(Bloomberg) — Boliden AB agreed to acquire zinc and copper mines in Portugal and Sweden from Lundin Mining Corp. for as much as $1.52 billion, in a deal that bolsters supplies for its smelters at a time of intensifying global competition for mined ores.

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The acquisition of Neves-Corvo in Portugal and Zinkgruvan in Sweden will almost double Boliden’s zinc concentrates output, while increasing production of copper concentrates by 43%, the Swedish company said Monday in a statement.

Bloomberg reported that Boliden was closing in on a deal to buy the assets last month, as it seeks to secure long-term raw-material supplies for its copper and zinc smelters in Scandinavia. Smelting margins have come under acute strain in recent months, and Boliden said on Monday that buying the mines will deliver an immediate boost to profitability.

“The addition of two cash flow generative zinc and copper mines in Portugal and Sweden has a strong industrial logic as well as a strategic fit,” Boliden Chief Executive Officer Mikael Staffas said in the statement.

Boliden said the upfront cash payment would be financed through a bridge loan. About half of that will be refinanced through a share issue, with the remaining amount taken out via medium and long-term debt financing. The miner expects to complete the transaction by the middle of next year, adding the deal is expected to be immediately earnings accretive.

The assets are in close proximity to Boliden’s existing operations, Citigroup Inc. said in a research note. “That should make the transaction a good strategic fit, and at the same time straightening its backward integration for the smelting business,” the bank said.

Lundin put its Zinkgruvan and Neves-Corvo mines on sale earlier this year as the Vancouver-based company turns its focus to Latin America. The mines are Lundin’s oldest assets and generated about 19% of the company’s revenue last year.

Lundin said it will receive an upfront cash consideration of $1.37 billion upon closing, as well as up to $150 million if certain conditions of the deal are satisfied. The company will use the proceeds from the deal to strengthen its balance sheet and support growth plans in the Vicuna District, an emerging copper and gold area in Argentina and Chile.

Boliden’s shares saw volatile trading as markets opened on Monday, initially opening 3.1% higher before swinging to a loss of as much as 1.7%. The shares were up 1% lower at 330.7 kronor at 09:40 a.m. in Stockholm.

–With assistance from Mark Burton.

(Updates with analyst comment in sixth paragraph, shares in final paragraph.)

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VANCOUVER, BC, Dec. 9, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces today it has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB (OM: BOL) ("Boliden") for up to $1.52 billion in total consideration (the "Transaction"). Unless otherwise stated, all numbers are presented in United States dollars.

Under the terms of the agreement, Lundin Mining will receive upfront cash consideration of $1.37 billion upon closing, based on a cash-free and debt-free enterprise value of $1.3 billion as of an August 31, 2024 lock box date ("Lock-Box"). In addition, Lundin Mining will receive up to $150 million in contingent cash consideration upon satisfaction of certain conditions outlined below. The Transaction is not subject to shareholder approval or any financing conditions.

The proceeds from the Transaction will strengthen the Company's balance sheet and support its growth plans in the Vicuña District.

Jack Lundin, President and CEO, commented "Neves-Corvo and Zinkgruvan have played a significant role in catalyzing the Company to become a multi-asset base metals producer of global scale. I want to thank the teams for their dedication and hard work over the years; the Company would not be where it is today without these two long-life mining operations. We believe these operations will be an excellent strategic fit under Boliden's operatorship, and the employees and local stakeholders will benefit from the new ownership and highly experienced management team.

"The sale will further strengthen our balance sheet to support the Company's growing portfolio in South America and enable management to concentrate our focus in an area which will provide the greatest long-term value for our shareholders. It is an opportune time to optimize our portfolio through this divestiture as we drive towards becoming a top-tier copper-dominant mining company."

Transaction Summary

Boliden has agreed to acquire 100% of the shares of Somincor–Sociedade Mineira de Neves-Corvo, S.A. ("Neves-Corvo") and 100% of the shares of each of Zinkgruvan Mining Aktiebolag and North Atlantic Natural Resources Aktiebolag (together "Zinkgruvan") from subsidiaries of Lundin Mining for up to $1.52 billion in cash, consisting of $1.37 billion in upfront cash consideration at closing and up to $150 million in contingent consideration. Total consideration at closing may also be subject to other customary adjustments in the event of non-permitted leakage from the Lock-Box.

Upfront Consideration

The terms of the agreement incorporate a Lock-Box completion mechanism, with the purchase price based on a cash-free and debt-free enterprise value of $1.3 billion, and assuming a normalized level of working capital. Based on the Lock-Box financial statements as of August 31, 2024, the upfront cash consideration to be paid at closing is $1.37 billion. The upfront cash consideration will also accrue interest at a 5% annual interest rate from August 31, 2024 to closing and is payable to the Company at closing.

Neves-Corvo Contingent Payment

Up to $100 million in contingent payments at Neves-Corvo is tied to underlying copper and zinc prices ("Neves-Corvo Contingent Payment"). Boliden will pay Lundin Mining 60% of the incremental revenue realized in each of the three calendar years between 2025 and 2027 where the average realized price on a semi-annual calendar period exceeds $4.50/lb copper and/or $1.30/lb zinc as per the London Metal Exchange ("LME") reference prices. Incremental revenue is calculated using total payable sales volumes of copper and/or zinc for the semi-annual calendar period and tax affected using Portugal's current corporate income tax rate.

Zinkgruvan Contingent Payment

Up to $50 million in contingent payments at Zinkgruvan is tied to underlying zinc prices ("Zinkgruvan Contingent Payment"). Boliden will pay Lundin 50% of the incremental revenue realized in each of the two calendar years between 2025 and 2026 where the average realized zinc price on an annual calendar year exceeds US$1.40/lb zinc, as per the LME reference prices, provided a minimum annual production of 135 million pounds of payable zinc is achieved. Incremental revenue is calculated using total payable sales volumes of zinc for an annual calendar year period and tax affected using Sweden's current corporate income tax rate. The Zinkgruvan Contingent Payment is subject to a maximum payout of $25 million per calendar year.

Indicative Timeline

The Transaction is anticipated to close in mid-2025, subject to the completion of customary conditions and regulatory approvals, including but not limited to merger control approvals by the EU Commission and approval of the Swedish Inspectorate of Strategic Products under the Swedish FDI Act, and the change of control approval by the Portuguese Directorate-General for Energy and Geology (Direção-Geral de Energia e Geologia) under the Neves-Corvo Concession Contract.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information in this news release is information that Lundin Mining is required to make public under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on December 9, 2024 at 1:00 am EST.

Cautionary Statement on Forward-Looking Information 

Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the completion of the Transaction and the timing thereof; the conditions to close the Transaction; the terms of the contingent payments and expectations related thereto; the expectations for Boliden as a strategic fit and the benefits expected for stakeholders;  the expected benefits of the Transaction for the Company, including the expectation to strengthen the Company's balance sheet and support its growth plans in the Vicuna District; the realization of prospects in the Vicuña district; the identification of additional value creation opportunities; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; anticipated exploration and development activities at the Company's projects; expansion projects and the realization of additional value; the Company's integration of acquisitions and expansions and any anticipated benefits thereof; the Company's ability to become a top tier copper producer; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, zinc, nickel, gold and other metals; anticipated costs; that the conditions to close the Transaction will be satisfied; the ability to achieve goals and identify and realize opportunities; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: the failure to obtain required approvals for the Transaction; global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; volatility and fluctuations in metal and commodity demand and prices; significant reliance on assets in Chile; reputation risks related to negative publicity with respect to the Company or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Josemaria Project; health and safety laws and regulations; risks associated with climate change; risks relating to indebtedness; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; inability to attract and retain highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; project financing risks, liquidity risks and limited financial resources; health and safety risks; compliance with environmental, unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; changing taxation regimes; the inability to effectively compete in the industry; risks associated with acquisitions partnerships; expansions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; regulatory investigations, enforcement, sanctions and/or related or other litigation; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; risks associated with the use of derivatives; risks relating to joint ventures and operations; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; exchange rate fluctuations; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; risks relating to dilution; risks relating to payment of dividends; counterparty and customer concentration risks; activist shareholders and proxy solicitation matters; estimation of asset carrying values; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of significant shareholders; challenges or defects in title; internal controls; risks relating to minor elements contained in concentrate products; the threat associated with outbreaks of viruses and infectious diseases; mining rates and rehabilitation projects; mill shut downs; and other risks and uncertainties, including but not limited to those described in the " Risks and Uncertainties" section of the Company's MD&A for the three months ended March 31, 2024 and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023, which are available on SEDAR+ at www.sedarplus.com under the Company's profile.

All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Lundin Mining Announces Sale of Neves-Corvo and Zinkgruvan for Total Consideration of up to $1.52 Billion (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

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An investment opportunity is unfolding that most investors are completely unaware of…

We are on the brink of a potential global shortage of a critical resource that powers the world’s most important industries…

It is essential to the U.S. military and is vital for manufacturing smartphones, tablets, high-definition TVs, semiconductors, kitchen appliances, solar panels and new cars.

The critical mineral that is so essential to multiple industries is antimony – a shiny grey metalloid with a flaky texture.

Antimony has been used for decades in military applications and is a highly critical element for the defense industry. It is necessary for armor-piercing ammunition, night vision goggles, infrared sensors, bullets, precision optics, explosive formulations, nuclear weapons semiconductors, cables, and batteries.

But with China now accounting for over 60% of global production, the U.S. and European nations are now racing to prevent a potential Chinese monopoly.

Concerns about this supply risk have already sent the price of antimony soaring more than 200% over the past year, with no end in sight.

Currently, just a handful of countries—including China and Russia—produce the majority of the world’s antimony, but there is tremendous investment potential for companies that could bring new supplies online.

Our top pick for the sector is Military Metals Corp. (CSE: MILI, OTCQB: MILIF), a British Columbia-based mineral exploration company that spotted the trend in antimony before others were aware there was even a problem. They have been on an acquisition spree of mines with large historical resources to give them the ability to move quickly in what could be an explosive space.

Potential investors should look at a number of their peers who have seen explosive share price growth over the last few months:

For example, Perpetua Resources (Nasdaq: PPTA) – a U.S.-based explorer and developer of mineral properties including antimony – has shot up 261.3% over the past eight months.  The company is in the process of receiving$1.86 billion in financing from the U.S. government, including the Department of Defense to help with the company’s production of antimony at the Stibnite Gold Project located in Idaho.

Larvotto Resources Ltd. (ASX: LRV) – with mineral resource properties in Australia and New Zealand – has soared an impressive 916.95% since March of this year thanks in large part for its potential to bring new supplies of antimony online.

Military Metals is the new kid on the block with a much lower valuation, but following a recent announcement that it has purchased one of Europe’s largest antimony deposits with a historical resource in Slovakia it is now punching well above its weight.

Perpetua Resources listed above has over 90,000 tons of antimony in the ground with a valuation of close to $700 million whereas Military Metals Corp. will soon have over 60,998 tons of a historical resource of high-grade antimony and has a valuation of just $23million.

The company is now actively working to unlock the value of strategic antimony assets from multiple historical sites and potentially bring new supplies of antimony online at a time when it is desperately needed.

In North America, Military Metals Corps (CSE: MILI, OTCQB: MILIF), West Gore Property spans four exploration licenses covering 585 hectares in Hants County, Nova Scotia at a site that was once Canada’s most prominent antimony mine.

West Gore consists of an underground mine that operated between 1882 and 1939, extracting antimony from as many as seven mining levels.

During World War I, West Gore was Canada’s most prominent antimony mine, processing over 7,500 tons of ore and shipping nearly 400 tons of concentrate overseas for smelting between 1910-1911.

The combination of geology and historical mining data at this property positions West Gore as a unique and promising target for modern exploration.

Map of Military Metals’ West Gore Project Claims

Just recently – in October 2024 – the company announced the addition of key new claims surrounding its West Gore Antimony Project in Nova Scotia that adds an additional 388 hectares to the project, nearly doubling its size and potential.

This acquisition is key because it gives Military Metals complete coverage over the entire mineralized system at West Gore, enabling the company to approach the antimony-gold system in its entirety to unlock future value.

The Three Properties that are part of the recent acquisition in Slovakia offer significant upside potential as one of EU’s largest historical deposits in a publicly traded company. The country also has strong mining infrastructure and a history of being friendly towards mining operations.

Map showing the location of Military Metals Corp.’s properties in Slovakia

Digging deeper into the three properties

Trojarova Antimony Project:

The Trojarova antimony project is located near Pezinok in western Slovakia in an area that was extensively explored during the Soviet era.

The region has a rich mining history going back to the 14th century that includes antimony, gold, iron, and more.

Trojarova hosts a historical resource in category P1 in the Soviet classification system of 2.46 million metric tons at a grade of 2.48% antimony and 0.59 grams per ton gold (using a cut-off grade of 1% antimony), equivalent to 60,998 tons of contained antimony and 46,778 ounces of gold.

At today’s Antimony prices Military Metals has over $2 billion worth of In situ value of Antimony in the ground in their historical 60,998 ton resource at prices of $38,000 a ton spot price.

Tienesgrund Property:

The Tienesgrund property is located near Roznava, a historic mining town in eastern Slovakia. The site features two primary antimony-gold (Sb-Au) veins and saw limited antimony-gold production between 1840-1932.

Here is the mines timeline:1840: First recorded commercial exploitation of antimony veins.

1930s: Mines reopened, producing 1,000 tonnes of concentrate by 1932.

