VANCOUVER, British Columbia, Aug. 17, 2021 (GLOBE NEWSWIRE) — George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports reconnaissance and follow -up sampling on the Aurora West property in the Walker Lane (Mineral County, Nevada) conducted in the fall of 2020 generated several high quality gold targets, which required new staking to secure. Goldcliff holds an option to purchase a 100% interest in the property by paying $US425,000 over four years, subject to a Net Smelter Return Royalty of 2.5%. There are 51claims under option with Ely Gold Royalties Inc which adjoin to the immediate north and west of the main Aurora district held by Hecla Mining Company.

The fall 2020 programme generated several potential new drill targets. The Polaris target, located 1.2 km west of Hecla’s Aurora millsite is currently viewed as the most promising. A one metre chip sample of silicified rhyolite tuff assayed 3.56 ppm gold and 4.2 ppm silver. Four additional rock chip samples in the immediate area assayed between 0.117 and 0.827 ppm gold and contained moderate to high pathfinder element values of arsenic, antimony, mercury and molybdenum indicative of a well mineralised epithermal system. The extent of the Polaris target is unclear at this time due to limited outcrop. Hand excavations are planned to provide more exposures for mapping and sampling to better define specific drill sites.

Some of the new claims staked cover the Twains Hill Section 30 target. This target is located approximately two miles south of the main Aurora district and about a mile southeast of the block of 51 claims. The main geologic feature is a distinctive porphyritic dacite plug or dome, which intrudes the Aurora andesite, host to most of the mined gold-silver veins in the district. A chip sample from a dump boulder of stockwork veined, silicified andesite returned values of 4.23 ppm gold and 11.6 ppm silver. Several other rock chip samples in the area returned values greater than 100 ppb gold with elevated pathfinder elements.

Three mapping and sampling excursions were undertaken late in the fall of 2020. Analytical results were not received until March of 2021. Those results indicated that additional claims should be staked. Weather (snow) conditions and availability of staking contractors delayed staking until very recently. A total of 38 additional claims have been staked and filed on, bringing Goldcliff’s land position in the Aurora district to 89 claims.

Robert Thomas, CPG, is a qualified person as defined by Canadian National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at info@directroyalty.com.

GOLDCLIFF RESOURCE CORPORATION

Per: “George W. Sanders”

George W. Sanders, President

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

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• Listed on NASDAQ under Ticker “REE”

• Continued to Penetrate the EV Industry through Multiple Strategic Alliances with Global Industry Leaders, based on Modular Platforms ‘Powered by REE’

• Working Toward Mass Commercial Production in 2023

• Company to Host Conference Call on August 17 at 8.30 am ET

TEL-AVIV, Israel, Aug. 17, 2021 (GLOBE NEWSWIRE) — REE Automotive (NASDAQ: REE), a leader in e-Mobility, today announced its financial results for the second quarter of 2021. REE is focused on executing milestone deliverables on its signed strategic collaborations spanning market segments including trucks, walk-in vans, Mobility-as-a-Service and autonomous vehicles. The Company closed its merger with 10X Capital Venture Acquisition Corp. on July 22, 2021.

Daniel Barel, REE Automotive Co-Founder and Chief Executive Officer: “Through the first half of 2021 we advanced our position as a go-to partner for bringing EVs to market across most commercial vehicle classes, establishing collaborations with market leaders and securing diverse geographic and segment industry share. With our disruptive technology and business model, we aim to bring the ‘Intel Inside’ approach to the automotive industry so that future EVs will be ‘Powered by REE’.

“We now have five new REEcorner™ designs being prepared for production in our global engineering center in the UK where our headcount is growing rapidly, allowing us to execute on our production readiness timeline. We are also opening our U.S. headquarters and first Integration Center in Texas to be closer to our North American production partners and customers. As we expand our global presence, we look to capitalize on the ever-growing global demand for zero-emission EVs. This is further reinforced by public sector mandates such as the U.S. federal government’s, which announced a target for EVs to make up 50% of all vehicle sales in the country by 2030.”

First Half 2021 Commercial Progress:

REE secured four major collaborations that expanded its industry footprint across segments:

• Hino Motors, a subsidiary of Toyota Motor Corporation and a global leader in heavy & medium duty trucks: Advanced and solidified a pre-existing 2019 cooperation agreement with Hino Motors to a business alliance for the development and marketing of the modular FlatFormer EV platform ‘Powered by REE’. The jointly developed modular EV will be designed to address a large variety of applications and use cases such as cargo, logistics, people movers and utility via an interchangeable service module (top hat).

• Magna International, the world’s largest vehicle contract manufacturer: Secured strategic collaboration agreement with Magna International to jointly develop and market a fully modular EV that is ’Powered by REE’. Together the companies will explore future vehicle development opportunities across a variety of use cases, including Mobility-as-a-Service in the light commercial vehicle market.

• J.B Poindexter’s EAVX: Signed a strategic collaboration with EAVX, an EV-focused business unit of JB Poindexter & Co. (the parent company of Morgan Olson, the leading producer of walk-in van bodies in North America), to develop commercial electric vehicles ‘Powered by REE’ for the North American market. The first joint program prototype will target the fast-growing U.S. walk-in van market via a joint sales team.

• Navya, which is currently active with autonomous vehicles in 23 countries: Expanded footprint in the autonomous vehicle segment with a strategic collaboration agreement with Navya Group to jointly develop a L4 autonomous system ‘Powered by REE’ and driven by Navya.

Technology and Supply Chain Advancements:

• Developed and introduced five next generation REEcorner™ architecture designs to support vehicle classes 1 to 6.

• Received 5 patent grants and filed 26 new patent applications in the first half of 2021.

• Established and staffed REE’s Engineering Center of Excellence in the UK to industrialize REE’s products and manufacturing with state-of-the-art testing and engineering equipment.

• Selected Austin, Texas as the site of REE’s U.S. headquarters and its first CapEx-light Integration Center. The U.S. Integration Center is expected to have annual capacity of 40,000 modular EV platforms to support 2023 mass production targets.

• Signed joint development of a new lightweight and efficient electric propulsion system with American Axle & Manufacturing.

• Grew headcount1 to 184 employees from 84 employees at year-end 2020, primarily in R&D.

Financial Highlights:

• Gross proceeds from the merger were approximately $348 million with transaction costs of approximately $63 million. As of July 22nd, 2021, the Company had approximately $300 million in cash which is sufficient to execute on the Company’s business plan.

• GAAP net loss of $31.2 million in the second quarter of 2021, compared to $12.6 million in the first quarter 2021 and $33.9 million in the second quarter of 2020, primarily related to non-cash stock-based compensation.

• Non-GAAP net loss of $11.1 million in the second quarter of 2021, compared to $8.5 million in the first quarter of 2021 and $2.5 million in the second quarter of 2020.

Outlook

Based on current market conditions and the current regulatory environment, the Company expects to achieve the following:

• Continue to execute on REE’s commercial programs, including the delivery of prototypes for non-public road tests.

• Expand industry penetration through additional partnerships and expansion of variety of EV types ‘Powered by REE’.

• Extend supply chain capacity by executing additional collaborations with leading suppliers.

• Break ground on US headquarters and integration center.

• Reiterating 35% increase in headcount to achieve target of approximately 250 FTEs by year end compared to June 30, 2021.

• Total annual capital and operational expenditures on a non-GAAP basis in 2021 are expected to increase by approximately 25%, or between $15 million and $16 million, as compared to a previous expectation of $64 million. The change is attributed to increased engineering spend to support growth in additional customer programs.

1 Employee headcount includes both internal direct employees and external consultants deployed to REE on an FTE basis.

Webcast and Conference Call Information

The Company will host a conference call at 8:30 a.m. Eastern Time on Tuesday, August 17, 2021, to discuss results and latest developments. Individuals wishing to participate in the webcast can access the event at the Company’s website by visiting https://investors.ree.auto/ or via https://edge.media-server.com/mmc/p/vt9v6s2i. If you wish to participate in the call, please dial 1-877-407-9039 domestically or 1-201-689-8470 internationally. When you call, please enter Confirmation Code 13722316, and provide your name and company affiliation.

The call will be recorded and a replay will be available to interested parties on REE’s Investors website at https://investors.ree.auto/. In addition, a replay service will be available up to 11:59 p.m. EST on Tuesday, August 31, 2021, by dialing +1-844-512-2921 or +1 412-317-6671 internationally and entering the ID number 13722316.

Use of Non-GAAP Financial Measures

The Company has disclosed financial measurements in this press release that present financial information considered to be non-GAAP financial measures. These measurements are not a substitute for GAAP measurements, although the Company's management uses these measurements as an aid in monitoring the Company's on-going financial performance. Non-GAAP net earnings (loss) and non-GAAP earnings (loss) per share, measure earnings and operating income (loss), respectively, excluding non-recurring or unusual items that are considered by management to be outside the Company’s standard operation and excluding certain non-cash items. Adjusted EBITDA is a non-GAAP financial measurement that is considered by management to be useful in comparing the profitability among companies within the industry by reflecting operating results of the Company excluding non-operating factors. There are limitations associated with the use of non-GAAP financial measures, including that such measures may not be comparable to similarly titled measures used by other companies due to potential differences among calculation methodologies. Thus, there can be no assurance whether (i) items excluded from the non-GAAP financial measures will occur in the future or (ii) there will be cash costs associated with items excluded from the non-GAAP financial measures. The Company compensates for these limitations by using these non-GAAP financial measures as supplements to GAAP financial measures and by providing the reconciliations for the non-GAAP financial measures to their most comparable GAAP financial measures. Investors should consider adjusted measures in addition to, and not as a substitute for, or superior to, financial performance measures prepared in accordance with GAAP.

REE AUTOMOTIVE LTD.
Condensed Consolidated Statements of Operations
U.S. dollars in thousands (except share and per share data)
(Unaudited)

 _______

(1) Shares and per share data are presented on a retroactive basis to reflect the stock split following completion of the Merger on July 22, 2021.

(2) Total number of Class A Ordinary Shares outstanding as of August 17, 2021 is approximately 230 million, and Class A Ordinary Shares outstanding on a fully diluted basis assuming all outstanding warrants and issued equity incentive awards are exercised, is approximately 363 million.

REE AUTOMOTIVE LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands (except share and per share data)

_______

(1) Shares and per share data are presented on a retroactive basis to reflect the stock split following completion of the Merger on July 22, 2021.

