returning capital to shareholders through buybacks and dividends.”

6. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 55

Forward Dividend Yield: 1.34%

Oracle Corporation (NYSE:ORCL) is another stock in the growth stock domain that features high on the dividend stock list of Ken Fisher, primarily because of the solid user base of the firm and the reputation of steady earnings growth it has developed over the years. Earlier this month, the company announced that it would be opening 14 cloud regions across the world to support demand for the Oracle Cloud in regions like the Middle East and Latin America.

Fisher Asset Management owned more than 14.8 million shares in Oracle Corporation (NYSE:ORCL) at the end of the second quarter of 2021 worth over $1.1 billion, representing 0.72% of the portfolio of the fund.

At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $2.8 billion in Oracle Corporation (NYSE:ORCL), up from 52 in the preceding quarter worth $2.8 billion.

The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT) are some of the elite dividend stocks to buy now, just like Oracle Corporation (NYSE:ORCL).

Here is what Ariel Investments has to say about Oracle Corporation (NYSE:ORCL) in its Q1 2021 investor letter:

“A temporary factor might be a downturn in the high-yield bond market driving up LBO financing costs for the decline in 2021 GAAP revenue for Oracle Corporation (ORCL) due to a change in accounting methods. In all these examples, stock prices were driven well-below our calculations of intrinsic value. We invested in each company with good outcomes. Later, we will offer instances when this strategy is not successful.”

Click to continue reading and see Billionaire Ken Fisher’s Top 5 Dividend Stock Picks.

Suggested Articles:

Disclosure. None. Billionaire Ken Fisher’s Top 10 Dividend Stock Picks is originally published on Insider Monkey.

Not for distribution to United States newswire services or dissemination in the United States

SUDBURY, ON / ACCESSWIRE / October 18, 2021 / Northern Superior Resources Inc. (the "Company" or "Northern Superior") (TSXV:SUP)(OTCQB:NSUPF) is pleased to announce it has arranged a new, C$3,000,000 non-brokered private placement (the "Offering").

This Offering will consist of a combination of: (i) flow-through common shares of the Company issued to subscribers in Québec ("Québec FT Shares"), at a price of $0.90 per Québec FT Share; and (ii) "charity" flow-through common shares of the Company, issued to subscribers in Québec ("Québec Charity FT Shares" and together with the Québec FT Shares, the "FT Shares"), at a front-end issue price of $1.18 per Québec Charity FT.

The gross proceeds received by the Corporation from the sale of the FT Shares will be used to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the corporation's gold projects in the Province of Québec, notably Lac Surprise and Croteau Est, which will be renounced to subscribers with an effective date no later than December 31, 2021.

Dr. Thomas Morris, CEO states: "Dr. Thomas Morris, CEO states: "With the recent gold discovery at Lac Surprise (see Northern Superior press release August 17, 2021) and the pending results from the reverse circulation drill program (RC) expected by year end on the Croteau Est gold property (see Northern Superior press release August 24, 2021) we feel the application of these funds is essential in advancing both of these significant and highly prospective opportunities for our shareholders."

For further information regarding these exploration properties the reader is referred to the Company's corporate presentation posted on Northern Superior's website at www.nsuperior.com."

All securities sold pursuant to the Offering will be subject to a four-month hold period and will not be offered or registered in the United States. Commissions may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before December 14, 2021 and is subject to customary closing conditions including, but not limited to; the negotiation, execution of subscription agreements with investors and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Northern Superior Resources Inc.

Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Lac Surprise, Croteau Est and Wapistan properties in Québec and its TPK property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and Québec.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.

For further information contact:

Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: info@nsuperior.com
www.nsuperior.com

Forward Looking Statement:

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

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.

SOURCE: Northern Superior Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/668472/Northern-Superior-Resources-Announces-A-C30-Million-Dollar-Non-brokered-Private-Placement

MELBOURNE, Australia, October 18, 2021–(BUSINESS WIRE)–Peter Toth, Group executive, Strategy and Development, has accepted a new position outside of Rio Tinto.

Rio Tinto Chief Executive Jakob Stausholm said "During Peter’s seven years with Rio Tinto, he has played a key role in shaping our corporate strategy, executing our portfolio restructure, and guiding our approach to climate change. We thank him for his contribution and wish him every success for the future."

