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Goliath Resources Limited

Golddigger Property, Golden Triangle, B.C.

Bonanza High Grade Zone Highlights:

GD-24-262 collared from Goldsmith Pad intercepted four separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both remain open.
- Surebet Zone: 32.67 g/t AuEq or 1.05 oz/t AuEq (32.56 g/t Au and 8.92 g/t Ag) over 4.00 meters including 130.14 g/t Au or 4.18 oz/t AuEq (129.77 g/t Au and 30.25 g/t Ag) over 1.00 meter.
- Bonanza Zone 1: 13.34 g/t AuEq (13.11 g/t Au and 18.97 g/t Ag) over 6.00 meters including 15.99 g/t AuEq (15.71 g/t Au and 22.71 g/t Ag) over 5.00 meters and 39.34 g/t AuEq or 1.26 oz/t AuEq (38.67 g/t Au and 54.72 g/t Ag) over 2 meters.
- Bonanza Zone 2: 13.90 g/t AuEq (13.85 g/t Au and 3.59 g/t Ag) over 7.60 meters including 33.80 g/t AuEq or 1.09 oz/t AuEq (33.70 g/t Au and 8.21 g/t Ag) over 3.10 meters.
- Bonanza Zone 3: 3.15 g/t AuEq (3.08 g/t Au and 5.65g/t Au) over 3.20 meters
  - An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ef798403-710f-4fa1-a063-8e2c478a4fef
GD-24-273 collared from Haymaker Pad in the most eastern part of the Bonanza High-Grade Zone intercepted two separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both zones remain open.
- Surebet Zone: 5.97 g/t AuEq (5.46 g/t Au and 41.43 g/t Ag) over 5.15 meters including 8.77 g/t AuEq (8.06 g/t Au and 57.41 g/t Ag) over 3.45 meters.
- Bonanza Zone: 4.85 g/t AuEq (4.64 g/t Au and 17.26 g/t Ag) over 8.90 meters including 6.66 g/t AuEq (6.38 g/t Au and 23.23 g/t Ag) over 5.90 meters and 32.65 g/t Au or 1.0 oz/t AuEq (31.39 g/t Au and 102.45 g/t Ag) over 1.05 meters.
  - An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df0407ee-e1a5-4865-b232-b342dae7b914
GD-24-272 collared from Postman Pad in the most northern part of the Bonanza High-Grade Zone intercepted two separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both zones remain open.
- Surebet Zone: 4.70 g/t AuEq (1.53 g/t Au and 258.15 g/t Ag) over 4.00 meters including 6.20 g/t AuEq (2.02 g/t Au and 340.88 g/t Ag) over 3.00 meters.
- Bonanza Zone: 2.22 g/t AuEq (0.8 g/t Au and 116.46 g/t Ag) over 8.00 meters including 5.64 g/t AuEq (2.03 g/t Au and 294.14 g/t Ag) over 3.00 meters.
  - An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81f0cd8a-e571-493c-9ef8-a83bfebd271d

With only 3 months of drilling in 2024 and the strong gold mineralization observed in multiple drill holes the size of the known Bonanza High-Grade Gold Zone has been nearly doubled from an area 180,000 m2 (720 x 612 x 410 meters) to 341,000 m2 (835 x 685 x 612 x 410 meters) that remains wide open.
- An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c9dcce20-422e-4b5c-977d-6968f9123d12

All 64 holes drilled in 2024 have intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing visible gold, demonstrating the excellent continuity and predictability of this extensive high-grade gold system that remains wide open.
Additional drill hole highlights from the newly expanded Bonanza High-Grade Gold Zone include drill holes GD-23-242, GD-24-252 and GD-24-275, all of which contain significant amounts of visible gold as well as considerable amounts of galena, sphalerite and chalcopyrite mineralization hosted in large intervals of quartz breccia and veining.
- Drill hole GD-24-242 intercepted over 10.86 meters in the Bonanza High-Grade Gold Zone consisting of visible gold, semi-massive sphalerite, and pyrrhotite, with minor galena hosted in a quartz-sulphide breccia (assays pending).
- Drill hole GD-24-252 intercepted over 15.15 meters in the Bonanza High-Grade Gold Zone containing brecciated intervals of semi-massive to massive pyrrhotite, sphalerite, galena and chalcopyrite. Visible gold has been observed in several sections of quartz-sulphide vein throughout the interval (assays pending).
- Drill hole GD-24-275 intercepted over 11.00 meters in the Bonanza High-Grade Gold Zone consisting of visible gold as well as brecciated sections of semi-massive sphalerite, galena and pyrrhotite that looks similar to GD-23-197 which assayed 34.03 g.t AuEq (1.09 oz/t AuEq) over 9 meters (assays pending).
Drilling in 2024 at the Surebet Discovery, saw 100% of the holes (64 holes drilled) intersected one or more significant sulphide mineralized zones, 92% of the holes (59 out of 64 holes) intersected widespread visible gold confirming the excellent continuity and predictability of the high-grade gold mineralized system.
An impressive trend of visible gold distribution has been observed in the stacked zones in the sediments, at the contact of the sediments and volcanics, as well as in the volcanics. High in the system the visible gold is sporadic and fine-grained, then there is a transition to fine-grained abundant visible gold and coarse-grained visible gold as drilling has gone deeper into the gold mineralizing system. Visible gold is within all the rock packages, including the intrusion related zones.

TORONTO, Jan. 07, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report additional drill results for 5 drill holes from its successful 2024 field season at its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. Excellent results from drill holes from GD-24-262, GD-24-272 and GD-24-273 clearly confirm the increase of mineralization within the Bonanza High-Grade Gold Zone from 180,000 m2 (720 x 612 x 410 meters) to 341,000 m2 (835 x 685 x 612 x 410 meters) that remains open. Assays are still pending for a total of 96 out of 105 drill holes that are expected to be released in the immediate future once received, compiled and interpreted.

Roger Rosmus, Founder and CEO of Goliath Resources, states: “Results so far from the 2024 drill campaign all show excellent high-grade gold mineralization as well as phenomenal continuity within the Bonanza High-Grade Zone as well as the Surebet Zone. We are impressed with the transition to abundant visible gold that also includes coarse-grained visible gold as we drill deeper into the system. In addition, we are excited that as the stacked veins in the Surebet Zone and the Bonanza High-Grade Zone dip in opposite directions, it opens up the possibility for two separate sources more than 2000 meters apart, or one large source under the various zones. We are delighted to see that each season of drilling the project is getting better and better, for example in 2023 we observed visible gold in 32% of the holes and in 2024 that increased to 92%. During my career in exploration, it is unusual to see a discovery improve with each additional drill program which usually only happens in projects that become mines. We feel that the Surebet discovery keeps delivering and it is clearly shaping up to be potentially the next large, valuable, and viable mineral deposit of the future in the Golden Triangle. We are very eager and excited to release additional results as they become available in the immediate future.”

Bonanza High Grade Gold Zone

During the 3 months drill season in 2024, the area of high-grade gold mineralization within the known Bonanza Zone (formerly described as the Bonanza High-Grade Gold Triangle) has been expanded and nearly doubled from a triangular area measuring 720 m by 612 m by 410 m to a rectangular area measuring 835 m by 685 m by 612 m by 410 m that remains open. All 64 holes drilled in 2024 within this newly defined high-grade gold area have intercepted significant mineralization with 92 % of the holes (or 59 out of 64 holes) containing occurrences of visible gold, demonstrating the excellent continuity of this extensive high-grade gold system that remains wide open in all directions.

GD-24-262 collared from Goldsmith Pad intercepted four separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both remain wide open.
- Surebet Zone: 32.67 g/t AuEq or 1.05 oz/t AuEq (32.56 g/t Au and 8.92 g/t Ag) over 4.00 meters including 130.14 g/t Au or 4.18 oz/t AuEq (129.77 g/t Au and 30.25 g/t Ag) over 1.00 meter.
- Bonanza Zone 1: 13.34 g/t AuEq (13.11 g/t Au and 18.97 g/t Ag) over 6.00 meters including 15.99 g/t AuEq (15.71 g/t Au and 22.71 g/t Ag) over 5.00 meters and 39.34 g/t AuEq or 1.26 oz/t AuEq (38.67 g/t Au and 54.72 g/t Ag) over 2 meters.
- Bonanza Zone 2: 13.90 g/t AuEq (13.85 g/t Au and 3.59 g/t Ag) over 7.60 meters including 33.80 g/t AuEq or 1.09 oz/t AuEq (33.70 g/t Au and 8.21 g/t Ag) over 3.10 meters.
- Bonanza Zone 3: 3.15 g/t AuEq (3.08 g/t Au and 5.65g/t Au) over 3.20 meters.

GD-24-273 collared from Haymaker Pad in the most eastern part of the Bonanza High-Grade Zone intercepted two separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both zones remain wide open.
- Surebet Zone: 5.97 g/t AuEq (5.46 g/t Au and 41.43 g/t Ag) over 5.15 meters including 8.77 g/t AuEq (8.06 g/t Au and 57.41 g/t Ag) over 3.45 meters.
- Bonanza Zone: 4.85 g/t AuEq (4.64 g/t Au and 17.26 g/t Ag) over 8.90 meters including 6.66 g/t AuEq (6.38 g/t Au and 23.23 g/t Ag) over 5.90 meters and 32.65 g/t Au or 1.0 oz/t AuEq (31.39 g/t Au and 102.45 g/t Ag) over 1.05 meters.

GD-24-272 collared from Postman Pad in the most northern part of the Bonanza High-Grade Zone intercepted two separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both zones remain wide open.
- Surebet Zone: 4.70 g/t AuEq (1.53 g/t Au and 258.15 g/t Ag) over 4.00 meters including 6.20 g/t AuEq (2.02 g/t Au and 340.88 g/t Ag) over 3.00 meters.
- Bonanza Zone: 2.22 g/t AuEq (0.8 g/t Au and 116.46 g/t Ag) over 8.00 meters including 5.64 g/t AuEq (2.03 g/t Au and 294.14 g/t Ag) over 3.00 meters.

Table 1: Highlights for drill holes reported in this news release

Hole ID		From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)	AuEq (g/t)
GD-24-262	Interval	217.00	221.00	4.00	32.56	8.92	0.01	0.04	0.52	32.67
	Including	219.00	220.00	1.00	129.77	30.25	0.01	0.11	2.00	130.14
	Interval	369.00	375.00	6.00	13.11	18.97	0.07	0.43	0.58	13.34
	Including	369.00	374.00	5.00	15.71	22.71	0.08	0.51	0.70	15.99
	Including	371.00	373.00	2.00	38.67	54.72	0.20	1.27	1.70	39.34
	Interval	446.90	454.50	7.60	13.85	3.59	0.01	0.03	0.18	13.90
	Including	447.75	453.60	5.85	17.97	4.47	0.01	0.03	0.23	18.02
	Including	449.50	452.60	3.10	33.70	8.21	0.01	0.06	0.42	33.80
	Interval	480.60	483.80	3.20	3.08	5.65	0.01	0.07	0.47	3.15
GD-24-273	Interval	307.00	312.15	5.15	5.46	41.43	0.02	1.29	1.39	5.97
	Including	307.00	310.45	3.45	8.06	57.41	0.02	1.82	1.97	8.77
	Interval	533.00	541.90	8.90	4.64	17.26	0.06	0.54	0.95	4.85
	Including	536.00	541.90	5.90	6.38	23.23	0.09	0.82	1.27	6.66
	Including	540.85	541.90	1.05	31.39	102.45	0.38	4.41	5.98	32.65
GD-24-272	Interval	47.00	51.00	4.00	1.53	258.15	0.02	0.24	0.28	4.70
	Including	48.00	51.00	3.00	2.02	340.88	0.03	0.32	0.35	6.20
	Interval	750.00	758.00	8.00	0.80	116.46	0.01	0.32	1.11	2.22
	Including	750.00	753.00	3.00	2.03	294.14	0.01	0.58	2.38	5.64
GD-24-255	Interval	10.00	15.05	5.05	4.86	1.99	0.01	0.01	0.09	4.89
	Including	11.00	14.00	3.00	8.18	3.09	0.01	0.02	0.14	8.22
	Interval	394.00	398.00	4.00	4.44	1.10	0.01	0.00	0.02	4.46
	Including	394.00	395.00	1.00	15.34	1.37	0.01	0.00	0.01	15.36
	Interval	416.00	428.61	12.61	2.21	11.77	0.02	0.70	0.74	2.35
	Including	423.78	428.61	4.83	4.90	23.50	0.04	1.75	1.84	5.19
GD-24-244	Interval	296.90	300.00	3.10	4.35	23.25	0.01	0.55	0.14	4.64

The continuity and predictability of this newly expanded thick high-grade gold horizon has previously been drill tested where GD-23-197 assayed 34.03 g/t AuEq (1.09 oz/t AuEq) over 9 meters (released October 17, 2023), GD-24-235 assayed 35.04 g/t AuEq (1.13 oz/t AuEq) over 5.25 meters (released July 30, 2024) and GD-24-249 assayed 30.55 g/t AuEq (0.98 oz/t AuEq) over 8.95 meters (released December 12, 2024). The new Bonanza High-Grade Zone is located at the structural intersection of the Surebet Zone with the Bonanza Zone and outcrops on the surface 200 meters above the valley floor at an elevation of 900 meters above sea level.

