FRANKLIN, Ind., July 19, 2021 (GLOBE NEWSWIRE) — IBC Advanced Alloys (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”), a leading beryllium and copper advanced alloys company, was pleased to host U.S. Congressman Trey Hollingsworth (R-9th-Ind.) on a recent tour of IBC's expansion and consolidation project now underway at its copper alloys plant in Franklin, Ind.

Rep. Hollingsworth, who represents Franklin in the U.S. Congress, has been very supportive of IBC and the Franklin plant, where workers manufacture a variety of copper-based alloy components for use in commercial and defense industries.

Front-page news media coverage of the Congressman's visit in the Franklin Daily Journal can be seen here.

“This is such great news to see, you know, the excitement here, the energy here, and obviously the continued investment here,” Rep. Hollingsworth said.

IBC is working to complete work on a $5.5 million, 32,000-square-foot expansion of the Franklin plant. The project will allow the Company to consolidate current copper foundry operations at a plant in Pennsylvania into the Franklin plant. This expansion/consolidation project is expected to expand IBC's manufacturing capabilities as well as generate significant fixed cost savings.

“The modernization and consolidation project is proceeding well, and we are very grateful for Congressman Hollingsworth's continuing interest in and support of IBC's operations,” said Mark A. Smith, CEO and Chairman of IBC. “This project will help power a new era of growth and opportunity for IBC's copper alloys division, and I am excited about the prospects for greater efficiencies, cost savings, and enhanced sales that this project should enable.”

For more information on IBC and its innovative alloy products, go here.

On Behalf of the Board of Directors:

"Mark A. Smith”

Mark A. Smith, CEO & Chairman of the Board

CONTACTS:

Mark A. Smith, Chairman of the Board
Jim Sims, Investor and Public Relations
IBC Advanced Alloys Corp.

+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com

@IBCAdvanced $IB $IAALF

ABOUT IBC ADVANCED ALLOYS CORP.

IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, and Pennsylvania. The Company's common shares are traded on the TSX Venture Exchange under the symbol “IB” and the OTCQB under the symbol “IAALF”.

CAUTIONARY STATEMENTS

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this communication. This disclosure contains forward-looking statements, including the Company's expectation that it will successfully complete the Franklin facility expansion and consolidation, and that such expansion / consolidation will result in as much as $3 million in savings in the years following the project's completion. Although IBC believes that the expectations reflected in these forward-looking statements are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward-looking statements made by the Company in this communication are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statement will materialize, and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings at www.sedar.com.

It is hard to get excited after looking at Endeavour Mining's (TSE:EDV) recent performance, when its stock has declined 3.2% over the past month. It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Stock prices are usually driven by a company’s financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. Specifically, we decided to study Endeavour Mining's ROE in this article.

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

View our latest analysis for Endeavour Mining

How To Calculate Return On Equity?

The formula for return on equity is:

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

So, based on the above formula, the ROE for Endeavour Mining is:

5.1% = US$225m ÷ US$4.4b (Based on the trailing twelve months to March 2021).

The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CA$1 worth of equity, the company was able to earn CA$0.05 in profit.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

A Side By Side comparison of Endeavour Mining's Earnings Growth And 5.1% ROE

On the face of it, Endeavour Mining's ROE is not much to talk about. Next, when compared to the average industry ROE of 16%, the company's ROE leaves us feeling even less enthusiastic. Given the circumstances, the significant decline in net income by 17% seen by Endeavour Mining over the last five years is not surprising. However, there could also be other factors causing the earnings to decline. For instance, the company has a very high payout ratio, or is faced with competitive pressures.

So, as a next step, we compared Endeavour Mining's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 29% in the same period.

Earnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is EDV fairly valued? This infographic on the company's intrinsic value has everything you need to know.

Is Endeavour Mining Using Its Retained Earnings Effectively?

In spite of a normal three-year median payout ratio of 45% (that is, a retention ratio of 55%), the fact that Endeavour Mining's earnings have shrunk is quite puzzling. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.

Only recently, Endeavour Mining stated paying a dividend. This likely means that the management might have concluded that its shareholders have a strong preference for dividends. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 21% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 12%, over the same period.

Summary

Overall, we have mixed feelings about Endeavour Mining. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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

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

VANCOUVER, BC, July 19, 2021 /CNW/ – FPX Nickel Corp. (TSXV: FPX) ("FPX" or the "Company") is pleased to announce the appointment of Randy MacGillivray as the Company's Manager, Environment and Government Affairs. Mr. MacGillivray, formerly Regional Manager, Environment and Regulatory Affairs for Centerra Gold, will support FPX's senior leadership in managing the environmental, community and government engagement efforts of the Company's PEA-stage Decar Nickel District in central British Columbia.

"We are happy to add Randy to our fast-growing team and look forward to drawing on his deep experience in managing environmental and community engagement efforts for mining operations in British Columbia," commented Martin Turenne, FPX Nickel's President and CEO. "Randy has a strong track record of respective and collaborative engagement with First Nations governments on several B.C. projects and mines, and has played a hands-on management role in advancing projects through the environmental assessment and permitting process both in B.C. and abroad. As we move our flagship Baptiste project toward a preliminary feasibility study, he will play a critical role in ensuring the Company maintains a high standard of environmental stewardship and mutually beneficial collaboration with our First Nations partners."

Mr. MacGillivray has over 25 years' experience in permitting and community consultation and engagement activities at mining projects and operations in British Columbia and abroad. In his previous role at Centerra Gold's Mount Milligan Mine and Kemess project in British Columbia, he was responsible for negotiating, implementing and maintaining compliance with Impact Benefit Agreement commitments and Environmental Assessment Certificate conditions. This experience included developing and leading joint implementation and environmental management committees with impacted First Nations in central and northern B.C. Prior to joining Centerra, Mr. MacGillivray occupied several senior environmental and community engagement roles in the mining industry, including as Director, Environment and Sustainability for Thompson Creek Metals Company, as Manager, Environment for Coeur Mining and as Environmental Superintendent for Barrick Gold's Eskay Creek and Snip Mines in northwestern B.C. Mr. MacGillivray holds a Bachelor of Science in Geology from the University of British Columbia.

FPX has granted 250,000 stock options to Mr. MacGillivray. The stock options have an exercise price of $0.50 per share and will expire on July 19, 2026.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 km² of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia. The District is a two-hour drive from Fort St. James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni₃Fe), which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, and the B, Sid and Van targets, as confirmed by drilling in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four. Since 2010, approximately US $24 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit, which was initially the most accessible and had the biggest known surface footprint, has been the focus of diamond drilling since 2010, with a total of 82 holes and over 31,000 metres of drilling completed. The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste Deposit. The Van target was not drill-tested at that time as rock exposure was very poor prior to more recent logging activity.

As reported in the current NI 43-101 resource estimate, having an effective date of September 9, 2020, the Baptiste Deposit contains 1.996 billion tonnes of indicated resources at an average grade of 0.122% DTR nickel, containing 2.4 million tonnes of nickel, plus 593 million tonnes of inferred resources with an average grade of 0.114% DTR nickel, containing 0.7 million tonnes of nickel, both reported at a cut-off grade of 0.06% DTR nickel. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600 or ceo@fpxnickel.com.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne, President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/19/c5339.html

VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) — Mr. Ashwath Mehra reports that ASTOR Management AG, a company that he controls, purchased on July 16, 2021 6,668,000 common shares (“Common Shares”) of Fancamp Exploration Ltd. (“Fancamp”) through the TSX Venture Exchange at $0.125 per share for total consideration paid of $833,500.

The purchase of 6,668,000 Common Shares represents Mr. Mehra’s acquisition of beneficial ownership and control of an additional 3.8% of the outstanding Common Shares. Immediately prior to the purchase of the Common Shares, Mr. Mehra had beneficial ownership and control of 24,750,000 Common Shares, representing 14.0% of the outstanding Common Shares. Mr. Mehra currently has beneficial ownership and control of 31,418,000 Common Shares, representing 17.8% of the outstanding Common Shares.

Mr. Mehra has acquired the Common Shares for investment and may acquire additional Common Shares or dispose of Common Shares (through market or private transactions) from time to time.

A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com) or from Mr. Mehra by telephone at +41 41 544 5100.

The head office of Fancamp is 7290 Gray Avenue, Burnaby, BC, V5J 3Z2.

“Ashwath Mehra”

ASHWATH MEHRA

New downloadable digital vaccine records, over-the-counter rapid Antigen Self Tests, online vaccine availability maps, and discounted Lyft rides reinforce Company’s commitment to health and wellness

BOISE, Idaho, July 19, 2021–(BUSINESS WIRE)–In an ongoing effort to help America combat the COVID-19 pandemic, Albertsons Companies (NYSE: ACI) today announced several new important offerings that will help empower its customers to stay well this summer. These offerings build on the Company’s leading efforts in administering 6 million COVID-19 vaccinations to date through its 1,700 pharmacies nationwide.

"As front-line healthcare providers, our pharmacy teams have been heroic in administering millions of vaccinations to our customers across the country and providing them with critical information and solutions during these unprecedented times," said Omer Gajial, Albertsons Companies SVP of Pharmacy and Health. "With these enhancements, we are proud to be able to offer local communities new resources to help keep them safe and make informed decisions about their health as we continue to navigate through this public health crisis together."

Vaccine Records

A free digital vaccine record that can be downloaded and saved to a digital device is being rolled out. Customers who completed their COVID-19 vaccine series through any Albertsons Cos.’ pharmacy will receive an email in the next few days with detailed instructions on how to access their digital vaccine record. This information will also be shared with anyone receiving the vaccine in the future at one of the Company’s pharmacy locations.

Rapid Antigen Self-Tests

The Company is also offering over-the-counter rapid COVID-19 testing. These self-administered tests are a product of Abbott’s BinaxNOW COVID-19 Antigen Self Test and can be used by individuals with or without symptoms who may have been exposed to COVID-19. The tests can be purchased at in store pharmacies and do not require a prescription. Antigen tests can be used on children as young as 2 years old, when administered by an adult.

Each test kit includes two nasal swabs and easy-to-follow instructions. The swabs are intended to be administered within 48 to 72 hours of each other. The tests are minimally invasive and results for symptomatic and asymptomatic individuals are available in as little as 15 minutes.

While the over-the-counter tests may not be covered by insurance, they are an affordable option to quickly provide COVID-19 infection status.

Locating, Booking and Traveling to Vaccine Appointments

Albertsons Cos. and Moderna have teamed up to sponsor a COVID-19 vaccine map on Nextdoor to help users locate nearby vaccine appointment locations. Customers are then redirected from Nextdoor to the Albertsons Cos. scheduling tool to schedule a vaccine appointment, receive a confirmation, and get the second dose scheduled all in under three minutes.

Lastly, the Company is partnering with Lyft to offer discounted rides to and from any of Albertsons Cos.’ pharmacy for vaccinations. When customers make a vaccination appointment at https://www.albertsons.com/pharmacy/covid-19.html they will receive a Lyft discount code in their appointment confirmation email. Lyft discounts are not available in New York or New Jersey. Customers who get vaccinated at an eligible Albertsons Cos. pharmacy will also be provided with a 10% off coupon for grocery purchase, up to $200 (subject to certain exceptions).

Pharmacies participating in these programs include Safeway, Vons, Albertsons, Jewel-Osco, Acme, Shaw’s, Tom Thumb, Randalls, United Supermarkets, Market Street, Haggen, and Carrs.

