Investors interested in stocks from the Fertilizers sector have probably already heard of Mosaic (MOS) and SQM (SQM). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive 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.

Both Mosaic and SQM have a Zacks Rank of # 2 (Buy) right now. This means that both companies have witnessed positive earnings estimate revisions, so investors should feel comfortable knowing that both of these stocks have an improving earnings outlook. 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.

MOS currently has a forward P/E ratio of 7.93, while SQM has a forward P/E of 39.05. We also note that MOS has a PEG ratio of 1.13. 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. SQM currently has a PEG ratio of 1.20.

Another notable valuation metric for MOS is its P/B ratio of 1.11. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, SQM has a P/B of 5.94.

These are just a few of the metrics contributing to MOS's Value grade of A and SQM's Value grade of D.

Both MOS and SQM are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that MOS is the superior value option right now.

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GRAND BAIE, Mauritius, Aug. 06, 2021 (GLOBE NEWSWIRE) — Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX, “Alphamin” or the “Company”), a producer of 4% of the world’s mined tin¹ from its high grade operation in the Democratic Republic of Congo, has released its unaudited consolidated financial statements and accompanying Management’s Discussion and Analysis for the three and six months ended June 30, 2021:

• Q2 EBITDA of $34,1m, at a tin price of $28,308/t versus current of $34,700/t

• Net Debt reduced to $29,5m

• Contained tin production of 2,412 tons (11% below prior guidance and 8% below the prior quarter)

• Fine tin recovery plant fully commissioned and producing from 26 June 2021

• Mpama South phase 3 drilling progressing to plan with high-grade intercepts previously announced

• Mpama North Deeps drilling commenced with additional rigs under mobilisation to accelerate drilling campaign

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Operational and Financial Summary for the Quarter ended June 2021²

Operational and Financial Performance

Contained tin production of 2,412 tons was 11% below guidance (2,700 tons), impacted by a low feed grade of 3.2% Sn compared to 3.8% Sn the previous quarter. The month of June 2021 saw lower than expected grades from underground. The variable nature of high-grade tin mineralisation in the orebody may cause large fluctuations in delivered grade – as a mitigating tool we will increase planned waste development for the remainder of the year in order to provide more mining flexibility for blending high- and low-grade areas.

Taking into consideration the lower feed grade, the processing plant performed well, treating 12% more material and achieving recoveries of 72%.

Our EBITDA of $34,1m for Q2 2021 is 7% below Q1 2021 – the previous quarter benefitted from a significant catch-up in tin sales following logistical bottlenecks during Q4 2020. Tin prices are currently trading at around $34,700/t, 23% above prices achieved during the past quarter.

Net debt amounted to $29,5m at 30 June 2021, down 50% from the start of the financial year (31 December 2020: $59,9m).

The Company has appointed Mr. Jan Trouw as the on-mine Managing Director of its 84,14% subsidiary, Alphamin Bisie Mining, effective 1 July 2021. Mr Trouw is well known to the Alphamin team and has over 40 years of African mining experience – recently as head of the Frontier copper mine in the DRC and prior to that as General Manager of the high-grade Chibuluma copper mine in Zambia. He was instrumental during late 2019 as an advisor in developing the new mining method and mine design criteria for Alphamin’s Bisie tin mine. We look forward to working with Mr Trouw in realising our vision of becoming one of the world’s largest long-life tin producers.

Over the last 7 years, Alphamin’s Bisie tin mine has developed from an exploration asset to a steady state operating mine, producing 4% of the world’s mined tin. Our Chief Operating Officer, Mr Trevor Faber, was instrumental in delivering on this key objective with exceptional drive under challenging conditions. By mutual agreement, Mr Faber and the Company resolved that it’s Bisie mine is in safe hands under the on-mine leadership of the Managing Director, Mr Trouw, and his team. Therefore Mr Faber’s role as corporate Chief Operating Officer is no longer required with effect 5 August 2021. The Board wishes to express its sincere gratitude to Mr Faber for a job well done and looks forward to following his future successes in developing the next major project.

Guidance for H2 2021

The grade of ore mined from underground in Q2 2021 was lower than that expected from the Mineral Resource model, although some benefit was gained from additional tin mineralisation delineated by grade control drilling. Overall, for material mined since commissioning to date, the actual grades from underground were substantially in line with the Resource Model after taking account of planned dilution factors.

Underground practices relating to stope planning, delineation and blasting were sub-optimal during H1 2021. Our newly appointed ABM Managing Director, Jan Trouw, has already introduced much improved planning and mining practices with positive results.

For the second half of 2021 and into Q1 2022, we expect to mine lower tin grades averaging 3,2% to 3,5%, which at higher plant recoveries of 78% (including the FTP recovery) and monthly throughput of 36,000t amounts to contained tin production of between 900t and 1000t per month. Production guidance for H2 2021 is approximately 5,500t of contained tin (previous guidance: 6,500t). The grade of ore mined is expected to increase to an average of 4% from Q2 2022 leaving this lower grade window as temporary.

Growth Initiatives

Fine Tin Recovery Plant (FTP) – The FTP is fully commissioned and has produced at steady state from 26 June 2021. Expenditure at completion amounted to US$5.7 million. Production from the FTP since commissioning increased overall contained tin production by 5%. This exceeded expectations so early after commissioning. Optimisation work in pursuit of higher FTP recoveries is ongoing.

Exploration Activities – Alphamin’s exploration initiative aims to: extend the life-of-mine at its currently producing Mpama North operation; to declare a Maiden Mineral Resource for Mpama South (located 750 metres south of Mpama North); and to discover at least one additional orebody on the highly prospective Bisie Ridge (13km strike length).

Drilling at the Mpama North orebody commenced on 2 July 2021. An initial 15,000 metre (22 holes) drilling campaign over 4 months is planned to test the strike and dip extension of the current producing orebody, below 400m in depth from the mine portal.

The initial Mpama South drilling program comprises of 16,800m of which 12,300m (52 holes) has been completed. Independent laboratory assays have been received for 39 holes to date. This initial drilling program is intended to form the basis of a Mineral Resource estimation exercise, the results of which are expected to be announced by the end of 2021. Infill drilling and further step-out drilling will continue from after August for the remainder of 2021. As previously announced, drilling results to date indicate the potential for another high-grade deposit, 750m South of the Company’s current producing Mpama North mine.

In addition to Mpama North and Mpama South, drilling on the highly prospective Bisie ridge (13km strike length), which falls within the Company’s mining licence, is expected to commence during Q3 2021. The Company’s appointed structural specialists, TECT Geological Consulting, identified high potential drill targets less than 8km south of the current operating mine.

Covid-19 Pandemic and Impact on Operations

The health of our employees is of paramount importance and in this regard the Company has a range of Covid-19 awareness, prevention and other risk mitigation controls in place.

To date, the Company has been able to continue with normal production and concentrate sales activities and has not been negatively affected by the Covid-19 pandemic.

Qualified Person

Mr. Clive Brown Pr. Eng., B.Sc. Engineering (Mining), is a qualified person (QP) as defined in National Instrument 43-101 and has reviewed and approved the scientific and technical information contained in this news release. He is a Principal Consultant and Director of Bara Consulting Pty Limited, an independent technical consultant to the Company.

____________________________________________________________

FOR MORE INFORMATION, PLEASE CONTACT:

Maritz Smith
CEO
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: msmith@alphaminresources.com

CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Forward-looking statements contained herein include, without limitation, statements relating to expected future EBITDA for Q2 2021, the impact of the Company’s fine tin recovery plant on production and the timing and success of additional exploration drilling outcomes. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although Alphamin has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to: uncertainties associated with Alphamin’s resource and reserve estimates, uncertainties regarding estimates of the expected mined tin grades, processing plant performance and recoveries, uncertainties regarding global supply and demand for tin and market and sales prices, uncertainties with respect to social, community and environmental impacts, uninterupted access to required infrastructure, adverse political events, impacts of the global Covid-19 pandemic on mining operations and commodity prices as well as those risk factors set out in the Company’s Management Discussion and Analysis and other disclosure documents available under the Company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this news release and Alphamin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

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

USE OF NON-IFRS FINANCIAL PERFORMANCE MEASURES
This announcement refers to the following non-IFRS financial performance measure:

EBITDA

EBITDA is profit before net finance expense, income taxes and depreciation, depletion, and amortization. EBITDA provides insight into our overall business performance (a combination of cost management and growth) and is the corresponding flow driver towards the objective of achieving industry-leading returns. This measure assists readers in understanding the ongoing cash generating potential of the business including liquidity to fund working capital, servicing debt, and funding capital expenditures and investment opportunities.

This measure is not recognized under IFRS as it does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. EBITDA data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

____________________________________________________________
¹Data obtained from International Tin Association Tin Industry Review 2020 ² Production information is disclosed on a 100% basis. Alphamin indirectly owns 84.14% of its operating subsidiary to which the information relates.

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

VALE S.A. (VALE) is a stock many investors are watching right now. VALE is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock is trading with P/E ratio of 4.02 right now. For comparison, its industry sports an average P/E of 4.03. VALE's Forward P/E has been as high as 6.95 and as low as 3.82, with a median of 4.97, all within the past year.

Finally, we should also recognize that VALE has a P/CF ratio of 7.86. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. VALE's current P/CF looks attractive when compared to its industry's average P/CF of 9.41. VALE's P/CF has been as high as 14.10 and as low as 6.25, with a median of 10.57, all within the past year.

These are only a few of the key metrics included in VALE S.A.'s strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, VALE looks like an impressive value stock at the moment.

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• The first drill hole from the North pad, GD21-006 (completed @ 195 meters, 060⁰/-62⁰) and intersected 61.5 meters* of quartz-sulphides (galena, pyrrhotite, sphalerite, chalcopyrite) veining, brecciation and alteration from 72.0 to 133.5 meters downhole length.

• Based on Portable XRF readings returned up to 326 g/t Silver, 1.2% Copper, 7.16% Zinc and 6.77 % Lead (link to images).

• GD21-006 is a 600 meter step out to the north from the Cliff pad confirming mineralization at ~350 meters down-dip and ~450 meters along strike that remains open in all directions (link to images).

• GD21-006 drilled directly below the North pad and was projected to hit the Main Vein @ 120 meters downhole length, however quartz-sulphides veining was intersected starting at 72.0 meters downhole length, with three ~1 meter intervals of more massive quartz-sulphides between 79.0 to 80.5 meters, 86.7 to 88.0 and 117.3 to 118 meters downhole lengths.

• Drill core from the polymetallic mineralization in the 5 drill holes from the Cliff pad have been sent for assaying and first results from GD21-001 are expected shortly.

• A fully funded second drill has been added to the campaign based on the polymetallic mineralization observed. It will include drilling Cloud Nine ~900 meters west of Surebet at depth to confirm if it is a feeder system for the Surebet polymetallic mineralization.

• A minimum of 4 fan drill holes will be completed at the North pad, and additional fan drilling is planned for the Lower and Upper Waterfall, Main and Central and pads of the Surebet Polymetallic Gold-Silver Zone, testing the exposed at surface strike length of ~1000 meters. The drill campaign will include step-back holes to test the mineralized structure to a down-dip extent of 500 meters.

• A recent airborne geophysical survey and 3D modelling defined a large intrusive body to the west and underlying both Surebet Zone and the entire surrounding area what could be the sources/drivers behind this extensive system of high-grade gold-silver mineralization.

• ~5,000 meters of drilling are planned and will target the extensive Surebet higher-grade gold-silver discovery from the exposed quartz-sulphide and sulphide occurrences along strike and to depth (link to video).

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the exact geometry of the quartz-sulphides system. ** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; they simply give an indication of the presence of certain metal elements in the drill core. Spot measurements referenced here were collected using a Niton XL3t XRF Analyzer, which cannot reliably detect Gold, but does detect the geochemical pathfinder elements such as Silver, Copper, Zinc, Lead and Tungsten that are commonly associated with Gold. Assay results are pending.

TORONTO, Aug. 06, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to report a 61.5 meters* drill intercept of quartz-sulphide (galena, pyrrhotite, sphalerite, chalcopyrite) veining, brecciation and associated alteration from the sixth drill hole GD21-006 during the Company’s 2021 maiden diamond drill campaign at its 100% controlled Golddigger Property (the “Property”). Based on the initial observations of extensive polymetallic mineralization in the first five drill holes, a fully funded second drill rig has been added to the maiden 2021 drill program.

Both rigs will continue to trace the full extent of the Surebet Polymetallic Gold-Silver Zone (“Surebet”) along strike and at depth. The recently completed airborne geophysics survey (Magnetics, Electromagnetics) indicates more widespread magnetism at Surebet, likely related to the presence of pervasive magnetic pyrrhotite. The survey also defined the boundary of the major intrusive body to the west along with several offshoot dykes in the immediate area of the known Surebet mineralization, both of which are believed to be part of the driving force of the polymetallic mineralization.

Additional fan drilling is planned for the adjacent Lower and Upper Waterfall, Main, Central and North Pads at Surebet, testing the exposed at surface strike length of 1000 meters. The drill campaign has been modified focussing on step-back holes to test the mineralized structure to a down-dip extent of 500 meters. In addition, the Company plans on testing the Cloud 9 Gold Zone (“Cloud 9”), and the projected mineralized vertical structure. Cloud 9 is located between ~900 meters west of the Surebet Zone. Here, drilling will test Cloud 9 at depth to confirm if it is a feeder system for the Surebet polymetallic mineralization. If successful, this would extend the down dip depth nearly 1000 meters. Surebet still remains open in all directions.