Additional drill hole highlights from the newly expanded Bonanza High-Grade Gold Zone include drill holes GD-23-242, GD-24-252 and GD-24-275, all of which contain significant amounts of visible gold as well as considerable amounts of galena, sphalerite and chalcopyrite mineralization hosted in large intervals of quartz breccia and veining.

Drill hole GD-24-242 intercepted over 10.86 meters in the Bonanza High-Grade Gold Zone between consisting of visible gold, semi-massive sphalerite, and pyrrhotite, with minor galena hosted in a quartz-sulphide breccia (assays pending).
Drill hole GD-24-252 intercepted over 15.15 meters in the Bonanza High-Grade Gold Zone containing brecciated intervals of semi-massive to massive pyrrhotite, sphalerite, galena and chalcopyrite. Visible gold has been observed in several sections of quartz-sulphide vein throughout the interval (assays pending).
Drill hole GD-24-275 intercepted over 11.00 meters in the Bonanza High-Grade Gold Zone consisting of visible gold as well as brecciated sections of semi-massive sphalerite, galena and pyrrhotite that looks similar to GD-23-197 which assayed 34.03 g.t AuEq (1.09 oz/t AuEq) over 9 meters (assays pending).

The Bonanza High Grade Gold Zone remains open in all directions, including to depth, where the new Deep Zone was discovered at 1239 m below surface and only 480 meters above the valley floor. This zone contains multiple quartz-sulphide veins and breccias with chalcopyrite, galena and sphalerite demonstrating the tremendous additional untapped discovery potential of the Surebet system that remains wide open. The deepest downhole mineralized interval intercepted to date comes from a depth of 890 meters downhole (1.239 kilometers below the surface) and consists of a 1.75-meter interval from 890.90 – 892.65 meters with quartz veins containing significant amounts of chalcopyrite, galena and sphalerite and remains wide open. Assays for all holes that intersected the new Deep Zone are pending.

The Company looks forward to continuing to expand the mineralization at Surebet and increase the understanding of the geometry and controls of the mineralization with additional modelling as results become available in the immediate future. The discovery of the RIRG mineralization (released December 12, 2024) clearly indicates proximity to the source of this extensive mineralizing system. Drilling in 2025 will focus on expanding the mineralization in all directions, including to depth towards the potential source for the fluids responsible for the extensive high-grade gold-silver mineralization on the Surebet discovery.

Table 2: Collar information for drill holes reported in this news release

Hole ID	CRS	Easting (m)	Northing (m)	Elevation (m)	Azimuth (deg)	Dip (deg)	Length (m)
GD-24-242	NAD83 / UTM zone 9N	457447	6162776	1512	120	63	862
GD-24-255	NAD83 / UTM zone 9N	457367	6162756	1506	178	72	497
GD-24-262	NAD83 / UTM zone 9N	457258	6162713	1475	140	75	702
GD-24-272	NAD83 / UTM zone 9N	457580	6163351	1714	165	75	899
GD-24-273	NAD83 / UTM zone 9N	457060	6163027	1655	135	75	582

Golddigger Property

The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in the world class geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area has hosted some of Canada’s greatest mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

The Surebet discovery has exceptional continuity and excellent metallurgy with gold recoveries of 92.2% with 48.8% of it as free gold from gravity alone at a 327-micrometer crush (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present such as mercury or arsenic.

The Property is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the west coast and houses an international container seaport also with direct access to railway and an airport.

About CASERM (Center To Advance The Science Of Exploration To Reclamation In Mining)

Goliath is a paying member and active supporter of CASERM, an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech aimed at transforming the way that geoscience data is used in the mineral resource industry. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. As a CASERM member, the Company requested a study and written report to be performed by Colorado School of Mines analysing Surebet’s origin of mineralization. The study confirmed an extensive porphyry feeder source at depth for the high-grade gold mineralising fluids at Surebet.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is also a director of the Company.

About Goliath Resources LimitedGoliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott.

For more information please contact:

Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

Other

The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.

Portable XRF (X-Ray Fluorescence) readings are semi-quantitative measurements and calibrations of the equipment in the field not always allow to compare results to certified reference materials but are used as guideline to augment the understanding of the mineralization observed. These measurements are not intended to be representative of the geochemical composition of the material measured. XRF readings are carried out using a handheld device and could be influenced by external factors.

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit™. Drill holes were planned using Leapfrog Geo™ and QGIS™ software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.

Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.

All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the Paragon Geochemical labs facilities in Surrey, BC or ALS labs facilities in North Vancouver, BC. Paragon Geochemical is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. Samples submitted to Paragon received gold and silver analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The entire crushed sample is riffle split and weighed into multiple (300-500g) jars that are submitted for photon assay. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, causing them to emit secondary gamma rays, which are measured to identify and quantify the metals present. The assays from all jars are combined on a weight-averaged basis. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: Au 2398.13 USD/oz, Ag 28.118 USD/oz, Cu 4.10 USD/lbs, Pb 2067.5 USD/ton and Zn 2669 USD/ton on July 28th, 2024. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

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

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

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

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

As we step into 2025, the Canadian market is buoyed by a supportive economic backdrop, with the TSX having gained 18% in 2024 and broader markets experiencing robust growth across various sectors and market caps. In this environment of healthy economic growth and rising corporate profits, identifying undiscovered gems becomes crucial for investors seeking to capitalize on potential opportunities within Canada’s diverse landscape.

Top 10 Undiscovered Gems With Strong Fundamentals In Canada

Name	Debt To Equity	Revenue Growth	Earnings Growth	Health Rating
TWC Enterprises	6.24%	12.63%	23.89%	★★★★★★
Reconnaissance Energy Africa	NA	9.16%	15.11%	★★★★★★
Lithium Chile	NA	nan	42.01%	★★★★★★
Amerigo Resources	14.04%	7.04%	11.73%	★★★★★☆
Maxim Power	25.01%	12.79%	17.14%	★★★★★☆
Mako Mining	10.21%	38.44%	58.78%	★★★★★☆
Grown Rogue International	24.92%	19.37%	188.55%	★★★★★☆
Corby Spirit and Wine	65.79%	7.46%	-5.76%	★★★★☆☆
Petrus Resources	19.44%	17.20%	46.03%	★★★★☆☆
DIRTT Environmental Solutions	58.73%	-5.34%	-5.43%	★★★★☆☆

Click here to see the full list of 47 stocks from our TSX Undiscovered Gems With Strong Fundamentals screener.

We’ll examine a selection from our screener results.

Hammond Power Solutions

Simply Wall St Value Rating: ★★★★★★

Overview: Hammond Power Solutions Inc. designs, manufactures, and sells transformers across Canada, the United States, Mexico, and India with a market cap of CA$1.49 billion.

Operations: Hammond Power Solutions generates revenue primarily from the manufacture and sale of transformers, amounting to CA$766.82 million. The company’s financial performance is highlighted by its gross profit margin, which reflects its profitability in managing production costs relative to sales.

HPS.A, a notable player in the electrical industry, has shown impressive financial health with its debt to equity ratio dropping from 27.3% to 6% over five years. Its earnings growth of 9.9% surpasses the industry’s 5.1%, indicating robust performance and potential for future growth at an estimated rate of 11.48% annually. The company trades at a significant discount of about 35.7% below its fair value estimate, suggesting room for appreciation in value terms while maintaining strong interest coverage with EBIT covering interest payments by an impressive factor of 80x.

TSX:HPS.A Debt to Equity as at Jan 2025MAG Silver

Simply Wall St Value Rating: ★★★★★★

Overview: MAG Silver Corp. is engaged in the development and exploration of precious metal properties in Canada, with a market capitalization of CA$2.10 billion.

Operations: MAG Silver Corp. does not currently report revenue segments, indicating its primary focus is on exploration and development activities within the precious metals sector in Canada.

MAG Silver, a nimble player in the mining sector, has seen impressive earnings growth of 131.8% over the past year, outpacing the industry’s 36.4%. Despite generating less than US$1 million in revenue, its high level of non-cash earnings suggests robust underlying operations. The company remains debt-free for five years, ensuring no interest payment concerns and highlighting prudent financial management. Recent results show net income for Q3 2024 at US$22.29 million compared to US$8.86 million last year, with basic earnings per share rising to US$0.22 from US$0.09 a year ago—indicating strong profitability momentum moving forward.

TSX:MAG Earnings and Revenue Growth as at Jan 2025Alphamin Resources

Simply Wall St Value Rating: ★★★★★★

Overview: Alphamin Resources Corp., along with its subsidiaries, focuses on the production and sale of tin concentrates, with a market capitalization of CA$1.47 billion.

Operations: Alphamin generates revenue primarily through the production and sale of tin from its Bisie Tin Mine, amounting to $436.73 million. The company’s financial performance can be assessed by examining its net profit margin, which provides insight into profitability after accounting for all expenses.

Alphamin Resources, a nimble player in the mining sector, has demonstrated robust financial health over recent years. Its debt to equity ratio impressively dropped from 56.8% to 17.3%, reflecting prudent financial management. Earnings have surged at an annual rate of 39.2%, showcasing strong growth potential, although slightly trailing the industry pace of 36.4%. The company’s interest payments are comfortably covered by EBIT at a ratio of 17.9x, indicating solid operational efficiency and high-quality earnings. Recent results highlight significant sales growth to US$174 million for Q3 and net income doubling year-over-year to US$32 million, underscoring its upward trajectory in profitability and market presence.

TSXV:AFM Debt to Equity as at Jan 2025Taking Advantage

Click here to access our complete index of 47 TSX Undiscovered Gems With Strong Fundamentals.
Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools.
Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor.

Curious About Other Options?

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Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include TSX:HPS.A TSX:MAG and TSXV:AFM.

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

VANCOUVER. BC, Jan. 6, 2025 /CNW/ – Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) ("Filo" or the "Company") is pleased to announce that the deadline for registered shareholders (the "Registered Shareholders") of the issued and outstanding common shares of Filo (the "Filo Shares") and for holders of stock options of Filo (the "Optionholders") to make elections in respect of the consideration receivable pursuant to the Arrangement (as defined below) is 5:00 P.M. (Toronto Time) on January 9, 2025 (the "Election Deadline"). PDF Version

The letter of transmittal and election form (the "Letter of Transmittal") outlines the necessary documentation and information required to be sent to the depositary for the Arrangement, Computershare Investor Services Inc. (the "Depositary"), by each Registered Shareholder and Optionholder in order to receive the consideration to which they are entitled under the Arrangement, and make an election with respect to the form of consideration they wish to receive. For complete instructions, please refer to the Letter of Transmittal previously mailed to Registered Shareholders and Optionholders on December 12, 2024 and also available under Filo's profile on SEDAR+ at www.sedarplus.ca and on the Company's corporate website at http://filocorp.com/investors/corporate-filings/.

All elections and deposits made under a Letter of Transmittal are irrevocable and may not be withdrawn. However, an election made under a Letter of Transmittal on or prior to the Election Deadline may be changed by depositing a new Letter of Transmittal with the Depositary on or prior to the Election Deadline. Should the Arrangement not proceed for any reason, the deposited certificates and/or DRS advices representing Filo Shares (if applicable) and other relevant documents shall be returned.

The Letter of Transmittal is for use by Registered Shareholders and Optionholders only. Beneficial (nonregistered) shareholders whose Filo Shares are registered in the name of a broker, investment bank, bank, trust company, custodian, nominee or other intermediary (each, an "Intermediary") should contact that Intermediary for instructions and assistance in making an election.

Shareholders who hold Filo Shares directly or indirectly through the central securities depository in Sweden run by Euroclear Sweden AB ("Euroclear Holders") do not need to submit a Letter of Transmittal. For complete instructions for Euroclear Holders, please refer to the press release of the Company dated December 11, 2024.

Filo is also pleased to announce that it has obtained all key regulatory approvals required to complete the previously announced arrangement involving, among others, the Company, BHP Investments Canada Inc. ("BHP"), a wholly-owned subsidiary of BHP Group Limited, and Lundin Mining Corporation (TSX: LUN) (OMX: LUMI) ("Lundin Mining", and together with BHP, the "Purchaser Parties"), pursuant to which the Purchaser Parties will, among other things, acquire all of the Filo Shares not already owned by the Purchaser Parties and their respective affiliates (the "Arrangement").

Subject to the satisfaction or waiver of the remaining conditions to implementing the Arrangement, it is expected that the Arrangement will close on or about January 15, 2025.

Following completion of the Arrangement, the Filo Shares will be delisted from the Toronto Stock Exchange and the Nasdaq First North Growth Market. An application will also be made for the Company to cease to be a reporting issuer in the applicable jurisdictions following completion of the Arrangement.