About Albertsons Companies

Albertsons Companies is a leading food and drug retailer that operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2020, along with the Albertsons Companies Foundation, the Company gave $260 million in food and financial support, including $95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. Albertsons Companies also pledged $5 million to organizations supporting social justice. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans' outreach.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210719005480/en/

Contacts

Kirby Nardo
Kirby.nardo@albertsons.com

Today we will run through one way of estimating the intrinsic value of Energy Fuels Inc. (TSE:EFR) by taking the expected future cash flows and discounting them to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

See our latest analysis for Energy Fuels

The model

We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

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

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$255m

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (1.5%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.2%.

Terminal Value (TV)= FCF₂₀₃₁ × (1 + g) ÷ (r – g) = US$41m× (1 + 1.5%) ÷ (7.2%– 1.5%) = US$731m

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$731m÷ ( 1 + 7.2%)¹⁰= US$365m

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$620m. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of CA$5.9, the company appears around fair value at the time of writing. Valuations are imprecise instruments though, rather like a telescope – move a few degrees and end up in a different galaxy. Do keep this in mind.

Important assumptions

We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Energy Fuels as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.2%, which is based on a levered beta of 1.203. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Looking Ahead:

Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn't be the only metric you look at when researching a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Energy Fuels, we've put together three fundamental aspects you should assess:

1. Risks: For example, we've discovered 5 warning signs for Energy Fuels that you should be aware of before investing here.

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

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

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

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

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

VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) announces it has entered into a definitive agreement (the “Agreement”) with Canamex Gold Corp. to acquire a 100% interest in Canamex’ Bruner Property, a gold exploration, located in Nye County, Nevada approximately 180 kilometres (km) southeast of Reno for US$10 million in cash.

Gold was originally discovered at Bruner in 1906 and the district saw intermittent historic small-scale mining between 1906 and 1998. Recent exploration activities by previous operators included mapping, sampling, geophysical surveys and drilling, culminating in a mineral resource estimate in 2015 and a preliminary economic assessment in 2017 outlining a low capital cost, open pit, heap leach mine operation.

Highlights of the Properties:

• Acquiring a 100% interest totalling 1,457 hectares on patented and unpatented claims, subject to pre-existing NSR royalties, some of which can be repurchased.

• Ideally located within Nevada’s Walker Lane northwest trending mineral belt currently hosting several producing mines and recent discoveries.

• Readily accessible by paved highway and gravel roads only 25 km from the town of Gabbs, Nevada. High voltage power is available approximately 30 km from the project and water rights have been secured.

• Favourable geology with gold and silver occurring in low-sulphidation epithermal veins and in disseminations within sheeted and stockwork zones. Three gold areas have been outlined within a broad 3 km zone of anomalous gold values.

• Historic resources of 342,000 ounces of gold contained in 17.5 million tonnes grading 0.61 grams per tonne in three zones, Paymaster, HRA and Penelas, as estimated by Canamex Gold. Endeavour has not verified this historic resource estimate and is not relying on it. See below for historic resource estimate qualifications.

• Strong potential to discover additional gold and silver mineralization amenable to open pit mining, as shown by surface sampling between Paymaster, HRA and Penelas zones.

• Excellent metallurgy – cyanide leach test results show that each mineralized zone has gold recoveries > 85% for 0.75” to 3.0” crush size with potential for run-of-mine leaching.

• Provides diversification with an advanced stage exploration project in Nevada, USA, a world class, stable mining jurisdiction.

Endeavour CEO, Dan Dickson, commented “We are pleased to add an advanced stage precious metals exploration property to our project pipeline. Bruner represents a good start on building an attractive gold-silver portfolio in Nevada and should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production, and organic growth.

“Our exploration team will focus initially on verifying the historic resources, then turn its attention to the many exploration targets on the Bruner Property. We look forward to unlocking the full potential of the Bruner Property with the goal of building a new mining operation in another historic mining district in Nevada.”

Transaction Summary

Pursuant to the Agreement, Endeavour will pay US$10 million in cash for 100% of the Bruner Gold Project which includes mineral claims, mining rights, property assets, water rights, and government authorizations and permits. Completion of the transactions under the Agreement is subject to customary closing conditions and is subject to Canamex shareholder approval.

The Bruner Gold Project resource estimate was prepared for Canamex Gold in a technical report dated January 22, 2018 titled “NI 43-101 Technical Report on the Bruner Gold Project, Updated Preliminary Economic Assessment, Nye County, Nevada, USA” by Welsh Hagen Associates. The resource estimate was established through surface drilling. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve.

Endeavour is not treating the historical estimate as a current mineral resource or mineral reserve, has not verified the historical resource estimate and is not relying on it. Endeavour plans to “twin” certain drill holes and conduct a drilling program to upgrade the historical estimate as a current mineral resource.

Dale Mah, B.Sc., P.Geo., Endeavour's Vice President Corporate Development, is the Qualified Person who reviewed and approved this news release.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information
Galina Meleger, Vice President, Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements concern the Company’s strategic plans, completion of the Bruner Gold Project acquisition, timing and expectations for the Company’s exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the completion of the Bruner Gold Project acquisition, receipt of shareholder approval by Canamex; conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors including: satisfaction of closing conditions for the Bruner Gold Project acquisition, receipt of shareholder approval by Canamex; the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt of title opinion on the Bruner Property, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Albertsons Companies, Inc. (NYSE:ACI) is about to trade ex-dividend in the next four days. The ex-dividend date is one business day before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. Accordingly, Albertsons Companies investors that purchase the stock on or after the 23rd of July will not receive the dividend, which will be paid on the 10th of August.

The company's next dividend payment will be US$0.10 per share, and in the last 12 months, the company paid a total of US$0.40 per share. Based on the last year's worth of payments, Albertsons Companies stock has a trailing yield of around 2.0% on the current share price of $19.89. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. We need to see whether the dividend is covered by earnings and if it's growing.

View our latest analysis for Albertsons Companies

If a company pays out more in dividends than it earned, then the dividend might become unsustainable – hardly an ideal situation. Albertsons Companies has a low and conservative payout ratio of just 13% of its income after tax. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. The good news is it paid out just 7.0% of its free cash flow in the last year.

It's positive to see that Albertsons Companies's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.

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

Have Earnings And Dividends Been Growing?

Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. That's why it's comforting to see Albertsons Companies's earnings have been skyrocketing, up 167% per annum for the past three years. Albertsons Companies earnings per share have been sprinting ahead like the Road Runner at a track and field day; scarcely stopping even for a cheeky "beep-beep". We also like that it is reinvesting most of its profits in its business.'

Given that Albertsons Companies has only been paying a dividend for a year, there's not much of a past history to draw insight from.

To Sum It Up

Is Albertsons Companies an attractive dividend stock, or better left on the shelf? We love that Albertsons Companies is growing earnings per share while simultaneously paying out a low percentage of both its earnings and cash flow. These characteristics suggest the company is reinvesting in growing its business, while the conservative payout ratio also implies a reduced risk of the dividend being cut in the future. Overall we think this is an attractive combination and worthy of further research.

With that in mind, a critical part of thorough stock research is being aware of any risks that stock currently faces. For example – Albertsons Companies has 3 warning signs we think you should be aware of.

If you're in the market for dividend stocks, we recommend checking our list of top dividend stocks with a greater than 2% yield and an upcoming dividend.

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

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

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. Indeed, Legacy Iron Ore (ASX:LCY) stock is up 433% in the last year, providing strong gains for shareholders. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?

So notwithstanding the buoyant share price, we think it's well worth asking whether Legacy Iron Ore's cash burn is too risky. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

See our latest analysis for Legacy Iron Ore

How Long Is Legacy Iron Ore's Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. In March 2021, Legacy Iron Ore had AU$10m in cash, and was debt-free. In the last year, its cash burn was AU$2.8m. That means it had a cash runway of about 3.7 years as of March 2021. There's no doubt that this is a reassuringly long runway. Depicted below, you can see how its cash holdings have changed over time.

How Is Legacy Iron Ore's Cash Burn Changing Over Time?

Whilst it's great to see that Legacy Iron Ore has already begun generating revenue from operations, last year it only produced AU$321k, so we don't think it is generating significant revenue, at this point. As a result, we think it's a bit early to focus on the revenue growth, so we'll limit ourselves to looking at how the cash burn is changing over time. Over the last year its cash burn actually increased by a very significant 59%. Oftentimes, increased cash burn simply means a company is accelerating its business development, but one should always be mindful that this causes the cash runway to shrink. Admittedly, we're a bit cautious of Legacy Iron Ore due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Easily Can Legacy Iron Ore Raise Cash?

While Legacy Iron Ore does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Legacy Iron Ore has a market capitalisation of AU$102m and burnt through AU$2.8m last year, which is 2.7% of the company's market value. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.

So, Should We Worry About Legacy Iron Ore's Cash Burn?

It may already be apparent to you that we're relatively comfortable with the way Legacy Iron Ore is burning through its cash. For example, we think its cash runway suggests that the company is on a good path. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Separately, we looked at different risks affecting the company and spotted 4 warning signs for Legacy Iron Ore (of which 1 doesn't sit too well with us!) you should know about.

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

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

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

It is hard to get excited after looking at Freeport-McMoRan's (NYSE:FCX) recent performance, when its stock has declined 13% over the past three months. However, stock prices are usually driven by a company’s financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Freeport-McMoRan's ROE in this article.

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

See our latest analysis for Freeport-McMoRan

How To Calculate Return On Equity?

The formula for ROE is:

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

So, based on the above formula, the ROE for Freeport-McMoRan is:

12% = US$2.4b ÷ US$20b (Based on the trailing twelve months to March 2021).

The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.12 in profit.

What Has ROE Got To Do With Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

Freeport-McMoRan's Earnings Growth And 12% ROE

To start with, Freeport-McMoRan's ROE looks acceptable. Be that as it may, the company's ROE is still quite lower than the industry average of 15%. Still, we can see that Freeport-McMoRan has seen a remarkable net income growth of 61% over the past five years. Therefore, there could be other causes behind this growth. For instance, the company has a low payout ratio or is being managed efficiently. However, not to forget, the company does have a decent ROE to begin with, just that it is lower than the industry average. So this also does lend some color to the high earnings growth seen by the company.

Next, on comparing with the industry net income growth, we found that Freeport-McMoRan's growth is quite high when compared to the industry average growth of 14% in the same period, which is great to see.

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Freeport-McMoRan's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Freeport-McMoRan Making Efficient Use Of Its Profits?

Freeport-McMoRan has a really low three-year median payout ratio of 5.5%, meaning that it has the remaining 94% left over to reinvest into its business. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.

Besides, Freeport-McMoRan has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 27% over the next three years. However, Freeport-McMoRan's future ROE is expected to rise to 16% despite the expected increase in the company's payout ratio. We infer that there could be other factors that could be driving the anticipated growth in the company's ROE.

Conclusion

Overall, we are quite pleased with Freeport-McMoRan's performance. In particular, it's great to see that the company has seen significant growth in its earnings backed by a respectable ROE and a high reinvestment rate. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

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

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

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So shareholders might well want to know whether insiders have been buying or selling shares in Aurelia Metals Limited (ASX:AMI).

What Is Insider Selling?

It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, most countries require that the company discloses such transactions to the market.

We don't think shareholders should simply follow insider transactions. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year'.

View our latest analysis for Aurelia Metals

Aurelia Metals Insider Transactions Over The Last Year

Over the last year, we can see that the biggest insider purchase was by Independent Non-Executive Director Robert Vassie for AU$100k worth of shares, at about AU$0.40 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of AU$0.47. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

Aurelia Metals insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Aurelia Metals is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insider Ownership

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Aurelia Metals insiders own 3.4% of the company, worth about AU$20m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Do The Aurelia Metals Insider Transactions Indicate?

