(Reuters) – Lynas Rare Earths Ltd said on Thursday it got a A$14.8 million ($10.9 million) grant from Australia to commercialise a new mineral refining process that produces high-purity rare-earth carbonate.

The grant comes as nations worldwide look at ways to curb their reliance on China for the specialised minerals, which are used in a range of products including electric vehicles, smartphones and military equipment.

Lynas, the world's largest producer of rare earths outside China, said the new refining process would be used at its upcoming A$500 million processing facility in Kalgoorlie, Western Australia.

About half the cost of implementing the new process at Kalgoorlie will be met by the grant, which was made as part of the Australian government's Modern Manufacturing Initiative.

According to a government website https://business.gov.au/grants-and-programs/modern-manufacturing-initiative-manufacturing-integration, the initiative supports and co-funds projects to encourage linkages between local businesses and domestic and international firms.

Lynas said it could supply the rare-earth carbonate produced in Kalgoorlie to its plant in Malaysia and its proposed facility in the United States.

Shares of the company rose as much as 8.2% in their biggest intraday jump in five months.

($1 = 1.3604 Australian dollars)

(Reporting by Harish Sridharan in Bengaluru; Editing by Subhranshu Sahu)

VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) — HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) would like to provide an update on the niobium metallurgical program on the Company’s Nukittooq niobium-tantalum project and provide comments on the legislation being proposed for uranium extraction by the recently elected Government in Greenland.

Legislative Update

The Government of Greenland recently prepared a draft Bill to ban uranium prospecting, exploration, and exploitation. The draft Bill has been introduced to seek a zero-tolerance policy on the mining and sale of uranium. The ban does not cover other radioactive elements such as thorium, although the proposed Bill gives the Government the option to extend this to other radioactive elements. The draft Bill provides that it is at the Government’s discretion as to whether they approve a project based on how uranium waste is handled. Hudson is encouraged to see that Section 3.4 of the draft Bill states that the new Act would only apply to licenses granted after the Act is promulgated. The draft Bill specifically states that licenses already granted will not be affected by the new legislation. The Greenland government has initiated a consultation process which closes on August 2, 2021 and in which Hudson will participate.

Hudson’s Sarfartoq rare earth element (“REE”) project and Nukittooq niobium-tantalum project were granted an exploration license in 2020. The license does not provide any rights to radioactive elements. The work to date has shown that the Sarfartoq REE project does not contain elevated levels of uranium. The Nukittooq project does have uranium values above background levels and the Company will investigate how the uranium will be handled within Government guidelines. In addition, Hudson’s projects are not located near any communities in Greenland and therefore the Company believes that the development of these projects can be done safely and within government guidelines. The Company will continue to advance the Sarfartoq REE and niobium-tantalum projects which are vital in supporting the green economy in Europe and North America.

Hudson is pleased to see that the Greenland Government, through the Ministry of Mineral Resources, is now a member of the European Raw Material Alliance (“ERMA”). ERMA was established to support the European Union’s (“EU”) transition to a green economy with a focus on the critical raw materials which include REE’s, niobium and tantalum which are found on Hudson’s Sarfartoq license. ERMA (http://erma.eu) supports sustainable multi-sourcing of REE’s including world-class REE deposits in Greenland.

Niobium Testwork Update

Hudson engaged SGS Lakefield Canada to conduct an extensive metallurgical testwork program on the niobium samples collected from its high-grade Nukittooq niobium-tantalum project (see NR2021-1). The program has been making excellent progress and has been extended to include an additional series of flowsheet tests. Results are expected in the coming weeks. The next stage will be to define significant tonnage on this exceptionally high-grade project. We expect to initiate this field work in Q3.

Jim Cambon, President commented: “We believe that the proposed changes in the legislation as currently written will not impact our exploration projects in Greenland. We have built a strong working relationship with government and local communities and will engage in the consultation process. We are excited to continue to add value to our Nukittooq niobium-tantalum project while the increase in REE prices encourages us to further develop our Sarfartoq REE project which has over US$3B in neodymium and praseodymium defined to date. Hudson wishes to capitalize on Greenland’s strategic location between the EU and North America and advance its portfolio of critical metals to provide a secure supply chain to these regions.”

Hudson owns 100% of the Sarfartoq REE project and the high-grade Nukittooq niobium-tantalum project located on the Sarfartoq exploration license. The Sarfartoq REE project has a 43-101 resource outlining 35M kilograms of neodymium oxide and praseodymium oxide, the two key components in permanent magnets driving the green revolution. There is significant potential to expand this REE resource. The Nukittooq project has some of the highest reported niobium assays in the industry (see NR2020-15). Hudson also has a 31.1% equity interest in the White Mountain anorthosite mine in Greenland with rights to acquire 100%.

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim Cambon”

President and Director

For further information:
Ph: 604-628-5002

Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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.

(Bloomberg) — A final settlement between Brazilian authorities and the Samarco iron-ore venture can be reached this year, bringing legal certainty to owners Vale SA and BHP Group six years after a devastating tailings dam collapse.

That’s according to federal prosecutor Carlos Bruno Ferreira da Silva, who said in an interview that the final reparation value is yet to be defined and will be based on independent technical studies.

Silva, who is leading talks on behalf of prosecutors, pointed to a document signed by the parties that estimates talks to last about four months from June 22, the last four weeks of which would be focused on a final draft. Authorities and company officials have been meeting weekly.

A settlement would replace a giant lawsuit, removing a considerable legal overhang for Samarco and its shareholders after the 2015 collapse spewed millions of tons of sludge into communities and waterways, killing 19 people. That public-civil suit is suspended during the talks.

Read More: BHP-Vale JV Offers 85% Bond Haircut or Equity to Creditors

Still, there’s a lot at stake in the final phase of negotiations. In 2016, prosecutors issued a preliminary reparation calculation of 155 billion reais ($30 billion). Earlier this week, Reuters quoted Minas Gerais Governor Romeu Zema as saying it could reach 100 billion reais over five years. Vale’s recent 37.7 billion-real settlement for a seperate dam disaster at Brumadinho offers another point of reference — it came in at two-thirds of what was initially sought by courts.

Private consulting firms are carrying out the socio-environmental diagnosis to measure the damage and what the companies have already done.

“This value can be higher or lower, depending on what the studies show,” said Silva.

For now, Silva says authorities have come up with detailed proposals to address individual indemnities. The Brazilian National Council of Justice mediating the negotiation is expected to convene public hearings in August and September to hear from the impacted population.

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United States Steel (X) closed at $23.04 in the latest trading session, marking a -0.09% move from the prior day. This move lagged the S&P 500's daily gain of 0.2%.

Prior to today's trading, shares of the steel maker had lost 1.83% over the past month. This has lagged the Basic Materials sector's gain of 2.47% and the S&P 500's gain of 3.28% in that time.

Investors will be hoping for strength from X as it approaches its next earnings release, which is expected to be July 29, 2021. The company is expected to report EPS of $3.11, up 216.48% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.7 billion, up 124.91% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $11.51 per share and revenue of $18.38 billion, which would represent changes of +346.47% and +88.71%, respectively, from the prior year.

Any recent changes to analyst estimates for X should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 20.17% higher. X currently has a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that X has a Forward P/E ratio of 2 right now. Its industry sports an average Forward P/E of 5.86, so we one might conclude that X is trading at a discount comparatively.

Investors should also note that X has a PEG ratio of 0.25 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Steel – Producers industry currently had an average PEG ratio of 0.28 as of yesterday's close.

The Steel – Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 13, which puts it in the top 6% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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(Bloomberg) — Rio Tinto Group will join a new study into the impacts on a South Pacific community of a now shuttered copper mine that sparked deadly civil strife three decades ago and has drawn concern over environmental impacts.

The London-based producer will be among a committee that’ll investigate the “actual and potential environmental and human rights impacts,” of the Panguna mine in Bougainville, which operated for 17 years through 1989 when local protests over mine revenue degenerated into a civil war that killed as many as 20,000 people.

“We’ve not had access to the mine since that time,” Rio Chief Executive Officer Jakob Stausholm said in a Wednesday statement. “Stakeholders have raised concerns about impacts to water, land and health and this process will provide all parties with a clearer understanding of these important matters.” Bougainville is a semi-autonomous region of Papua New Guinea.

Rio has been attempting to do more to address concerns over environmental and human rights issues amid efforts to repair community ties following explosions at an iron ore operation in Australia last year that decimated two Aboriginal Australian heritage sites. The incident led to the exit of key executives, including Stausholm’s predecessor.

Read more: The Horse Breeder, the Novelist and the $60 Billion Mine

Bougainville residents have long demanded action from Rio and previously opened a human rights complaint with the Australian government. The disused mine site has also been the target of frequent interest from developers hoping to revive operations and exploit the billions of dollars of gold and copper left untapped.

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(Bloomberg) — BHP Group is considering getting out of oil and gas in a multibillion-dollar exit that would accelerate its retreat from fossil fuels, according to people familiar with the matter.

The world’s biggest miner is reviewing its petroleum business and considering options including a trade sale, said the people, who asked not to be identified as the talks are private. The business, which is forecast to earn more than $2 billion this year, could be worth an estimated $15 billion or more, one of the people said.

BHP’s energy assets make it an outlier among the world’s biggest miners — rival Anglo American Plc has already exited thermal coal under investor pressure and BHP is trying to follow suit. The company has long said the oil business was one of its strategic pillars and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, BHP wants to avoid getting stuck with assets that more become more difficult to sell, the people said.

The deliberations are still at an early stage and no final decision has been made, the people said. A spokesman for BHP declined to comment.

The move comes as oil supermajors grapple with how to respond to investor pressure over climate, in some cases by shrinking their core production and adding renewable energy assets.

Read more: The Retreat of Exxon and the Oil Majors Won’t Stop Fossil Fuel

BHP wants to exit while it can still get a good price for the assets, aiming to repeat a 2018 sale of its shale business to BP Plc for $10.4 billion, the people said. And unlike big-oil rivals, BHP doesn’t depend on profits from the energy business, which are dwarfed by the company’s giant iron ore and copper units.