The recently completed helicopter airborne geophysical survey was flown in 50 meter spacings by Precision GeoSurveys using their exclusive 3 sensor triple boom high resolution instruments (Gradient magnetics, electromagnetics). The data was modelled by both our technical team and Precision GeoSurveys and indicates more widespread magnetism at Surebet, likely related to the presence of pervasive magnetic pyrrhotite body at depth. The survey and 3D modelling defined an intrusive body to the west and underlying both Surebet Zone and the entire surrounding area. The data collected also coincides with some of the documented dikes mapped on surface in the area of the Surebet and beyond. This data has provided valuable information to assist in modelling this newly identified system at depth while providing valuable information to what could be sources /drivers behind this extensive system of high-grade gold-silver mineralization. The planned drilling will test the newly developed models while focusing on expanding the Gold Silver mineralization both along strike and to depth. Our understanding of this system will continue to grow based on the hard data collected as the inaugural drill program moves forward.

GD21-006, first drill hole at the North Pad

GD21-006 is drilled directly below North pad area, where 2020 channel and grab samples yielded intercepts of 5.13 g/t AuEq over 12.3 meters, including 17.86 g/t AuEq over 3.1 meters, and 15.09 g/t AuEq over 5.3 meters including 17.01 g/t AuEq over 4.7 meters (Company news release dated November 10, 2020). It was projected to hit Main Vein quartz-sulphides mineralization ~120 meters* down-hole. However, the drill hole intersected significant veining starting at 73.0 meters to 120.0 meters downhole length. The full interval carried between 5 and 40% quartz-sulphides vein stockwork and breccia, with 100% veining in three local 1 meter intervals.

Significant intervals within the 47 meters* section include:

1.5 meters* from 79.0 to 80.5 meters downhole length:
Quartz-sulphide breccia with galena and pyrrhotite

1.2 meters* from 86.7 to 88.0 meters downhole length:
Massive white quartz vein brecciated by ~15% sulphides, such as pyrrhotite, galena, sphalerite and chalcopyrite

0.7 meters from 117.3 to 118.0 meters downhole length:
Quartz-sulphides vein breccia, ~20% sulphides, such as pyrrhotite, galena, sphalerite and chalcopyrite

The seventh drill hole at Surebet, GD21-007 (at a targeted length of 300 meters, 030°/-62°), is being drilled to the northeast from the North drill pad again under the North channel samples

The 2021 drill campaign is designed to trace the high-grade gold-silver zone exposed at surface along 1000 meters (1km) of strike and to a down dip depth over 500 meters at the Surebet Zone (“Surebet” or the “Project”). Currently Surebet averages 9.84 meters wide grading 10.68 g/t AuEq (with 7.59 g/t Au) based on channel cut sampling taken in 2020. Surebet also has 500 meters of vertical relief and 1000 meters of inferred down dip extent. The Property is located in a mining friendly jurisdiction in a world class geological setting near Stewart, BC in the Golden Triangle of British Columbia. The Homestake Ridge Deposit (Fury Resources Inc.), Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity.

* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the geometry of the quartz-sulphides system.
** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; they simply give an indication of the presence of certain metal elements in the drill core. Spot measurements referenced here were collected using a Niton XL3t XRF Analyzer, which cannot reliably detect Gold, but does detect the geochemical pathfinder elements such as Silver, Copper, Zinc, Lead and Tungsten that are commonly associated with Gold. Assay results are pending.

QA-QC Protocols

Oriented HQ-diameter diamond drill core from the Surebet drill campaign is placed in core boxes by the drill crew of a company contracted by Goliath. Core boxes are transported by helicopter over a 15 kilometer distance to the Kitsault staging area, and then transported by truck approximately 500 meters to the Goliath core shack. The core is then re-constructed, meterage blocks are checked, meter marks are labeled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit^TM.

Drill holes were planned using Leapfrog Geo^TM and QGIS^TM software and data from the 2019 and 2020 exploration campaigns, the 2021 airborne Mag and VLF-EM geophysical survey, and an in-house lineament study incorporating observed folds, axial planes, geologic contacts, dykes swarms, cleavages, and all significant lineaments/structures.

Drill core containing quartz, sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a plastic bag with an ALS sample tag. Standards, blanks and pulp duplicates were added in the sample stream at a rate of 10%. Samples are transported in rice bags sealed with numbered security tags. Goliath personnel drives samples from

Kitsault to Terrace and a transport company takes them from there to the ALS lab facilities in North Vancouver. At ALS, samples are processed, dried, crushed, and pulverized before analysis using the ME-ICP61 and PGM-ICP24 methods. Overlimits are re-analyzed using the ME-OG62, Ag-GRA21, and PGM-ICP27 methods. If Gold is higher than 5 g/t, ALS will re-analyze using Metallic Screening (Au-SCR24C) method.

Golddigger Property

The Property has an area of 23,859 hectares (59,646 acres or 239 square-kilometers) and is located in the world class geological setting of the Golden Triangle area on tide water 30 kilometers southeast of Stewart, BC.

Surebet is located some 8 kilometers southwest of the Homestake Ridge project which is a high-grade gold-silver deposit that contains 982,700 ounces of gold @ 4.99 g/t Gold and 19,600,000 ounces of Silver @ 97.7 g/t Silver, with drill intercepts of up to 73 meters of 21 g/t Gold and 12 g/t Silver (source – Fury Resources Inc. PEA & Website) (Link to Map).

At Surebet, multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1000 meters) of strike at surface and a half a kilometer (500 meters) of vertical relief with an average true width of 9.84 meters assaying 10.68 g/t AuEq (with 7.59 g/t Gold) with 1 kilometer (1000 meters) of inferred down dip extent (3D Model & Proposed Drill Locations Video Link).

Surebet targets are contained within a shear zone and will be tested for the first time in the 2021 drill campaign. Higher grade polymetallic gold-silver mineralization is contained within a broad alteration halo of strongly silicified Hazelton Group sediments up to 43.5 meters wide containing mineralization assaying up to 0.5 g/t AuEq (Link to news November 25, 2020).

Surebet is characterized by a series of NW-SE trending structures that occur within a package of Hazelton group sediments underlain by Hazelton volcanics and are within 2 kilometers of the Red Line. Lidar imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square-kilometers area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures (Lidar Video Link).

Qualified Person

Rein Turna, P. Geo, is the qualified person as defined by National Instrument 43-101, for Goliath Resources Ltd projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and the Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.

For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887 x222
roger@goliathresources.com
www.goliathresourcesltd.com

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

MISSISSAUGA, Ontario, Aug. 06, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (“the Company” or “Canada Carbon” or “CCB”) (TSX-V:CCB), (FF:U7N1), wishes to revise the first sentence of its press release of August 3, 2021, in which it stated that CCB and GSLR were pleased to announce that they held a meeting on July 27, 2021 to begin a meaningful dialogue.

The sentence should have read, “Canada Carbon is pleased to announce that it had a meeting on July 27, 2021 with GSLR to begin a meaning dialogue.”

The remainder of the August 3, 2021 press release is unchanged.

For further information:

“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.”

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

Los Angeles, California–(Newsfile Corp. – August 5, 2021) – The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Piedmont Lithium Inc. ("Piedmont" or "the Company") (NASDAQ: PLL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between March 16, 2018 and July 19, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before September 21, 2021.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Piedmont would not follow the steps or timeline to secure all necessary permits from governmental agencies. The Company failed to inform appropriate governmental agencies and authorities of its planned activities. The Company failed to file applications with relevant authorities including the state and local governments. Despite its claims, the Company did not have "strong local government support." Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Piedmont, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com

SOURCE:

The Schall Law Firm

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92182.

VANCOUVER, British Columbia, Aug. 05, 2021 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) is pleased to announce additional promising results on process development at its Tonopah Lithium Claims (“TLC”) Project located close to Tonopah, Nevada.

Highlights:

• New leaching test work run by TECMMINE in Lima, Peru demonstrates an initial 95.1% lithium extraction using hydrochloric acid leach processing (“HCI”).

• This HCI option also allows a large amount of the hydrochloric acid to be regenerated through pyrolysis and then reused, further lowering potential reagent and operational costs.

• Metallurgical work on the TLC claystone mineralization has now demonstrated it is amenable to three ways of extracting lithium into solution.

  • i) leaching with sulfuric acid (H₂SO₄) at 80°C (92% extraction)

  • ii) salt roasting followed by water leaching (initial 82% extraction)

  • iii) leaching with hydrochloric acid (HCl) at 90°C (initial 95% extraction)

• This demonstrates exceptional flexibility to multiple process options which, coupled with the ability to pre concentrate / upgrade TLC claystones, positions the Project well.

• Ongoing process work is focused on optimizing all processing options and flow-sheet designs to enable a robust Preliminary Economic Assessment (“PEA”) with economic benefits maximized and environmental impacts minimized

Dr. Laurence Stefan, COO of American Lithium, stated “American Lithium continues to explore all relevant processing options. These new results not only demonstrate the highest lithium extraction achieved to date, but further indicates that a variety of lithium extraction options are available to us for our TLC Claystones and positions us well to deliver a robust PEA late this year / early next year. All three processes offer us the ability to produce lithium carbonate. We will focus on optimizing the best approach from an economic and environmental perspective.”

American Lithium Provides TLC Process Update:

Process work has already demonstrated that the TLC claystones are amenable to rapid lithium extraction using warm sulfuric acid leaching, reaching 92% lithium extraction in 10 minutes. In addition, up to 82% lithium extraction has been achieved using salt roasting followed by water leaching (refer to previous news release, dated June 29, 2021). Recent test work run at TECMMINE generated 95.1% lithium extraction using HCI at temperatures of 90°C for 60-minutes.

Like sulfuric acid leaching, HCI leaching results in impurities in the resulting solution which then need to be removed, but in this case with the advantage of higher lithium extraction. Another advantage of hydrochloric acid leaching is the potential to rejuvenate acid through pyrolysis for reuse. This could ultimately materially reduce reagent use and the potential operating costs of a future lithium production operation at TLC.

Optimization test work will continue into Fall 2021 using all three potential process options: hydrochloric acid, sulfuric acid as well as salt roasting/water leaching. American Lithium is committed to producing a world class process to supply cost competitive lithium products in an environmentally sound manner.

Qualified Persons
Mr. Ted O’Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical geological information contained in this news release.

About American Lithium
American Lithium is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada as well as continuing to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have been through preliminary economic assessments, exhibit strong additional exploration potential and are situated near significant infrastructure.

Please watch our informative project update videos and related background information at https://www.americanlithiumcorp.com.

For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.

On behalf of the Board of Directors of American Lithium Corp.

“Simon Clarke”
CEO & Director
Tel: 604 428 6128

For further information, please contact:
American Lithium Corp.
Email: info@americanlithiumcorp.com
Website: www.americanlithiumcorp.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 press release.

Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the plans, objectives and advancement of the TLC, Falchani and Macusani Projects (the “Projects”), exploration drilling plans, in-fill and expansion drilling plans, results of exploration and development plans, expansion of resources and testing of new deposits, environmental and social community permitting, and any other statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its stated goals, including the anticipated benefits of the acquisition of Plateau Energy Metals Inc. (“Plateau”); the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, American Lithium or others to attempt to reduce the spread of COVID-19 could affect American Lithium, which could have a material adverse impact on many aspects of American Lithium’s businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of American Lithium, including the status of the “Precautionary Measures” filed by American Lithium’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on January 19, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on January 29, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Cautionary Note Regarding Macusani Concessions Thirty-two of the 151 concessions held by American Lithium’s subsidiary Macusani, are currently subject to Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani’s title to 32 of the concessions invalid due to late receipt of the annual validity payments. In November 2019, Macusani applied for injunctive relief on 32 concessions in a Court in Lima, Peru and was successful in obtaining such an injunction on 17 of the concessions including three of the four concessions included in the Macusani Uranium Project PEA. The grant of the Precautionary Measure (Medida Cautelar) has restored the title, rights and validity of those 17 concessions to Macusani until a final decision is obtained at the last stage of the judicial process. A Precautionary Measure application was made at the same time for the remaining 15 concessions and was ultimately granted by a Court in Lima, Peru on March 2, 2021 which has also restored the title, rights and validity of those 15 remaining concessions to Macusani, with the result being that all 32 concessions are now protected by Precautionary Measure (Medida Cautelar) until a final decision on this matter is obtained at the last stage of the judicial process. A final date for the last stage of the judicial process has not yet been set. If American Lithium’s subsidiary Macusani does not obtain a successful resolution of the Processes, its title to the concessions could be revoked.

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

/NOT FOR DISTRIBUTION TO THE UNITED STATES/

VANCOUVER, BC, Aug. 5, 2021 /CNW/ – Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce it has increased the final tranche of the non-brokered private placement financing as announced on July 30, 2021 to 13,316,089 units at a price of $0.16 per unit for total gross process of $2,130,574.24.

Each unit consists of one common share and one transferrable common share purchase warrant (the "Warrant"). Each Warrant in this 3^rd and final tranche will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.25 per share for two years from the date of issue, expiring on August 5, 2023.

There were no finder's fees payable in this 3^rd and final tranche. In total, cash finder's fees of $49,002.80 were paid and 306,268 Finder's Warrants were issued.

Certain insiders of the Company participated in the Private Placement for $7,200 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.

The proceeds of the financing will be used for exploration programs on the Company's projects in Argentina and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to this 3^rd and final tranche of the financing are subject to a four-month hold period expiring on December 5, 2021.

About Blue Sky Uranium Corp.

Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"
______________________________________
Nikolaos Cacos, President, CEO and Director

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

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

SOURCE Blue Sky Uranium Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/05/c6951.html

Sanjeev Gupta’s under-pressure business empire has settled two disputes with major international companies, months after a major lender collapsed.

GFG Alliance said it has reached an agreement with India’s Tata Steel which will end proceedings that Tata launched against three GFG companies, including Liberty Speciality Steels, earlier this year.

According to reports from April, Tata took action against Liberty Steel due to unpaid debts linked to Liberty’s £100 million takeover of the Indian company’s speciality steel business in 2017.

GFG, which is a loose alliance of companies centred around Mr Gupta’s family’s business interests, did not provide further details on the settlement.

It has also settled a dispute with mining giant Rio Tinto linked to the company’s 2018 purchase of Rio’s Dunkirk aluminium smelter.