Peter has stepped down from the Group’s executive committee with immediate effect and his responsibilities will be divided between current executives. He will remain in an advisory role until the end of 2021 and leave the company on 5 April 2022.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018006012/en/

Contacts

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

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

David Outhwaite
M +44 7787 597 493

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

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

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

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

Media Relations, Australia
Jonathan Rose

M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

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

Amar Jambaa
M +61 472 865 948

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

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

riotinto.com

Category: General

MELBOURNE, Australia, October 17, 2021–(BUSINESS WIRE)–Rio Tinto has announced a new three-year partnership with Telethon aimed at improving the health and wellbeing of children in Western Australia.

The partnership, which follows a $4 million donation in 2020, starts with a new $4 million donation delivered over this Telethon weekend and continues with $4 million each year to 2023,to support further research into mental health and juvenile diabetes.

This year, Rio Tinto’s $4 million donation will be distributed between three important health initiatives, The Rio Tinto Diabetes Global Research Centre, Embrace @ Telethon Kids Institute, and The Telethon Trust.

The donation to The Rio Tinto Diabetes Global Research Centre will support critical research into Type One diabetes to improve the lives of those living with the condition, the effects of which last long beyond childhood.

Funding delivered to Embrace @ Telethon Kids Institute over the next three years will enable Embrace to grow ‘big ideas’ and provide seed funding to build the state’s first research centre devoted to the mental health of children and young people.

The partnership will also deliver vital funds to the Telethon Trust, which distributes grants annually to a range of not for profit organisations that help transform the lives of WA children.

Rio Tinto Iron Ore Chief Executive, Simon Trott said, "Rio Tinto is delighted to be partnering with Telethon to help deliver critical research and initiatives that will improve the wellbeing of kids all across the state.

"Telethon is an iconic Western Australian charity event and Rio Tinto and its entire workforce is really proud to support this wonderful cause.

"We’re proud that this donation will help important children’s charities and amazing medical research into diabetes and mental health for our young people."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211017005038/en/

Contacts

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

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

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Jamie Macdonald
M +61 467 725 517

Kate Barcham
M +61 438 990 238

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

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

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

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

riotinto.com

Category: Pilbara

(Bloomberg) — The world’s most crucial metals continued on a breakneck surge, with zinc jumping the most in six years, as energy shortages forced more production cuts, piling pressure on manufacturers and fueling concerns about inflation.

Most Read from Bloomberg

Producers of metals from zinc to aluminum and steel are restricting output as rising energy costs outpace the spike in metal prices, or because of power restrictions. The latest victim was one of the top zinc producers Glencore Plc, with production at its three European plants being cut because of surging power prices.

Zinc spiked as much as 12% on the London Metal Exchange in response, the biggest increase since October 2015. Aluminum — a particularly energy intensive metal — also gained, taking this year’s advance to 62% this year, while copper extended gains beyond $10,000 a ton. Friday’s gains come after the benchmark index of six base metals on the London Metal Exchange rose to an all-time peak on Thursday.

The supply disruptions come at a crucial juncture for the global economy, threatening to add more strain to creaking supply chains and fanning concerns that inflation risks may linger for longer than previously expected.

“Base metals are rallying amid an intensifying energy crisis, and heightened inflation fears are reigniting investor enthusiasm,” said Wenyu Yao, senior commodities strategist at ING Bank. “Fears of inflation could increase demand for metals as there is a perception that they are a hedge against inflation, which is especially true for copper. In the meantime, a retreat in US real rates, along with the broad trade-weighted dollar index over the last couple of days, is also driving momentum.”

The supply curtailments started in China as the country restricted power to energy intensive industries, and have now spread to Europe as the region faces its own power problems spurred by record gas prices. That’s creating new demand worries as record raw material costs threaten manufacturing sectors around the world.

Industrial and manufacturing companies around the world have cut earnings guidance in recent weeks, while major economies from Germany to the U.K. are growing more slowly then expected.

Glencore’s zinc cuts followed an announcement earlier this week that Nyrstar — another big producer — would reduce output at three European smelters by up to 50% due to rising power prices and costs associated with carbon emissions. Meanwhile, Matalco Inc., the largest U.S. producer of aluminum billet, is warning customers it may curtail output and ration deliveries as soon as next year amid a magnesium shortage. Steelmakers, including ArcelorMittal, have also cut production.