REE AUTOMOTIVE LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
U.S. dollars in thousands
(Unaudited)

 

Reconciliation of GAAP Financial Metrics to Non-GAAP
U.S. dollars in thousands (except share and per share data)
(Unaudited)

Reconciliation of Net Loss to Adjusted EBITDA

________

(1) Adjusted EBITDA excludes non-GAAP adjustments for share-based compensation.

Reconciliation of GAAP research and development expenses to Non-GAAP research and development expenses; GAAP selling, general, and administrative expenses to Non-GAAP selling, general, and administrative expenses; GAAP net loss to Non-GAAP net loss, and GAAP net loss per Share, basic and diluted to Non-GAAP net loss per Share, basic and diluted

 ____________

1) In June 2021 the Company issued ordinary shares to a Strategic Partner. As a result, the Company recorded share-based compensation expenses in the amount of $15.9 million in selling, general and administrative expenses.

About REE Automotive
REE Automotive (NASDAQ: REE) is an automotive technology leader creating the cornerstone for tomorrow's zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry's flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.

Headquartered in Israel, with subsidiaries in the USA, the UK and Germany. REE has a unique CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with their unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility. For more information visit https://www.ree.auto.

Caution About Forward-Looking Statements
This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plan,” “projects,” “believes,” “views,” “estimates”, “future”, “allow”, “aims”, “strives” “endeavors” and similar expressions are used to identify these forward-looking statements. These statements include, among other things, the Company’s statements about the Company’s strategic and business plans, relationships or outlook, the impact of trends on and interest in its business, intellectual property or product and its future results. These forward-looking statements are based on REE’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: REE’s ability to commercialize its strategic plan; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with REE’s commercial production in 2023 and thereafter; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that the Company is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the ongoing COVID-19 pandemic and any other worldwide health epidemics or outbreaks that may arise; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s final prospectus relating to its business combination filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2021 and in subsequent filings with the SEC. While the list of factors discussed above and the list of factors presented in the final prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.

By Sonali Paul

MELBOURNE (Reuters) -BHP Group has agreed to sell its petroleum business to Woodside Petroleum in a merger to create a top 10 independent oil and gas producer worth A$38.5 billion ($28 billion) with growth assets in Australia and the Americas.

BHP's exit from petroleum, which made up just 5% of its annual earnings, speeds up its exit from fossil fuels amid pressure from environmentally conscious investors. BHP CEO Mike Henry, however, said the company remained committed to metallurgical coal used in steel making.

BHP shareholders will be paid in Woodside stock, giving BHP investors a 48% stake in the merged group.

That effectively values BHP's petroleum arm at about A$18.5 billion ($13 billion) on Tuesday's close, roughly in the middle of analysts' valuations between $10 billion and $17 billion.

For Woodside, the deal is transformational, doubling its output, expanding its footprint in liquefied natural gas, removing the main obstacle to its $12 billion Scarborough gas project and giving it near-term growth options in the Gulf of Mexico.

BHP's assets, including its ageing assets in Australia's Bass Strait where its petroleum business originated, generate cash that will help Woodside fund the Scarborough project as well as developments in the Gulf of Mexico.

"Merging Woodside with BHP's oil and gas business delivers a stronger balance sheet, increased cash flow and enduring financial strength to fund planned developments in the near term and new energy sources into the future," Woodside Chief Executive Meg O'Neill said in a statement.

"We will have more optionality in where we invest and can prioritise the highest return opportunities," she told analysts.

The merger ratio involved no premium for BHP's assets, she said.

The deal was announced at the same time as Woodside appointed O'Neill as chief executive, following a stint as acting CEO. Some analysts had speculated BHP's petroleum chief Geraldine Slattery, would get the job.

"The proposed transaction de-risks and supports Scarborough FID (final investment decision) later this year and enables more flexible capital allocation," O'Neill said.

The companies said the merger would generate annual savings of more than $400 million from 2023, the year after the deal is expected to close.

Woodside plans to put the share issue to a vote in the second quarter of 2022.

A big Woodside investor, Allan Gray Australia, has raised concerns about a deal, especially if it involved a massive share issue.

"It's very unlikely that shareholders would jump at that idea. We certainly wouldn't," Allan Gray Australia Chief Investment Officer Simon Mawhinney told Reuters last week.

O'Neill played down concerns that many BHP investors who don't want fossil fuels or an Australian stock might dump the Woodside shares, saying there is already overlap among investors in the company and it would consider secondary listings in London and New York to help keep "high value" investors on board. Analysts raised concern about the near-term decommissioning liabilities Woodside will be inheriting with BHP's stake in the Bass Strait oil and gas fields. Analysts have estimated those costs at least $2 billion, but O'Neill would not put a figure on it.

"We feel good about how we've valued the decommissioning obligation in setting the merger ratio," she said.

($1 = 1.3732 Australian dollars)

(Reporting by Sonali Paul; editing by David Evans)

NEW YORK, Aug. 17, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Laramide Resources Ltd. (TSX: LAM; OTCQX: LMRXF), company engaged in the exploration and development of uranium assets based in the United States and Australia, has qualified to trade on the OTCQX® Best Market. Laramide Resources Ltd. upgraded to OTCQX from the Pink® market.

Laramide Resources Ltd. begins trading today on OTCQX under the symbol "LMRXF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

Marc Henderson, Laramide President & CEO stated, "With our large U.S. uranium project portfolio, and focus on expanding our exposure and profile with private and institutional U.S. investors, we are pleased to have direct access to this transparent and efficient quotation and trading platform."

Nauth LPC acted as the company's OTCQX sponsor.

About Laramide Resources Ltd.
Laramide is a publicly listed company engaged in the exploration and development of high-quality uranium assets based in the United States and Australia. The Company is listed on the Toronto Stock Exchange (TSX) and the Australian Securities Exchange (ASX), both under the symbol LAM, and on the OTCQX under the symbol "LMRXF". Laramide provides investors exposure to high-quality uranium assets through its portfolio of uranium projects chosen for their production potential, including the advanced Churchrock in-situ recovery (ISR) Project in the United States, Westmoreland in Australia and two development-stage assets, La Sal and La Jara Mesa, in the United States. Laramide also owns a large greenfield exploration opportunity (the Murphy Uranium Project) in the Northern Territory of Australia.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/otc-markets-group-welcomes-laramide-resources-ltd-to-otcqx-301356384.html

SOURCE OTC Markets Group Inc.

Vancouver, British Columbia–(Newsfile Corp. – August 17, 2021) – Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or "the Company") is pleased to announce the acquisition of 3087.7691 hectares of the Teocuitla claims from Minera Teocuitla SA de CV of Hermosillo, Sonora, Mexico.

The Teocuitla claims are located in Opodepe, Sonora, Mexico beside the El Creston Meztli 4 claim in the northwest part of Starcore's 11,000 Ha property. The El Creston deposit is a well-known and defined Molybdenum deposit, but the property has never been explored for precious metals. The Company refers its readers to the "Preliminary Economic Assessment, El Creston Project, Opodepe, Sonora, Mexico" dated December 16, 2010 ("PEA") prepared for Creston Moly Corp. and filed on SEDAR on December 20, 2010. The PEA provides information on El Creston that is historical and the Company cannot guarantee the accuracy of the data presented therein. The reader is cautioned not to place undue reliance on the historical data or its implications that have been derived from third-party sources. The PEA is referenced herein solely for historic context and background.

"We are extremely pleased to have made this acquisition and to be able to look at the El Creston Project in three different ways – one as a moly deposit; another as a property with gold showings; and thirdly, as a project with the potential for copper porphyry at depth," commented Robert Eadie, CEO and a director of the Company. "The property offers exciting exploration potential in the friendly mining state of Sonora, Mexico."

The Company conducted a six-month exploration plan which included more than 1600 samples taken in the outcrops of nine new discovered veins in the Teocuitla claims, with a focus on gold and silver orebodies. The initial results of the exploration program are outlined below:

Table 1: Assay Results of the samples taken
from MEZTLI4 and TEOCUITLA Claims

Table 2: New claims acquired

In addition to the new claims staked, the Company is working on a new geological model of the El Creston deposit, with the primary purpose of assessing the potential for a copper porphyry orebody at depth.

Readers are encouraged to visit our website at www.starcore.com for location photos, diagrams and plans of the geologic models and targets.

Starcore plans to continue exploration work on the newly acquired precious metals claims in addition to further defining the potential of the El Creston deposit. For future clarifications, the Company will define both claims as the Opodepe Project.

Qualified Person

Salvador Garcia, B. Eng., a director of the Company and Chief Operating Officer, is the Company's qualified person on the project as required under NI 43-101and has prepared the technical information contained in this press release.

About Starcore

Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. This base of producing assets is complemented by exploration and development projects throughout North America. The Company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.

ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.

Signed "Robert Eadie"
Robert Eadie, President & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

EVAN EADIE
Investor Relations
Telephone: (604) 602-4935 x 203
Toll Free: 1-866-602-4935
Email: eeadie@starcore.com

The Toronto Stock Exchange has not reviewed, nor does it accept responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93332

Sea Ltd. and Global-e were early risers,, Home Depot dragged on the Dow Jones today, as stock futures swung toward a weak start.

BBL earnings call for the period ending June 30, 2021.

Shares of Canada-based U.S. lithium mining company Standard Lithium (NYSEMKT: SLI) crashed on Tuesday and were down 11% as of 10:05 a.m. EDT. Instead, you can blame bigger lithium miners Albemarle (NYSE: ALB) and Livent (NYSE: LTHM) and the bank that just blasted them. In a report released Monday, Bank of America (NYSE: BAC) reiterated underperform ratings on two of the biggest names in lithium metal, Albemarle and Livent.

It has been a quiet start to the week for oil markets, but bearish sentiment is undeniably building as the Delta variant threatens to damage global demand.

Chart of the Week

– Oil and gas majors have withstood the immediate ramifications of a sternly-worded IPCC report warning of the dire consequences of climate change quite well.

– Energy companies remain the second-most lucrative investment in the S&P 500 pool, having gained 30% over the course of this year, Bloomberg reports.

– At the same time, the era of energy stocks soaring above others in relative terms is over, with energy companies now accounting for a mere 2.5% of the broader index.

– Overall, energy firms in the S&P 500 saw sales more than double in Q2 and revenues in H2 are assumed to exceed those of every other sector.