The timing could be good for an oil exit. The economic recovery from Covid-19 has transformed the fortunes of oil producers, with Brent oil futures having rallied about 60% in the past year.

By contrast, the company’s efforts to get out of thermal coal so far have been disappointing, after early bids for mines in Australia came in lower than the company’s own valuations last year.

Getting out of both thermal coal and petroleum would help BHP make its case to investors as a company geared toward commodities of the future. The miner is also expected to sanction a giant potash mine in Canada next month, which could make it a key supplier of the crop nutrient once production begins. BHP is scheduled to report annual results on Aug. 17.

BHP has been in oil and gas since the 1960s, and has assets in the Gulf of Mexico and off the coast of Australia. It produced 102.8 million barrels of oil equivalent in the year ending June 30.

“BHP is an outlier in the mining sector for its petroleum business and this is often cited in our investors discussions as a point of detraction,” said RBC Capital Markets analyst Tyler Broda. “With rising ESG pressures facing the industry, but also as this business potentially enters into a re-investment phase, we can see why management might be contemplating an exit.” Broda estimates the business is worth about $14.3 billion.

Read: Falling Oil Prices, Treasury Yields May Power New Energy Stocks

While divesting fossil fuel assets would help to strengthen BHP’s ESG metrics, it may have to sell them at a discount, Saul Kavonic, an analyst at Credit Suisse Group AG, said in a note. Exiting the oil and gas business could also leave the company short of medium-term growth catalysts, with the Jansen potash project in Canada “a late-decade story,” he added.

BHP shares rose as much as 2.3% in Sydney trading on Wednesday.

(Adds analyst comment in paragraph 12, share reaction)

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Here are four stocks with buy rank and strong momentum characteristics for investors to consider today, July 21st:

NIKE, Inc. NKE: This leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.1% over the last 60 days.

NIKE, Inc. Price and Consensus

NIKE, Inc. price-consensus-chart | NIKE, Inc. Quote

Nike’s shares gained 22.8% over the last one month compared to S&P 500’s rise of 1.5%. The company possesses a Momentum Score of B.

NIKE, Inc. Price

NIKE, Inc. price | NIKE, Inc. Quote

Lululemon Athletica Inc. LULU: This company that designs and retails athletic clothing for women, men, and female youth has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.3% over the last 60 days.

Lululemon Athletica Inc. Price and Consensus

Lululemon Athletica Inc. price-consensus-chart | Lululemon Athletica Inc. Quote

Lululemon Athletica’s shares gained 8.8% over the last one month. The company possesses a Momentum Score of B.

Lululemon Athletica Inc. Price

Lululemon Athletica Inc. price | Lululemon Athletica Inc. Quote

BHP Group BHP: This resources company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 20% over the last 60 days.

BHP Group Price and Consensus

BHP Group price-consensus-chart | BHP Group Quote

BHP’s shares gained 4.8% over the last one month. The company possesses a Momentum Score of B.

BHP Group Price

BHP Group price | BHP Group Quote

ABB Ltd ABB: This company that manufactures and sells electrification, industrial automation, and robotics and motion products has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.7% over the last 60 days.

ABB Ltd Price and Consensus

ABB Ltd price-consensus-chart | ABB Ltd Quote

ABB’s shares gained 4.1% over the last one month. The company possesses a Momentum Score of B.

ABB Ltd Price

ABB Ltd price | ABB Ltd Quote

See the full list of top ranked stocks here

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

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OAKLAND, Calif., July 21, 2021–(BUSINESS WIRE)–Piedmont Lithium Inc. shares plunged nearly 20% on Tuesday, July 20, 2021 after Reuters reported it has repeatedly delayed seeking county approval for its proposed lithium mine, despite years of promising investors that it would do so. Five out of seven county officials now say they may block or delay the project because Piedmont has failed to inform them about the mine's potential environmental impacts. Gibbs Law Group is investigating a potential Piedmont Lithium Class Action Lawsuit on behalf of investors who lost money in Piedmont Lithium Inc. (NASDAQ: PLL).

To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.

On Tuesday July 20, 2021, Reuters reported that a majority of county officials in Gaston County, North Carolina say they may block or delay Piedmont’s plan to build the largest lithium mine in the U.S., because the company has failed to inform them of any potential environmental impacts, including effects on noise, dust, vibrations, water and air quality.

Despite promising investors as early as 2018 that it would obtain permits by 2019, Piedmont has repeatedly delayed the process. In March 2021, Piedmont cancelled a planned meeting with county commissioners with three days’ notice, leading one commissioner to say, "This has been the worst rollout of a project from a company I’ve ever seen." Previously, Piedmont has told investors it was "not aware" of any potential roadblocks to receiving permitting, despite the fact that they had not yet presented any information to the county government.

Piedmont signed a deal with Tesla in 2020, causing its stock to skyrocket, and its proposed mine would be the largest lithium mine in the US.

Following news of trouble with its planned mine, Piedmont’s stock price plummeted nearly 20% at the close of July 20, 2021, causing significant harm to investors.

What Should Piedmont Investors Do?

If you invested in Piedmont, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Piedmont Lithium Inc. has violated federal securities laws by providing false or misleading statements to investors.

About Gibbs Law Group

Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including "Best Lawyers in America," "Top Plaintiff Lawyers in California," "California Lawyer Attorney of the Year," "Class Action Practice Group of the Year," "Consumer Protection MVP," and "Top Women Lawyers in California."

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006285/en/

Contacts

EILEEN EPSTEIN
PHONE: 510.350.9728
EMAIL: EJE@CLASSLAWGROUP.COM

(Fixes typographical error in paragraph 2)

July 21 (Reuters) – Miner Rio Tinto on Wednesday decided to shut a furnace at its Richards Bay Minerals (RBM) project in South Africa, as supply of the raw material used to fuel it was hampered by an "escalation in the security situation".

Last month, it declared a force majeure on customer contracts and halted mining and smelting operations at the project following a violent community unrest and a report that an employee was killed in May.

The miner said shutting one of the four furnaces at the mineral sands project would reduce the use of its stockpile of feedstock and limit the long-term impacts of a shutdown on RBM's furnaces.

"Shutting a furnace has a major impact on the business and broader community and it not a decision we have taken lightly," Sinead Kaufman, chief executive of Rio's minerals division, said.

RBM will reassess the situation to decide on restarting the furnace or potentially shutting other furnaces depending on "when the safety and security position improves," Rio said.

All operations at RBM remain halted until further notice, the miner said. (Reporting by Shashwat Awasthi; Editing by Arun Koyyur)

MELBOURNE, Australia, July 21, 2021–(BUSINESS WIRE)–Rio Tinto’s Richards Bay Minerals (RBM) operation in South Africa will shut one of its four furnaces due to the depletion of available feedstock at the plant. This is the result of mining operations being halted following an escalation in the security situation at the operations which significantly hampered the mine’s ability to operate safely. Rio Tinto declared Force Majeure on our customer contracts at RBM on 30 June 2021.

The four furnaces at RBM are dependent on a stockpile of feedstock, which is being steadily depleted. RBM’s decision to shut one furnace will reduce the call on the stockpile and limit the long-term impacts of a shutdown on the RBM’s furnaces.

Rio Tinto chief executive Minerals, Sinead Kaufman, said: "Shutting a furnace has a major impact on the business and broader community and it not a decision we have taken lighty. However, we will not put production ahead of the safety of our people and there are still fundamental criteria that must be met before we can resume operations in a sustainable manner.

"We continue to work with national and provincial governments as well as community structures to find a lasting solution to the current situation so that operations can resume as soon as it is possible to safely do so."

RBM will regularly reassess the situation to make further decisions on any potential restart or the shutting of the other furnaces, depending on when the safety and security position improves.

RBM is one of the largest businesses in KwaZulu-Natal, with a workforce of some 5,000 people and the largest taxpayer in KwaZulu-Natal. The company contributed R8 billion to the national economy in 2020.

All operations at RBM remain halted until further notice.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006316/en/

Contacts

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

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

David Outhwaite
M +44 7787 597 493

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

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

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

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

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

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

Amar Jambaa
M +61 472 865 948

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

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

riotinto.com

Category: RBM
Category: General

VANCOUVER, BC / ACCESSWIRE / July 21, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has completed the second hole (GP-21-150) of the 2021 diamond drilling program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The hole was completed at the Jaclyn Main Zone. Visible gold is evident in two quartz veins.

Quartz Vein with Visible Gold in GP-21-150

Drill hole GP-21-150 is a definition hole, drilled between drill holes GP-19-138 and GP-19-143B, both of which intersected high grade gold mineralization. GP-21-150 was drilled within the west region of the Jaclyn Main Zone (JMZ). It was drilled to a length of 111 meters. The current drilling is part of the Company's Phase 2 diamond drilling program at the gold bearing Jaclyn Zone. Drill core from GP-21-150 is currently being geologically logged and sampled at the Company's secure facility in central Newfoundland.

Multiple quartz veins were intersected in GP-21-150. Visible gold is evident in a 0.30-meter long (core length) quartz vein intersected at 30.18-30.48 meters and within quartz veined zone intersected at 75.75-76.58 meters (core length). Drill core samples from GP-21-150 will be submitted to a certified laboratory for gold assay and multi-element analysis.

Drilling is underway on the third hole GP-21-151, which also a definition hole in the western part of the JMZ.

The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the JMZ and Jaclyn North Zone with total planned drilling of approximately 5,000 meters. The objective of drilling at the JMZ is to further define the zone and provide information for an updated resource estimate of the JMZ. The Company is continuing the drill hole numbering system from previous drilling programs. Most of the planned holes at the JMZ are within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the JMZ to test the zone at 200-350 meters vertical depth.

Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).

The Company confirmed high-grade gold at the JMZ during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters, 61.35 g/t gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 g/t gold over 25.25 meters.

Quartz Vein with Visible Gold in GP-21-149

The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV:SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV:NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization the Golden Promise Property.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.

On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director

Investor Relations:
Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line: 604-488-3900

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company 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 in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

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.

Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4

SOURCE: Great Atlantic Resources Corp.

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LOS ANGELES, July 21, 2021–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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

On July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected."