Copper, the most important industrial metal, is also soaring. It’s set for the biggest weekly gain since 2016 and is in a widening backwardation as global inventories shrink due to demand recovery and pandemic-driven disruptions. Rio Tinto Group said Friday that the start up of its Oyu Tolgoi project in Mongolia has been delayed by at least three months after Covid-related restrictions hampered progress.

“As most metals are in backwardation and physical demand high, the ingredients are there for materially higher prices, most notably in aluminium and zinc but also permeating into the copper and tin market,” said Kieron Hodgson, an analyst at Panmure Gordon. “It is increasingly likely these prices may persist throughout the fourth quarter before the inevitable return-to-earth occurs.”

Most Read from Bloomberg Businessweek

©2021 Bloomberg L.P.

Rio Tinto said iron production from the Pilbara region of Australia will be lower than previously expected (Newscast/PA) (PA Media)
Rio Tinto said iron production from the Pilbara region of Australia will be lower than previously expected (Newscast/PA) (PA Media)

Mining giant Rio Tinto is being hit by labour shortages in Australia and has been forced to downgrade its production expectations.

The company said that it expects to ship between 320 million and 325 million tonnes of iron ore from its Pilbara operations.

Rio Tinto has 16 iron mines and employs 13,600 people in the area, in Western Australia north of Perth.

These sites were previously expected to ship “at the low end” of 325 million to 340 million tonnes.

The company said that it had been delayed finishing a new mine and doing up an old one because of a lack of staff in the region because Australian state borders are closed.

It has been another difficult quarter operationally and despite improving versus the prior quarter, we recognise the opportunity to raise our performance

Jakob Stausholm, chief executive

“The tight labour market in Western Australia continues to limit our access to labour and we have also experienced delays due to a tight global supply chain,” it said.

Costs at Pilbara are also rising due to freight, diesel and labour rates, as well as the added costs of ensuring staff get vaccinated.

Production in Canada was also hit due to problems getting hold of enough staff and equipment, while labour shortages are also hitting Mongolia

“It has been another difficult quarter operationally and despite improving versus the prior quarter, we recognise the opportunity to raise our performance. We have consequently modestly adjusted our guidance,” said chief executive Jakob Stausholm.

He added: “We are progressing against our four pillars and striving to make Rio Tinto even stronger, notably to become the best operator.

“This will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society, particularly in relation to the drive to net-zero carbon emissions.”

Labour and supply chain shortages have impacted many businesses around the world in recent months, as the economy sprung back into action following Covid.

In the UK, shortages of lorry drivers and a rise in gas prices due to booming international demand have been some of the most obvious impacts.

Shares in Rio Tinto had dipped by 1.9% early on Friday morning, making it the second worst performer on London’s FTSE 100.

MELBOURNE, Australia, October 14, 2021–(BUSINESS WIRE)–Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha.

Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local people to connect with our busines.

The modern space constructed by lead contractor GBSC Yurra in conjunction with other local businesses, features a meeting room named by Ngarluma elders in recognition of its location on Ngarluma country, work stations, kitchen facilities and local artwork.

Rio Tinto hopes the "Marunharri" room, which means "big mob" in Ngarluma language, will become a place of listening, learning and collarboration between Rio Tinto and the Karratha community.

The Hub will be open to the public on weekdays from 9am to 4pm and visitors are encouraged to get to know their local Rio Tinto team. People can visit the Hub to ask questions about employment and training opportunities, local procurement including the ‘Buy Local’ initiative, opportunities for Pilbara Aboriginal businesses and community grant funding.

Rio Tinto Iron Ore chief executive, Simon Trott said "Karratha is home to many of our employees, local suppliers, as well as government, community and Traditional Owner partners and is critical to our operations.

"The new hub builds on the work we have been doing with the City of Karratha to enhance community life through new and improved services throughout the region."

Rio Tinto Iron Ore managing director of Port, Rail and Core Services, Richard Cohen said "It is great to see the Rio Tinto sign in the main street of town. Rio Tinto is proud of its long connection to the Karratha community and I expect the new hub will further strenghten our ties with local business, community groups and any locals who want to connect with our team.