GFG again provided no further information on the deal.

Much remains to be done, but we believe that we are now making rapid progress in building faith with our creditors and other stakeholders through our restructuring plan

Sanjiv Gupta, GFG Alliance

Mr Gupta’s business empire has been under pressure since March when major lender Greensill Capital collapsed.

Greensill said at the time that it had billions of pounds worth of exposure to GFG Alliance.

Since then bosses at GFG have been scrambling to ensure that their companies can survive the shock of Greensill’s collapse.

On Thursday, GFG revealed that Liberty Steel’s mill in Newport, South Wales, had its best financial performance ever in the first quarter of the financial year, and that the outlook is even brighter for the second quarter.

Mr Gupta said: “The update of the RTC (Restructuring and Transformation Committee) shows that, despite the challenges, our core businesses continue to perform very well, and we are taking advantage of the excellent market conditions we face.

“Much remains to be done, but we believe that we are now making rapid progress in building faith with our creditors and other stakeholders through our restructuring plan.

“We are moving with significant momentum towards a profitable, restructured and focused business.”

VANCOUVER, British Columbia, Aug. 05, 2021 (GLOBE NEWSWIRE) — Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) has reported unaudited financial and operating results for the second quarter ended June 30, 2021.

HIGHLIGHTS

Caucharí-Olaroz

• Construction activities at Caucharí-Olaroz remain on track to achieve first production by mid-2022 on the initial 40,000 tonnes per annum (“tpa”) operation.

• As of June 30, 2021, capital expenditures committed were $545 million (85% of the $641 million budget), of which $471 million (73% of the budget) has been spent.

  • The Company’s share of the remaining capital expenditure is expected to be fully funded from available credit.

• Over 1,200 workers are on site, with over 60% of the total workforce having received at least their first dose of the COVID-19 vaccine.

• Evaporation ponds are on track to begin liming in the second half of 2021, with sufficient brine inventory to support production ramp up.

• With all major equipment on site, focus is on construction of the chemical and processing plants:

  • Solid-liquid separation plant is over 73% complete.

  • Solvent extraction (SX) plant is 65% complete.

  • Potassium chloride (KCl) plant is over 67% complete.

• In May, the Company announced in partnership with Ganfeng Lithium Co. Ltd., the approval to commence development planning for a second stage expansion of at least an additional 20,000 tpa of lithium carbonate equivalent (“LCE”).

Thacker Pass

• Results of a Feasibility Study on the first phase of Thacker Pass (for at least 30,000-35,000 tpa of lithium carbonate) (“Phase 1”) are expected by year end.

• Engineering is underway to consider a 20,000 tpa lithium hydroxide chemical conversion plant, to provide flexibility to meet potential customer and partner needs.

• The Company continues to evaluate partnership and financing opportunities for Thacker Pass to advance and de-risk the project.

• The process testing facility in Reno, Nevada, continues to operate with enhanced COVID-19 protocols in place and has produced over 30,000 kg of lithium sulphate solution.

• In February 2021, claims were filed against the Bureau of Land Management to appeal the issuance of a Record of Decision for Thacker Pass. The Company has been advised a final ruling is expected by January 2022.

• Construction remains on target to begin in early 2022, following the receipt of remaining state permits and water right transfers, and resolution of the appeal.

Corporate:

• As at June 30, 2021, the Company had $505 million in cash and cash equivalents and $156 million in undrawn credit.

• On June 10, 2021, Kelvin Dushnisky and Jinhee Magie joined the Company’s Board. Mr. Dushnisky previously served as the CEO and a member of the Board of Directors of AngloGold Ashanti Ltd. and as a President and member of the Board of Barrick Gold Corp. Ms. Magie is currently the Chief Financial Officer and Senior Vice President of Lundin Mining Corporation.

• In July 2021, the Company completed a strategic investment in Arena Minerals Inc. (TSX-V: AN) (“Arena Minerals”) of $5 million for an approximate 12.9% equity interest (14.6% on a fully diluted basis).

• The Company engaged a consultant to provide an estimate of the carbon footprint and water impact for Thacker Pass and Caucharí-Olaroz.

FINANCIAL RESULTS

Selected consolidated financial information is presented as follows:

During the six months ended June 30, 2021, total assets and cash increased primarily due to the $377.4 million net proceeds raised from the underwritten public offering of common stock, partially offset by expenditures in the period. Total long-term liabilities increased primarily as a result of drawdowns on the Company’s senior credit facility of $28.1 million.

The higher net loss in Q2 2021 compared to Q2 2020 is primarily attributable to higher Thacker Pass expenditures and $4.7 million loss on the JEMSE transaction.

Click here to view the Company’s second quarter results for 2021.

About Lithium Americas:

Lithium Americas is a development-stage company focused on advancing to production a lithium brine operation in Jujuy, Argentina and a sedimentary lithium clay project in Nevada, United States. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”.

For further information contact:

Investor Relations
Telephone: 778-656-5820
Email: ir@lithiumamericas.com
Website: www.lithiumamericas.com

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” and “forward-looking statements” (which we refer to collectively as forward-looking information) under the provisions of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking information. Examples of forward-looking information in this news release include, among other things, statements related to: successful development of the Caucharí-Olaroz project and the Thacker Pass project, including timing, progress, construction, milestones, anticipated production and results thereof; expectations and anticipated impact of COVID-19 on the Company and its mineral properties; capital expenditures and programs, and the Company’s ability to fund such programs; government regulation of mining operations and treatment under governmental and taxation regimes; the timing, amount and type of future production; expected outcome and timing of environmental surveys and analysis, permit applications and other environmental matters; expected timing and outcome of litigation concerning the Thacker Pass project; expected expenditures to be made by the Company on its properties; the timing, cost, quantity, capacity and product quality of production of the Caucharí-Olaroz project, which is held and operated through an entity in Argentina co-owned by the Company, Ganfeng Lithium Co. Ltd. (“Ganfeng”) and JEMSE; successful operation of the Caucharí-Olaroz project under the co-ownership structure, and expectations concerning proposed expansion plans for the project; results of the Company’s engineering, design and permitting program at the Thacker Pass project, including the Company meeting deadlines and receiving and maintaining permits as anticipated; timing, results and completion of a feasibility study and to make a construction decision for the Thacker Pass project; the Company’s share of the expected capital expenditures for the construction of the Caucharí-Olaroz project; Company expectations as to feasibility study activities at the Thacker Pass project; and, the potential for partnership and financing scenarios for the Thacker Pass project.

Forward-looking information is based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such information. Such information reflects the Company’s current views with respect to future events and is necessarily based upon a number of assumptions that, while considered reasonable by the Company today, are inherently subject to significant uncertainties and contingencies. These assumptions include, among others, the following: current technological trends; a cordial business relationship between the Company and Ganfeng for the Caucharí-Olaroz project; ability of the Company to fund, advance and develop the Caucharí-Olaroz project and the Thacker Pass project, and raise additional capital as needed, and the respective impacts of the projects when production commences; the Company’s ability to operate in a safe and effective manner; uncertainties relating to receiving and maintaining mining, exploration, environmental and other permits or approvals in Nevada and Argentina, and resolving any complaints or litigation concerning such environmental permitting processes; realizing on the expected benefits from previous transactions with existing or new partners, or for debt financing; demand for lithium, including that such demand is supported by growth in the electric vehicle market; the Company’s ability to produce high purity battery grade lithium products; the impact of increasing competition in the lithium business, and LAC’s competitive position in the industry; currency exchange and interest rates; general economic conditions; a stable and supportive legislative, regulatory and community environment in the jurisdictions where the Company operates; stability and inflation of the Argentinian peso, including any foreign exchange or capital controls which may be enacted in respect thereof, and the effect of current or any additional regulations on the Company’s operations; the impact of unknown financial contingencies, including litigation costs, on the Company’s operations; gains or losses, in each case, if any, from short-term investments in Argentine bonds and equities; estimates of and unpredictable changes to the market prices for lithium products; exploration, development and construction costs for the Caucharí-Olaroz project and the Thacker Pass project; the timing, cost, quantity, capacity and product quality of production at the Thacker Pass project; successful results from the Company’s testing facility and third-party tests related thereto for the Thacker Pass project; capital costs, operating costs, and sustaining capital requirements of the Caucharí-Olaroz project and the Thacker Pass project; estimates of mineral resources and mineral reserves, including whether mineral resources will ever be developed into mineral reserves; reliability of technical data; anticipated timing and results of exploration, development and construction activities, including the impact of COVID-19 on such timing; timely responses from governmental agencies responsible for reviewing and considering the Company’s permitting activities at the Thacker Pass project; the Company’s ability to obtain additional financing, including pursuant to an additional debt funding commitment, on satisfactory terms or at all; the ability to develop and achieve production at any of the Company’s mineral exploration and development properties; the impact of COVID-19 on the Company’s business; that pending patent applications are approved; the Company’s anticipated ownership interest in holdings of shares, warrants and other securities issued by third parties; accuracy of development budget and construction estimates; and preparation of a development plan and feasibility study for lithium production at the Thacker Pass project.

Forward-looking information also involves known and unknown risks that may cause actual results to differ materially. These risks include, among others, inherent risks in the development of capital intensive mineral projects (including as co-owners), variations in mineral resources and mineral reserves, global demand for lithium, recovery rates and lithium pricing, risks associated with successfully securing adequate financing, changes in project parameters and funding thereof, risks related to growth of lithium markets and pricing for products thereof, changes in legislation, governmental or community policy, changes in public perception concerning mining projects generally, political risk associated with foreign operations, permitting risk, including receipt of new permits and maintenance of existing permits, outcomes of litigation concerning the Company’s mineral properties, title and access risk, cost overruns, unpredictable weather and maintenance of natural resources, unanticipated delays, intellectual property risks, currency and interest rate fluctuations, operational risks, health and safety risks, and general market and industry conditions. Additional risks, assumptions and other factors are set out in the Company’s most recent annual management discussion analysis and annual information form, copies of which are available under the Company’s profile on SEDAR at www.sedar.com and on the SEC website at www.sec.gov.

Although the Company has attempted to identify important risks and assumptions, given the inherent uncertainties in such forward-looking information, there may be other factors that cause results to differ materially. Forward-looking information is made as of the date hereof and the Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Accordingly, readers are cautioned not to place undue reliance on such forward-looking information.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

Given this risk, we thought we'd take a look at whether Hillgrove Resources (ASX:HGO) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. Let's start with an examination of the business' cash, relative to its cash burn.

View our latest analysis for Hillgrove Resources

Does Hillgrove Resources Have A Long Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. As at December 2020, Hillgrove Resources had cash of AU$5.6m and such minimal debt that we can ignore it for the purposes of this analysis. Looking at the last year, the company burnt through AU$6.0m. So it had a cash runway of approximately 11 months from December 2020. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. The image below shows how its cash balance has been changing over the last few years.

Is Hillgrove Resources' Revenue Growing?

Given that Hillgrove Resources actually had positive free cash flow last year, before burning cash this year, we'll focus on its operating revenue to get a measure of the business trajectory. The bad news for shareholders is that operating revenue actually plummeted 82% in the last year, which is a real concern in our view. In reality, this article only makes a short study of the company's growth data. You can take a look at how Hillgrove Resources has developed its business over time by checking this visualization of its revenue and earnings history.

Can Hillgrove Resources Raise More Cash Easily?

Given its problematic fall in revenue, Hillgrove Resources shareholders should consider how the company could fund its growth, if it turns out it needs more cash. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Since it has a market capitalisation of AU$46m, Hillgrove Resources' AU$6.0m in cash burn equates to about 13% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution.

How Risky Is Hillgrove Resources' Cash Burn Situation?

Even though its falling revenue makes us a little nervous, we are compelled to mention that we thought Hillgrove Resources' cash burn relative to its market cap was relatively promising. Looking at the factors mentioned in this short report, we do think that its cash burn is a bit risky, and it does make us slightly nervous about the stock. Separately, we looked at different risks affecting the company and spotted 4 warning signs for Hillgrove Resources (of which 2 are a bit concerning!) you should know about.

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

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

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

Here are four stocks with buy rank and strong value characteristics for investors to consider today, August 5th:

Regional Management Corp. RM: This diversified consumer finance company has a Zacks Rank #1 (Strong Buy), and seen the Zacks Consensus Estimate for its current year earnings rising 6.6% over the last 60 days.

Regional Management Corp. Price and Consensus

Regional Management Corp. price-consensus-chart | Regional Management Corp. Quote

Regional Management has a price-to-earnings ratio (P/E) of 9.24, compared with 11.60 for the industry. The company possesses a Value Score of B.

Regional Management Corp. PE Ratio (TTM)

Regional Management Corp. pe-ratio-ttm | Regional Management Corp. Quote

Vale S.A. VALE: This producer and seller of iron ore and iron ore pellets has a Zacks Rank #1, and seen the Zacks Consensus Estimate for its current year earnings rising 10.6% over the last 60 days.

Vale S.A. Price and Consensus

Vale S.A. price-consensus-chart | Vale S.A. Quote

Vale has a price-to-earnings ratio (P/E) of 3.66, compared with 5.80 for the industry. The company possesses a Value Score of B.

Vale S.A. PE Ratio (TTM)

Vale S.A. pe-ratio-ttm | Vale S.A. Quote

Penn Virginia Corporation PVAC: This independent oil and gas company has a Zacks Rank #1, and seen the Zacks Consensus Estimate for its current year earnings rising more than 100% over the last 60 days.

Penn Virginia Corporation Price and Consensus

Penn Virginia Corporation price-consensus-chart | Penn Virginia Corporation Quote

Penn Virginia has a price-to-earnings ratio (P/E) of 4.33, compared with 10.90 for the industry. The company possesses a Value Score of B.

Penn Virginia Corporation PE Ratio (TTM)

Penn Virginia Corporation pe-ratio-ttm | Penn Virginia Corporation Quote

LyondellBasell Industries N.V. LYB: This chemical company has a Zacks Rank #1, and seen the Zacks Consensus Estimate for its current year earnings rising 26.6% over the last 60 days.