Market Movers

– Saudi Aramco is reportedly in advanced talks with Indian conglomerate Reliance (NSE:RELIANCE) to acquire a 20% stake in its refining and chemical business, in a monster deal worth some $25 billion.

– BHP Group (NYSE:BHP), the Anglo-Australian energy firm, reported its best annual profit in more than a decade, taking in $17.06 billion in fiscal year 2021. BHP will also shift its main market listing from London to Sydney.

– LG Energy (KRX:003550) signed a deal with Australian Mines Ltd (ASX:AUZ) to supply 100% of projected nickel and cobalt output from the miner's flagship Sconi Project in southeastern Australia.

Tuesday, August 17, 2021

It has been a relatively quiet start to the week for oil markets, with Brent trading just below the $70 per barrel mark and WTI hovering around $67.5 per barrel. Despite the relative lull, short-term sentiment turned more bearish as China’s July readings indicated its weakest refining performance since May 2020, denting hopes of a robust Chinese demand bounce-back coming anytime soon.

OPEC+ Not Willing to Ramp up Output. OPEC+ nations see no utility in ramping up crude production beyond the already agreed gradual roll-back, turning a blind eye on US President Biden’s call to boost output as gasoline prices spiral out of control, Reuters writes.

Woodside to Buy BHP’s Oil Business. UK-Australian firm BHP (NYSE:BHP) is negotiating the divestment of its oil and gas assets with Woodside Petroleum (ASX:WPL) in a deal that could create Australia’s largest producer, surpassing the recent Santos-Oil Search Merger.

Related: How Can Emerging Markets Capitalize On Geothermal Energy’s Potential?

US Treasury to Oppose Development Banks Investments into Fossil Fuels. The latest investment guidance US Treasury Dept guidance states Washington would be against international development banks (World Bank, African Development Bank) investing in fossil fuel projects, except for some downstream gas facilities in poor countries.

Canada to Finally See Pipeline Capacity Expansion. Enbridge (TSE:ENB) intends to commission its Line 3 replacement pipeline project in late September-early October, although it would take months until it reaches full throughput, increasing Canada’s export capacity by 390,000 b/d.

Rosneft Courts Vostok Oil Investors. Russia’s state oil company Rosneft is still wooinginvestors into its Vostok Oil megaproject, having already sold 10% to Trafigura and negotiating on further 5% sales to trading firms Vitol and MME. Vostok Oil will combine Vankor fields with newly purchased Payakha acreage, aiming for 2 mbpd of production by 2030.

EIA Cuts 2022 Us Crude Supply Forecast. The EIA cut its 2022 crude output estimate by a further 100kbpd to 11.76mbpd, indicating that production next year will still remain below pre-pandemic levels on an annual average. This year will see an 11.12mbpd annual output rate.

Europe to See Retail Energy Prices Hike. In a harbinger of things to come amid sky-high gas prices, EDF Energy, a subsidiary of France’s EDF (EPA:EDF), announced it will hike retail energy prices in the UK by 12% starting from October 01.

Germany to Sell Quarter of Lufthansa Stake. Germany’s government will sell a quarter of its 20% stake in Lufthansa (ETR:LHA), one of the world’s largest airlines, in a deal that is supposed to bring some $1 billion to the state coffers.

Shell Declares Force Majeure at Forcados. The Shell-operated (NYSE:RDS.A) Forcados terminal in Nigeria’s Niger Delta declared force majeure over the weekend after a sheen was noticed around the loading buoy. Market sources indicate that the incident might have happened during the loading of the George S vessel.

Saudi NOC Invests into Solar. Saudi Aramco (Tadawul:2222) agreed to invest in the 1.5 GW Sudair solar PV plant, the first project under the Saudi Public Investment Fund’s renewable portfolio. Aramco will own 30% in the $0.9 billion project, already wielding a 25-year power purchase agreement with Saudi Power Procurement.

Aluminum Prices Soar to Record Highs. Triggered by Russia’s half-year aluminum export tax and a strike-induced supply drop at Rio Tinto’s (NYSE:RIO) Kitimat site in Canada, aluminum prices were at all-time highs – US prices have surged to $3400 per metric tonne already, some $400 metric tonne higher than the previous high from 2018 when the US sanctioned Rusal (MCX:RUAL).

Iraq Clinches Drilling Deals. Seeking to rekindle drilling activity in Iraq, the state-owned drilling firm IDC is closing on an array of drilling contracts with international majors. BP (NYSE:BP) got a contract to drill 30 wells at the Rumaila field, whilst the Italian ENI (NYSE:E) is set to sign off to 37 wells for the Zubair oil field.

IKEA Starts Selling Renewable Energy. The world’s largest furniture brand, the privately-owned IKEA, will start selling renewables-sourced electricity on the Swedish market starting this September.

By Tom Kool for Oilprice.com

More Top Reads From Oilprice.com:

• New Energy Companies Post Mixed Earnings Despite Pivot To Renewables

• How Can Emerging Markets Capitalize On Geothermal Energy’s Potential?

• Biden Administration Takes Aim At ‘Soaring’ Gasoline Prices

Read this article on OilPrice.com

TICKER SYMBOLS: TSX:LAM; ASX:LAM; OTCQX:LMRXF

TORONTO, Aug. 17, 2021 /CNW/ – Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that the Company's common shares commenced trading August 17, 2021, on the OTCQX® Best Market under the symbol "LMRXF". Laramide will continue to trade in Canada under its primary listing on the Toronto Stock Exchange under the symbol "LAM", and on the Australian Securities Exchange under the symbol "LAM".

Marc Henderson, Laramide President & CEO stated, "With our large U.S. uranium project portfolio, and focus on expanding our exposure and profile with private and institutional U.S. investors, we are pleased to have direct access to this transparent and efficient quotation and trading platform."

U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

Laramide is also pleased to be included in the Solactive Global Uranium & Nuclear Components Total Return Index (the "Index") composition for the Global X Uranium ETF, as part of ordinary rebalance in the Index, with implementation effective August 2, 2021. The ordinary rebalance of the Index occurs semi-annually.

With net assets of approximately US$650 million, the Global X Uranium ETF is the largest Exchange Traded Fund ("ETF") in the uranium sector and the Index tracks the price movements in shares of companies involved in uranium and the production of nuclear components.

Laramide Resources is additionally a part of the index composition for the North Shore Global Uranium Mining ETF and the Horizons Global Uranium Index ETF.

To learn more about Laramide, please visit the Company's website at www.laramide.com.

About Laramide Resources:

Laramide is a Canadian-based company with diversified uranium assets strategically positioned in the United States and Australia that have been chosen for their low-cost production potential. Laramide's Churchrock and Crownpoint properties form a leading In-Situ Recovery (ISR) division that benefits from significant mineral resources and near-term development potential. Additional U.S. assets include La Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley district of Utah. The Company's Australian advanced stage Westmoreland is one of the largest uranium projects currently held by a junior mining company. Laramide is listed on the TSX: LAM and ASX: LAM and in the United States on the OTCQX: LMRXF.

Forward-looking Statements and Cautionary Language

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.

Actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits may be derived therefrom and accordingly, readers are cautioned not to place undue reliance on the forward-looking information.

SOURCE Laramide Resources Ltd.

View original content: http://www.newswire.ca/en/releases/archive/August2021/17/c8409.html

BENSALEM, Pa., Aug. 16, 2021 (GLOBE NEWSWIRE) —

Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

Coinbase Global, Inc. (NASDAQ: COIN)
IPO: April 14, 2021
Lead Plaintiff Deadline: September 20, 2021

The Registration Statement was materially false and misleading and omitted to state material adverse facts. Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Coinbase required a sizeable cash injection; (2) Coinbase’s platform was susceptible to service-level disruptions, which were increasingly likely to occur as the Company scaled its services to a larger user base; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

CorMedix Inc. (NASDAQ: CRMD)
Class Period: July 8, 2020 and May 13, 2021
Lead Plaintiff Deadline: September 20, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors the following: (1) deficiencies existed with respect to DefenCath's manufacturing process and/or at the facility responsible for manufacturing DefenCath; (2) in light of the foregoing deficiencies, the FDA was unlikely to approve the DefenCath NDA for CRBSIs in its present form; (3) Defendants had downplayed the true scope of the deficiencies with DefenCath's manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited (NASDAQ: PLL,PLLL)
Class Period: March 16, 2018 and July 19, 2021
Lead Plaintiff Deadline: September 21, 2021

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have strong local government support; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

AdaptHealth Corp. (NASDAQ: AHCO)
Class Period: November 11, 2019 and July 16, 2021
Lead Plaintiff Deadline: September 27, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) AdaptHealth had misrepresented its organic growth trajectory by retroactively inflating past organic growth numbers without disclosing the changes, in violation of SEC regulations; (2) accordingly, the Company had materially overstated its financial prospects; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Have you been paying attention to shares of Albertsons Companies (ACI)? Shares have been on the move with the stock up 50.1% over the past month. The stock hit a new 52-week high of $30.42 in the previous session. Albertsons Companies has gained 69.8% since the start of the year compared to the 6.9% move for the Zacks Consumer Staples sector and the 8.2% return for the Zacks Consumer Products – Staples industry.

What's Driving the Outperformance?

The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on July 29, 2021, Albertsons Companies, Inc. reported EPS of $0.89 versus consensus estimate of $0.68 while it beat the consensus revenue estimate by 2.78%.

For the current fiscal year, Albertsons Companies, Inc. is expected to post earnings of $2.27 per share on $68.13 billion in revenues. This represents a -29.94% change in EPS on a -2.24% change in revenues. For the next fiscal year, the company is expected to earn $2.2 per share on $68.9 billion in revenues. This represents a year-over-year change of -2.94% and 1.13%, respectively.

Valuation Metrics

Albertsons Companies, Inc. may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.

On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.

Albertsons Companies, Inc. has a Value Score of A. The stock's Growth and Momentum Scores are A and C, respectively, giving the company a VGM Score of A.

In terms of its value breakdown, the stock currently trades at 13.1X current fiscal year EPS estimates. On a trailing cash flow basis, the stock currently trades at 4.1X versus its peer group's average of 13.1X. Additionally, the stock has a PEG ratio of 1.1. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.

Zacks Rank

We also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, Albertsons Companies, Inc. currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Albertsons Companies, Inc. meets the list of requirements. Thus, it seems as though Albertsons Companies, Inc. shares could still be poised for more gains ahead.