The fact that there have been no Aurelia Metals insider transactions recently certainly doesn't bother us. But insiders have shown more of an appetite for the stock, over the last year. Insiders own shares in Aurelia Metals and we see no evidence to suggest they are worried about the future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Aurelia Metals. Case in point: We've spotted 3 warning signs for Aurelia Metals you should be aware of.

Of course Aurelia Metals may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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

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

(Updates with Samarco comments)

SAO PAULO, July 16 (Reuters) – Creditors in bankrupt miner Samarco Mineracao SA, a joint venture between Vale SA and BHP Group PLC, objected to the company's restructuring plan on Thursday, according to a court document.

Creditors said the plan's main goal is to protect Samarco's giant shareholders, Vale and BHP, and reduce future payments to creditors.

They also rejected Samarco's offer to apply an 85% haircut to all creditors, including shareholders Vale and BHP, which extended 24 billion reais in loans to the company. Payments would occur in 2041.

Creditors said both Vale and BHP, as shareholders, should be paid only after all other creditors fully recover their money. They also questioned if both giant companies should recover any value as creditors consider that both miners are co-debtors.

They also refused Samarco's offer to swap their debt into shares in the company.

"It is unacceptable that a restructuring plan of a company controlled by the world's biggest miners outlines an outright (and illegal) debt forgiveness to create value for its multimillionaire shareholders, which are also responsible for Brazil's biggest environmental disaster," creditors said in the court document.

The collapse of a dam at the Samarco mine complex in 2015 killed 19 people, severely polluted the Doce River with mining waste and led the company into financial trouble.

Creditors have proposed Samarco, Vale and BHP pay in three equal parts for all damage caused by the rupture of the dam, creditors lawyers Paulo Padis and Marcos Pitanga said in an interview. That contrasts with Samarco's restructuring plan, which proposes the company pay for the damage entirely.

Both creditors and Samarco said they have recently signed confidentiality deals to start negotiations.

Samarco said in a statement that the proposed restructuring plan takes into consideration the company's financials and aims at keeping payments to repair damage caused by the disaster. It added creditors have not presented any alternative plan so far.

(Reporting by Carolina Mandl; Editing by Sam Holmes and Nick Macfie)

According to the U.S. Geological Survey, China was responsible for 80% of rare earth imports in 2019. While the pandemic caused disruptions in the supply chain and exports fell short last year, China’s dominance over the rare earth market cannot be denied. After all, the country currently holds about 70% of the world’s known rare earth reserves.

The group of 17 elements is used in electric vehicles (EV), batteries, renewable energy systems and a wide range of electric appliances, ranging from smartphones, display panels, speakers, televisions and more. Cerium and neodymium are commonly used in smartphones, flat-screen TVs and LED lights as well as in F-35 fighter jets and missiles, radar and lasers by the U.S. Department of Defense. Elements like lanthanum are used in oil refining.

America is making an effort in upping its game in rare earth element production as several big trends are at play. President Joe Biden’s administration has massive investments planned in climate change technology, and rare earth elements are essential to this change. However, as the name suggests, these elements are not widely available, and extracting, processing and refining these elements entail several political and environmental issues.

Recently, Lynas Rare Earths Limited (LYSCF) received a $30-million grant from the U.S. government to open a new processing facility with Blue Line. The plant is one of the many rare earth production plants that Biden hopes to open in order to boost production and reduce reliance on China for the elements. On Jul 13, the Senate Democrats reached an agreement on a $3.5-trillion budget plan that encompasses an expansion in Medicare, fund climate change initiatives and fulfill other parts of Biden’s economic agenda. The Democrats hope to pass this budget plan on top of a bipartisan infrastructure bill, which will surely aid the rare earth mining space.

As Biden plans to boost the EV market, supply-chain vulnerabilities might pose hindrances. In February, Biden ordered a federal review analysis of supply-chain vulnerabilities to make better investments in mines abroad and boost refining. To address issues on groundwater and air pollution, as rare earth mining creates radioactive waste byproducts, the White House holds up an Initiative for Responsible Mining Assurance as a model for the mining industry. This model includes mining companies, unions and groups of advocates, and plans to create environmental and human rights principles for this industry. In fact, it emphasizes getting prior and informed consent from Indigenous communities and local residents before mineral processing operations. Additionally, mining and processing companies have to arrange for the permanent disposal of toxic waste and build waste treatment facilities.

5 Stocks to Keep an Eye on

It may take America time to lower its reliance on China for rare earth elements but the new government funding will boost production which open up investment opportunities that investors should watch out for. Per a Valuates.com report, the global rare earth elements market size is projected to reach $3757.7 million by 2026, up from $2664.5 million in 2020, at a CAGR of 5.9%.

BHP Group BHP engages in the exploration, development, and production of oil and gas properties, and also engages in mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal. The company's expected earnings growth rate for the current year is more than 100% compared with the Zacks Mining – Miscellaneous industry’s projected earnings growth of 18.9%. The Zacks Consensus Estimate for the company’s current-year earnings has been revised 21.7% upward over the past 60 days. BHP Group currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Materion Corporation MTRN produces PVD rare earth elements for modern technologies and supports most major OEM thin film deposition platforms. The company's expected earnings growth rate for the ongoing year is 57.1% compared with the Zacks Mining – Miscellaneous industry’s projected earnings growth of 18.9%. The Zacks Consensus Estimate for the company’s current-year earnings has been revised nearly 1% upward over the past 60 days. Materion holds a Zacks Rank #2 (Buy), at present.

Tronox Holdings plc TROX operates titanium-bearing mineral sand mines, and beneficiation and smelting operations. The company's expected earnings growth rate for the current year is more than 100% compared with the Zacks Chemical – Diversified industry’s projected earnings growth of 27.6%. The Zacks Consensus Estimate for the company’s current-year earnings has been revised 6.7% upward over the past 60 days. Tronox presently carries a Zacks Rank #3 (Hold).

MP Materials Corp. MP engages in the ownership and operation of integrated rare-earth mining and processing facilities. This Zacks Rank #3 company's expected earnings growth rate for 2021 is 81.5% compared with the Zacks Mining – Miscellaneous industry’s projected earnings growth of 18.9%. The Zacks Consensus Estimate for the company’s current-year earnings has been revised nearly 29% upward over the past 90 days.

Freeport-McMoRan Inc. FCX engages in the mining of mineral properties. This Zacks Rank #3 company's estimated earnings growth rate for the ongoing year is more than 100% against the Zacks Mining – Non Ferrous industry’s projected earnings decline of 1.3%. The Zacks Consensus Estimate for the company’s current-year earnings has been revised 10.2% upward over the past 60 days.

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It’s never easy to pick stocks to buy for the second half of a calendar year. That’s especially true when the markets are hotter than a pistol — which they are in 2021.

As of July 14, the S&P 500 was up 18.31% year-to-date (YTD). That’s an annualized return of almost 34%. Since 1928, the index has done better on just six occasions, the last being in 1995.

Ultimately, I want to give suggestions that can make money for readers over the long haul and not just the remaining five months of this year.

InvestorPlace – Stock Market News, Stock Advice & Trading Tips

With that in mind, a strategy based on 10 momentum stocks could backfire if the markets cool off in the second half. But on the other hand, if I go with 10 tried-and-true stocks and the markets stay hot, you’re likely to underperform relative to the index.

• 
  7 of the Best Contrarian Stocks to Buy as Others Get Greedy

Therefore, I’ll try to have my cake and eat it too. These 10 stocks have high free cash flow (FCF) yields and are trading at or near the index’s YTD return:

• BHP Group (NYSE:BHP)

• ViacomCBS (NASDAQ:VIAC)

• Columbia Sportswear (NASDAQ:COLM)

• Nomad Foods (NYSE:NOMD)

• TechnipFMC (NYSE:FTI)

• Orix Corporation (NYSE:IX)

• Jazz Pharmaceuticals (NASDAQ:JAZZ)

• Masonite International (NYSE:DOOR)

• Paramount Group (NYSE:PGRE)

• Genpact (NYSE:G)

Stocks to Buy: BHP Group (BHP)

Source: Shutterstock

As with all my stock galleries, I try to provide sector diversification. I would like to load up on stocks in industries I enjoy, such as the consumer cyclical or consumer defensive sectors. But as my dad used to say — and he was generally an optimist — “Life is to be endured.” So, I endure by selecting a materials stock.

BHP Group is the world’s largest mining conglomerate. Based in Australia, it has a YTD return of 15% and an FCF yield of 5.6%. As for BHP stock’s rating, of the 15 analysts that cover it, nine rate it as either a buy or overweight. Only two rate it as underweight or an outright sell.

For the trailing 12 months (TTM) ended March 31, BHP had $46.3 billion in revenue. That’s higher than it’s been at any point in the past three years. Over the same period, the company has seen $16.6 billion in operating income.

I consider companies with FCF yields between 4% and 8% to be very attractive long-term investments.

ViacomCBS (VIAC)

Source: Jer123 / Shutterstock.com

The media conglomerate’s stock has gathered speed in the past three months. In that time, VIAC shares have risen 4% in response to rumors that the company may be the subject of a bid by Comcast (NASDAQ:CMCSA).

The main attraction for Comcast would be ViacomCBS’ Paramount+ streaming service. The telecommunications company has its own streaming unit, Peacock, as part of its NBCUniversal media conglomerate. Combining both services would put Comcast in a good position to capture the coveted number-three spot in the lucrative streaming industry.

Paramount+ is adding several items to its streaming repertoire this summer. Most notably, the service will stream hundreds of live soccer-related events like the Men’s Concacaf World Cup Qualifiers.

Tom Ryan, president and chief executive officer of ViacomCBS Streaming, said, “The breadth and depth of premium feature films and exclusive series coming to the service further strengthens our position in the market as a premium entertainment destination and, by offering this compelling content portfolio at an all-new low cost, makes us even more accessible to a wide consumer audience.”

• 
  7 Stocks to Buy if You’re Worried About the Pandemic Like Warren Buffett

When you consider the boost Disney (NYSE:DIS) has gotten from Disney+, ViacomCBS executives have good reason to be excited.

Stocks to Buy: Columbia Sportswear (COLM)

Source: Ekaterina_Minaeva / Shutterstock.com

On average, the 12 analysts covering COLM stock rate it overweight with a 12-month target price of $127. That’s 28% upside at current prices.

In April, COLM stock hit its all-time high of $114.98. Up nearly 25% over the past year, CEO Timothy Boyle must be very happy with its run of late. Boyle’s shares are now worth $2.3 billion.

The board of directors could use a few more women — of the nine members, just two are female. It could also benefit from a few younger members, as the average director’s age is 68. But there’s no doubt that they are a group of very talented individuals.

Normally I’m not a fan of boards that are particularly ancient, especially when it comes to consumer-facing products such as apparel and footwear. But in Columbia’s case, the proof is in the pudding.

The company has managed to produce returns for shareholders in recent years. I see good things happening in the long term for investors in COLM stock.

Nomad Foods (NOMD)

Source: defotoberg / Shutterstock.com

If you haven’t heard of Nomad, it’s the largest frozen food company in Europe. In the U.S., the company is the third-largest of its kind, with Nestle (OTCMKTS:NSRGY) and Conagra Brands (NYSE:CAG) in the top two spots.

In March, Nomad announced that it will acquire Fortenova’s frozen food business. The company’s Ledo and Frikom brands are well-known to consumers in Central and Eastern Europe. Nomad paid 615 million Euros ($726 million) for the frozen food group. That’s less than 10 times the group’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).