On this news, the Company’s stock price fell $12.56, or nearly 20%, to close at $50.52 per share on July 20, 2021, thereby injuring investors.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Piedmont Lithium Inc. securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006287/en/

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com

LOS ANGELES, CA / ACCESSWIRE / July 21, 2021 /The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Piedmont Lithium Inc. ('Piedmont' or 'the Company') (NASDAQ:PLL) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Reuters published an article on July 20, 2021, titled: 'In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors.' According to the article, the Company 'has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.' The article continues, 'five of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected,' and quotes the chair of the board of commissioners as stating that 'Piedmont has sort of put the proverbial cart before the horse.' According to Reuters, 'state officials added their review process could stretch for more than a year as they solicit comments from at least six other state and federal agencies,' and quoted the director of Gaston County's planning and zoning office stating that 'I'm not even going to accept an application from Piedmont for rezoning until they have their state permit in hand.' Based on this news, shares of Piedmont traded down by almost 20% on the same day.

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.

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.

Contacts

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

SOURCE: The Schall Law Firm

View source version on accesswire.com:
https://www.accesswire.com/656527/INVESTOR-ACTION-ALERT-The-Schall-Law-Firm-Announces-it-is-Investigating-Claims-Against-Piedmont-Lithium-Inc-and-Encourages-Investors-with-Losses-to-Contact-the-Firm

By Melanie Burton

MELBOURNE (Reuters) – Rio Tinto is asking train drivers working in mineral-rich Western Australia to work more hours, following a move by rival BHP Group, as miners rush to ship millions of tonnes of iron ore amid soaring prices for the steel making material.

The push comes among a worsening skills shortage in Australia's west that has been exacerbated by strict coronavirus restrictions, which unions say have raised mental health risks for workers and their families.

Train driver Paul Bloxsom, who will leave Rio next month, said Western Australian border constraints to keep out COVID-19 that include a 14-day quarantine meant he had only seen his family in Queensland four times in 15 months.

"That's a challenge in itself, the isolation and the loneliness and so on. There was a combination of things, and I just had enough. And there's a lot more jobs going back at home on the east coast," he told Reuters.

Mine workers in Australia often live in cities and fly in and fly out (FIFO) to remote mine sites, a commute that can take anywhere from several hours to a day, including connections.

While miners in Western Australia are enjoying a commodity boom that has powered new construction projects, they are having to compete for workers with government-backed infrastructure projects on the other side of the country.

"Unlike previous construction-led growth periods for our sector, where up to 1,000 people a week were moving to Western Australia for work, there are now strong employment prospects in the eastern states," the state's Chamber of Minerals and Energy said last month.

International skilled migration has also dried up due to Australia's caps on immigration arrivals.

Miners have been looking for ways to ensure they can keep production at full tilt until Australia boosts its vaccination rates, said analyst Peter O'Connor of Shaw and Partners in Sydney.

"Short of keeping people in Western Australia on extended rosters, which wears people out, their options are limited – that is a real and present risk to production," he said.

For train drivers, Rio has asked for expressions of interest in a two-week on, one-week off roster, compared to the typical two-week on, two-week off roster, but said the request was voluntary and would include appropriate remuneration.

BHP has already mandated that roster for its FIFO train drivers as a temporary measure through to August 2022, blaming the skills shortage, but drawing criticism from the CFMEU union which says it has come at a cost for drivers and their families.

BHP, which has announced plans to train 200 new drivers, said it was offering interstate FIFO employees support including financial assistance for temporary and permanent relocation, flexible work options, as well as mental health support.

Rio said it is looking to recruit drivers, and is also providing temporary and permanent relocation packages for interstate workers.

The state government is also taking steps to boost skilled worker numbers, but noted in a statement its strong border measures have kept out COVID-19 and helped drive the national economy.

The CFMEU, however, wants miners and government to find ways for FIFO workers to spend less time in quarantine and more time with their families, said Greg Busson, secretary of the CFMEU mining and energy division.

"We have been dealing with this for 18 months now, surely we have some lessons learned," he said.

(Reporting by Melanie Burton; editing by Richard Pullin)

(Bloomberg) — Tesla Inc. has struck a nickel-supply deal with BHP Group, as the electric-car maker seeks to protect itself from a future supply crunch.

BHP will provide the automaker with the metal from its Nickel West operation in Western Australia, the world’s biggest miner said in a statement. BHP gave few further details, but said the companies would work together to make the battery supply chain more sustainable.

Telsa’s billionaire boss, Elon Musk, has repeatedly expressed concern about future supplies of nickel due to challenges in sustainable sourcing. Musk has pleaded with miners to produce more nickel, with demand set to skyrocket as the world increasingly moves toward electric vehicles.

Read more on Tesla’s plans to lock in supply as battery demand booms

Nickel is a key component in lithium-ion batteries, used in electric vehicles. It packs more energy into batteries and allows producers to reduce use of cobalt, which is more expensive and has a less transparent supply chain.

Telsa has struck a string of deals with mining companies for the commodities it needs to make batteries, including cobalt pacts with Glencore Plc and supporting a nickel venture in New Caledonia.

For BHP, it marks a turnaround for the company’s Nickel West business. The company unsuccessfully tried to sell the unit in 2014 and has since pivoted it to serve battery makers, rather than traditional customers such as the stainless steel industry.

Bloomberg originally reported that the two companies were in talks in October.

More stories like this are available on bloomberg.com

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

©2021 Bloomberg L.P.

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NEW YORK, July 21, 2021–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP is investigating potential claims against Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL). The investigation concerns whether Piedmont has violated the federal securities laws and/or engaged in other unlawful business practices.

On July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected." On this news, the Company’s stock price declined by $12.56 per share, or approximately 20%, from $63.08 per share to close at $50.52 per share on July 20, 2021.

If you purchased or otherwise acquired Piedmont securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210721005969/en/

Contacts

Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
investigations@kmllp.com

Exhibit 1 – Drill hole collar data

Exhibit 1 – Drill hole collar data

Exhibit 2 – Summary highlights of 2021 drilling

Exhibit 2 – Summary highlights of 2021 drilling

Exhibit 3 – Compilation map and 2021 drill plan

Exhibit 3 – Compilation map and 2021 drill plan

Exhibit 4 – Simplified Longitudinal Section West Zone

Exhibit 4 – Simplified Longitudinal Section West Zone

TORONTO, July 21, 2021 (GLOBE NEWSWIRE) — Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE: 3S3) ("Signature" or the "Company") is pleased to announce the results of its 15-hole (3,260-metre) drill program at its 100% owned Lingman Lake Gold Project (“Project”). This initial step-out drill program was designed to test a strong alteration and structural deformation zone (West Zone) which in the past (see press release dated November 5, 2018) produced assays as high as 13.65 g/t gold over 5.0 metres and 12.15 g/t gold over 9.50 metres (drill holes 18-02 and 18-01, respectively). Drilling identified a 200-metre corridor that is interpreted to be similar to the Lingman Lake gold mineralization found to the east. A three-dimensional Induced Polarization (“IP”) survey is currently being conducted on the Project and is more than 70% compete. The results from this program will help fingerprint the mineralization and help vector H2/21 drilling (~10,000-metres) to trace the extent of the mineralized zone.

Highlights:

• The corridor characterized by a structural complex zone of brittle-ductile deformation, variable, quartz veining, sulphide mineralization and alteration of the West Zone was extended beyond the 150-metre depth to vertical depths exceeding 300-metres with variable gold mineralization contained throughout the wide spaced drilling.

• Step out drill hole intercepts, along strike and down dip of the host structure, appear to have defined a variably west plunging (60 to 75-degree) structural corridor up to 200-meters in width from surface to approximately 330-meter vertical depth.

• Depth potential of this corridor remains open.

• The corridor exhibits structural and alteration features that are consistent with the high-grade intercepts of past drilling above 150-metre vertical. Current drilling which delineated this corridor ended up testing less than 20% of this down plunge extent.

• A new zone (WEST SOUTH) located 20 to 30-metres south of the West Zone may have significant exploration potential.

• The Central Zone intersected in holes 21-03, 05 and 08, occurs over a 200-metre strike length west of the north-south striking dike.

• Drill hole 21-08 intersected 1.78 g/t gold over 8.0-metres, at a vertical depth of 280-metres in the West South Zone.

• Drill hole 21-09 intersected 2.00 g/t gold over 7.0-metres, at a vertical depth of 327-metres in the West Zone.

• Drill hole 21-18 intersected 1.34 g/t gold over 7.0-metres, at a vertical depth of 311.0-meteres in the West Zone.

• A property wide LIDAR survey has been completed. This survey will produce products that will enhance surface and bedrock features to assist in target selection for the summer’s prospecting program.

• A high resolution Magnetic and Matrix Very Low Frequency Electromagnetic (VLF) survey is scheduled to flown over the new claims this summer.

“The reconnaissance drill program has outlined a target area plunging 200-metre-wide in the West Zone. We are looking forward to the results of the 3D Induced Polarization survey which will further vector drilling expected to commence in the second half of 2021. Drilling is planned to be conducted with two diamond drill rigs.”

Walter Hanych – Head Geologist, and Director

**Cautionary note: The property hosts a historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) inclusive of the West Zone containing a historical estimate of 109,215 tonnes grading 7.54 g/t. The quantity reported as Historical estimate is historic in nature. The issuer is not treating the Historical estimate as a current resource estimate. A qualified person has not done sufficient work to classify the Historical estimate as a current resource estimate.

Geology and Diamond Drill hole Details (see Exhibits 1,2,3 and 4):

The West Zone occurs along a 450-metre strike length and is the continuation of the North Zone west of the north-south diabase dike. Overall, the combined zones occur along approximately 1,100-metres of strike. The current drill program tested a 290-metre strike portion of the West Zone, which is a complex structural-alteration zone of variable sulphide mineralization, silica and carbonate alteration, brittle-ductile deformation, and variable gold distribution. Thirty-two recent and historical drill intercept lengths within the plunging corridor range from 0.3 to 9.54-metres, the average being 5.0-metres, while grade composite intervals range from 0.2 to 22.6 g/t gold. Fifteen of these intervals are ≥5.0 g/t gold, and 6 are ≥10.0 g/t gold.