LyondellBasell Industries N.V. Price and Consensus

LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote

LyondellBasell Industries has a price-to-earnings ratio (P/E) of 4.88, compared with 12.70 for the industry. The company possesses a Value Score of A.

LyondellBasell Industries N.V. PE Ratio (TTM)

LyondellBasell Industries N.V. pe-ratio-ttm | LyondellBasell Industries N.V. Quote

See the full list of top ranked stocks here.

Learn more about the Value score and how it is calculated here.

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The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But when you pick a company that is really flourishing, you can make more than 100%. For instance the Zimplats Holdings Limited (ASX:ZIM) share price is 274% higher than it was three years ago. That sort of return is as solid as granite. And in the last month, the share price has gained -0.7%.

View our latest analysis for Zimplats Holdings

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

During three years of share price growth, Zimplats Holdings achieved compound earnings per share growth of 105% per year. This EPS growth is higher than the 55% average annual increase in the share price. Therefore, it seems the market has moderated its expectations for growth, somewhat. This cautious sentiment is reflected in its (fairly low) P/E ratio of 4.47.

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

It might be well worthwhile taking a look at our free report on Zimplats Holdings' earnings, revenue and cash flow.

What About Dividends?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Zimplats Holdings' TSR for the last 3 years was 426%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.

A Different Perspective

We're pleased to report that Zimplats Holdings shareholders have received a total shareholder return of 164% over one year. Of course, that includes the dividend. That's better than the annualised return of 38% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Take risks, for example – Zimplats Holdings has 1 warning sign we think you should be aware of.

We will like Zimplats Holdings better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.

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

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

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

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, Search Minerals (CVE:SMY) shareholders have done very well over the last year, with the share price soaring by 400%. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

Given its strong share price performance, we think it's worthwhile for Search Minerals shareholders to consider whether its cash burn is concerning. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

Check out our latest analysis for Search Minerals

Does Search Minerals Have A Long Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. As at May 2021, Search Minerals had cash of CA$3.2m and such minimal debt that we can ignore it for the purposes of this analysis. Looking at the last year, the company burnt through CA$2.5m. Therefore, from May 2021 it had roughly 15 months of cash runway. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. Depicted below, you can see how its cash holdings have changed over time.

How Is Search Minerals' Cash Burn Changing Over Time?

Because Search Minerals isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. With the cash burn rate up 35% in the last year, it seems that the company is ratcheting up investment in the business over time. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Admittedly, we're a bit cautious of Search Minerals due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Hard Would It Be For Search Minerals To Raise More Cash For Growth?

Given its cash burn trajectory, Search Minerals shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of CA$57m, Search Minerals' CA$2.5m in cash burn equates to about 4.4% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

So, Should We Worry About Search Minerals' Cash Burn?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Search Minerals' cash burn relative to its market cap was relatively promising. Cash burning companies are always on the riskier side of things, but after considering all of the factors discussed in this short piece, we're not too worried about its rate of cash burn. On another note, we conducted an in-depth investigation of the company, and identified 4 warning signs for Search Minerals (1 is concerning!) that you should be aware of before investing here.

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

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

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

Highlights

• Restructuring of Mkango and Talaxis’ interests in both the Songwe Hill Rare Earths Project and Maginito simplifies and optimises the Company’s ownership structure prior to delivery of the Songwe Hill Feasibility Study, and significantly enhances its growth potential:

  • Mkango to increase ownership of the Songwe Hill Rare Earths Project and of Maginito to 100% in a £13m share transaction with Talaxis

  • Mkango retains all offtake rights relating to Songwe Hill, Maginito and the 100% owned Pulawy Separation Plant project in Poland

• Complementary £5.52m fundraising at a 2.9% premium to its five-day VWAP, including a £700,000 investment by Non-Executive Chairman Derek Linfield

• Mkango is fully funded to complete the Feasibility Study for the Songwe Hill Rare Earths Project, targeted for completion in Q1 2022

• Mkango now positioned to accelerate its integrated Mine, Refine, Recycle strategy with a simplified and vertically aligned ownership structure and enhanced financial flexibility

• Strong market backdrop with accelerating demand for rare earths permanent magnets and increased focus on security of supply and recycling of rare earths

LONDON and VANCOUVER, British Columbia, Aug. 05, 2021 (GLOBE NEWSWIRE) — Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce that Mkango and Talaxis Limited (“Talaxis”), a subsidiary of Noble Group, have entered into an agreement (the “Agreement”) whereby Mkango will acquire Talaxis’ 49% interest in Lancaster Exploration Limited (“Lancaster”), which owns the Songwe Hill Rare Earths Project in Malawi (“Songwe Hill”), and Talaxis’ 24.5% interest in Maginito Limited (“Maginito”), which holds a 25% interest in rare earths magnet recycler HyProMag Limited (“HyProMag”), for 54,166,666 Mkango shares (the “Transaction”), equivalent to £13m at the Placing Price (as defined below).

Complementary to the Transaction, Mkango has conditionally raised £5.52m (£5.29m net of fees) (the “Placing”) from new and existing shareholders at a price of £0.24 (approx. C$0.42) per share (the “Placing Price”), including a proposed £700,000 investment by Non-Executive Chairman Derek Linfield.

Completion of the Placing and Transaction are subject to customary closing conditions and the approval of the TSX Venture Exchange (“TSX-V”). Completion of the Transaction and the investments proposed by Mr Linfield and Resource Early Stage Opportunities Company (“RESOC”), another related party proposing to participate in the Placing, are also subject to the approval of the independent shareholders of the Company. One additional investor has also made its participation in the Placing conditional on shareholder approval of the Transaction. Mkango has scheduled its Annual General and Special Meeting of Shareholders (the “Meeting”) to approve, amongst other things, the Transaction and the investments by Mr Linfield and RESOC, on 6 October 2021. See “Related Party Transaction, Control Person Approvals and Other Regulatory Matters” below for further discussion.

On completion of the Transaction, Mkango will own 100% of Lancaster and Maginito, in addition to its existing wholly owned interests in Mkango Polska (which is developing a rare earth separation plant in Poland) and three other exploration licences in Malawi, which includes the exciting Mchinji exploration project.

The Transaction is expected to bring significant benefits to the Mkango group, including:

• Consolidation of assets and offtake under Mkango’s control, increasing financial flexibility and underpinning the Company’s future growth strategy

  • Simplification of ownership structure enhances optionality for Songwe Hill development funding, including the potential introduction of additional strategic investors and development partners

• Restoring 100% ownership over Songwe Hill brings Mkango’s structure in line with peers, providing greater transparency for investors

• Increasing ownership of Maginito to 100% provides greater exposure to HyProMag and the rare earth recycling market, which the board expects to have substantial growth potential

• Greater integration between the mining, separation and recycling businesses, increasing synergies along the value chain

The new structure is expected to enable Talaxis to participate in any share price upside as Mkango advances its projects and gives Talaxis exposure to Mkango’s other assets, which include the Pulawy Separation Plant (the “Separation Plant”) currently undergoing feasibility studies in Poland and Mkango’s other exploration licences in Malawi.

Derek Linfield, Non-Executive Chairman of Mkango, stated: “This transaction brings material benefits to both Mkango and Talaxis and strengthens Mkango’s position as a future integrated supplier of rare earths.

Talaxis has strongly supported the advancement of Songwe Hill and Maginito since its initial investments in 2017, subsequent to which Mkango has grown downstream, adding investments in recycling (via HyProMag) and the Separation Plant in Poland. At the same time, market conditions for rare earths have improved markedly.

We believe this transaction delivers a better platform to create value and a structure more aligned with the strategies of both companies. We look forward to Talaxis’ continued support as we progress towards development of Songwe Hill and our other projects.”

Stephen Motteram, Head of Corporate Development for Noble Group, stated: “Talaxis is excited to support this reorganisation and simplification of Mkango’s corporate structure. With the increasing electrification of the global economy, Talaxis sees significant growth in the permanent magnet market, especially from EVs and wind power. This corporate reorganisation allows Talaxis to better share in the upside from Mkango’s integrated Mine, Refine, Recycle strategy, which includes the recently announced and highly attractive Pulawy Separation Plant project in Poland and Mkango’s strategic interest in rare earths magnet recycler, HyProMag. It also increases Talaxis’ exposure to Mkango’s other assets, such as the highly prospective Mchinji rutile exploration project in Malawi. We look forward to working with management as the Feasibility Study for Songwe Hill and other work streams move towards completion.”

The Transaction

Under the terms of the Transaction, on completion, Mkango will issue to Talaxis 54,166,666 common shares in Mkango (the “Consideration Shares”) at the Placing Price, comprising a total consideration of £13m. The Transaction is subject to approval by Mkango shareholders, as discussed in more detail below under “Related Party Transaction, Control Person Approvals and Other Regulatory Matters”. The Company has scheduled its Annual General and Special Meeting of Shareholders for 6 October 2021, to, amongst other things, seek such approval. In connection with and upon completion of the Transaction, existing agreements between Mkango and Talaxis will be terminated. On completion of the Transaction, amongst other things, Talaxis will no longer be required to finance the completion of a Feasibility Study for Mkango’s Songwe Hill. Talaxis’ funding obligations are currently suspended until the earlier of completion of the Transaction or the Transaction termination date of 29 October 2021.

Upon completion of the Transaction, Mkango will enter into a lock-in deed with Talaxis (“Lock-in Deed”) which will provide, amongst other things, that for so long as the Noble Group owns 10% or more of Mkango’s shares, Talaxis will be entitled to appoint a nominee to the board of the Company. Talaxis has indicated to the Company that it intends to nominate Stephen Motteram as a director to the Mkango board. Mr Motteram has 25 years’ experience in financial institutions and trading houses, specialising in project development, commodities trading, M&A, and corporate restructuring with transaction experience in Australia, China, SE Asia, Africa, South America, Russia and the Middle East. He has worked for Noble since 2011 and is currently Head of Corporate Development. Mr Motteram holds a B. Agricultural Science (Honours) from the University of Melbourne and an MBA from the Melbourne Business School and Ivey Business School. He is a Member of CPA Australia and a Graduate and Member of the Australian Institute of Company Directors. The appointment of Mr Motteram will be subject to the approval of the TSX-V and the normal due diligence exercise by the Company’s nominated adviser.

Following completion of the Transaction and the Placing, Talaxis’ shareholding in Mkango will have increased from 11.3% to 32.6%.

The Placing

Complementary to the Agreement, Mkango has conditionally raised £5.52m (£5.29m net of fees) from existing shareholders, including Derek Linfield, the Non-Executive Chairman of Mkango and new institutional investors, through the subscription for 23.0m common shares (“New Shares”) at £0.24per Mkango common share ("Share").

The issue price equates to premiums of 2.9% and 4.8% relative to the trailing five-day volume weighted average price (“VWAP”) of Mkango’s shares on the AIM and TSX-V, respectively.

The use of proceeds is intended to be used for the completion of the Feasibility Study for Songwe Hill and general corporate purposes, including for feasibility studies at Mkango Polska. Mkango’s cash position after the Placing is expected to be approximately £5.23m, with an expected additional £1.03m of funds to be received following approval of the Transaction and the placing to related parties at the Meeting.

The Placing was unanimously approved by the directors of the Company (other than Mr Linfield who was required to abstain from the vote given his participation in the Placing). Other than with respect to subscriptions being made by related parties, being RESOC and Mr Linfield, as described in more detail below, and an additional investor, the Placing is expected to close on or around 16 August, 2021 and is subject to the receipt of all necessary approvals including the approval of the TSX-V. The placing to related parties will not close until disinterested shareholder approval of such participation is obtained at the Meeting. A subscription for 350,000 New Shares as part of the Placing by an investor who has made its investment conditional on the completion of the Transaction will also not close until after, and dependent on, the approval of the Transaction at the Meeting.

The New Shares will rank pari passu with the existing Shares and application has been made for the New Shares (other than 59.6m New Shares expected to be issued after the Meeting) to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Shares (other than New Shares expected to be issued after the Meeting) will commence at 8:00am on or around 17 August, 2021. The New Shares will be subject to a statutory hold period in Canada expiring on the date that is four (4) months and one day from issuance of the New Shares, and will also be listed for trading on the TSX-V, provided that approval of such listing from the TSX-V is obtained.

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission, its issued share capital will consist of 153.6m Shares (excluding any New Shares expected to be issued after the Meeting). The Company does not hold any Shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

In connection with the Transaction, Mkango has agreed to pay, at completion of the Transaction, commissions to Bacchus Capital Advisers Limited (“BCA”) of 2% of the purchase price payable to Talaxis, equivalent to £260,000, of which half will be satisfied in Shares (issued at the Placing Price) and the other half in cash, subject to the approval of the TSX-V. In addition, Mkango has agreed to pay BCA a fee of £30,000 in connection with BCA’s review of the Transaction and advice to the board. In connection with the Placing, Mkango has agreed to pay, at completion of the Placing, commissions of up to 5% in cash and 2% in non-transferable broker warrants, in each case with reference to cash raised by each of BCA, Shard Capital Partners LLP, Alternative Resource Capital, Merlin Partners LLP and Jub Capital Management LLP. In addition, Shard Capital and Alternative Resource Capital will be entitled to a shared corporate finance fee of £5,000. The broker warrants will have a term of 12 months from issue and an exercise price of £0.24. The total number of broker warrants to be issued on completion of the Placing is 239,315. Payment of the commissions (and issuance of the warrants) to the brokers is subject to acceptance of the TSX-V. The Shares issuable pursuant to exercise of the broker warrants will be subject to a statutory hold period in Canada expiring on the date that is four (4) months and one day from issuance of the warrants. SP Angel Corporate Finance LLP, the Company’s nominated advisor, will be paid a fee of £7,500 for corporate finance advice to the Board in relation to the Transaction and the Placing.