Nomad’s Green Cuisine brand is Europe’s fastest-growing frozen meat-free brand. In 2020, its retail sales grew by 299%. That’s almost five times faster than Beyond Meat (NASDAQ:BYND), which saw 65% growth in the same timeframe.

Another reason to like Nomad is that Sir Martin Franklin owns 7.4% of its stock. Franklin is a company builder with a success rate matched by few others.

As for the analysts’ perspective, 10 cover NOMD stock, with nine rating it a buy and one rating it overweight. They list a median target price of $28.66. I think we’ll see a bunch of revisions for this stock in the next few months.

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Nomad’s TTM FCF is $410.6 million. Based on a market cap of $4.9 billion, it has an FCF yield of 8.4%. I consider that to be value territory.

Stocks to Buy: TechnipFMC (FTI)

Source: abu emran / Shutterstock.com

If we were talking about weaknesses in stock coverage, the energy sector would be at the top of the list. I don’t see the point in covering businesses that probably won’t exist in a decade or two.

TechnipFMC was created during the January 2017 merger of FMC Technologies and Technip. The combination created a global leader in subsea and surface technologies. TechnipFMC also provides services to oil and gas exploration and production companies.

In the first quarter of 2021, the company’s subsea operations generated revenue of $1.39 billion, an 11% increase from last year. TechnipFMC’s subsea operations account for 85% of its overall revenue and has a backlog of $6.86 billion.

In 2021, the company expects to see revenue of at least $6.05 billion with an EBITDA margin in the low double digits.

In Q1, it had an FCF of $137 million. For the TTM ended March 31, its FCF was $620 million, implying an FCF yield of 18%.

I’m not a fan of energy stocks, but it’s hard not to notice FTI stock’s value at current prices.

Orix Corporation (IX)

Source: shutterstock.com/CC7

It’s always nice to be able to include a stock that I’ve previously recommended. In the case of Orix, I suggested investors take a look at the Japanese diversified financial services company in May 2020.

I recommended Orix partially because of its U.S. division, which has its hands in all kinds of financial pies. It manages more than $70 billion in assets.

Fast forward to today, and IX stock is up 48% over the past 14 months. Its momentum doesn’t look like it will slow in the second half of 2021.

I believe this despite the fact that fiscal 2021 wasn’t one of the company’s best years on record. On the top line, revenue grew by less than 1% to 2.293 trillion Japanese Yen ($20.7 billion). Its pre-tax income fell 30% to 287.5 billion Japanese Yen ($2.6 billion).

There are a lot of moving parts in Orix’s business. For example, Orix USA’s revenue was up 2% in 2021, but its segment profits fell 23%. The latter decline was primarily due to the sale of equity ownership in Houlihan Lokey (NYSE:HLI) in fiscal 2020.

• 
  7 Best Stocks To Buy Now if You Want To Get In at the Bottom

I suggest you visit Orix’s various sites, including its investor relations page. It’s a diamond in the rough.

Stocks to Buy: Jazz Pharmaceuticals (JAZZ)

Source: Michael Vi / Shutterstock.com

If there’s one thing I like to see from most non-financial stocks, it’s strong free cash flow.

Jazz Pharmaceuticals, a developer of medicines for neuroscience and oncology-related treatments, has excellent FCF. In the trailing 12 months, it had $750 million in FCF and an FCF yield of 6.8%.

Many cannabis investors jumped on JAZZ stock after the company acquired GW Pharmaceuticals in May for $7.6 billion in cash and stock.

GW’s cannabis-based medication Epidiolex treats children with rare types of early-onset epilepsy. In 2020, revenue from Epidiolex grew by 73% to $511 million. This growth, in addition to the company’s sleep disorder medicine Xyrem, shows that Jazz has the makings of a major player in the drug development industry.

Of the 17 analysts covering JAZZ, 15 rate it a buy, one rates it overweight, and one rates it a hold. In their eyes, it’s a clear buy with a target price of $208.82.

Masonite International (DOOR)

Source: David Papazian / Shutterstock

It wouldn’t be a proper gallery from a Canadian writer if it didn’t have a Canadian company in its midst. Masonite, a Toronto-based manufacturer of doors, fits the bill nicely.

Masonite’s history dates back to 1925, but the Canadian connection didn’t happen until 1999. That’s when Premdor Inc. entered into a strategic alliance with Masonite Corp., then owned by International Paper (NYSE:IP). A year later, Premdor acquired Masonite from IP for $523 million. Once the acquisition closed, the Premdor name was replaced with Masonite.

Masonite had sales of $301 million in 1999. In 2020, they were $2.26 billion with a TTM FCF of $230 million and an FCF yield of 8.5%.

As for Masonite’s business, it generates 73% of its sales from the North American residential market. Europe accounts for another 11% of sales, and its architectural business is responsible for the rest.

It is one of only two vertically integrated residential interior door manufacturers in North America. New residential construction accounts for 45% of its North American sales, while the renovation market accounts for the remaining 55%.

• 
  The 7 Best Tech Stocks to Buy in July

The company is continuing to grow its margins. In 2015, its adjusted EBITDA margin was 10.9%. Today, it’s over 16%. That’s how you grow free cash flow.

Stocks to Buy: Paramount Group (PGRE)

Source: ImageFlow/shutterstock.com

Paramount Group is a real estate investment trust (REIT) focused on owning the best assets in the best markets and providing top-notch service for tenants.

Founded in 1978, it owns properties in New York, San Francisco and Washington, D.C. Its 19 assets are valued at approximately $13.5 billion. These properties cover 13.9 million square feet of leasable space and generate $358 million in annualized cash net operating income.

New York City accounts for 70% of the REIT’s gross asset value and 62% of its leasable square feet.

While the REIT’s office real estate accounts for a concerning 96% of its revenue, the quality of its properties enables it to charge top dollar rents compared to its peers. Further, none of its largest tenants accounts for more than 4.5% of its annual rent. Most importantly, 32% of its leases will not expire until 2031 or thereafter.

Despite Covid-19 affecting its business, Q1 2021 saw the REIT deliver $50.6 million in core funds from operations. That was down from $61.5 million a year ago, but still very positive. As re-openings accelerate, its earnings will too.

Genpact (G)

Source: Shutterstock

Genpact helps Global Fortune 500 companies transform their digital operations to deliver a world that works better for people.

In the first quarter, all Genpact’s financial metrics exceeded expectations. Revenues grew 1%, excluding currency, to $946 million while adjusted earnings per share rose 11% to 59 cents.

For all of 2021, Genpact expects revenue of at least $3.93 billion, 5% higher than last year, with an adjusted EPS of $2.27.

A real-world example of Genpact’s work is its partnership with Envision Virgin Racing, a Formula E racing team. The partnership aims to make the team’s electric vehicles as efficient as possible during Formula E races.

“Genpact’s technology helps Envision Virgin Racing do this with data analytics and augmented intelligence — the combination of machine-generated insights and human know-how, context, and experience — that engineers, drivers, and pit crew rely on during races to make quick decisions and shift strategies,” Fast Company reported on July 12.

Now, multiply this by hundreds of companies across many different industries, and you have the makings of a successful business services provider.

Genpact currently has an FCF yield of 6.7%, which can provide investors with an excellent entry point.

On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.

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Rio Tinto plc’s (RIO) iron ore shipments in the second quarter of 2021 declined 12% year over year to 76.3 million tons (Mt) as storms affected its West Australian operations. This takes total iron ore shipped by the company to 154.1 Mt for the first half of 2021, which reflects a 3% drop year over year. Iron production in the first half of 2021 came in 5% lower than the prior year, due to weather and labor constraints. Both shipments and production reported by the company in the first half of 2021 marks its weakest performance since 2015.

Iron ore production in the second quarter was down 9% year over year to 75.9 Mt. The company stated that the shortfall was due to above average rainfall in the West Pilbara, shutdowns to enable replacement mines to be tied in, processing plant availability and cultural heritage management. In the first quarter, the company’s iron production dipped 2% to 76.4 Mt on account of above average wet weather in the mines through February, and fixed plant reliability and labor resource availability. Ongoing travel restrictions due to COVID-19 and a tight labor market in Western Australia have been impacting the company’s ability to access experienced contractors and particular skill sets. Overall, in the first half of 2021, the company has produced 152.3 Mt of iron ore, which is 5% lower than the prior year comparable period.

Rio Tinto raised its iron ore production cost guidance for 2021 citing higher input costs (diesel and labor), costs related to mine heritage management as well as COVID-19 related expenses. The company has so far incurred around $100 million of COVID-19 related costs.

Due to this underperformance, Rio Tinto now expects to ship near the lower end of its range of its previous guidance of 325 Mt to 340 Mt in 2021. The company stated that the guidance remains subject to weather conditions, tie-in and ramp up of brownfield replacement mines, and ongoing cultural heritage management. The labor constraints also persist and will continue to impact operations. Brazilian miner Vale S.A VALE had reported a 14.2% year-over-year increase in its first quarter 2021 iron ore production to 68 Mt courtesy of the company’s ongoing operational stabilization and resumption plan. It is set to release its second-quarter production report on Jul 19, 2021. The company’s iron ore production guidance for 2021 is in the range of 315 Mt to 335 Mt. Meanwhile, BHP Group BHP anticipates producing between 245 Mt and 255 Mt of iron ore in fiscal 2021.

These companies will benefit from higher iron ore prices this year. Iron ore prices have gained around 40% so far this year and are currently trending above $220 per ton. Prices had hit a record high of $232 on May 12 on declining stockpiles and concerns over supply. Meanwhile, iron ore demand from China is benefiting from rise in infrastructure spending and renewed vigor in manufacturing activity. Despite the China government’s efforts to curb steel output to reduce carbon emissions, demand for iron ore showed resilience as mills that were not subject to output curbs continued to ramp up production. Healthy profit margins buoyed by higher demand and a rally in steel prices have led to a rise in production.

The World Steel Association projects steel demand to grow 5.8% in 2021 and reach 1,874 Mt. China's steel demand is expected to improve 3% this year. Further, the ongoing recovery in automotive and constructions sectors across the world will drive demand for steel and thereby for iron ore. In the United States, massive government spending to rebuild infrastructure including railroads, highways and bridges will significantly boost steel demand, thus fueling the requirement of more iron ore.

Image Source: Zacks Investment Research

In the past year, shares of Rio Tinto have gained 38.8%, compared with the industry’s rally of 31.2%.

Rio Tinto currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Another top-ranked stock in the basic materials space is Nucor Corporation NUE which flaunts a Zacks Rank #1.

Nucor has a projected earnings growth rate of 259.9% for the current year. The company’s shares have soared around 131% over the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Rio Tinto PLC (RIO) : Free Stock Analysis Report

Nucor Corporation (NUE) : Free Stock Analysis Report

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VALE S.A. (VALE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Celebrations may be in order for First Majestic Silver Corp. (TSE:FR) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The consensus statutory numbers for both revenue and earnings per share (EPS) increased, with their view clearly much more bullish on the company's business prospects.

Following the upgrade, the current consensus from First Majestic Silver's dual analysts is for revenues of US$637m in 2021 which – if met – would reflect a substantial 68% increase on its sales over the past 12 months. Statutory earnings per share are anticipated to dive 25% to US$0.20 in the same period. Previously, the analysts had been modelling revenues of US$488m and earnings per share (EPS) of US$0.13 in 2021. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates.