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(Adds details on talks, background, Woodside statement)

Aug 16 (Reuters) – BHP Group Ltd is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday.

The world's biggest miner BHP also said it had begun a strategic review of the business — made up of assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria — that analysts value at between $10 billion and $17 billion.

BHP has been facing calls to detail how and when it will exit fossil fuels, with activist investor Market Forces filing a resolution on the topic this week for annual meetings in October and November.

The miner was widely expected to deliver a verdict on the future of the petroleum business ahead of its results this week.

"While discussions between the parties are currently progressing, no agreement has been reached on any such transaction," BHP said, adding that it was evaluating a number of options.

In a separate statement, Woodside confirmed talks with BHP over the deal and said discussions were ongoing. (Reporting by Shashwat Awasthi in Bengaluru; editing by Uttaresh.V)

• Completed 5 holes on the historic High-Grade Zone.

• Completed 2 holes on the High-Grade extension where 949 g/t silver was sampled on surface.

• Currently drilling the Maybee Zone where 3,444 g/t silver was sampled on surface.

Vancouver, British Columbia–(Newsfile Corp. – August 16, 2021) – Mountain Boy Minerals Ltd (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9UA) ("Mountain Boy" or the "Company") announces that drilling is proceeding on its flagship American Creek property, with 7 holes completed from 2 drill pads and the drill is now on the third pad.

The American Creek Project is centered on the past-producing Mountain Boy silver mine, located 20 kilometres north of Stewart in BC's Golden Triangle.

Five holes have been completed on the High-Grade zone and two holes on the High-Grade extension. The drill is now on the Maybee Zone. Core samples have been shipped to the lab from the High-Grade and High-Grade extension pads and assays are pending.

Results from surface sampling earlier this season have now been received with highlights in the table below. The recent work included mapping and sampling along the cliffs north of the old mine, an area that had not previously been examined due to the difficult access. Geologists skilled in rock climbing, traced the structure hosting the High-Grade mineralization approximately 400 meters to the north, identifying an area now referred to as the High-Grade Extension where an initial two holes were completed.

Geological work is continuing, focused on the area between the High-Grade Zone and the Maybee zone, a 2-kilometer-long corridor within the 33 square kilometer property. Multiple veins in that area remain under-explored. The intent of the current program is to improve the geological context with the intent of identifying further drill targets.

Mountain Boy CEO Lawrence Roulston commented: "Silver and base metal mineralization has been identified over multiple kilometers and includes some exceptional grades. We are working systematically toward an understanding of this extensive and robust mineralizing system which we firmly believe has the potential to host the kind of deposit for which the Golden Triangle is renowned."

About Mountain Boy Minerals

Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.

1. The flagship American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.

2. On the BA property, 178 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Work this year is aimed at extending that zone with drilling due to begin in August.

3. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.

4. On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 meters long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).

5. Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc. A property wide Skytem survey is set to begin by the end of August.

6. The Telegraph project, acquired in May 2021, has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle. Exploration this season has been organized in two phases. Phase one is now complete and phase two is set to begin in September.

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

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

This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93209

Investors looking for stocks in the Mining – Miscellaneous sector might want to consider either BHP (BHP) or Wheaton Precious Metals Corp. (WPM). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Right now, BHP is sporting a Zacks Rank of #2 (Buy), while Wheaton Precious Metals Corp. has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that BHP is likely seeing its earnings outlook improve to a greater extent. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

BHP currently has a forward P/E ratio of 8.04, while WPM has a forward P/E of 29.27. We also note that BHP has a PEG ratio of 1.94. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. WPM currently has a PEG ratio of 5.85.

Another notable valuation metric for BHP is its P/B ratio of 2.15. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, WPM has a P/B of 3.43.

These metrics, and several others, help BHP earn a Value grade of B, while WPM has been given a Value grade of D.

BHP sticks out from WPM in both our Zacks Rank and Style Scores models, so value investors will likely feel that BHP is the better option right now.

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BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report
 
Wheaton Precious Metals Corp. (WPM) : Free Stock Analysis Report
 
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Zacks Investment Research

Vancouver, British Columbia–(Newsfile Corp. – August 16, 2021) – Comstock Metals Ltd. (TSXV: CSL) ("Comstock" or the "Company") is pleased to announce the appointment of Derek Knight as a director of the Company.

Derek Knight is a two-decade veteran in project management with a proven track record of delivering efficiency optimization and cost benefit. Currently serving as Vice President, Corporate Development at Snow Lake Resources, a significant lithium mining company in Northern Manitoba, Derek is leading the initiative to pursue a NASDAQ listing. Prior to his current role, Derek acted in the capacity of CEO and was responsible for several funding rounds in addition to corporate restructuring and resource expansion. Derek also served as COO at Progressive Planet (PLAN), a TSXV listed entity where he was responsible for the asset management of a multi resource strategy company. During the course of his tenure, Derek managed a cost rationalization project that involved asset disposal and the execution and commissioning of a successful processing facility.

About Comstock Metals Ltd.

Comstock Metals is advancing the Preview SW Gold Project, a resource-stage gold project in the La Ronge district of Saskatchewan. The Preview SW deposit hosts indicated mineral resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and inferred mineral resources containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 g/t Au), both based on a 0.50 g/t Au cut-off grade¹. During 2017 and 2018, Comstock completed diamond drilling campaigns targeting the Preview North zone and the Preview SW deposit comprising 24 holes totaling 4,700 metres. Several additional, relatively untested targets remain on the Property, including the A, B, C, and Clearwater zones (Map 2).

Map 2. Preview SW Property Map Showing Drilled Gold Zones

To view an enhanced version of Map 2, please visit:
https://orders.newsfilecorp.com/files/7078/93287_b97fb778a44379a1_001full.jpg

For further details, see the Company's website at www.comstock-metals.com

Qualified Persons

The scientific and technical information contained in this news release as it relates to the Preview SW Gold Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.

Forward-Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

For more information about Comstock Metals Ltd., please refer to Comstock Metals' website at www.comstock-metals.com or contact:

Steven H. Goldman
President, CEO and Director
COMSTOCK METALS LTD.
Cell Phone: (416) 917-1533
Email: s.goldman@goldmanhine.com

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

____________________

¹ The Company has filed on SEDAR the 43-101 Technical Report, Preview SW Gold Project, La Ronge, Saskatchewan, prepared for Comstock Metals Ltd. by Ronald G. Simpson, P.Geo., Geosim Services Inc. Effective date September 27, 2016.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93287

Oatly CEO Toni Petersson said there is light at the end of the tunnel with respect to the oat milk shortage that has existed during the pandemic due to significantly more at-home consumption of packaged foods. 

"No," Petersson responded when asked by Yahoo Finance if the shortage would continue into 2022. "It's going to improve. It has improved since March. It's going to continue to increase [product availability] every single month here."

To help improve demand, Oatly said it will increase production capacity at its Ogden, Utah, facility and in facilities in Asia and Europe. The company expects to increase production by 200% by the end of 2022, compared to 2020. 

Persistent supply constraints weighed on Oatly's second quarter performance. Sales rose 53.3% year-over-year. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss came in at $31.9 million compared to a loss of $1.2 million a year ago. 

Here is how Oatly performed compared to Wall Street analyst estimates for the second quarter:

• Net Sales: $146.2 million vs. $147 million

• Loss per Share: $0.11 vs. $0.10

The company reiterated its long-term targets for a gross margin of 40% and EBITDA margin approaching 20%.

Oatly shares rose 1% to $17 in Monday trading, putting the stock price in line with the IPO's pricing in mid-May. The stock had reached a high of $28 in mid-June amid optimism on the outlook for oat milk demand and Oatly's leading market share position in the market. But shares came under pressure in mid-July following an attack on the company's financial reporting by short-seller Spruce Point. 

Oatly was quick to rebuff Spruce Point's claims. 

Jefferies analyst Rob Dickerson said he came away with a positive take on the situation after a meeting with management post-earnings.

"In our follow-up call with mgmt. today, we were told that nothing in the recent short report could be substantiated by an internal and external analysis conducted by Oatly and that’s where the OTLY is going to leave it. While we understand points made in the report around competitive dynamics, we still find it too early to call long-term share pressure issues given the lack of real-time data across geographies and channels and given the company is supply constrained. We will continue to monitor the situation, but the expectation now is that we should start to see share positioning improvements into YE in the Americas as incremental capacity comes online and Oatly is able to better expand distribution, even with pre-existing customers, Dickerson said in a note to clients.

When asked by Yahoo Finance if he has a message for investors following the short-seller report, Petersson said Oatly remains a growth company. 

"There are a lot of things we want to say. But we are positioned to take a global leading role in driving the plant-based revolution forward. We haven't even started to scratch the surface yet and the runway is massive," Petersson said.

To that point, Oatly has recently begun selling soft-serve ice cream. The surface is being scratch, so it seems.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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By Dhirendra Tripathi

Investing.com – BHP Billiton (NYSE:BBL) ADR traded 1.8% lower in Monday’s premarket on concerns that the company may not make the clean break with fossil fuels that many investors had hoped for.

BHP said overnight it's in talks with Woodside Petroleum (OTC:WOPEY) over a potential sale. One of the possibilities under consideration would include an all-share transaction in which BHP would distribute Woodside shares to its investors – an alternative that few BHP investors would prefer.

Reports peg the value of the deal at $15 billion. Under the likely terms, Woodside will issue its own equity to BHP shareholders as consideration for buying the mining giant’s petroleum business.

Such a deal would leave BHP shareholders with shares of a pure fossil fuel player, shares that they would be forced to sell immediately due to their investment mandates. Shareholders are usually happier with a cash-deal that would help the company pay them dividends or fund a buyback program.

BHP has got rid of many of its polluting assets and the sale of the petroleum business would bring it close to an exit from all such sectors.

A report last week by a UN panel warned of dire consequences as it said the climate is getting warmer at a pace faster than estimated earlier.

For Woodside, an acquisition of BHP's oil and gas assets would roughly double its annual underlying earnings to around $8 billion. For BHP, a petroleum exit would strip out just 5% of underlying earnings, according to Reuters

Woodside share closed 4.5% lower in today’s trading.

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One company is seeking to turn grocery shopping from an errand to an activity.