About Filo Corp.

Filo is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile. The Company's shares are listed on the Toronto Stock Exchange and Nasdaq First North Growth Market under the trading symbol "FIL", and on the OTCQX under the symbol "FLMMF".

Additional Information

The Company's certified adviser on the Nasdaq First North Growth Market is Bergs Securities AB, +46 8 506 51703, rutger.ahlerup@bergssecurities.se.

The information contained in this news release was accurate at the time of dissemination, but may be superseded by subsequent news release(s).

The information was submitted for publication by the contact persons below on January 6, 2025 at 1:00 am EST.

Twitter: https://twitter.com/filo_corpLinkedIn: https://www.linkedin.com/company/filocorp/Instagram: https://www.instagram.com/filo_corp/Facebook: https://www.facebook.com/FiloCorpOfficial

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This press release may contain certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, the consummation and timing of the Arrangement; the satisfaction of the conditions precedent to the Arrangement; the expected timing of closing of the Arrangement; and the expected timing of delisting from stock exchanges, may be forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved.

Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Company's expectations include failure to satisfy or waive the closing conditions to the Arrangement; changes in laws, regulations and government practices; government regulation of mining operations; environmental risks; and other risks and uncertainties disclosed in the Company's periodic filings with Canadian securities regulators and in other Company reports and documents filed with applicable securities regulatory authorities from time to time, including the Company's Annual Information Form available under the Company's profile at www.sedarplus.ca. The Company's forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.

Filo Sets Election Deadline and Announces Anticipated Closing Date in Connection with the Acquisition by BHP and Lundin Mining (CNW Group/Filo Corp.)

SOURCE Filo Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/06/c6976.html

Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company") is pleased to announce that is has closed the second and final tranche on Friday, January 3, 2025, of the non-brokered private placement previously announced on November 21, 2024, December 16, 2024 and December 31, 2024 (the "Offering"), through the issuance of 1,619,231 non-flow-through units (the "NFT Units") at a purchase price of $0.13 per NFT Unit (the "NFT Offering Price") and 465,000 flow-through shares ("FT Shares") at a purchase price of $0.16 per FT Share (the "FT Offering Price"), for total aggregate proceeds of $284,900 (the "Second Tranche"). All dollar amounts in this news release are in Canadian funds.

The Company raised aggregate gross proceeds of $1,000,400, from the first tranche closed on December 16, 2024, and the Second Tranche, through the sale of:

6,276,923 NFT Units for gross proceeds of $816,000; and
1,152,500 FT Shares for gross proceeds of $184,400.

Each NFT Unit will consist of one non-flow-through common share of the Company and one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company for an exercise price of $0.18 per share for a period of 36 months from its date of issuance.

Each FT Share will consist of one flow-through common share of the Company.

The Company will use the proceeds of the sale of FT Shares in the Offering to fund programs to advance one or more of the Company's properties located in the Yukon, Northwest Territories, and Nunavut that will qualify, once renounced, as "flow-through mining expenditures", as that term is defined in the Income Tax Act (Canada). The Company intends to use the net proceeds of the sale of the NFT Units to fund programs to advance one or more of the Company's properties and for general and administrative purposes.

In connection with the Second Tranche, the Company paid aggregate cash finder's fees of $5,514 and issued 27,900 non-transferable finder's warrants to certain arm's length finders.

In total of the first and Second Tranche of the Offering, the Company paid an aggregate total of $12,764 and issued 79,775 non-transferrable finder warrants ("Finder Warrants") in satisfaction of finder's fees on the Offering. The Finder Warrants entitle the holders thereof to purchase one common share (a "Warrant Share") of the Company at a price of C$0.18 per share for a period of thirty-six (36) months from its date of issuance.

The securities issued in connection with the Offering will be subject to a four-month and a day hold period. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

Insider Participation

Dorian L. (Dusty) Nicol, Chief Executive Officer and Director of the Company and Chad Williams, Non-Executive Chairman and Director of the Company, participated in the Second Tranche of the Offering with Mr. Nicol subscribing for 384,615 NFT Units, and Mr. Williams subscribing for 600,000 NFT Units which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of Messer's Nicol and Williams in the Offering in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Offering, with Messer's Nicol and Williams declaring and abstaining from voting on the resolutions approving the Offering with respect to their participation in the Offering. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

Mr. Williams' aggregate participation in the Offering is 2,907,692 NFT Units. Mr. Nicol's aggregate participation in the Offering is 384,615 NFT Units.

Mr. Williams is anticipated to become a new Control Person of the Company as a result of his participation in the Offering. The Company will be seeking disinterested shareholder approval for the creation of a new Control Person, at the Annual General and Special Meeting of shareholders to be held on February 14, 2025.

Caution to US Investors

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

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (2,3). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

(1) Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

(2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

(3) Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for Investor Relations | spekar@honeybadgersilver.com | +1 (647) 498-8244.

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.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, risks relating to the anticipated completion of the Offering, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Honey Badger Silver Inc.

Forsys Metals Corp

TORONTO, Jan. 06, 2025 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that its wholly-owned subsidiary Valencia Uranium (Pty) (“Valencia Uranium”) has finalised an agreement with Namibplaas Guestfarm and Tours (Proprietory) Limited (the “Farm Owner”) for the purchase of Portion-1 of farm Namibplaas No. 93 (the “Property”), at the Company’s Norasa Uranium project (“Norasa1”).

The Property hosts the Namibplaas uranium deposit (“Namibplaas”), under Exclusive Prospecting Licence (EPL-3638) The purchase of this Property is the final outcome of lengthy negotiations for the economic terms for access rights with the previous farm owner.

EPL-3638 covers a total surface area of 1,266 ha; with approximately 93 % (1,179 ha) located on the Property, which measures approximately 6,700 hectares (ha). Figure-1 (below) provides an overview of the Property, the Company’s mineral licence holding and applications, exclusive use area and planned and existing linear infrastructure.

EPL-3638 is situated less than 3 km to the northeast of the Valencia deposit (ML-149) and is accessed via a newly constructed industrial grade road from the B2 highway to the Valencia project site followed by a track suitable for 4×4 vehicles.

For detailed information on the recent updated Mineral Resource Estimate for Norasa, please refer to the Company’s news release dated 14 May 2024. Planning is underway for diamond and reverse circulation drilling designed to expand and upgrade the resource within the Namibplaas main deposit and from adjacent targets.

The Company has also applied for additional exclusive prospecting ground, EPL-10501 and EPL-8633. Approximately 237 ha, (42 %) of the EPL-10501 application area and 239 ha,(5%) of EPL- 9865 are are also located on the Property. For further detail, see Figure-1 below.

_______________________________________________

1 The Norasa Uranium Project (“Norasa“) is wholly owned by the Company’s 100% subsidiary Valencia Uranium (Pty) Ltd. (“Valencia Uranium”) and comprises the Valencia uranium deposits (held under ML-149) ("Valencia”) and the Namibplaas uranium deposit (under EPL-3638) (“Namibplaas”), located in the Erongo region of Namibia.

On farm Valencia No.122, ML-149, the company’s interest including its planned access works area for the mine’s infrastructure, are covered by an exclusive use contract over approximately 3,346 ha. The contract with this land owner is valid for the duration of ML-149, which extends until 2033.

Figure-1: Overview map showing the transaction property, Valencia mineral licence holdings and applications and linear infrastructure

Key Terms of the Land Purchase Agreement

Under the terms of the agreement Valencia Uranium will pay the Farm Owner an aggregate amount of 24 million Namibia Dollars (NAD) (approximately US$1,282k). An initial payment of NAD 7 million (approximately US$374k) will be made once all conditions have been met, with the remaining NAD 17 million (approximately US$908k) payable in monthly installments over a ten year period, accruing interest at Namibia’s prime lending rate 2 plus 2% per annum from the date of title transfer following regulatory approval. The signing of the agreement was 17th December 2024.

The transaction remains subject to the receipt of all regulatory approvals, including, without limitation, the approval of the Ministry of Agriculture and the Ministry of Lands and Resettlement.

Mark Frewin, Forsys’ CEO commented: “The acquisition of farm Namibplaas, Portion-1 means that the Company now has unfettered access to the Namibplaas licence area, adding significant value and flexibility to our mine development strategy. The plan is to prioritize a drill program on Namibplaas as soon as possible and continue to expand and upgrade the total uranium resources to support the overall Norasa mine development.”

2 10.75% per Bank of Namibia______________________________________________________________________________________________________

About Forsys Metals Corp.Forsys Metals Corp. (TSX: FSY, FSE: F2T, NSX: FSY) is an emerging uranium developer focused on advancing its wholly owned Norasa Uranium Project, located in the politically and uranium friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638). Further information is available at the Company website www.forsysmetals.com.

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Investor Relations. For additional information please contact:

Richard Parkhouse, Investor Relationsemail: rparkhouse@forsysmetals.com email: info@forsysmetals.com

Forward Looking Statement

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements 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", "be achieved" or "has the potential to". Forward looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbe5c51e-66f7-4089-8b48-a122ccaf1f04

President-elect Trump denied a report that his tariffs may focus on strategic industries. But the S&P 500, Nucor, FCX, Enphase and Ford rose.

As the U.S. stock market begins 2025 on a challenging note, with major indices extending recent declines, investors are increasingly seeking stability and income through dividend stocks. In a market environment marked by volatility and uncertainty, selecting dividend-paying stocks can provide a reliable source of income while potentially enhancing portfolio resilience.

Top 10 Dividend Stocks In The United States

Name	Dividend Yield	Dividend Rating
WesBanco (NasdaqGS:WSBC)	4.64%	★★★★★★
Columbia Banking System (NasdaqGS:COLB)	5.36%	★★★★★★
Peoples Bancorp (NasdaqGS:PEBO)	5.12%	★★★★★★
Interpublic Group of Companies (NYSE:IPG)	4.69%	★★★★★★
Southside Bancshares (NYSE:SBSI)	4.71%	★★★★★★
Dillard’s (NYSE:DDS)	5.77%	★★★★★★
First Interstate BancSystem (NasdaqGS:FIBK)	5.88%	★★★★★★
Ennis (NYSE:EBF)	4.77%	★★★★★★
Citizens & Northern (NasdaqCM:CZNC)	6.13%	★★★★★★
Premier Financial (NasdaqGS:PFC)	4.93%	★★★★★★

Click here to see the full list of 162 stocks from our Top US Dividend Stocks screener.

Let’s take a closer look at a couple of our picks from the screened companies.

EOG Resources

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: EOG Resources, Inc. is involved in the exploration, development, production, and marketing of crude oil, natural gas liquids, and natural gas primarily in the United States and Trinidad and Tobago with a market cap of $68.95 billion.

Operations: EOG Resources generates revenue of $23.86 billion from its crude oil and natural gas exploration and production activities.

Dividend Yield: 3.1%

EOG Resources trades at a significant discount to its estimated fair value, offering potential value for investors. Its dividend yield of 3.13% is lower than the top 25% of US dividend payers, but its payout ratio of 29.2% suggests dividends are well-covered by earnings and cash flows (36.8%). However, EOG’s dividend history is volatile and unreliable over the past decade. Recent financial activities include a $994 million fixed-income offering and share buybacks totaling $3.21 billion since 2021.

NYSE:EOG Dividend History as at Jan 2025Bank of N.T. Butterfield & Son

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: The Bank of N.T. Butterfield & Son Limited offers community, commercial, and private banking services to individuals and small to medium-sized businesses, with a market cap of approximately $1.61 billion.

Operations: The Bank of N.T. Butterfield & Son Limited generates its revenue primarily from its banking segment, which amounts to $573.10 million.

Dividend Yield: 4.8%

Bank of N.T. Butterfield & Son offers a compelling dividend yield of 4.84%, placing it in the top 25% of US dividend payers, supported by a low payout ratio of 38.5%. Despite having only an eight-year history, dividends have been stable and reliable. Recent strategic moves include a $100 million share buyback program and plans for acquisitions, indicating robust capital management while maintaining focus on shareholder returns through consistent quarterly dividends.

NYSE:NTB Dividend History as at Jan 2025Southern Copper

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Southern Copper Corporation is involved in the mining, exploration, smelting, and refining of copper and other minerals across Peru, Mexico, Argentina, Ecuador, and Chile with a market cap of $72.03 billion.

Operations: Southern Copper Corporation generates revenue primarily from its Mexican Open-Pit operations ($5.97 billion), Peruvian Operations ($4.47 billion), and the Mexican Industrial Minera Mexico and Subsidiaries (IMMSA) Unit ($673 million).

Dividend Yield: 3%

Southern Copper’s dividend payments are covered by earnings with a payout ratio of 61.4% and cash flows at 86.1%, though the yield of 3.02% is below top-tier US payers. Despite past volatility, dividends have grown over the last decade, highlighted by a recent increase to $0.70 per share in October 2024. The company reported strong Q3 results with net income rising to US$896.7 million, reflecting robust operational performance amid board changes and no recent buyback activity.

