Ferrexpo's (LON:FXPO) stock is up by a considerable 20% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. In this article, we decided to focus on Ferrexpo's ROE.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.

View our latest analysis for Ferrexpo

How Do You Calculate Return On Equity?

ROE can be calculated by using the formula:

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

So, based on the above formula, the ROE for Ferrexpo is:

43% = US$635m ÷ US$1.5b (Based on the trailing twelve months to December 2020).

The 'return' is the yearly profit. That means that for every £1 worth of shareholders' equity, the company generated £0.43 in profit.

Why Is ROE Important For Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 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.

Ferrexpo's Earnings Growth And 43% ROE

To begin with, Ferrexpo has a pretty high ROE which is interesting. Additionally, the company's ROE is higher compared to the industry average of 16% which is quite remarkable. So, the substantial 30% net income growth seen by Ferrexpo over the past five years isn't overly surprising.

Next, on comparing Ferrexpo's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 27% in the same period.

Earnings growth is an important metric to consider when valuing a stock. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Ferrexpo is trading on a high P/E or a low P/E, relative to its industry.

Is Ferrexpo Using Its Retained Earnings Effectively?

Ferrexpo's three-year median payout ratio to shareholders is 15%, which is quite low. This implies that the company is retaining 85% of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.

Moreover, Ferrexpo is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 51% over the next three years. Therefore, the expected rise in the payout ratio explains why the company's ROE is expected to decline to 15% over the same period.

Conclusion

Overall, we are quite pleased with Ferrexpo's performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. 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.

Every investor in Resolute Mining Limited (ASX:RSG) should be aware of the most powerful shareholder groups. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Companies that used to be publicly owned tend to have lower insider ownership.

Resolute Mining is a smaller company with a market capitalization of AU$569m, so it may still be flying under the radar 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 Resolute Mining.

Check out our latest analysis for Resolute Mining

What Does The Institutional Ownership Tell Us About Resolute Mining?

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.

Resolute Mining already has institutions on the share registry. Indeed, they own a respectable stake in the company. 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. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Resolute Mining's historic earnings and revenue below, but keep in mind there's always more to the story.

Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. We note that hedge funds don't have a meaningful investment in Resolute Mining. Looking at our data, we can see that the largest shareholder is ICM Limited with 10% of shares outstanding. Van Eck Associates Corporation is the second largest shareholder owning 9.7% of common stock, and L1 Capital Pty. Limited holds about 6.4% of the company stock.

We did some more digging and found that 9 of the top shareholders account for roughly 52% of the register, implying that along with larger shareholders, there are a few smaller shareholders, thereby balancing out each others interests somewhat.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.

Insider Ownership Of Resolute Mining

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

Our data suggests that insiders own under 1% of Resolute Mining Limited in their own names. But they may have an indirect interest through a corporate structure that we haven't picked up on. It has a market capitalization of just AU$569m, and the board has only AU$5.6m worth of shares in their own names. Many tend to prefer to see a board with bigger shareholdings. A good next step might be to take a look at this free summary of insider buying and selling.

General Public Ownership

With a 21% ownership, the general public have some degree of sway over Resolute Mining. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Take risks for example – Resolute Mining has 1 warning sign we think you should be aware of.

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

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.

Toronto, Ontario–(Newsfile Corp. – June 25, 2021) – Churchill Resources Inc. (TSXV: CRI) ("Churchill" or the "Company") is pleased to announce that it has entered into a binding letter of intent dated June 24, 2021 (the "LOI") with Altius Resources Inc. ("Altius") to acquire a 100% undivided interest in certain mining claims comprising the Florence Lake Ni-Cu-PGE property in central Labrador near the coastal community of Hopedale and 175 km south of the Voisey's Bay mine (the "Florence Lake Property"). The Florence Lake Property is host to several Raglan-type ultramafic volcanic-hosted massive and disseminated sulphide nickel showings, and was last explored by Falconbridge between 1990-1997 during which time approximately 6,250m of drilling in 45 shallow holes were conducted, with drill core present on the property for relogging and sampling.

Highlights of that work included drill testing of the high-grade Baikie Showing where shallow drilling (<-100m depths) returned:

DDH FLK-92-02: 2.19% Ni, 0.22% Cu, 0.16% Co over 11.32 metres from 44.7 to 56m
DDH FLK-92-12: 1.33% Ni, 0.05% Cu over 13.5 metres from 83.0 to 96.5m

The Baikie Showing has demonstrated mineralized continuity over 110m of strike length from twelve drillhole intercepts and mapping, and is interpreted as a near vertically plunging subzone of disseminated, semi-massive and massive sulphide mineralization, consistent with the Raglan or Kambalda style of nickel deposits. Other showings along strike have generated +1.0% nickel grab samples or short intersections and need modern exploration work along with Baikie.

The Florence Lake Property is in need of modern, helicopter-borne magnetic and time domain EM surveying and Churchill has engaged a leading contractor for this work in September, with compilations of all historical data already well along. Ground follow-up, prospecting and till sampling work will also be initiated this fall.

Paul Sobie, President and Chief Executive Officer of Churchill remarked, "We're really pleased to have entered into this second arrangement to potentially acquire a high-grade nickel sulphide project from Altius, and it's location 15km from tidewater in Newfoundland and Labrador really enhances its attractiveness. Altius is a great partner and we're excited to build on our relationship with the team there. We look forward to advancing both Taylor Brook and Florence Lake in the coming months."

LOI Terms

Under the terms of the LOI, the Company shall have the exclusive option for a period of 24 months to acquire an undivided 100% ownership interest in the Florence Lake Property by:

1. issuing such number common shares in the capital of the Company ("Common Shares") to Altius, or its nominee, upon the execution date of a definitive option agreement ("Option Agreement") which represents 9.9% of the pro forma basic number of Common Shares outstanding following the issuance of such Common Shares to Altius (which as at today's date would be 1,373,946 Common Shares);

1. incurring a minimum of $1,500,000 in exploration expenditures within 12 months following the execution date of the Option Agreement;

1. completing an equity financing on a private placement basis for aggregate gross proceeds of at least $4 million (the "Private Placement");

1. following the completion of the Private Placement, issuing to Altius 7,000,000 Common Shares or such lesser number of Common Shares such that after such issuance, Altius shall not own more than 19.9% of the Common Shares outstanding following the issuance of such Common Shares to Altius, on a partially diluted basis; and

1. providing Altius with a nomination right to elect one nominee to the board of directors of Churchill until such time that Altius beneficially owns less than 9.9% of the Common Shares; and

1. providing Altius with a pre-emptive right to participate in future equity financings of Churchill to maintain its share ownership percentage interest in Churchill to a maximum of 19.9% of the issued and outstanding Common Shares until such time that Altius beneficially owns less than 9.9% of the Common Shares.

Following the date that the option is deemed to have been exercised in accordance with its terms, Churchill will issue and grant to Altius a 1.6% gross sales royalty on any minerals produced from the claims comprising the Florence Lake Property.

The transaction, including the issuance of Common Shares to Altius, and execution of a definitive investors rights agreement, is subject to all the necessary approvals from the TSXV. Any securities issued in connection with the transaction will be subject to applicable statutory hold periods.

Florence Lake Property

The Florence Lake Project is comprised of three map-staked licenses in two blocks, with the northern Florence Lake Block comprising Licenses 027520M (50 claims) and 032167M (151 claims) totaling 5,025ha or 50.25km². The southern Seahorse Lake Block is comprised of license 032231M containing 172 claims which cover 4,300ha or 43km². These licenses require $78,139.00 in assessment work during the current year.

Unless otherwise indicated, the scientific and technical information contained in this news release has been reviewed and approved by Paul Sobie, P.Geo, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Churchill Resources

Churchill is managed by career mining industry professionals which currently holds three exploration projects, namely Taylor Brook in Newfoundland, Pelly Bay in Nunavut and White River in Ontario. All three projects are at the evaluation stage, with known mineralized Ni-Cu-Co showings at Taylor Brook and Pelly Bay, and diamondiferous kimberlitic intrusives at White River and Pelly Bay. The primary focus of Churchill is on the continued exploration and development of the Taylor Brook and Florence Lake Project.

Further Information

For further information regarding Churchill, please contact:

Churchill Resources Inc.
Paul Sobie, Chief Executive Officer
Tel. 416.365.0930 (o)
647.988.0930 (m)

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about Churchill's objectives, goals and exploration activities proposed to be conducted on its properties; future growth potential of Churchill, including whether any proposed exploration programs at any of its properties will be successful; exploration results; and future exploration plans and costs. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. In particular, this release contains forward-looking information relating to, among other things, the entering into of a definitive Option Agreement and other ancillary transaction documents with respect to the Florence Lake Property and the exercise of such option; the number of Common Shares that may be issued in connection with the transactions discussed herein, and the parties' ability to satisfy due diligence requirements, closing conditions and receive necessary regulatory approvals. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Such factors, among other things, include: exploration results on the Florence Lake Property; the expected benefits to Churchill relating to the exploration proposed to be conducted on its properties; receipt of all regulatory approvals in connection with the transaction contemplated herein; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Churchill's properties, if required; fluctuations in genera macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and ongoing uncertainties relating to the COVID-19 pandemic Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Churchill cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Churchill assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88648

Presentation Times and Weblinks Released for Approximately 70 Presenting Companies

Wednesday and Thursday, June 23-24, 2021

NEW YORK, NY / ACCESSWIRE / June 22, 2021 / Sidoti & Company, LLC has released the presentation schedule and weblinks for its two-day Summer Virtual Small-Cap Conference taking place Wednesday and Thursday, June 23 – 24, 2021. The links can also be found at www.sidoticonference.com/events.

About Sidoti

For over two decades, Sidoti has been a premier provider of independent securities research focused specifically on small- and micro-cap companies and the institutions that invest their securities, with most of our coverage in the $50 million – $4 billion market cap range. Our approach affords companies and institutional clients a combination of high-quality research, a small-and micro- cap focused nationwide sales effort, broad access to corporate management teams, and extensive trading support. We serve 500+ institutional clients in North America, including many leading managers of portfolios with $200 million to $2 billion of AUM. Sidoti promotes meaningful interaction between issuers and investors in the small- and micro-cap space through our conferences and the hundreds of non-deal roadshows we host each year.

Contact

Sidoti Events Team
212-453-7031
conference@sidoti.com

SOURCE: Sidoti & Company, LLC

View source version on accesswire.com:
https://www.accesswire.com/652715/Sidoti-Summer-Virtual-Small-Cap-Conference

Toronto, Ontario–(Newsfile Corp. – June 21, 2021) – June 21, 2021 – Churchill Resources Inc. (formerly 9 Capital Corp.) ("Churchill") is pleased to announce that its common shares will commence trading at market open today on the TSX Venture Exchange (the "TSXV") under the ticker symbol "CRI".