Lock-In Deed

Under the Lock-In Deed, Talaxis will agree that for so long as it holds 10% or more of the Company’s Shares, it will not, during the first 12 months following completion of the Transaction, sell or transfer any of its Shares, other than pursuant to certain limited exceptions. For the second 12 months following Completion, Talaxis will agree to an orderly market arrangement. Also, under the Lock-in Deed, Mkango will agree that for so long as Talaxis holds 10% or more of the Company’s Shares, it will not issue, transfer or pledge any new Shares in Lancaster or Maginito to any party who is not an affiliate of the Company without the consent of Talaxis, provided that Mkango will be permitted to pledge the Shares held by it in Lancaster and/or Maginito where the Company, Lancaster, Maginito or any other subsidiary of the Company wishes to raise project or other forms of debt finance.

Related Party Transaction, Control Person Approvals and Other Regulatory Matters

Talaxis is currently the holder of approximately 11.3% of the issued and outstanding Shares of Mkango. As such, Talaxis is a Non-Arm’s Length Party pursuant to applicable rules of the TSX-V, as well as a “related party” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Pursuant to MI 61-101, the Transaction is subject to disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by Talaxis, its affiliates and joint actors).

The Company is exempt from the formal valuation requirement of MI 61-101 in respect of the Transaction pursuant to section 5.5(b) of MI 61-101 – Issuer not Listed on Specified Markets, as no securities of the Company are listed or quoted on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ Stock Market, or a stock exchange outside of Canada and the United States other than the AIM market of the London Stock Exchange.

Following the issuance to Talaxis of the Consideration Shares, Talaxis will own 69.5m Shares, representing an interest of approximately 32.6% of the issued and outstanding Shares of the Company. As a result of it owning 20% or more of Mkango’s Shares, Talaxis will constitute a “Control Person” (as defined in the TSXV Corporate Finance Manual). The issuance of the Consideration Shares therefore requires disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by Talaxis, its affiliates and joint actors), which will be sought at the Meeting.

The Placing is integral to the Transaction and therefore the Company intends to rely on the “part and parcel pricing exception” provided for in the policies of the TSX-V.

RESOC has agreed to subscribe for 1,666,666 Shares pursuant to the Placing (“RESOC Investment”). As of the date hereof, and prior to completion of the Placing, RESOC owns 14,333,081 Shares, representing approximately 10.6% of the issued and outstanding Shares. As a result of owning 10% or more of the Shares, RESOC constitutes a “related party” of Mkango (as defined in MI 61-101) and is a Non Arm’s Length Party pursuant to applicable rules of the TSX-V. Pursuant to MI 61-101, the RESOC Investment is subject to disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by RESOC, its affiliates and joint actors). This approval will be sought at the Meeting.

The Chairman of the Company, Derek Linfield, has agreed to subscribe for 2,916,666 Shares pursuant to the Placing. As of the date hereof, and prior to completion of the Placing, Mr Linfield owns 5,139,561 Shares, representing approximately 3.8% of the issued and outstanding Mkango shares. As a result of being a director of Mkango, Mr Linfield is a “related party” of Mkango (as defined in MI 61-101) and a Non-Arm’s Length Party pursuant to applicable rules of the TSX-V (as defined in MI 61-101). Pursuant to MI 61-101, the investment by Mr Linfield is subject to disinterested shareholder approval (i.e., approval by a majority of votes cast at the Meeting, excluding any Shares held by Mr Linfield, his affiliates and joint actors). This approval will be sought at the Meeting.

Related party transactions under the AIM Rules for Companies (the “AIM Rules”)

Talaxis is a substantial shareholder in Mkango under the AIM Rules and is therefore regarded as a related party under the AIM Rules. As a result, the Transaction is a related party transaction for the purposes of Rule 13 of the AIM Rules. The directors of Mkango, consider, having consulted with SP Angel Corporate Finance LLP, the Company’s nominated adviser, that the terms of the Transaction are fair and reasonable insofar as the Company’s shareholders are concerned.

As Derek Linfield is a director of the Company, his participation in the Placing also constitutes a related party transaction pursuant to Rule 13 of the AIM Rules. The directors of Mkango, other than Derek Linfield, consider, having consulted with SP Angel Corporate Finance LLP, the Company’s nominated adviser, that the terms of Mr Linfield’s participation in the Placing are fair and reasonable insofar as the Company’s shareholders are concerned.

RESOC is also a substantial shareholder in Mkango and therefore a related party under the AIM Rules and its participation in the Placing is a related party transaction under Rule 13 of the AIM Rules. The directors of Mkango, other than Derek Linfield who is participating in the Placing, consider, having consulted with SP Angel Corporate Finance LLP, the Company’s nominated adviser, that the terms of RESOC’s participation in the Placing are fair and reasonable insofar as the Company’s shareholders are concerned.

About Mkango

Mkango’s corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean technologies. This integrated Mine, Refine, Recycle strategy differentiates Mkango from its peers, uniquely positioning the Company in the rare earths sector.

Mkango is developing Songwe Hill in Malawi with a Feasibility Study targeted for completion in Q1 2022. Malawi is known as “The Warm Heart of Africa”, a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.

In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland’s leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland. The Separation Plant will process the purified mixed rare earth carbonate produced at Songwe.

Through its ownership of Maginito (www.maginito.com), Mkango is also developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies. Maginito holds a 25% interest in UK rare earth (NdFeB) magnet recycler, HyProMag (www.hypromag.com) with an option to increase its interest to 49%.

Mkango also has an extensive exploration portfolio in Malawi, including the Mchinji rutile discovery, for which assay results are pending, in addition to the Thambani uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.

For more information, please visit www.mkango.ca.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango, its business, the Plant and Songwe. Generally, forward looking statements can be identified by the use of words such as “plans”, “expects” or “is expected to”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, Shareholder approval of the Transaction and the investments by related parties, TSX-V approval of the Transaction and the Placing, settlement risk with respect to the Placing, governmental action relating to COVID-19, COVID-19 and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, factors relating the development of the Separation Plant, including the outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and operating the Separation Plant, changes in economics and government regulation, the positive results of a feasibility study on Songwe Hill and delays in obtaining financing or governmental approvals for, and the impact of environmental and other regulations relating to, Songwe Hill and the Separation Plant. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

For further information on Mkango, please contact:

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

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

St. Paul, Minnesota–(Newsfile Corp. – August 5, 2021) – PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) has filed its financial results for the three and six months ended June 30, 2021.

During the period, the company secured funding to advance optimization and engineering efforts related to the NorthMet Project and to continue legal defense of its permits.

Of the more than 20 permits issued to build and operate the mine, four permits remain on hold pending active legal or regulatory action. More information on recent court developments can be found on the company's website at www.polymetmining.com/investors/news and in its filings found under the company's SEDAR and EDGAR profiles at www.sedar.com and www.sec.gov, respectively. The company anticipates that ongoing litigation will continue to at least year-end 2021.

On July 15, 2021, the company issued to Glencore an unsecured convertible debenture in the amount of $10.0 million. The debenture is due on the earlier of March 31, 2023, or upon US$100 million of project financing. Interest will accrue on the unsecured debenture at 4% per annum and the principal amount of the debenture is convertible into common shares of the company at a conversion price equal to $3.4550.

Key Balance Sheet Statistics
(in '000 US dollars)

¹ Deficiency primarily due to the $17.2 million promissory note with Glencore being due December 31, 2021. Glencore has committed to provide financial support to enable the Company to continue its business operations for the next twelve months.

Key Income and Cash Flow Statement Statistics
(in '000 US dollars, except per share amounts)

• Loss for the three months ended June 30, 2021, was $5.1 million compared with $6.0 million for the prior year period. The decreased loss was primarily due to reduced spend on studies and evaluation of the mineral resource.

• Loss for the six months ended June 30, 2021, was $8.8 million compared with $13.5 million for the prior year period. The decreased loss was primarily due to reduced spend on studies and evaluation of the mineral resource, investment gains from restricted deposits, and non-cash gains from fair valuing financial assets.

• Capital expenditures for the three months ended June 30, 2021, was $1.9 million which was consistent with the prior year.

• Capital expenditures for the six months ended June 30, 2021, was $3.6 million compared with $4.8 million for the prior year. The decrease was due to lower capitalized spend following receipt of permits in March 2019 as the company awaits resolution of legal challenges to permits.

The financial statements have been filed at www.polymetmining.com and on SEDAR and EDGAR and have been prepared in accordance with International Financial Reporting Standards. All amounts are in U.S. dollars. Copies can be obtained free of charge by contacting the company at 444 Cedar Street, Suite 2060, St. Paul, MN 55101, or by e-mail at info@polymetmining.com. Project developments described above are derived from these documents and should be read in conjunction with them.

* * * * *

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

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

For further information, please contact:

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

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

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

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92230

ROUYN-NORANDA, Quebec, Aug. 05, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that Globex has purchased 100% interest in a block of claims in Rouyn and Joannes townships, Quebec (NTS 32D02) approximately 10 km east of Rouyn-Noranda herein called the Rouyn Merger property. The property consists of 49 claims totaling 1,509.4 hectares (3,729.8 acres) covering approximately 6.5 kilometres (4.04 miles) of the prolific, gold localizing Cadillac Break. The vender, IAMGOLD Corporation (IMG–TSX), received 183,000 Globex shares subject to a 4 month hold period and a 1% Net Smelter Royalty.

The Rouyn Merger property includes several areas of known gold mineralization including the Rouyn Merger, O’Neil-Thompson and East O’Neil zones which have seen historical drilling to relatively shallow depth, outlining in some cases significant but erratic gold vein structures at or near the gold localizing Cadillac Break.

The Cadillac Break is one of the most important gold localizing structures in the Abitibi of Quebec and Ontario with numerous gold deposits located along its length. The Rouyn Merger property has been explored intermittently since the 1930’s when the Rouyn Merger gold deposit was found. Various non-compliant resource calculations have been undertaken on the Rouyn Merger gold zone but, due to the structural complexity of the ore lenses and expected high levels of dilution, production has been limited to a brief period in 1948-1949 of 32,198 t grading 3.87 g/t Au. Metallurgical testing between 1943 and 1947 indicated 95% gold recovery by treating ore crushed to 60% minus 200 mesh. Likewise, exploration on the O’Neil-Thompson gold zone outlined a non NI 43-101 compliant resource and limited production in 1936 of 2,449 tonnes. Other occurrences such as the East O’Neil have published but unverifiable resources.

The most recent work on the property was in 2015-16 during which an aeromag survey was flown, mapping and surface sampling undertaken and seven drill holes completed totaling 1,956 metres in three target areas. Several holes intersected significant gold values, such as Hole RM15-05 which returned 16.0 g/t Au over 1 metre from 277.5 to 278.5 m followed by 4.19 g/t Au over 0.5 m from 278.5 m to 279.0 m. The target of this exploration was to locate a large tonnage, low grade, bulk mineable gold deposit not higher grade underground minable, narrower vein deposits historically mined along the Cadillac Break.

Prior to acquiring the property, Globex undertook 3D modeling of all the readily available geological, geophysical and drill data. The modeling has allowed Globex to identify a number of priority areas for drilling many at shallow depth but others at mid-level depths of 500 metres and below. Although the area was flown as recently as 2015 with an aeromagnetic survey, Globex believes that the details provided by closely spaced lines using the Novatem aeromagnetic system may unlock a better understanding of the geological trends and structures and Globex intends to undertake such a survey over the entire property but at a different angle than the previous survey in order to merge such data with our 3D modeling.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

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

NEW YORK, NY / ACCESSWIRE / August 5, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

RKT Shareholders Click Here: https://www.zlk.com/pslra-1/rocket-companies-inc-loss-submission-form?prid=18249&wire=1
BZ Shareholders Click Here: https://www.zlk.com/pslra-1/kanzhun-limited-information-request-form?prid=18249&wire=1
PLL Shareholders Click Here: https://www.zlk.com/pslra-1/piedmont-lithium-inc-loss-submission-form?prid=18249&wire=1

* ADDITIONAL INFORMATION BELOW *

Rocket Companies, Inc. (NYSE:RKT)

RKT Lawsuit on behalf of: investors who purchased February 25, 2021 – May 5, 2021
Lead Plaintiff Deadline : August 30, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/rocket-companies-inc-loss-submission-form?prid=18249&wire=1

According to the filed complaint, during the class period, Rocket Companies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Rocket's gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket's Partner Network operating segment; (c) the adverse trends identified above were accelerating and, as a result, Rocket's gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (d) as a result of the above, the favorable market conditions that had preceded the Class Period and allowed Rocket to achieve historically high gain on sale margins had vanished as the Company's gain on sale margins had returned to levels not seen since the first quarter of 2019; (e) rather than remaining elevated due to surging demand, Rocket's Company-wide gain-on-sale margins had fallen materially below recent historical averages; and (f) as a result of the foregoing, defendants' positive statements about the Company's business operations and prospects were materially misleading and/or lacked a reasonable basis.

Kanzhun Limited (NASDAQ:BZ)

BZ Lawsuit on behalf of: investors who purchased June 11, 2021 – July 2, 2021
Lead Plaintiff Deadline : September 10, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/kanzhun-limited-information-request-form?prid=18249&wire=1

According to the filed complaint, during the class period, Kanzhun Limited made materially false and/or misleading statements and/or failed to disclose that: (1) Kanzhun would face an imminent cybersecurity review by the Cyberspace Administration of China ("CAC"); (2) the CAC would require Kanzhun to suspend new user registration on its BOSS Zhipin app; (3) Kanzhun needed to "to conduct a comprehensive examination of cybersecurity risks"; (4) Kanzhun needed to "enhance its cybersecurity awareness and technology capabilities"; 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.