1950s: Underground development work including assessing the property’s tungsten potential

(found in association with antimony-gold)

Recent: Recent work includes sampling of veins on surface (grabs up to 38% antimony and

9.7gpt gold) and a LIDAR survey.

Bear Creek Property:

The Bear Creek property is located just outside the town of Hnilec in eastern Slovakia.

This property features a classic tin vein system with underground workings and historical resources. It has a calculated resource of 863,000 tonnes grading 0.19% tin using the Soviet-style classification of mineral deposits.

The location of these properties combined with the current supply-demand environment for antimony could help open the door to potential EU funding sources as the company advances these projects toward production.

What Makes Antimony so Critically Important to Many NationsThe importance of antimony in the modern world truly cannot be overstated.

Antimony’s importance dates back several decades as it was used in alloys for weapons and tools as early as the Bronze Age and through the Middle Ages.

More recently, antimony played a vital role in World War I as a strengthening component for ammunition and in supporting military communications. In World War II, antimony’s role expanded further, particularly in the production of lead-based alloys for bullets and other ammunition. Additionally in World War II, antimony was given the nickname “Hero Metal”, it was credited with saving countless American troops as an antimony compound was used to fireproof tents and vehicle covers to suppress the spread of flames.

In today’s modern military world, the availability of antimony is crucial for maintaining defense readiness and technological superiority.

The last time antimony was trading at all-time highs was back in World War II.

Modern military applications for antimony include the manufacture of infrared sensors, night vision goggles, armor-piercing bullets, explosive formulations, nuclear weapons, and more.

In short, the U.S. military would be lost without access to consistent supplies of antimony.Military Metals (CSE: MILI, OTCQB: MILIF), is rapidly emerging as a leader in the exploration and discovery of the metals that make a difference in defense technology.

By focusing on critical resources like antimony, the company helps provide the essential materials that strengthen military equipment and infrastructure.

And the company’s acquisition strategy could pay off in a huge way for investors in the months ahead.

In addition to its recent acquisition of more territory in Nova Scotia, Canada, the company also recently expanded its portfolio of mineral resource assets in Slovakia.

In October 2024, the company announced it had purchased the Trojarova Antimony Project, Tienesgrund Antimony project and the Medvedi Tin Project, which are located in Slovakia and contain historical resources. Slovakia is a member of the European Union, which has adopted the Critical Raw Materials Act to support domestic projects for critical metals.

The acquisition of these properties strategically positions them as a leading explorer and potential developer of antimony.

This commitment to becoming a leading explorer of antimony is likely to generate considerable attention as the company’s projects progress in the months ahead as the U.S. military – as well as European nations – continue to search for new supplies.

Chinese Export Restrictions put even Greater Pressure on Antimony SupplyThe recent restrictions placed on the exporting of antimony, which took effect September 15, pose a serious threat to the U.S. and other nations.

Without access to China’s supply, the U.S. and other nations could face significant challenges, which makes bringing new potential supplies online even more important.

“China to limit antimony exports in latest critical mineral curbs.”– CNN, August 15, 2024

This restriction of exports for a critical mineral is something China has done before.

In fact, in 2023 China began implementing exports restrictions for gallium, germanium and graphite in response to the U.S. establishing export controls of its own on advanced semiconductor chips to China.

This combination of declining production from China – along with new export restrictions – as well as increasing demand for antimony worldwide has already sent antimony prices to record highs.

And those prices are expected to climb even higher.

According to expert Chetan Soni at consultancy CRU, “Given we are still at record prices, it’s likely that prices will go even higher with this announcement (regarding export restrictions).”

Soni added that prices could reach as high as $30,000 – up from current levels of roughly $22,500 – as buyers would be looking to secure material for future production.

As of right now current prices of Antimony are trading at over $38,000 a tonne as of Nov 18 2024 surpassing Chetan Sonis predictions of $30,000 back in 2023.

The Bottom Line: Soaring Antimony Prices Have Triggered High Upside OpportunityThere is no question that a high-upside scenario has developed quickly for antimony, a critical mineral needed for a number of vital military and high-tech applications.

With potentially declining production – and a restriction on Chinese exports – prices for antimony have already climbed to record highs, with experts calling for even higher prices in the months ahead.

All of this creates an environment where those companies who offer the potential to bring new supplies of antimony online quickly could see significant increases in valuation.

This has already been seen with companies like U.S.-based Perpetua Resources (Nasdaq: PPTA), which has shot up 261.3% over the past eight months and Australia-based Larvotto Resources Ltd. (ASX: LRV), which is up a staggering 916.95% since March of this year.

Military Metals (CSE: MILI, OTCQB: MILIF), with its acquisition strategy and its growing portfolio of mineral assets in Canada and Slovakia, could become the next company to help investors take advantage of soaring antimony prices and collect potential windfall profits.

Other Resource Companies to Watch

Rio Tinto (NYSE: RIO) is a global mining giant with a finger in just about every pie when it comes to essential resources. From aluminum and copper to diamonds and uranium, this UK-Australian company operates in 35 countries, digging up the raw materials that make modern life possible. But it's not just their size and scope that makes them stand out; Rio Tinto is also committed to doing things the right way.

They're investing heavily in innovation and sustainable mining practices. This means they're not just focused on extracting resources; they're also working to minimize their environmental impact and rehabilitate the land they mine. Think renewable energy, cutting-edge technology, and a commitment to leaving things better than they found them. This forward-thinking approach is good for the planet and makes good business sense, ensuring the long-term viability of their operations.

Rio Tinto sees sustainability as a core part of its business strategy, not just a PR move. They're setting a high bar for the mining industry, showing that it's possible to be both profitable and responsible. By embedding sustainable practices throughout their operations, they're creating value for their shareholders while minimizing their environmental footprint. This commitment to doing good while doing well makes them a leader in the global mining industry.

BHP Group’s (NYSE:BHP) is a global mining powerhouse with a presence on several continents. From the massive iron ore mines in Australia to copper and coal operations in the Americas, BHP digs up the essential resources that fuel our modern world. This diverse portfolio and global reach make them a key player in meeting the world's growing demand for raw materials.

But BHP is not just about extracting resources; they're also committed to doing it responsibly. They've set ambitious targets to shrink their environmental footprint, investing in technologies to reduce greenhouse gas emissions and improve water efficiency. They also work closely with local communities to minimize the impact of their operations. This dedication to sustainability has earned them a spot as a leader on the Dow Jones Sustainability Index.

In a world where consumers and investors are increasingly focused on ethical and environmentally responsible practices, BHP's commitment to sustainability gives them a competitive edge. By prioritizing responsible mining, they're not just digging up resources; they're building a sustainable future. This commitment to doing good while doing well sets them apart in the global mining industry.

Albemarle Corporation (NYSE:ALB), headquartered in Charlotte, North Carolina, is a global specialty chemicals company with a rich history and a strong focus on innovation. While they might not be a household name, their products touch many aspects of our lives, from the batteries in our smartphones to the medicines we take. Albemarle operates across three main segments: Lithium, Bromine Specialties, and Catalysts.

Interestingly, Albemarle's roots go all the way back to 1887 when they started as a paper manufacturing company. Over the years, they strategically diversified, evolving into the global specialty chemicals leader they are today. A major turning point was their merger with Ethyl Corporation in 1994, which significantly expanded their product portfolio and market reach.

Today, Albemarle is perhaps best known as the world's largest lithium producer. With the rise of electric vehicles and increasing demand for lithium-ion batteries, Albemarle is at the forefront of this rapidly growing market. They've been investing heavily in expanding their lithium production capacity, including building a new lithium hydroxide plant in North Carolina. This strategic focus on lithium positions Albemarle as a key player in the transition to cleaner energy and a more sustainable future.

SQM (NYSE: SQM), a Chilean chemical company, is a major player in the lithium market. They're one of the world's leading producers of this crucial element, which is used in everything from electric vehicle batteries and smartphones to increasingly important military technologies. Think advanced communication systems, unmanned vehicles, and drones – all powered by lithium-ion batteries. SQM's vast lithium reserves in the Atacama Desert and their impressive production capacity make them a critical link in the global lithium supply chain.

Why does this matter? For countries like the United States, which rely heavily on advanced technology for their defense, having a reliable source of lithium is crucial. By sourcing lithium from SQM, nations can reduce their dependence on potentially unstable or unfriendly countries, ensuring a steady supply of this essential material for their defense industries. This helps avoid potential supply chain disruptions and ensures that militaries have the resources they need to produce the equipment and weapons systems necessary for national security.

SQM also stands out for its commitment to sustainable lithium extraction. In a world increasingly focused on responsible sourcing and minimizing environmental impact, SQM's efforts to reduce their footprint in the Atacama Desert are essential. This commitment ensures that the lithium used in defense applications is produced in a way that is both environmentally and socially responsible.

Perpetua Resources (NASDAQ:PPTA) is an American company focused on developing the Stibnite Gold Project in Idaho, a project with the potential to significantly boost domestic production of both gold and antimony. Antimony is a critical mineral used in a wide range of applications, from flame retardants and batteries to ammunition and military equipment. Currently, the US relies heavily on imports for its antimony supply, making this project strategically important for strengthening domestic production and reducing reliance on foreign sources.

The Stibnite Gold Project has garnered strong support from the US government, including significant funding from the Department of Defense. This highlights the project's importance for national security and its potential to bolster the domestic supply chain for critical minerals. The project is expected to be a major source of gold and the only domestic producer of antimony, contributing to economic growth and job creation in Idaho while also ensuring a more secure and reliable supply of these essential resources.

Beyond its economic and strategic benefits, Perpetua Resources is committed to responsible mining and environmental stewardship. The company plans to revitalize a historic mining area in Idaho, employing modern mining practices to minimize environmental impact and restore the site after mining is complete. This commitment to sustainability aligns with the growing emphasis on responsible sourcing and environmentally conscious practices in the mining industry.

Cleveland-Cliffs Inc. (NYSE:CLF) is a major force in the American steel industry and a vital partner to the US defense sector. As North America's largest producer of flat-rolled steel, they provide the essential materials used to build everything from military vehicles and ships to aircraft and critical infrastructure. This makes them a crucial link in the defense supply chain, ensuring that the US military has the resources it needs to maintain its readiness and protect national security.

One of the key reasons Cleveland-Cliffs is so important to US defense is that they provide a domestic source of steel. This reduces reliance on foreign suppliers, which can be vulnerable to disruptions during times of conflict or global instability. By sourcing steel from Cleveland-Cliffs, the US can ensure a stable and reliable supply of this critical material, strengthening the resilience of the defense industrial base.

Furthermore, Cleveland-Cliffs is committed to sustainable practices, including responsible mining and the use of renewable energy. This is increasingly important in the defense sector, as there's a growing emphasis on minimizing environmental impact and promoting responsible resource management. Cleveland-Cliffs' dedication to sustainability aligns with these goals, contributing to a more environmentally conscious and resilient defense industry.

Southern Copper Corporation (NYSE: SCCO)  is a major player in the copper industry, with extensive mining operations in Mexico and Peru. Copper is essential for a wide range of industrial applications, including many within the defense sector. It's used in everything from ammunition and electrical wiring to electronic components found in various military equipment. This makes Southern Copper a crucial partner in meeting the copper needs of the US defense industry.

Having a reliable and consistent supply of copper is vital for the production of critical defense equipment and ensuring the US military's operational readiness. Southern Copper's large production capacity and focus on efficiency make them a dependable supplier, strengthening the stability and resilience of the defense supply chain.

But Southern Copper is more than just a copper producer. They are also committed to sustainable mining practices and community development. They actively work to minimize their environmental impact and engage with local communities, promoting responsible sourcing of this important resource. This commitment to ethical and sustainable practices enhances the integrity of the defense supply chain and contributes to responsible resource management.

Cameco Corp (NYSE: CCJ) isn't just a uranium mining company; they're a key player in global energy security. As a leading provider of uranium fuel, they have a hand in powering homes and businesses around the world. But their impact goes beyond keeping the lights on. Cameco's uranium also plays a vital role in national defense, fueling the nuclear reactors that power submarines and aircraft carriers. This makes them a crucial partner in ensuring the operational readiness of the US Navy and its ability to protect national interests.

What sets Cameco apart is their commitment to responsible mining. They operate in Canada and the United States, adhering to strict safety and environmental regulations. This focus on sustainability ensures that they extract uranium in a way that minimizes their environmental impact and protects the health and safety of their workers and surrounding communities. By prioritizing responsible practices, Cameco is helping to ensure the long-term viability of the nuclear industry and its role in providing clean and reliable energy.

With the growing focus on reducing carbon emissions and achieving energy independence, Cameco's role is becoming increasingly important. They are not only providing the fuel for clean energy generation but also contributing to national security by supporting the US nuclear deterrent. As the world seeks reliable and sustainable energy solutions, Cameco is well-positioned to play a crucial role in shaping the future of the nuclear industry.

Teck Resources Limited (NYSE:TECK) is a major global mining company headquartered in Vancouver, Canada. They have a diverse portfolio of mining operations across North and South America, producing a variety of essential metals and commodities, including zinc, copper, coal, lead, and silver. This makes them a significant contributor to the global supply of these important materials, which are used in everything from construction and manufacturing to technology and energy.

Teck is particularly important in the zinc market, where they hold a strong position as the world's second-largest producer. Zinc is a versatile metal used in numerous applications, including the production of galvanized steel, batteries, and chemicals. This makes Teck's zinc production vital for supporting key industries and driving economic growth.