NYSE:SCCO Dividend History as at Jan 2025Summing It All Up

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Companies discussed in this article include NYSE:EOG NYSE:NTB and NYSE:SCCO.

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The Canadian market has been experiencing shifts in bond yields, which have implications for future investment strategies, particularly with the potential for bonds to outperform cash as interest rates fluctuate. In this context, penny stocks—though somewhat of an outdated term—remain a relevant area of interest for investors seeking growth opportunities at lower price points. These smaller or newer companies can offer a unique blend of value and growth potential when backed by strong financials, making them attractive options for those looking to explore under-the-radar investments.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Pulse Seismic (TSX:PSD)	CA$2.39	CA$116.93M	★★★★★★
Silvercorp Metals (TSX:SVM)	CA$4.32	CA$913.76M	★★★★★★
Mandalay Resources (TSX:MND)	CA$3.94	CA$368.12M	★★★★★★
Findev (TSXV:FDI)	CA$0.53	CA$12.75M	★★★★★★
PetroTal (TSX:TAL)	CA$0.54	CA$501.61M	★★★★★★
Foraco International (TSX:FAR)	CA$2.41	CA$231.32M	★★★★★☆
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★
NamSys (TSXV:CTZ)	CA$1.15	CA$33.85M	★★★★★★
Hemisphere Energy (TSXV:HME)	CA$1.83	CA$179.46M	★★★★★☆
Enterprise Group (TSX:E)	CA$1.89	CA$113.26M	★★★★☆☆

Click here to see the full list of 950 stocks from our TSX Penny Stocks screener.

Let’s dive into some prime choices out of the screener.

Forsys Metals

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Forsys Metals Corp., with a market cap of CA$128.20 million, focuses on the acquisition, exploration, and development of mineral properties in Africa through its subsidiaries.

Operations: Forsys Metals Corp. currently does not report any revenue segments.

Market Cap: CA$128.2M

Forsys Metals Corp., with a market cap of CA$128.20 million, operates as a pre-revenue entity focused on mineral exploration in Africa. The company is debt-free and has no long-term liabilities, but it faces financial challenges with less than a year of cash runway and ongoing shareholder dilution. Recent earnings reports show reduced net losses compared to the previous year, yet profitability remains elusive with forecasts indicating further declines in earnings over the next three years. Despite these hurdles, Forsys benefits from an experienced management team and board of directors, providing some stability amidst its current volatility.

TSX:FSY Financial Position Analysis as at Jan 2025RTG Mining

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: RTG Mining Inc. is involved in the exploration and development of mineral properties, with a market capitalization of CA$33.86 million.

Operations: RTG Mining Inc. currently does not report any revenue segments as it is focused on the exploration and development of mineral properties.

Market Cap: CA$33.86M

RTG Mining Inc., with a market cap of CA$33.86 million, is pre-revenue and focused on mineral exploration. The company is debt-free, which mitigates financial risk, but faces challenges with less than a year of cash runway. Despite its unprofitability, RTG has reduced losses by 25% annually over the past five years and maintains strong short-term asset coverage over liabilities. The board and management team are experienced, providing strategic stability amidst high share price volatility. Shareholders have not faced significant dilution recently, offering some reassurance in this speculative investment space.

TSX:RTG Debt to Equity History and Analysis as at Jan 2025Rock Tech Lithium

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Rock Tech Lithium Inc. is involved in the exploration and development of lithium properties, with a market cap of CA$107.22 million.

Operations: Currently, there are no reported revenue segments for this company.

Market Cap: CA$107.22M

Rock Tech Lithium Inc., with a market cap of CA$107.22 million, is pre-revenue and focused on lithium exploration. The company has no debt and possesses short-term assets of CA$5.3 million, surpassing its liabilities, but only supports a three-month cash runway without additional funding. Recent private placements raised over CA$4.7 million, including government support from Canada’s Critical Minerals Infrastructure Fund, enhancing financial stability temporarily despite ongoing losses and shareholder dilution. Management is relatively inexperienced with an average tenure under one year; however, the board’s seasoned presence provides some strategic oversight in this speculative sector.

TSXV:RCK Financial Position Analysis as at Jan 2025Seize The Opportunity

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Companies discussed in this article include TSX:FSY TSX:RTG and TSXV:RCK.

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Written by Amy Legate-Wolfe at The Motley Fool Canada

OpenText (TSX:OTEX) and Lundin Mining (TSX:LUN) have both taken a bit of a tumble lately. In fact, both stocks are down 33% as of writing from 52-week highs. Yet that doesn’t mean they’ve lost their charm. In fact, if you look closely, these two TSX-listed stocks might be an opportunity long-term investors dream about. So let’s get into it.

OpenText

OpenText, a heavyweight in enterprise information management, has seen its stock slip recently. Despite this pullback, OpenText’s fundamentals remain solid. The dividend stock offers a forward price/earnings (P/E) ratio of just 8.1. Yet it’s now trading at an attractive valuation relative to its earnings potential. Profit margins are holding steady at 8.4%. Plus operating margins of nearly 20% signal the company’s ability to run a tight, efficient operation. Even during uncertain economic times. For those who appreciate consistent dividends, OpenText doesn’t disappoint. Its forward annual dividend yield of 3.5% at writing provides steady passive income.

Digging into its most recent quarterly performance, OpenText’s revenue over the trailing 12 months came in at $5.6 billion. While there was an 11% year-over-year dip in quarterly revenue, earnings growth stood out, rising 4.3% during the same period. This highlights the company’s ability to control costs and deliver value to shareholders even as top-line revenue faces some headwinds.

Add in robust operating cash flow of $842.8 million and levered free cash flow of $928 million, and OpenText’s financial health looks strong enough to weather short-term volatility. The tech sector has had its share of ups and downs. Yet OpenText’s consistent dividend payments and improving earnings outlook suggest the market may be underestimating its potential. For investors with a long-term view, this could be the ideal moment to scoop up shares at a relative discount.

Lundin

Lundin Mining, on the other hand, offers a very different kind of opportunity but one that’s equally compelling. The dividend stock is currently trading at $12.34, down about 1.5% recently. As a diversified base metals producer, Lundin operates in the ever-cyclical mining industry. The company’s market cap sits at $9.7 billion. And with a forward P/E ratio of 12.9, it’s reasonably valued given its growth potential. Lundin’s operating margin of 24% and profit margin of 6.6% demonstrate the company’s ability to operate profitably despite fluctuating commodity prices. Investors looking for income will also appreciate the company’s forward annual dividend yield of 2.9% at writing – a respectable payout that adds stability to an otherwise volatile sector.

Lundin’s recent earnings report for Q3 2024 painted a positive picture. Revenue came in at $1.1 billion, supported by the sale of 90,069 tonnes of copper at a solid realized price of $4.29 per pound. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) hit $457.7 million, while net earnings attributable to shareholders reached $101.2 million, or $0.13 per share. These numbers reflect Lundin’s ability to capitalize on strong copper prices, which remain a major driver for the company’s bottom line. Lundin’s diversified operations, spanning Canada, Sweden, Chile, and Brazil, give it exposure to a variety of markets while reducing its dependency on any single jurisdiction.

What’s particularly exciting about Lundin right now is its strategic realignment. The recent sale of the Neves-Corvo and Zinkgruvan mines for up to $1.5 billion represents a shift toward optimizing its portfolio. By offloading these assets, Lundin will free up capital to focus on core projects and explore new growth opportunities in its pipeline. This kind of strategic maneuvering often signals a company preparing for its next phase of expansion. And investors willing to hold for the long haul may reap the benefits. With total cash on hand at $349.6 million and operating cash flow at $1.2 billion, Lundin also has the liquidity needed to execute its plans without overstretching its balance sheet.

Bottom line

Both OpenText and Lundin Mining stand out as solid dividend stocks for investors looking for value in a market where many stocks remain fully priced. While recent price dips might cause short-term concern, for those willing to hold, these companies appear to be setting the stage for future gains. Whether you’re a fan of tech stability or mining momentum, both dividend stocks offer a chance to buy now and reap the rewards later.

The post 2 Magnificent TSX Dividend Stocks Down 33% to Buy and Hold Forever appeared first on The Motley Fool Canada.

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2024

Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company") provides further information respecting its non-brokered placement which was the subject of its news releases of November 21 and December 16, 2024 (the "Offering").

The Company intends to close on aggregate gross proceeds of $1,000,400, from the sale of:

6,276,923 non-flow through units ("NFT Units") at a purchase price of $0.13 per NFT Unit (the "NFT Offering Price") for gross proceeds of $816,000; and
1,152,500 flow-through shares ("FT Shares") at a price of $0.16 per FT Share (the "FT Offering Price") for gross proceeds of $184,400.

As previously described, the Company anticipates that, upon the closing of additional tranches, the Offering will consist of a combination of NFT Units at the NFT Offering Price, and FT Shares at the FT Offering Price.

Each FT Share will consist of one flow-through common share of the Company.

Caution to US Investors

About Honey Badger Silver Inc.

(2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for Investor Relations | spekar@honeybadgersilver.com | +1 (647) 498-8244.

Cautionary Note Regarding Forward-Looking Information

SOURCE: Honey Badger Silver Inc.

While recent shifts in bond yields have impacted prices, they also suggest potential for stronger fixed-income returns as the Bank of Canada continues to adjust rates. In this context, understanding what makes a good stock is crucial—particularly when considering penny stocks, which can still offer valuable opportunities despite being considered somewhat outdated. These smaller or newer companies may provide investors with hidden value and growth potential when backed by strong financials.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Findev (TSXV:FDI)	CA$0.445	CA$12.75M	★★★★★★
Mandalay Resources (TSX:MND)	CA$3.97	CA$372.82M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.31	CA$117.44M	★★★★★★
Silvercorp Metals (TSX:SVM)	CA$4.32	CA$939.87M	★★★★★★
PetroTal (TSX:TAL)	CA$0.56	CA$510.73M	★★★★★★
Foraco International (TSX:FAR)	CA$2.28	CA$224.43M	★★★★★☆
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★
NamSys (TSXV:CTZ)	CA$1.25	CA$33.58M	★★★★★★
Hemisphere Energy (TSXV:HME)	CA$1.79	CA$174.58M	★★★★★☆
Enterprise Group (TSX:E)	CA$1.89	CA$116.34M	★★★★☆☆

Click here to see the full list of 959 stocks from our TSX Penny Stocks screener.

Let’s uncover some gems from our specialized screener.

Cabral Gold

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Cabral Gold Inc. is a mineral exploration and development company primarily focused on gold properties in Brazil, with a market cap of CA$46.69 million.

Operations: Currently, there are no reported revenue segments for this mineral exploration and development company.

Market Cap: CA$46.69M

Cabral Gold Inc., a pre-revenue mineral exploration company, recently closed a private placement raising CA$2.1 million, indicating ongoing efforts to secure capital amidst its unprofitable status. The company’s recent exploration results at the Jerimum Cima target within the Cuiú Cuiú Gold District highlight promising gold-in-oxide mineralization, potentially expanding resource estimates. However, challenges persist with shareholder dilution and limited cash runway despite recent fundraising efforts. The board and management are relatively inexperienced with short tenures, suggesting potential for strategic shifts as Cabral continues its exploration activities in Brazil without significant revenue streams.

TSXV:CBR Debt to Equity History and Analysis as at Dec 2024Palisades Goldcorp

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Palisades Goldcorp Ltd. is a resource investment company and merchant bank that invests in junior companies within the resource and mining sector, with a market cap of CA$69.46 million.

Operations: The company generates revenue from its Metals & Mining segment, specifically in Gold & Other Precious Metals, amounting to CA$1.44 million.

Market Cap: CA$69.46M

Palisades Goldcorp Ltd., a resource investment company, reported CA$1.26 million in revenue for Q3 2024, marking an improvement from negative figures the previous year. Despite this, the company remains pre-revenue with substantial losses and a negative return on equity of -46.95%. The recent resignation of board member Bill Hayden and its removal from the S&P/TSX Venture Composite Index could signal strategic shifts. While debt-free with a stable cash runway exceeding three years, Palisades faces challenges covering long-term liabilities with short-term assets and has not experienced shareholder dilution recently.

TSXV:PALI Debt to Equity History and Analysis as at Dec 2024Wallbridge Mining

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Wallbridge Mining Company Limited focuses on the acquisition, exploration, discovery, development, and production of gold properties with a market cap of CA$71.28 million.

Operations: Wallbridge Mining Company Limited does not report any specific revenue segments.

Market Cap: CA$71.28M

Wallbridge Mining Company Limited, with a market cap of CA$71.28 million, is pre-revenue and currently unprofitable. The company has experienced shareholder dilution over the past year and faces challenges covering long-term liabilities with its short-term assets. Despite these financial hurdles, Wallbridge recently reported promising metallurgical test results from its Martiniere Gold Project, achieving gold recoveries up to 84.8%. Additionally, recent drilling at the Fenelon Gold Project returned significant high-grade gold intercepts, indicating potential resource expansion. Wallbridge remains debt-free but has a limited cash runway of nine months based on current estimates.