Piedmont Lithium Inc. (NASDAQ:PLL)

PLL Lawsuit on behalf of: investors who purchased March 16, 2018 – July 19, 2021
Lead Plaintiff Deadline : September 21, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/piedmont-lithium-inc-loss-submission-form?prid=18249&wire=1

According to the filed complaint, during the class period, Piedmont Lithium Inc. made materially false and/or misleading statements and/or failed to disclose 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' public statements were materially false and/or misleading at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

View source version on accesswire.com:
https://www.accesswire.com/658517/CLASS-ACTION-UPDATE-for-RKT-BZ-and-PLL-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

TORONTO, Aug. 5, 2021 /CNW/ – Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended June 30, 2021. Both documents will be available on the Company's website at www.denisonmines.com or on SEDAR (at www.sedar.com) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. PDF Version

David Cates, President and CEO of Denison commented, "The Company continues to successfully advance on its ambition of developing the high-grade Phoenix deposit, as potentially one of the lowest cost uranium mines in the world, at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle.

Thus far in 2021, our corporate team has bolstered our balance sheet with our recent financings and uranium purchases, consolidated a further 5% ownership in our flagship Wheeler River project through our acquisition of 50% of JCU, and completed the transition of Uranium Participation Corp. to the Sprott Physical Uranium Trust. On the technical side, in relation to our progress at Phoenix, we have reported several positive updates on ISR field testing activities, metallurgical studies in support of the ISR mining method, and the discovery of additional high-grade uranium in the area of our expected first mining phase. Taken together, we believe that Denison is well positioned to continue de-risking the use of the ISR mining method at Phoenix and ultimately compete with the incumbent uranium producers in the coming years when the market needs additional sources of production.

Our focus for the remainder of 2021 is expected to be in the field, where we plan to be active on both the evaluation and exploration front. Our evaluation team is preparing for full-scale pump and injection tests as well as ion tracer tests at Phoenix, making use of the commercial-scale 5-spot test pattern installed earlier this year. Our exploration team is also readying to resume drill testing of various target areas at Wheeler River and nearby properties that are prospective for the discovery of additional potentially ISR amenable uranium resources. With results from these programs expected through the third and fourth quarter, it is an exciting time for investors to follow both the uranium market and Denison's company-specific activities closely."

HIGHLIGHTS

• In-Situ Recovery ('ISR') field test activities at the Phoenix uranium deposit ('Phoenix') progress

A substantial portion of the ISR field test program has been successfully completed, including the installation of all five commercial-scale wells ('CSWs') and nine of eleven monitoring wells ('MWs') planned for the 5-spot test pattern (the 'Test Pattern') located in the Phase 1 area of Phoenix on the Company's Wheeler River Uranium Project ('Wheeler River' or the 'Project'). Based on the progress to date, multi-day pump and injection tests and ion tracer tests are planned to be initiated and completed on the full-scale Test Pattern during the third quarter.

• Discovered high-grade uranium outside of the Phoenix Zone A high-grade domain

Drill hole GWR-045 was completed as part of the ISR field test program to install MWs to the northwest of the CSW Test Pattern. Based on the mineral resources currently estimated for Phoenix, GWR-045 was expected to intersect low grade uranium mineralization on the northwest margin of the deposit, approximately 5 metres outside of the boundary of the Phoenix Zone A high-grade resource domain. The drill hole, however, intersected a thick interval of high-grade unconformity-associated uranium mineralization with grades of 22.0% eU₃O₈ over 8.6 metres. The intersection is presently open further to the northwest and represents an area for further exploration and potential mineral resource expansion of Phoenix.

• Decision to increase anticipated ISR mining head grade at Phoenix by 50%

Positive interim results, completed to date, from the ongoing metallurgical test program for the planned ISR mining operation at Phoenix have consistently supported uranium bearing solution ('UBS') head-grade for Phoenix well in excess of the 10 grams / Litre used in the Pre-Feasibility Study ("PFS") completed for Wheeler River in 2018. Accordingly, the Company has decided to adapt its plans for the remaining metallurgical test work, including the bench-scale tests of the unit operations of the proposed process plant, to reflect a 50% increase in the head-grade of UBS to be recovered from the well-field.

• Completed acquisition of 50% of JCU (Canada) Exploration Company, Limited ('JCU') for $20.5 million

In June 2021, Denison announced that it had entered into a binding agreement with UEX Corporation ('UEX') to acquire 50% of JCU from UEX for cash consideration of $20.5 million following UEX's acquisition of 100% of JCU from Overseas Uranium Resources Development Co., Ltd. for $41 million. Denison's acquisition of 50% of JCU was completed on August 3, 2021. JCU holds a portfolio of 12 uranium project joint venture interests in Canada, including a 10% interest in Wheeler River, a 30.099% interest in the Millennium project (Cameco Corporation 69.901%), a 33.8123% interest in the Kiggavik project (Orano Canada Inc. ('Orano Canada') 66.1877%), and a 34.4508% interest in the Christie Lake project (UEX 65.5492%).

• Received $5.8 million in connection with conversion of Uranium Participation Corporation ('UPC') into the Sprott Physical Uranium Trust

In April 2021, UPC announced that it had reached an agreement with Sprott Asset Management LP ('Sprott') to convert UPC into the Sprott Physical Uranium Trust. Upon completion of this transaction on July 19, 2021, Sprott became the manager of the Sprott Physical Uranium Trust, and the management services agreement ('MSA') between Denison and UPC was terminated. In accordance with the terms of the MSA, Denison received a cash payment of approximately $5.8 million in connection with the termination.

About Wheeler River

Wheeler River is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan and is a joint venture between Denison and Denison's 50%-owned JCU (Canada) Exploration Company Limited. Denison is the operator of the project and holds an effective 95% ownership interest. The project is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively, estimated to have combined Indicated Mineral Resources of 132.1 million pounds U₃O₈ (1,809,000 tonnes at an average grade of 3.3% U₃O₈), plus combined Inferred Mineral Resources of 3.0 million pounds U₃O₈ (82,000 tonnes at an average grade of 1.7% U₃O₈).

The PFS was completed in late 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U₃O₈ over a 14-year mine life, with a base case pre-tax net present value ('NPV') of $1.31 billion (8% discount rate), Internal Rate of Return ('IRR') of 38.7%, and initial pre-production capital expenditures of $322.5 million. The Phoenix ISR operation is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry leading average operating costs of US$3.33/lb U₃O₈. The PFS was prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the Wheeler River Joint Venture are subject to different tax and other obligations.

Further details regarding the PFS, including additional scientific and technical information, as well as after-tax results attributable to Denison's ownership interest, are described in greater detail in the NI 43-101 Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018. A copy of this report is available on Denison's website and under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

Given the social, financial and market disruptions related to COVID-19, and certain fiscally prudent measures, Denison temporarily suspended certain activities at Wheeler River starting in April 2020, including the formal parts of the EA program, which is on the critical path to achieving the project development schedule outlined in the PFS Technical Report. While the formal EA process has resumed in early 2021, the Company is not currently able to estimate the impact to the project development schedule, outlined in the PFS Technical Report, and users are cautioned that certain of the estimates provided therein, particularly regarding the start of pre-production activities in 2021 and first production in 2024 should not be relied upon.

About Denison

Denison Mines Corp. was formed under the laws of Ontario and is a reporting issuer in all Canadian provinces. Denison's common shares are listed on the Toronto Stock Exchange (the 'TSX') under the symbol 'DML' and on the NYSE American exchange under the symbol 'DNN'.

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its flagship Wheeler River uranium project, Denison's interests in Saskatchewan include a 22.5% ownership interest in the McClean Lake Joint Venture ('MLJV'), which includes several uranium deposits and the McClean Lake uranium mill, which is contracted to process the ore from the Cigar Lake mine under a toll milling agreement (see RESULTS OF OPERATIONS below for more details), plus a 25.17% interest in the Midwest deposits and a 66.90% interest in the Tthe Heldeth Túé ('THT', formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill. In addition, Denison has an extensive portfolio of exploration projects in the Athabasca Basin region.

Through its 50% ownership of JCU, Denison also holds interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%).

Denison is engaged in mine decommissioning and environmental services through its Closed Mines group, which manages Denison's Elliot Lake reclamation projects and provides post-closure mine and maintenance services to a variety of industry and government clients.

Up until July 19, 2021, Denison also served as the manager of UPC. UPC was a publicly traded company listed on the TSX, which invested in uranium oxide in concentrates ('U₃O₈') and uranium hexafluoride ('UF₆'). In April, 2021, UPC announced that it had entered into an agreement with Sprott to convert UPC into the Sprott Physical Uranium Trust. This transaction closed on July 19, 2021, and the MSA between Denison and UPC was terminated.

Technical Disclosure and Qualified Person

The technical information contained in this press release has been reviewed and approved by David Bronkhorst, P.Eng, Denison's Vice President, Operations and/or Andrew Yackulic, P. Geo, Denison's Director, Exploration, each of whom is a Qualified Person in accordance with the requirements of NI 43-101.

Follow Denison on Twitter: @DenisonMinesCo

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Certain information contained in this press release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this press release contains forward-looking information pertaining to the following: projections with respect to use of proceeds of recent financings; exploration, development and expansion plans and objectives, including the plans and objectives for Wheeler River and the related evaluation field program activities and exploration objectives; the plans for metallurgical test work; the impact of COVID-19 on Denison's operations; the estimates of Denison's mineral reserves and mineral resources or results of exploration; expectations regarding Denison's joint venture ownership interests; expectations regarding the continuity of its agreements with third parties; and its interpretations of, and expectations for, nuclear energy and uranium demand. Statements relating to 'mineral reserves' or 'mineral resources' are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the results and underlying assumptions and interpretations of the PFS as well as de-risking efforts such as the 2021 Field Program discussed herein may not be maintained after further testing or be representative of actual conditions within the applicable deposits. In addition, Denison may decide or otherwise be required to extend the EA and/or otherwise discontinue testing, evaluation and development work if it is unable to maintain or otherwise secure the necessary approvals or resources (such as testing facilities, capital funding, etc.). Denison believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 26, 2021 under the heading 'Risk Factors'. These factors are not, and should not be, construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this press release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

Cautionary Note to United States Investors Concerning Estimates of Mineral Resources and Mineral Reserves: This press release may use terms such as "measured", "indicated" and/or "inferred" mineral resources and "proven" or "probable" mineral reserves, which are terms defined with reference to the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") CIM Definition Standards on Mineral Resources and Mineral Reserves ("CIM Standards"). The Company's descriptions of its projects using CIM Standards may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. . United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

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SOURCE Denison Mines Corp.

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Vancouver, British Columbia–(Newsfile Corp. – August 5, 2021) – Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce that the diamond drill program is now underway at the Kliyul copper-gold porphyry project ("Kliyul" or "Project"), located in the prolific Quesnel Trough in Northwest British Columbia (see Figure 1). The Company plans to drill a minimum of 2,500 metres testing the Kliyul Main Zone ("KMZ") and two newly defined adjacent targets, Kliyul East and Kliyul West.

Limited historical drilling at Kliyul returned significant copper-gold porphyry mineralization, drill hole KLI-15-34 intercepted 245 metres of 0.75% CuEQ¹ (see Pacific Ridge news release dated December 2, 2020). Based on historical drilling (see Table 1), alteration and lithogeochemical indicators from surface exposures, as well as magnetics and IP surveys, Pacific Ridge believes that there is excellent potential to significantly expand the mineralized footprint at Kliyul, laterally and to depth.

"Kliyul represents an excellent opportunity to make a new copper-gold porphyry discovery," said Blaine Monaghan, President and CEO of Pacific Ridge. "Our exploration team and Technical Advisory Committee have done an outstanding job compiling and interpreting all of the data and selecting drill targets. I look forward to reporting the drill results to shareholders."

Figure 1: Location of Kliyul

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5460/92159_e0bc51f3848c88e2_001full.jpg

In addition to drilling, the 2021 exploration program at Kliyul will include geological mapping and sampling, a high resolution airborne magnetic survey and additional IP surveying over the Bap Ridge and M39 Zone targets, south of the Main Zone (see Figure 2).

Figure 2: Kliyul Target Areas

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About the Kliyul Project

Over 60 square kilometres in size, Kliyul is located 50 km southeast of Centerra Gold Inc's Kemess mine and 5 km from the Omineca mining road in one of the most geochemically anomalous areas for copper and gold in the Quesnel Terrane. The Project contains four main target areas: KMZ, Bap Ridge, Ginger and M39, each representing an interpreted porphyry centre over a 4 km strike length. KMZ is the most intensely explored of these, with 33 drill holes (5,524 m) drilled since 1974, most of which targeted a near-surface copper-gold magnetite zone (drill holes KL-5 to KL-93-5). Deeper drilling in 2006 and 2015 encountered a porphyry copper-gold system (drill holes KL-06-30 to KL-15-35). See Table 1 (Selected historical drill results) and Figure 3 (Plan view of 2021 drill targets) for further information.

Table 1: Selected historical drill results

*CuEQ = ((Cu(%) x $2.25 x 22.0642) + (Au(gpt) x $1,650 x 0.032151)) / ($2.25 x 22.0642)
*AuEQ = ((Cu(%) x $2.25 x 22.0642) + (Au(gpt) x $1,650 x 0.032151)) / ($1,650 x 0.032515)

Figure 3 : Plan view of 2021 drill targets and selected historical drill results

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https://orders.newsfilecorp.com/files/5460/92159_e0bc51f3848c88e2_003full.jpg

The Project displays classic copper-gold porphyry alteration and mineralization patterns. Geological interpretation, supported by a variety of geophysical surveys, including IP, magnetics and magnetotellurics, suggest the potential to significantly expand the size of the Kliyul mineralized system, including the main porphyry mineralizer.

Pacific Ridge has the right to earn a 51% interest in the Kliyul and Redton projects from Aurico Metals Inc., a wholly owned subsidiary of Centerra Gold Inc., by making cash payments totaling $100,000, issuing 2.0 million shares and spending $3.5 million on exploration by December 31, 2023. The Company then has the right to increase its interest in the properties to 75% by making additional payments totaling $60,000, issuing 1.5 million shares and completing an additional $3.5 million in exploration by December 31, 2025.