"The opening of this new hub, a place designed specifically for local people to feel welcome and connected to our company, is part of our commitment to being a good local and to help to build thriving communities."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005440/en/

Contacts

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

David Outhwaite
M +44 7787 597 493

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

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

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

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

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

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

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

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

Amar Jambaa
M +61 472 865 948

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

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

riotinto.com

Category: Pilbara

MELBOURNE (Reuters) -Rio Tinto Group on Friday reduced its 2021 iron ore shipments forecast, as a tighter labour market in Western Australia delayed the completion of a new greenfield mine at Gudai-Darri.

"It has been another difficult quarter operationally and … we recognise the opportunity to raise our performance," said chief executive officer Jakob Stausholm.

The miner now expects 2021 Pilbara iron ore shipments at between 320 million tonnes (mt) and 325 mt, down from a previous range of 325 mt to 340 mt.

The downgrade puts Rio on course to lose its spot as the world's biggest iron ore producer to Brazilian rival Vale S.A..

"Another disappointing quarter for Rio Tinto as the company struggles to regain operational momentum," broker RBC said in a research note.

Rio said a tight global supply chain added to its difficulties, while headwinds from China's regulatory tightening could spark further volatility.

Iron ore prices have nearly halved since hitting a record peak in mid-May, with demand hurt by China's steel output curbs and a sharp slowdown in the country's property activity due to a regulatory crackdown. [IRONORE/]

Still, Rio shipped 83.4 mt of the steel-making commodity in the three months ended Sept. 30, 2% higher than the 82.1 mt shipped last year.

However, Pilbara iron ore production was 4% lower, hurt by heritage management, brownfield mine replacement tie-ins and project completion delays.

Rio's destruction of the 46,000 year-old Juukan Gorge rock shelters last year had led to a leadership overhaul of the company and a national inquiry.

Rio also delayed first production for the Oyu Tolgoi copper mine in Mongolia by three months to January 2023. Joint venture partner, Canada's Turquoise Hill Resources, on Thursday estimated additional funding required for the project had ballooned to $3.6 billion.

Delays to development of what will be one of the world's largest copper mines has antagonised the Mongolian government, which owns a 34% stake, and fuelled a funding spat between Rio and Turquoise Hill.

Rio Tinto shares were down 1% in morning trade in a slightly firmer broader market.

(Reporting by Indranil Sarkar and Sameer Manekar in Bengaluru and Melanie Burton in Melbourne; Editing by Devika Syamnath, Karishma Singh and Richard Pullin)

MELBOURNE, Australia, October 14, 2021–(BUSINESS WIRE)–Rio Tinto Chief Executive Jakob Stausholm, said: "The third quarter has demonstrated the resilience of our people in dealing with ongoing COVID-19 challenges. It has been another difficult quarter operationally and despite improving versus the prior quarter, we recognise the opportunity to raise our performance. We have consequently modestly adjusted our guidance.

"We are progressing against our four pillars and striving to make Rio Tinto even stronger, notably to become the best operator. This will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society, particularly in relation to the drive to net-zero carbon emissions."

Production*

Quarter 3
2021

vs Q3
2020

vs Q2
2021

9 months
2021

vs 9 mths
2020

Pilbara iron ore shipments (100% basis) (Mt)

83.4

+2%

+9%

237.5

-2%

Pilbara iron ore production (100% basis) (Mt)

83.3

-4%

+10%

235.6

-5%

Bauxite (Mt)

14.0

-3%

+2%

41.2

-4%

Aluminium (kt)

774

-3%

-5%

2,393

+1%

Mined copper (kt)

125.2

-3%

+8%

361.2

-9%

Titanium dioxide slag (kt)

209

-29%

-30%

787

-7%

IOC iron ore pellets & concentrate (Mt)

2.2

-8%

-20%

7.2

-6%

*Rio Tinto share unless otherwise stated

Q3 operational highlights and other key announcements

  • We continue to prioritise the safety of our people and communities as we learn to live with COVID-19. Our all injury frequency rate (AIFR) of 0.37 has seen an increase versus the third quarter of 2020 (0.35), but an improvement against the prior quarter (0.39).

  • We now expect Pilbara shipments to be 320 to 325 million tonnes (previously at the low end of 325 to 340 million tonnes) following modest delays to completion of the new greenfield mine at Gudai-Darri and the Robe Valley brownfield mine replacement project due to the tight labour market in Western Australia. Iron Ore Company of Canada (IOC) pellets and concentrate full year guidance has been reduced to 9.5 to 10.5 million tonnes (previously 10.5 to 12.0 million tonnes). Refined copper guidance has been reduced to 190 to 210 thousand tonnes (previously 210 to 250 thousand tonnes) due to an incident at the Kennecott smelter in September. We made small adjustments to bauxite and mined copper, and reintroduced guidance for titanium dioxide following resumption of operations at Richards Bay Minerals (RBM) in South Africa.