Food and drug retailer Albertsons Cos. (NYSE: ACI) announced on Monday an overhaul of its digital segment, unveiling three new offerings to its suite of digital services, including FreshPass, a subscription service that's essentially Amazon Prime, exclusively for groceries. For a little under $100 a year or $12.99 a month, Albertsons customers can take advantage of free delivery on orders of $30 or more, free two-hour grocery delivery, and other rewards.

Alongside FreshPass, Albertsons rolled out its free Deals & Delivery app, which will allow customers to shop, save and redeem rewards online or in-store, complete with a digital wallet and app coupon integration. The company is also premiering its Albertsons for U loyalty program, which offers perks from personalized deals to special birthday items.

"We have been working hard to revolutionize Albertsons Companies' digital offerings and enhance all aspects of the food experience and journey," said Chris Rupp, EVP and chief customer and digital officer. "We have been in lock-step with our customers, and today's launch of our new Deals & Delivery app, our ‘Albertsons for U' loyalty program, and FreshPass subscription service exemplifies our commitment to innovation and customer service, meeting shoppers where they want to shop whether that be in-store, curbside, or at home."

Related: Read: Delivery-only concepts are the new food frontier Read: Uber rolling out same-day, on-demand grocery delivery in 400 cities

While all three offerings should improve Albertsons customers' experiences, it's the new subscription service, FreshPass, that's particularly eye-catching. Albertsons seems to be taking a page from Amazon's (NASDAQ: AMZN) playbook, bringing delivery-as-a-subscription to its more specialized corner of the market, and that model could help it and other specialty retailers go direct-to-consumer to keep pace with the delivery titans.

FreshPass offers a variety of subscriber-exclusive perks, including $5 monthly promotional credit through December, savings on O Organics and Open Nature products, monthly Starbucks perks, and a VIP phone line. Rewards never expire, and the company's website touts potential user savings of nearly $400 per year.

Albertsons has been an innovative player in the grocery delivery space for a while, having inked deals with Instacart, DoorDash (NYSE: DASH), and Uber (NYSE: UBER) over the past few years. Those companies have been partnering with Albertsons' banner stores — including Safeway, Jewel-Osco, and ACME — to provide third-party grocery delivery services from participating stores. The company also ran a pilot project this year that used robots to deliver out of one of its Safeway stores.

Other companies have also started grocery subscription services to try to emulate Amazon's success. Walmart Grocery (NYSE: WMT) launched its Delivery Unlimited program in 2019, offering free delivery and shipping for $12.95 a month or $98 a year. Target (NYSE: TGT) employs a similar model, offering a membership for same-day delivery in collaboration with Shipt.

Prime subscriptions have been a cash cow for Amazon, acting as a primary source of the delivery giant's revenues in North America for years. By harnessing the Prime model, Albertsons and other retailers hope to meet consumers where they are and keep them coming back.

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Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Hecla Mining Company (NYSE:HL) is about to trade ex-dividend in the next 3 days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Thus, you can purchase Hecla Mining's shares before the 20th of August in order to receive the dividend, which the company will pay on the 3rd of September.

The company's upcoming dividend is US$0.011 a share, following on from the last 12 months, when the company distributed a total of US$0.045 per share to shareholders. Calculating the last year's worth of payments shows that Hecla Mining has a trailing yield of 0.7% on the current share price of $6.13. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! As a result, readers should always check whether Hecla Mining has been able to grow its dividends, or if the dividend might be cut.

See our latest analysis for Hecla Mining

If a company pays out more in dividends than it earned, then the dividend might become unsustainable – hardly an ideal situation. Fortunately Hecla Mining's payout ratio is modest, at just 48% of profit. A useful secondary check can be to evaluate whether Hecla Mining generated enough free cash flow to afford its dividend. It paid out 12% of its free cash flow as dividends last year, which is conservatively low.

It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.

Click here to see the company's payout ratio, plus analyst estimates of its future dividends.

Have Earnings And Dividends Been Growing?

Businesses with shrinking earnings are tricky from a dividend perspective. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. Hecla Mining's earnings per share have fallen at approximately 22% a year over the previous five years. When earnings per share fall, the maximum amount of dividends that can be paid also falls.

Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Hecla Mining has seen its dividend decline 5.6% per annum on average over the past 10 years, which is not great to see. While it's not great that earnings and dividends per share have fallen in recent years, we're encouraged by the fact that management has trimmed the dividend rather than risk over-committing the company in a risky attempt to maintain yields to shareholders.

To Sum It Up

Is Hecla Mining worth buying for its dividend? Earnings per share are down meaningfully, although at least the company is paying out a low and conservative percentage of both its earnings and cash flow. It's definitely not great to see earnings falling, but at least there may be some buffer before the dividend needs to be cut. In summary, it's hard to get excited about Hecla Mining from a dividend perspective.

In light of that, while Hecla Mining has an appealing dividend, it's worth knowing the risks involved with this stock. In terms of investment risks, we've identified 3 warning signs with Hecla Mining and understanding them should be part of your investment process.

A common investment mistake is buying the first interesting stock you see. Here you can find a list of promising dividend stocks with a greater than 2% yield and an upcoming dividend.

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.

Lithium prices have been red hot, sparking big rallies in Albemarle Corporation (NYSE: ALB) and Livent Corp (NYSE: LTHM) in the past year.

Prices have started to stabilize as of late and one analyst said Monday the longer-term outlook for the lithium market makes it difficult to justify the valuations of these two lithium producers.

The Analyst: On Monday, Bank of America analyst Matthew DeYoe reiterated his Underperform rating for Albemarle and raised his price target from $140 to $208. He also reiterated an Underperform rating for Livent and raised his price target from $18 to $19.

Related Link: Carson Block Goes In On Musk's 'Bulls**t,' Why Tesla Shorts Were 'Right And Wrong The Whole Time'

The Thesis: Despite the target hikes, DeYoe said both lithium stocks are priced for perfection even though a large uptick in global supply is coming at some point to alleviate the current undersupplied market. For now, he sees “significant hype” in lithium stock valuations and said the two companies will likely be unable to deliver on the market’s high long-term growth expectations.

“We find equity values bake in substantial premiums to what companies can achieve based on their footprints and market growth,” DeYoe said.

Lithium carbonate prices have already started to level off after social distancing drove work-from-home demand for battery-powered devices such as laptops and power tools in 2020.

DeYoe said Spodumene production is still below 2019 levels even though demand is higher. The period of lower prices in 2019 and early 2020 drove multiple bankruptcies in the market that resulted in lower production capacity.

Looking ahead, DeYoe said he expects lithium supply to remain tight, but investors can expect 2022 production to roughly double 2021 production.

Benzinga’s Take: As with electric vehicle stocks, investors fully understand the huge long-term potential for future lithium demand. But even if there is a massive long-term demand coming for lithium in future decades, much of that demand may already be priced into Albemarle and Livent’s stocks given their steep valuations.

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TORONTO, August 16, 2021–(BUSINESS WIRE)–Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") announces the filing of its financial results for the second quarter ended June 30, 2021. All amounts, unless indicated, are reported in US dollars

SECOND QUARTER HIGHLIGHTS

• As at June 30, 2021, Aquila had cash of $0.9 million and negative working capital of $2.1 million (current assets less current liabilities excluding a deposit received on a non-binding letter of intent discussed below). This compared to cash of $1.8 million and negative working capital of $0.8 million at December 31, 2020. The decrease in working capital is primarily due to permitting and legal activities at its Back Forty Project. The Company is actively evaluating financing and strategic alternatives and continues to take measures to preserve liquidity including cutting discretionary spending, reducing salaries for management, and working with service providers to manage and defer spend wherever possible.

• On April 28, 2021, the Michigan State Senate unanimously approved resolution SR0016: A resolution to express support for mining and the mining industry and encourage the Governor, state agencies, local governments, members of the public, and labor organizations to support mining by taking certain actions (the "Resolution"). The Resolution passed with bipartisan support.

• On June 1, 2021, Aquila announced that it had entered into a non-binding letter of intent (the "LOI") to sell its interest in the Bend and Reef exploration properties located in Wisconsin, USA to a private company ("Newco") (the "Transaction"). Subject to necessary approvals, Newco intends to list on the TSX Venture Exchange concurrent with the closing of the Transaction. Total consideration of C$7 million payable to Aquila will consist of cash consideration of C$3 million, of which C$1 million has been advanced as a deposit, and shares in Newco with an estimated value on completion of the public offering of C$4 million. Aquila and Newco are working towards the execution of definitive agreements.

• On May 26, 2021, Aquila announced the results of its Annual Meeting of Shareholders and confirmed that the six nominees listed in the management information circular were elected as directors of Aquila.

$2.4M STREAM DEPOSIT

Aquila is also pleased to announce that a subsidiary of Osisko Gold Royalties Ltd ("OGR") has agreed to immediately release $2.4 million (the "Fourth Deposit") to the Company under the Amended and Restated Gold Purchase Agreement dated as of March 10, 2021 (the "Gold Stream"). The Fourth Deposit will be used for the continued advancement of the Back Forty Project Optimized Feasibility Study.

Guy Le Bel, President & CEO, commented, "This agreement demonstrates OGR’s strong support for the Back Forty Project and enables Aquila to continue advancing the optimized Feasibility Study. I am pleased with the progress our team is making on the Feasibility Study, which will demonstrate reduced environmental impact and a longer mine life for the benefit of all stakeholders. In parallel, we are advancing the transaction to monetize our non-core assets in Wisconsin. At the same time, our team is actively evaluating additional strategic and financing alternatives to realize value for shareholders."

Under the Gold Stream, the Fourth Deposit was to be released once Aquila completed an equity financing of not less than $6 million (the "Equity Financing Condition"). Pursuant to an agreement dated August 15, 2021, the Equity Financing Condition has been deferred and must now be satisfied as a condition to the release of the fifth deposit of $5 million (the "Fifth Deposit"). The other conditions for the release of the Fifth Deposit remain the same, being the completion of the Back Forty Feasibility Study and the successful resolution of the permitting process with respect to permits required for the development or operation of the Back Forty Project. The final deposit of $25 million continues to be payable pro rata with drawdowns under a senior construction facility for the Back Forty Project. In connection with the waiver of the Equity Financing Condition, Aquila has granted OGR the right to nominate an individual to the Company’s Board of Directors. OGR has not yet exercised this right.

OUTLOOK

• The Company will continue to advance its Back Forty Project in Michigan, where the main objectives are completing an optimized Feasibility Study (the "Feasibility Study") and securing the remaining permits required for construction and operations. The Feasibility Study will incorporate both the open pit and underground mine plans and will reflect Aquila’s commitment to sustainability and responsible mining employing industry best practices.