Looking ahead, Teck's operations are strategically significant due to the increasing demand for battery metals. Zinc plays a crucial role in various battery types, including those used in electric vehicles. As the world transitions towards cleaner energy solutions and electric vehicles become more prevalent, Teck's zinc production will be essential in meeting the growing needs of this market. This positions the company as a key contributor to a more sustainable future.

By. Tom Kool

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Forward-Looking Statements

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• Ucore's proposed Louisiana rare earth refining facility is located within the England Airpark & Community, a Foreign Trade Zone.

• Foreign Trade Zones have the potential to mitigate the impact of proposed tariffs on the import and export of rare earth products.

Halifax, Nova Scotia–(Newsfile Corp. – December 4, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), noting the recent news about potentially increased tariffs, comments on the value of its new Strategic Metals Complex (SMC) in the favorable location of England Airpark Foreign Trade Zone (FTZ) for affordable supply of rare earths to U.S. consumers.

During the recent election campaign, and following the Republican victory, President-elect Trump emphasized a return to tariffs and other trade measures as a way to encourage the reshoring of American manufacturing. Key proposals include heightened tariffs on Chinese and other foreign-made goods, especially in critical materials supply chains.

The U.S. Department of Defense (DoD) and other key federal agencies have identified rare earth elements as critical to national security, powering technologies from advanced fighter jets to renewable energy systems. DoD, in particular, is required to begin sourcing rare earths from non-Chinese sources. However, over 80% of REE processing currently takes place in China, leaving the U.S. vulnerable to supply chain disruptions.

Ucore, which has located its first SMC within the England Airpark FTZ in Alexandria, Louisiana, is well-positioned to assist customers in developing secure rare earth supply chains that comply with DoD acquisition regulations and have favorable import status. FTZs are designated geographic areas where commercial merchandise, both domestic and foreign, is treated as if it were outside the U.S. commerce for Customs purposes. This structure can potentially provide tariff and tax relief, helping American businesses stay competitive on the import of foreign inputs and on exporting finished products.

Ucore encourages manufacturers seeking rare earth solutions to connect with us to determine how this uniquely advantageous import and export zone can reduce tariff costs, encourage sustainable supply chains, and support the revitalization of the domestic REE supply chain. This includes new manufacturers and technology operations, longtime rare earth magnet users, and even the most established supply chain managers in Europe, Japan and South Korea, who may all see a reduction in the cost and risk of operations.

Developing Louisiana SMC in Alexandria, Louisiana

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/232445_3acade1a14df7af4_001full.jpg

"Being located in Louisiana, where there is a strong Republican delegation, further highlights the advantages and opportune location to launch Ucore's REE refining and separation in the U.S.," stated Pat Ryan, CEO of Ucore. "The foreign trade zone status provided by our partner, the England Airpark & Community, is unique as it allows a competitive structure by reducing tariff burdens on the necessary foreign inputs and allowing a seamless avenue to service downstream customers with exported finished product."

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. The details of the legislation by which tariffs are implemented can potentially impact the effectiveness of the protections afforded by Foreign Trade Zones. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

Regarding any disclosure in the press release above about the US Department of Defense or the Government of Canada Programs and the expected successful progress and resulting milestone payments from these Programs, the Company has assumed that the Programs (including each of their milestones) will be completed satisfactorily. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2023 (filed on SEDAR on November 20, 2023) (www.sedarplus.ca) as well as the risks described below.

Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

CONTACTS

Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.

For additional information, please contact:

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232445

The Canadian market has shown resilience, bolstered by easing monetary policies and strong performance in key sectors like financials and materials. Amid these positive trends, penny stocks remain a relevant investment area for those looking to explore opportunities beyond established companies. While the term ‘penny stock’ might seem outdated, it still points to smaller or newer companies that can offer significant value when backed by solid financials.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Alvopetro Energy (TSXV:ALV)	CA$4.35	CA$157.09M	★★★★★★
Amerigo Resources (TSX:ARG)	CA$1.68	CA$280.2M	★★★★★☆
Findev (TSXV:FDI)	CA$0.43	CA$12.46M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.35	CA$112.45M	★★★★★★
PetroTal (TSX:TAL)	CA$0.63	CA$565.76M	★★★★★★
Mandalay Resources (TSX:MND)	CA$4.21	CA$347.6M	★★★★★★
Foraco International (TSX:FAR)	CA$2.40	CA$210.78M	★★★★★☆
Silvercorp Metals (TSX:SVM)	CA$4.39	CA$981.2M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★
Winshear Gold (TSXV:WINS)	CA$0.155	CA$5.03M	★★★★★★

Click here to see the full list of 916 stocks from our TSX Penny Stocks screener.

Let’s uncover some gems from our specialized screener.

SOL Global Investments

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

Overview: SOL Global Investments Corp. is a private equity firm focusing on growth capital for small and mid-sized businesses, with a market cap of CA$11.98 million.

Operations: The company’s revenue segment includes Pharmaceuticals, which reported CA$-38.51 million.

Market Cap: CA$11.98M

SOL Global Investments Corp., with a market cap of CA$11.98 million, is pre-revenue and unprofitable, reporting a net loss of CA$2.99 million for Q3 2024. Despite high volatility and negative return on equity, the company has more cash than debt and sufficient short-term assets to cover liabilities. Recent private placements raised CA$3.6 million through the issuance of units priced at CA$0.2 each, including warrants exercisable at CA$0.3 per share over two years, reflecting efforts to bolster financial stability amidst ongoing challenges in achieving profitability or significant revenue growth.

• Click here and access our complete financial health analysis report to understand the dynamics of SOL Global Investments.

• Gain insights into SOL Global Investments’ past trends and performance with our report on the company’s historical track record.

CNSX:SOL Financial Position Analysis as at Dec 2024Clean Air Metals

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

Overview: Clean Air Metals Inc. is a Canadian exploration company focused on identifying, acquiring, exploring, and developing mineral properties, with a market cap of CA$12.78 million.

Operations: Clean Air Metals Inc. does not currently report any revenue segments.

Market Cap: CA$12.78M

Clean Air Metals Inc., with a market cap of CA$12.78 million, is a pre-revenue exploration company focusing on its Thunder Bay North Project. Recent announcements highlight promising survey results suggesting potential extensions of high-grade mineralization at the Escape conduit. Despite being debt-free and having short-term assets exceeding liabilities, the company faces challenges with less than a year of cash runway and increased share dilution over the past year. Management’s limited experience and heightened stock volatility present additional risks, but ongoing exploration efforts aim to enhance resource estimates and develop high-grade mining strategies.

• Navigate through the intricacies of Clean Air Metals with our comprehensive balance sheet health report here.

• Understand Clean Air Metals’ track record by examining our performance history report.

TSXV:AIR Debt to Equity History and Analysis as at Dec 2024Lara Exploration

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

Overview: Lara Exploration Ltd., with a market cap of CA$69.21 million, is involved in the acquisition, exploration, development, and evaluation of mineral properties in Brazil, Peru, and Chile through its subsidiaries.

Operations: Lara Exploration Ltd. does not report any revenue segments.

Market Cap: CA$69.21M

Lara Exploration Ltd., with a market cap of CA$69.21 million, is a pre-revenue company engaged in mineral exploration in South America. Recent earnings showed improvement, with net income reported for the third quarter and nine months ending September 2024. The company’s Planalto Copper-Gold Project in Brazil has revealed significant mineral resources, indicating potential for future development. However, Lara faces financial challenges with less than a year of cash runway and recent shareholder dilution. Despite being debt-free and having experienced management and board members, its unprofitability poses risks to investors seeking stability.

• Jump into the full analysis health report here for a deeper understanding of Lara Exploration.

• Evaluate Lara Exploration’s historical performance by accessing our past performance report.

TSXV:LRA Debt to Equity History and Analysis as at Dec 2024Where To Now?

• Explore the 916 names from our TSX Penny Stocks screener here.

• Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks.

• Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage.

Searching for a Fresh Perspective?

• Explore high-performing small cap companies that haven’t yet garnered significant analyst attention.

• Jump on the AI train with fast growing tech companies forging a new era of innovation.

• Find companies with promising cash flow potential yet trading below their fair value.

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 CNSX:SOL TSXV:AIR and TSXV:LRA.

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

FMC Corporation (NYSE:FMC), might not be a large cap stock, but it saw significant share price movement during recent months on the NYSE, rising to highs of US$66.62 and falling to the lows of US$54.39. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether FMC's current trading price of US$59.38 reflective of the actual value of the mid-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at FMC’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change.

See our latest analysis for FMC

What's The Opportunity In FMC?

Great news for investors – FMC is still trading at a fairly cheap price according to our price multiple model, where we compare the company's price-to-earnings ratio to the industry average. We’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 4.86x is currently well-below the industry average of 23.3x, meaning that it is trading at a cheaper price relative to its peers. Another thing to keep in mind is that FMC’s share price is quite stable relative to the rest of the market, as indicated by its low beta. This means that if you believe the current share price should move towards its industry peers, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again.

What kind of growth will FMC generate?NYSE:FMC Earnings and Revenue Growth December 3rd 2024

Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Though in the case of FMC, it is expected to deliver a highly negative earnings growth in the next few years, which doesn’t help build up its investment thesis. It appears that risk of future uncertainty is high, at least in the near term.

What This Means For You

Are you a shareholder? Although FMC is currently trading below the industry PE ratio, the negative profit outlook does bring on some uncertainty, which equates to higher risk. Consider whether you want to increase your portfolio exposure to FMC, or whether diversifying into another stock may be a better move for your total risk and return.

Are you a potential investor? If you’ve been keeping tabs on FMC for some time, but hesitant on making the leap, we recommend you research further into the stock. Given its current price multiple, now is a great time to make a decision. But keep in mind the risks that come with negative growth prospects in the future.

So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. Case in point: We've spotted 3 warning signs for FMC you should be mindful of and 2 of these are a bit unpleasant.

If you are no longer interested in FMC, you can use our free platform to see our list of over 50 other stocks with a high growth potential.

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.

A little-known metal called Antimony rallied 300% this year, overtaking gold, silver, and even Bitcoin.

And there is something that the algorithm gods haven’t noticed.

You see, Western powers have embarked on a $100 billion spending spree to restock their armories.

Cruise missiles, artillery shells, javelins, bullets, and armored vehicles. They ALL contain antimony, and the worst news is that the U.S. doesn’t produce an ounce of it.

This huge price spike that followed China’s decision to cut antimony supply to the U.S. this summer was the final wake-up call, and under Trump, the U.S. will no longer stand idle.

Following the rally in gold earlier this year, gold miners are the first to pick up the slack as Western governments are backing billions of dollars in loans for the world’s most promising new sources of antimony supply.

Consider Australia’s Larvotto, which boasts the country’s largest antimony deposit and owns the Hillgrove gold-antimony project near Armidale, New South Wales. Year-to-date, the stock is up almost 600% since the start of 2024.

And it’s newcomers like Military Metals Corp. (CSE:MILI; OTCQB:MILIF) that could be the next big winners.

Reviving World-Class Antimony Properties 

Military Metals has acquired two of the top ten Antimony projects in the world and is rapidly bringing onstream a new source of antimony supply.

One of their most significant acquisitions is the Trojarova project in Slovakia.

This historic antimony deposit, dating back to the Cold War, holds an estimated 60,998.4 tons of antimony – an in situ resource now valued at an astounding $2 billion.

Source: Military Metals Corp. 

Discovered in the 1950s and explored further in the 80s and 90s, Trojarova's development was suddenly halted as the Cold War ended and antimony's strategic importance faded.

But the world has changed.

Geopolitical instability is the new normal, and with NATO countries spending tens of billions of dollars to re-stock their depleted arsenals, the demand for antimony is peaking.

Military Metals Corp. CEO Scott Eldridge believes the richest part of the deposit remains untouched.

For Slovakia, reviving Trojarova is a golden opportunity to become a key player in the European critical metals landscape. With tensions escalating with Russia and China, securing domestic antimony sources is crucial. Trojarova could be the solution, providing Slovakia with a strategic advantage and strengthening its position within the European Union.

Slovakia's existing mining infrastructure aligns perfectly with the EU's Critical Raw Materials Act. This opens doors for potential EU funding, including potential grants, further incentivizing Trojarova's development and positioning Military Metals Corp. as a vital partner in Europe's quest for critical mineral security.

But Military Metals (CSE:MILI; OTCQB:MILIF) isn’t concentrating all of its effects on a single continent: it’s also making huge moves back in North America, in Canada’s famous WWI antimony mine in Nova Scotia.

The redevelopment of the West Gore mine represents more than just a business venture; it’s a strategic initiative to bolster North America’s supply of antimony, a mineral deemed essential for national security.

The West Gore Antimony Project, recently acquired by Military Metals Corp., holds impressive historical resources, including drilling results of over 7 meters grading 10.6 g/t gold and 3.4% antimony. Building on this legacy, the company took another significant step on October 24, 2024, signing an LOI to acquire additional claims flanking West Gore to secure coverage over the entire mineralized system.

Is This The World’s Most Undervalued Antimony Pure-Play?

Military Metals Corp. is valued at only $12 million right now; but its new play in Slovakia is valued at $2 billion in situ of ore at today’s Antimony spot prices. And that’s only one of its new antimony acquisitions. When you add the potential of West Gore in Nova Scotia, valuations could get even more attractive.