TSX:WM Debt to Equity History and Analysis as at Dec 2024Where To Now?

Unlock more gems! Our TSX Penny Stocks screener has unearthed 956 more companies for you to explore.Click here to unveil our expertly curated list of 959 TSX Penny Stocks.
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Find companies with promising cash flow potential yet trading below their fair value.

Companies discussed in this article include TSXV:CBR TSXV:PALI and TSX:WM.

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

Key Insights

Significant insider control over Bravo Mining implies vested interests in company growth
The top 2 shareholders own 58% of the company
Insiders have bought recently

If you want to know who really controls Bravo Mining Corp. (CVE:BRVO), then you'll have to look at the makeup of its share registry. The group holding the most number of shares in the company, around 53% to be precise, is individual insiders. Put another way, the group faces the maximum upside potential (or downside risk).

And looking at our data, we can see that insiders have bought shares recently. This might indicate that they expect share prices to rise in the near future.

Let's take a closer look to see what the different types of shareholders can tell us about Bravo Mining.

Check out our latest analysis for Bravo Mining

TSXV:BRVO Ownership Breakdown December 30th 2024What Does The Institutional Ownership Tell Us About Bravo 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.

Bravo Mining already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Bravo Mining's earnings history below. Of course, the future is what really matters.

TSXV:BRVO Earnings and Revenue Growth December 30th 2024

Bravo Mining is not owned by hedge funds. The company's CEO Luis de Azevedo is the largest shareholder with 48% of shares outstanding. With 9.5% and 4.2% of the shares outstanding respectively, BlackRock, Inc. and Franklin Resources, Inc. are the second and third largest shareholders.

A more detailed study of the shareholder registry showed us that 2 of the top shareholders have a considerable amount of ownership in the company, via their 58% stake.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.

Insider Ownership Of Bravo Mining

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

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

It seems that insiders own more than half the Bravo Mining Corp. stock. This gives them a lot of power. So they have a CA$97m stake in this CA$181m business. Most would be pleased to see the board is investing alongside them. You may wish todiscover (for free) if they have been buying or selling.

General Public Ownership

The general public, who are usually individual investors, hold a 33% stake in Bravo 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:

It's always worth thinking about the different groups who own shares in a company. But to understand Bravo Mining better, we need to consider many other factors. Be aware that Bravo Mining is showing 1 warning sign in our investment analysis , you should know about…

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

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

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:

BHP Group Limited BHP is a resources company. The Zacks Consensus Estimate for its current year earnings has been revised 5.9% downward over the last 60 days.

Douglas Dynamics, Inc. PLOW is a work truck equipment manufacturer and upfitter company. The Zacks Consensus Estimate for its current year earnings has been revised 11.1% downward over the last 60 days.

Helios Technologies, Inc. HLIO is a motion control and electronic control technology company.The Zacks Consensus Estimate for its current year earnings has been revised 7% downward over the last 60 days.

View the entire Zacks Rank #5 List.

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Douglas Dynamics, Inc. (PLOW) : Free Stock Analysis Report

Helios Technologies, Inc (HLIO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Has closed the non-brokered private placement offering as announced on November 12, 2024 and increased on December 2, 2024, through the issuance of 5,000,000 units at a subscription price of $0.05 per unit in this 3rd and final tranche for aggregate gross proceeds to the Company of $250,000. In total, the Company has closed on 15,650,000 Units for aggregate gross proceeds of $782,500. Golden Arrow Resources Corporation shares V.GRG are trading down $0.01 at $0.05.

Read:

/NOT FOR DISTRIBUTION TO THE UNITED STATES/

TSX Venture Exchange (TSX-V): GRGFrankfurt Stock Exchange (FSE): G6AOTCQB Venture Market (OTCQB): GARWF

www.goldenarrowresources.com • info@goldenarrowresources.com

VANCOUVER, BC, Dec. 24, 2024 /CNW/ – Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to announce it has closed the non-brokered private placement offering (the "Offering") as announced on November 12, 2024 and increased on December 2, 2024, through the issuance of 5,000,000 units at a subscription price of $0.05 per unit (a "Unit" or "Units") in this 3rd and final tranche (the "Final Tranche") for aggregate gross proceeds to the Company of $250,000. In total, the Company has closed on 15,650,000 Units for aggregate gross proceeds of $782,500.

Golden Arrow Resources Corporation logo (CNW Group/Golden Arrow Resources Corporation)

Each Unit consists of one common share and one warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.08 per share for three years from the date of issue, expiring on December 24, 2027 for this Final Tranche.

In total, finder's fees of $22,750 are payable in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 455,000 non-transferable finder's warrants are issuable (the "Finder's Warrants"). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.05 per share for three years from the date of issue, expiring on December 24, 2027 for this Final Tranche.

No insiders participated in this Final Tranche.

The Company's flagship San Pietro IOCG Project in Chile is funded to support a resource delineation program through the recently announced option agreement (see News Release dated January 12, 2024). The proceeds of this Offering will provide funds for general working capital.

This Offering is subject to regulatory approval and all securities to be issued pursuant to the Offering are subject to a four-month hold period under applicable Canadian securities laws expiring on April 24, 2025 for this Final Tranche.

About Golden Arrow:

Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.

Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 hectares of prospective properties in Argentina.

The 100%-held San Pietro Project covers nearly 18,500 hectares, approximately 100 kilometres north of Copiapo in the centre of a potential new copper-cobalt region within an active mining district that is home to all the major iron oxide-copper-gold ("IOCG") deposits in Chile. San Pietro hosts multiple targets with strong IOCG+cobalt mineralization, and the Company is working to delineate its first mineral resource for the project in 2025.

The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Joseph Grosso"

_______________________________Mr. Joseph Grosso, Executive Chairman, President and CEO

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

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

SOURCE Golden Arrow Resources Corporation

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/24/c3960.html

The Canadian market has experienced a pullback recently, with the TSX index losing ground amid political uncertainty and profit-taking. Despite this volatility, the underlying economic fundamentals remain strong, creating opportunities for investors willing to explore diverse options. Penny stocks, often associated with smaller or newer companies, continue to offer potential value by combining affordability with growth prospects; here we explore three such stocks that stand out for their financial strength.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Findev (TSXV:FDI)	CA$0.445	CA$14.04M	★★★★★★
Mandalay Resources (TSX:MND)	CA$4.14	CA$389.72M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.24	CA$115M	★★★★★★
Silvercorp Metals (TSX:SVM)	CA$4.32	CA$942.04M	★★★★★★
PetroTal (TSX:TAL)	CA$0.54	CA$501.61M	★★★★★★
Foraco International (TSX:FAR)	CA$2.28	CA$221.48M	★★★★★☆
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★
NamSys (TSXV:CTZ)	CA$1.25	CA$33.58M	★★★★★★
Hemisphere Energy (TSXV:HME)	CA$1.80	CA$179.46M	★★★★★☆
Enterprise Group (TSX:E)	CA$1.85	CA$112.03M	★★★★☆☆

Click here to see the full list of 956 stocks from our TSX Penny Stocks screener.

Let’s dive into some prime choices out of the screener.

GoGold Resources

Simply Wall St Financial Health Rating: ★★★★★★

Overview: GoGold Resources Inc. is involved in the exploration, development, and production of silver, gold, and copper mainly in Mexico with a market cap of CA$362.48 million.

Operations: The company’s revenue segment primarily comprises Metals & Mining – Gold & Other Precious Metals, generating $36.50 million.

Market Cap: CA$362.48M

GoGold Resources has demonstrated a turnaround by becoming profitable in the past year, with net income of US$1.58 million for the full year ending September 30, 2024, compared to a net loss previously. The company reported sales of US$36.5 million and produced over 1.48 million silver equivalent ounces during this period. Despite having no debt and adequate short-term assets to cover liabilities, its return on equity remains low at 0.6%. The management team is experienced with an average tenure of nearly nine years, while shareholders have not faced significant dilution recently.

TSX:GGD Financial Position Analysis as at Dec 2024Loncor Gold

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Loncor Gold Inc. is a gold exploration company focused on acquiring, exploring, and developing precious metal projects in the Ngayu greenstone belt of the Democratic Republic of the Congo and Canada, with a market cap of CA$77.31 million.

Operations: Loncor Gold Inc. does not have reported revenue segments as it is primarily engaged in gold exploration activities.

Market Cap: CA$77.31M

Loncor Gold Inc., a pre-revenue gold exploration company, is actively advancing its projects in the Ngayu greenstone belt. Despite being unprofitable with increasing losses over the past five years, Loncor remains debt-free and has stable short-term assets exceeding liabilities. The management and board are highly experienced, with average tenures of 14.8 and 16 years respectively. Recent developments include a significant drilling program at Adumbi, targeting deeper mineralization beyond existing resources of over 3 million ounces of gold. However, the company faces financial constraints with less than a year’s cash runway under current expenditure trends.

TSX:LN Financial Position Analysis as at Dec 2024Ynvisible Interactive

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Ynvisible Interactive Inc. develops and sells electrochromic displays in Europe and North America, with a market cap of CA$15.56 million.

Operations: Currently, there are no specific revenue segments reported for this company.

Market Cap: CA$15.56M

Ynvisible Interactive Inc., a pre-revenue company with a market cap of CA$15.56 million, is gaining attention through strategic partnerships and technological advancements in the e-paper display sector. Recent collaborations include integrating its displays into security systems and transit information solutions, highlighting potential for scalable revenue growth as initial orders are placed for testing. Despite being unprofitable with increasing losses over five years, Ynvisible remains debt-free and has adequate short-term assets covering liabilities. The management team is seasoned, contributing to the company’s innovative approach in expanding its presence in Europe and North America through new distribution agreements.

TSXV:YNV Debt to Equity History and Analysis as at Dec 2024Key Takeaways

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Companies discussed in this article include TSX:GGD TSX:LN and TSXV:YNV.

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For Immediate Release

Chicago, IL – December 23, 2024 – Today, Zacks Equity Research discusses Southern Copper Corp. SCCO, Coeur Mining CDE and Energy Fuels UUUU.

Industry: Metal & Mining – Non-Ferrous

Link: https://www.zacks.com/commentary/2386416/3-non-ferrous-metal-mining-stocks-to-consider-amid-industry-concerns

Against this backdrop, we suggest keeping an eye on companies like Southern Copper Corp., Coeur Mining and Energy Fuels. These companies are poised to gain from their endeavors to build reserves and control costs while investing in technology and improving production efficiency.

About the Industry

Mining is a long, complex and capital-intensive process. The actual mining operations are preceded by significant exploration and development to evaluate the size of the deposit. The process is followed by the assessment of ways to extract and process the ores efficiently, safely and responsibly. Miners seek opportunities to grow their reserves and resources through targeted near-mine exploration and business development. They strive to upgrade and improve the quality of their existing assets internally and through acquisitions.

What's Shaping the Future of the Mining – Non Ferrous Industry?

The looming threat of higher U.S. tariffs under the Trump administration adds further uncertainty to the market outlook. The prolonged contraction in the U.S. manufacturing sector is concerning. Uranium prices have fallen 18.9% this year and are currently near $73 per pound, the lowest in a year due to expectations of an increase in supply. Gold and silver prices have dipped lately on the Fed's hawkish signal of fewer rate cuts in 2025.

Despite this dip, gold has fared better than other metals this year, gaining 26% year to date, aided by rising geopolitical tensions, increasing bets for monetary policy easing and continuous purchasing by central banks. Silver prices have also risen 21% so far this year on these factors . However, the contraction in the manufacturing sector might hurt silver demand.

Overall, industry players are dealing with depleting resources, declining supply in old mines and a lack of new mines. Development projects are inherently risky and capital-intensive. While demand has been strong, there will be an eventual deficit in metal supply, leading to a situation that will bolster metal prices. This, in turn, should favor the industry in the long run.

Labor Shortage, High Costs Remain Worrisome: The industry has been facing a shortage of skilled workforce lately, which has hiked wages. Labor-related disputes can be damaging to production and revenues. Industry players are grappling with escalating production costs, including electricity, water and materials, as well as higher freight expenses and supply-chain issues.

Since the industry cannot control the prices of its products, it focuses on improving the sales volume, increasing the operating cash flow and lowering unit net cash costs. Industry participants are opting for alternate energy sources to minimize fuel-price volatility and secure supply. Miners are now committed to cost-reduction strategies and digital innovation to drive operating efficiencies.

Strong Demand to Support the Industry: The demand for non-ferrous metals is expected to remain high in the future, given their wide use in primary sectors, including transportation, electricity, construction, telecommunication, energy and information technology. The surging demand for electric vehicles and renewable energy is expected to be a significant growth driver for metals like copper and nickel in the years to come. The overhauling and upgrading of the nation's infrastructure and promoting green policies per the U.S. Infrastructure Investment and Jobs Act will also require a huge amount of non-ferrous metals.