  • Pilbara shipments in the third quarter were 83.4 million tonnes (100% basis), 9% higher than the prior quarter and 2% higher than the third quarter of 2020. Pilbara iron ore production of 83.3 million tonnes (100% basis) was 4% lower than the third quarter of 2020 due to heritage management, brownfield mine replacement tie-ins and project completion delays. This also resulted in an increase of SP10 production in the third quarter that will continue into the fourth quarter.

  • Bauxite production of 14.0 million tonnes was 3% lower than the third quarter of 2020 due to equipment reliability issues and overruns on planned shutdowns at our Pacific operations.

  • Aluminium production of 0.8 million tonnes was 3% lower than the third quarter of 2020, due to strike action at the Kitimat smelter. On 2 October, we reached a new Collective Labour Agreement for our British Columbia operations, which includes the Kitimat smelter and the Kemano hydropower facility. The smelter will steadily ramp up following a period of reduced production due to industrial activity.

  • Mined copper production of 125.2 thousand tonnes was 3% lower than the third quarter of 2020 due to lower recoveries and throughput at Escondida as a result of the prolonged impact of COVID-19, partly offset by higher recovery and grade at Kennecott in Utah and improved performance and increased mill feed at Oyu Tolgoi.

  • On 22 July, we announced the approval of a $108 million investment to investigate the feasibility of an underground mine below the existing open pit at Kennecott. Infrastructure from previous underground projects will be extended to access the North Rim Skarn orebody, allowing for the development of crosscuts and further drilling of the resource. Potential underground mining would occur concurrently with open pit operations and result in increased copper output.

  • Titanium dioxide slag production of 209 thousand tonnes was 29% lower than the third quarter of 2020. On 24 August, RBM in South Africa resumed operations following stabilisation of the security situation, supported by the national and provincial government, as well as substantive engagement with host communities and their traditional authorities.

  • Production of pellets and concentrate at IOC was 8% lower than the third quarter of 2020 due to labour and equipment availability issues impacting product feed. The annual planned concentrator shutdown was completed in September.

  • At the Oyu Tolgoi underground project in Mongolia, as a result of COVID-19 impacts and outstanding non-technical undercut criteria, first sustainable production will be no earlier than January 2023 (previously October 2022), subject to the timing of commencement of the undercut. The full impact on the cost of the integrated project is subject to further analysis once we have clarity on the timeline around the completion of the undercut criteria and ongoing COVID-19 restrictions.

  • On 27 July, we committed funding of $2.4 billion to the Jadar lithium-borates project in Serbia, subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.

  • On 16 September, we made a statement regarding the Australian Taxation Office (ATO) issuing Rio Tinto Limited with penalty assessments in respect of the amended assessments issued on 2 March 2021 related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. We are confident of our position and have disputed the primary tax and penalty assessments. In accordance with the usual practice, we have paid 50% of the primary tax up-front as part of the objections process.

  • In the third quarter, we entered into three partnerships to progress our work to decarbonise our value chain. These include one with Komatsu to fast-track the development and implementation of zero-emission mining haulage solutions, one with Sumitomo Corporation to study the construction of a hydrogen pilot plant at our Yarwun alumina refinery in Gladstone, Queensland, and one with Caterpillar for the development of zero-emissions autonomous haul trucks for use at one of our Western Australian mining operations.

The full third quarter production results are available here

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014006120/en/

Contacts

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

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

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

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

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

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

riotinto.com

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

LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State

Category: General

The WisdomTree Global exU.S. Quality Dividend Growth ETF (DNL) was launched on 06/16/2006, and is a smart beta exchange traded fund designed to offer broad exposure to the World ETFs category of the market.

What Are Smart Beta ETFs?

Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.

Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.

If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.

Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.

Even though this space provides many choices to investors–think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting–not all have been able to deliver first-rate results.

Fund Sponsor & Index

Managed by Wisdomtree, DNL has amassed assets over $417.98 million, making it one of the larger ETFs in the World ETFs. DNL seeks to match the performance of the WisdomTree Global ex-U.S. Quality Dividend Growth Index before fees and expenses.