This isn’t just speculation, the U.S. government has already started investing heavily in securing domestic sources of critical minerals, and is pushing to bring the production and refining of critical metals such as antimony back to North America. With billions of dollars being allocated to secure domestic mineral supplies, companies like Military Metals Corp. stand to gain substantial financial support.

Here are 5 reasons to keep an eye on Military Metals (CSE:MILI; OTCQB:MILIF)

Antimony prices have surged nearly 300% in 2024, rising from $11,000 per ton to over $40,000 per ton, with forecasts predicting $50,000+ per ton in 2025.

Rising Demand: The global push to replenish military stockpiles and advance green technologies is driving unprecedented demand for Antimony.

Military metals has aggressively acquired world-class antimony properties in Europe and North America, turning it into a potential key supplier to both NATO and North American defense industries.

Military Metals currently has a market cap of just $12 million, while it’s sitting on properties that could be worth more than $2 billion In situ at today’s Antimony prices.

Western governments are fast-tracking antimony mine developments and have been backing billion-dollar loans for similar mining projects.

 

Other resource companies to keep an eye  on:

Piedmont Lithium (NASDAQ: PLL)

Piedmont Lithium is an American company working to become a major player in the electric vehicle battery industry. They're doing this by producing lithium hydroxide, a key ingredient in these batteries, right here in the US.

Why is this so important? Well, currently, the US relies heavily on imports for its lithium supply. This can be risky, as any disruptions to the global supply chain could affect the production of things like electric vehicles and even defense technologies like drones and communication systems. Piedmont Lithium wants to change that by providing a reliable, domestic source of lithium.

Their main operations are located in North Carolina, in an area known for its lithium deposits. What's really great about Piedmont Lithium is their commitment to doing things the right way. They are focused on responsible mining practices that are good for both the environment and the local community. This means they are working to minimize their impact on the environment and ensure their operations benefit the people in the area.

In short, Piedmont Lithium is working to strengthen the US battery industry, reduce reliance on foreign lithium, and do so in a way that is environmentally and socially responsible.

Lithium Americas (NYSE: LAC)

Lithium Americas is all about bringing more lithium production to the Americas. They're working on lithium projects in the United States, with a big focus on their Thacker Pass project in Nevada. This project has the potential to be a major source of lithium for North America, which is a big deal because lithium is essential for electric car batteries and renewable energy storage.

What makes Lithium Americas stand out is their commitment to doing things the right way. They're not just focused on digging up lithium; they're also focused on protecting the environment and working closely with local communities. They want to make sure their operations are sustainable and benefit everyone involved.

By producing lithium in North America, Lithium Americas is helping to create a more reliable and secure supply of this critical mineral. This is important because it reduces our dependence on lithium from other parts of the world and supports the growth of clean energy technologies.

Nucor (NYSE: NUE)

Nucor  is a leading steel producer in the United States, and they're doing things differently. They're known for using a modern technology called electric arc furnaces, which allows them to create high-quality steel from recycled scrap metal. This not only makes them a leader in sustainable manufacturing but also reduces their environmental impact.

Nucor produces a wide variety of steel products used in many industries, from the cars we drive to the buildings we live and work in. This makes them a crucial player in the U.S. economy and ensures a reliable domestic supply of steel for essential infrastructure and defense needs.

One of the things that sets Nucor apart is its dedication to sustainability. By using recycled materials and innovative technology, they are minimizing their environmental footprint and contributing to a greener future. This commitment to responsible manufacturing makes them a valuable asset to both the economy and the environment.

Vale S.A. (NYSE: VALE)

Vale S.A. is a global mining giant and a major player in the production of iron ore and nickel. These materials are essential for a wide range of industries, from the cars we drive to the buildings we construct. In particular, nickel is crucial for high-performance applications, including those in the defense sector.

Vale's operations span the globe, with key sites in Brazil, Canada, and beyond. This makes them a vital part of the global supply chain for these important resources. By providing a reliable source of iron ore and nickel, Vale contributes to the manufacturing of critical equipment, infrastructure, and advanced technologies, including those used for national defense.

Beyond its size and production capacity, Vale stands out for its commitment to responsible mining. They are actively working to reduce their environmental impact, protect biodiversity, and support the communities where they operate. This dedication to sustainability ensures that the resources they provide are sourced ethically and with minimal environmental disruption, which is essential for the long-term health of our planet and industries that rely on their products.

Uranium Energy Corp (NYSE American: UEC)

Uranium Energy Corp  is an American company focused on uranium mining. They operate primarily in Texas, Wyoming, and New Mexico, using a technique called in-situ recovery (ISR). This method is considered more environmentally friendly than traditional uranium mining, as it involves less disruption to the land.

Why is this company important? Well, they're playing a key role in reviving the uranium mining industry in the United States. For both energy and national security reasons, it's becoming increasingly important for the US to have its own source of uranium. Uranium Energy Corp is helping to make that happen in a way that is more sustainable and has less impact on the environment.

Another important aspect is that by producing uranium domestically, Uranium Energy Corp helps reduce reliance on foreign sources. This is crucial for national security because it ensures the US has a steady supply of uranium for its nuclear power needs and defense purposes, without having to rely on other countries.

Reliance Steel & Aluminum (NYSE: RS)

Reliance Steel & Aluminum is a major player in the metals industry. They don't just provide metal, they offer a whole range of services, from processing to distribution, making them a one-stop shop for businesses needing metal products. This is especially valuable for industries like aerospace and defense, where specialized metals are needed for things like aircraft and weapons systems.

With a vast network of service centers across North America, Reliance Steel & Aluminum ensures that its customers, including defense contractors, get the materials they need, when they need them. This reliability is crucial for keeping important defense projects on track and ensuring that the US military has the equipment it needs to operate effectively.

But Reliance Steel & Aluminum goes beyond just delivering metal. They also offer services that help their customers save time and money. They can cut, shape, and machine metal to exact specifications, which streamlines the manufacturing process for defense contractors and helps keep costs down.

By providing these essential services, Reliance Steel & Aluminum plays a critical role in supporting the US military and ensuring its readiness. They are a key partner in strengthening national security through their reliable supply chain and value-added services.

Compass Minerals International (NYSE: CMP) is a leading provider of essential minerals that touch various aspects of our daily lives. While they are well-known for their salt products, used to de-ice roads in winter and soften water in our homes, Compass Minerals plays a much broader role in various industries. Their magnesium chloride is used in dust control and agriculture, while their sulfate of potash serves as a valuable fertilizer ingredient. This diverse product portfolio highlights their commitment to providing essential resources for a variety of applications, contributing to infrastructure safety, agricultural productivity, and industrial processes.

What truly sets Compass Minerals apart is their forward-thinking approach to sustainability and innovation. Recognizing the growing importance of lithium in the transition to a cleaner energy future, they are strategically positioning themselves as a key player in the lithium market. Their focus on sustainable lithium extraction from brine resources, particularly at their Great Salt Lake facility in Utah, demonstrates their commitment to responsible sourcing and environmental stewardship. This initiative not only aligns with the increasing demand for electric vehicles and battery technology but also showcases their dedication to minimizing their environmental footprint while contributing to a more sustainable global economy.

Compass Minerals' commitment to sustainable practices extends beyond their lithium operations. They are actively engaged in reducing their environmental impact across all their operations by implementing water conservation measures, reducing greenhouse gas emissions, and promoting responsible land management.

By embracing innovation and investing in sustainable technologies, Compass Minerals is demonstrating its commitment to long-term growth and environmental responsibility. This approach ensures that they not only meet the current needs of various industries but also contribute to a more sustainable future for generations to come.

FMC Corporation (NYSE: FMC) is a global agricultural sciences company dedicated to helping farmers nourish the world. They develop and deliver innovative solutions to growers around the globe, focusing on crop protection, plant health, and professional pest and turf management. FMC's products and technologies help farmers increase yields, improve crop quality, and combat pests and diseases, ultimately contributing to a more sustainable and secure food supply.

While FMC may not be involved in traditional mining activities, they have a significant stake in the lithium market. Lithium is a critical component in rechargeable batteries, which are essential for electric vehicles, portable electronics, and renewable energy storage. FMC's lithium business, which they divested in 2018, played a crucial role in the development of the lithium industry. This history highlights their commitment to innovation and their involvement in key sectors driving technological advancements and sustainable solutions.

FMC's dedication to sustainability is evident in their agricultural practices. They are committed to developing products and technologies that minimize environmental impact while maximizing crop production. This includes a focus on integrated pest management solutions, which reduce reliance on traditional pesticides, and the development of biological products that promote plant health and soil fertility. By promoting sustainable agricultural practices, FMC is helping to address global food security challenges while minimizing the environmental footprint of agriculture.

By. Josh Owens

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. The forward-looking statements in this publication are based on current expectations and assumptions about future events, geopolitical developments, trade policies, market conditions, the company’s strategic initiatives to address the critical shortage of antimony, and current expectations, estimates, and projections about the industry and markets in which the company operates.  Factors that could change or prevent these statements from coming to fruition include, but are not limited to, the potential impact of the upcoming U.S. elections on various industries and specific companies, changes in government policies, market conditions, regulatory developments, geopolitical events and the company’s ability to successfully acquire and develop new antimony resources and fluctuations in antimony prices. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

DISCLAIMERS

This communication is for entertainment purposes only. Never invest purely based on our communication. We have not been compensated by the companies mentioned in this article. While the opinions expressed in this article are based on information believed to be accurate and reliable, such information in our communications and on our website has not been independently verified and is not guaranteed to be correct. The content of this article is based solely on our opinions which are based on very limited analysis, and we are not professional analysts or advisors.

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NOT AN INVESTMENT ADVISOR. Oilprice.com is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. You should not treat any opinion expressed herein as an inducement to make a particular investment or to follow a particular strategy, but only as an expression of opinion. The opinions expressed herein do not consider the suitability of any investment with your particular objectives or risk tolerance. Investments or strategies mentioned in this article and on our website may not be suitable for you and are not intended as recommendations.

ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making any investment. This communication should not be used as a basis for making any investment in any securities. Past performance is not indicative of future results.

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Read this article on OilPrice.com

BHP Group is a high-dividend payer that might be of interest to income investors. BHP stock currently pays a 5.5% yearly dividend and has strong support around the 50 level. One way to take ownership of a stock for less than the current price is via a cash-secured put option trade.

Halifax, Nova Scotia–(Newsfile Corp. – December 3, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") announces that the Company intends to extend the term of a total of 7,055,795 common share purchase warrants (the "Warrants"). The Warrants were originally issued pursuant to a non-brokered private placement of the Company, which closed on December 22, 2022. Each Warrant is exercisable at a strike price of $0.85, with an original 24-month term. The Company intends to extend the expiry date for these Warrants by 12 months, and accordingly, the new, proposed expiry date for the Warrants will be December 22, 2025.

All other terms and conditions of the Warrants will remain unchanged. The extension of the term of the Warrants is subject to the acceptance of the TSX Venture Exchange (the "TSXV").

Orca Holdings, LLC holds 1,785,000 of the Warrants and is wholly-owned by Mr. Randy Johnson, a member of Ucore's Board of Directors and an insider of Ucore. Therefore, the proposed extension of the term of the Warrants, as described in this news release, is considered to be a related party transaction within the meaning of Multilateral Instrument 61-01 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Warrant extension is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 since neither the fair market value of the amended securities, nor the consideration paid, insofar as it involves interested parties, exceeds 25% of the Company's market capitalization.

The above-described transaction was reviewed and unanimously approved by the Company's Board of Directors, with Mr. Johnson declaring his conflict and abstaining from the Board of Directors' deliberations. No special committee was created to review and approve the proposed extension to the term of the Warrants.

The Company also announces that it has entered into a marketing and consulting agreement (the "Marketing Agreement") with an arm's-length marketing firm, Outside the Box Capital Inc. ("OTBC") of Oakville, Ontario, to provide marketing consulting and investor relations services, including marketing services through social media channels and online media distribution.

In connection with the Marketing Agreement, which has commenced for an initial term of six months ending on April 28, 2025, the Company has paid OTBC a cash fee of $150,000 plus applicable taxes. The Agreement, dated October 22, 2024, can be terminated early by mutual consent of the parties. OTBC has no shares of the Company as of the date hereof and has no direct relationship with the Company other than as set out in this press release.

The Company's engagement with OTBC is another step in its efforts to enhance communication with the current investor community and expand visibility to a greater audience. OTBC specializes in leveraging various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news. The engagement of OTBC, as contemplated in the Marketing Agreement and summarized above, remains subject to TSXV approval.

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare earth and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska. In the longer-term, Ucore aims to develop its 100%-controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs (generally), see the risk disclosure in the Company's MD&A for Q3-2024 (filed on SEDAR on November 18, 2024) (www.sedarplus.ca) as well as the risks described below.

Regarding any disclosure above about the anticipated extension relating to the Warrants and the engagement of OTBC, the Company has assumed that the extension and the engagement will be accepted by the TSXV. Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

For additional information, please contact:

Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232379

/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. 2, 2024 /CNW/ – Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to announce that due to continued strong demand, the Company has increased the non-brokered private placement offering (the "Offering") to up to $782,500 in aggregate gross proceeds. All other terms of the Offering will remain the same as originally announced in the Company's News Release dated November 12, 2024.

The Company further announces that it has closed a second tranche of the non-brokered private placement through the issuance of 1,800,000 Units at a subscription price of $0.05 per Unit for aggregate gross proceeds to the Company of $90,000.

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 2, 2027 for this tranche.

Finder's fees of $6,650 are payable in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 133,000 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 2, 2027 for this tranche.