The plunging corridor above the 150-meter level has been intersected by 26-holes, and by 6 holes below this level. The target area below this level is outlined in Exhibit – 4.

Geophysical and LIDAR Survey:

To update on exploration; a 3D IP survey is 70% complete. The survey is designed to cover and test the response of the Lingman Lake gold zones to chargeability and resistivity. The survey covers the mine environment and beyond over a strike length of 2,400-metres. It will reach depths of 500-metres potentially capturing the fingerprint of the zones providing target vectoring for the next stage of drilling.

The property wide LIDAR survey has been completed, covering an area of approximately 27,113-hectares. This survey will enhance surface and bedrock features such as structure and folding to assist in target selection for this summer’s prospecting programs.

During the summer, the high resolution magnetic and Matrix VLF survey will be flown over the new ground acquired in 2020 and 2021. This survey, covering 17,602-hectares will tie into the 2018 survey and provide property wide Magnetic and VLF data. This data will compliment to the LIDAR survey to assist with target identification and selection for future follow-up programs.

Qualified Person
The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is a director of the Company.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/59e9a55e-2ae0-45bc-ae7f-44c7a40bab2e

https://www.globenewswire.com/NewsRoom/AttachmentNg/00f77f94-1885-4862-8416-d3ffae89e79a

https://www.globenewswire.com/NewsRoom/AttachmentNg/93647371-6a1c-4e74-a6bd-1f7c54e3a44a

https://www.globenewswire.com/NewsRoom/AttachmentNg/427aab77-a69a-485b-acac-0261ec1ccee8

About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.

*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com

To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:

Jonathan Held
Chief Financial Officer
416-270-9566

Cautionary Notes

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

This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to completion of the IP, LIDAR and VLF surveys, changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Vancouver, British Columbia–(Newsfile Corp. – July 21, 2021) – Southern Silver Exploration Corp. (TSXV: SSV) ("Southern Silver") reported today further assay results from the Cerro Las Minitas project, Durango, Mexico, which continue to extend shallow, strongly silver-enriched sulphide mineralization in the South Skarn target area and identify significant silver and gold assays from the Huizache chimney at the Mina La Bocona target.

The newly released polymetallic sulphide intercepts from the South Skarn target area include:

• a 2.0 metre interval (1.4 metre est. TT) averaging 719g/t Ag, 14.2% Pb and 16.0% Zn (1791g/t AgEq) including a 1.5 metre interval (1.1 metre est. TT) averaging 946g/t Ag, 18.7% Pb and 21.1% Zn (2358g/t AgEq) from drill hole 21CLM-159; and a deeper interval grading

• a 0.5 metre interval (0.4 metre est. TT) averaging 541g/t Ag, 0.1g/t Au, 8.8% Pb and 4.0% Zn (981g/t AgEq) from drill hole 21CLM-159;

These highlight intercepts from drill hole 21CLM-159 which were intersected less than 200 metres below surface, fill a significant gap between mineralization identified in this current 2020-21 drill campaign and that identified in the earlier 2012-13 drilling and help build continuity within the known mineralized zones identified at the South Skarn target. Current modelling has identified three panels of mineralization at the South Skarn target, the largest of which can now be traced laterally for approximately 400 metres and up to 580 metres down-dip.

Southern also reported additional assays from drilling at the Huizache chimney in the Mina La Bocona target area. New Assay results include:

• a 0.8 metre interval (0.5 metre est. TT) averaging 452g/t Ag, 0.5g/t Au, 2.8% Pb and 0.6% Zn (612g/t AgEq) from drill hole 21CLM-158;

• a 0.8 metre interval (0.5 metre est. TT) averaging 27g/t Ag, 3.0g/t Au, 2.8% Pb and 0.6% Zn (612g/t AgEq) from drill hole 21CLM-158; and

• a 1.3 metre interval (0.9 metre est. TT) averaging 312g/t Ag, 0.12g/t Au, 2.8% Pb and 0.6% Zn (612g/t AgEq) from drill hole 21CLM-158;

The Huizache chimney is the third high-grade zone identified in the Mina La Bocona target area where previously reported drilling identified bonanza-grade silver mineralization from the Bocona Chimney (8.0m of 2040g/t AgEq from drill hole 21CLM-131; see NR-01-21) and the Muralla chimney (6.1m of 728g/t AgEq from drill hole 21CLM-125; see NR-02-21). Eight holes have been completed on the Huizache chimney and assays from five of those holes remain pending.

Exploration on the property continues with one drill. Three holes remain to be tested on the east side of the Cerro as part of the current drill program which will then transition to "greenfields" targeting on the El Sol claim over the coming weeks. The El Sol concession, is located 2km to the northwest of the Mina La Bocona target area and covers the northerly projection of previously identified mineralization in the Blind Zone deposits and a second area of artisanal workings. The concession was re-acquired and prospected by Southern in 2020 and returned anomalous values from several strongly oxidized and silicified rocks including a dump sample CLM-316 which assayed 0.67g/t Au, 559g/t Ag, 3.3% Pb and 4.3% Zn.

The current drill program has now completed 54 core holes totaling 21,389 metres since drilling recommenced in September 2020. Assay results from eight drill holes are pending and are anticipated over the coming weeks.

Southern Silver has now tested over 750 metres of strike length along the east side of the Cerro to depths of up to 500 metres, primarily in the South Skarn and Mina La Bocona target areas. Three bonanza grade mineralized zones have been identified and testing of a potential fourth high-grade zone is nearing completion, results of which will be incorporated into the upcoming mineral resource update on the project due in August 2020.

The CLM Project remains one of the largest undeveloped silver-lead-zinc projects in the World and is wholly owned, unburdened by royalties, fully financed and fully permitted.

Figure 1: Plan Map of the Area of the Cerro showing the distribution of the CLM deposits and the location for new drill targeting, at the Mina La Bocona, South Skarn and Las Victorias targets.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5344/90827_9891fcc7440c1b50_002full.jpg

Cerro Las Minitas Project

The Cerro Las Minitas project is an advanced exploration stage polymetallic Ag-Pb-Zn-Cu Skarn/CRD project located in southern Durango, Mexico.

The Cerro Las Minitas project as of May 9^th, 2019 contains a Mineral Resource Estimate, at a 175g/t AgEq cut-off, of⁽¹⁾

• Indicated – 134Moz AgEq: 37.5Moz Ag, 40Mlb Cu, 303Mlb Pb and 897Mlb Zn

• Inferred – 138Moz AgEq: 45.7Moz Ag, 76Mlb Cu, 253Mlb Pb and 796Mlb Zn

A total of 150 drill holes for 67,375metres has been completed on the CLM Project with exploration expenditures of approximately US$27.0 million equating to exploration discovery costs of approximately C$0.09 per AgEq ounce to the end of 2020.

Table 1: Select Assay Intervals from Mina La Bocona and South Skarn targets:

Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis, High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration. AgEq and ZnEq were calculated using average metal prices of: US$20/oz silver, US$1650/oz gold, US$3.25/lbs copper and US$0.9/lbs lead and US$1.15/lbs zinc. AgEq and ZnEq calculations did not account for relative metallurgical recoveries of the metals. Ore-grade composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone Composites have <20% internal dilution, except where noted; anomalous intercepts are calculated using a 10g/t AgEq cut-off.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions.

The Company property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA, which includes patented land, State leases and BLM mineral claims totalling 22.3 sq. km. Targeting has been finalized and bonding pending for a 5,000m drill program, designed to test several copper-molybdenum porphyry and copper-gold skarn targets within a broad quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry centre. Drilling is expected to commence in Q4, 2021.

1. The 2019 Cerro Las Minitas Resource Estimate was prepared following CIM definitions for classification of Mineral Resources. Resources are constrained using mainly geological constraints and approximate 10g/t AgEq grade shells. The block models are comprised of an array of blocks measuring 10m x 2m x 10m, with grades for Au, Ag, Cu, Pb, Zn values interpolated using ID3 weighting. Silver and zinc equivalent values were subsequently calculated from the interpolated block grades. The model is identified at a 175g/t AgEq cut-off, with an indicated resource of 11,102,000 tonnes averaging 105g/t Ag, 0.10g/t Au, 1.2% Pb, 3.7% Zn and 0.16% Cu and an inferred resource of 12,844,000 tonnes averaging 111g/t Ag, 0.07g/t Au, 0.9% Pb, 2.8% Zn and 0.27% Cu. AgEq cut-off values were calculated using average long-term prices of $16.6/oz. silver, $1,275/oz. gold, $2.75/lb. copper, $1.0/lb. lead and $1.25/lb. zinc. Metal recoveries for the Blind, El Sol and Las Victorias deposits of 91% silver, 25% gold, 92% lead, 82% zinc and 80% copper and for the Skarn Front deposit of 85% silver, 18% gold, 89% lead, 92% zinc and 84% copper were used to define the cut-off grades. Base case cut-off grade assumed $75/tonne operating, smelting and sustaining costs. All prices are stated in $USD. Silver Equivalents were calculated from the interpolated block values using relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was used to calculate the ZnEq value. Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource estimates do not account for a resource's mineability, selectivity, mining loss, or dilution. The current Resource Estimate was prepared by Garth Kirkham, P.Geo. of Kirkham Geosciences Ltd. who is the Independent Qualified Person responsible for presentation and review of the Mineral Resource Estimate. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.

Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and supervised directly the collection of the data from the CLM Project that is reported in this disclosure and is responsible for the presentation of the technical information in this disclosure.

On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at https://www.southernsilverexploration.com or contact us at 604.641.2759 or by email at ir@mnxltd.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.

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. 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 to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90827

(Adds details and writes through)

MELBOURNE July 22 (Reuters) – Global miner BHP Group said on Thursday it signed a nickel supply agreement with Tesla Inc and will work with the electric carmaker on lowering carbon emissions in the battery supply chain.

Tesla said in June it expects to spend more than $1 billion a year on battery raw materials from Australia given the country's reliable mining industry and responsible production practices.