Zacks Industry Rank Indicates Bleak Prospects

The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dull prospects for the near term. The Zacks Mining – Non Ferrous industry, a 12-stock group within the broader Zacks Basic Materials Sector, currently carries a Zacks Industry Rank #135, which places it in the bottom 46% of 249 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Before we present a few stocks that you may want to consider for your portfolio, let us look at the industry's recent stock-market performance and its valuation picture.

Industry Versus S&P 500 & Sector

The Zacks Mining- Non Ferrous Industry has outperformed its sector but underperformed the Zacks S&P 500 composite over the past 12 months. The stocks in this industry have collectively gained 1.2% in the past year against the Zacks Basic Materials sector's decline of 10.5%. The S&P 500 has risen 25.7% in the said time frame.

Industry's Current Valuation

Based on the forward 12-month EV/EBITDA ratio, a commonly used multiple for valuing Mining- Non Ferrous stocks, we see that the industry is currently trading at 8.13X compared with the S&P 500's 24.78X. The Basic Materials sector's forward 12-month EV/EBITDA is at 7.63X.

Over the past five years, the industry has traded as high as 8.876X and as low as 5.68X, the median being 6.41X.

3 Mining – Non Ferrous Stocks to Keep an Eye On

The highlights from surface and underground expansion drilling completed last year continue to support Silvertip's status as one of the world's highest-grade, undeveloped carbonate replacement deposits. CDE recently announced an agreement to acquire SilverCrest Metals in an all-stock transaction with an implied value of $1.7 billion. The acquisition is anticipated to close in the first quarter of 2025, and is expected to materially enhance its cost and cash flow profile and accelerate its de-leveraging initiative. CDE stock has gained 63% in a year.

The Zacks Consensus Estimate for CDE's fiscal 2024 earnings indicates year-over-year upsurge of 165%. The estimate has moved up 88% in the past 90 days. CDE has a trailing four-quarter earnings surprise of 46%, on average. The company currently sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today's Zacks #1 Rank stocks here.

The company's capital investment program for this decade exceeds $15 billion and includes investments at the Buenavista Zinc, Pilares, El Pilar and El Arco projects in Mexico and the Tia Maria, Los Chancas and Michiquillay projects in Peru. Given its constant commitment to increasing low-cost production and growth investments, the company is well-poised to continue delivering an enhanced performance. SCCO stock has gained 8% in a year.

The Zacks Consensus Estimate for the Phoenix, AZ-based company's fiscal 2024 earnings indicates year-over-year growth of 19%. The estimate has moved up 5% over the past 90 days. SCCO has a long-term estimated earnings growth rate of 14.4%. The company currently carries a Zacks Rank #3 (Hold).

With the acquisition of RadTran LLC, the company recently made its foray into the medical isotope market. These play a crucial role in cancer treatment and there has been a global scarcity of these isotopes. Also, the Madagascar government recently lifted the suspension on its 100%-owned Toliara project, which is a major development. Toliara is expected to play a key role in UUUU's strategy to diversify beyond uranium and become a leading supplier of critical minerals. UUUU stock has lost 28.6% in a year mainly due to the decline in uranium prices.

The Zacks Consensus Estimate for the company's fiscal 2024 earnings is pegged at a loss of 10 cents per share, indicating a turnaround from the loss of 12 cents per share reported in fiscal 2023. The estimate has moved up from an estimated loss of 11 cents per share 90 days ago. The company currently carries a Zacks Rank of 3.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Southern Copper Corporation (SCCO) : Free Stock Analysis Report

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

Energy Fuels Inc (UUUU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

VANCOUVER, BC / ACCESSWIRE / December 23, 2024 / Commerce Resources Corp. (TSXv:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") announces a change to its Board of Directors.

Mr. Jody Dahrouge resigned as a Director of the Commerce Resources board, effective December 20, 2024. Mr. Dahrouge has been a Director since January 2000. The board and everyone involved with Commerce wish to express their gratitude to Mr. Dahrouge for his exceptional commitment and invaluable contributions during his tenure as a director.

Mr. Dahrouge played a pivotal role in the discovery of the Ashram Rare Earth and Fluorspar project and our recent Niobium exploration success. It was his team that discovered Ashram in 2008, and he has been instrumental in guiding the company's exploration and development programs.

"Jody has made an exceptional contribution both to the positioning of Commerce Resources and the development of the Ashram REE project based in Québec, Canada," said Ross Carroll, CEO of Commerce Resources. The Board of Directors would like to thank Jody for his contribution to the company and wish him well in his future endeavors.

ABOUT COMMERCE RESOURCES CORP.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located within their Eldor Property, in northern Quebec, Canada. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (more than 30 – 45% TREO) mineral concentrates at high recovery (more than 60 – 75%) in line with active global producers.

The Ashram Deposit also has a fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market.

Additionally, Commerce is committed to exploring the potential of other high-value commodities on the Property such as niobium and phosphate minerals, which may help advance Ashram by reducing costs through shared development.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

Ross CarrollCEO and PresidentPhone: 604.484.2700Email: rcarroll@commmerceresources.com

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include; that Ashram's fluorspar component makes it one of the largest potential sources of fluorspar in the world; that the Ashram deposit could be a long-term supplier to the met-spar and acid-spar markets; that the Company is positioning to be one of the lowest cost rare earth element producers globally, with a focus on being a long-term global supplier of mixed rare earth carbonate and/or NdPr oxide; and that the Company may explore the potential of other high-value commodities on the Ashram Property. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: that the Company may not be able to fully finance any additional exploration on the Ashram Project; that even if the Company is able raise capital, costs for exploration activities may increase such that the Company may not have sufficient funds to pay for such exploration or processing activities; the timing and content of the proposed drill program and any future work programs may not be completed as proposed or at all; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram Project may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the anticipated market demand for rare earth elements and other minerals may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable. The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE: Commerce Resources Corp.

View the original press release on accesswire.com

The prospects of the Zacks Mining – Non Ferrous industry look bleak as weak demand in China weighs on metal prices. Industry players also grapple with inflated costs, labor shortages and supply-chain issues. However, the demand for non-ferrous metals is expected to be supported by the energy-transition trend, which should buoy the industry.Against this backdrop, we suggest keeping an eye on companies like Southern Copper Corporation SCCO, Coeur Mining CDE and Energy Fuels UUUU. These companies are poised to gain from their endeavors to build reserves and control costs while investing in technology and improving production efficiency.

About the Industry

The Zacks Mining – Non Ferrous industry comprises companies that produce non-ferrous metals, including copper, gold, silver, cobalt, molybdenum, zinc, aluminum and uranium. These metals are used by various industries, including aerospace, automotive, packaging, construction, machinery, electronics, transportation, jewelry, chemical and nuclear energy. Mining is a long, complex and capital-intensive process. The actual mining operations are preceded by significant exploration and development to evaluate the size of the deposit. The process is followed by the assessment of ways to extract and process the ores efficiently, safely and responsibly. Miners seek opportunities to grow their reserves and resources through targeted near-mine exploration and business development. They strive to upgrade and improve the quality of their existing assets internally and through acquisitions.

What's Shaping the Future of the Mining – Non Ferrous Industry?

Volatility in Metal Prices is Concerning: Copper prices have been adversely impacted this year by weak demand in China due to the property crisis. The economic uncertainty in China and the absence of detailed policy plans raise concerns about future demand. The Fed delivered a widely anticipated quarter-point rate cut this week but signaled fewer reductions in 2025 due to persistent inflation. The looming threat of higher U.S. tariffs under the Trump administration adds further uncertainty to the market outlook. The prolonged contraction in the U.S. manufacturing sector is concerning. Uranium prices have fallen 18.9% this year and are currently near $73 per pound, the lowest in a year due to expectations of an increase in supply. Gold and silver prices have dipped lately on the Fed’s hawkish signal of fewer rate cuts in 2025. Despite this dip, gold has fared better than other metals this year, gaining 26% year to date, aided by rising geopolitical tensions, increasing bets for monetary policy easing and continuous purchasing by central banks. Silver prices have also risen 21% so far this year on these factors . However, the contraction in the manufacturing sector might hurt silver demand. Overall, industry players are dealing with depleting resources, declining supply in old mines and a lack of new mines. Development projects are inherently risky and capital-intensive. While demand has been strong, there will be an eventual deficit in metal supply, leading to a situation that will bolster metal prices. This, in turn, should favor the industry in the long run.Labor Shortage, High Costs Remain Worrisome: The industry has been facing a shortage of skilled workforce lately, which has hiked wages. Labor-related disputes can be damaging to production and revenues. Industry players are grappling with escalating production costs, including electricity, water and materials, as well as higher freight expenses and supply-chain issues. Since the industry cannot control the prices of its products, it focuses on improving the sales volume, increasing the operating cash flow and lowering unit net cash costs. Industry participants are opting for alternate energy sources to minimize fuel-price volatility and secure supply. Miners are now committed to cost-reduction strategies and digital innovation to drive operating efficiencies. Strong Demand to Support the Industry: The demand for non-ferrous metals is expected to remain high in the future, given their wide use in primary sectors, including transportation, electricity, construction, telecommunication, energy and information technology. The surging demand for electric vehicles and renewable energy is expected to be a significant growth driver for metals like copper and nickel in the years to come. The overhauling and upgrading of the nation’s infrastructure and promoting green policies per the U.S. Infrastructure Investment and Jobs Act will also require a huge amount of non-ferrous metals.

Zacks Industry Rank Indicates Bleak Prospects

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dull prospects for the near term. The Zacks Mining – Non Ferrous industry, a 12-stock group within the broader Zacks Basic Materials Sector, currently carries a Zacks Industry Rank #135, which places it in the bottom 46% of 249 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Before we present a few stocks that you may want to consider for your portfolio, let us look at the industry’s recent stock-market performance and its valuation picture.

Industry Versus S&P 500 & Sector

The Zacks Mining- Non Ferrous Industry has outperformed its sector but underperformed the Zacks S&P 500 composite over the past 12 months. The stocks in this industry have collectively gained 1.2% in the past year against the Zacks Basic Materials sector’s decline of 10.5%. The S&P 500 has risen 25.7% in the said time frame.

One-Year Price Performance

Industry's Current Valuation

Based on the forward 12-month EV/EBITDA ratio, a commonly used multiple for valuing Mining- Non Ferrous stocks, we see that the industry is currently trading at 8.13X compared with the S&P 500’s 24.78X. The Basic Materials sector’s forward 12-month EV/EBITDA is at 7.63X. This is shown in the charts below.

Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)

Over the past five years, the industry has traded as high as 8.876X and as low as 5.68X, the median being 6.41X.

3 Mining – Non Ferrous Stocks to Keep an Eye on

Coeur Mining: The recently expanded Rochester silver-gold mine in Nevada is on track to achieve its full-year production targets of 4.8-6.6 million ounces of silver and 37,000-50,000 ounces of gold. It can potentially be one of the world’s largest open-pit heap leach operations. Exploration success continues at Silvertip and Kensington, which bodes well for the company’s long-term growth. The highlights from surface and underground expansion drilling completed last year continue to support Silvertip’s status as one of the world’s highest-grade, undeveloped carbonate replacement deposits. CDE recently announced an agreement to acquire SilverCrest Metals in an all-stock transaction with an implied value of $1.7 billion. The acquisition is anticipated to close in the first quarter of 2025, and is expected to materially enhance its cost and cash flow profile and accelerate its de-leveraging initiative. CDE stock has gained 63% in a year.

The Zacks Consensus Estimate for CDE’s fiscal 2024 earnings indicates year-over-year upsurge of 165%. The estimate has moved up 88% in the past 90 days. CDE has a trailing four-quarter earnings surprise of 46%, on average. The company currently sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Price & Consensus: CDE

Southern Copper: The company has the largest copper reserve in the industry and operates world-class assets in investment-grade countries, such as Mexico and Peru. SCCO expects copper production to rise 7% year over year and reach 975,000 tons in 2024. This will be driven by recovery at SX-EW facilities at Buenavista, higher production in Peru and production from the new Buenavista zinc concentrator. The company’s capital investment program for this decade exceeds $15 billion and includes investments at the Buenavista Zinc, Pilares, El Pilar and El Arco projects in Mexico and the Tia Maria, Los Chancas and Michiquillay projects in Peru. Given its constant commitment to increasing low-cost production and growth investments, the company is well-poised to continue delivering an enhanced performance. SCCO stock has gained 8% in a year.

The Zacks Consensus Estimate for the Phoenix, AZ-based company’s fiscal 2024 earnings indicates year-over-year growth of 19%. The estimate has moved up 5% over the past 90 days. SCCO has a long-term estimated earnings growth rate of 14.4%. The company currently carries a Zacks Rank #3 (Hold).