The WisdomTree Global ex-U.S. Quality Dividend Growth Index is a fundamentally weighted index that measures the performance of dividend paying stocks with growth characteristics in the developed and emerging markets outside of the United States.

Cost & Other Expenses

Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.

Operating expenses on an annual basis are 0.58% for DNL, making it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 1.89%.

Sector Exposure and Top Holdings

While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.

Looking at individual holdings, Rio Tinto Ltd (RIO) accounts for about 4.59% of total assets, followed by Taiwan Semiconductor Manufacturing Co Ltd and Unilever Plc (ULVR).

The top 10 holdings account for about 36.72% of total assets under management.

Performance and Risk

So far this year, DNL has added about 7.15%, and is up roughly 17.72% in the last one year (as of 10/13/2021). During this past 52-week period, the fund has traded between $32.44 and $43.87.

DNL has a beta of 0.82 and standard deviation of 22.27% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 276 holdings, it effectively diversifies company-specific risk.

Alternatives

WisdomTree Global exU.S. Quality Dividend Growth ETF is a reasonable option for investors seeking to outperform the World ETFs segment of the market. However, there are other ETFs in the space which investors could consider.

IShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation ETF (VIG) tracks NASDAQ US Dividend Achievers Select Index. IShares Core Dividend Growth ETF has $20.03 billion in assets, Vanguard Dividend Appreciation ETF has $61.19 billion. DGRO has an expense ratio of 0.08% and VIG charges 0.06%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the World ETFs.

Bottom Line

To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

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WisdomTree Global exU.S. Quality Dividend Growth ETF (DNL): ETF Research Reports
 
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MELBOURNE, Australia, October 13, 2021–(BUSINESS WIRE)–Rio Tinto is progressing an innovative new technology to deliver low-carbon steel, using sustainable biomass in place of coking coal in the steelmaking process, in a potentially cost-effective option to cut industry carbon emissions.

Over the past decade, Rio Tinto has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave technology to convert iron ore to metallic iron during the steelmaking process. The patent-pending process, one of a number of avenues the company is pursuing to try to lower emissions in the steel value chain, is now being further tested in a small-scale pilot plant.

If this and larger-scale tests are successful, there is the potential over time for this technology to be scaled commercially to process Rio Tinto’s iron ore fines.

Rio Tinto Iron Ore Chief Executive Simon Trott said, "We are encouraged by early testing results of this new process, which could provide a cost-efficient way to produce low-carbon steel from our Pilbara iron ore.

"More than 70 per cent of Rio Tinto’s Scope 3 emissions are generated as customers process our iron ore into steel, which is critical for urbanisation and infrastructure development as the world’s economies decarbonise. So, while it’s still early days and there is a lot more research and other work to do, we are keen to explore further development of this technology."

Rio Tinto’s process uses plant matter known as lignocellulosic biomass, instead of coal, primarily as a chemical reductant. The biomass is blended with iron ore and heated by a combination of gas released by the biomass and high efficiency microwaves that can be powered by renewable energy.

Rio Tinto researchers are working with the multi-disciplinary team in the University of Nottingham’s Microwave Process Engineering Group to further develop the process.

The University’s Head of Department, Chemical and Environmental Engineering, Professor Chris Dodds, said, "It is really exciting to have the opportunity to be part of a great team working on a technology that, if developed to commercial scale, has the potential to have a global impact through decarbonising key parts of the steel production process."

The use of raw biomass in Rio Tinto’s process could also avoid the inefficiencies and associated costs of other biomass-based technologies that first convert the biomass into charcoal or biogas.

Lignocellulosic biomass includes agriculture by-products (i.e. wheat straw, corn stover, barley straw, sugar cane bagasse) and purpose-grown crops, which would be sustainable sources for the process.

Importantly, the process cannot use foods such as sugar or corn, and Rio Tinto would not use biomass sources that support logging of old-growth forests.

Simon Trott said, "We know there are complex issues related to biomass sourcing and use and there is a lot more work to do for this to be a genuinely sustainable solution for steelmaking. We will continue working with others to understand more about these concerns and the availability of sustainable biomass."