Western automaker are also seeking to diversify supply chains to lessen their dependence on China, in line with a policy by U.S. President Joe Biden's administration to rely on allies to supply of the bulk of metals for electric vehicles.

BHP said the metal will be supplied from its Nickel West project in Western Australia which is set to start producing nickel sulphate, a key battery chemical, and one that has much higher margins than nickel metal, in the September quarter.

Nickel makes batteries energy-dense, allowing cars to run further on a single charge.

BHP's nickel division accounts for less than 1 percent its earnings, which are dominated by iron ore.

BHP and Tesla will also look at end-to-end raw material tracing using blockchain, and work on energy storage solutions, the miner said in the statement. (Reporting by Melanie Burton and Nikhil Kurian Nainan in Bengaluru; Editing by Subhranshu Sahu and Richard Pullin)

Freeport-McMoRan Inc. FCX is scheduled to come up with second-quarter 2021 results ahead of the bell on Jul 22. Higher copper prices aided by strong demand and supply constraints are likely to have driven the mining giant’s sales and margins in the second quarter.

Higher Prices to Boost Margins

Freeport’s profitability is expected to have boosted by higher average realized price for copper in the June quarter. The Zacks Consensus Estimate for average realized price for copper for the second quarter stands at $4.21 per pound, reflecting a 65.1% rise year over year.

Copper had a good run so far this year on surging demand driven by a pick-up in manufacturing activities. The red metal has been gaining on a steady growth in manufacturing from China as the country continues its recovery to pre-pandemic levels, thanks to government’s strict virus containment actions, strong domestic demand and government stimulus measures. China’s manufacturing sector remains in the expansion territory despite headwinds from higher raw material costs and chip shortages.

Copper prices have been trending above $4.00 per pound since February 2021 riding on optimism regarding a robust U.S. economic growth, strong demand from China and fears over a supply crunch. Supplies from two major producers, Chile and Peru, have been volatile due to the impact of the pandemic. Inventories are also low due to the pandemic induced slowdown in production.

Prices of the metal reached an all-time high of $4.90 per pound in May. While copper pulled back in late June on China’s announcement of its plans to sell reserves to rein in commodity price surge, prices managed to hold above the $4.00 per pound level. As such, higher prices are likely to have boosted Freeport’s top and bottom lines in the second quarter.

FreeportMcMoRan Inc. Price and EPS Surprise

FreeportMcMoRan Inc. price-eps-surprise | FreeportMcMoRan Inc. Quote

Overall Expectations

The Zacks Consensus Estimate for second-quarter consolidated revenues for Freeport is currently pegged at $5,827 million, reflecting a year-over-year increase of 90.8%. The consensus estimate for earnings is 73 cents, which indicates a substantial rise from the prior-year reported number.

Zacks Model

Our proven model predicts an earnings beat for Freeport this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earning beat.

Earnings ESP: Earnings ESP for Freeport is +0.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Freeport currently carries a Zacks Rank #2.

Stocks That Warrant a Look

Here are some companies in the basic materials space you may want to consider as our model shows they too have the right combination of elements to post an earnings beat this quarter:

LyondellBasell Industries N.V. LYB, scheduled to release earnings on Jul 30, has an Earnings ESP of +15.13% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Dow Inc. DOW, scheduled to release earnings on Jul 22, has an Earnings ESP of +5.57% and sports a Zacks Rank #1.

Celanese Corporation CE, scheduled to release earnings on Jul 22, has an Earnings ESP of +8.38% and carries a Zacks Rank #2.

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Dow Inc. (DOW) : Free Stock Analysis Report

Celanese Corporation (CE) : Free Stock Analysis Report

LyondellBasell Industries N.V. (LYB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Coeur Mining (CDE) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2021. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. 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 silver mining company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of +800%.

Revenues are expected to be $210.04 million, up 36.2% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 8.7% lower over the last 30 days to the current level. 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 an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

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 Coeur Mining?

For Coeur Mining, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -5.88%.

On the other hand, the stock currently carries a Zacks Rank of #3.

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

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. 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 Coeur Mining would post earnings of $0.07 per share when it actually produced earnings of $0.06, delivering a surprise of -14.29%.

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

Coeur Mining 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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Coeur Mining, Inc. (CDE) : Free Stock Analysis Report

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READING, Pa., July 21, 2021 (GLOBE NEWSWIRE) — EnerSys (NYSE: ENS) the global leader in stored energy solutions for industrial applications will host a conference call to discuss the Company’s first quarter of fiscal 2022 financial results and to provide an overview of the business. The call will conclude with a question and answer session.

The call, scheduled for Thursday, August 12, 2021 beginning at 9:00 a.m. Eastern Time, will be hosted by David M. Shaffer, Chief Executive Officer, and Michael J. Schmidtlein, Chief Financial Officer.

A live webcast of the conference call will be available on the Company’s website at http://www.enersys.com under the "Investor Relations" link. Presentation materials to be used in conjunction with the conference call will become available under the aforementioned link the evening before the conference call. There will be a free download of a compatible media player on the company’s website at http://www.enersys.com.

A replay of the conference call will be available from 12:00 p.m. on August 12, 2021 through 12:00 p.m. on September 11, 2021.

For more information, contact Michael J. Schmidtlein, Chief Financial Officer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 610-236-4040 or by emailing investorrelations@enersys.com.

About EnerSys:

EDITOR'S NOTE: EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Energy Systems, which combine enclosures, power conversion, power distribution and energy storage, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, large over-the-road trucks, premium automotive, medical and security systems applications. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. With the NorthStar acquisition, EnerSys has solidified its position as the market leader for premium Thin Plate Pure Lead batteries which are sold across all three lines of business.

More information regarding EnerSys can be found at www.enersys.com.

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

REGINA, SK / ACCESSWIRE / July 21, 2021 / ROK Resources Inc. ("ROK" or the "Company") (TSXV: ROK) announces that the Board of Directors has awarded a total of 4,150,000 options to directors, officers and consultants of the Company. The options are exercisable into common shares in the capital of the Company at an exercise price of $0.28 per share. The options vest as to one third immediately with an additional one third vesting on the first anniversary of the date of grant with the remainder vesting on the second anniversary of the date of grant. The expiry for all options is July 21, 2026.

About ROK

ROK is engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and ROK's common shares are traded on the TSX Venture Exchange under the trading symbol "ROK".

For further information, please contact:

Cameron Taylor, Chairman and CEO
Lynn Chapman, CFO
Phone: (306) 522-0011
Email: info@rokresources.ca

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

SOURCE: ROK Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/656438/ROK-Resources-Announces-Issuance-of-Stock-Options

MISSISSAUGA, Ontario, July 21, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the "Company" or “Canada Carbon” or “CCB”) (TSX-V:CCB), (FF:U7N1) announces that it has acquired 20 additional mining claims, surrounding its two existing claims on the former Asbury Mine site. The total 22 claims (“Asbury claims”) cover 1,205.9 hectares. All the claims are located in zones where exploration and extraction activities are permitted. The Asbury claims are located about 8 kilometers northeast of the municipality of Notre-Dame-du-Laus in the Laurentides Region of southern Quebec.

The Company’s original two claims, totaling 119 hectares, are the location of the former Asbury Graphite Mine, a past producing property. Historical exploration by various companies and subsequent resource evaluations lead to historical production from 1974 to 1988. Open pit mining allowed the historical production of 875,000 metric tons of graphite ore at a cut-off grade of 6% Cg.

Canada Carbon management met with the Mayor of Notre-Dame-du-Laus and the Company was given approval to commence exploration. CCB will begin exploring the Asbury claims thoroughly in the coming months to assess quantity and quality of graphite and potential markets. Canada Carbon will work closely with the municipality to ensure that they are aware of our exploration plans and results. CCB is committed to communicating transparently and proactively with the citizens of the municipality to inform them of the company's actions and answer their questions.

The Asbury claims will be subject to two exploration phases located in two distinct areas.

1. The former Asbury Graphite Mine pit area: Previous exploration work in the vicinity of the historical pit area shows the presence of additional graphite mineralization both along strike and down dip. Of interest is an electromagnetic (“EM”) conductor located southwest from the current pit where up to 2.3% carbon over 40.5 meters (including 4.03% carbon over 11.7 meters) was identified in a diamond drilling program This conductor is defined over 500 meters in a north-south direction. Another parallel conductor exists in the vicinity of the pit and extends over 600 meters (Charbonneau, 2012¹).

2. Regional Electromagnetic (“EM”) conductor anomalies: An airborne EM survey was completed on the northeast area from the Asbury pit in 2013 by Focus Graphite Inc. The survey covered possible extensions from the Asbury deposit and shows multiple conductor anomalies extending northward for more than 4 kilometers (Dubé, 2013²). The southwestern area of the conductor includes the Asbury historical pit while the northeastern area of the conductor includes a graphite showing named MC-8805 which included 8.14% Cg over 18.9 meters in a drill hole. Both ends of the conductors show significant mineralization.

“Graphite has been designated as a critical and strategic mineral by many countries as it is a building block for a greener future. Canada Carbon is very fortunate to have two graphite properties. While we are firmly committed to advancing the Miller Project, the Asbury claims may provide us with flexibility, synergies between the projects and an opportunity to expand our product offerings,” said Olga Nikitovic, Interim CEO.

Steven Lauzier, P.Geo. OGQ, a Qualified Person as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content of this news release.

For further information:

Olga Nikitovic
Interim CEO
Canada Carbon Inc.
info@canadacarbon.com

Valerie Pomerleau
Director Public Affairs and Communications
Canada Carbon Inc.
valerie@ryanap.com
(819) 856-5678

Notes :

1. Charbonneau, Rémi. 2012. Technical Report on the Asbury Graphite Property, In Accordance with National Instrument 43-101, MCGill Township, Quebec, Canada. Submitted to Canada Carbon Inc. Online on the SIGEOM database of the MERN. GM67673. 62 pages.

2. Dubé, Joel. 2013. Heliborne Magnetic and TDEM Survey. Island and Asbury Properties, Laurentides region, Québec, 2013. Submitted to Focus Graphite Inc. Online on the SIGEOM database of the MERN. GM67561. 47 pages. Dubé & Desaulniers Geoscience.