View our latest analysis for First Majestic Silver

Despite these upgrades, the analysts have not made any major changes to their price target of CA$21.00, suggesting that the higher estimates are not likely to have a long term impact on what the stock is worth. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic First Majestic Silver analyst has a price target of CA$25.00 per share, while the most pessimistic values it at CA$15.00. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The analysts are definitely expecting First Majestic Silver's growth to accelerate, with the forecast 100% annualised growth to the end of 2021 ranking favourably alongside historical growth of 8.7% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 3.3% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect First Majestic Silver to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts upgraded their earnings per share estimates for this year, expecting improving business conditions. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. The lack of change in the price target is puzzling, but with a serious upgrade to this year's earnings expectations, it might be time to take another look at First Majestic Silver.

Using these estimates as a starting point, we've run a discounted cash flow calculation (DCF) on First Majestic Silver that suggests the company could be somewhat undervalued. For more information, you can click through to our platform to learn more about our valuation approach.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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

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

(Adds BHP, Vale comments, photo)

By Carolina Mandl

SAO PAULO, July 16 (Reuters) – Creditors of bankrupt miner Samarco Mineracao SA, a joint venture between Vale SA and BHP Group Plc, objected to the company's restructuring plan on Thursday, according to a court document.

Creditors said the plan's main goal is to protect Samarco's giant shareholders, Vale and BHP, and reduce future payments to creditors.

They also rejected Samarco's offer to apply an 85% haircut to all creditors, including shareholders Vale and BHP, which extended 24 billion reais in loans to the company. Debt payments to creditors would occur in 2041.

Creditors said both Vale and BHP, as shareholders, should be paid only after all other creditors fully recover their money. They also questioned if both giant companies should recover any value as creditors consider that both miners are co-debtors.

They also refused Samarco's offer to swap their debt for shares in the company.

"It is unacceptable that a restructuring plan of a company controlled by the world's biggest miners outlines an outright (and illegal) debt forgiveness to create value for its multimillionaire shareholders, which are also responsible for Brazil's biggest environmental disaster," creditors said in the court document.

They referred to the collapse of a dam at the Samarco mine complex in 2015 that killed 19 people, severely polluted the Doce River with mining waste and led the company into financial trouble.

Creditors have proposed Samarco, Vale and BHP pay in three equal parts for all damage caused by the rupture of the dam, creditors lawyers Paulo Padis and Marcos Pitanga said in an interview. That contrasts with Samarco's restructuring plan, which proposes the company pay for the damage entirely.

Creditors and Samarco have recently signed confidentiality agreements to start negotiations.

Samarco and Vale said in separate statements that the proposed restructuring plan takes into consideration the company's financials and aims at keeping payments to repair damage caused by the disaster.

BHP said loans extended to Samarco to allow its continuity in the last five years were at terms similar to credit lines taken by the miner before the disaster.

Samarco added creditors have not presented any alternative plan so far.

(Reporting by Carolina Mandl; Editing by Nick Macfie and Steve Orlofsky)

The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on the bright side, you can make far more than 100% on a really good stock. For instance, the price of BHP Group (ASX:BHP) stock is up an impressive 169% over the last five years. We note the stock price is up 4.8% in the last seven days.

See our latest analysis for BHP Group

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

During the last half decade, BHP Group became profitable. Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. Since the company was unprofitable five years ago, but not three years ago, it's worth taking a look at the returns in the last three years, too. We can see that the BHP Group share price is up 58% in the last three years. During the same period, EPS grew by 14% each year. This EPS growth is reasonably close to the 16% average annual increase in the share price (over three years, again). So one might argue that investor sentiment towards the stock hss not changed much over time. Rather, the share price has approximately tracked EPS growth.

You can see how EPS has changed over time in the image below (click on the chart to see the exact values).

This free interactive report on BHP Group's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

What About Dividends?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of BHP Group, it has a TSR of 253% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!

A Different Perspective

We're pleased to report that BHP Group shareholders have received a total shareholder return of 43% over one year. That's including the dividend. That's better than the annualised return of 29% over half a decade, implying that the company is doing better recently. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for BHP Group you should be aware of, and 1 of them is a bit unpleasant.

If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of companies that have proven they can grow earnings.

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

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

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

Vancouver, British Columbia–(Newsfile Corp. – July 16, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) ("Millennial" or the "Company") and Ganfeng Lithium Co., Ltd. (HK: 1772 ) (OTCQX: GNENF) ("Ganfeng") are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement"), dated July 16, 2021 pursuant to which Ganfeng, through a British Columbia subsidiary, will acquire all of the outstanding common shares of Millennial (each, a "Common Share") by way of a plan of arrangement (the "Arrangement"), for CAD $3.60 per Common Share (the "Purchase Price") in cash representing total cash consideration of approximately C$353 million.

Farhad Abasov, President and Chief Executive Officer of Millennial, commented:

"Millennial is pleased to receive this offer from Ganfeng, one of the largest lithium producers. Millennial's board and management believe that the Arrangement provides a very attractive opportunity for Millennial's shareholders to realize full liquidity at a substantial premium to the current share price. The Arrangement firmly validates the efforts of the Millennial team in the past four years: advancing the Pastos Grandes Project through exploration to resource estimate, PEA, DFS and ultimately a highly successful pilot pond and plant operations where we have (as described in our news release of April 21, 2021) achieved 99.96% purity battery grade lithium carbonate production. Ganfeng would bring significant technical lithium expertise to Pastos Grandes gained through their partnership with Lithium Americas Corp. at Cauchari and other projects worldwide. The premium to the current share price offered by Ganfeng brings a significant value to the Millennial shareholders. We thank all our shareholders for their support all these years. I would also like to thank our board and its Chair, Graham Harris, who is also the founder of Millennial, for their solid support."

Li Liang Bin, Chairman and President of Ganfeng, commented:

"Millennial's 100%-owned Pastos Grandes Project is an attractive, advanced stage lithium project and is in our view highly complementary to our existing footprint in Argentina. We commend Millennial on their achievements to date and we look forward to working closely with stakeholders and local communities in Argentina to deliver a lithium operation that will benefit the regional economy."

Benefits to Millennial Shareholders

• Significant premium of approximately 21% over the twenty (20) day average closing price of $2.98 for the Common Shares on the TSX Venture Exchange.

• All-cash offer that is not subject to a financing condition.

• Voting support with voting support agreements entered into with directors and senior officers of Millennial and with Millennial's largest shareholder representing an aggregate of approximately 17% of outstanding common shares.

• Removes future dilution risk associated with funding development of next phase of Pastos Grandes Project.

Millennial Board of Directors' Recommendation

After consultation with its financial and legal advisors, and on the unanimous recommendation of a special committee of directors of Millennial (the "Special Committee"), the Arrangement Agreement has been approved unanimously by the board of directors of Millennial (the "Board") and the Board recommends that Millennial shareholders ("Shareholders") vote in favour of the Arrangement. The Special Committee has received a fairness opinion from Sprott Capital Partners LP ("Sprott"), which states that the consideration to be received by Shareholders pursuant to the Arrangement is fair, from a financial point of view, to Shareholders (other than Ganfeng).

Transaction Conditions and Timing

The Arrangement will be effected by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act and will be subject to the approval of: (i) 66²/₃% of votes cast by Shareholders; (ii) 66²/₃% of votes cast by Shareholders and holders ("Warrantholders" and together with Shareholders, "Voting Securityholders") of Common Share purchase warrants ("Warrants"), voting together as a group; and (iii) a simple majority of the votes cast by Shareholders excluding for this purpose the votes held by any person required under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, at a special meeting of Voting Securityholders expected to be held in September 2021 (the "Meeting"). In addition to Voting Securityholder approval, the Arrangement is also subject to the receipt of certain regulatory and court approvals, including approval by relevant authorities in the People's Republic of China and Investment Canada Act approval, and other closing conditions customary in transactions of this nature.

The Arrangement provides for, among other things, customary Board support and non-solicitation covenants, with a "fiduciary out" that would allow Millennial to accept a superior proposal, subject to a "right to match" period in favour of Ganfeng. The Arrangement Agreement also provides for (i) a termination fee of US $10 million, payable by Millennial to Ganfeng in certain specified circumstances, (ii) the reimbursement of Ganfeng's expenses up to US $500,000 if the Arrangement Agreement is terminated in certain other specified circumstances, and (iii) a reverse termination fee of US $16 million, held in escrow and payable by Ganfeng to Millennial in certain other specified circumstances.

Directors and officers of Millennial, as well as Millennial's largest shareholder, have entered into support and voting agreements pursuant to which they have agreed to vote their Common Shares in favour of the Arrangement.

As part of the Arrangement, outstanding Company convertible securities, including the Warrants, stock options ("Options"), restricted share units ("RSUs") and performance share units ("PSUs") will be acquired by the Company and cancelled. The holders of Warrants will receive cash consideration of $0.30 per whole Warrant, and the holders of Options will receive cash consideration equal to the Purchase Price less the exercise price of such Option. Holders of RSUs and PSUs will receive cash consideration equal to the Purchase Price.

Subject to certain conditions, including the parties obtaining the requisite regulatory approvals, the Arrangement is expected to close in the fourth quarter of 2021.

Upon closing of the Arrangement, the securities of Millennial are expected to be concurrently delisted from the TSX Venture Exchange.

Full details of the Arrangement will be included in a management information circular of Millennial that is expected to be mailed to Voting Securityholders by the end of August 2021 and made available on SEDAR under the issuer profile of Millennial at www.sedar.com.

Advisors and Counsel

Gowling WLG (Canada) LLP is acting as Ganfeng's legal advisor.

Credit Suisse Securities (Canada) Inc. is acting as financial advisor to Millennial, and Dentons Canada LLP is acting as Millennial's legal advisor. Sprott is acting as financial advisor to the Special Committee.

About Millennial

To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

MILLENNIAL LITHIUM CORP.

About Ganfeng

Ganfeng is one of the largest producers of lithium. Ganfeng's operations are vertically integrated, encompassing all critical stages of the value chain, including upstream lithium extraction, midstream lithium compounds and metals processing as well as downstream lithium battery production and recycling. Ganfeng has one of the most comprehensive product offerings split into five major categories of more than 40 lithium compounds and metals products.

"Farhad Abasov"

President CEO and Director

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

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the Arrangement, including statements with respect to the benefits of the Arrangement to the Shareholders, the anticipated Meeting date and mailing of the information circular in respect of the Meeting, timing for completion of the Arrangement and receiving the required regulatory and court approvals, Ganfeng's expectations in respect of the Pastos Grandes Project, the accuracy of mineral resource and mineral reserve estimates at the Pastos Grandes Project and future plans and objectives of Ganfeng. The Company's current plans, expectations and intentions with respect to development of its business and of the Pastos Grandes Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Pastos Grandes Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90447

Grocery distribution to Fred Meyer stores in the Pacific Northwest and Alaska could be disrupted starting Sunday if unionized warehouse workers vote to strike after talks on a new contract broke down.

Meanwhile, spokespersons said representatives for the Teamsters union reached a tentative agreement with Safeway on a new labor deal for truck drivers and warehouse workers shortly after midnight Friday, likely ensuring that about 200 stores in the region will continue to receive deliveries without interruption.

Contracts with both groups of workers are set to expire this weekend.

More than 1,000 workers are demanding increases in compensation and better safety protections after working on the front lines of the COVID pandemic for 16 months to maintain supplies of food and other household goods under difficult circumstances.

Local 117 spokesperson Paul Zilly said a vote to ratify the Safeway deal recommended by leadership will take place on Sunday. Results of the vote will be known at 6:30 p.m. Pacific Standard Time. Local 117 represents about 500 warehouse workers at the Fred Meyer distribution center in Puyallup, Washington, and about 460 employees at Safeway's warehouse in Auburn. Both locations are near Tacoma.