• Aquila intends for the Feasibility Study to integrate feedback from the Michigan Department of Environment, Great Lakes & Energy ("EGLE") and the local community since the original permits were issued. By incorporating the underground mine plan and modifying the Project footprint, the Company expects to demonstrate substantially reduced surface impact, including wetlands impact, and a longer mine life for the benefit of all stakeholders.

• The Company will continue to work with EGLE to finalize the Back Forty groundwater model. Aquila is pleased with the significant progress made in this regard and continues to collect the required site-specific data.

• Following the completion of the Feasibility Study, Aquila will seek to permit the optimized Project design.

• The Company will continue to advance the Transaction to sell its Bend and Reef properties in Wisconsin.

• The Company will continue its efforts to secure additional financing and, in parallel, will evaluate various strategic alternatives to maximize shareholder value. As the Company is in active discussions with several parties, the Board of Directors has formed a Special Committee tasked with examining the strategic alternatives for the Company which include evaluating and implementing financing alternatives, considering possible joint venture and other strategic transactions, and assessing potential merger and acquisition proposals.

APPOINTMENT OF GUY LE BEL TO BOARD OF DIRECTORS

Aquila also announces today that Guy Le Bel, who has been President and CEO of the Company since February 1, 2021, has been appointed to the Board of Directors, effective immediately.

SELECTED FINANCIAL INFORMATION

The following table provides selected financial information that should be read in conjunction with the financial statements of the Company for the quarter ended June 30, 2021:

ABOUT AQUILA

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development‐stage company focused on high grade polymetallic projects in the Upper Midwest, USA. Aquila’s experienced management team is currently advancing pre-construction activities for its flagship 100%‐owned gold and zinc‐rich Back Forty Project in Michigan.

The Back Forty Project is a volcanogenic massive sulfide deposit with open pit and underground potential located along the mineral‐rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Back Forty contains approximately 1.1 million ounces of gold and 1.2 billion pounds of zinc in the Measured & Indicated Mineral Resource classifications, with additional exploration upside. An optimized Feasibility Study for the Project is underway.

Aquila has two other exploration projects: Reef Gold Project located in Marathon County, Wisconsin and the Bend Project located in Taylor County, Wisconsin. Reef is a gold-copper property and Bend is a volcanogenic massive sulfide occurrence containing copper and gold.

Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.

Cautionary statement regarding forward-looking information

This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In particular, this news release contains forward-looking information pertaining to the following: the ability of the Company to close the Transaction on the terms outlined in the LOI or at all, the ability of Newco to list on the TSX-V, plans related to the Back Forty Project optimized feasibility study and permitting, the ability of the Company to complete a financing or strategic transaction, the ability of the Company to satisfy subsequent drawdown conditions under the Gold Stream, and other development plans and objectives. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: risks with respect to the COVID-19 pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210816005168/en/

Contacts

Guy Le Bel, President & CEO, Director
Tel: 450.582.6789
glebel@aquilaresources.com

David Carew, VP Corporate Development & IR
Tel: 647.943.5677
dcarew@aquilaresources.com

The world's largest retailer sees its stock come alive again, finally.

Walmart's stock (WMT) has widely lagged the S&P 500 (^GSPC) this year (3.8% gain for Walmart vs. 18% gain for the S&P 500) as investors fret about slowing sales and earnings growth after a big year of consumers stocking up during the height of the pandemic in 2020. Inflation in labor and transportation (as mentioned by vendors to Walmart in the past few weeks such as Clorox, Proctor & Gamble and Kimberly-Clark) and what that means to Walmart's thin profit margins hasn't aided sentiment on the stock in the market, either. 

But shares of Walmart have interestingly tacked on nearly 6% in the last month (S&P 500 +2%) — mostly fueled in the past two weeks — ahead of the retailer's closely watched second quarter earnings report on Tuesday. J.P. Morgan analyst Christopher Horvers explains the move higher in Walmart's stock makes sense, and is a bit overdue. 

"The general sentiment on the stock [is] much more positive over the past month given (1) its dramatic underperformance to retail and staples over the past 12-18 months; (2) July trend improvement on easier compares/back-to-school and the child tax credit (similar to Target/others); and (3) the general shift toward more defensive stocks," Horvers points out in an earnings preview note to clients. 

Whether Walmart's stock sustains its recent gains is obviously dependent upon how second quarter earnings shook out and the company's guidance. Expectations for the second quarter appear on the bullish side of things, raising the potential for a take-profits-on-the-news type of earnings day for Walmart. 

Eyes on earnings guidance

Whisper numbers on the Street expect Walmart's key U.S. business to post a same-store sales increase of 4% to 6% for the quarter. Walmart's guidance communicated a few months back call for a second quarter U.S. same-store sales gain of low-single digits (percentage). 

Staying on those Street whisper numbers, second quarter earnings are seen hitting $1.65 a share (consensus $1.55). Walmart guided to an earnings decline of low-single digits from $1.56 a year ago.

Given those heightened expectations on the quarter and strong potential for Walmart to say the third quarter has started well, the Street is likely banking on a strong full-year earnings guidance lift from Walmart to sustain the stock's recent gains. Currently, Walmart's full-year profit outlook calls for a low-double digit increase year-over-year excluding exited businesses. 

But considering the economic uncertainty around the COVID-19 Delta variant and how it may impact consumer spending during the important back-to-school and holiday shopping seasons, Walmart could take a more muted tone on guidance much to the letdown of the bulls. 

Horvers says he understands the appeal of Walmart's stock right now, but suggests sitting out on the name into earnings.

"Net-net, while the stock underperformance and defensiveness given the Delta variant is appealing, at 24x our estimate, we think the stock is relatively full with the market unlikely to roll forward 2Q stacks (though we are positive Walmart could at least hold earnings flat in 2022)," Horvers adds.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Turbine 5 to produce 162 MW of renewable hydropower, providing the Kamoa-Kakula Copper Complex and associated smelter with sustainable electricity for Phase 3 and future expansions

Combined 240 MW output from the Mwadingusha and Inga II hydropower plants also will benefit local communities

Kinshasa, Democratic Republic of Congo–(Newsfile Corp. – August 16, 2021) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Co-Chairs Robert Friedland and Yufeng "Miles" Sun are pleased to announce that Ivanhoe Mines Energy DRC – a sister company of Kamoa Copper SA tasked with delivering reliable, clean, renewable hydropower to the Kamoa-Kakula Copper Mine – has extended its existing financing agreement under a public-private partnership with the Democratic Republic of Congo's state-owned power company, La Société Nationale d' Électricité (SNEL), to upgrade turbine 5, a major turbine in the existing Inga II hydropower facility on the Congo River.

The extension of this financing agreement builds on the framework agreed in the memorandum of understanding signed with SNEL and announced in April 2021.

An estimated 162 megawatts (MW) of hydropower is expected to be generated by upgrading Inga II's turbine 5, which when combined with the 78 MW of hydropower from the Mwadingusha facility, will give Kamoa-Kakula priority access to a combined 240 MW of clean, renewable electricity.

The financing agreement was originally entered into in connection with the joint rehabilitation of the Mwadingusha hydropower plant under the first public-private partnership with SNEL, where five of six turbines now have been completed. Under this financial arrangement, rehabilitation and upgrade activities are financed by Kamoa Copper's holding company, Kamoa Holding, by way of a loan to SNEL, which will be repaid through a deduction to monthly power bills incurred over the life of the loan.

Kamoa Copper and SNEL, together with the expertise of Stucky SA of Lausanne, Switzerland, and Voith Hydro of Heidenheim, Germany, respectively the EPCM and the contractor, have commenced a technical assessment to define the scope of work and associated costs estimate. The work also will include upgrading of the terminal equipment on the Inga-Kolwezi transmission line to increase its transfer capacity by a minimum of 200 MW.

Mr. Friedland commented: "The Kamoa Copper management team continues to execute on our strategic plan to systematically expand Kamoa-Kakula into one of the world's largest and greenest copper producers. The timely refurbishment of turbine 5 at the Inga II hydropower complex is instrumental in ensuring we meet the aggressive expansion goals we've set out to accomplish in the next few years."

SNEL CEO, Jean-Bosco Kayombo Kayan, added: "SNEL and Ivanhoe Mines Energy are confident that the Inga II project will enjoy the same success as our joint rehabilitation of the Mwadingusha hydroelectric power station. We all are keen on fast-tracking the return to service of unit 5 at Inga II to provide access to electricity to more people in the Democratic Republic of Congo, and to meet the power demands of the world-scale Kamoa-Kakula Copper Mine."

Estimated 162 MW of hydropower expected to be generated by Inga II turbine 5 upgrade

The Inga II hydropower plant is located in the southwest of the DRC, on the Congo River. The Congo River is the deepest river in the world and the second longest after the Nile, with a flow rate second only to the Amazon River. Measured along with the Lualaba, the main tributary, the Congo River has a total length of 4,370 kilometres. It is the only major river to cross the equator twice. The Congo River is unique in that it has large rapids and waterfalls very close to the mouth, while most rivers have these features upstream. The rapids and waterfalls give the Congo River huge hydropower potential. The Congo Basin covers an estimated total area of 3.7 million square kilometres, approximately 13% of the entire African landmass.

Originally equipped between 1977 and 1982, Inga II has been running for approximately 40 years. Four of the eight turbines at Inga II have been refurbished. Turbine 5 is one of the remaining four turbines that are awaiting an upgrade. An estimated output of 162 MW is expected to be unlocked by upgrading Inga II's turbine 5, part of which will be used to meet future power requirements of the Kamoa-Kakula Mine. The surplus power produced from the upgraded turbine will be distributed on the national power grid to increase access to electricity for the citizens of the Democratic Republic of Congo.

SNEL and Ivanhoe Mines Energy DRC have appointed Voith Hydro, a leading engineering group, as the contractor to lead the consortium of equipment manufacturers for the turbine upgrade. For more than 80 years, Voith has successfully constructed and modernized hydropower plants on the African continent, and approximately 25% of currently installed turbine capacity in Africa has been supplied by Voith. The company also has successfully rehabilitated two turbine generators at the adjoining Inga I hydropower plant, a project that was financed by the World Bank.

The Kamoa-Kakula Copper Project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%).