Paul Sobie, President and Chief Executive Officer of Churchill remarked, "We're very pleased for our shareholders and stakeholders to have Churchill now listed on the TSXV, and look forward to working with our partners, local communities and First Nations going forward. We will be active on our now expanded Taylor Brook Ni-Cu-Co Project this summer and fall and anticipate generating fresh results to augment the known shallow high-grade nickel sulphide mineralization laterally and to greater depths."

The listing of the common shares of Churchill follows the completion of its Qualifying Transaction, as such term is defined under the policies of the TSXV, on June 16, 2021.

About Churchill Resources

Churchill is managed by career mining industry professionals which currently holds three exploration projects, namely Taylor Brook in Newfoundland (the "Taylor Brook Project"), Pelly Bay in Nunavut and White River in Ontario. All three projects are at the evaluation stage, with known mineralized Ni-Cu-Co showings at Taylor Brook and Pelly Bay, and diamondiferous kimberlitic intrusives at White River and Pelly Bay. The primary focus of Churchill is on the continued exploration and development of the Taylor Brook Project.

Further Information

For further information regarding Churchill, please contact:

Churchill Resources Inc.
Paul Sobie, Chief Executive Officer
Tel. 416.365.0930 (o)
647.988.0930 (m)

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about Churchill's objectives, goals and exploration activities proposed to be conducted on its properties; future growth potential of Churchill, including whether any proposed exploration programs at any of its properties will be successful; exploration results; and future exploration plans and costs. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Such factors, among other things, include: the expected benefits to Churchill relating to the exploration proposed to be conducted on its properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Churchill's properties, if required; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and ongoing uncertainties relating to the COVID-19 pandemic Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Churchill cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Churchill assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88101

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So when we looked at the ROCE trend of Fortescue Metals Group (ASX:FMG) we really liked what we saw.

What is Return On Capital Employed (ROCE)?

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

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

0.44 = US$9.5b ÷ (US$24b – US$2.9b) (Based on the trailing twelve months to December 2020).

Therefore, Fortescue Metals Group has an ROCE of 44%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 8.9%.

See our latest analysis for Fortescue Metals Group

In the above chart we have measured Fortescue Metals Group's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Fortescue Metals Group here for free.

The Trend Of ROCE

Fortescue Metals Group is showing promise given that its ROCE is trending up and to the right. The figures show that over the last five years, ROCE has grown 839% whilst employing roughly the same amount of capital. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.

The Bottom Line

As discussed above, Fortescue Metals Group appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. And a remarkable 950% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.

If you want to know some of the risks facing Fortescue Metals Group we've found 2 warning signs (1 is potentially serious!) that you should be aware of before investing here.

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

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.

Rio Tinto shows improving price performance, earning an upgrade to its IBD Relative Strength Rating.

MELBOURNE, Australia, Jun 15, 2021–(BUSINESS WIRE)–Rio Tinto has partnered with the Australian Renewable Energy Agency (ARENA) to study whether hydrogen can replace natural gas in alumina refineries to reduce emissions.

Rio Tinto will conduct a $1.2 million feasibility study, equally funded with ARENA through a $580,000 grant, into using clean hydrogen to replace natural gas in the calcination process of refining at the Yarwun aumina refinery in Gladstone.

The study program includes work to be done at Rio Tinto’s Bundoora Technical Development Centre in Melbourne, where Rio Tinto’s in-house development capability has now been extended to hydrogen.

ARENA CEO Darren Miller said "If we can replace fossil fuels with clean hydrogen in the refining process for alumina, this will reduce emissions in the energy and emissions intensive refining stage of the aluminium supply chain. Exploring these new clean energy technologies and methods is a crucial step towards producing green aluminium.

"This study will investigate a potential technology that can contribute to the decarbonisation of the Australian alumina industry. If successful, the technical and commercial lessons from Rio Tinto’s study could lead to the implementation of hydrogen calcination technology, not only in Australia, but also internationally."

Rio Tinto Aluminium Pacific Operations acting managing director Daniel van der Westhuizen said "We see the ARENA and Rio Tinto-funded study as a step towards reducing refinery emissions and one that has the potential to play an important part in Rio Tinto’s commitment to decarbonisation.

"We’re investing in work that needs to be done, not only to decarbonise one of our sites, but also to help provide a lower-emissions pathway for Rio Tinto and the global aluminium industry.

"We recognise we are on a long road towards reducing emissions across our operations and there is clearly more work to be done. But projects such as this are an important part of helping us get there."

The study comprises two distinct work packages:

• Preliminary engineering and design study conducted to understand the construction and operational requirements of a potential demonstration project at the Yarwun alumina refinery.

• Simulating the calcination process using a lab scale reactor at the Bundoora Technical Development Centre.

Once complete, the study will inform the viability of a potential demonstration project. Rio Tinto has lodged patents for the hydrogen calcination process.

Rio Tinto is aiming to reach net zero emissions across its operations by 2050. Across the company, it is targeting a 15% reduction in absolute emissions and a 30% reduction in emissions intensity by 2030, from a 2018 baseline.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005510/en/

Contacts

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

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

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

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

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

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

riotinto.com

Category: General

CRANBROOK, BC / ACCESSWIRE / June 15, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL)("EPL" or "Eagle Plains") has mobilized crews to commence exploration fieldwork on the Dictator Project, located 70km east of Vernon, B.C. (the "Property"). EPL holds the exclusive right to obtain a 100% interest in the property (details below). Current fieldwork will consist of prospecting and soil geochemical sampling which follows a 2-Phase airborne magnetometer survey carried out by Eagle Plains in late 2020 and early 2021. The survey outlined two prominent magnetic features within an area where high-grade gold mineralized float boulders were located during the summer of 2020. Permitting is underway for future diamond drilling, with program scope to be determined based on results from the current program. 2021 program work will be managed by TerraLogic Exploration Services of Cranbrook, BC.

See Dictator Project Location Map here

The Dictator Property is road-accessible and located within rocks of the prolific Quesnellia Terrane, host to many major B.C. porphyry deposits such as Highland Valley, Gibraltar, Mount Polley, Mount Milligan, Copper Mountain and others. Despite the rich endowment of mineralization in these rocks, the Dictator area has seen relatively little exploration activity by industry or government. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Dictator property.

See Dictator Regional Projects Map here

The Property consists of 6 tenures comprising 2578 ha overlying Jurassic-aged porphyritic intrusive rocks that are host to parallel gold-bearing veins that have seen limited past production at the Dictator and Morning occurrences. During a property inspection carried out by Eagle Plains personnel in Summer, 2020, grab samples from the Morning workings ranged from trace values to a high of 39.4 g/t gold and 912 g/t silver (sample TTLPR016*) and 1.31 g/t gold, 205 g/t silver, 1.88% lead, 5.03% zinc and 0.12% cadmium (sample TTLPR015*).

Prospecting in 2020 resulted in the discovery of numerous float boulders containing brecciated semi-massive sulphides that consistently contain highly elevated gold, lead and zinc mineralization with values ranging from trace quantities to a high of 5.84 g/t gold, 30.6 g/t Ag, 3680 ppm lead and 674 ppm zinc (sample TTLPR010*-float boulder). The source of the boulders is unknown and will be the focus of ongoing work. *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.

Over the winter of 2020/2021, Eagle Plains carried out two airborne geophysical (magnetometer) surveys which outlined two prominent magnetic features which appear to be related to known mineralization and also correspond with the area within which mineralized float boulders were located.

See Dictator Airborne Geophysical Results Map here

Dictator Option

Eagle Plains holds the exclusive option with Aurum Vena Mineral Resources Corp. of Cherryville, BC, whereby EPL may earn up to a 100% interest in the Dictator (formerly Lightning Peak) Property. Under terms of the agreement, EPL will make exploration expenditures totalling $150,000, cash payments of $70,000 and share payments of 250,000 shares over a four-year period to earn its interest. A one percent net smelter return royalty will be reserved for the vendor, which may be purchased by Eagle Plains for $1M.

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 Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this 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/651469/Eagle-Plains-Commences-Exploration-Activity-at-Dictator-Gold-Project-South-central-British-Columbia

Chart of the Week

– New Mexico’s oil production hit a record high in March 2021, averaging 1.16 mb/d, and natural gas output hit 6.19 Bcf/d.

– The March increases were the largest monthly increases on record (although some of the gains came from restarted wells that shuttered during the February blackouts).

– In 2020, New Mexico’s oil production rose by 133,000 bpd, or 15%.

Market Movers

• BP BP is aiming to enter offshore wind in Norway.

• Earthstone Energy ESTE announced that it has acquired working interests in Eagle Ford assets for $48 million in cash.

• Six oil majors are vying to partner with Qatar to develop the country’s natural gas fields and LNG projects. The list includes ExxonMobil XOM, Royal Dutch Shell RDS.A, Total Energies SE TOT, ConocoPhillips COP, Eni E, and Chevron CVX

Tuesday, June 15, 2021

Oil prices are up at the start of the week on growing demand optimism. “Oil prices really are in a positive June upswing as demand and supply are recovering in an unequal speed,” Rystad’s Louise Dickson said in a statement.

Oil prices hit 32-month high. Oil prices rose early on Monday, with the U.S. benchmark hitting a 32-month high and Brent rising above $73 per barrel as the market is growing increasingly bullish on-demand while the return of Iranian oil looks more distant than initially thought.

Shell considers selling Permian assets. Royal Dutch Shell RDS.A is considering a sale of its Permian assets, hoping to rase $10 billion. Shell’s Permian operations produced 193,000 barrels of oil equivalent per day in 2020, or about 6% of the company’s total output.

Shipping costs driving up prices. The skyrocketing costs of shipping are driving up prices for commodities across the globe. Shipping costs are up 547% relative to the seasonal average for the last five years.

Investors see green push leaving oil market short on supply. Bets from hedge funds and money managers are becoming more bullish, and analysts say that a growing number of investors see a supply shortage coming as a global push for energy transition leaves the world short on oil supply in the years ahead. “This is the basis for the next oil crisis,” Leigh Goehring, managing partner at commodities-focused investment firm Goehring & Rozencwajg Associates, told the WSJ. “We’re in uncharted territory.”

RBC: U.S. shale might be needed. RBC argues that OPEC+ may not have enough spare capacity to satiate the market next year, and more U.S. shale supply might be needed. “In the event that the U.S. remains status quo and does not grow next year, global stocks could be nearly 400 million barrels lower, from entry to exit in 2022,” wrote Michael Tran, commodity strategist at RBC Capital Markets. “Put another way, market balances only begin to reach a state of equilibrium if U.S. production grows by 1.2 million bpd next year. Anything short of that and balances will remain tight. And this comes after virtually all of OPEC+ spare capacity has returned to the market.”