About Pacific Ridge

Our goal is to become one of the leading copper-gold exploration companies in British Columbia. Pacific Ridge's flagship project is the Kliyul copper-gold project, located in the Quesnel Trough, approximately 50 km southeast of Centerra Gold's Kemess mine. In addition to Kliyul, the Company's project portfolio includes the RDP copper-gold project and the Redton copper-gold project, both located in British Columbia. Pacific Ridge will continue to search for projects that offer discovery opportunity in our regions of expertise.

On behalf of the Board of Directors,

"Blaine Monaghan"

Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.

Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-
https://twitter.com/PacRidge_PEX

Investor Contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
Email: ir@pacificridgeexploration.com

¹Copper equivalent (CuEQ) is equal to ((Cu (per cent) multiplied by $2.25 multiplied by 22.0642) plus (Au (g/t) multiplied by $1,650 multiplied by 0.032151)) divided by ($2.25 multiplied by 22.0642).

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

The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., Executive Chairman of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.

Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding expanding the mineralized footprint at Kliyul, laterally and to depth, and the opportunity to make a new copper-gold porphyry discovery. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92159

(Adds details on sale, background)

Aug 5 (Reuters) – Australian gold miner Resolute Mining Ltd said on Thursday it would sell its Bibiani mine in Ghana to Canada's Asante Gold Corp for $90 million.

The sale comes months after China's Chifeng Jilong Gold Mining cancelled a deal to buy the mine, saying it had not received timely information about the termination of a mining lease.

Resolute Mining shares rose 4.5% to A$0.58 in early trade.

The deal had been approved by Ghana's minister of lands and natural resources and is expected to be completed in the next 10 days, Resolute Mining said in a statement.

The Australian miner, which had acquired Bibiani in 2014, and also operates the Syama gold mine in Mali and the Mako gold mine in Senegal, said it would use $30 million of the proceeds to repay debt. (Reporting by Tejaswi Marthi; Editing by Rashmi Aich)

McEwen (MUX) came out with a quarterly loss of $0.01 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this gold and silver mining company would post a loss of $0.02 per share when it actually produced a loss of $0.03, delivering a surprise of -50%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

McEwen, which belongs to the Zacks Mining – Miscellaneous industry, posted revenues of $40.71 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 1.26%. This compares to year-ago revenues of $18.29 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

McEwen shares have added about 22.8% since the beginning of the year versus the S&P 500's gain of 17.8%.

What's Next for McEwen?

While McEwen has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for McEwen was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.01 on $39.4 million in revenues for the coming quarter and -$0.08 on $143.95 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Miscellaneous is currently in the bottom 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

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McEwen Mining Inc. (MUX) : Free Stock Analysis Report
 
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Wall Street expects a year-over-year decline in earnings on lower revenues when Pretium Resources (PVG) reports results for the quarter ended June 2021. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 12. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This gold mining company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -53.9%.

Revenues are expected to be $136.3 million, down 18.2% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Pretium Resources?

For Pretium Resources, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #5.

So, this combination makes it difficult to conclusively predict that Pretium Resources will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Pretium Resources would post earnings of $0.21 per share when it actually produced earnings of $0.14, delivering a surprise of -33.33%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Pretium Resources doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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Pretium Resources, Inc. (PVG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

A look at the shareholders of Pretium Resources Inc. (TSE:PVG) can tell us which group is most powerful. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Companies that used to be publicly owned tend to have lower insider ownership.

Pretium Resources has a market capitalization of CA$2.2b, so we would expect some institutional investors to have noticed the stock. In the chart below, we can see that institutional investors have bought into the company. Let's delve deeper into each type of owner, to discover more about Pretium Resources.

View our latest analysis for Pretium Resources

What Does The Institutional Ownership Tell Us About Pretium Resources?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in Pretium Resources. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Pretium Resources' earnings history below. Of course, the future is what really matters.

Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. We note that hedge funds don't have a meaningful investment in Pretium Resources. Our data shows that Van Eck Associates Corporation is the largest shareholder with 10% of shares outstanding. With 5.0% and 4.3% of the shares outstanding respectively, Morgan Stanley, Investment Banking and Brokerage Investments and Letko, Brosseau & Associates Inc. are the second and third largest shareholders.

A closer look at our ownership figures suggests that the top 19 shareholders have a combined ownership of 50% implying that no single shareholder has a majority.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of Pretium Resources

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

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

Our data suggests that insiders own under 1% of Pretium Resources Inc. in their own names. Keep in mind that it's a big company, and the insiders own CA$1.3m worth of shares. The absolute value might be more important than the proportional share. Arguably, recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling.

General Public Ownership

The general public holds a 27% stake in Pretium Resources. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important.

I like to dive deeper into how a company has performed in the past. You can find historic revenue and earnings in this detailed graph.

If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.

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

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

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

Albemarle Corporation ALB recorded a profit of $424.6 million or $3.62 per share in the second quarter of 2021, up from $85.6 million or 80 cents per share it earned a year ago. The bottom line in the reported quarter includes a gain on the sale of the Fine Chemistry Services business.

Adjusted earnings for the reported quarter were 89 cents per share, up from 86 cents a year ago. It topped the Zacks Consensus Estimate of 83 cents.

Revenues rose roughly 1% year over year to $773.9 million in the quarter. It missed the Zacks Consensus Estimate of $787.1 million. The top line was aided by higher sales from the company's Lithium and Bromine business segments.

Albemarle Corporation Price, Consensus and EPS Surprise

Albemarle Corporation price-consensus-eps-surprise-chart | Albemarle Corporation Quote

Segment Highlights

Sales from the Lithium unit rose around 13% year over year to $320.3 million in the reported quarter, aided by higher volumes (up 17%) that more than offset lower pricing. Prices fell 4% due to lower carbonate and technical grade product pricing. Adjusted EBITDA was up roughly 16% year over year to $109.4 million, aided by higher sales.

The Bromine Specialties segment recorded sales of $279.7 million, up around 20% year over year. Sales were supported by higher demand for products across the portfolio and improved volumes and pricing. Adjusted EBITDA was $92.6 million, up around 27% year over year. The company’s cost-savings initiatives and pricing offset higher raw materials costs.

The Catalysts unit recorded revenues of $148.3 million in the reported quarter, down around 25% year over year, hurt by lower volumes. Prices were flat in the quarter. Fluid Catalytic Cracking volumes fell modestly, impacted by a change in order patterns from a large North American customer. Adjusted EBITDA was $21.2 million, down roughly 7% year over year, impacted by lower sales.

Financial Position

Albemarle ended the quarter with cash and cash equivalents of roughly $823.6 million, up around 12% year over year. Long-term debt was $2,043.8 million, down around 35% year over year.

Cash flow from operations was $385.9 million for the six months ended Jun 30, 2021, up around 86% year over year.

Outlook

Moving ahead, Albemarle expects its performance for full-year 2021 to improve modestly on a year-over-year basis on a sustained recovery in global economic activities.

The company expects net sales for 2021 to be between $3.2 billion and $3.3 billion. It sees higher Lithium sales and improving trends in Catalysts. However, expectations for the Bromine business are reduced due to an increase in raw material costs and supply chain disruptions.

Moreover, Albemarle now sees adjusted earnings per share for 2021 in the band of $3.35-$3.70, up from its prior view of $3.25 to $3.65.

Price Performance

Albemarle’s shares are up 133.5% over a year compared with a 34.9% rise of its industry.

Image Source: Zacks Investment Research

Zacks Rank & Key Picks

Albemarle currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks worth considering in the basic materials space include Nucor Corporation NUE, ArcelorMittal MT and Cabot Corporation CBT, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Nucor has a projected earnings growth rate of 422.2% for the current year. The company’s shares have surged around 141% in a year.

ArcelorMittal has an expected earnings growth rate of 1,683.1% for the current year. The company’s shares have shot up around 186% in the past year.

Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have gained roughly 38% in the past year.

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ArcelorMittal (MT) : Free Stock Analysis Report

Nucor Corporation (NUE) : Free Stock Analysis Report

Albemarle Corporation (ALB) : Free Stock Analysis Report

Cabot Corporation (CBT) : Free Stock Analysis Report

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Zacks Investment Research

BEDFORD, NS / ACCESSWIRE / August 5, 2021 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSXV:SSE)(FRA:S6Q1) is pleased to announce the completion of its Phase 1 exploration drilling at the El Mezquite Au-Ag property ("El Mezquite" or the "Property"). A total of 2,485 metres were drilled in twenty (20) holes covering eight collar locations. The first seven (7) drill holes were completed on June 14^th and the Company is anticipating the final results of gold, silver and multi-element analyses by mid-August. The remaining thirteen (13) holes were drilled with two RC rigs from Layne de Mexico and completed as scheduled on July 28^th.

"We were pleased to expedite exploration with additional geologists and samplers, and equipped with a second drill, Silver Spruce completed over 1,500 metres during July 21^st to 28^th. Logging and splitting of samples are progressing quickly at our option partner Colibri Resource's office facilities in Hermosillo. Samples will be submitted to ALS Global through the first week of August and, during September, we are looking forward to assays which reflect the potential of the outcrop samples," stated Greg Davison, Silver Spruce Vice-President Exploration and Director.

Figure 1. Pad M1 (MEZ-002, 180°, -70°) at El Mezquite showing RC rig from Layne de Mexico

"The Phase 1 RC program (see Figure 1 and Table 1) comprised 20 holes with a combined depth of 2,485 metres and utilized eight drill pad locations focused around a 400m x 600m area with elevated precious metal values to 3.41 g/t Au and 387 g/t Ag. Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages and coincident 3D IP chargeability anomalies," said Mr. Davison. "New targets for Phase 2 drilling are developing from our ongoing geological, hyperspectral, LANDSAT and LiDAR compilation, and incoming drill results as available."

Table 1. Final drill hole data for the Phase 1 El Mezquite exploration program

The Company's first-ever drilling program at El Mezquite was completed in July with samples being submitted to ALS Global in Hermosillo in daily batches of 3-4 holes. Laboratory assay results generally are expected from four to eight weeks after submittal. Laboratory workloads have impacted the projected turnaround timelines for the assays. The data will be released once the final precious metal and multi-element results are in receipt and interpreted for the first seven (7) drill holes, and for the remaining thirteen (13) drill holes, and all of which will contribute to the program design for Phase 2 drilling after the summer rainy season.

El Mezquite, a drill-ready precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico, is very well situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos (see Figure 2).

Figure 2. Location Map for El Mezquite, Jackie and Diamante Concessions. Nicho mine development by Minera Alamos located 10 km SE of El Mezquite.

Exploration Overview

The Company undertook an exploration program including environmental permitting for drilling, geological mapping of geologic structures and lineaments, ortho-mosaic photography, rock geochemical and hyperspectral analysis, data compilation and GIS modeling, and a LiDAR survey. Ground truthing of the Au-Ag system with geological mapping and rock sampling was completed in three campaigns between July 2020 and March 2021. All aspects of the exploration program are conducted with strict adherence to COVID-19 protocols for personal safety.

All current samples from the 2020-2021 field programs were submitted to ALS Global for gold, multi-element and hyperspectral analysis. Historical samples (>400) from the 2010-2019 programs also were submitted to provide complementary multi-element and hyperspectral data over the Property database. The assays, LiDAR survey data, and satellite hyperspectral interpretation results are being updated into the project ArcGIS database.

RC Drill Program

The environmental permit, required to drill the Property, was received from SEMARNAT (see Press Release April 20, 2021) and granted to the concession holder, Yaque Minerals S.A. de C.V. ("Yaque") by the Mexican Secretariat of Environment and Natural Resources (SEMARNAT).

The permit allows for fourteen (14) drill pads over the targets in the northern area of the concession. Individual holes achieved depths of 100-200 metres to intersect the target intervals.

Land surface agreements were signed recently with three ranchers to facilitate full access to the Phase 1 collar locations.

Project Background

The 180-hectare Property is easily accessible from Mexican Highway #16 via a southerly-trending unpaved road which traverses through the centre of the known gold mineralization (see Figure 2). High voltage power lines are positioned along Highway #16.

The El Mezquite Project is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the well-known, precious metals-rich Mojave-Sonora Megashear.

Geochemical Analysis, Quality Assurance and Quality Control

Drill chip sample splits are delivered to the ALS sample preparation facility in Hermosillo, Sonora, Mexico. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

The samples are crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). The sample pulps and crushed splits are transferred internally to ALS Global's North Vancouver, Canada or Lima, Peru analytical facility for gold and multi-element analysis. Pulps (50gram split) are submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24).

The retained pulps also will be analysed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m) with Hg by Aqua Regia and ICP-MS (Hg-MS42).

Over-limit Au and Ag samples will be analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Overlimit base metals will be analyzed by Four Acid Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-OG62).

In-house quality control samples (blanks, standards, duplicates, preparation duplicates) are inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results will be provided with the Company sample certificates. The results of the ALS control samples are reviewed by the Company's QP and evaluated for acceptable tolerances.

All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the El Mezquite Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company also is pursuing exploration of the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com

Michael Kinley, CEO and Director
(902) 402-0388
mkinley@silverspruceresources.com

info@silverspruceresources.com
www.silverspruceresources.com

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

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/658521/Silver-Spruce-Completes-Phase-1-Drilling-at-El-Mezquite-Au-Ag-Project-Sonora-Mexico

Hecla Mining (HL) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this precious metals company would post earnings of $0.05 per share when it actually produced earnings of $0.06, delivering a surprise of 20%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Hecla Mining, which belongs to the Zacks Mining – Silver industry, posted revenues of $217.98 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 1.88%. This compares to year-ago revenues of $166.36 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Hecla Mining shares have added about 2.2% since the beginning of the year versus the S&P 500's gain of 17.8%.

What's Next for Hecla Mining?