No insiders participated in this 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 other early-stage exploration work in Argentina as well as the necessary 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 2, 2025 for this 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 2024.

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.

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

SOURCE Golden Arrow Resources Corporation

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/02/c8204.html

Amazon (AMZN)

Thousands of Amazon staff in more than 20 countries are set to protest or strike on Black Friday in a push for better workers' rights.

The international strike action is taking place on one of the busiest shopping days of the year and has been coordinated by the Make Amazon Pay campaign.

In addition to the drive to improve workers' rights at Amazon, the strikes and protests are also to highlight the US retailer's environmental impact.

More than 80 organisations are part of the Make Amazon Pay campaign and since 2020, it has organised four days of global action on Black Friday.

Read more: FTSE 100 LIVE: Markets muted as retailers brace for Black Friday boost

The general secretary of the UNI Global Union, Christy Hoffman, said: "No matter how much they spend to fight us, corporations like Amazon cannot break the power of workers standing together."

"Make Amazon Pay Day is a powerful testament to our unity and momentum," she said. "No company —no matter how wealthy — can silence the cause of workers demanding justice."

A spokesperson for Amazon had not responded to Yahoo Finance UK's request for comment at the time of writing.

Shares in the US retailer closed Wednesday's session down 1%, as US markets were closed for the Thanksgiving holiday on Thursday. Trading in New York will resume on Friday but markets are due to close earlier.

The Walt Disney Company (DIS)

Moana 2, the sequel to one of the biggest hits on the Disney+ streaming platform is debuting in cinemas this weekend.

While the first "Moana" wasn't a major hit when it was released in cinemas in 2016, it became a smash on Disney's streaming platform. Nielsen's 2023 "Streaming upwrapped" data showed that since it started measuring streaming, audiences had watched nearly 80 billion minutes of Moana, which was released on Disney+ in late 2019, which translated to watching the full film 775 million times.

Box Office Guru founder and editor Gitesh Pandya told Yahoo Finance earlier this week that the highly anticipated Moana 2 is a "guaranteed hit".

Read more: Pound, gold and oil prices in focus: commodity and currency check, 29 November

Combined with the second weekend of Gladiator II and Wicked in theatres in the US, that this looked to be "probably the biggest Thanksgiving box office in over a decade".

He said this was set to give the film industry a much-needed boost, with "hardly any big blockbuster films" having come out in recent months.

Another big focus for Disney is its cruise ships business, with its Disney Treasury ship set to take its maiden voyage on 21 December.

This is Disney's sixth ship and is part of the company's experiences segment, which also includes its theme parks business, that represents a key area of growth that's rapidly expanded in recent years.

Disney shares closed Wednesday's session up nearly 2%.

ASML (ASML.AS, ASML)

Chip stocks in Asia and Europe rose on Thursday, following reports that the US was considering toned-down restrictions on semiconductor sales to China.

Bloomberg reported on Thursday that the additional restrictions being considered by president Joe Biden's administration on the sales of semiconductor equipment and AI memory chips to China, could stop short of some stricter curbs that had previously been proposed.

A spokesperson from the US Commerce Department’s Bureau of Industry declined to comment when contacted by Yahoo Finance UK.

Read more: Stocks that are trending today

The Amsterdam-listed shares of ASML, which manufactures lithography machines that are key to making chips, was among those that rose on the back of these reports. However, shares have since eased back and were trading flat on Friday morning.

In a note released last week, Barclays (BARC.L) equity researchers Simon Coles and Rohan Bahl said they maintained an overweight rating on ASML.

They said that the company's recent capital markets day, which is a day for investors, was "largely reassuring".

"ASML addressed many concerns at its CMD which should provide some comfort on the scope for long-term growth," they said.

Adani Green Energy (ADANIGREEN.NS)

Shares in Indian renewable energy company Adani Green Energy continued to rally on Friday on the back of a company statement in response to recent media reports of bribery charges by US federal prosecutors.

The stock surged 21% on Friday, while Adani Energy Solutions (ADANIENSOL.NS) entity shares jumped 14.5%.

Read more: Higher interest rates shrink UK's age wealth gap — but it's still nearly £330,000

Shares of companies under Adani Group plunged last week after it was reported that US prosecutors charged its billionaire owner Gautam Adani over an alleged $250m (£197m) bribery scheme.

US federal prosecutors were said to have alleged that Adani and seven other defendants were involved in a scheme to bribe Indian officials to win contracts in relation to a solar power project.

However, in a statement released on Wednesday, Adani Green Energy company secretary Pragnesh Darji said that reports that certain directors — namely Gautam Adani, his nephew Sagar Adani and the company's CEO Vneet Jaainhad – been charged with violations of the U.S. Foreign Corrupt Practices Act were "incorrect".

Anglo American (AAL.L)

Miner Anglo American was the biggest riser on the FTSE 100 (^FTSE) on Friday morning, up nearly 3%.

Shares have been on the rise this week after Anglo American said it had agreed to sell its remaining steelmaking coal business to Peabody Energy for up to $3.8bn.

The company said it would generate a total of $4.9bn from the sale of its steelmaking coal business. This included the already announced sale of its interest in Queensland-based coal company Jellinbah Group for around $1.1bn, in addition to its deal with Peabody.

Read more: What does the launch of pension megafunds mean for investors?

On Friday, the Financial Times reported that challenges at rival BHP's (BHP.L) Escondida mine, which is the world's largest copper mine, prompted speculation as to whether it would make a fresh bid for Anglo American.

BHP's initial £39bn takeover for Anglo American fell through earlier this year but a six-month restriction on making a new offer after the withdrawal of its previous bid ends on Friday.

Other companies in the news on Friday 29 November:

Shopify (SHOP)

Peel Hunt (PEEL.L)

Frontline (FRO)

Read more:

• FCA kicks off crypto regulation roadmap as UK investments surge

• Is Black Friday the best time to buy tech products?

• Bank of England chief economist warns rise in employers’ NI will impact inflation

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

A quarter ago, it was expected that this mineral resource company would post earnings of $0.01 per share when it actually produced a loss of $0.01, delivering a surprise of -200%.

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

TRX Gold , which belongs to the Zacks Mining – Gold industry, posted revenues of $13.62 million for the quarter ended August 2024, missing the Zacks Consensus Estimate by 17.44%. This compares to year-ago revenues of $9.19 million. The company has topped consensus revenue estimates just once over the last four quarters.

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

TRX Gold shares have lost about 7.3% since the beginning of the year versus the S&P 500's gain of 25.8%.

What's Next for TRX Gold?

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

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

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

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

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.02 on $19.5 million in revenues for the coming quarter and $0.07 on $70.65 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Gold is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Compass Minerals (CMP), another stock in the broader Zacks Basic Materials sector, has yet to report results for the quarter ended September 2024.

This minerals producer is expected to post quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of -666.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Compass Minerals' revenues are expected to be $208.88 million, down 10.6% from the year-ago quarter.

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

TRX Gold Corporation (TRX) : Free Stock Analysis Report

Compass Minerals International, Inc. (CMP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in Freeport-McMoRan's (NYSE:FCX) returns on capital, so let's have a look.

Return On Capital Employed (ROCE): What Is It?

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

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

0.15 = US$7.4b ÷ (US$55b – US$6.2b) (Based on the trailing twelve months to September 2024).

Therefore, Freeport-McMoRan has an ROCE of 15%. On its own, that's a standard return, however it's much better than the 10% generated by the Metals and Mining industry.

View our latest analysis for Freeport-McMoRan

NYSE:FCX Return on Capital Employed November 28th 2024

Above you can see how the current ROCE for Freeport-McMoRan compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Freeport-McMoRan for free.

What Does the ROCE Trend For Freeport-McMoRan Tell Us?

The trends we've noticed at Freeport-McMoRan are quite reassuring. The data shows that returns on capital have increased substantially over the last five years to 15%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 31%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.

The Bottom Line

A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Freeport-McMoRan has. And a remarkable 316% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue.

On a separate note, we've found 1 warning sign for Freeport-McMoRan you'll probably want to know about.

For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.

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.

Brisbane, Queensland, Australia–(Newsfile Corp. – November 26, 2024) – Graphene Manufacturing Group Ltd. (TSXV:GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce that in connection with the annual general meeting of the company's shareholders (the "Meeting"), that was held both virtually and in person on November 25th, 2024, the following voting results were obtained.

A total of 40,947,619 common shares representing 42.31% of the Company's issued and outstanding common shares were voted in connection with the Meeting. At the Meeting, shareholders re-elected four current directors: Craig Nicol, Jack Perkowski, Bob Galyen and Andrew Small. Shareholders also voted in favour of the other items of business considered at the Meeting, which included the renumeration and appointment of BDO Audit Proprietary LTD. and the approval of the Company's 10% stock option plan.

During the annual general meeting, Jack Perkowski, Chairman of GMG, and Craig Nicol, Managing Director and CEO, delivered a corporate update for shareholders in attendance. For a replay of the presentation, please click the link provided below.

GMG 2024 AGM Presentation: https://youtu.be/fuUaQaKZROE?si=GNpL35BALI3H8a2D

About GMG

GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.

The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.

For further information, please contact:Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231548

ESTES PARK, CO / ACCESSWIRE / November 27, 2024 / Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) is providing an update on its Thor project located northeast of Trout Lake, British Columbia.

South and North Tusks

An Expert Geophysics MT and Magnetic survey completed in June of 2022 identified two major conductive features that collectively form an elliptical feature under the Thor epithermal deposit. Although these two features (South and North Tusks) are not exposed at surface, the South Tusk comes closest to surface in the Broadview Mine area where the top of the feature is found 500m below the surface. One of the objectives of the 2024 deep drilling program was to test this conductive feature owing to its large size, and the possibility that it could contain precious and base metals.

South Tusk Target

An initial drill hole (Thor-241) targeted on the South Tusk southeast of the Broadview Mine was lost at a depth of 105.5m, and a second drill hole was collared 60m uphill and was eventually drilled to a depth of 576m where it penetrated the top of the conductivity feature. Although not an objective of this drill hole, Thor-242 unexpectedly intersected a zinc-rich south continuation of the Broadview Mine:

From (m)	To (m)	Au (ppb)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)
54.89	56.00	< 5	59.4	0.04	2.26	1.77
56.00	57.00	< 5	0.6	0.01	0.02	0.79
57.00	58.00	< 5	3.4	0.07	0.03	2.08
58.00	58.89	150	5.6	0.05	0.02	5.87
58.89	59.62	45	62.0	0.57	1.90	13.60
Average over 4.73m
54.89	59.62	38	28.7	0.12	0.90	5.10

Two subsequent short holes (Thor-244,105m, -450) and Thor-245, 141m, -900) were drilled from the same drill pad as Thor-242 in an attempt to validate the intersection in Thor-242, but both failed to duplicate the results.

Discussion of Hole Thor-242

Thor-242 intersected a succession of intercalated metasedimentary and volcaniclastic rocks throughout the drill hole. At the bottom of the drill hole (516.05-576.00m), the succession changes over into a black schist metasedimentary unit that is characterized by ‘clasts' of pyrite up to 4 cm in size and white-colored altered fragments. This unit (like the metasediments and volcanics above it) has been subjected to intense folding and deformation. Three discrete rock units were quantitatively analyzed for Carbon (graphitic) and Calcite (CaCO3) systematically down the drill hole. Graphite is a conductive mineral and frequently is identified using geophysical methods that measure the conductivity/resistivity of the earth, and its presence particularly in the lower part of the Thor-242 explains the conductive South Tusk anomaly.

Type of Rock	Carbon (Graphite)	CaCO3 (Calcite)	SiO2
Metasediments (N=13)	3.55%	0.86%	57.3%
Volcaniclastics (N=11)	0.22%	1.93%	68.8%
Black Schist (Pyrite ‘Bombs') (N=5)	4.73%	0.07%	52.9%

Drill Hole Thor-242 did not contain appreciable amounts of quartz veining, and it did not contain elevated levels of precious or base metal mineralization in the lower parts of the drill hole in proximity to the South Tusk. Subsequent sampling of other drill holes east of Thor-242 for graphitic carbon in 2024 has shown that the formations under the epithermal deposit and east of the Ripper Fault are essentially devoid of graphitic carbon. The presence of such elevated levels of graphitic carbon in the South Tusk (and probably the North Tusk anomaly) are indicative of sedimentary rocks where organic matter has been converted into graphite by thermal metamorphism, and is a valuable alteration indicator that can be mapped using geophysical surveys that are able to identify elevated levels of conductivity. As such, the North and Sout Tusks are related to a large thermal alteration zone that underlies the Thor epithermal deposit.

About Taranis and Thor

Taranis Resources is a Canadian mineral exploration company. The Thor Project is in southeast British Columbia. Taranis has completed upwards of 250 drill holes, linking all previously known mines into a single, near-surface epithermal deposit that has been recently updated into an NI 43-101 Mineral Resource Estimate (see Taranis News Release dated April 11, 2024). In the summer of 2024, Taranis initiated deep drilling aimed at finding the source of the 2km long epithermal deposit. This exploration uses modern geological models and uses state-of-the-art exploration tools including airborne magnetotellurics, magnetics and geochemistry. The Company's approach is that many of the historic mines in the area are underlain by comparatively large mineral deposits that do not outcrop at surface, and have the potential to become much larger deposits that can be mined using modern mining methods.