Workers will vote on a work stoppage at Fred Meyer, part of the Kroger (NYSE: KR) empire, on Saturday. Zilly said he expected a near-unanimous vote to walk off the job. A shutdown would impact about 180 Fred Meyer outlets in Washington, Oregon, Alaska and Idaho, as well as delivery of some nutrition products to California.

The Safeway DC services about 187 Safeway stores and 15 Haggen natural outlets in Washington and Alaska.

Local 174, the bargaining unit for about 175 big rig drivers who transport groceries from the Auburn facility to stores throughout the state, will vote Saturday to ratify the contract with Safeway, spokesperson Jamie Fleming said.

Drivers are compensated by a complicated activity-based formula that essentially pays them by the task.

Union officials provided few specifics about the issues being negotiated, but said their members wanted to be shown respect after putting themselves at risk to keep the food distribution system going when COVID restricted people from shopping or working in close proximity.

"Our members in the grocery warehouse industry have worked tirelessly throughout the pandemic to make sure grocery shelves in communities across the Pacific Northwest are stocked with food and supplies," said John Scearcy, secretary-treasurer of Teamsters Local 117, in a statement Thursday before reaching the agreement with Safeway. "They've put themselves and their families' safety at risk to feed Washington families despite major COVID-19 outbreaks in the workplace. It's inexcusable that both Safeway and Fred Meyer, companies that have seen soaring profits over the last year, are unwilling to recognize the indispensable contributions these essential workers have made for all of us."

On Friday, Searcy said, "We are happy to see that Safeway put forth a fair contract proposal that our members will be voting on this weekend. Unfortunately, Fred Meyer has yet to demonstrate the same recognition of the indispensable contributions these essential workers have made for all of us."

Safeway owner Albertsons (NYSE: ACI) achieved record results for the fiscal year ended Feb. 27, with net sales up 11.6% to $69.7 billion year-over-year and gross profit rising 16% to $20.4 billion. Kroger has raised its guidance for earnings to be about 10% higher than in 2019 for the full year.

"As with all our collectively bargained agreements, we are committed to reaching a fair agreement that properly rewards our outstanding employees," Albertsons spokesperson Kirby Nardo said in an email. Kroger did not respond to inquiries about the contract.

Safety issues were a big priority for the workers, especially for Fred Meyer because it suspended regular safety meetings at the start of the pandemic, Zilly said.

The union proposal to both companies would allow members, if they deem something as unreasonably safe, to refuse a work assignment without the risk of discipline until the matter has been evaluated by management, he said. Safety concerns could apply to work procedures, equipment, COVID protocols or even to whether truck trailers are properly loaded, which could affect public safety.

Click here to read more FreightWaves/American Shipper stories by Eric Kulisch.

Image by jaymethunt from Pixabay

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Symbol: AZM.TSX Venture

LONGUEUIL, QC, July 16, 2021 /CNW Telbec/ – Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to announce that it has closed its previously announced bought deal private placement financing (the "Offering") for total gross proceeds of approximately $28.75 million, consisting of 3,463,900 common shares of the Company that qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)) (the "FT Shares") at a price of $3.32 per FT Share and 9,078,472 common shares of the Company on a non-flow-through basis (the "Shares" and, together with the FT Shares, the "Offered Shares") at a price of $1.90 per Share, which includes the exercise of the underwriters' option to purchase 1,973,172 additional Shares.

Paradigm Capital Inc. acted as lead underwriter (the "Lead Underwriter") in connection with the Offering with a syndicate including Laurentian Bank Securities Inc. and Sprott Capital Partners LP (together with the Lead Underwriter, the "Underwriters"). As consideration for the services provided by the Underwriters in connection with the Offering, the Underwriters received: (a) a cash commission representing 6.0% of the aggregate gross proceeds from sales of the Offered Shares under the Offering (reduced to 3% for certain subscribers on the president's list of the Company); and (b) non-transferable compensation options, representing 4% of the total number of Offered Shares sold under the Offering, each exercisable for one common share of the Company at a price of $1.90 per share until January 16, 2023.

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada) and the Taxation Act (Québec), to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") on or before December 31, 2022, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2021. In addition, with respect to Québec resident subscribers of the FT Shares who are eligible individuals under the Taxation Act (Québec), the Canadian exploration expenses will also qualify for inclusion in the "exploration base relating to certain Québec exploration expenses" within the meaning of section 726.4.10 of the Taxation Act (Québec) and for inclusion in the "exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses" within the meaning of section 726.4.17.2 of the Taxation Act (Québec). The net proceeds from the sale of the Shares will be used for exploration and for general corporate purposes.

The strategic investor, who participated in the February 2020 private placement, also participated in the Offering and following the Offering will have pro-forma ownership of approximately 9.79%.

All securities issued in connection with the Offering are subject to a statutory hold period in Canada expiring on November 17, 2021. The Offering remains subject to final acceptance of the TSX Venture Exchange.

The securities have not been, and will not be, registered under the Unites States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in the Unites States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the Unites States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Azimut

Azimut is a mineral exploration company whose core business centres on target generation and partnership development. The Company is actively advancing the Patwon gold discovery on its 100%-owned flagship Elmer Property in the James Bay region.

The Company uses a pioneering approach to big data analytics (the proprietary AZtechMine^TM expert system), enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 81.7 million shares outstanding. Azimut's competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects.

Cautionary Statement

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

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, use of proceeds of the Offering, renunciation and tax treatment of the FT Shares and receipt of final acceptance of the TSX Venture Exchange for the Offering. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in equity markets, changes in exchange rates, fluctuations in commodity prices, capital, operating and reclamation 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.

SOURCE Azimut Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/July2021/16/c9228.html

Every investor in Hallador Energy Company (NASDAQ:HNRG) should be aware of the most powerful shareholder groups. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.

Hallador Energy is not a large company by global standards. It has a market capitalization of US$101m, which means it wouldn't have the attention of many institutional investors. Taking a look at our data on the ownership groups (below), it seems that institutions are noticeable on the share registry. We can zoom in on the different ownership groups, to learn more about Hallador Energy.

View our latest analysis for Hallador Energy

What Does The Institutional Ownership Tell Us About Hallador Energy?

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

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

Hallador Energy is not owned by hedge funds. Our data shows that Lubar & Co., Inc. is the largest shareholder with 9.1% of shares outstanding. For context, the second largest shareholder holds about 5.5% of the shares outstanding, followed by an ownership of 5.2% by the third-largest shareholder. Steven Hardie, who is the third-largest shareholder, also happens to hold the title of Member of the Board of Directors. In addition, we found that Brent Bilsland, the CEO has 4.2% of the shares allocated to their name.

On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There is some analyst coverage of the stock, but it could still become more well known, with time.

Insider Ownership Of Hallador Energy

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

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

Our most recent data indicates that insiders own a reasonable proportion of Hallador Energy Company. It has a market capitalization of just US$101m, and insiders have US$13m worth of shares in their own names. It is great to see insiders so invested in the business. It might be worth checking if those insiders have been buying recently.

General Public Ownership

The general public — including retail investors — own 52% of Hallador Energy. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.

Private Equity Ownership

Private equity firms hold a 9.1% stake in Hallador Energy. This suggests they can be influential in key policy decisions. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand Hallador Energy better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Hallador Energy (at least 1 which is significant) , and understanding them should be part of your investment process.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

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

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

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

It is hard to get excited after looking at Hochschild Mining's (LON:HOC) recent performance, when its stock has declined 23% over the past three months. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to Hochschild Mining's ROE today.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

View our latest analysis for Hochschild Mining

How Is ROE Calculated?

The formula for ROE is:

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

So, based on the above formula, the ROE for Hochschild Mining is:

2.5% = US$20m ÷ US$806m (Based on the trailing twelve months to December 2020).

The 'return' is the profit over the last twelve months. That means that for every £1 worth of shareholders' equity, the company generated £0.03 in profit.

What Is The Relationship Between ROE And Earnings Growth?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

Hochschild Mining's Earnings Growth And 2.5% ROE

It is hard to argue that Hochschild Mining's ROE is much good in and of itself. Even when compared to the industry average of 16%, the ROE figure is pretty disappointing. In spite of this, Hochschild Mining was able to grow its net income considerably, at a rate of 58% in the last five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. Such as – high earnings retention or an efficient management in place.

We then compared Hochschild Mining's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 26% in the same period.

Earnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is Hochschild Mining fairly valued compared to other companies? These 3 valuation measures might help you decide.

Is Hochschild Mining Efficiently Re-investing Its Profits?

Hochschild Mining has a significant three-year median payout ratio of 89%, meaning the company only retains 11% of its income. This implies that the company has been able to achieve high earnings growth despite returning most of its profits to shareholders.

Besides, Hochschild Mining has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 23% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 13%, over the same period.

Conclusion

On the whole, we do feel that Hochschild Mining has some positive attributes. While no doubt its earnings growth is pretty substantial, we do feel that the reinvestment rate is pretty low, meaning, the earnings growth number could have been significantly higher had the company been retaining more of its profits. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

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

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

TORONTO, July 16, 2021 /CNW/ – Today Rio Tinto released its operations review for the second quarter ending June 30, 2021, which included Iron Ore Company of Canada (IOC) production and sales information. Specifically, Rio Tinto announced that in the second quarter of 2021, IOC had total saleable iron ore production of 4.63 million tonnes, comprised of 2.67 million tonnes of pellets and 1.97 million tonnes of concentrate for sale (CFS). Rio Tinto also announced that IOC had total iron ore sales in the second quarter of 2021 of 4.01 million tonnes, comprised of 2.22 million tonnes of pellets and 1.79 million tonnes of CFS. Comparisons to prior quarters and Rio Tinto's commentary on the changes can be found in Rio Tinto's quarterly operational report which is posted on their website. Please note that the IOC sales tonnages are calculated slightly differently for the LIORC Royalty.

LIORC will be releasing its full second quarter report after the market close on August 5, 2021.

About Labrador Iron Ore Royalty Corporation

The Corporation holds a 15.10% equity interest in IOC directly and through its wholly-owned subsidiary, Hollinger-Hanna Limited, and receives a 7% gross overriding royalty and a 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC.

Forward-Looking Statements
This press release may contain "forward-looking" statements that involve risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Words such as "may", "will", "expect", "believe", "plan", "intend", "should", "would", "anticipate" and other similar terminology are intended to identify forward-looking statements. These statements reflect current assumptions and expectations regarding future events and operating performance as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly, including iron ore price and volume volatility, exchange rates, the performance of IOC, market conditions in the steel industry, mining risks and insurance, relationships with indigenous groups, natural disasters, severe weather conditions and public health crises, changes affecting IOC's customers, competition from other iron ore producers, estimates of reserves and resources, government regulation and taxation and cybersecurity. A discussion of these factors is contained in LIORC's annual information form dated March 4, 2021 under the heading, "Risk Factors". Although the forward-looking statements contained in this press release are based upon what management of LIORC believes are reasonable assumptions, LIORC cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and LIORC assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances. This press release should be viewed in conjunction with LIORC's other publicly available filings, copies of which can be obtained electronically on SEDAR at www.sedar.com.

SOURCE Labrador Iron Ore Royalty Corporation

View original content: http://www.newswire.ca/en/releases/archive/July2021/16/c6030.html

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

VANCOUVER, BC, July 15, 2021 /CNW/ – (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce that it has closed its previously announced bought deal financing (the "Offering") as well as the previously announced concurrent private placement (the "Concurrent Private Placement" and together with the Offering, the "Financing") for aggregate gross proceeds of approximately C$41.4 million. Please view PDF version.