G-7 call for end of coal finance. G-7 countries did not agree on a full phaseout of coal, but agreed to cut off government-backed financing for new coal projects that lack carbon capture. G-7 countries also agreed on a goal to cut emissions in half by 2030.

G-7 backs away from EV target. The G7 nations failed to set targets for EV sales in their push towards the electrification of transport at their latest meeting, pledging only to “intensify efforts in enhancing the offer of more sustainable transport modes”, the group said in its final communiqué today.

Nevada lithium project delayed. Lithium Americas Corp LAC delayed a highly-anticipated lithium mining project in Nevada while a court reviews whether the project was hastily approved during the Trump administration.

Commodity traders bet on Russian oil. Two commodity trading giants are betting big on a Russian oil project in a rare move that could make or break the oil traders’ fates – and oil market observers should be paying close attention.

Equinor ups renewables investment. Equinor EQNR outlined a strategy to ramp up renewables, setting a goal of having 50% of capex go to renewables by 2030, compared to 4% last year. It aims to have 12-16GW of renewables installed by that date. But the company declined to set declining targets for oil and gas production.

Natural gas prices shoot up. A heatwave in multiple parts of the U.S. has pushed up natural gas futures, with July Nymex contracts rising to $3.35/MMBtu.

Europe turns to coal as gas grows scarce. Coal use in Europe is up 10-15% this year due to cold weather and low natural gas inventories.

Lumber prices falling. Lumber prices staged a historic rally in recent months, but prices are now crashing, down by 42% since early May. “The rapid decline suggests a bubble that has burst and the question now is how low lumber prices will fall,” the Wall Street Journal wrote.

Related: Oil Markets Baffled As The IEA Calls For More Production

BofA: Exxon probably will raise its dividend. Bank of America believes shareholders who voted in favor of the board shake-up were likely focused on one thing: the dividend.

Japan bets on hydrogen. Japan is making a long-term bet on hydrogen, which critics view as unrealistic, but if it succeeds, could help build out a global supply chain.

Saudi Aramco borrows to fund its dividend. Saudi Aramco returned to the global debt market to raise cash despite higher oil prices, raising $6 billion in Islamic bonds. Aramco generated $18.3 billion in free cash flow in the first quarter, just short of the $18.75 billion in dividends it shelled out.

Biden administration looks to auction offshore wind tracts in NJ. The Biden administration on Friday announced that it would begin the formal process of selling leases to develop offshore wind farms in shallow waters between Long Island and New Jersey as part of its push to transition the nation to renewable energy.

Oil demand could surge by 8 mb/d. S&P Global Platts Analytics expects global oil demand to surge by 8.2 million b/d from May to August as major economies continue to recover from the pandemic.

Renewable energy’s employment problem. As the world reopens and the global and national economies begin to return to normal, the clean energy industry has run into the same problem as so many other economic sectors–there just aren’t enough workers.

The biggest threat to Europe’s battery boom. Weak carbon dioxide (CO2) emission rules for car sales across the European Union and the UK in the near term risk undermining what is shaping up to be a booming battery manufacturing industry in Europe, a clean transport campaign group has warned.

By Josh Owens for Oilprice.com

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Read this article on OilPrice.com

VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE: PVG) (“Pretivm” or the “Company”) today announced that it continues to intersect high grade gold mineralization in Phase 2 of the North Block resource expansion drill program at the Brucejack Mine in British Columbia.

Following up on the success of the Phase 1 drill program (see news release dated February 25, 2021) Pretivm initiated a second phase of drilling to test the extension of the North Block Zone to the northwest. The Phase 2 program identified high-grade gold mineralization with five intersections assaying above 1,000 grams per tonne gold. Results include, drill hole VU-2933 which assayed 561.6 grams per tonne gold over 15.0 meters, including 8,400 grams per tonne gold over 1.0 meter. In addition, drill hole VU-2932 assayed 306.6 grams per tonne gold over 19.5 meters, including 5,910 grams per tonne gold over 1.0 meter. High grade gold mineralization was intercepted up to 450 meters from the current resource shell.

“These impressive results confirm high-grade gold mineralization in the North Block Zone and further extend the potential of the Valley of the Kings deposit at Brucejack,” said Jacques Perron, President and Chief Executive Officer of Pretivm. “Based on the success of the second phase, we have initiated a third and fourth phase of the drill program to further delineate the potential of the North Block Zone.”

The North Block Zone is located directly to the north of the Valley of the Kings deposit. The resource expansion exploration program is designed to test for Valley of the Kings style mineralization to the north and at depth. Phase 2 of the program was drilled from the 1150 and 1070 levels in the mine, targeting an area extending up to 450 meters north of the current resource shell. Phase 3 of the program will infill between the existing drill fans and the newly designed Phase 4 of the program will test an area immediately to the northwest of the current drilling.

North Block – Phase 2 Results

Phase 2 of the North Block resource expansion drill program comprised 22,964 meters in 83 drill holes. Drilling from the 1150 level intersected the extension of the Domain 13 Stockwork, which is currently being mined in the Valley of the Kings. Drilling from the 1070 level intersected the recently identified corridor of gold mineralization in the footwall of the Domain 13 structure. This corridor features coarse electrum in northwest oriented quartz-carbonate veins within a broader halo of lower grade gold mineralization.

For a plan and section view of the 2020 North Block Phase 2 program please see the following link: http://ml.globenewswire.com/Resource/Download/a0d0b719-e832-45c0-b1a2-c18be5099170.

Significant drill results are shown below:

• Hole VU-2933 intersected 561.6 grams per tonne gold over 15.0 meters, including 8,400 grams per tonne gold and 4,900 grams per tonne silver over 1.0 meters.

• Hole VU-2932 intersected 306.6 grams per tonne gold over 19.5 meters, including 5,910 grams per tonne gold and 3,400 grams per tonne silver over 1.0 meters.

• Hole VU-2962 intersected 191.6 grams per tonne gold over 14.0 meters, including 1,795 grams per tonne gold and 1,375 grams per tonne silver over 1.0 meters.

• Hole VU-2859 intersected 31.6 grams per tonne gold over 51.0 meters, including 1,515 grams per tonne gold over 1.0 meters.

• Hole VU-2967 intersected 61.7 grams per tonne gold over 17.5 meters, including 993 grams per tonne gold over 1.0 meters.

2021 Resource Expansion Drilling and Near-Mine Exploration Program

The resource expansion drill program is currently targeting the North Block Phase 3 and Phase 4 and the 1080 East Zone. In early July, two drills from underground will be repositioned to complete a 13,000-meter resource expansion drill program at Gossan Hill from surface. At the Bridge Zone, 11,000-meters of underground resource expansion drilling is expected to start in late August.

The near-mine exploration program is expected to start in mid-June with two additional drills on surface. The program will focus first on exploration targets at Shore Zone and SG Zone. Then, to follow up on the successful discovery of epithermal style gold mineralization at Hanging Glacier, a 10,000-meter drill program will be initiated in late July (see news release dated December 16, 2020).

In addition to drilling, the near-mine exploration program will include a UAV magnetic survey, MT and IP geophysical surveys, soil sampling and prospecting over the four-kilometer trend from Brucejack to Hanging Glacier.

Stephanie Wafforn, P.Geo., Pretivm’s Resource Manager is the Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for the Mineral Resource expansion drill program and the near-mine exploration program and has reviewed and approved the scientific and technical information in this news release related thereto.

Table 1: Selected North Block Phase 2 Results, June 2021 (VU-2762 to VU-2969)^(1,2)

⁽¹⁾ True thickness to be determined.
⁽²⁾ All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP-MS finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. ALS Chemex is independent of Pretivm.

About Pretivm

Pretivm is an intermediate gold producer with the high-grade gold underground Brucejack Mine.

For further information contact:

Troy Shultz
Manager, Investor Relations &
Corporate Communications

Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
invest@pretivm.com
(SEDAR filings: Pretium Resources Inc.)

Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as “forward-looking information”), including the “safe harbour” provisions of Canadian provincial securities legislation and the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the U.S. Securities Act of 1933, as amended. Wherever possible, words such as “plans”, “expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “modeled”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking information. Forward-looking information may include, but is not limited to: results, analyses and interpretations of exploration and drilling programs; our mining (including mining methods), expansion, exploration and development activities, including the reverse circulation drill program, our definition, sustaining, expansion and underground exploration drill programs and our grassroots exploration program, and the plans, specifications, targets, results, benefits, costs and timing thereof; expectations around grade of gold and silver production; Brucejack Mine production rate and gold recovery rate; our operational grade control program, including plans with respect to our infill drill program and our local grade control model; grade reconciliation, updated geological interpretation and mining initiatives with respect to the Brucejack Mine; our management, operational plans and strategy; capital, sustaining and operating cost estimates and timing thereof; the future price of gold and silver; our liquidity and the adequacy of our financial resources (including capital resources); our intentions with respect to our capital resources; capital allocation plans; the estimation of mineral resources and mineral resources including any updates thereto; parameters and assumptions used to estimate mineral resources and mineral resources; realization of mineral resource and mineral resource estimates; our estimated life of mine and life of mine plan for the Brucejack Mine; production and processing estimates and estimated rates; estimated economic results of the Brucejack Mine; predicted metallurgical recoveries for gold and silver; geological and mineralization interpretations; development of our Brucejack Mine and timing thereof; timelines and similar statements relating to the economic viability of the Brucejack Mine, including mine life, total tonnes mined and processed and mining operations; updates to our mineral resources and mineral resources and life of mine plan for the Brucejack Mine, and the anticipated effects and timing thereof; timing, receipt, and anticipated effects of, and anticipated capital costs in connection with, approvals, consents and permits under applicable legislation; the effects of the novel coronavirus (2019-nCoV) outbreak as a global pandemic and at the Brucejack Mine, including anticipated operational and financial impacts, and our response and contingency plans; the effectiveness and costs of our COVID-19 management plans including related protocols and procedures. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results, actions, events, conditions, performance or achievements to materially differ from those expressed or implied by the forward-looking information including, without limitation, those related to: the effect of indebtedness on cash flow and business operations; the effect of a pandemic and particularly the COVID-19 outbreak as a global pandemic on the Company’s business, financial condition and results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, financial condition and results of operations; the effects of the COVID-19 outbreak as a global pandemic and at the Brucejack Mine, including anticipated operational and financial impacts and our response and contingency plans; the effectiveness and costs of our COVID-19 management plans, including related protocols and procedures; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; our production, grade of gold, milling recovery, cash flow and cost estimates, including the accuracy thereof; commodity price fluctuations, including gold and silver price volatility; the accuracy of our Mineral Resource and Resource estimates (including with respect to size, grade and mining and milling recoverability) and the geological, operational costs and price assumptions on which they are based; uncertainties relating to inferred Mineral Resources being converted into Measured or Indicated Mineral Resources; our ability to maintain or increase our annual production of gold at the Brucejack Mine or discover, develop or acquire Mineral Resources for production; dependency on the Brucejack Mine for our future operating revenue; the development of our properties and expansion of our operations; our need or ability to raise enough capital to mine, develop, expand or complete further exploration programs on our mineral properties; our ability to generate operating revenues and cash flow in the future; failure of counterparties to perform their contractual obligations; general economic conditions; the inherent risks in the mining industry; the commercial viability of our current and any acquired mineral rights; availability of suitable infrastructure or damage to existing infrastructure; transportation, processing and refining risks; maintaining satisfactory labour relations with employees and contractors; significant governmental regulations, including environmental regulations; non-compliance with permits that are obtained or delay in obtaining or renewing, failure to obtain or renew permits required in the future; increased costs and restrictions on operations due to compliance with health, safety and environmental laws and regulations; compliance with emerging climate change regulation and the detrimental effects of climate change; potential opposition from non-governmental organizations; uncertainty regarding unsettled First Nations rights and title in British Columbia; maintaining our social license to operate; uncertainties related to title to our mineral properties and surface rights; land reclamation and mine closure requirements; our ability to identify and successfully integrate any material properties we acquire; currency exchange rate fluctuations; competition in the mining industry for properties, qualified personnel and management; our ability to attract and retain qualified management and personnel; potential inability to attract development partners or our ability to identify attractive acquisitions; compliance with foreign corrupt practices regulations and anti-bribery laws; changes to rules and regulations, including accounting practices; limitations in our insurance coverage and the ability to insure against certain risks; risks related to ensuring the security and safety of information systems, including cyber security risks; significant growth could place a strain on our management systems; share ownership by our significant shareholders and their ability to influence our operations and governance and, in case of sales of our shares by such significant shareholders, our share price; failure to comply with certain terms of the convertible notes; reputational risks; and certain actions under United States federal securities laws may be unenforceable. This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance or achievements to differ from those anticipated, estimated or intended. Our forward-looking information is based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond our control. In connection with the forward-looking information contained in this news release, we have made certain assumptions about, among other things: our business and operations and that no significant event will occur outside of our normal course of business and operations (other than as expressly set out herein); planned exploration, development and production activities and the results, costs and timing thereof; future price of gold and silver and other metal prices; the accuracy of our Mineral Resource and Mineral Resource estimates and related information, analyses and interpretations (including with respect to any updates or anticipated updates); the geology and mineralization of the Brucejack Project; operating conditions; capital and operating cost estimates; the results, costs and timing of future exploration and drilling; timelines and similar statements relating to the economic viability of the Brucejack Mine; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and permits; obtaining required renewals for existing approvals, consents, licenses and permits; the geopolitical, economic, permitting and legal climate that we operate in; the adequacy of our financial resources, and our ability to raise any necessary additional capital on reasonable terms; commodity prices; currency exchange rates and interest rates; political and regulatory stability; requirements under applicable laws; market competition; sustained labour stability and availability of equipment; positive relations with local groups; stability in financial capital markets; and the impact of the COVID-19 outbreak. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained in this news release. Additional information about the risks and uncertainties concerning forward-looking information and material factors or assumptions on which such forward-looking information is based is provided in our public disclosure documents as filed in Canada on SEDAR at www.sedar.com and in the United States through EDGAR at the Security and Exchange Commission’s (the “SEC”) website at www.sec.gov. Forward-looking information is not a guarantee of future performance. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Forward-looking information involves statements about the future and is inherently uncertain, and our actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. For the reasons set forth above, readers should not place undue reliance on forward-looking information. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. Neither the TSX nor the NYSE has approved or disapproved of the information contained herein.

Figure 1

Location of the Avispa Exploration Property Area and major copper mines in northern Chile.

TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) is pleased to announce the commencement of exploration of its 170 km² Avispa copper molybdenum exploration concessions (Avispa or the “property”) located in the Atacama Desert of northern Chile. The Avispa project is situated within the well-defined north to south trending late Paleocene to early Eocene Cu-Mo porphyry belt of northern Chile that hosts some giant operating porphyry copper mines. The property is located approximately 40 km north of BHP’s Spence Cu-Mo mine and KGHM’s Sierra Gorda Cu-Mo mine which are situated in this belt. Avispa is also 50 km west of Codelco’s Chuquicamata supergiant porphyry copper mine that occurs within the younger late Eocene – early Oligocene porphyry belt (Figure 1). The property is surrounded by major mining companies with exploration and mining concessions including; Codelco in the north and Freeport and Glencor to the south with Antofagasta and SQM to the east and west.

The prospective geology of the Avispa project is below a sequence of cover rocks consisting of gravels and fine-grained clastic sediments intercalated with evaporite deposits of Tertiary age. These sediments are underlain by Paleocene volcanics and Cretaceous monzodiorite and diorite porphyries (Figure 1). The Avispa district was previously the target of some wide-spaced exploration drilling.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “Montero has secured 17,000 hectares in this highly prospective copper district in proximity and in the same geological setting as world class operating copper molybdenum mines. The Avispa exploration program will be the first step in defining drill target areas to test for buried porphyry and porphyry-related copper molybdenum mineral deposits.”

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e8736c3f-158a-4086-af95-cf29fd57cb02

Planned Exploration Program
Montero has completed a thorough investigation of historical information on exploration in this highly prospective area and aims to utilize cutting edge exploration technology with the objective of developing drilling targets. The Company has planned an exploration program that includes; geological mapping, surface sampling, ground, and airborne geophysical surveys.

Reconnaissance mapping has shown extensive areas of Tertiary evaporites with intercalated sediments that overlay older volcanic and intrusive rocks hosting the porphyry deposits in the area. The area will be initially mapped and prospected on a scale of 1:10,000. A rock chip and soil sampling program will be undertaken to help define geochemical signatures of any buried mineralization. Our geologists will also sample surface RC stockpiles that have been left next to RC drill holed left by previous companies that has drilled in the area. Geophysical work planned in the future will include airborne magnetics over selected areas of the property to define possible buried porphyry targets and controlling structural features. Targets will be prioritized for reverse circulation drill testing.

Previous companies to have explored Avispa include BHP that conducted limited drilling on the property at 2 km to 3 km spacing as part of a regional exploration program. Montero believes that there is potential for buried porphyry and porphyry-related deposits with smaller footprints than those sought by major companies.

Montero’s Chief Geologist, Marcial Vergara, has reviewed publicly available data on Avispa and has conducted a field visit. Marcial previously worked for Codelco and Anglo American, both major operating copper mining companies in Chile. Montero has adopted a prospect generator model at Avispa where it will de-risk the project and carry out limited exploration while seeking a partner to advance the project through the drill phase. This will provide Montero shareholders with exposure to the copper space while it continues to focus on the gold-silver potential of southern Chile.

Qualified Person's Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr.Sci.Nat. and Sr. Marcial Vergara B.Sc. who are qualified persons for the purpose of National Instrument 43-101. Sr Vergara is based in Santiago and has more than 30 years’ experience in copper exploration experience in Chile.

About Montero
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Latin America. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Latin America. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding.

For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: ir@monteromining.com
Tel: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.com

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the Share Consolidation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the agreement, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the agreement on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Vancouver, British Columbia–(Newsfile Corp. – June 15, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) ("Millennial" or the "Company") is pleased to announce that it has been successful in a recent Mining Court lottery hearing and was awarded priority rights over the areas covered by PPG 01 (formerly La Union), and PPG 03 (formerly Aguamarga 19) mining licenses ("minas"). The company has exercised those rights and the title transfer is in process. The two new minas are 968.7 hectares (ha) and 394.8 hectares respectively and increase the Company's landholdings at the Pastos Grandes Salar to approximately 14,091 hectares. The PPG 01 license is just north of the Pastos Grandes Salar and is of strategic importance to the Company for project infrastructure and as a potential supplemental source of fresh water.

Farhad Abasov, President and CEO, commented, "We are very pleased to have the opportunity to expand our land position at the Pastos Grandes Salar which now totals just over 14,000 hectares. The acquisition of these licenses, particularly PPG 01, allows Millennial to continue to develop and plan our Project infrastructure and it also provides the Project with the potential to expand significantly the sources of fresh water for our processing facility. Millennial is fully engaged at Pastos Grandes with pilot plant operations continuing and discussions progressing with a number of off-takers and strategic investors."

The PPG 01 mina is strategically located, contiguous with Company's Papadopolus LXXIV mina to the west and the Company's Taba PG mina to the south. While subsequent optimization of the evaporation pond design and infrastructure system as detailed in the Company's Feasibility Study (see news release dated July 29, 2019) has moved the locations of ponds positioned over part of the PPG 01 license area, nonetheless to retain multiple development options, in 2019 the Company applied for an easement for the area. The awarding of these rights to Millennial negates the need for an easement, with potential delays, and development could proceed as necessary upon acquiring project financing and the decision to commence detailed engineering and construction. Topographically PPG 01 is relatively flat and underlain by alluvial fan material consisting primarily of sand and gravel. Geophysical studies and water-well drilling of this same fan on the adjacent Papadopolus LXXIV mina encountered significant fresh water indicating there is strong potential to encounter in PPG 01 similar water quantities and of similar quality.

The PPG 03 license is located southwest of the Pastos Grandes Salar and just north of the Pozuelos Salar. Reconnaissance investigations will begin to determine if the strategically located license warrants additional exploration.

This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a Qualified Person as that term is defined in National Instrument 43-101.

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

MILLENNIAL LITHIUM CORP.

"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 future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Argentina which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties, export policies or taxes in Argentina and other factors or information. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87486

TORONTO, June 15, 2021 /CNW/ – The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX: LIF) declared today a quarterly cash dividend of $1.75 per Common Share. The dividend is payable to holders of record at the close of business on June 30, 2021 and is to be paid on July 26, 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.

SOURCE Labrador Iron Ore Royalty Corporation

View original content: http://www.newswire.ca/en/releases/archive/June2021/15/c9511.html

TAMPA, FL / ACCESSWIRE / June 14, 2021 / The Mosaic Company (NYSE:MOS) announced its May 2021 sales revenue and volumes by business unit.

⁽¹⁾The revenue and tonnes presented are sales as recognized in the month and do not reflect current market conditions due to the delays between pricing and revenue recognition.
⁽²⁾Tonnes = finished product tonnes

About The Mosaic Company

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphates and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.