Price & Consensus: SCCO

Energy Fuels: Backed by its debt-free balance sheet, Energy Fuels is ramping up uranium production while advancing rare earth element (REE) capabilities to capitalize on the surge in demand for both in clean energy technologies. The recent acquisition of Base Resources Limited will support its target to become a leading global producer of REEs. Energy Fuels’ industry-leading mineral resources and a pipeline of high-quality, large-scale development and exploration projects provide a competitive edge. With the acquisition of RadTran LLC, the company recently made its foray into the medical isotope market. These play a crucial role in cancer treatment and there has been a global scarcity of these isotopes. Also, the Madagascar government recently lifted the suspension on its 100%-owned Toliara project, which is a major development. Toliara is expected to play a key role in UUUU’s strategy to diversify beyond uranium and become a leading supplier of critical minerals. UUUU stock has lost 28.6% in a year mainly due to the decline in uranium prices. The Zacks Consensus Estimate for the company’s fiscal 2024 earnings is pegged at a loss of 10 cents per share, indicating a turnaround from the loss of 12 cents per share reported in fiscal 2023. The estimate has moved up from an estimated loss of 11 cents per share 90 days ago. The company currently carries a Zacks Rank of 3.

Price & Consensus: UUUU

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Southern Copper Corporation (SCCO) : Free Stock Analysis Report

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

Energy Fuels Inc (UUUU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The most recent trading session ended with Freeport-McMoRan (FCX) standing at $38.88, reflecting a +1.66% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 1.09%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.03%.

Shares of the mining company have depreciated by 12.61% over the course of the past month, underperforming the Basic Materials sector's loss of 8.81% and the S&P 500's loss of 0.71%.

The investment community will be closely monitoring the performance of Freeport-McMoRan in its forthcoming earnings report. The company is expected to report EPS of $0.38, up 40.74% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.02 billion, up 1.91% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.49 per share and revenue of $25.86 billion. These totals would mark changes of -3.25% and +13.13%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Freeport-McMoRan. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.22% fall in the Zacks Consensus EPS estimate. Currently, Freeport-McMoRan is carrying a Zacks Rank of #3 (Hold).

Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 25.69. This denotes a premium relative to the industry's average Forward P/E of 19.3.

It's also important to note that FCX currently trades at a PEG ratio of 2.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Mining – Non Ferrous industry stood at 0.92 at the close of the market yesterday.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 135, which puts it in the bottom 47% of all 250+ industries.

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

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report

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Zacks Investment Research

1: Introduction and commentary

Freeport McMoRan (NYSE:FCX) is a leading mining company specializing in copper and gold production. Like other stocks, I have successfully traded FCX for several years. In this article, I will share my insights on FCX's long-term potential and outline my trading strategy, which aims to minimize risk while maximizing returns.

The company announced its third-quarter results on October 22, 2024. Unlike many major gold and silver miners I've covered on Gurufocussuch as Agnico Eagle (NYSE:AEM), Newmont Corp. (NYSE:NEM), Barrick Gold (GOLD), Kinross (KGC), and Pan American Silver (PAAS)this is my first article focusing on a copper and gold miner.

I decided to write about Freeport McMoRan instead of Southern Copper (NYSE:SCCO) because FCX produces a substantial amount of gold in addition to copper. This is primarily attributed to the Grasberg mine in Papua, Indonesia, one of the largest gold and copper mines globally. Freeport McMoRan, as the operator, holds a 48.76% stake in the mine. The chart below shows the gold, copper, and molybdenum production per mine during the 3Q24.

Freeport McMoRan: Uncertainty at the Grasberg Mine.

Freeport McMoRan increased its stake in Cerro Verde from 53.6% to 55.08% during the third quarter for $210 million. The change in the chart will be implemented next quarter.

I am focusing on FCX because pure copper miners often experience greater volatility, making them more challenging to manage in the long term. FCX is inherently more reliable due to its significant gold production, which can help mitigate risks associated with various factors affecting the broader economic environment and industry dynamics. The chart below shows that copper prices have performed poorly compared to gold or silver.

Freeport McMoRan: Uncertainty at the Grasberg Mine.

Emerging economies heavily influence copper demand, especially the elephant in the room called China, which consumed approximately 6.75 million metric tons in 2023. This figure is projected to increase by 5.7% in 2024. Thus, changes in these economies' growth rates or policies can cause wide fluctuations in copper prices. The company appeared optimistic about its prospects for 2024 and 2025, but many analysts seem cautious.

CFO, Kathleen L. Quirk, said in the conference call:

Notably, China's demand for copper continues to grow despite a weak property sector. Recent announcements of economic stimulus in China to support the country's economic growth targets could further support metals demand as we move through 2024 and into 2025.

Freeport McMoRan's gold production plays indeniably a psychological buffer for investors. However, many of the benefits associated with this production have vanished since it depends solely on gold sourced from the Grasberg mine, located in a region facing recurring risks, issues, and challenges.

Incidently, the recent fire at the smelter has raised additional concerns that could become problematic in 2025, even if the repair costs are covered by construction insurance policy. However, this insurance is not covering "business interruption coverage" as specified in the conferencd call.

Kathleen Quirk could not specify how long the repairs to the smelter, a crucial part of the copper production process, would take. Her attempt to reassure analysts about the situation was not particularly convincing, and I anticipate this issue will lead to some disturbances in 2025. Stay tuned.

On the other hand, PT Indonesia Asahan Aluminium (Persero) (Inalum), a state-owned mining company in Indonesia, has held a majority ownership stake of 51.24% since December 21, 2018.

This partnership is strategically important for Indonesia's economy and contributes to enhancing the safety of the mine. The company released a gold and copper production outlook for the Grasberg mine in its 3Q24 presentation:

Freeport McMoRan: Uncertainty at the Grasberg Mine.

Finally, we all remember the company's costly strategic blunder, "attempts to diversify beyond metals into oil," about ten years ago.

The decision significantly strained the company's finances, resulting in an unsustainable increase in debt and a substantial drop in investor confidence in its management. This situation reached a turning point in 2015-2016 when Freeport-McMoRan decided to "refocus" on its core mining operations and divest from the oil and gas sector.

Consequently, the company sold its oil and gas assets, including those in the Gulf of Mexico, to oil companies such as Anadarko Petroleum, which is now part of Occidental Petroleum (OXY).

This self-inflicted nightmare cost the company an estimated $17 billion, and despite some significant recent stock gains, FCX continues to suffer from the consequences.

Freeport McMoRan: Uncertainty at the Grasberg Mine.

The most surprising aspect is that, despite facing criticism from shareholders and analysts, management chose not to impose any personal financial penalties on the executives responsible for their poor decisions. Consequently, the economic burden primarily fell on the company and, most importantly, its shareholders. Investors often overlook this factor, leading to negative consequences.

Thus, always prioritize your interests, and remember that what may be deemed good for the company is not necessarily good for you, shareholder. This is especially true during times of acquisition or merger.The optimal approach for investors is to diversify their investments and thoroughly analyze a company's fundamentals, ensuring that subjective biases do not sway their decisions. When considering Freeport McMoRan (NYSE:FCX), investors should be cautious of two key issues.

The first concern is that gold production is heavily concentrated in the Grasberg mine. Any technical glitches or political crises could negatively impact FCX's performance.

The second factor to consider is the price of copper, which appears to have limited potential for significant increases and lacks strong support on the downside. As a key industrial metal, copper prices will likely be more stable and unlikely to experience the same rallies as gold.

Identifying potential issues that could jeopardize the company before they arise is essential. Such problems can affect any stock, no matter how solid it appears.

Lastly, the quarterly dividend decreased from $0.3125 in 1Q15 to $0.05 per share in the next quarter and has struggled to recover. Currently, the company is paying a low quarterly dividend of $0.075 per share or a yield of 1.4%.

2: What insights can we gain from the third quarter results?

Freeport McMoRan reported that its third-quarter earnings per share fell short of expectations. The company's net income was $526 million, or $0.36 per share, compared to $454 million in the same quarter last year. Adjusted earnings were $0.38 per share. The CFO, Kathleen L. Quirk, said in the conference call:

Our operating performance was supported by sales volumes exceeding guidance for copper and gold and favorable unit cash cost performance compared to our guidance and the year-ago quarter.

Revenues increased by 16.6% year-over-year, reaching a record of $6,790 million in the third quarter, compared to $5,824 million in the previous year's quarter. See the chart below for historical data:

Freeport McMoRan: Uncertainty at the Grasberg Mine.

The market anticipated a stronger quarter, as the price of gold has risen over the past few months. Copper also performed well. FCX sold its gold at an average price of $2,568 per troy ounce, compared to $1,898 the previous year.

Freeport McMoRan: Uncertainty at the Grasberg Mine.

The copper price averaged $4.30 per pound, while molybdenum reached $22.88.Rising gold and copper prices influenced the results in 3Q24, although the copper price slightly declined compared to the previous quarter.

Freeport McMoRan: Uncertainty at the Grasberg Mine.

In the third quarter, free cash flow reached $673 million, a significant increase from the $58 million reported in 3Q23. For the last nine months of 2024, FCX generated a total free cash flow of $2,155 million.

Freeport McMoRan: Uncertainty at the Grasberg Mine.

However, despite these impressive figures, management maintained the quarterly dividend at $0.075 per share. We did not get any information about dividends in the conference call besides the all-too-familiar:

We reiterate the financial policy priorities centered on a strong balance sheet, shareholder cash returns, and investments in value-enhancing growth projects.

Cash flow from operations reached $1.872 billion, while capital expenditures totaled $1.199 billion.

Finally, cash, cash equivalents, and marketable securities at the end of the quarter were $5,000 million, down from $5,273 million the prior quarter. The company's total debt was $9,679 million, up around 2.9% year over year.

Freeport McMoRan: Uncertainty at the Grasberg Mine.3: A quick look at gold and copper production. The Grasberg Mine is a strong component.Freeport McMoRan: Uncertainty at the Grasberg Mine.

I want to share my key observations regarding the company's production reports. They maintain two types of metal production reports: total gross production, referred to as "consolidated," and net production, which deducts "non-controlling interests" from the gross output. The chart above presents consolidated production figures, significantly higher than FCX's net amounts. For example, in the third quarter, FCX reported consolidated copper production of 1,051 million pounds, but the net production was only 687 million. Similarly, gold consolidated production was reported as 456 thousand ounces, whereas the net production stood at 225 thousand ounces (FCX owns 48.76% of the Grasberg mine).

Lastly, molybdenum consolidated production was 20 million pounds, with a net production of 17 million pounds.

The CFO, Kathleen L. Quirk, said:

Our operating performance was supported by sales volumes exceeding guidance for copper and gold and favorable unit cash cost performance compared to our guidance and the year-ago quarter.

Consolidated copper production declined by approximately 3.1% year over year, while consolidated gold production decreased by about 14.3%. This decline was primarily attributed to lower ore grades and reduced operating rates in North American mines. Those figures aligned with analysts' expectations.

One positive aspect is that the consolidated average copper net cash costs decreased to $1.39 per pound, down from $1.73 a year ago, which reflects a significant achievement.

4: Technical Analysis: A descending Channel Pattern.Freeport McMoRan: Uncertainty at the Grasberg Mine.

Note: The stockcharts chart has been adjusted for dividends.

Freeport McMoRan trades within a descending channel pattern, with resistance at $44 and support at $40. The relative strength index (RSI) stands at 33, indicating a weak bearish trend with a potential oversold situation indicating a buy signal. While a descending channel is typically seen as a bearish patternsuggesting that the stock price is making new lowsit can also set the stage for a bullish breakout.

The stock may have established support at approximately $40 unless the global geopolitical uncertainty continues to deteriorate. Consider adding to your position or buying more shares, starting at $40.5 and potentially going as low as $38.75. You could spread your purchases across several lots within this wide range.

Furthermore, it is advisable to gradually sell a portion of your position once the stock price rises above $43.80 using your 70% profit sale target. Please pay special attention to the Grassberg mine and the technical issues related to the smelter fire.

Also, if the price of gold declines from its all-time highs, FCX could drop below $38, possibly revisiting the previous lower support level. The same logic applies if the outlook for copper turns bearish. Please refer to the accompanying chart for more information.

Taking partial short-term profits using the LIFO (Last In, First Out) method is essential for stocks similar to FCX. Consider using about 70% of your position for short-term trading while maintaining a core long-term investment with the hope of a dividend increase.

Warning: The technical analysis chart should be updated regularly.

This article first appeared on GuruFocus.

Freeport-McMoRan (FCX) closed the most recent trading day at $38.24, moving -1.21% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.09%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.1%.

Prior to today's trading, shares of the mining company had lost 11.42% over the past month. This has lagged the Basic Materials sector's loss of 7.73% and the S&P 500's loss of 0.29% in that time.

Market participants will be closely following the financial results of Freeport-McMoRan in its upcoming release. On that day, Freeport-McMoRan is projected to report earnings of $0.38 per share, which would represent year-over-year growth of 40.74%. At the same time, our most recent consensus estimate is projecting a revenue of $6.02 billion, reflecting a 1.91% rise from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.49 per share and a revenue of $25.86 billion, indicating changes of -3.25% and +13.13%, respectively, from the former year.

Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.22% decrease. Freeport-McMoRan presently features a Zacks Rank of #3 (Hold).

In the context of valuation, Freeport-McMoRan is at present trading with a Forward P/E ratio of 26. This represents a premium compared to its industry's average Forward P/E of 18.42.