Pursuant to the Offering, a total of 33,810,000 common shares of the Company ("Common Shares"), including 4,410,000 Common Shares issued pursuant to the over-allotment option, which was exercised in full, were sold at a price of C$0.75 per Common Share, for aggregate gross proceeds of approximately C$25.4 million. The Common Shares issued pursuant to the Offering were offered by way of a short form prospectus (the "Prospectus") filed in British Columbia, Alberta, Manitoba, Ontario and Quebec. The Offering was conducted through a syndicate of underwriters comprised of BMO Capital Markets and Scotia Capital Inc.

Pursuant to the Concurrent Private Placement, a total of 21,347,733 Common Shares were sold at a price of C$0.75 per share for additional aggregate gross proceeds of approximately C$16 million, which included an investment by Nemesia S.à.r.l. No commission or other fee was paid to the underwriters in connection with the sale of Common Shares pursuant to the Concurrent Private Placement. The Common Shares issued pursuant to the Concurrent Private Placement are subject to a statutory hold period in Canada expiring on November 16, 2021. The Financing is subject to final approval by the Toronto Stock Exchange (the "TSX").

The net proceeds of the Financing will be used for working capital to support the development and ongoing operation of the Karowe diamond mine, including the Karowe Underground Expansion Project as described in the Company's press release of July 12, 2021.

This news release is not an offer to the public to subscribe for Common Shares or otherwise acquire Common Shares or other financial instruments in the Company, whether in Sweden or in any other EEA Member State and does not constitute a prospectus in accordance within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017. No such prospectus has been or will be prepared in connection with the Offering or the Private Placement.

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

Eira Thomas
President and Chief Executive Officer

Follow Lucara Diamond on Facebook, Twitter, Instagram, and LinkedIn

ABOUT LUCARA

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

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

This information is information that the Company is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 9:00 a.m. Eastern Time on July 15, 2021.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

Certain of the statements made and contained herein and elsewhere constitute forward-looking statements as defined in applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved and include, without limitation, the proposed use of the net proceeds of the Financing and the ability of the Company to obtain final approval from the TSX.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, including in respect to the intended use of proceeds and Lucara's ability to obtain the final TSX approval for the Financing. These assumptions, opinions and estimates are subject to a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The Company believes that expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be accurate and such forward-looking information included herein should not be unduly relied upon.

There can be no assurance that such forward looking statements will prove to be accurate, as the Company's results and future events could differ materially from those anticipated in this forward-looking information as a result of those factors discussed in or referred to under the heading "Risks and Uncertainties" in the Company's most recent Annual Information Form and under the heading "Risk Factors" in the Prospectus, which is available at http://www.sedar.com, as well as changes in general business and economic conditions, changes in interest and foreign currency rates, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, costs of power and diesel, acts of foreign governments and the outcome of legal proceedings, inaccurate geological and recoverability assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), and unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job actions, adverse weather conditions, and unanticipated events relating to health safety and environmental matters).

Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements which 3 speak only as of the date the statements were made, and the Company does not assume any obligations to update or revise them to reflect new events or circumstances, except as required by law.

SOURCE Lucara Diamond Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/15/c2127.html

CRANBROOK, BC / ACCESSWIRE / July 15, 2021 / Eagle Plains Resources (TSXV:EPL), ("EPL") has been notified by partner Rex Resources Corp. (OWN) that diamond drilling activities have commenced on EPL's 100% owned Kalum Property located approximately 35 km northwest of Terrace, British Columbia. A 300m, single hole program is planned for the Martin Zone. Rex has the exclusive right to earn a 60% interest in the property by completing exploration expenditures of $3,000,000, making cash payments of $500,000 and issuing 1,000,000 common shares to EPL over a four-year period.

Property Geology

The 1,600ha property is flanked by a large intrusive stock that has intruded sedimentary rocks of the Bowser Lake Group. A number of high-grade, vein-type gold and silver occurrences are associated with the contact zone and magnetic signature of the intrusive stock.

Property History

Eagle Plains acquired the property in 2003 and completed significant exploration work in 2003 and 2004. The programs included a VTEM airborne survey, extensive geochemical programs, geologic mapping, and a 19-hole diamond drill program. The best drill results from this work included drill-hole KRC04001, drilled at the Rico showing (discovered by Eagle Plains), which returned 35g/t Au over 2.5m from 101.8m to 104.3m; including a 0.5m interval that assayed 107g/t Au. Historical sampling at the Chris occurrence reported a grab sample of 158 g/t Au and 5,536 g/t Ag. Sampling at the Martin Zone returned samples ranging from trace values to a high of 8.2 g/t Au. The latest systematic work on the property was carried out in 2012 by Clemson Resources, who drilled a single hole to test for high-grade mineralization in an area outside of present claim boundaries. Management cautions that rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

All work to date continues to support the interpreted potential for the Kalum Property to host both high-grade gold-silver deposits and lower-grade bulk-tonnage type gold mineralization.

2021 exploration work will be undertaken by TerraLogic Exploration Services of Cranbrook BC under the supervision of Kerry Bates, P.Geo. Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has prepared, reviewed, and approved the scientific and technical disclosure in the news release.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

Cautionary Note Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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.

SOURCE: Eagle Plains Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/655582/Rex-Resources-Commences-Drilling-on-Eagle-Plains-Kalum-Gold-Property-Golden-Triangle-Region-British-Columbia

TORONTO, July 15, 2021 (GLOBE NEWSWIRE) — Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) senior management will host a conference call on Tuesday, August 10, 2021 at 8:30 a.m. ET to discuss the company’s second quarter 2021 results.

Hudbay plans to issue a news release containing the second quarter 2021 results on Monday, August 9, 2021 and post it on the company’s website. An archived audio webcast of the call also will be available on Hudbay’s website.

About Hudbay

Hudbay (TSX, NYSE: HBM) is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. Directly and through its subsidiaries, Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and copper projects in Arizona and Nevada (United States). The company’s growth strategy is focused on the exploration, development, operation and optimization of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay’s vision is to be a responsible, top-tier operator of long-life, low-cost mines in the Americas. Hudbay’s mission is to create sustainable value through the acquisition, development and operation of high-quality, long-life deposits with exploration potential in jurisdictions that support responsible mining, and to see the regions and communities in which the company operates benefit from its presence. The company is governed by the Canada Business Corporations Act and its shares are listed under the symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima. Further information about Hudbay can be found on www.hudbay.com.

For further information, please contact:

Candace Brûlé
Director, Investor Relations
(416) 814-4387
candace.brule@hudbay.com

Val-d'Or, Québec–(Newsfile Corp. – July 15, 2021) – Golden Valley Mines Ltd. (TSXV: GZZ) ("Golden Valley" or the "Corporation") is pleased to announce that it has, effective today, filed Articles of Amendment to change its name to Golden Valley Mines and Royalties Ltd. Shareholders passed a special resolution to change the name at the Corporation's Annual General and Special Meeting of Shareholders held on June 25, 2021. The Corporation will commence trading under the new name on the TSXV under its current trading symbol, "GZZ," at the opening of trading on Friday, July 16, 2021.

New Website

As part of the name change initiative, the new corporate website will launch on July 16, 2021, to coincide with the commencement of the Corporation's shares trading under the new name on the TSXV. The new domain name will be: www.gvmroyalties.com. Visitors to the current website and emails to existing Corporation addresses will be redirected.

The new name, Golden Valley Mines and Royalties Ltd., better reflects the Corporation's focus on acquiring royalties and free carried interests pursuant to strategic partnerships and joint ventures on its previously wholly-owned properties.

About Golden Valley Mines and Royalties Ltd.: Golden Valley Mines and Royalties Ltd. is focused on project generation and continues to evaluate opportunities to enhance its mining exploration property portfolio. The Corporation is able to grow its current assets by way of partner-funded option/joint ventures and through its shareholdings in related entities.

For additional information please contact:

Glenn J. Mullan
Chairman, President, and CEO
Golden Valley Mines Ltd.
2864, chemin Sullivan
Val-d'Or, Québec J9P 0B9
Telephone: 819.824.2808 ext. 204
Email: glenn.mullan@goldenvalleymines.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90406

Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – July 15, 2021) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" "PTM" or the "Company") reports the Company's financial results for the nine months ended May 31, 2021 and provides a summary of recent events and outlook. The Company is focused on advancing the Waterberg Project located on the Northern Limb of the Bushveld Complex in South Africa (the "Waterberg Project"). The Waterberg Project is planned as a fully mechanised, shallow, decline access palladium, platinum, gold and rhodium ("4E") mine and is projected to be one of the largest and lowest cost underground platinum group metals ("PGM" or "PGMs") mines globally.

A mining right for the Waterberg Project was granted by the South African Department of Mineral Resources and Energy ("DMRE") on January 28, 2021 and was notarially executed on April 13, 2021 (the "Waterberg Mining Right"). The Company's near-term objectives are to continue working closely with established local community leadership to maximize the value of the Waterberg Project for all stakeholders and to complete construction funding and concentrate offtake arrangements for the Waterberg Project.

The Company is also advancing an initiative through Lion Battery Technologies Inc. ("Lion") in collaboration with Anglo American Platinum Limited ("Anglo") and Florida International University ("FIU"). Lion was jointly formed in 2019 by Platinum Group and Anglo to accelerate the development of next-generation lithium battery technology using platinum and palladium. Work at Lion has focused on next generation lithium Sulphur and lithium air battery chemistry. Recent results have been encouraging, including potential innovations that may apply broadly to current lithium-ion battery chemistries. Lion has now been granted three United States patents and continues research work and filing new patents to protect its discoveries and innovations.

For details of the condensed consolidated interim financial statements (the "Financial Statements") and Management's Discussion and Analysis for the nine months ended May 31, 2021 please see the Company's filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). Shareholders are encouraged to visit the Company's website at www.platinumgroupmetals.net. Shareholders may receive a hard copy of the complete Financial Statements from the Company free of charge upon request.

All amounts herein are reported in United States dollars unless otherwise specified. The Company holds cash in Canadian dollars, United States dollars and South African Rand. Changes in exchange rates may create variances in the cash holdings or results reported.

Recent Events

On April 13, 2021, representatives of the DMRE and Waterberg JV Co. completed a notarial execution of the Waterberg Mining Right. The Waterberg Mining Right has now been filed for title registration.

On March 5, 2021, the Company received notice of an appeal to the decision by the DMRE granting the Waterberg Mining Right. The notice was filed by a small group of four individual appellants from a local community. Later in April the Company received notice of two similar appeals and in May received notice of an application for an order in the High Court of South Africa to review and set aside the decision by the Minister of Environment, Forestry and Fisheries to dismiss an application for condonation for the late filing of an appeal against the Environmental Authorization granted for the Waterberg Mine on November 10, 2020. The Company believes that all requirements specified under the MPRDA have been complied with and that the DMRE correctly granted the mining right. Counsel acting for Waterberg JV Co. has filed formal rebuttals to each action. The Company continues to work in a climate of mutual respect with recognized municipal and local community leadership.

On February 5, 2021, the Company entered into an Equity Distribution Agreement with BMO Capital Markets Corp. ("BMO") to sell its common shares from time to time for up to $50.0 million in aggregate sales proceeds in "at-the-market" transactions. At February 28, 2021, the Company had sold 1,631,224 common shares at an average price of $5.10 for gross proceeds of $8.33 million. No offers or sales of common shares were made in Canada, to anyone known to be a resident of Canada or on or through the facilities of the Toronto Stock Exchange or other trading markets in Canada.

On January 28, 2021, the DMRE granted Waterberg JV Co. the Waterberg Mining Right.