“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).

TORONTO, July 21, 2021 /CNW/ – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN) (FRA: E4X2) ("Excellon" or the "Company") is pleased to announce Q2 2021 production results from the Platosa Mine in Durango, Mexico.

Q2 2021 Production (compared to Q2 2020)

• Silver equivalent ("AgEq") production of 487,009 oz (Q2 2020 – 34,924 AgEq oz), including:

• Fourth consecutive quarter of over 21,000 tonnes mined and milled, with record tonnes mined (86,316) and milled (88,648) over trailing twelve months

"Platosa delivered a fourth consecutive quarter of production at historically high productivity rates," stated Brendan Cahill, President & CEO. "We continue to see room for improvement, with our ongoing work to improve recoveries at Miguel Auza and, additionally, a sizeable inventory of ore and concentrate at quarter-end due to mill maintenance and weather conditions in late June."

Production Results

Strong and consistent production continued in Q2 2021 with continued focus on improving maintenance practices at both sites and enhancing the geological and engineering teams at Platosa. Head grades were lower in Q2 2021 compared to Q2 2020 due to higher mining dilution in narrower sections of the ore body. The Miguel Auza plant continues to focus on improving metal recoveries. Zinc recoveries improved relative to Q1 2021 following plant upgrades in the zinc flotation circuit. More generally, metal recoveries were impacted by weather conditions, power outages and metallurgical variances. The combination of mill maintenance in early June and weather conditions in late June resulted in sizeable stockpiles of ore (1,634 tonnes) and concentrate (154 tonnes of lead and 134 tonnes of zinc) at quarter-end, which were processed and/or delivered in early July.

Comparative results for the three- and six-month periods ended June 30, 2020 were impacted by the suspension of operations in Mexico from April 2, 2020 to June 1, 2020 in response to the outbreak of COVID-19.

The Company expects to file Q2 2021 financial results after close of market on July 29, 2021.

COVID-19 Update

Excellon continues to benefit from robust measures to prevent COVID-19 among the workforce and local communities and to monitor the effectiveness of these measures in mitigating any potential impact on business activities. The Company's actions have been successful to date and the pandemic has not had any material impact on production or shipment of concentrate. Vaccination programs are progressing in Mexico.

Qualified Persons

Paul Keller, P. Eng., Chief Operating Officer, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information relating to production results contained in this press release.

About Excellon

Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders. The Company is advancing a precious metals growth pipeline that includes: Platosa, Mexico's highest-grade silver mine since production commenced in 2005; Kilgore, a high quality gold development project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration. The Company also aims to continue capitalizing on current market conditions by acquiring undervalued projects.

Additional details on Excellon's properties are available at www.excellonresources.com.

Forward-Looking Statements

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding mineral resources estimates, the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Cautionary Note to U.S. Investors: The terms "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource," as used on Excellon's website and in its press releases are Canadian mining terms that are defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). These Canadian terms are not defined terms under United States Securities and Exchange Commission ("SEC") Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Accordingly, note that information describing the Company's "mineral resources" is not directly comparable to information made public by U.S. companies subject to reporting requirements under U.S. securities laws. U.S. investors are urged to consider closely the disclosure in the Company's Form 40-F which may be secured from the Company, or online at http://www.sec.gov/edgar.shtml.

SOURCE Excellon Resources Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/21/c6373.html

By Ernest Scheyder

July 21 (Reuters) – A U.S. federal judge said on Wednesday she will rule by July 29 on whether to temporarily block Lithium Americas Corp from excavating its Thacker Pass site in Nevada, which could become one of the country's biggest lithium mines.

Environmentalists sued earlier this year to block the proposed lithium mine, arguing that it could threaten sage grouse habitats and that the former President Donald Trump's administration erred when it approved it in January.

Chief Judge Miranda Du of the federal court in Reno held a Wednesday hearing to determine whether excavation work at the mine site should first be blocked while she considers the broader question of whether approval should have been issued in the first place.

After a nearly three-hour hearing, Du said she will rule by next Thursday. The company had previously agreed to pause digging through that date, pending the court review.

Environmentalists hope to stop Lithium Americas from minor excavation work needed to determine whether the land holds historical import for Native Americans and others. The project cannot move forward until that work is complete.

Du, an appointee of former President Barack Obama, gave little hint as to which way she may rule and asked probing questions of attorneys for the Vancouver-based company, environmental groups, and the Bureau of Land Management, which is supporting Lithium Americas.

Thacker Pass would be one of the largest lithium mines in the United States if completed, producing 30,000 tonnes of lithium.

Laura Granier, an attorney for Lithium Americas, argued that temporarily blocking the project would harm President Joe Biden's efforts to address climate change, including promoting a switch to cleaner electric vehicles which use lithium-based batteries.

Talasi Brooks, who represented the environmental groups, told Du that any excavation – even if small – could cause irreparable harm to the area's wildlife.

Rival projects from ioneer Ltd and Piedmont Lithium also face opposition.

(Reporting by Ernest Scheyder Editing by Marguerita Choy)

TORONTO, July 21, 2021–(BUSINESS WIRE)–Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) ("Americas" or the "Company") is pleased to provide an update to the re-opening plan for the Company’s Cosalá Operations.

After signing an agreement with the Mexican government and the SNM Union ("Union") to permanently re-open the Cosalá Operations on July 6, 2021, the Company jointly inspected the facilities with Union representatives and Government Labour inspectors. Both the mine and the mill appear to be in good condition. A re-start plan has been developed by local management and reviewed by the Corporate office.

Mexican government inspectors from the Mexican Ministry of Labour will be in Cosalá this week to review the re-start plans, which should allow the Company to begin recalling employees immediately following the completion of the inspection assuming compliance with the terms of the July 6, 2021 agreement.

Based on the favourable condition of the mine, the Company anticipates that both the mine and the mill will be operating by the end of August 2021 and for the Cosalá Operation to be at full capacity by the start of Q4-2021. The operation also has approximately 70,000 tonnes of ore in stockpile that can be processed as a contingency.

Once production has been initiated, it is anticipated that the current higher silver prices will allow the Company to target the higher-grade silver ores in the Upper Zone of San Rafael and develop the silver-copper EC120 project. Mining these silver-rich areas of the Cosalá Operations is expected to significantly increase silver production to over 2.5 million ounces of silver per annum in the years following the re-start. Coupled with the exploration success at the Galena Complex in Idaho, where the Company is targeting to reach peak historical annual production levels of approximately 5 million ounces per year, the Company expects to significantly increase silver production over the next few years.

About Americas Gold and Silver Corporation

Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company owns and operates the Relief Canyon mine in Nevada, USA, the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company also owns the San Felipe development project in Sonora, Mexico. For further information, please see SEDAR or www.americas-gold.com.

Cautionary Statement on Forward-Looking Information:

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, Americas Gold and Silver’s expectations, intentions, plans, assumptions and beliefs with respect to, among other things, estimated and targeted production rates and results for gold, silver and other precious metals, the expected prices of gold, silver and other precious metals, as well as the related costs, expenses and capital expenditures; the reopening at the Cosalá Operations, including the expected production levels and potential additional mineral resources thereat; the expected resolution of the illegal blockade at the Company’s Cosalá Operations and the restart of mining operations, including the expected timing thereof. Often, but not always, forward-looking information can be identified by forward-looking words such as "anticipate," "believe," "expect," "goal," "plan," "intend," "potential’, "estimate," "may," "assume" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future events or performance. Forward-looking information is based on the opinions and estimates of Americas Gold and Silver as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of Americas Gold and Silver to be materially different from those expressed or implied by such forward-looking information. With respect to the business of Americas Gold and Silver, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreak including the COVID-19 pandemic; the impact of COVID-19 on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, the risks in connection with the operations, cash flow and results of the Company relating to the unknown duration and impact of the COVID-19 pandemic; interpretations or reinterpretations of geologic information; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms or at all; the ability to operate the Company’s operations ; and risks associated with the mining industry such as economic factors (including future commodity prices, currency fluctuations and energy prices), ground conditions and other factors limiting mine access, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities, labor relations or disruptions, social and political developments and other risks of the mining industry. The potential effects of the COVID-19 pandemic on our business and operations are unknown at this time, including the Company’s ability to manage challenges and restrictions arising from COVID-19 in the communities in which the Company operates and our ability to continue to safely operate and to safely return our business to normal operations. The impact of COVID-19 on the Company is dependent on a number of factors outside of its control and knowledge, including the effectiveness of the measures taken by public health and governmental authorities to combat the spread of the disease, global economic uncertainties and outlook due to the disease, and the evolving restrictions relating to mining activities and to travel in certain jurisdictions in which it operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward-looking information is available in Americas Gold and Silver’s filings with the Canadian Securities Administrators on SEDAR and with the SEC. Americas Gold and Silver does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Americas Gold and Silver does not give any assurance (1) that Americas Gold and Silver will achieve its expectations, or (2) concerning the result or timing thereof. All subsequent written and oral forward‐looking information concerning Americas Gold and Silver are expressly qualified in their entirety by the cautionary statements above.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210721005840/en/

Contacts

Stefan Axell
VP, Corporate Development & Communications
Americas Gold and Silver Corporation
416-874-1708

Darren Blasutti
President and CEO
Americas Gold and Silver Corporation
416-848-9503

BRISBANE, Australia, July 21, 2021 (GLOBE NEWSWIRE) — Orocobre Limited (TSX: ORL) (ASX: ORE) –

Olaroz Lithium Facility (Olaroz) operations continue to deliver improving cashflows with a Gross Cash Margin of $4,371/tonne following further improvement in the sales price of lithium chemicals and a continued focus on costs.¹ Realised average price was US$8,476/tonne up 45% quarter on quarter (QoQ) on a free on board basis (FOB²) with prices up 170% over the past nine months. Costs were US$4,105/t³. The proportion of battery grade production reached a record level at 66%. Market conditions continue to improve which is reflected in increasing price forecasts by analysts and industry commentators.