Also, we should mention that FCX has a PEG ratio of 2.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Mining – Non Ferrous industry stood at 0.93 at the close of the market yesterday.

The Mining – Non Ferrous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 136, this industry ranks in the bottom 46% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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

Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Toronto, Ontario–(Newsfile Corp. – December 19, 2024) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), announces that, further to its press release of April 29, 2024, it intends to settle an aggregate of $800,000 of indebtedness to certain creditors of the Company through the issuance of an aggregate of 15,999,999 common shares in the capital of the Company (the "Common Shares") at a price of $0.05 per Common Share (the "Debt Settlement").

The Company owes Mr. Gorden Glenn, the President and Chief Executive Officer of the Company an aggregate of $708,542 (the "Glenn Debt"). The Company and Mr. Glenn have agreed, subject to the receipt of shareholder approval and the approval of the TSX Venture Exchange (the "TSXV"), to allow for the conversion of the Glenn Debt into 14,170,835 Common Shares. In the event that the Glenn Debt is convert into Common Shares, Mr. Glenn's holdings, together with Mr. Glenn's current holdings, of Common Shares will be approximately 19,441,575 Common Shares, representing approximately 22.48% of the issued and outstanding Common Shares. The settlement of the Glenn Debt will result in the creation of a new "Control Person" (as such term is defined in the policies of the TSXV Corporate Finance Manual) and, is subject to shareholder approval pursuant to the policies of the TSXV.

The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSXV and disinterested shareholder approval which it will be seeking at its upcoming annual and special shareholder meeting being held on January 22, 2025.

All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The Debt Settlement is constituted "related party transactions" as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as certain insiders of the Company will receive an aggregate of 14,299,999 Common Shares. The Company is relying on the exemptions from the valuation approval requirements of MI 61-101 contained in section 5.5(b) of MI 61-101 as the securities of the Corporation are only listed on the TSXV. Completion of the Debt Settlement is subject to the minority approval requirement of MI 61-101 and will require the approval of shareholders, excluding any votes attached to the Common Shares held by Messrs. Glenn and Irwin (and any related parties of Messrs. Glenn and Irwin and any persons acting jointly or in concert with Messrs. Glenn and Irwin or related parties of Messrs. Glenn and Irwin)

The Debt Settlement was approved by the members of the board of directors of the Company who are independent for the purposes of the Debt Settlement, being all directors other than Mr. Gorden Glenn and Mr. Chris Irwin. No special committee was established in connection with the Debt Settlement, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

About Minnova Corp.

Minnova Corp. is focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life, was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba.

For more information please contact:

Minnova Corp.Gorden Glenn President & Chief Executive Officer

For further information, please contact Investor Relations at 647-985-2785 or info@minnovacorp.ca.

Visit our website at www.minnovacorp.ca.

Forward-Looking Statements

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

NOT FOR DISSEMINATION INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234562

PHILADELPHIA, Dec. 19, 2024 /PRNewswire/ —

FMC Corporation (NYSE: FMC) announced today it will release its fourth quarter 2024 earnings on Tuesday, February 4, 2025, after the stock market close via PR Newswire and the company's website https://investors.fmc.com.

The company will host a webcast conference call on Tuesday, February 4, 2025, at 5:00 p.m. ET that is open to the public via internet broadcast and telephone. At this time, management will provide commentary on the results from the fourth quarter and full year 2024, guidance for the first quarter and full year 2025, as well as an update on the three-year outlook and the company's strategy. The call time has been extended to 90 minutes from the usual 60 minutes to accommodate the number of topics and Q&A adequately.

Conference Call Details:

Internet broadcast: https://investors.fmc.com

United States (Local): +1 404 975 4839United States (Toll-Free): +1 833 470 1428Global Dial-In Numbers: Global Dial-in NumberAccess Code: 338624

Pre-Registration Link: https://www.netroadshow.com/events/login?show=2f7e0221&confId=75596

A replay of the call will be available via the internet and telephone from 6:30 p.m. ET on February 4, 2025, until February 24, 2025.

Internet replay: https://investors.fmc.comUnited States (Local): 1 929 458 6194United States (Toll-Free): 1 866 813 9403Access Code: 793208

About FMC

FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers and crop advisers to address their toughest challenges economically while protecting the environment. With approximately 5,800 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn®.

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/fmc-corporation-announces-date-for-fourth-quarter-2024-earnings-release-and-webcast-conference-call-302336288.html

SOURCE FMC Corporation

Wallbridge Mining Company Limited

TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) today reports the results of its 2024 metallurgical testing program for its Martiniere Gold Project (“Martiniere”). Test work completed by SGS Lakefield Research Ltd. (“SGS Lakefield”) indicates gold recoveries of up to 84.8% can be achieved using conventional and proven technologies.

The 2024 metallurgical testing program was done as an initial test to evaluate potential gold recoveries for various grind sizes and processing technologies applied to a representative sample composite collected from five holes drilled along the Bug Lake zone at Martiniere (see map below). Material collected was tested for its amenability to gravity separation, flotation, and cyanidation under varying grind sizes and conditions. Testing shows gold recoveries up to 84.8% can be achieved using a combination of gravity, flotation, regrind and cyanidation of sulfide concentrate and flotation tailings (see table below).

“These initial metallurgical test results are positive and achieve two important objectives,” stated Brian Penny, Wallbridge Chief Executive Officer. “First, they demonstrate that good gold recoveries can be attained from Bug Lake mineralization. Second, they indicate these recoveries can be achieved using well-established time-tested mineral processing technologies. Moreover, the information generated by this year’s metallurgical testing program at Martiniere provides a solid foundation for the design of future metallurgical and related technical studies as we continue to explore the deposit and advance the project.”

Metallurgical test work results:

The grade of the composite sample averaged 3.21 g/t Au. A gold recovery of 18.5% was achieved by gravity separation for material with a P80 grind size of 150 microns (“μm”). Flotation testing conducted on material with a P80 grind size of 83 μm achieved a gold recovery of 89.5%. Cyanidation (‘CN’) testing done on flotation tailings material yielded a maximum gold recovery of 68.2%. Cyanidation of sulfide concentrate re-ground to P80 at 29 μm and 16 μm returned gold recoveries of 62.0% and 82.9% respectively.

Overall, an average gold recovery of 84.8% was achieved after a 48 hour processing cycle involving a combination of gravity recovery, sulfide flotation, regrind of sulfide concentrate to P80 at 16 μm, and cyanidation of sulfide concentrate and residual flotation tailings.

Wallbridge Martiniere Gold Project: 2024 Metallurgical Test Summary
Tests	Gold Recovery %
Tests	GravitySeparation	Cyanidation of Sulfide Flotation Concentrate and Flotation Tails
Time (hours)	t = 0	6 Hr	24 Hr	36 Hr	48 Hr
Combined Tail – Concentrate @ 29 μm	18.5%	71.0	73.2	73.0	73.6
Combined Tail – Concentrate @ 16μm	18.5%	84.4	84.4	85.3	84.8
CN Flotation Concentrate @ 29 μm	18.5%	66.4	67.3	67.2	67.8
CN Flotation Concentrate @ 16 μm	18.5%	79.7	78.6	79.5	79.0
CN Flotation Tails @ 83 μm	18.5%	23.1	24.3	24.3	24.3

2024 Metallurgical Composite Sample Locations

Quality Assurance / Quality Control

Wallbridge maintains a Quality Assurance/Quality Control ("QA/QC") program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of blanks and certified reference materials, and completion of secondary check analyses performed at a separate independent accredited laboratory. Drill core is halved and shipped in sealed bags to SGS in Val d’Or, Quebec where they are re-distributed to other SGS laboratory facilities according to the analytical method being requested by Walbridge. Gold analyses are routinely performed via fire assay with ICP-OES finish methods. For greater precision and accuracy, samples assaying 10 g/t Au or greater are re-assayed via metallic screen fire assay method or fire assay/gravimetric finish, depending on the amount of sample material remaining available. Samples containing visible gold are submitted directly for analysis by metallic screen fire assay method.

Material collected for metallurgical testing was selected by Wallbridge geologists from individual drill core samples based on their analyzed gold grades and style of mineralization consistent with the broader Bug Lake zone. A total of 180 kilograms of mineralized drill core was collected and submitted to SGS Lakefield Research facility, a division of SGS Canada. SGS Lakefield is the only commercial laboratory that is accredited to ISO Guide 25, supplemented by CAN-P-1579 for mineral analysis.

SGS Natural Resources analytical laboratories operate under a Quality Management System that conforms to the requirements of ISO/IEC 17025. All of SGS’ Canadian analytical sites are accredited by the Standards Council of Canada (SCC) for specific mineral tests listed on the scope of accreditation to the ISO/IEC 17025 standard. ISO/IEC 17025 addresses both the quality management system and the technical aspects of operating a testing laboratory. Physical sample preparation involving accredited test methods as listed on the scope of accreditation may be performed at other sites listed on the SGS Canada Inc – Natural Resources – Minerals group accreditation or at offsite sample preparation laboratories that are monitored regularly for quality control and quality assurance practices, including SGS Canada Inc, Garson, SGS Canada Inc, Val d’Or and SGS Canada Inc, Grand Falls-Windsor.

Qualified Person

The Qualified Person responsible for the technical content of this news release is Francois Chabot, Eng., M.Sc., Manager Technical Studies for Wallbridge.

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Québec’s Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge’s most advanced projects, Fenelon Gold (“Fenelon”) and Martiniere Gold (“Martiniere”) incorporate a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 square kilometre exploration land package in the Northern Abitibi region of Quebec.

Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years.

For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company LimitedBrian Penny, CPA, CMACEOTel: (416) 716-8346Email: bpenny@wallbridgemining.com M: +1 416 716 8346

Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@wallbridgemining.com M: +1 289 819 3012

Cautionary Note Regarding Forward-Looking Information

The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: statements regarding the results of the PEA; the potential future performance of the Common Shares; future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the MRE’s at Fenelon and Martiniere (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling and metallurgical testing; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

Cautionary Notes to United States InvestorsWallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f1619fa3-1fb1-46df-ae99-142e7f53cce6

With its stock down 7.6% over the past three months, it is easy to disregard Antofagasta (LON:ANTO). But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Antofagasta's ROE in this article.

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.

Check out our latest analysis for Antofagasta

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 Antofagasta is:

9.6% = US$1.2b ÷ US$12b (Based on the trailing twelve months to June 2024).

The 'return' is the yearly profit. That means that for every £1 worth of shareholders' equity, the company generated £0.10 in profit.

What Has ROE Got To Do With Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

Antofagasta's Earnings Growth And 9.6% ROE

On the face of it, Antofagasta's ROE is not much to talk about. However, its ROE is similar to the industry average of 9.6%, so we won't completely dismiss the company. Having said that, Antofagasta has shown a modest net income growth of 17% over the past five years. Taking into consideration that the ROE is not particularly high, we reckon that there could also be other factors at play which could be influencing the company's growth. For instance, the company has a low payout ratio or is being managed efficiently.

As a next step, we compared Antofagasta's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 10%.

LSE:ANTO Past Earnings Growth December 18th 2024

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. Doing so will help them establish if the stock's future looks promising or ominous. 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 Antofagasta is trading on a high P/E or a low P/E, relative to its industry.

Is Antofagasta Efficiently Re-investing Its Profits?

Antofagasta has a three-year median payout ratio of 42%, which implies that it retains the remaining 58% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.

Moreover, Antofagasta 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 is expected to keep paying out approximately 49% of its profits over the next three years. As a result, Antofagasta's ROE is not expected to change by much either, which we inferred from the analyst estimate of 10.0% for future ROE.

Conclusion

Overall, we feel that Antofagasta certainly does have some positive factors to consider. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

Southern Copper (SCCO) closed the most recent trading day at $96.74, moving -0.67% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 0.32%.

Shares of the miner witnessed a loss of 4.36% over the previous month, trailing the performance of the Basic Materials sector with its loss of 2.52% and the S&P 500's gain of 3.6%.

Investors will be eagerly watching for the performance of Southern Copper in its upcoming earnings disclosure. On that day, Southern Copper is projected to report earnings of $1.06 per share, which would represent year-over-year growth of 85.96%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.85 billion, indicating a 24.24% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $4.45 per share and a revenue of $11.79 billion, demonstrating changes of +43.09% and +19.11%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.71% lower. Southern Copper is currently a Zacks Rank #3 (Hold).

Looking at valuation, Southern Copper is presently trading at a Forward P/E ratio of 21.9. This signifies no noticeable deviation in comparison to the average Forward P/E of 21.9 for its industry.

It's also important to note that SCCO currently trades at a PEG ratio of 1.52. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Mining – Non Ferrous industry stood at 0.96 at the close of the market yesterday.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 137, which puts it in the bottom 46% of all 250+ industries.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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(Bloomberg) — The world’s top miners BHP Group and Rio Tinto Group will join BlueScope Steel Ltd. to build Australia’s largest electric iron-making furnace, a move they say may speed the decarbonization of steel production.

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