If developed further, the technology would be accompanied by a robust and independently accredited certification process for sustainable sources of biomass.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005391/en/

Contacts

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

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

David Outhwaite
M +44 7787 597 493

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

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

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

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

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

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

Amar Jambaa
M +61 472 865 948

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

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

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

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

riotinto.com

Category: General

KELOWNA, BC / ACCESSWIRE / October 12, 2021 / Diamcor Mining Inc. (TSXV:DMI), (OTCQB:DMIFF), (FRA:DC3A), ("Diamcor" or, the "Company") announced today the delivery of 2,521.17 carats of rough diamonds for the Company's first tender and sale of its current quarter ending December 31, 2021. The total carats delivered for this initial tender are in line with Company expectations, and the first since the Company's recent completion of the phase one upgrade objectives at the Company's Krone Endora at Venetia Project (the "Project"). Further refinements, as well as efforts on a larger phase two upgrade, will continue throughout the quarter. The Company remains confident the full potential of these upgrades will be realized and operating costs on a per ton basis will continue to improve due to reductions in plant consumables and increases in operational efficiencies at the Project. The Company expects to complete two additional tenders prior to the end of the current quarter and provide updates on the results in due course over the coming weeks.

LD MICRO – Main Event Conference

The Company also announces that it will be participating in the LD Micro Main Event conference from October 12 – 14th at the Luxe Sunset Bel Air in Los Angeles, CA. The LD Micro Main Event has become the preeminent convention for the most influential people, analysts, and investors in the small-cap world. Diamcor President and CEO, Dean Taylor, will be presenting on Tuesday, October 12, 2021, and hosting one-on-one meetings throughout the conference. Interested parties not attending the conference in person can visit the LD Micro website at ldmicro.com to register and listen to company presentations virtually.

"We look forward to the return of the live, in person LD Micro Main Event Conference after a two year delay associated with COVID-19", stated Mr. Dean Taylor, Diamcor CEO. "The timing of this event provides us with a perfect opportunity to meet with various Company stakeholders and industry participants and discuss the growth objectives underway, our efforts to increase processing volumes, recoveries, and revenues, as well as our plans for exploration efforts on the larger areas of the Project in 2022".

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, the OTCQB International under the symbol DMIFF, and on the Frankfurt Exchange under the symbol DC3A. The Company has a well-established operation in South Africa with a proven history of supplying rough diamonds to the world market. Diamcor has established a long-term strategic alliance with world famous luxury retailer Tiffany & Co. and is now in the final stages of developing the Krone-Endora at Venetia Project co-located with De Beer's flagship Venetia mine.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

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

SOURCE: Diamcor Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/667689/Diamcor-Announces-Initial-Delivery-of-Rough-Diamonds-Following-Completion-of-Phase-One-Upgrades

If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop up? Typically, we'll see the trend of both return on capital employed (ROCE) declining and this usually coincides with a decreasing amount of capital employed. Ultimately this means that the company is earning less per dollar invested and on top of that, it's shrinking its base of capital employed. On that note, looking into Petra Diamonds (LON:PDL), we weren't too upbeat about how things were going.

What is Return On Capital Employed (ROCE)?

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

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

0.025 = US$24m ÷ (US$1.1b – US$118m) (Based on the trailing twelve months to June 2021).

Thus, Petra Diamonds has an ROCE of 2.5%. Ultimately, that's a low return and it under-performs the Metals and Mining industry average of 18%.

View our latest analysis for Petra Diamonds

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In the above chart we have measured Petra Diamonds' prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.

What Does the ROCE Trend For Petra Diamonds Tell Us?

There is reason to be cautious about Petra Diamonds, given the returns are trending downwards. To be more specific, the ROCE was 9.3% five years ago, but since then it has dropped noticeably. Meanwhile, capital employed in the business has stayed roughly the flat over the period. Since returns are falling and the business has the same amount of assets employed, this can suggest it's a mature business that hasn't had much growth in the last five years. So because these trends aren't typically conducive to creating a multi-bagger, we wouldn't hold our breath on Petra Diamonds becoming one if things continue as they have.

In Conclusion…

All in all, the lower returns from the same amount of capital employed aren't exactly signs of a compounding machine. We expect this has contributed to the stock plummeting 98% during the last five years. That being the case, unless the underlying trends revert to a more positive trajectory, we'd consider looking elsewhere.

On a final note, we found 4 warning signs for Petra Diamonds (3 shouldn't be ignored) you should be aware of.

While Petra Diamonds isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

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

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