OLAROZ LITHIUM FACILITY (ORE 66.5%)⁴

• Activities continue to focus on the health and well-being of our staff, contractors and communities while maintaining production and expansion works with no COVID-19 related stoppages during the period. Approximately 60% of the operational workforce has now had their first dose of a vaccine

• Production of 3,300 tonnes was up 31% on the previous corresponding period (PCP) and up 2% QoQ, despite the proportion of battery grade production increasing to 66% from 55% QoQ

• Sales volume of 2,549 tonnes was up 59% on PCP, but down 16% QoQ due to global shipping delays and the requirement to hold additional stock in Japan to guarantee smooth delivery into the Prime Planet Energy and Solutions (PPES) contract

• Sales revenue was up 22% QoQ to US$21.6 million with the realised average price achieved up 45% QoQ to US$8,476/tonne FOB². Prices have now increased by nearly 170% over the last nine months

• Cash costs (on a cost of goods sold basis)³ were up 5% to US$4,105/tonne on PCP excluding the export tax of US$407/tonne with proportional sales of battery grade material nearly doubling over that period

• Gross cash margin was up materially to US$4,371/t, generating a gross margin of 52%

• In the upcoming half, a proportion of sales will be into contracts that were agreed in December 2020 reflecting prices of that time. The average price in the December half will reflect improved market conditions partially offset by lagged pricing and will be approximately US$9,000/tonne FOB² subject to shipping and delivery schedules

LITHIUM GROWTH PROJECTS

• During the June quarter work at Olaroz Stage 2 continued with strong adherence to the COVID-19 Bio-Security Protocol. At the end of June, most infrastructure is complete, nearly 80% of ponds are built and soda ash and carbonation plants are 10% and 14% complete respectively. Additional accommodation facilities were completed in the quarter with over 650 personnel on site

• Stage 2 is expected to be complete in H1 CY22 and to commence production the following half. Production will ramp up over two years to full capacity of 25,000 tonnes per annum (ktpa) of primary grade lithium carbonate by H2 CY24

• Naraha site operations have continued throughout the period with construction now mostly complete and pre-commissioning works underway. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians

• A scoping study into a further expansion at Olaroz (Stage 3) has commenced. The study will investigate options for additional production of 25-50ktpa from Olaroz, Cauchari or a combination of both, leveraging existing Stage 1 and 2 infrastructure

• Discussions continue with Toyota Tsusho Corporation (TTC) regarding an expansion of lithium hydroxide production to meet forecast growth in demand

_______________
¹ All figures presented in this report are unaudited
² Orocobre report price as “FOB” (Free On Board) which excludes insurance and freight charges included in “CIF” (Cost, Insurance, Freight) pricing. Therefore, the Company’s reported prices are net of freight (shipping), insurance and sales commission. FOB prices are reported by the Company to provide clarity on the sales revenue that is recognized by SDJ, the joint venture company in Argentina
³ Excludes royalties, export tax and corporate costs
⁴ All figures 100% Olaroz Project basis

BORAX ARGENTINA

• Overall sales volume for the June quarter was 11,188 tonnes, up 9% QoQ and down 9% on PCP

• Sales revenue was down 5% QoQ due to lower average prices that were down 13% QoQ due to sales mix

CORPORATE

• On 19 April 2021, Orocobre and Galaxy Resources (ASX:GXY, “Galaxy”) announced that they entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme of Arrangement (Scheme) pursuant to which Orocobre will acquire 100% of the shares in Galaxy

• Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.3% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.7%

• The Scheme booklet was dispatched to Galaxy shareholders on 7 July 2021 and the Scheme meeting for Galaxy shareholders will be held on 6 August with Scheme implementation expected on 25 August

• At 30 June 2021, Orocobre corporate had available cash of ~US$238.3 million of which US$11.1 million and US$109.5 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively

• Including Sales de Jujuy (SDJ) and Borax cash and project debt, net group cash at 30 June 2021 was US$68.1 million, down from US$97.7 million at 31 March 2021

OLAROZ LITHIUM FACILITY

Click here for more information on Olaroz

SAFETY AND COVID-19

During the June quarter the team continued preventive actions to manage any impact from ongoing infections across the country with our first and most effective barrier remaining a strong Bio-Security Protocol. Local communities and including our employees are currently being vaccinated in cooperation with the local Susques hospital. Approximately 60% of the workforce (including contractors) have now been vaccinated with their first dose.

Daily monitoring of the workforce health continues throughout 14 day rosters that apply to all personnel and include those employees who would normally reside in local communities.

Additional accommodation facilities have been installed to enable the growing construction workforce to operate within the COVID-19 Bio-Security Protocol.

Improved safety performance was achieved during FY21 with a TRIFR of 2.3 (FY20: 3.0). By 30 June Olaroz Lithium Facility achieved 124 days without an LTI.

OPERATIONAL UPDATE

QUALITY

Product quality remains a key focus of the operational team. Key metrics such as brine concentration, magnetic particles and product consistency continue to show positive results.

PRODUCTION

Production for the June quarter was 3,300 tonnes, up 31% from 2,511 tonnes in the PCP with 66% of production being battery grade lithium carbonate. Brine concentration remains at higher levels than in recent years resulting in high daily production rates, higher plant recovery and continued low costs.

SALES AND COMMERCIAL

Product sales were 2,549 tonnes of lithium carbonate up 59% on PCP but down 16% QoQ due to global shipping delays and the requirement to hold additional stock in Japan to guarantee smooth delivery into the PPES contract.

Total sales revenue was up 22% QoQ to US$21.6 million and up 245% on PCP which was affected by initial COVID-19 disruptions. The average price received was up 45% QoQ to US$8,476/tonne on an FOB³ basis and up 117% on PCP with significantly stronger pricing relative to a year ago.

In the upcoming half, a proportion of sales will be into contracts that were agreed in December 2020 reflecting prices of that time. The average price in the December half will reflect improved market conditions partially offset by lagged pricing and will be approximately US$9,000/tonne FOB² subject to shipping and delivery schedules.

More than 50% of forecast sales for the September 2021 quarter are expected to be allocated to long term battery grade contracts. The percentage of battery grade product sales is expected to remain above 50% during FY22.

COSTS/MARGINS

Cash cost of goods sold for the quarter (including COVID-19 related costs) increased by only 5% on PCP to US$4,105/tonne³ despite the proportion of battery grade sales nearly doubling. This excludes export duties for the quarter of US$407/tonne. Costs increased by 6% QoQ with the proportion of battery grade sales increasing from 47% to 57% QoQ.

Total cost of sales has been maintained at low levels demonstrating the significant focus and reduction of fixed cost within the operating business. Lower reagent usage due to improved process efficiency and an increase in the export incentive refund with higher product prices have also contributed to the strong cost performance.

Gross cash margins for the quarter returned to being strongly positive at US$4,371/tonne, this is expected to remain positive with supportive pricing in Q1 FY22.

STAGE 2 EXPANSION AT OLAROZ

PROJECT STATUS

During the June quarter work at Olaroz Stage 2 continued with strong adherence to the COVID-19 Bio-Security Protocol. Additional accommodation facilities were completed with more than 650 personnel on site. Most infrastructure is now complete, nearly 80% of ponds are built and the soda ash and carbonation plants are 10% and 14% complete respectively.

Stage 2 is expected to be complete in H1 CY22 and to commence production the following half. Production will ramp up over two years to full capacity of 25ktpa of primary grade lithium carbonate by H2 CY24.

CARBONATION, LIME AND SODA ASH FACILITIES
Carbonate plant soda ash handling facilities construction continued during the quarter with some delays due to COVID-19, bad weather and high winds. Mitigation actions have been identified to minimise any disruption to the schedule. Foundations for the soda ash and carbonation buildings are 91% and 65% complete respectively. All of the steel structure for the carbonation and soda ash plants is on site including cladding, roofing and overhead cranes.

Planning for liming plant #3 is well underway and contracts have been awarded. This additional liming capacity is expected to be available by the end of the year.

FUTURE MILESTONES

Work in H2 CY21 will focus on delivery of additional gas fired power generators, completion of ponds and construction of liming plant #3. In the first half of CY22 all new production wells, soda ash facilities and the carbonation plant will be completed.

NARAHA LITHIUM HYDROXIDE PLANT

PROGRESS TO DATE
The Naraha Plant, the first of its kind to be built in Japan, is designed to convert primary grade lithium carbonate feedstock into battery grade lithium hydroxide. Feedstock for the 10 ktpa Naraha Plant will be sourced from the Olaroz Lithium Facility’s Stage 2 Expansion that will produce primary grade (>99.0% Li₂CO₃) lithium carbonate.

Since construction commenced at the Naraha Plant there have been no LTIs recorded with nearly 250,000 hours worked on the project.

At 30 June, approximately US$56.7 million has been spent on engineering, civil works, electrical, instrumentation, fabrication and procurement at the Naraha Plant. Capex spend has remained relatively static due to the agreed payment schedule with Veolia, the EPC contractor.

Site operations have continued throughout the period with construction now mostly complete and pre-commissioning works underway. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians.

SHARED VALUE PROGRAM AND COMMUNITY

The Shared Value team built on their knowledge of local communities and sustainability with a combination of remote work and a number of visits to communities that are directly and indirectly influenced by the company’s operations. Key actions during the quarter included:

Community Relations

• Management of work rosters within COVID-19 limitations: Communication with Community Coordinators, local government contacts and local suppliers to manage and confirm the date and location of PCR sample collection (COVID-19 tests) and the transfer schedules for rostered employees

• The Shared Value team accompanied provincial officials in the re-commissioning of the Autonomous Photovoltaic Power Plant in Olaroz Chico, which supplies solar electricity to the town. The system capacity has tripled from 50 Kw to 150 Kw. The Shared Value team also participated in the inauguration ceremony of a modular community health centre. The hospital unit has an inpatient ward, pharmacy, laboratory, cardiology area and consulting rooms

• During the month of June, on-site monitoring and follow-up of activities were carried out with local suppliers of laundry services with the aim of strengthening links and encouraging open dialogue

• Construction of Liming Plant N° 3 has been awarded to a local joint venture. It has also been determined that external civil works and HDPE pipe laying will be quoted only with suppliers from the local community

Community development programs

Program to Support Food Independence: Family Food Production Units UPAF
During the quarter, the communities continued harvesting vegetables for the spring-summer season with very good yields; information on production and temperature data continues being collected. The families began preparing the land for sowing of autumn-winter vegetables. The community of Olaroz Chico has completed the construction of their greenhouses and will start planting seedlings. In Coranzulí, the work of the families extended to school greenhouses managing cultural work and planting. The programme was expanded to the production of laying hens to provide animal protein for the families' diets.