The Inga II dam wall and penstocks, with turbine 5 indicated by the red arrow.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3396/93198_ivanhoefigure1.jpg

Aerial view of the Inga I (rear) and Inga II (front) hydropower plants on the Congo River. The penstock funneling water to turbine 5 at Inga II is circled in red.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3396/93198_ivanhoefigure2.jpg

The map below shows the Inga and Mwadingusha hydropower complexes, the 1,700-kilometre Inga-Kolwezi high-voltage direct current power line, the Kamoa-Kakula Project, the new 220-kilovolt power line connecting Kamoa-Kakula to the national grid at Kolwezi, and the Benguela railway connecting the DRC to the Angolan port of Lobito.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3396/93198_be73498054431840_006full.jpg

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the DRC and at the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC.

Kamoa-Kakula began producing copper in May 2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and will be among the world's lowest greenhouse gas emitters per unit of metal produced. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.

Information contacts

Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034

Forward-looking statements (to be updated)

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Such statements include without limitation, the timing and results of: (i) statements regarding an estimated 162 megawatts (MW) of hydropower is expected to be generated by upgrading Inga II's turbine 5, which when combined with the 78 MW of hydropower from the Mwadingusha facility, will give Kamoa-Kakula priority access to a combined 240 MW of clean, renewable electricity; and (ii) statements regarding Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and will be among the world's lowest greenhouse gas emitters per unit of metal produced.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed below and under "Risk Factors", and elsewhere in this release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.

The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth below in the "Risk Factors" section in the company's 2021 Q2 MD&A and its current annual information form.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93198

Cleveland-Cliffs and other metals and mining companies face pressure due to macro issues in China.

(Bloomberg) — BHP Group is in talks over a potential merger of its oil and gas unit with Woodside Petroleum Ltd. to accelerate a retreat from fossil fuels amid increasing pressure to curb emissions.

Options being discussed include a distribution of Woodside shares to BHP holders to allow the Australian energy firm to add operations spanning Australia to the Gulf of Mexico, the companies said in separate statements. BHP’s unit could be valued at more than $15 billion, a person familiar with the details said last month.

The petroleum division “simply no longer fits within BHP’s portfolio or future-facing strategy,” said Saul Kavonic, an analyst at Credit Suisse Group AG. Having missed opportunities to sell thermal coal assets at higher prices, “BHP should know it’s better to exit petroleum sooner rather than later,” he said.

BHP, which generates the bulk of profits from iron ore and copper, is reviewing its portfolio as energy supermajors grapple with global pressure from investors and governments over climate action, in some cases by shrinking core production and adding renewable energy assets. Chief Executive Officer Mike Henry has already signaled plans to focus the world’s biggest miner on materials tied to renewable energy and electrification.

Woodside declined as much as 4.5% in Sydney trading Monday and was 4.4% lower as of 3:39 p.m. local time. BHP fell 0.9%.

“BHP confirms that we have initiated a strategic review of our petroleum business to re-assess its position and long-term strategic fit,” the company said. While talks with Woodside “are currently progressing, no agreement has been reached on any such transaction,” it said.

Though BHP has said it expects oil and gas demand to remain strong for at least another decade, and recently announced $800 million of investments in growth options, the company is wary of becoming stuck with assets that’ll become more difficult to exit as the world attempts to curb consumption of fossil fuels.

The talks with Woodside come a week after environmental campaign group Market Forces tabled a proposal on behalf of about 100 small investors that calls on BHP to wind down oil, gas and coal production in line with international targets to cut greenhouse gas emissions. A deal that would see investors take on Woodside shares risks undercutting BHP’s climate pledge, according to campaigner Will van de Pol.

“We know that investors have clearly signed up to the goal of net zero by 2050,” he said. “They’re increasingly understanding what that means, and it means no expansion of the oil & gas sector. So for investors to be lumped with shares in a company that is trying to expand its oil and gas production, I don’t think it’s going to sit that well.”

Asset Sales

Output in BHP’s oil and gas unit, which includes operations in Australia’s Bass Strait and North West Shelf, the U.S. Gulf of Mexico and in Trinidad and Tobago, declined 6% in the year to June 30. BHP is a partner in the projects with firms including BP Plc, Exxon Mobil Corp. and Woodside.

BHP sold the majority of its shale unit to BP in 2018 for about $10.5 billion, and is advancing plans to exit its final thermal coal mine and some metallurgical coal operations. Those divestments would leave the company with only a handful of fossil fuels assets, a collection of mines in Queensland that supply coal to steelmakers.

Last month, Bloomberg News reported BHP was considering plans to quit oil and gas. Woodside and BHP are in advanced talks over a deal worth about A$20 billion ($14.7 billion), the Australian Financial Review reported on Sunday, citing people familiar with the matter.

Melbourne-based BHP is scheduled to report annual results Tuesday.

(Updates with analyst comment in third paragraph.)

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In this article, we will be looking at 10 Russell 2000 basic materials dividend stocks to buy. To skip our detailed analysis of the basic materials sector, you can go directly to see the 5 Russell 2000 Basic Materials Dividend Stocks to Buy.

The basic materials sector is one that is typically considered to be less exciting or gripping than others, like say the technology sector. However, it is a sector that can be considered among the winners of the market in 2021. There are a couple of reasons for this, most notably the fact that President Biden's administration and its focus on a greener and more environmentally friendly America would lead to a greater focus on the production of green technology, and electric vehicles (EVs) in particular. How this may affect the basic materials sector is the next, and most natural question, and is easily answered when one considers that metals produced and refined by this sector, such as copper, lithium, and others, are among the few most vital elements required in the production of EVs and green electricity.

However, this is not the only reason why the materials sector can be expected to become a not-so-boring sector this year. Rather there are a number of factors contributing to the rising popularity of basic materials stocks like Rio Tinto Group (NYSE: RIO), Freeport-McMoRan Inc. (NYSE: FCX), LyondellBasell Industries N.V. (NYSE: LYB), and International Paper Company (NYSE: IP).

Before considering other factors, let's look at the one mentioned above first. According to a Fidelity report on outlook for the basic materials sector in 2021, particularly in relation to the rising sales and production of EVs in the US and the growing demand for green electricity, we can see that there are positive prospects for the sector in the US. EV sales in the country are expected to rise by almost 12% between 2010 and 2050, to almost 2 million such vehicles being sold in the US alone. According to this report, as the EV market is reliant on batteries that in turn are dependent on lithium, cobalt, and nickel, it can be expected that companies involved in the production and handling of these metals within the materials sector are set to profit in the coming 2 decades. In fact, the Fidelity report has estimated that the rising demand for lithium and similar commodities has already risen so much that by the mid-2020s we may already be facing a supply crunch for these materials. On the same note, the report has estimated that by 2030, over 80% of the total demand for lithium is expected to come from the EV sector, with the metal seeing an eye-popping double-digit annual growth in its demand.

Apart from the above, a Stansberry Investor report from this July has also mentioned that the basic materials sector has, quite surprisingly for some, been able to jump by about 25% from January to May 2021. The gain has easily overtaken the return of the S&P 500 as well, being almost double the benchmark's index's return over the same timeframe. It has also been estimated that this sector in particular has managed to yield stable and positive returns at least since as far back as 2000, with a 7% annual return being quoted since then. This demonstrates not only a positive performance on part of this sector, to the joy of investors, but also a consistently positive performance, for the most part. Adding on to this is the fact that it has been reportedly stated by Bloomberg that the S&P 500 Materials Index has been able to perform well enough to earn it the title of the best sector on the market, just after the energy sector, as of this March. With shares soaring during the first few months of 2021 and commodity prices rising during the pandemic, the index went up by about 98%. In any case, the sector's performance is increasingly becoming hard to doubt.

While the basic materials sector soars, the entire hedge fund industry is still feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 124 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.

Let's now look at the 10 Russell 2000 basic materials dividend stocks.

Our Methodology

We have used Insider Monkey's data of about 866 hedge funds alongside the Russell 2000 index to select small-cap basic materials dividend stocks that are more popular among hedge funds this year. The stocks also have mostly positive analysts' ratings and robust fundamentals, demonstrating their financial strength. Finally, we have mentioned the dividend yields and the number of hedge fund holders for each stock as well, ranking them from the lowest to the highest dividend yield.

Russell 2000 Basic Materials Dividend Stocks

10. FutureFuel Corp. (NYSE: FF)

Number of Hedge Fund Holders: 9 Dividend Yield: 2.4%

FutureFuel Corp. (NYSE: FF) is a manufacturer and seller of diversified chemical, bio-based fuel, and bio-based specialty chemical products in the US. The company ranks 10th on our list of Russell 2000 basic materials dividend stocks and operates through its Chemicals and Biofuels segments.

In the second quarter of 2021, FutureFuel Corp. (NYSE: FF) had an EPS of $0.08. The company's revenue of $ 74.12 million was up 56.3% year over year and beat the previous quarter's revenue of $41.52 million.

By the end of the first quarter of 2021, 9 hedge funds out of the 866 tracked by Insider Monkey held stakes in FutureFuel Corp. (NYSE: FF) worth roughly $60.7 million. This is compared to 10 hedge funds in the previous quarter with a total stake value of approximately $54.4 million.

Like Rio Tinto Group (NYSE: RIO), Freeport-McMoRan Inc. (NYSE: FCX), LyondellBasell Industries N.V. (NYSE: LYB), and International Paper Company (NYSE: IP), FutureFuel Corp. (NYSE: FF) is a good stock to invest in.

9. Cabot Corporation (NYSE: CBT)

Number of Hedge Fund Holders: 23 Dividend Yield: 2.6%

Cabot Corporation (NYSE: CBT) is a specialty chemicals and performance materials company. It ranks 9th on our list of Russell 2000 basic materials dividend stocks and operates through its Reinforcement Materials, Performance Chemicals, and Purification Solutions segments.

This July, JPMorgan's Jeffrey Zekauskas upgraded shares of Cabot Corporation (NYSE: CBT) from Neutral to Overweight. The analyst also has a $62 price target on the stock.

In the fiscal third quarter of 2021, Cabot Corporation (NYSE: CBT) had an EPS of $1.35, beating estimates by $0.17. The company's revenue of $917 million was up 77.03% year over year and beat estimates by $112.30 million. Cabot Corporation (NYSE: CBT) has gained 10.69% in the past 6 months and 24.50% year to date.