The Mosaic Company Contacts

Media:

Ben Pratt, 813-775-4206
benjamin.pratt@mosaicco.com

Investors:

Laura Gagnon, 813-775-4214 or
Paul Massoud, 813-775-4260
investor@mosaicco.com

SOURCE: The Mosaic Company

View source version on accesswire.com:
https://www.accesswire.com/651617/The-Mosaic-Company-Mosaic-Announces-May-2021-Sales-Revenue-and-Volumes

Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts usually don't make them change their opinion towards a company. This time it may be different. The coronavirus pandemic destroyed the high correlations among major industries and asset classes. We are now in a stock pickers market where fundamentals of a stock have more effect on the price than the overall direction of the market. As a result we observe sudden and large changes in hedge fund positions depending on the news flow. Let’s take a look at the hedge fund sentiment towards Chemung Financial Corp. (NASDAQ:CHMG) to find out whether there were any major changes in hedge funds' views.

Hedge fund interest in Chemung Financial Corp. (NASDAQ:CHMG) shares was flat at the end of last quarter. This is usually a negative indicator. Our calculations also showed that CHMG isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That's why at the end of this article we will examine companies such as Quad/Graphics, Inc. (NYSE:QUAD), OptiNose, Inc. (NASDAQ:OPTN), and Comstock Mining, Inc. (NYSE:LODE) to gather more data points.

In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's monthly stock picks returned 206.8% since March 2017 and outperformed the S&P 500 ETFs by more than 115 percentage points (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.

Matthew Lindenbaum of Basswood Capital

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, an activist hedge fund wants to buy this $26 biotech stock for $50. So, we recommended a long position to our monthly premium newsletter subscribers. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. With all of this in mind we're going to review the fresh hedge fund action encompassing Chemung Financial Corp. (NASDAQ:CHMG).

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

Heading into the second quarter of 2021, a total of 3 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 0% from the previous quarter. By comparison, 3 hedge funds held shares or bullish call options in CHMG a year ago. With the smart money's capital changing hands, there exists a select group of noteworthy hedge fund managers who were adding to their stakes meaningfully (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Matthew Lindenbaum's Basswood Capital has the biggest position in Chemung Financial Corp. (NASDAQ:CHMG), worth close to $4.2 million, accounting for 0.2% of its total 13F portfolio. The second most bullish fund manager is Renaissance Technologies, which holds a $3.1 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. In terms of the portfolio weights assigned to each position Basswood Capital allocated the biggest weight to Chemung Financial Corp. (NASDAQ:CHMG), around 0.19% of its 13F portfolio. Royce & Associates is also relatively very bullish on the stock, designating 0.01 percent of its 13F equity portfolio to CHMG.

Earlier we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren't any hedge funds dumping their holdings during the third quarter, there weren't any hedge funds initiating brand new positions. This indicates that hedge funds, at the very best, perceive this stock as dead money and they haven't identified any viable catalysts that can attract investor attention.

Let's also examine hedge fund activity in other stocks similar to Chemung Financial Corp. (NASDAQ:CHMG). These stocks are Quad/Graphics, Inc. (NYSE:QUAD), OptiNose, Inc. (NASDAQ:OPTN), Comstock Mining, Inc. (NYSE:LODE), Annovis Bio, Inc. (NYSE:ANVS), Spark Networks SE (NYSE:LOV), Select Bancorp, Inc. (NASDAQ:SLCT), and Five Star Senior Living Inc. (NASDAQ:FVE). This group of stocks' market values resemble CHMG's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position QUAD,10,9438,2 OPTN,10,6714,0 LODE,4,1097,0 ANVS,6,10079,5 LOV,6,44401,-3 SLCT,5,11115,0 FVE,11,27833,0 Average,7.4,15811,0.6 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 7.4 hedge funds with bullish positions and the average amount invested in these stocks was $16 million. That figure was $9 million in CHMG's case. Five Star Senior Living Inc. (NASDAQ:FVE) is the most popular stock in this table. On the other hand Comstock Mining, Inc. (NYSE:LODE) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Chemung Financial Corp. (NASDAQ:CHMG) is even less popular than LODE. Our overall hedge fund sentiment score for CHMG is 23. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Hedge funds dodged a bullet by taking a bearish stance towards CHMG. Our calculations showed that the top 10 most popular hedge fund stocks returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.2% in 2021 through June 11th but managed to beat the market again by 3.3 percentage points. Unfortunately CHMG wasn't nearly as popular as these 5 stocks (hedge fund sentiment was very bearish); CHMG investors were disappointed as the stock returned 2.8% since the end of the first quarter (through 6/11) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market since 2019.

Get real-time email alerts: Follow Chemung Financial Corp (NASDAQ:CHMG)

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

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Is Alexco Resource Corp. (NYSE:AXU) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas.

Hedge fund interest in Alexco Resource Corp. (NYSE:AXU) shares was flat at the end of last quarter. This is usually a negative indicator. Our calculations also showed that AXU isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That's why at the end of this article we will examine companies such as Summit Financial Group, Inc. (NASDAQ:SMMF), DSP Group, Inc. (NASDAQ:DSPG), and Big 5 Sporting Goods Corporation (NASDAQ:BGFV) to gather more data points.

Today there are many metrics stock market investors put to use to size up stocks. A pair of the less known metrics are hedge fund and insider trading activity. We have shown that, historically, those who follow the top picks of the top investment managers can outclass their index-focused peers by a healthy margin (see the details here). Also, our monthly newsletter's portfolio of long stock picks returned 206.8% since March 2017 (through May 2021) and beat the S&P 500 Index by more than 115 percentage points. You can download a sample issue of this newsletter on our website .

Eric Sprott of Sprott Asset Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, an activist hedge fund wants to buy this $26 biotech stock for $50. So, we recommended a long position to our monthly premium newsletter subscribers. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind we're going to view the key hedge fund action encompassing Alexco Resource Corp. (NYSE:AXU).

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

At Q1's end, a total of 3 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 0% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in AXU over the last 23 quarters. So, let's check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

The largest stake in Alexco Resource Corp. (NYSE:AXU) was held by Sprott Asset Management, which reported holding $0.2 million worth of stock at the end of December. It was followed by Citadel Investment Group with a $0.1 million position. The only other hedge fund that is bullish on the company was Millennium Management.

Earlier we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren't any hedge funds dumping their holdings during the third quarter, there weren't any hedge funds initiating brand new positions. This indicates that hedge funds, at the very best, perceive this stock as dead money and they haven't identified any viable catalysts that can attract investor attention.

Let's now review hedge fund activity in other stocks – not necessarily in the same industry as Alexco Resource Corp. (NYSE:AXU) but similarly valued. We will take a look at Summit Financial Group, Inc. (NASDAQ:SMMF), DSP Group, Inc. (NASDAQ:DSPG), Big 5 Sporting Goods Corporation (NASDAQ:BGFV), Farmland Partners Inc (NYSE:FPI), Kaleido BioSciences, Inc. (NASDAQ:KLDO), Uxin Limited (NASDAQ:UXIN), and Village Super Market, Inc. (NASDAQ:VLGEA). This group of stocks' market valuations are closest to AXU's market valuation.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position SMMF,4,10966,0 DSPG,13,54197,0 BGFV,14,27074,-3 FPI,5,1965,-3 KLDO,6,7960,4 UXIN,3,5133,0 VLGEA,7,30340,-3 Average,7.4,19662,-0.7 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 7.4 hedge funds with bullish positions and the average amount invested in these stocks was $20 million. That figure was $0 million in AXU's case. Big 5 Sporting Goods Corporation (NASDAQ:BGFV) is the most popular stock in this table. On the other hand Uxin Limited (NASDAQ:UXIN) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Alexco Resource Corp. (NYSE:AXU) is even less popular than UXIN. Our overall hedge fund sentiment score for AXU is 23. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Hedge funds clearly dropped the ball on AXU as the stock delivered strong returns, though hedge funds' consensus picks still generated respectable returns. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.2% in 2021 through June 11th and still beat the market by 3.3 percentage points. A small number of hedge funds were also right about betting on AXU as the stock returned 17.1% since Q1 (through June 11th) and outperformed the market by an even larger margin.

Get real-time email alerts: Follow Alexco Resource Corp (NYSE:AXU)

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

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Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. And in light of that, the trends we're seeing at Grange Resources' (ASX:GRR) look very promising so lets take a look.

Understanding Return On Capital Employed (ROCE)

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

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

0.28 = AU$224m ÷ (AU$874m – AU$84m) (Based on the trailing twelve months to December 2020).

Therefore, Grange Resources has an ROCE of 28%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 8.9%.

See our latest analysis for Grange Resources

Historical performance is a great place to start when researching a stock so above you can see the gauge for Grange Resources' ROCE against it's prior returns. If you're interested in investigating Grange Resources' past further, check out this free graph of past earnings, revenue and cash flow.

So How Is Grange Resources' ROCE Trending?

The fact that Grange Resources is now generating some pre-tax profits from its prior investments is very encouraging. About five years ago the company was generating losses but things have turned around because it's now earning 28% on its capital. And unsurprisingly, like most companies trying to break into the black, Grange Resources is utilizing 159% more capital than it was five years ago. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.

What We Can Learn From Grange Resources' ROCE

Overall, Grange Resources gets a big tick from us thanks in most part to the fact that it is now profitable and is reinvesting in its business. And a remarkable 789% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue.

One more thing to note, we've identified 1 warning sign with Grange Resources and understanding this should be part of your investment process.

If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.

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.

The pandemic is helping to soften the reputation of mining companies, often cast as villains.

Most readers would already know that First Quantum Minerals' (TSE:FM) stock increased by 4.4% over the past three months. Given that the stock prices usually follow long-term business performance, we wonder if the company's mixed financials could have any adverse effect on its current price price movement Particularly, we will be paying attention to First Quantum Minerals' ROE today.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

Check out our latest analysis for First Quantum Minerals

How Is ROE Calculated?

ROE can be calculated by using the formula:

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

So, based on the above formula, the ROE for First Quantum Minerals is:

0.6% = US$65m ÷ US$10b (Based on the trailing twelve months to March 2021).

The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each CA$1 of shareholders' capital it has, the company made CA$0.01 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. 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 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.

First Quantum Minerals' Earnings Growth And 0.6% ROE

It is quite clear that First Quantum Minerals' ROE is rather low. Even when compared to the industry average of 15%, the ROE figure is pretty disappointing. Given the circumstances, the significant decline in net income by 3.2% seen by First Quantum Minerals over the last five years is not surprising. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.

So, as a next step, we compared First Quantum Minerals' 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 an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is First Quantum Minerals fairly valued compared to other companies? These 3 valuation measures might help you decide.