Quality Control and Laboratory Methods

All samples for the Thor project were securely delivered to Actlabs in Kamloops, British Columbia. Analytical work was completed both at the Kamloops, and Ancaster, Ontario locations. Actlabs is ISO 17025 accredited. Taranis completed two types of geochemical analysis on the drill core.

The first of these was for major oxide geochemistry and quantitative graphite and carbonate determinations. This sampling was completed systematically on drill holes to determine alteration of rock units. Major oxides and trace elements were determined by lithium metaborate/tetraborate fusion and analysis by Inductively Coupled Plasma ("ICP"), Optical Emission Spectrometry ("OES") and Mass Spectrometry ("MS"). Graphite and Carbonate determinations were made using Infrared ("IR") Spectrometry.

Secondly, visibly (or potentially mineralized sections of core) were systematically sampled after sawing the core in half onsite. Samples were analyzed for 42 elements by 4-Acid Digestion / Inductively Coupled Plasma – Mass Spectrometry ("ICP-MS") and for gold by 30g Fire Assay / Atomic Absorption Spectrophotometry ("AAS")

Where overlimit values were encountered in the analysis of these samples, ‘ore-grade' determinations were made using subsequent ICP analysis and gravimetric methods. As a Quality Control ("QC") measure, Taranis also submitted analytical standards into the sample stream every tenth sample in addition to the laboratory's own quality control methods.

Qualified Person

Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. John Gardiner is a principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release.

For additional information on Taranis or its 100%-owned Thor project in British Columbia, visit www.taranisresources.com

Taranis currently has 100,082,187 shares issued and outstanding (113,827,227 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geo.), President and CEO

For further information contact:

John J. Gardiner681 Conifer LaneEstes Park, Colorado 80517Phone: (303) 716-5922Cell: (720) 209-3049johnjgardiner@earthlink.net

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

This News Release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.

SOURCE: Taranis Resources, Inc.

View the original press release on accesswire.com

As U.S. President Biden nears the end of his term, there’s one little-known metal whose scarcity is keeping him up at night even today. And analysts warn that President-elect Donald Trump is likely to inherit this headache too.

The metal is not gold, silver, or uranium. It’s not the lithium used for EV batteries. It’s not the copper that is essential for electrification. It’s not even the rare earth elements that are crucial for everything from smartphones to wind turbines.

This metal has a global annual production of less than 100,000 tons – a small fraction of the lead, copper, and iron produced every year. But it is a vital component in everything from armor-piercing bullets, nuclear weapons, explosive missiles to fire retardants in electronics and military uniforms. Most importantly, there are no viable alternatives at the moment.

But one forward-looking company, Military Metals Corp. (CSE:MILI; OTCQB:MILIF), has recently purchased historically-proven deposits that could swiftly address America's most pressing resource vulnerability in recent times.

The metal we’re talking about is antimony, and its scarcity has Western governments rattled.

Military Metals CEO Scott Eldridge sees a major antimony supply crunch coming. And antimony prices this year, along with new Chinese restrictions add extra support to that prediction with prices tripling since earlier this year from $12,000 per ton to $38,000. That’s why the company acquired past-producing antimony mines on two continents at breakneck speed.

But first, let’s zoom in on antimony demand, and prices, and why they are going through the roof right now.

The Global Antimony Supply Squeeze

The current crisis stems from China’s dominance in both global antimony production and refining. China, Russia, and Tajikistan control 85% of the world’s antimony supply.

Antimony is not easy to extract and it’s often a by-product in the extraction of other metals like gold, silver, or copper. And China, which also currently controls 65% of global antimony refining capacity, has just imposed troubling new restrictions on its export.

Because China controls most of the world’s antimony, when they cut supply Western military supply chains are directly impacted.

According to a recent article published by the Center for Strategic and International Studies (CSIS) in Washington, D.C., the U.S. only has 20 days’ worth of antimony inventory. Germany has just 2 days’ worth of munitions supply. And geopolitical tensions in Ukraine, the Middle East, Afghanistan, and other places continue to aggravate the demand for antimony.

So, antimony demand from defense is at record highs right now, and it’s only going to increase exponentially in the years to come.

Washington's $1.8 Billion Antimony Push

All these factors have together pushed antimony prices past $38,000 per ton – a 300% price increase in just the last 24 months. And this might just be the start!

Understandably, political support for securing critical mineral supply chains across the globe is intensifying.

Major economies like the U.S., Canada, the U.K., Japan, Australia, the European Union, and South Korea have all classified antimony as a “critical mineral.” And the U.S. government is keen on backing domestic antimony projects to reduce dependence on Chinese imports.

As a part of that initiative, Perpetua Resources Corp., a mining company focused on developing gold-antimony deposits in the Stibnite district of Idaho, is securing a $1.8B loan from U.S. Export-Import Bank, along with an additional $60M from the Department of Defense.

As a result, Perpetua’s stock has shot up over 400% since March this year.

But this rapid surge is just one example of the antimony sector's explosive potential.

Now, Military Metals Corp (CSE:MILI; OTCQB:MILIF), an under-the-radar company with premium assets in friendly NATO territory is positioning itself for even bigger success…

The company recently announced that it has purchased one of Europe’s largest antimony deposits in Slovakia. The flagship Trojarova property here features a historical Soviet-era resource of 61,998.4 tonnes of antimony which has a in-situ value of over $2 billion of antimony in the ground at today’s spot prices. Located just 30 minutes from Bratislava with excellent infrastructure, the company thinks they can fast-track this project with a resource estimate within 6 months.

Then there’s the Tienesgrund property, also in Slovakia, which covers 13.38 km² and encompasses 40-50 historical mining tunnels dating back to 1840. Historical Soviet-era work estimated 162t with an average grade of 7.7% antimony here, and the company expects to establish a resource within 12 months.

Their West Gore property in Nova Scotia, which was one of Canada's largest antimony producers during World War I still holds significant unmined material. Historical ore extracts showed as high as 46% antimony content.

Lastly, their Bear Creek property in Slovakia is a historical high-grade tin resource. The company got this project as a part of their Slovakia deal, but they’re thinking of divesting this to get money for their antimony projects.

Key Factors Driving Military Metals Corp.’s Story

At this critical point in the antimony market, Military Metals Corp. stands out for five key reasons…

Significant Growth Potential: Even though the Military Metals Corp. stock has seen a substantial run in recent times, with the current market cap of just $23M vs real asset potential, there’s a lot more upside yet to be unlocked.

Rising Market Awareness: Growing media coverage in the Financial Times, Forbes, etc., gives early investors a massive advantage in capitalizing on the coming antimony surge.

Pure Antimony Play: Unlike gold or oil, there are no ETFs or futures contracts to trade antimony. Equity investments into junior mining companies, like Military Metals Corp., is the only real way to get exposure to antimony.

Premium Asset Portfolio: The company has assets located at three prime locations in Slovakia and one location in Canada. Plus, the project qualifies under the European Critical Raw Materials Act, potentially helping to accelerate its development.

To sum up, as global demand for antimony continues to rise and geopolitical tensions persist, securing stable supplies outside of China’s control remains a key challenge for Western nations.

8 bonus stocks to keep an eye on:

Freeport-McMoRan Inc. (NYSE: FCX) Freeport-McMoRan Inc. based in Phoenix, Arizona, is one of the world's leading mining companies, with significant reserves of copper, gold, and molybdenum. The company's sizeable asset base includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits, and significant mining operations in the Americas. With copper being a critical material in renewable energy and electric vehicle technologies, Freeport-McMoRan stands to benefit from the global push towards greener economies.

Freeport-McMoRan is also actively involved in community engagement and environmental stewardship. The company has implemented various initiatives aimed at reducing its environmental footprint and promoting sustainable mining practices. These efforts include water management, biodiversity conservation, and emission reduction strategies. By focusing on responsible mining, Freeport-McMoRan is not only ensuring compliance with environmental standards but is also contributing to the broader goal of sustainable development in the regions it operates.

Cleveland-Cliffs Inc. (NYSE:CLF) is a critical player in the U.S. defense industry, serving as North America's largest flat-rolled steel producer and a key supplier of iron ore pellets. The company provides essential materials used in the construction of military vehicles, ships, aircraft, and infrastructure, as well as in the manufacturing of critical components for weapons systems. This domestic production capability is vital for ensuring the stability and self-reliance of the U.S. defense industrial base.

By sourcing steel domestically from companies like Cleveland-Cliffs, the U.S. reduces its dependence on foreign suppliers and mitigates potential supply chain vulnerabilities that could arise during times of conflict or geopolitical instability.  Reliable access to high-quality steel from Cleveland-Cliffs ensures the uninterrupted production of essential defense equipment and strengthens the readiness of the U.S. military.

Cleveland-Cliffs demonstrates a commitment to sustainable practices, including responsible mining and the utilization of renewable energy sources. This aligns with the increasing emphasis on environmental stewardship within the defense sector. By minimizing its environmental impact and promoting responsible resource management, Cleveland-Cliffs contributes to a more sustainable and resilient defense industrial base for the future.

Southern Copper Corporation (NYSE: SCCO) is a leading integrated copper producer with extensive operations in Mexico and Peru.  The company plays a significant role in supplying copper, a critical metal for the defense industry, utilized in the production of ammunition, electrical wiring, and electronic components for a wide array of military applications. Southern Copper's substantial production capacity and commitment to operational efficiency position it as a reliable partner in meeting the copper needs of the U.S. defense industry.

A consistent and dependable supply of copper is essential for maintaining the production of critical defense equipment and ensuring the operational readiness of the U.S. military. Southern Copper's ability to meet this demand reinforces the stability and resilience of the defense supply chain.

Beyond its operational capabilities, Southern Copper is dedicated to sustainable mining practices and community development.  The company actively works to minimize its environmental footprint and engage with local communities, fostering responsible sourcing of this vital material. This commitment to ethical and sustainable practices enhances the integrity of the defense supply chain and contributes to responsible resource management.

Cameco Corp (NYSE: CCJ) is a leading global provider of uranium fuel, a critical component for nuclear power generation and defense applications. With major operations in Canada and the United States, Cameco plays a vital role in ensuring a secure and reliable supply of uranium to support both civilian and defense needs.

Cameco's uranium mining and processing activities are essential for maintaining the U.S. nuclear deterrent. The company's production contributes to the reliable operation of nuclear-powered aircraft carriers and submarines, vital components of U.S. national security and its ability to project power globally.  A stable supply of uranium fuel is crucial for sustaining these capabilities and ensuring strategic readiness.

Cameco adheres to stringent safety and environmental standards in its operations. This commitment to responsible mining practices minimizes environmental impact and contributes to the sustainable management of nuclear materials. By prioritizing safety and environmental stewardship, Cameco supports the long-term viability of the nuclear industry and its role in providing clean energy and national security.

Teck Resources Limited (NYSE:TECK) is a prominent player in the global mining industry, headquartered in Vancouver, Canada.  With a diversified portfolio of operations across Canada, the United States, Chile, and Peru, Teck is a leading producer of essential metals, including zinc and copper, as well as commodities such as coal, lead, and silver.  The company's extensive mining and processing facilities contribute significantly to the global supply of

these critical materials.

Teck holds a strong position in the zinc market, ranking as the world's second-largest producer with an annual production capacity exceeding 800,000 tonnes.  The company's zinc finds widespread application in various industries, including the production of galvanized steel, batteries, and chemicals.  This production plays a vital role in supporting key sectors and driving economic growth.

Moreover, Teck's operations are strategically significant in the context of the burgeoning demand for battery metals.  Zinc is a crucial component in various battery types, including those used in electric vehicles.

As such, Teck's zinc production is integral to meeting the growing needs of the electric vehicle market and other sectors reliant on battery technologies. This positions the company as a key contributor to the transition towards cleaner energy solutions and a more sustainable future.

Rio Tinto (NYSE: RIO) is a leading global mining and metals company with a strong reputation for operational excellence and sustainable development.  The UK-Australian multinational operates in approximately 35 countries, boasting a diverse portfolio of world-class assets across key commodities, including aluminum, copper, diamonds, coal, iron ore, and uranium.  This diversified portfolio, coupled with strong market fundamentals, particularly in copper and iron ore, positions Rio Tinto as an attractive prospect for investors.

Beyond its extensive mining operations, Rio Tinto is at the forefront of implementing innovative technologies and sustainable mining practices. The company actively invests in renewable energy and prioritizes the rehabilitation of mining sites, demonstrating a clear commitment to reducing its environmental impact.  These efforts align with a growing global emphasis on responsible resource management and underscore Rio Tinto's dedication to environmental stewardship.

Rio Tinto's proactive approach to corporate responsibility and sustainability is not merely an add-on, but an integral element of its business strategy.  By embedding sustainable practices throughout its operations, the company aims to create long-term value for its stakeholders while minimizing its environmental footprint. This commitment sets a benchmark for the mining industry, demonstrating that operational efficiency and environmental responsibility can go hand-in-hand.

BHP Group’s (NYSE:BHP)  is a leading global resources company with a diverse portfolio of mining assets. The company's operations span several continents, including substantial iron ore mines in Australia's Pilbara region, which contribute significantly to global iron ore production. BHP also maintains copper, coal, and nickel operations in Australia, along with significant energy assets. In the Americas, BHP operates copper and iron ore mines in Chile, Peru, and Colombia, and coal operations in the United States. This global presence and diversified commodity portfolio enable BHP to meet the needs of a wide range of customers worldwide and contribute to the global supply of essential resources.