By the end of the first quarter of 2021, 23 hedge funds out of the 866 tracked by Insider Monkey held stakes in Cabot Corporation (NYSE: CBT) worth roughly $111 million. This is compared to 20 hedge funds in the previous quarter with a total stake value of approximately $106 million.

Like Rio Tinto Group (NYSE: RIO), Freeport-McMoRan Inc. (NYSE: FCX), LyondellBasell Industries N.V. (NYSE: LYB), and International Paper Company (NYSE: IP), Cabot Corporation (NYSE: CBT) is a good stock to invest in.

8. Oil-Dri Corporation of America (NYSE: ODC)

Number of Hedge Fund Holders: 4 Dividend Yield: 2.9%

Oil-Dri Corporation of America (NYSE: ODC) is a developer of sorbent products in the US and globally. The company operates through its Retail and Wholesale Products Group and Business to Business Products Group segments. It ranks 8th on our list of Russell 2000 basic materials dividend stocks.

In the fiscal third quarter of 2021, Oil-Dri Corporation of America (NYSE: ODC) had an EPS of $0.30. The company's revenue of $76.26 million was up 8.86% year over year and beat the previous quarter's revenue of $74.50 million. Oil-Dri Corporation of America (NYSE: ODC) has gained 3.44% year to date and 0.92% in the past year.

By the end of the first quarter of 2021, 4 hedge funds out of the 866 tracked by Insider Monkey held stakes in Oil-Dri Corporation of America (NYSE: ODC) worth roughly $29.5 million. This is compared to 4 hedge funds in the previous quarter with a total stake value of approximately $30.6 million.

Like Rio Tinto Group (NYSE: RIO), Freeport-McMoRan Inc. (NYSE: FCX), LyondellBasell Industries N.V. (NYSE: LYB), and International Paper Company (NYSE: IP), Oil-Dri Corporation of America (NYSE: ODC) is a good stock to invest in.

7. SunCoke Energy, Inc. (NYSE: SXC)

Number of Hedge Fund Holders: 22 Dividend Yield: 3.2%

SunCoke Energy, Inc. (NYSE: SXC) is an independent producer of coke in the US and Brazil. The company ranks 7th on our list of Russell 2000 basic materials dividend stocks and operates through three segments, namely the Domestic Coke, Brazil Coke, and Logistics segments. It provides metallurgical and thermal coal alongside handling and mixing services to its steel, coke, electric utility, coal producing, and other related customers.

Lucas Pipes, an analyst at B. Riley, this July raised his price target on shares of SunCoke Energy, Inc. (NYSE: SXC) from $9 to $10. The analyst also reiterated a Buy rating on the shares.

In the second quarter of 2021, SunCoke Energy, Inc. (NYSE: SXC) had an EPS of -$0.11, missing estimates by $0.20. The company's revenue of $364.30 million was up 7.78% year over year and beat estimates by $44.85 million. SunCoke Energy, Inc. (NYSE: SXC) has gained 18.21% in the past 6 months and 59.48% in the past year.

By the end of the first quarter of 2021, 22 hedge funds out of the 866 tracked by Insider Monkey held stakes in SunCoke Energy, Inc. (NYSE: SXC) worth roughly $87 million. This is compared to 19 hedge funds in the previous quarter with a total stake value of approximately $66 million.

Like Rio Tinto Group (NYSE: RIO), Freeport-McMoRan Inc. (NYSE: FCX), LyondellBasell Industries N.V. (NYSE: LYB), and International Paper Company (NYSE: IP), SunCoke Energy, Inc. (NYSE: SXC) is a good stock to invest in.

6. Glatfelter Corporation (NYSE: GLT)

Number of Hedge Fund Holders: 8 Dividend Yield: 3.4%

Glatfelter Corporation (NYSE: GLT) is a manufacturer of engineered materials for sale across the globe. The company has two segments, Composite Fibers, and Airlaid Materials. It ranks 6th on our list of Russell 2000 basic materials dividend stocks.

BMO Capital just this July upgraded shares of Glatfelter Corporation (NYSE: GLT) from Market Perform to Outperform. Analyst Mark Wilde, who pushed the upgrade, also holds an unchanged $17 price target on Glatfelter Corporation (NYSE: GLT) shares.

In the second quarter of 2021, Glatfelter Corporation (NYSE: GLT) had an EPS of $0.18, beating estimates by $0.04. The company's revenue of $244.91 million was up 13.29% year over year and beat estimates by $2.91 million.

By the end of the first quarter of 2021, 8 hedge funds out of the 866 tracked by Insider Monkey held stakes in Glatfelter Corporation (NYSE: GLT) worth roughly $30.7 million. This is compared to 7 hedge funds in the previous quarter with a total stake value of approximately $21.6 million.

Like Rio Tinto Group (NYSE: RIO), Freeport-McMoRan Inc. (NYSE: FCX), LyondellBasell Industries N.V. (NYSE: LYB), and International Paper Company (NYSE: IP), Glatfelter Corporation (NYSE: GLT) is a good stock to invest in.

Click to continue reading and see the 5 Russell 2000 Basic Materials Dividend Stocks to Buy.

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Disclosure: None. 10 Russell 2000 Basic Materials Dividend Stocks to Buy is originally published on Insider Monkey.

CMP earnings call for the period ending June 30, 2021.

TORONTO, August 16, 2021–(BUSINESS WIRE)–Silver Bear Resources Plc ("Silver Bear" or the "Company") (TSX: SBR) announces the filing of its unaudited financial results for the three and six-month period ended 30 June 2021 today, including development highlights from its Mangazeisky silver project in Far East Russia.

For complete details of the unaudited consolidated financial statements ("Financial Statements") and associated management’s discussion and analysis ("MD&A"), please refer to the Company’s filings on SEDAR (www.sedar.com) or the Company’s website (www.silverbearresources.com).

Q2 2021 HIGHLIGHTS

During the three and six-month period ended 30 June 2021 the Group production statistics included:

• Mined a total of 19,978 tonnes of ore (six months: 45,178 tonnes), processed 10,801 tonnes of ore (six months: 34,626 tonnes) at an average grade of 463 g/t of silver (six months: 588 g/t Ag), producing a total of 137,687 ounces of silver (six months: 573,773 ounces Ag);

• Sold a total of 160,571 ounces of silver (six months: 655,801 ounces Ag) totaling production revenue of US$4,271,405 (six months: US$17,394,425) and reported a total comprehensive loss of $3,344,980 (six months: US$9,558,865) and an accumulated deficit of $229,419,891.

• Exploration program 2021 is underway. Geophysical works (152 km2) and aerial survey (518 km2) completed on the Endybal area. Drilling is being done on the flanks of Vertikalny (South East and North West) and at other potentially mineralized zones on the licensed territory. 3,657 meters have been drilled during the 6 months out of 9,515 meters planned for the year. The company also planes to do 2,400 meters of trenching through the end of the exploration season.

• As of the date of this report, the Group confirms there have been no major disruptions at either sites or to the Group’s planned production and operations due to the COVID-19 pandemic.

MANGAZEISKY SILVER PROJECT COMMERCIAL PRODUCTION

The table below details the production highlights for three and six-month period ended 30 June 2021 and 2020.

Production Highlights

Development & Operational Activities
During the second quarter 2021, the Group mined 50% less ore compared to the same quarter in 2020, as it moved deeper into Vertikalny open pit and in the second quarter mining vehicles were actively involved in open pit extension. Mining head grade reduced from second quarter 2020 to second quarter in 2021 by 29%, however recoveries remained steady as a result of several factors notably the full year of operating the Merrill Crowe process and improved cake washing technics at the end of the technological processing circuit, as well as other operational efficiencies implemented during the year. The 76% decrease in the silver production in the second quarter 2021 over 2020, is primarily due to volume of processed oxide ore and head grade. As it moves deeper down the open pit the company started incurring primary ore which is being stockpiled for future processing once the flotation facility is constructed and in production (expected in H2 2022). For the three-months ended June 30, 2021, the Group’s revenues decreased by 56% compared to the same period in 2020 due to decreased head grade and volume of produced silver.

During the 2021 winter road procurement and transportation campaign the company delivered approximately 14,000 tonnes of dry cargo and fuel, including regular operation supplies as well as construction materials for the flotation facility currently being built.

The construction of the flotation facility is underway. During the first half of 2021 the construction of the foundation and the pit backfill were completed, the frame of the building being currently fitted together. Walls will be put in place before the end of October 2021 so that the construction can continue inside of the building during the cold season.
As of the date of this report there are approximately 236 Prognoz employees at site. There are also 59 contractors, namely catering, process consultants, and construction workers. As of 30 June 2021, there was one minor loss time accident during the quarter with four mild COVID-19 cases reported with personnel isolated for 14 days.
In light of the World Health Organization ("WHO") declaring COVID-19 a global pandemic in March of this year, the Group has developed and implemented a response and mitigation plan for both its Yakutsk head office and Mangazeisky mine site. At the date of this report the Group has had no major disruptions at either sites or to our planned production and operations, however we continue to monitor the situation ensuring we keep the safety of our work force our main priority.

Exploration Activities
Exploration program 2021 is underway. During the year the company is planning to drill appx. 10,000 meters and complete 2,400 meters of trenching on the flanks of Vertikalny and other surrounding mineralized areas with high exploration potential with the goal to increase mineable resources for the processing plant on Vertikalny. There have been 3,657 meters drilled during the 6 months of the year. Geophysical works (152 km2) and aerial survey (518 km2) completed on the Endybal area.

About Silver Bear
Silver Bear (TSX: SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project, covering a licence area of approximately 570 km² that includes the high-grade Vertikalny deposit (amongst the highest- grade silver deposits in the world), located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. As of April 2018, the Company attained first silver production as a result of commissioning activities and on 1 July 2019 the Company achieved full commercial production. Other information relating to Silver Bear is available on SEDAR at www.sedar.com as well as on the Company’s website at www.silverbearresources.com.

Cautionary Notes
This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements, which reflect management's expectations. Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Company cannot be certain that actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risk factors include, but are not limited, to the risk factors identified by the Company in its continuous disclosure filings filed from time to time on SEDAR. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause the Company's actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210816005603/en/

Contacts

Vadim Ilchuk
President and Chief Executive Officer
T: +7 985 866 8877
info@silverbearresources.com

Judith Webster
Investor Relations Manager & Corporate Secretary
T: +416 453 8818
jwebster@silverbearresources.com