Community Investment Programme
The work planned for this period with the Coranzuli Community Hall is 80% complete with an investment of US$25,000. The community values the delivery of the commitment considering the COVID19 context made it difficult to manage the implementation of this initiative.

MARKET

Demand

Demand for lithium chemicals remained strong across all key geographies and customer segments (industrial applications and battery materials) in response to improved business confidence levels.

Customers’ concerns for securing supply also intensified during the June quarter as evidenced by enquires for delivery of volumes in 2021 being higher than originally requested. Existing and prospective customers have also engaged earlier than usual to secure product volumes for future years.

Lithium chemical prices continued to grow during the quarter with strong demand from the Electric Vehicle (“EV”) sector where sales in the period January to May reached two million vehicles (compared to 750k in 2020 and 850k in 2019 over the same months).

Whilst lithium carbonate prices stabilised in China, global weighted average prices reported by Benchmark Minerals increased by 15.6% during the quarter from US$10,752/tonne in March to US$12,432/tonne in June as prices ex- China continued rising and narrowing the gap with China. Lithium Hydroxide prices once again established a premium over carbonate prices during the June quarter with weighted average prices of US$13,873/tonne as reported by Benchmark Minerals.

The commitment from Government, OEMs, and the Energy Sector to accelerate the development of the lithium battery supply chain grew firmly during the June quarter. Planned global capacity of Gigafactory’s increased by ~ 460 GWh (12%) to approximately 4,200 GWh by 2030 based on committed investments announced during the June quarter. Such indicators continue to put pressure on development of lithium chemical supply and widen the estimated supply deficit.

Supply

Estimated lithium chemical production and conversion in China increased to ~20,500 tonnes of lithium carbonate per month during the June quarter from ~14,500 tonnes per month during the preceding nine months. Lithium hydroxide capacity over the same periods increased to ~14,500 tonnes per month from ~12,300 tonnes per month. The overall increase in production of lithium chemicals was in response to the accelerated demand from the EV sector and was partially achieved with incremental supply from Chinese brines during the spring period which assisted in stabilising lithium carbonate domestic prices. Australian spodumene producers also lifted utilisation rates and exports to China benefitting from a significant increase in prices during the period.

New partnerships were established between lithium chemical producers and lithium mineral explorers with the purpose of developing additional supply of lithium chemicals in response to growing demand. Supply forecasts of lithium chemicals have been revised up during the quarter considering recent announcements, however, it continues to fall short of meeting the revised estimates of demand.

BORAX ARGENTINA S.A.

SAFETY

Following a major focus on safety, TRIFR for FY21 has improved to 2.6 from 8.8 in FY20.

Since the safety review last year there have not been any LTI or Environmental incidents at the three operational Borax sites. As at 30 June, Sijes celebrated one year without recordable incidents, Tincalayu achieved 350 days and Campo Quijano has had 309 days without an LTI.

Good progress has been achieved with recycling waste where a new agreement with an external company was signed to utilise some of this material. The first shipment occurred in May with 23 tons of scrap metal and one tonne of batteries. A further shipment occurred in June with five tonnes of plastic material.

The COVID-19 Bio-Security Protocol remains in place at Borax and approximately 40% of employees are now vaccinated with at least one dose.

Intelex is currently being implemented in Borax which will improve reporting, investigation and tracking of corrective actions related to adverse events. The Management team has been trained in leading indicators and KPI objectives were set for FY22. Some of the Dupont initiatives implemented in SDJ are being considered for implementation at Borax.

PRODUCTION, SALES AND OPERATIONAL UPDATE

June quarter sales were 11,188 tonnes, up 9% QoQ and down approximately 9% from the PCP. Total sales revenue was down 5% QoQ with the average price received down 13% QoQ due to lower sales of chemicals and higher sales of lower priced mineral products. Operations have continued under the Orocobre Bio-Security Protocol.

CORPORATE AND ADMINISTRATION

MERGER WITH GALAXY RESOURCES

On 19 April 2021, Orocobre and Galaxy Resources (ASX:GXY, “Galaxy”) announced that they entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme of Arrangement (Scheme) pursuant to which Orocobre will acquire 100% of the shares in Galaxy.

Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.3% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.7%.

The Scheme is unanimously recommended by the Board of Galaxy and each Galaxy Director intends to vote all the shares that they hold in Galaxy in favour of the Scheme (in both cases, subject to no superior proposal emerging and the Independent Expert continuing to conclude that the Scheme is “fair and reasonable” and in the best interests of Galaxy shareholders).

The Scheme is endorsed and supported by the Board of Orocobre, subject to no proposal for Orocobre emerging.

As part of the proposed Scheme, Martin Rowley will become Non-Executive Chairman, Robert Hubbard will become Deputy Chairman, and Martín Pérez de Solay will remain CEO and Managing Director of the merged group, with a highly experienced and complementary Board and management team drawn from the combined group.

The First Hearing in the Supreme Court of Western Australia was conducted on 2 July 2021 and the Court made orders to convene a meeting of Galaxy shareholders to consider and vote on the Scheme and to dispatch an explanatory statement along with the Scheme booklet.

Subsequently, the Scheme booklet was dispatched to Galaxy shareholders on 7 July 2021 and the Scheme meeting for Galaxy shareholders will be held on 6 August.

FINANCE

CASH BALANCE

At 30 June 2021, Orocobre corporate had available cash of ~US$238.3 million of which US$11.1 million and US$109.5 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively.

The US$3.3 million corporate net cash reduction from the previous quarter was the result of US$0.7 million advanced to SDJ Joint Venture as a shareholder loan to largely fund finance payments, US$2.5 million corporate costs and US$0.2 million other project payments partially offset by US$ 0.1 million of net interest income and forex.

Including SDJ and Borax cash and project debt, net group cash at 30 June 2021 was US$68.1 million, down from US$97.7 million at 31 March 2021 due to drawdown of project finance for the Olaroz Stage 2 expansion and Naraha project payments.

ARGENTINA ECONOMIC CONDITIONS

Currency: The official foreign exchange rate depreciated by 4% in the June quarter from AR$92 at 31 March 2021, to AR$95.72 at 30 June 2021. The accumulated 12-month period from 1 July 2020 to 30 Jun 2021 resulted in a ~36% devaluation of the AR$ against the US$.

Inflation: June inflation was 3.2% and accumulated ~11% in the quarter. The accumulated 12-month period from 1 July 2020 to 30 Jun 2021 resulted in inflation of approximately ~50%.

Authorised by:

Rick Anthon
Joint Company Secretary

FOR FURTHER INFORMATION PLEASE CONTACT:

Andrew Barber
Chief Investor Relations Officer
Orocobre Limited
P: +61 7 3720 9088
M: +61 418 783 701
E: abarber@orocobre.com
W: www.orocobre.com

Southern Copper Corporation SCCO is expected to deliver year-over-year improvement in both revenues and earnings when it reports second-quarter 2021 results.

Q1 Results

In the last reported quarter, Southern Copper’s earnings and sales not only beat the Zacks Consensus Estimate but also improved year over year owing to higher prices for copper, silver and zinc.

The company has beat earnings estimates in each of the trailing four quarters, the average surprise being 14.2%.

Southern Copper Corporation Price and EPS Surprise

Southern Copper Corporation price-eps-surprise | Southern Copper Corporation Quote

Q2 Estimates

The Zacks Consensus Estimate for second-quarter 2021 earnings per share is currently pegged at $1.09, suggesting an improvement of 220% from the prior-year quarter. The estimate has remained unchanged over the past 30 days. The consensus mark for the quarter’s revenues is pegged at $2.55 billion, suggesting year-over-year growth of 42.6%.

What the Zacks Model Unveils

Our proven model does not predict an earnings beat for Southern Copper this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Southern Copper is -3.67%.

Zacks Rank: Southern Copper currently carries a Zacks Rank of 3.

Key Factors to Note

Copper represents more than 80% of the company’s sales. Over the past few quarters the company has been witnessing lower production at its Peruvian mines due to lower ore grades and this is expected to continue through 2022. Consequently, the second-quarter production numbers are likely to reflect this impact. This will, however, be somewhat offset by higher production at its Mexican mines and its Mexican underground operations (IMMSA unit) owing to higher production at the San Martin mine.

Overall silver production is likely to be lower on account of lesser production at Buenavista and IMMSA. Production of molybdenum, its main by-product, has been high due of rising production at the Peruvian mines, namely the Toquepala mine after throughput increased at the new Molybdenum plant, spurred by improvements in ore grades and recoveries at other operations. However, this might have been offset by lower production at Buenavista due to lower grades.

Copper prices have gained throughout the second quarter on the back of strong demand from China, while production has been declining in Chile, which is the top producer of the metal. The pickup in global industrial activity has been working in favor of the industrial metal. Average silver prices have been gaining on the back of increase in industrial activity. Zinc prices have gone up in the second quarter on the back of high demand from the steel sector. Higher metal prices might have contributed to the company’s top-line performance in the second quarter and offset the impact of lower production. Operating cash costs are expected to be higher in the to-be-reported quarter due to lower grades. This might get reflected on margins.

Share Price Performance

Image Source: Zacks Investment Research

The company’s shares have gained 41.9% over the past year compared with the industry’s rally of 73.9%.

Stocks to Consider

Here are some Basic Materials stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.

LyondellBasell Industries N.V. LYB has an Earnings ESP of +15.10% and a Zacks Rank of 1, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.

Celanese Corporation CE has a Zacks Rank #2 and an Earnings ESP of +8.38%, at present.

FreeportMcMoRan Inc. FCX, a Zacks #2 Ranked stock, has an Earnings ESP of +0.82%.

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