BHP Group is deeply committed to responsible and sustainable operations. The company recognizes the crucial role it plays in environmental protection and has implemented numerous initiatives to minimize its environmental footprint. This includes ambitious targets to reduce greenhouse gas emissions and investments in technologies to improve water usage efficiency. BHP also prioritizes engagement with local communities to mitigate the social and environmental impacts of its operations. Its commitment to sustainability has earned recognition from various organizations, including the Dow Jones Sustainability Index, where BHP has consistently ranked as a global leader.

BHP Group's focus on sustainability aligns with the increasing demand for ethically sourced and environmentally responsible products. By prioritizing sustainability, BHP positions itself as a leader in the mining industry, demonstrating its commitment to generating long-term value for its stakeholders. This dedication to sustainability serves as a key differentiator and provides a competitive advantage in an industry increasingly focused on environmental and social responsibility.

Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company with headquarters in Charlotte, North Carolina. The company operates across three main segments: Lithium, Bromine Specialties, and Catalysts. Albemarle holds the distinction of being the world's largest lithium producer, supplying a critical component for electric vehicle batteries. In addition to lithium, the company produces a range of specialty chemicals, including bromine, catalysts, and pharmaceuticals.

Founded in 1887 as the Albemarle Paper Manufacturing Company, Albemarle originally focused on paper and pulp production. However, the company strategically diversified into other chemical sectors in the 1960s. A significant milestone occurred in 1994 when Albemarle merged with Ethyl Corporation, a specialty chemicals producer, leading to the formation of the present-day Albemarle Corporation.

In recent years, Albemarle has capitalized on the growing demand for lithium-ion batteries, driven by the rise of electric vehicles and other battery-dependent technologies. The company has made substantial investments to expand its lithium production capacity. This includes a planned $500 million investment in a new lithium hydroxide plant in North Carolina, expected to be operational in 2025. Albemarle continues to explore opportunities to further expand its lithium business, including potential acquisitions, solidifying its position in this strategically important market.

By. Michael Kern

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. The forward-looking statements in this publication are based on current expectations and assumptions about future events, geopolitical developments, trade policies, market conditions, the company’s strategic initiatives to address the critical shortage of antimony, and current expectations, estimates, and projections about the industry and markets in which the company operates.  Factors that could change or prevent these statements from coming to fruition include, but are not limited to, the potential impact of the upcoming U.S. elections on various industries and specific companies, changes in government policies, market conditions, regulatory developments, geopolitical events and the company’s ability to successfully acquire and develop new antimony resources and fluctuations in antimony prices. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

DISCLAIMERS

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Read this article on OilPrice.com

Amid ongoing concerns about trade war escalations and heightened geopolitical tensions, some investors are opting to focus on domestic names. Villere & Co. portfolio manager George Young tells Julie Hyman and Josh Lipton on Market Domination Overtime that he is focused on domestic companies but says he’s willing to make an exception for this copper mining company: Freeport-McMoRan (FCX).

Young says, “We’re looking at ‘Domestically, what can we do? What can our clients do? Where are the profits available?'”

The portfolio manager notes that Freeport is “an exception because the demand for copper is pretty permanent.” He explains the long life of copper mines compared to other commodity sources and the “difficult” location of the metal as driving factors making the mining stock attractive.

He adds, “There’s no substitute for copper” and “nothing else can replicate copper.”

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.

This post was written by Naomi Buchanan.

Harmony Gold Mining Company Limited HMY stock looks attractive from a valuation perspective. HMY is currently trading at a forward price/earnings of 6.8X, a roughly 46.7% discount when stacked up with the Zacks Mining – Gold industry’s average of 12.75X. It also has a Value Score of A.HMY is currently trading at a roughly 24.6% discount to its 52-week high of $12.29, reached on Oct. 22, 2024, as gold prices catapulted to new highs on U.S. election uncertainties and heightened geopolitical tensions. Harmony’s cheap valuation should lure investors seeking value. But is the time right to buy HMY’s shares based on its attractive valuation? Let’s delve deeper.

Image Source: Zacks Investment Research

HMY Stock Outperforms Industry and S&P 500

Thanks to the rally in gold prices, HMY’s shares have surged 50.6% year to date, outperforming the industry’s rise of 21.3% and the S&P 500’s increase of 25.7%. Its peers, Gold Fields Limited GFI and DRDGOLD Limited DRD have racked up a gain of 1.7% and 22.1%, respectively, over the same period.

HMY’s YTD Price PerformanceZacks Investment Research

Image Source: Zacks Investment Research

Technical indicators show HMY stock eclipsed its 200-day simple moving average (SMA) on Nov. 18, 2024, following a momentary pullback since Nov. 13 as gold prices retreated due to a strengthening U.S. dollar. The stock, for the most part, has traded above the 200-day SMA this year. However, Harmony is currently trading below the 50-day SMA.  Nevertheless, the 50-day SMA continues to read higher than the 200-day SMA, indicating a bullish trend.

HMY Trades Below 50-Day SMAZacks Investment Research

Image Source: Zacks Investment Research

Wafi-Golpu & Eva Copper Projects Underpin HMY’s Growth

Harmony is South Africa's biggest gold producer by volume, with production of roughly 1.56 million ounces in fiscal 2024.  It has a diverse portfolio of gold development projects spread across South Africa and Papua New Guinea (PNG).  The company’s development projects currently in progress include the development of the Wafi-Golpu copper-gold project in PNG and the Eva Copper project in Australia. The Wafi-Golpu project is believed to be a game-changer for the company, with an estimated reserve of 13 million ounces of gold. HMY is currently in negotiations with its joint venture partner Newmont Corporation NEM and the PNG Government regarding the terms of a Mining Development Contract, which is required for a Special Mining Lease.The low-risk Eva Copper project in Australia offers additional upside, giving HMY a significant global copper-gold footprint. HMY acquired Eva Copper in 2022, adding a tier-one mining jurisdiction to its portfolio. The acquisition is in line with HMY’s objective of transitioning into a low-cost gold and copper mining company. The feasibility study update for the project is currently underway. HMY has received a conditional grant funding from the Queensland government, which will help accelerate the development of this project. It is subject to several conditions, including HMY reaching a positive final investment decision by January 2026. Eva Copper is expected to produce 50,000-60,000 tons of copper per annum.

Rallying Gold Prices to Drive HMY’s Profitability

Gold has been among the best-performing assets this year. Prices of the yellow metal have rallied roughly 27% this year, driven by strong demand from central banks, a dovish Fed interest rate outlook, global uncertainties and a surge in safe-haven demand thanks to increased tensions in the Middle East. While a stronger U.S. dollar weighed on the yellow metal recently, gold prices are regaining strength on heightened uncertainty over the Russia-Ukraine conflict. Prices are also likely to gain support on prospects of another rate cut in December. HMY’s adjusted earnings surged 120% year over year in fiscal 2024 on an 11% rise in average gold prices. In first-quarter fiscal 2025, HMY recorded a roughly 25% increase in average gold prices received to $2,356 per ounce. Higher gold prices should boost HMY’s profitability and drive cash flow generation.

Harmony Gold’s Solid Financial Health Bodes Well

Harmony boasts a strong balance sheet and generates substantial cash flows, which allows it to finance its development projects and drive shareholder value. Its net cash increased roughly 129% to $362 million at the end of first-quarter fiscal 2025 from $158 million at the end of fiscal 2024. The company ended the first quarter with solid liquidity of $910 million. Its operating free cash flow also climbed 60% year over year to $288 million in the quarter, driven by higher average gold prices. HMY also has a dividend policy to pay 20% of net free cash generated to shareholders at its board’s discretion.

Higher Costs Strain HMY’s Margins

Harmony, like most miners, is exposed to higher costs, which are likely to weigh on its margins over the near term. Labor and electricity remain the largest component of its cost structure. It saw a roughly 19% surge in all-in-sustaining costs (in dollars) in the first quarter of fiscal 2025 due to higher labor costs and winter tariffs on electricity. Total cash costs also climbed 18% year over year in the quarter. Total cash operating costs (in dollars) also rose around 4% year over year in full-year fiscal 2024. HMY saw a 21% increase in electricity costs in fiscal 2024 due to higher annual tariffs charged by Eskom. While the company is implementing various energy-saving initiatives and launching a renewable energy program, the burden of higher electricity costs is unlikely to abate over the near term due to higher tariffs.

HMY’s FY25 Earnings Estimates Moving Lower

Earnings estimates for HMY for fiscal 2025 have been going down over the past 60 days. The Zacks Consensus Estimate for fiscal 2026 has been revised upward over the same time frame.  Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Zacks Investment Research

Image Source: Zacks Investment Research

How Should Investors Play the HMY Stock?

Harmony is advancing several key development projects, including Wafi-Golpu and Eva Copper, which are expected to enhance production and expand its international footprint. The acquisition of Eva Copper aligns with the company’s goal of transitioning into a low-cost gold and copper producer. Rallying gold prices are also expected to drive HMY’s performance. Solid liquidity and effort to drive cash flow also augur well. Despite HMY’s attractive valuation, its high electricity and labor costs warrant caution. Therefore, holding onto this Zacks Rank #3 (Hold) stock will be prudent for investors who already own it. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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

Newmont Corporation (NEM) : Free Stock Analysis Report

Gold Fields Limited (GFI) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

DRDGOLD Limited (DRD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

One of the best investments on the planet right now could be a little-known critical strategic critical metal that has exploded 200% this year.

It’s the metal that wins wars, and China has banned its export with the intent of stripping the U.S. war machine of its capabilities.

During WWII, antimony was the hero of the day. It’s a critical element in the production not only of fire-retardant military uniforms and tents, but also in the mass production of many of our means of modern warfare, from bullets and artillery shells to night vision googles, nuclear weapons and anti-tank missiles. Without Antimony, the U.S. could be rendered defenseless in the face of its enemies.

It’s an opportunity that North America-based Military Metals (CSE: MILI, OTCQB: MILIF) is pouncing on with a series of strategic acquisitions of past-producing antimony mines and new discoveries from North America to Europe.

That’s why prices skyrocketed this year when China, which controls nearly half the world’s production and three-quarters of its refining, cut the U.S. out of the Antimony supply chain.

The price of antimony doubled in July, 2024, according to S&P Global, hitting a then-record $22,750 per metric ton (antimony ingots 99.65% FOB) by August 6th. By November  15th, the price had hit $25,000 a ton, according to Forbes, for a 212% surge YTD.

The supply squeeze and the 200% price boost has netted investors triple-digit returns this year, first in Australia, where ASX-listed miners have been reaping huge rewards for investors.

Australian media is calling it an “antimony party”, with Larvotto Resources Ltd. (ASX:LRV) up over 800%, most of that gained in the past six months after China restricted antimony exports.

Now, everyone’s watching the junior miners to see who is next to benefit from the bounty of Chinese restrictions, and the next one to pop could be Military Metals (CSE: MILI, OTCQB: MILIF) who have made a number of acquisitions over the past few months inserting themselves firmly into the picture.

Where the Opportunities Lie

“The surge in prices, which industry participants expect to persist, underscores the West's vulnerability in relying on top producer China for key minerals and could also force end-users to find alternatives for some applications,” according to Reuters, opening the door wide open for ambitious new entrants to the highly exclusive antimony club.

Miners are rushing the space. In the span of only two days in October alone, we saw Felix Gold Ltd announce plans to take “several steps” toward the goal of establishing a 5,000-metric-ton-per-year antimony mine by the end of 2025.

Australia’s Larvotto, which holds Australia’s biggest antimony deposit, owns the Hillgrove gold-antimony project near Armidale, New South Wales, and that ship has already sailed.

But new entrants like Military Metals could be the next big surge winners, with Forbes now calling this space “the latest to generate short-term profits of more than 100% on money invested”.

The company has two big cards to play right now, following its recent purchase of two Antimony mines and one Tin project.

One card is a triple set of assets in Slovakia in Central Europe, where antimony shortages are making the wider European Union very anxious. By the time China implemented antimony export restrictions in September, having announced the move in August, Europe was already in a critical metals panic. China had already put export restrictions on rare earth minerals gallium and germanium, along with battery metal graphite, in 2023 and 2024, and European refiners have been seeking alternative supplies from Tajikistan, Vietnam and Myanmar while the U.S. is trying to tap India.

Military Metals is hoping to provide a new source of antimony for Europe in Slovakia and for the U.S. in Canada’s Nova Scotia, at a past-producing mine that was the country’s largest during WWI. 

The Trojarova asset is part of its recent Slovakian acquisition and is one of the European Union’s largest Antimony deposits with a historical resource of over 60,998 tons of Antimony that has a in-situ value of $2 billion at today’s spot prices.

"This acquisition strategically positions Military Metals as a leading explorer and developer of antimony," CEO Scott Eldridge said in a press release, describing the Slovakian antimony projects as offering “significant potential for rapid advancement, particularly given Slovakia's strong mining infrastructure and history”.  

“We see this as a perfect alignment with the European Union's Critical Raw Materials Act, opening the door to potential EU funding sources as we advance these projects toward production,” Eldridge added.

In late September 2024, Military Metals moved to acquire the West Gore past-producing antimony/gold mine in Nova Scotia, Canada, conjuring up the ghosts of WWI who also saw demand for antimony soar in a time of global conflict.

Just a month later, on October 24,  2024, Military Metals Corp. moved to consolidate additional territory around West Gore, where historical drilling results from Canada’s biggest antimony mine showing over 7 meters of 10.6 gpt gold and 3.4% antimony.