While Hecla Mining has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Hecla Mining was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.06 on $213.17 million in revenues for the coming quarter and $0.21 on $883.32 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Silver is currently in the bottom 2% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

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• All five drill holes completed to date have intersected significant widths of veining and sulphides demonstrating the robust nature of this mineralized system at the Surebet Polymetallic Gold-Silver Zone.

• Rush assays are expected in the immediate future for GD21-001.

• A second drill has been added to the 2021 Maiden Drill program based on mineralization observations of the polymetallic mineralization.

• Drilling is complete at the Cliff Showing with 865 meters in 5 drill holes. The drill has now moved to the North Zone drill pad located ~600 meters north of the Cliff Showing for the first (GD21-006) of several drill holes testing additional along-strike and up-dip extent.

• The final drill hole from the Cliff Showing drill pad, GD21-005 (123 meters, 340⁰/-45⁰) was drilled shallowly towards the north and intersected 27.8 meters* of quartz-sulphide veining, brecciation and alteration from 48.0 to 75.8 meters downhole length.

• The Main Vein was present as a 1.7-meter* intersection of intense quartz-sulphide shear texture and massive vein from 50.5 to 52.2 meters downhole length, enveloped by significant vein stockwork. A second intense 3.5-meter* quartz-sulphide vein breccia and underlying stockwork was intersected from 62.5 to 66.0 meters downhole length.

• Below is a summary of observed drill core intervals with quartz-sulphide veining, brecciation and alteration from the Cliff Showing’s drill holes GD21-001 to GD21-005 (link to images):

  • 57.5 meters* in GD21-001 (drilled Southeast)

  • 23.0 meters* in GD21-002 (drilled Northeast)

  • 78.0 meters* in GD21-003 (drilled Southwest)

  • 67.1 meters* in GD21-004 (drilled South-Southeast)

  • 27.8 meters* in GD21-005 (drilled North-Northwest)

• Sulphides observed include pyrrhotite, galena, sphalerite, chalcopyrite and possible argentite, silver-rich tetrahedrite and electrum (based on Portable XRF Silver readings generally from 1000 to over 5,000 g/t Silver). Spot counts of galena consistently returned 10s to 100s of g/t Ag, with values up to 1,030 g/t Ag.

• Additional fan drilling is planned for the adjacent Lower and Upper Waterfall, Main, Central and North Zone Showings of the Surebet Zone, testing the exposed at surface strike length of 1000 meters. The second phase of the 2021 drill campaign will include step-back holes to test the mineralized structure to a down-dip extent of 500 meters.

• ~5,000 meters of drilling are planned and will target the extensive high-grade gold-silver discovery from the exposed quartz-sulphide and sulphide occurrences along strike and to depth (link to video).

^{* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the exact geometry of the quartz-sulphides system.
** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; they simply give an indication of the presence of certain metal elements in the drill core. Spot measurements referenced here were collected using a Niton XL3t XRF Analyzer, which cannot reliably detect Gold, but does detect the geochemical pathfinder elements such as Silver, Copper, Zinc, Lead and Tungsten that are commonly associated with Gold. Assay results are pending.}

TORONTO, Aug. 05, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to report a 27.8-meters* drill intercept of quartz-sulphide veining, brecciation and associated alteration from the fifth drill hole GD21-005 during the Company’s 2021 maiden diamond drill campaign at its 100% controlled Golddigger Property (the “Property”). Based on the initial observations of extensive polymetallic mineralization in the first five drill holes, a second drill rig has been added to the maiden 2021 drill program.

Both rigs will continue to trace the full extent of the Surebet Polymetallic Gold-Silver Zone along strike and at depth. The recently completed airborne geophysics survey (Magnetics, Electromagnetics) indicates more widespread magnetism at Surebet, likely related to the presence of pervasive magnetic pyrrhotite. The survey also defined the boundary of the major intrusive body to the west along with offshoot dykes in the immediate area of the known Surebet mineralization, both of which are believed to be part of the driving force of the mineralization.

Additional fan drilling is planned for the adjacent Lower and Upper Waterfall, Main, Central and North Showings of the Surebet Zone, testing the exposed at surface strike length of 1000 meters. The second phase of the 2021 drill campaign is planned to include two rigs focussed on step-back holes to test the mineralized structure to a down-dip extent of 500 meters and now is also planned to test the Cloud 9 gold mineralized vertical structure at depth 800 meters to 1000 meters to the west of the Surebet outcrop. Cloud 9 is indicated to be a secondary vertical structure that intersects and is fed by the Surebet Zone. This drilling will test this model at depth to confirm it is fed by the Surebet system and if successful could dramatically extend the down dip extent to 1000 meters, the Surebet Zone remains open in all directions.

The 2021 drill campaign is designed to trace the high-grade gold-silver zone exposed at surface along 1000 meters (1km) of strike and to a down dip depth over 500 meters at the Surebet Zone (“Surebet” or the “Project”). Currently the Surebet zone averages 9.84 meters wide grading 10.68 g/t AuEq (with 7.59 g/t Au) based on channel cut sampling taken in 2020. Surebet also has 500 meters of vertical relief and 1000 meters of inferred down dip extent. The Project is located in a mining friendly jurisdiction in a world class geological setting near Stewart, BC in the Golden Triangle of British Columbia. The Homestake Ridge Deposit (Fury Resources Inc.), Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity.

The final drill hole GD21-005 (123 meters, 340⁰/-45⁰) from the Cliff Showing drilled shallowly towards the north towards the Waterfall Showing, intersected 27.8 meters* (from 48.0 to 75.8 meters downhole length) of quartz-sulphide veining, brecciation and alteration. The interval contained the same assemblage of sulphide minerals (pyrrhotite, sphalerite, galena and chalcopyrite) observed in GD21-001 to GD21-004 along with quartz, brecciation and alteration.

The Main Vein was present as a 1.7-meter intersection of intense quartz-sulphide shear texture and massive vein from 50.5 to 52.2 meters downhole length, enveloped by significant vein stockwork. A second intense quartz-sulphide vein breccia and underlying stockwork was intersected from 62.5 to 66.0 meters downhole length.

GD21-005 undercut an area approximately 60 meters below surface of the southernmost Cliff Showing. The Cliff Showing previously yielded a fresh angular float sample assaying 967.99 g/t AuEq (29.72 oz/t Gold, 97.19 oz/t Silver), and is located 90 meters along strike to the south of the Lower Waterfall Showing of 13.05 g/t AuEq over 15.1 meters (true width).

The top of the quartz-sulphide vein intercept in GD21-005 is located approximately 120 m southwest of the Lower Waterfall Showing, where 2020 channel sampling yielded 13.05 g/t AuEq over 15.1 meters.

Drilling is completed at the Cliff Showing for now. A summary of observed drill core intervals with quartz-sulphide veining, brecciation and alteration from the Cliff Showing’s drill holes GD21-001 to GD21-005 is outlined as follows:

• 57.5 meters* in GD21-001 (drilled Southeast)

• 23.0 meters* in GD21-002 (drilled Northeast)

• 78.0 meters* in GD21-003 (drilled Southwest)

• 67.1 meters* in GD21-004 (drilled South-Southeast)

• 27.8 meters* in GD21-005 (drilled North-Northwest)

Sulphides observed included pyrrhotite, galena, sphalerite, chalcopyrite and possible argentite, silver-rich tetrahedrite and electrum (based on Portable XRF Silver readings generally from 1000 to over 5000 g/t Silver). Spot counts of galena consistently returned 10s to 100s of g/t Ag, with values up to 1,030 g/t Ag.

This drilling will test this model at depth to confirm it is fed by the Surebet Zone and could extend the down dip extent to ~ 1000 meters, it remains open in all directions. The sixth drill hole on the Surebet Zone, GD21-006 (at a targeted length of 300 meters, 030°/-62°), is being drilled to the northeast from the North Showing drill pad, located approximately 600 meters along-strike to the north of the Cliff Showing. Surface channel sampling at the North Showing in 2020 yielded intercepts of 5.13 g/t AuEq over 12.3 meters including 17.86 g/t AuEq over 3.1 m, and 15.09 g/t AuEq over 5.3 m including 17.01 g/t AuEq over 4.7 meters (Company news release dated November 10, 2020).

^{* The stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling can confirm the geometry of the quartz-sulphides system.
** Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot counts are not equivalent to laboratory assays; they simply give an indication of the presence of certain metal elements in the drill core. Spot measurements referenced here were collected using a Niton XL3t XRF Analyzer, which cannot reliably detect Gold, but does detect the geochemical pathfinder elements such as Silver, Copper, Zinc, Lead and Tungsten that are commonly associated with Gold. Assay results are pending.}

QA-QC Protocols

Oriented HQ-diameter diamond drill core from the Surebet drill campaign is placed in core boxes by the drill crew of a company contracted by Goliath. Core boxes are transported by helicopter over a 15 kilometer distance to the Kitsault staging area, and then transported by truck approximately 500 meters to the Goliath core shack. The core is then re-constructed, meterage blocks are checked, meter marks are labeled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit^TM.

Drill holes were planned using Leapfrog Geo^TM and QGIS^TM software and data from the 2019 and 2020 exploration campaigns, the 2021 airborne Mag and VLF-EM geophysical survey, and an in-house lineament study incorporating observed folds, axial planes, geologic contacts, dykes swarms, cleavages, and all significant lineaments/structures.

Drill core containing quartz, sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a plastic bag with an ALS sample tag. Standards, blanks and pulp duplicates were added in the sample stream at a rate of 10%. Samples are transported in rice bags sealed with numbered security tags. Goliath personnel drives samples from Kitsault to Terrace and a transport company takes them from there to the ALS lab facilities in North Vancouver. At ALS, samples are processed, dried, crushed, and pulverized before analysis using the ME-ICP61 and PGM-ICP24 methods. Overlimits are re-analyzed using the ME-OG62, Ag-GRA21, and PGM-ICP27 methods. If Gold is higher than 5 g/t, ALS will re-analyze using Metallic Screening (Au-SCR24C) method.

Golddigger Property

The Property has an area of 23,859 hectares (59,646 acres or 239 square-kilometers) and is located in the world class geological setting of the Golden Triangle area on tide water 30 kilometers southeast of Stewart, BC.

Surebet is located some 8 kilometers southwest of the Homestake Ridge project which is a high-grade gold-silver deposit that contains 982,700 ounces of gold @ 4.99 g/t Gold and 19,600,000 ounces of Silver @ 97.7 g/t Silver, with drill intercepts of up to 73 meters of 21 g/t Gold and 12 g/t Silver (source – Fury Resources Inc. PEA & Website) (Link to Map).

At Surebet, multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1000 meters) of strike at surface and a half a kilometer (500 meters) of vertical relief with an average true width of 9.84 meters assaying 10.68 g/t AuEq (with 7.59 g/t Gold) with 1 kilometer (1000 meters) of inferred down dip extent (3D Model & Proposed Drill Locations Video Link).

Surebet targets are contained within a shear zone and will be tested for the first time in the 2021 drill campaign. Higher grade polymetallic gold-silver mineralization is contained within a broad alteration halo of strongly silicified Hazelton Group sediments up to 43.5 meters wide containing mineralization assaying up to 0.5 g/t AuEq (Link to news November 25, 2020).

Surebet is characterized by a series of NW-SE trending structures that occur within a package of Hazelton group sediments underlain by Hazelton volcanics and are within 2 kilometers of the Red Line. Lidar imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square-kilometers area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures (Lidar Video Link).

Qualified Person

Rein Turna, P. Geo, is the qualified person as defined by National Instrument 43-101, for Goliath Resources Ltd projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

About Goliath Resources Limited

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and the Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.

For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887 x222
roger@goliathresources.com
www.goliathresourcesltd.com

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Northampton, MA –News Direct– Freeport-McMoRan

Three health clinics from PT Freeport Indonesia (PT-FI) were given to the Mimika Regency government in Papua in June 2021.

PT-FI will continue to operate the clinics, which provide health services to the local community.

To learn more about how Freeport-McMoRan works in partnership with local stakeholders to support sustainable futures, please visit www.fcx.com/sustainability.

See the 2020 Annual Report on Sustainability for more information on their social, economic and environmental efforts.

View additional multimedia and more ESG storytelling from Freeport-McMoRan on 3blmedia.com

View source version on newsdirect.com: https://newsdirect.com/news/pt-freeport-indonesia-gifts-three-health-clinics-to-papua-government-475826454

CLEVELAND, August 05, 2021–(BUSINESS WIRE)–Cleveland-Cliffs Inc. (NYSE: CLF) announced today that its employees represented by the United Auto Workers (UAW) Local 600 have ratified a three-year labor contract for its Dearborn Works operations. The new contract is retroactively effective from August 1, 2021 through July 31, 2024, and will cover approximately 1,000 UAW-represented workers at Dearborn.

Lourenco Goncalves, Chairman, President and CEO, stated, "We are extremely pleased to continue our commitment to good-paying middle class union jobs with a new labor agreement at Dearborn. Our union workforce is at the core of what we do at Cleveland-Cliffs, and Cleveland-Cliffs is at the core of American manufacturing as a whole. This is particularly relevant now, with the very real challenges and opportunities related to a new green era in steelmaking and in manufacturing. Dearborn is home of the most modern galvanizing line in the country, built in 2011 to produce the most advanced extra-wide automotive-grade exposed materials, among several other high end specs. Our local team at Dearborn is committed to the long-term health and success of our Company and our country, and as such, we were able to get a deal done with the UAW Local 600 that is fair and equitable for both sides." Mr. Goncalves added, "Differently from almost all other companies in this country, we embrace our unions as partners, and work with them as equals in pursuing our common goals. Our partnership is a powerful one and, with this latest deal, we will maintain our competitive cost structure in flat-rolled steel relative to any of our peers, union or non-union."

About Cleveland-Cliffs Inc.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling, and tubing. The Company serves a diverse range of markets due to its comprehensive offering of flat-rolled steel products and is the largest supplier of steel to the automotive industry in North America. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada. For more information, visit www.clevelandcliffs.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005921/en/

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