On December 8, 2020, the Company closed a non-brokered private placement of 1,121,076 common shares at a price of $2.23 per share to existing major beneficial shareholder, Hosken Consolidated Investments Limited ("HCI") through its subsidiary Deepkloof Limited ("Deepkloof"), resulting in gross proceeds to the Company of $2.5 million and allowing HCI to maintain approximately a 31% interest in the Company as they held prior to the at-the-market offering completed by the Company on November 30, 2020, as described below.

On November 30, 2020, the Company completed sales of an "at-the-market" offering of common shares first announced on September 4, 2020. The offering was completed pursuant to an Equity Distribution Agreement with BMO whereby Platinum Group sold 5,440,186 common shares in the capital of the Company at an average price of $2.21 for gross proceeds of US $12.0 million. No offers or sales of common shares were made in Canada, to anyone known to be a resident of Canada or on or through the facilities of the Toronto Stock Exchange or other trading markets in Canada.

Results For The Nine Months Ended May 31, 2021

During the nine months ended May 31, 2021, the Company incurred a net loss of $8.84 million (May 31, 2020 – net loss of $5.90 million). General and administrative expenses during the period were $2.91 million (May 31, 2020 – $2.71 million). Interest expense of $3.63 million was lower in the current period (May 31, 2020 – $4.01 million) due to reduced debt levels. Gains on foreign exchange were $1.65 million (May 31, 2020 – $1.20 million loss) due to the US Dollar decreasing in value relative to the Canadian Dollar, which is the Company's functional currency. Stock based compensation expense, a non-cash item, totalled $2.77 million (May 31, 2020 – $1.14 million), which rose due to an increase in the value of the Company's shares during the period. Loss on fair value derivatives and other instruments, also a non-cash expense, was $0.61 million at May 31, 2021, versus a gain of $3.11 million in the nine months ended May 31, 2020, representing the largest period to period variance in the Company's third quarter results. At May 31, 2021, finance income consisting of interest earned and property rental fees in the period amounted to $0.07 million (May 31, 2020 – $0.13 million). Loss per share for the period amounted to $0.12 as compared to a loss of $0.10 per share for the nine months ended May 31, 2020.

Accounts receivable at May 31, 2021, totalled $0.25 million (August 31, 2020 – $0.22 million) while accounts payable and accrued liabilities amounted to $1.45 million (August 31, 2020 – $1.41 million). Accounts receivable were comprised of mainly of amounts receivable for value added taxes repayable to the Company in South Africa. Accounts payable consisted primarily of Waterberg engineering fees, accrued professional fees and regular trade payables.

Total expenditures on the Waterberg Project, before partner reimbursements, for the nine-month period were approximately $1.95 million (May 31, 2020 – $2.12 million). At May 31, 2021, $44.4 million in accumulated net costs had been capitalized to the Waterberg Project (May 31, 2020 – $34.0 million). Total expenditures on the property since inception to May 31, 2021, are approximately $78.1 million.

For more information on mineral properties, see Note 3 of the Financial Statements.

Outlook

The Company's primary business objective is to advance the Waterberg Project to development and construction. The Company continues to work closely with the DMRE, regional and local communities and their leadership on how the mine can be developed to provide optimal outcomes and best value to all stakeholders.

Detailed engineering for infrastructure and pre-construction readiness continues funded by Waterberg JV Resources Pty Ltd. The Waterberg Project engineering team is converting details from a definitive feasibility study published in September 2019 ("Waterberg DFS") into a formal cost budget estimate, with a focus on critical path elements and the first two years of construction. Roads, construction camp, power, water and project commencement are all being detailed and optimized.

The next major milestones for the Company and the Waterberg Project include further detailed work with the host communities in the area of the mine, offtake arrangements and construction financing. The Company is in discussions with several parties regarding the offtake of concentrate and detailed due diligence is underway with multiple parties for construction financing. Technical reviews are well advanced and, in some cases, complete.

The markets for platinum and palladium continue to be strong and prices are well over the Waterberg DFS sensitivity analysis upside case.

The Company's battery technology initiative through Lion with Anglo represents a new opportunity in the high-profile lithium battery research and innovation field. The investment in Lion creates a potential vertical integration with a broader industrial market development strategy to bring new technologies to market utilizing palladium and platinum. Research and development efforts by FIU on behalf of Lion continue and initial technical milestones have been achieved. Technical results from Lion's research may have application to a majority of lithium ion battery chemistries and the scope of Lion's research work is being expanded.

The Company will continue to follow government health directives in the months ahead and will make the health and safety of employees a priority. The Company plans to drive ahead with its core business objectives while carefully managing costs where possible. The health and safety of employees remains a priority.

As well as the discussions within this press release, the reader is encouraged to also see the Company's disclosure made under the heading "Risk Factors" in the Company's 2020 annual Form 20-F, which was also filed as the Company's Annual Information Form in Canada.

Qualified Person

R. Michael Jones, P.Eng., the Company's President, Chief Executive Officer and a shareholder of the Company, is a non-independent qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for preparing the scientific and technical information contained in this news release. He has verified the data by reviewing the detailed information of the geological and engineering staff and independent qualified person reports as well as visiting the Waterberg Project site regularly.

About Platinum Group Metals Ltd. and Waterberg Project

Platinum Group Metals Ltd. is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Impala Platinum Holdings Ltd., Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo"), Japan Oil, Gas and Metals National Corporation and Hanwa Co. Ltd.

On behalf of the Board of
Platinum Group Metals Ltd.

Frank R. Hallam
CFO, Corporate Secretary and Director

For further information contact:
R. Michael Jones, President
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net

Disclosure

The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

The recent COVID-19 pandemic and related measures taken by governments create uncertainty and may have had, and may continue to have, an adverse impact on many aspects of the Company's business, including employee health, workforce productivity and availability, travel restrictions, contractor availability, supply availability, the Company's ability to maintain its controls and procedures regarding financial and disclosure matters and the availability of capital and insurance and the costs thereof, some of which, individually or when aggregated with other impacts, may be material to the Company. On June 15, 2021, South Africa was moved to alert level 3 and later on June 28, 2021 to adjusted level 4, with the Delta variant fast becoming the dominant strain in the country. In response to uncertainty caused by the COVID-19 pandemic, the Company has implemented additional testing and monitoring protocols for its work at the Waterberg Project site and elsewhere in South Africa.

This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the application for an order of the High Court and appeal of the mining right, the applicable procedures, timeline and potential results thereof, the development of the Waterberg project and the potential benefits and results thereof, the market for PGMs, the results of the Waterberg DFS, financing and mine development of the Waterberg Project including potential commercial alternatives for mine development financing and concentrate offtake, the Waterberg Project becoming one of the largest and potentially lowest cash cost underground platinum group metals mines globally, financing and mine development of the Waterberg Project, the appeals of the Waterberg Mining Right, work with local communities, the availability of constructing financing on terms acceptable to the Company, the outcome of the due diligence review for construction financing, the development of lithium sulphur and lithium air batteries and the potential benefits of utilizing palladium and platinum therein, the commercialization of lithium sulphur batteries, the application for patent rights with respect to the use of platinum group metals in lithium batteries, the ability of the Company to continue to provide funding for Lion, the cost and potential of platinum group metals in batteries, and Lion's development of next generation battery technology, and the Company's other future plans and expectations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct.

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 possible adverse impacts due the global outbreak of COVID-19 (as described above), the Company's inability to generate sufficient cash flow or raise sufficient additional capital to make payment on its indebtedness, and to comply with the terms of such indebtedness; additional financing requirements; the senior secured facility with the Sprott Private Resource Lending II (Collector), LP ("Sprott") entered into August 21, 2019 (the "2019 Sprott Facility" of which $11.3 million in principal is outstanding at May 31, 2021) is, and any new indebtedness may be, secured and the Company has pledged its shares of PTM RSA, and PTM RSA has pledged its shares of Waterberg JV Co. to Sprott, under the 2019 Sprott Facility, which potentially could result in the loss of the Company's interest in PTM RSA and the Waterberg Project in the event of a default under the 2019 Sprott Facility or any new secured indebtedness; the Company's history of losses and negative cash flow; the Company's ability to continue as a going concern; the Company's properties may not be brought into a state of commercial production; uncertainty of estimated production, development plans and cost estimates for the Waterberg Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; fluctuations in the relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices; the uncertainty of alternative funding sources for Waterberg JV Co.; the Company may become subject to the U.S. Investment Company Act; the failure of the Company or the other shareholders to fund their pro rata share of funding obligations for the Waterberg Project; any disputes or disagreements with the other shareholders of Waterberg JV Co. or Mnombo; the ability of the Company to retain its key management employees and skilled and experienced personnel; conflicts of interest; litigation or other administrative proceedings brought against the Company; actual or alleged breaches of governance processes or instances of fraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada and South Africa; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in South Africa, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation; the Company's common shares may be delisted from the NYSE American or the Toronto Stock Exchange if it cannot maintain compliance with the applicable listing requirements; and other risk factors described in the Company's most recent Form 20-F annual report, annual information form and other filings with the U.S Securities and Exchange Commission ("SEC") and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively. Proposed changes in the mineral law in South Africa if implemented as proposed would have a material adverse effect on the Company's business and potential interest in projects. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

The technical and scientific information contained herein has been prepared in accordance with NI 43-101, which differs from the standards adopted by the SEC. Accordingly, the technical and scientific information contained herein, including any estimates of mineral reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC.

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MELBOURNE (Reuters) -Rio Tinto reported a 12% fall in quarterly iron ore shipments on Friday after storms affected its West Australian operations, but is expected to report bumper results this month on soaring prices for the steel raw material.

Rio said it now expects to ship near the lower end of its range of 325 million tonnes (mt) and 340 mt in calendar 2021, meaning it may hand back its crown as the world's biggest producer to Brazilian rival Vale S.A..

Vale, which reports output later this month, is on track to meet the upper end of its 2021 guidance of 315-335 mt, according to UBS.

Rio shipped 76.3 million tonnes (mt) of the steel-making commodity for the three months ended June 30, down from 86.7 mt a year ago, just ahead of a UBS estimate of 76 mt.

"We would have liked to have seen higher production to capitalise on these iron ore prices. Still, they are going to be swimming in cash at results time," said analyst David Lennox at Fat Prophets in Sydney.

"Hopefully we will get a good dividend and we are looking for a share buyback as well."

Iron ore prices surged to records above $230 a tonne in May thanks to a post-COVID infrastructure drive by China.

Rio is expected to post half-year underlying earnings of $10.9 billion on July 28 according to a Vuma consensus of 14 analysts, more than double the $4.75 billion it reported for the same period last year.

Rio on Friday also raised its full-year iron ore production cost guidance due to increased labour and input costs.

The miner expects unit costs of $18.00-$18.50 per tonne for the year, up from its previous estimate of $16.70-$17.70 per tonne, even as prices it received for iron ore doubled to $168.40 a dry metric tonne free on board for the first half.

Miners have been facing labour shortages as Australia has shut international borders and snap closed state borders.

Rio also said it delayed commissioning at its new Gudai-Darri iron ore hub to later this year and first production from its Winu copper find in Australia to 2025 from original estimates of 2023, partly due to COVID restrictions.

It lowered 2021 production by 2 Mt due to new strategies to protect Aboriginal areas of high cultural significance as it seeks to repair relations with Aboriginal groups following its destruction of rock shelters at Juukan Gorge last year.

(Reporting by Melanie Burton in Melbourne and Sameer Manekar and Anushka Trivedi in Bengaluru; Editing by Krishna Chandra Eluri and Richard Pullin)