Is First Quantum Minerals Using Its Retained Earnings Effectively?

When we piece together First Quantum Minerals' low three-year median payout ratio of 1.1% (where it is retaining 99% of its profits), calculated for the last three-year period, we are puzzled by the lack of growth. This typically shouldn't be the case when a company is retaining most of its earnings. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.

Moreover, First Quantum Minerals has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 1.2%. Regardless, the future ROE for First Quantum Minerals is predicted to rise to 11% despite there being not much change expected in its payout ratio.

Conclusion

On the whole, we feel that the performance shown by First Quantum Minerals can be open to many interpretations. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. 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. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

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 often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So we'll take a look at whether insiders have been buying or selling shares in Artemis Resources Limited (ASX:ARV).

What Is Insider Selling?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, such insiders must disclose their trading activities, and not trade on inside information.

Insider transactions are not the most important thing when it comes to long-term investing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year'.

View our latest analysis for Artemis Resources

Artemis Resources Insider Transactions Over The Last Year

In the last twelve months, the biggest single purchase by an insider was when Executive Director Alastair Clayton bought AU$120k worth of shares at a price of AU$0.12 per share. That means that an insider was happy to buy shares at above the current price of AU$0.059. Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays for shares is very important. As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. The only individual insider to buy over the last year was Alastair Clayton.

Alastair Clayton bought a total of 2.00m shares over the year at an average price of AU$0.10. 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!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Does Artemis Resources Boast High Insider Ownership?

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data indicates that Artemis Resources insiders own about AU$4.4m worth of shares (which is 5.9% of the company). But they may have an indirect interest through a corporate structure that we haven't picked up on. We do generally prefer see higher levels of insider ownership.

What Might The Insider Transactions At Artemis Resources Tell Us?

Our data shows a little insider buying, but no selling, in the last three months. That said, the purchases were not large. But insiders have shown more of an appetite for the stock, over the last year. We'd like to see bigger individual holdings. However, we don't see anything to make us think Artemis Resources insiders are doubting the company. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Artemis Resources. Our analysis shows 6 warning signs for Artemis Resources (2 are concerning!) and we strongly recommend you look at them before investing.

But note: Artemis Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

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.

QUÉBEC CITY, June 11, 2021 (GLOBE NEWSWIRE) — Stelmine Canada (STH-TSXV) (“Stelmine” or the “Company”) is pleased to announce that it has closed its recently announced non-brokered private placement (the “Offering”). A total of 5,384,614 units of Stelmine (the "Units") were issued at a price of $0.13 per unit for gross proceeds of $700,000. Each Unit comprised one common share of Stelmine and one-half of a common share purchase warrant. Each full warrant entitles the holder to acquire one common share of the Company at $0.20 for a period of 36 months from issuance. The warrants are callable from Stelmine should the common shares of the company exceed $0.30 for a period of 20 consecutive trading days following the four-month hold.

Three (3) insiders of the Company participated in the private placement for aggregate gross proceeds of $16,750. These insiders purchased Units under the same terms as the other investors. The participation of these insiders is exempt from the formal valuation and shareholder approval requirements pursuant to Sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, on the basis that the fair market value of such participation or the consideration paid by such insiders does not exceed 25% of the market capitalization of the Company.

All securities issued in connection with this Offering are subject to a hold period of four months and one day. The private placement is subject to the approval of the TSX Venture Exchange. Stelmine has not filed a material change report in the 21 days preceding the placement other than in relation to the placement.

Stelmine has now raised total gross proceeds of $1.4 million this month in two separate financings with strategic investors. The funds will be used for exploration on the Courcy and Mercator Projects in the Caniapiscau region and for general working capital purposes. In connection with this placement, the Company will pay finder’s fees of $23,244.

About Stelmine Canada

Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities to the Eleonore mine. Stelmine has 100% ownership of 1,574 claims or 815 km² in this part of northern Quebec, highlighted by the Courcy and Mercator Projects.

Forward-looking statements

Certain information in this press release may contain forward-looking statements, such as statements regarding the expected closing of and the anticipated use of the proceeds from the Offering, acquisition and expansion plans, availability of quality acquisition opportunities, and growth of the Company. This information is based on current expectations and assumptions (including assumptions in connection with obtaining all necessary approvals for the Offering and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include those relating to the ability to complete the Offering on the terms described above. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Cautionary statement

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

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

For further information, contact:

Isabelle Proulx, President and CEO
Email: iproulx@stelmine.com
Tel: 418-626-6333

Follow us on:

Website : https://stelmine.com/en/
Twitter : https://twitter.com/Stelmine1
LinkedIn : http://www.linkedin.com/company/stelmine-canada-ltd
Facebook: https://www.facebook.com/StelmineCanada/

Resource stocks were driving the FTSE 100 to gains on Friday, lifting the index back toward levels not seen since before the COVID-19 pandemic.

TORONTO, June 11, 2021 /CNW/ – Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") will host its annual and special meeting of shareholders (the "Meeting") on Tuesday, July 6, 2021 at 11:00 a.m. (Eastern time). Out of an abundance of caution, to proactively address potential issues arising from the ongoing public health impact of COVID-19 while enabling greater participation of LAURION's shareholders, the Meeting will take place in a virtual-only format.

The Meeting will allow shareholders to listen to the proceedings and submit votes through the web-based platform. Details for shareholders and interested parties in attending the virtual meeting are found below. Participants are encouraged to login in approximately 15 minutes prior to the start time.

Date: Tuesday, July 6, 2021
Time: 11:00 a.m. Eastern Time
Meeting ID: 1164
URL: https://virtual-meetings.tsxtrust.com/en
Password: laurion2021 (case sensitive)

Instructions for joining the Meeting:

1. Type in https://virtual-meetings.tsxtrust.com/en/1164 on your browser at least 15 minutes before the Meeting starts. Please do not do a Google search. Do not use Internet Explorer.

2. Click on "I am a Guest" if you are an interested party or a shareholder not intending to vote.

In order to streamline the virtual meeting process, the Corporation strongly encourages shareholders to vote in advance of the Meeting using the Voting Instruction Form ("VIF") and Form of Proxy for the Meeting, which are available on SEDAR at www.sedar.com and also at https://docs.tsxtrust.com/2025. Proxies must be deposited with the Corporation's transfer agent and registrar, TSX Trust Company ("TSX Trust"), on or before 11:00 a.m. (Eastern time) on July 2, 2021.

Registered shareholders entitled to vote at the Meeting may attend and vote at the Meeting virtually by following the steps set out below:

1. Type in https://virtual-meetings.tsxtrust.com/en/1164 on your browser at least 15 minutes before the Meeting starts.

2. Click on "I have a control number".

3. Enter your 12-digit control number (on your proxy form).

4. Enter the password: laurion2021 (case sensitive).

5. When the ballot is opened, click on the "Voting" icon. To vote, simply select your voting direction from the options shown on screen and click "Submit". A confirmation message will appear to show your vote has been received.

Beneficial Shareholders entitled to vote at the Meeting may vote at the Meeting virtually by following the steps set out below:

1. Appoint yourself as proxyholder by writing your name in the space provided on the form of proxy or VIF.

2. Sign and send it to your intermediary, following the voting deadline and submission instructions on the VIF.

3. Obtain a control number by contacting TSX Trust by emailing tsxtrustproxyvoting@tmx.com the "Request for Control Number" form, which can be found here https://tsxtrust.com/resource/en/75.

4. Type in https://virtual-meetings.tsxtrust.com/en/1164 on your browser at least 15 minutes before the Meeting starts.

5. Click on "I have a control number".

6. Enter the control number provided by tsxtrustproxyvoting@tmx.com

7. Enter the password: laurion2021 (case sensitive).

8. When the ballot is opened, click on the "Voting" icon. To vote, simply select your voting direction from the options shown on screen and click Submit. A confirmation message will appear to show your vote has been received.

If you are a registered shareholder and you want to appoint someone else (other than the management nominees) to vote online at the Meeting, you must first submit your proxy indicating who you are appointing. You or your appointee must then register with TSX Trust in advance of the Meeting by emailing tsxtrustproxyvoting@tmx.com the "Request for Control Number" form, which can be found at https://tsxtrust.com/resource/en/75.

If you are a non-registered shareholder and want to vote online at the Meeting, you must appoint yourself as proxyholder and register with TSX Trust in advance of the Meeting by emailing tsxtrustproxyvoting@tmx.com the "Request for Control Number" form, which can be found at https://tsxtrust.com/resource/en/75.

Shareholders who have any questions or require further information with regard to voting their shares or attending the Meeting should contact TSX Trust, toll-free in North America at 1-866-600-5869 or by email at tmxeinvestorservices@tmx.com.

Further information related to the Meeting, including the matters to be voted on and how to attend the Meeting and vote, is set forth in the Corporation's management information circular dated May 27, 2021, which is available under LAURION's SEDAR profile at www.sedar.com.

About LAURION Mineral Exploration Inc.

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 228,052,731 outstanding shares of which approximately 79% are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

LAURION's emphasis is on the development of its flagship project, the 100% owned mid-stage 47 km² Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The recently acquired Brenbar Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine and LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.

Follow us on Twitter: @LAURION_LME

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to management's anticipated timing, format and conduct of the Meeting, LAURION's business, operations and condition, and management's objectives, strategies, beliefs and intentions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation's publicly filed documents. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.

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

SOURCE Laurion Mineral Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/June2021/11/c4189.html

Under the guidance of CEO Diana Hu, Eastern Platinum Limited (TSE:ELR) has performed reasonably well recently. In light of this performance, CEO compensation will probably not be the main focus for shareholders as they go into the AGM on 17 June 2021. However, some shareholders will still be cautious of paying the CEO excessively.

Check out our latest analysis for Eastern Platinum

Comparing Eastern Platinum Limited's CEO Compensation With the industry

According to our data, Eastern Platinum Limited has a market capitalization of CA$49m, and paid its CEO total annual compensation worth US$393k over the year to December 2020. We note that's an increase of 26% above last year. In particular, the salary of US$288.4k, makes up a huge portion of the total compensation being paid to the CEO.

For comparison, other companies in the industry with market capitalizations below CA$242m, reported a median total CEO compensation of US$124k. This suggests that Diana Hu is paid more than the median for the industry.

Speaking on an industry level, nearly 93% of total compensation represents salary, while the remainder of 7% is other remuneration. In Eastern Platinum's case, non-salary compensation represents a greater slice of total remuneration, in comparison to the broader industry. If total compensation veers towards salary, it suggests that the variable portion – which is generally tied to performance, is lower.

A Look at Eastern Platinum Limited's Growth Numbers

Eastern Platinum Limited has seen its earnings per share (EPS) increase by 24% a year over the past three years. It achieved revenue growth of 22% over the last year.

Overall this is a positive result for shareholders, showing that the company has improved in recent years. It's also good to see decent revenue growth in the last year, suggesting the business is healthy and growing. We don't have analyst forecasts, but you could get a better understanding of its growth by checking out this more detailed historical graph of earnings, revenue and cash flow.

Has Eastern Platinum Limited Been A Good Investment?

With a total shareholder return of 13% over three years, Eastern Platinum Limited shareholders would, in general, be reasonably content. But they would probably prefer not to see CEO compensation far in excess of the median.

To Conclude…

Given that the company's overall performance has been reasonable, the CEO remuneration policy might not be shareholders' central point of focus in the upcoming AGM. However, any decision to raise CEO pay might be met with some objections from the shareholders given that the CEO is already paid higher than the industry average.

CEO pay is simply one of the many factors that need to be considered while examining business performance. That's why we did our research, and identified 3 warning signs for Eastern Platinum (of which 1 is a bit concerning!) that you should know about in order to have a holistic understanding of the stock.

Switching gears from Eastern Platinum, if you're hunting for a pristine balance sheet and premium returns, this free list of high return, low debt companies is a great place to look.

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.

(Bloomberg) — BHP Group averted a strike at its second-largest copper mine in Chile after workers at the Spence operation accepted a final wage offer on the last day of mediated talks.

The deal will ease concerns over a potential stoppage that would have further tightened global supplies of the metal. It comes after staff at a BHP operations center in Santiago ended a strike and returned to work this week. Attention will now shift to wage talks at BHP’s giant Escondida mine.

About 92% of the 1,079 Spence operations and maintenance staff who voted accepted terms of the new three-year contract, according to a document provided by the union. Workers had rejected a previous proposal and BHP sought mediation that was extended through Thursday.

“In these times, the deal we reached is an important signal of how we should face Spence’s current and future challenges,” said Ana Zuniga, a spokesperson for BHP’s Pampa Norte, which comprises Spence and the Cerro Colorado mines.

Workers are “calm and glad” with a package that includes a 2% wage increase and a 15.5 million-peso ($21,600) bonus, as well as new benefits and other adjustments, Union President Ronald Salcedo said.

Surging copper prices and company profits are emboldening unions whose members have continued to work through the pandemic. On the other side, producers are looking to contain labor costs as inflation picks up, ore quality deteriorates and and host nations look for a bigger share of the windfall.

Still, the wage deal at Spence may bode well for collective bargaining that just kicked off at Escondida, the world’s largest copper mine that endured a 44-day strike in 2017. Wage talks in the top copper-producing nation add to supply risks at a time when recovering demand is tightening the global market.

BHP recently invested about $2.5 billion in upgrades at Spence, including a new concentrator, with the Pampa Norte division expected to produce 240,000-270,000 tons in fiscal year 2021, compared with 243,000 tons last year.

(Adds company comment and details on Spence.)

More stories like this are available on bloomberg.com

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

©2021 Bloomberg L.P.

Mining stocks steamed ahead on Friday, helping the FTSE 100 (^FTSE) to push to its highest level in a month.

Glencore (GLEN.L) rose more than 3%, Antofagasta (ANTO.L) climbed 2.5% higher and Evraz (EVR.L) was up 2.7% in noon trade, lifting London’s benchmark index to its highest since 10 May, when it touched a new record level since the pandemic began.

Newly-listed Thungela Resources (TGA.L), a spin-off from Anglo American (AAL.L) also pushed 2.4% higher on the day, while healthcare stocks also joined the precious metal and base metal miners on the rally.

It came as metal prices and oil prices rose on Friday as the International Energy Agency (IEA) said on Friday oil demand is set to rise above pre-COVID levels by the end of 2022, but that oil producers will need to boost production.

The Paris-based body expects consumption to rebound by 5.4 million barrels per day (bd) this year as vaccines are rolled out and economies reopen. Consumption declined by a record 8.6 million bd in 2020 as the coronavirus pandemic took a hold.

It expects a further 3.1 million bd increase in 2022, to average 99.5 million bd with an increase at the end of the year that will surpass the level of demand before the COVID pandemic.

Countries outside the Organisation of Petroleum Exporting Countries and its allies (OPEC+) group are expected to boost output by 1.6 million bd next year, to exceed 2019 levels.

While, OPEC+ countries will have 6.9 million bd of spare capacity even after lifting production by 2 million bd over the May-July period.

Read more: Oil demand will exceed pre-COVID levels by end of 2022

London miners were also boosted by reports that the UK economy grew 2.3% in April, the fastest rise since July 2020.

The figure, which follows strong growth of 2.1% in March, was slightly above Reuters poll consensus for a 2.2% increase as non-essential shops and outdoor hospitality reopened to the public after months of lockdown.

The services sector provided the biggest boost to the British economy, with output growing 3.4% during the month. 

However overall output remains 3.7% below the pre-pandemic levels seen in February last year. Output in the production sector fell by 1.3% in April 2021, the first fall since January 2021 as three of the four sectors contracted.

Watch: Could mining make a comeback in Cornwall?

Under the guidance of CEO Diana Hu, Eastern Platinum Limited (TSE:ELR) has performed reasonably well recently. In light of this performance, CEO compensation will probably not be the main focus for shareholders as they go into the AGM on 17 June 2021. However, some shareholders will still be cautious of paying the CEO excessively.

Check out our latest analysis for Eastern Platinum

Comparing Eastern Platinum Limited's CEO Compensation With the industry

According to our data, Eastern Platinum Limited has a market capitalization of CA$49m, and paid its CEO total annual compensation worth US$393k over the year to December 2020. We note that's an increase of 26% above last year. In particular, the salary of US$288.4k, makes up a huge portion of the total compensation being paid to the CEO.

For comparison, other companies in the industry with market capitalizations below CA$242m, reported a median total CEO compensation of US$124k. This suggests that Diana Hu is paid more than the median for the industry.

Speaking on an industry level, nearly 93% of total compensation represents salary, while the remainder of 7% is other remuneration. In Eastern Platinum's case, non-salary compensation represents a greater slice of total remuneration, in comparison to the broader industry. If total compensation veers towards salary, it suggests that the variable portion – which is generally tied to performance, is lower.

A Look at Eastern Platinum Limited's Growth Numbers

Eastern Platinum Limited has seen its earnings per share (EPS) increase by 24% a year over the past three years. It achieved revenue growth of 22% over the last year.

Overall this is a positive result for shareholders, showing that the company has improved in recent years. It's also good to see decent revenue growth in the last year, suggesting the business is healthy and growing. We don't have analyst forecasts, but you could get a better understanding of its growth by checking out this more detailed historical graph of earnings, revenue and cash flow.

Has Eastern Platinum Limited Been A Good Investment?

With a total shareholder return of 13% over three years, Eastern Platinum Limited shareholders would, in general, be reasonably content. But they would probably prefer not to see CEO compensation far in excess of the median.

To Conclude…

Given that the company's overall performance has been reasonable, the CEO remuneration policy might not be shareholders' central point of focus in the upcoming AGM. However, any decision to raise CEO pay might be met with some objections from the shareholders given that the CEO is already paid higher than the industry average.

CEO pay is simply one of the many factors that need to be considered while examining business performance. That's why we did our research, and identified 3 warning signs for Eastern Platinum (of which 1 is a bit concerning!) that you should know about in order to have a holistic understanding of the stock.

Switching gears from Eastern Platinum, if you're hunting for a pristine balance sheet and premium returns, this free list of high return, low debt companies is a great place to look.

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.

Eastern and Western veining horizons are extended in the Shepherd Zone, with numerous high-grade gold intercepts along a 400 metre strike extent

Figure 1

Schematic cross-section of the Shepherd vein system highlighting its relationship to Youle and potential targets at depth.

Figure 2

Longitudinal section of the Shepherd Zone Eastern Veining.

Figure 3

Photomicrograph of gold within the vein at 193.21m of BC187 highlighting the spatial relationship with quartz, carbonate, stibnite and siltstone.

Figure 4

Longitudinal section of the Shepherd Zone Western Veining

TORONTO, June 08, 2021 (GLOBE NEWSWIRE) — Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to provide an update on the newly discovered Shepherd Zone at its Costerfield Operation in Victoria, Australia.

The Eastern vein has now been traced over 300 metres (“m”) of strike length and approximately 100 m in vertical extent. The mineralization remains open to the south and at depth (Figure 2).

The Western vein has now been traced over 400 m of strike length and approximately 100 m in vertical extent and remains open to the south and at depth (Figure 4).

New Drilling Highlights:

Eastern Veining

• 172.3 g/t gold over true width of 0.27 m in BC213; and

• 69.5 g/t gold over true width of 1.11 m in BC210 including:

  • 406.0 g/t gold over true width of 0.14 m

Western Veining

• 33.7 g/t gold over true width of 3.22 m in BC201 including:

  • 127.0 g/t gold over true width of 0.69 m;

• 712.8 g/t gold over true width of 0.10 m in BC205; and

• 19.4 g/t gold over true width of 4.84 m in BC210 including:

  • 657.3 g/t gold over true width of 0.13 m

^{Note: Further intercept details including significant intercepts within composite intervals can be found in Table 1 in the Appendix to this document.}

Dominic Duffy, President and CEO of Mandalay, commented: “Over the past month, Mandalay’s increased focus on the Shepherd Zone has demonstrated great success with the Eastern and Western veining horizons extending 300 m and 400 m in strike length, respectively. The grades shown along strike within the Eastern veining are consistently high, with significant visible gold identified within each intercept along the top of the zone, demonstrating an exciting new high grade gold vein system (Figures 1,2 and 4).”

Mr. Duffy continued, “Mandalay is also encouraged by the indication that the two veining horizons merge towards the south, in an area that exhibits elevated widths and grades. This southern area remains unconstrained at depth.”

Mr. Duffy continued, “To date, drilling has been concentrated in the upper portions of the zone with a focus on optimizing the knowledge of the geometries and grades for near term mine planning. During the near-term, additional underground exploration drill platforms will be developed allowing for optimum drill intercept angle, which will slow the drill rates into the Shepherd Zone. Infill drilling will continue at an accelerated rate in the upper areas of the Shepherd Zone for medium-term mine planning, as well as to test for extensions of the vein system to the south and at depth.”

Mr Duffy concluded, “We are extremely excited about this discovery and the continuity of very high grades over many hundreds of meters in strike length. It is obviously important to understand the full dimensions of this vein system and the economic portions of the deposit to determine its overall impact on Costerfield’s long-term future. A video has been prepared by Mr. Chris Davis, Vice President of Operational Geology and Exploration, to further explain the information in this release. The video can be found on Mandalay’s website or by clicking here.”

The Shepherd Zone Extension

Since Mandalay’s last release on the Shepherd Zone drilling (April 26, 2021), drilling rates have been increased with a total of four underground drill rigs operating on the program. An additional 22 holes have been drilled with 29 significant intercepts assayed. Due to the accelerated nature of the program, not all significant intercepts have been assayed at present. Drilling to date has focused on delineating the upper reaches of the Shepherd system in support of short term mine planning activities, with further exploration at depth being prioritized in the following months once drill platforms have been established.

In general terms, the original interpreted orientation of the veining has been supported by the new drilling, and the two major horizons continue with new high-grade intercepts located as far as approximately 300 m south of the initial intercept encountered in BC176. The southern intercepts support the interpretation of a subvertical system extending down from the west dipping Youle structure with a shallow northern plunge to the interaction point. The concept of a convergence of these vein systems has also been demonstrated with the interpretation of this interaction at approximately 7000N leading to a zone of wide and high-grade veining to the south of the convergence. The southerly extension of the converged vein system is untested and represents an ongoing priority drill target.

Although the depth extension to this drilling has not been the recent focus, inferences of the system framework have been made with the forward modelling of results from the 2019 Costerfield Deeps drilling program. This work highlights a potentially significant interrupted anticlinal position at depth which has been shown to be anomalously mineralized within CD001 to the south. Vectoring analysis of the mineralization from the original Costerfield veining at surface to the Shepherd veining at depth suggest that this increasingly favourable environment exists approximately 400 m north of the CD001 intercept (initial Costerfield Deeps dill hole), indicating that this drill hole has intercepted south of the main endowment at depth (Figure 1).

Figure 1. Schematic cross-section of the Shepherd vein system highlighting its relationship to Youle and potential targets at depth.
https://www.globenewswire.com/NewsRoom/AttachmentNg/a445ccdc-1ba1-4c69-810d-66024300eace

Eastern Veining

A further 13 intercepts have been added to the previously defined Eastern veining. Excitingly, and consistent with targeting models, high grades have been discovered to the south underneath the southern high-grade domain of the currently modelled extents of Youle. Highlights include BC213 with 172.3 g/t gold over a true width of 0.27 m and BC212A with 69.5 g/t gold over a true width of 1.11 m. To date, consistent high grades are noted along the upper portion of the system with an approximate strike length of 200 m as shown in Figure 2.

Figure 2. Longitudinal section of the Shepherd Zone Eastern Veining.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3b58599-b614-4957-8bcf-06e549fa6551

Within the Eastern horizon, quartz veining becomes more consolidated south of BC187 and dispersed to the north with stibnite present alongside quartz veining within, and to the north of, BC187. Mineralogy remains consistent with the majority of gold as grains of up to 2mm hosted in quartz (Figure 3). At depth grades appears to diminish towards to the quartzite layer within the centre of the horizon shown in Figure 2.Drilling to date has not tested the corridor below the quartzite which has been known to be a disrupter of grade within the Cuffley orebody that lies approximately 2 km to the south of the Shepherd Zone. It is significant to note from the accumulated knowledge acquired from mining the Cuffley deposit that grade returns to the veining below the quartzite. Further drilling is therefore required to test this hypothesis at Shepherd.

Figure 3. Photomicrograph of gold within the vein at 193.21m of BC187 highlighting the spatial relationship with quartz, carbonate, stibnite and siltstone.
https://www.globenewswire.com/NewsRoom/AttachmentNg/94c80865-d6df-409c-afeb-4f46b3f4d631

Western Veining

The Western veining has also been intercepted repeatedly with recent drilling. Although intercepts have been less consistent in grade compared to the Eastern veining, structural continuity has been demonstrated to be consistent throughout the horizon indicating a strike length of approximately 400 m. The southernmost intercept BC210 is significant in both grade and width (19.4 g/t gold over a true width of 4.84 m), while BC201, approximately 40 m above, is likewise significant (33.7 g/t gold over a true width of 3.22 m) showing the mineralization is open still to the south. To the north the veining has been shown to extend up to the Youle structure with significant grades found in BC205 (712.8 g/t gold over a true width of 0.10 m). There is also veining approximately 20 m to the east of the Western veining intercepted in BC196 (58.8 g/t gold and 13.5% antimony over a true width of 0.23 m) and BC206 (115.0 g/t gold and 3.0% antimony over a true width of 0.14 m).

Gold bearing veining has been intercepted below the quartzite layer, however not to comparable levels of grade as encountered above the quartzite. Analysis of analogues within the Costerfield mineral field suggest that a westward shift of mineralization should be anticipated at depth, however, to date the area has not been adequately tested. Exploration of this area is expected in the coming months.

Figure 4. Longitudinal section of the Shepherd Zone Western Veining.
https://www.globenewswire.com/NewsRoom/AttachmentNg/874766af-18e6-44ff-9af3-1739e5d88d91

Reassessing the Costerfield Mineral System

In 2015, Mandalay embarked on a drilling campaign to identify the depth extension of the Cuffley mineralization. This was undertaken drilling from East to West to test this sub-vertical system and identified a series of veins analogous in orientation and mineralization to those noted in the Shepherd Zone. Significant grades were encountered within the area, however the intercepts were deep and were lower priorities than follow-up of nearer surface extensions to Cuffley. The discovery of the westerly dipping Youle deposit highlights an exploration target opportunity for a westerly dipping mineralized system, analogous to Youle, that the 2015 exploration program would not have tested effectively due to the orientation of drilling being sub parallel to the target system. This is a target currently under investigation and the results of the 2015 program are being reviewed in detail in conjunction with the evolving Shepherd interpretation. This updated targeting exercise aims to pursue a significant parcel of mineralization under the mined extent of the Cuffley orebody that mirrors the mode of mineralization of the Youle / Shepherd system.

Drilling and Assaying

All drilling reported in this document was completed from underground in Youle using 3 x LM90 and 1 x LM30 Boart Longyear diamond drill rigs operated by drill contractor Starwest Pty Ltd. All diamond drill core was logged and sampled by Costerfield geologists. All samples were sent to On Site Laboratory Services (OSLS) in Bendigo, Victoria, Australia, for sample preparation and analysis by fire assay for gold, and Atomic Absorption Spectroscopy (AAS) for antimony. Samples featuring coarse grained visible gold were assayed using a variant of fire assay known as screen fire assay. This method is routinely used to mitigate potential problems associated with heterogeneity in the distribution of coarse gold within drill samples. The procedure collects all heterogenous coarse gold by screening at 75µm after crushing and pulverisation, and subsequently fire assays the full resultant +75µm mass to extinction. A mass weighted average of gold grade of the sample is subsequently calculated from the +75µm fraction and 3 x splits of the -75µm fraction of the sample. Site geological and metallurgical personnel have implemented a QA/QC procedure that includes systematic submission of standard reference materials and blanks within batches of drill and face samples submitted for assay. Costerfield specific reference materials produced from Costerfield ore have been prepared and certified by Geostats Pty Ltd., a specialist laboratory quality control consultancy. See Technical Report entitled “Mandalay Resources – Costerfield Operation NI 43-101 Report” dated March 30, 2021, available on SEDAR (www.sedar.com) for a complete description of drilling, sampling, and assaying procedures.

Qualified Person:

Chris Davis, Vice President of Operational Geology and Exploration at Mandalay Resources, is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (MAusIMM CP(Geo)), and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.

For Further Information

Dominic Duffy
President and Chief Executive Officer

Edison Nguyen
Manager, Analytics and Investor Relations

Contact:
647.260.1566

About Mandalay Resources Corporation

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), with projects in Chile and Canada under care and maintenance, closure or development status. The Company is focused on growing its production profile and reducing costs to generate significant positive cashflow.

Mandalay’s mission is to create shareholder value through the profitable operation of both its Costerfield and Björkdal mines. Currently, the Company’s main objective is to continue mining the high-grade Youle vein at Costerfield, which continues to supply high-grade ore, and also focus on extending Youle’s Mineral Reserves at depth. At Björkdal, the Company will aim to increase production from the Aurora zone in the coming years, in order to maximize profit margins from the mine.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the exploration and development potential of the Shepherd zone (Costerfield). Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in commodity prices and general market and economic conditions. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. A description of additional risks that could result in actual results and developments differing from those contemplated by forward-looking statements in this news release can be found under the heading “Risk Factors” in Mandalay’s annual information form dated March 31, 2021, a copy of which is available under Mandalay’s profile at www.sedar.com. In addition, there can be no assurance that any inferred resources that are discovered as a result of additional drilling will ever be upgraded to proven or probable reserves. Although Mandalay has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Appendix

Table 1. Shepherd Drilling Composites

Note: LLD signifies an undetectable amount of antimony. Detection limit for the analysis used is 0.01%

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. Importantly, Base Resources Limited (ASX:BSE) does carry debt. But the more important question is: how much risk is that debt creating?

When Is Debt Dangerous?

Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Of course, the upside of debt is that it often represents cheap capital, especially when it replaces dilution in a company with the ability to reinvest at high rates of return. When we think about a company's use of debt, we first look at cash and debt together.

View our latest analysis for Base Resources

What Is Base Resources's Debt?

The image below, which you can click on for greater detail, shows that at December 2020 Base Resources had debt of US$24.5m, up from US$14.1m in one year. But it also has US$99.6m in cash to offset that, meaning it has US$75.1m net cash.

How Healthy Is Base Resources' Balance Sheet?

The latest balance sheet data shows that Base Resources had liabilities of US$90.2m due within a year, and liabilities of US$32.4m falling due after that. On the other hand, it had cash of US$99.6m and US$32.9m worth of receivables due within a year. So it can boast US$9.84m more liquid assets than total liabilities.

This short term liquidity is a sign that Base Resources could probably pay off its debt with ease, as its balance sheet is far from stretched. Simply put, the fact that Base Resources has more cash than debt is arguably a good indication that it can manage its debt safely.

But the other side of the story is that Base Resources saw its EBIT decline by 5.7% over the last year. If earnings continue to decline at that rate the company may have increasing difficulty managing its debt load. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if Base Resources can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.

Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. While Base Resources has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. During the last three years, Base Resources produced sturdy free cash flow equating to 79% of its EBIT, about what we'd expect. This cold hard cash means it can reduce its debt when it wants to.

Summing up

While we empathize with investors who find debt concerning, you should keep in mind that Base Resources has net cash of US$75.1m, as well as more liquid assets than liabilities. The cherry on top was that in converted 79% of that EBIT to free cash flow, bringing in US$75m. So is Base Resources's debt a risk? It doesn't seem so to us. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. Be aware that Base Resources is showing 3 warning signs in our investment analysis , and 1 of those makes us a bit uncomfortable…

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

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

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