The Pentagon makes Antimony a Top Priority

For U.S. national security, things will have to move quickly, shifting important focus to junior miners willing to bet big on the next market-rattling supply crunch.

It can’t happen fast enough.

Germany has essentially been demilitarized, with its own defense ministry estimating it has about 2 days of ammunition if there is a war with Russia, which it fully expects to happen within the next few years at most.

In March 2024, the European Union allocated 500,000,000 euro under the Act in Support of Ammunition Production (ASAP) to boost output capacity to 2 million shells annually by the end of 2025. But the Western militaries have a major problem.

The U.S. Army, for its part, has set its industrial war room in motion because it was already dealing with an artillery shell supply crunch. It’s planning a major ramp-up in the output of “legacy munitions”, including anti-tank missiles, Stingers and artillery shells. The goal is to increase production of the 155-millimeter artillery shell from 40,000 units/month today to 100,000 units/month by the end of the year. That means a massive ramp-up of antimony supplies that can no longer come from China.

This is a junior miner playing field at its best, making antimony one of the best investment theses of this year and next, and China is feeding the price and supply frenzy with export restrictions. And the news flow for anything antimony is expected to be a media frenzy, with new entrants exponentially picking up the pace of deal-making in this unique space.

Other resource companies to watch:

Piedmont Lithium (NASDAQ: PLL)

Piedmont Lithium is a development-stage company focused on establishing a fully integrated lithium hydroxide business in the United States. Their core operation centers around the Carolina Tin-Spodumene Belt in North Carolina, a region with a history of lithium production. Piedmont aims to be a key supplier of lithium hydroxide, a crucial component in electric vehicle batteries and energy storage systems, to the burgeoning U.S. market.

This company matters because they are addressing a critical need for domestically sourced lithium. The U.S. currently relies heavily on imports for its lithium supply, creating potential vulnerabilities in the supply chain. Piedmont's operations contribute to a more secure and resilient domestic supply of this essential mineral, which is vital for the production of advanced batteries used in defense applications such as electric vehicles, drones, and communication systems.

Furthermore, Piedmont Lithium's commitment to responsible mining and environmental sustainability aligns with the growing emphasis on ethical sourcing of critical minerals. By adhering to high environmental standards and engaging with local communities, Piedmont contributes to a more sustainable and socially responsible domestic lithium supply chain, which is crucial for ensuring that the production of lithium for defense applications is conducted in an ethical and environmentally conscious manner.

Lithium Americas (NYSE: LAC)

Lithium Americas is a resource company dedicated to developing lithium projects in Argentina and the United States. Their flagship project, Thacker Pass in Nevada, is poised to be one of the largest lithium mines in North America. Thacker Pass is expected to produce lithium carbonate, a key ingredient in lithium-ion batteries, catering to the growing demand for electric vehicles and renewable energy storage.

This company is important because they are contributing significantly to the diversification of the global lithium supply chain. Currently, a significant portion of lithium production is concentrated in China, creating potential geopolitical risks and supply chain vulnerabilities. Lithium Americas' projects, particularly Thacker Pass, aim to reduce this dependence by increasing North American lithium production, thereby strengthening the resilience of the U.S. defense industrial base and ensuring a more stable supply of this critical mineral for defense applications.

Moreover, Lithium Americas is committed to sustainable development and responsible mining practices. Their approach emphasizes environmental protection, community engagement, and the responsible management of water resources. This commitment is crucial for ensuring the long-term viability of their operations and the ethical sourcing of lithium for defense and other critical applications.

Vale S.A. (NYSE: VALE)

Vale S.A. is a Brazilian multinational corporation and one of the world's largest producers of iron ore and nickel. Iron ore is a key ingredient in steelmaking, while nickel is a crucial component in stainless steel and various alloys used in aerospace, defense, and other high-performance applications. Vale operates globally, with significant mining and production facilities in Brazil, Canada, and other countries.

This company is important because they are a major player in the global mining and metals industry, providing essential raw materials for various sectors, including the defense industry. Vale's production of iron ore and nickel contributes to the global supply of these critical minerals, which are essential for the manufacturing of military equipment, infrastructure, and advanced technologies.

Vale's commitment to sustainable mining practices and social responsibility is also noteworthy. The company has implemented various initiatives to reduce its environmental impact, promote biodiversity, and support local communities. This commitment is crucial for ensuring the responsible sourcing of critical minerals and minimizing the environmental footprint of mining operations, which is particularly important for national security and the long-term sustainability of the defense industrial base.

Uranium Energy Corp (NYSE American: UEC)

Uranium Energy Corp is a U.S.-based uranium mining and exploration company with a focus on in-situ recovery (ISR) mining projects in Texas, Wyoming, and New Mexico. ISR mining is a less invasive and more environmentally friendly method of uranium extraction compared to traditional open-pit mining. Uranium Energy Corp has a portfolio of permitted and development-stage ISR projects, positioning them to be a significant contributor to the U.S. uranium supply.

This company is important because they are contributing to the revitalization of the U.S. uranium mining industry. After a period of decline, the U.S. is increasingly recognizing the importance of securing a domestic supply of uranium for both energy security and national security purposes. Uranium Energy Corp's ISR projects offer a more sustainable and environmentally responsible approach to uranium mining, which is crucial for ensuring the long-term viability of the industry and minimizing the environmental impact of uranium production.

Furthermore, Uranium Energy Corp's focus on U.S. uranium production helps to reduce dependence on foreign sources of this strategically important material. This is crucial for national security, as it ensures that the U.S. has access to a reliable supply of uranium for its nuclear power plants and its nuclear deterrent, without being subject to the geopolitical dynamics or potential disruptions associated with relying on foreign suppliers.

Steel Dynamics (NASDAQ: STLD)

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States. The company produces a wide range of high-quality steel products, including flat roll steel, structural steel, and rail, which are essential for various industries, including the defense sector. From the construction of military vehicles and ships to the building of infrastructure and manufacturing of critical components, steel remains a foundational material for national defense.

A strong and resilient domestic steel industry is vital for ensuring national security. Steel Dynamics' production capacity and commitment to technological advancement contribute to the stability and self-reliance of the U.S. defense industrial base. By sourcing steel from domestic producers like Steel Dynamics, the U.S. can reduce its dependence on foreign suppliers and ensure that it has access to the necessary materials to support its defense needs in times of crisis or geopolitical instability.

Furthermore, Steel Dynamics' focus on sustainable practices and environmental stewardship is important for ensuring the long-term viability of the domestic steel industry. By investing in energy-efficient technologies and minimizing its environmental impact, the company contributes to a more sustainable and resilient defense industrial base. This is crucial for national security, as it ensures that the production of steel for defense applications is conducted in a manner that is both environmentally responsible and economically sustainable.

MP Materials (NYSE: MP)

MP Materials owns and operates Mountain Pass, the only integrated rare earth mining and processing site in North America. Rare earth elements are essential for a wide range of technologies, including defense applications such as guidance systems, lasers, and radar. MP Materials' role in securing a domestic supply of these critical minerals is vital for reducing dependence on foreign sources, particularly China, which currently dominates the rare earth market.

The concentration of rare earth production in China poses a potential risk to national security, as it creates a vulnerability to supply chain disruptions or geopolitical tensions. MP Materials' operations at Mountain Pass contribute to diversifying the rare earth supply chain and ensuring that the U.S. has access to these critical materials for its defense needs. This reduces reliance on potentially adversarial nations and strengthens the resilience of the U.S. defense industrial base.

Furthermore, MP Materials' commitment to environmental responsibility and sustainable mining practices is important for ensuring the long-term viability of its operations and the responsible sourcing of rare earth elements. By minimizing its environmental impact and adhering to high ethical standards, MP Materials contributes to a more secure and sustainable defense supply chain.

Compass Minerals International (NYSE: CMP)

based in Overland Park, Kansas, is a leading provider of essential minerals, including salt, sulfate of potash, magnesium chloride, and even sustainable lithium. The company's diversified product mix serves a wide range of markets, including agriculture, consumer deicing, water conditioning, and various industrial applications.

Beyond its current offerings, Compass Minerals is investing in new technologies and methods to enhance the efficiency and environmental sustainability of its operations. The company's focus on innovation is particularly evident in its approach to lithium extraction, where it aims to capitalize on the growing demand in the electric vehicle market. This strategic direction not only diversifies their portfolio but also positions Compass Minerals as a key player in the transition to a more sustainable global economy.

Freeport-McMoRan Inc. (NYSE: FCX)

Freeport-McMoRan Inc., based in Phoenix, Arizona, is one of the world's leading mining companies, with significant reserves of copper, gold, and molybdenum. The company's sizeable asset base includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits, and significant mining operations in the Americas. With copper being a critical material in renewable energy and electric vehicle technologies, Freeport-McMoRan stands to benefit from the global push towards greener economies.

Freeport-McMoRan is also actively involved in community engagement and environmental stewardship. The company has implemented various initiatives aimed at reducing its environmental footprint and promoting sustainable mining practices. These efforts include water management, biodiversity conservation, and emission reduction strategies. By focusing on responsible mining, Freeport-McMoRan is not only ensuring compliance with environmental standards but is also contributing to the broader goal of sustainable development in the regions it operates.

By. Michael Scott

 

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. The forward-looking statements in this publication are based on current expectations and assumptions about future events, geopolitical developments, trade policies, market conditions, the company’s strategic initiatives to address the critical shortage of antimony, and current expectations, estimates, and projections about the industry and markets in which the company operates.  Factors that could change or prevent these statements from coming to fruition include, but are not limited to, the potential impact of Trump’s victory in the U.S. elections on various industries and specific companies, changes in government policies, market conditions, regulatory developments, geopolitical events and the company’s ability to successfully acquire and develop new antimony resources and fluctuations in antimony prices. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

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The Canadian market is showing strong momentum as it heads into 2025, supported by resilient consumer spending, rising corporate profits, and the beginning of a rate-cutting cycle. While optimism is high, investors are advised to remain cautious of potential curveballs and consider diversifying their portfolios. Penny stocks, often representing smaller or newer companies, continue to offer intriguing opportunities for those looking beyond the big names; they can provide a mix of affordability and growth potential when paired with strong financials.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Alvopetro Energy (TSXV:ALV)	CA$4.54	CA$165.86M	★★★★★★
Amerigo Resources (TSX:ARG)	CA$1.74	CA$288.49M	★★★★★☆
Pulse Seismic (TSX:PSD)	CA$2.34	CA$119.07M	★★★★★★
PetroTal (TSX:TAL)	CA$0.63	CA$574.88M	★★★★★★
Mandalay Resources (TSX:MND)	CA$3.52	CA$330.8M	★★★★★★
Foraco International (TSX:FAR)	CA$2.18	CA$215.73M	★★★★★☆
Findev (TSXV:FDI)	CA$0.455	CA$13.03M	★★★★★☆
Silvercorp Metals (TSX:SVM)	CA$4.79	CA$1.04B	★★★★★★
NamSys (TSXV:CTZ)	CA$1.07	CA$28.74M	★★★★★★
East West Petroleum (TSXV:EW)	CA$0.04	CA$3.62M	★★★★★★

Click here to see the full list of 960 stocks from our TSX Penny Stocks screener.

Here’s a peek at a few of the choices from the screener.

Green Impact Partners

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

Overview: Green Impact Partners Inc., with a market cap of CA$73.31 million, offers water, waste, and solids treatment and recycling services across North America.

Operations: The company generates revenue of CA$157.99 million from its water and solids recycling and energy product optimization segment.

Market Cap: CA$73.31M

Green Impact Partners Inc., with a market cap of CA$73.31 million, shows potential in the penny stock segment through its substantial revenue generation of CA$157.99 million from water and solids recycling services. Despite this, the company is currently unprofitable and not expected to reach profitability within the next three years. Its net debt to equity ratio stands at a satisfactory 16.9%, although short-term assets exceed liabilities, long-term liabilities remain uncovered by short-term assets. Recent earnings reports indicate increased losses compared to previous periods, highlighting ongoing financial challenges despite stable weekly volatility over the past year.

• Click to explore a detailed breakdown of our findings in Green Impact Partners’ financial health report.

• Evaluate Green Impact Partners’ prospects by accessing our earnings growth report.

TSXV:GIP Debt to Equity History and Analysis as at Nov 2024Regulus Resources

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

Overview: Regulus Resources Inc. is a mineral exploration company with a market cap of CA$251.81 million.

Operations: No revenue segments are reported for this mineral exploration company.

Market Cap: CA$251.81M

Regulus Resources Inc., with a market cap of CA$251.81 million, operates as a pre-revenue mineral exploration company, focusing on strategic asset acquisitions like the recent agreement to acquire the remaining 30% interest in Colquirrumi claims. Despite being unprofitable and having experienced increased losses over five years, Regulus benefits from a seasoned management team and board with extensive tenure. The company is debt-free and maintains sufficient cash runway for over three years based on current free cash flow levels. While short-term assets significantly exceed liabilities, earnings have not shown growth compared to industry standards.

• Click here and access our complete financial health analysis report to understand the dynamics of Regulus Resources.

• Gain insights into Regulus Resources’ past trends and performance with our report on the company’s historical track record.

TSXV:REG Financial Position Analysis as at Nov 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$65.28 million.

Operations: Wallbridge Mining Company Limited does not have any reported revenue segments.

Market Cap: CA$65.28M

Wallbridge Mining Company Limited, with a market cap of CA$65.28 million, is a pre-revenue entity focusing on gold exploration and development. The company recently announced significant high-grade gold intercepts from its Martiniere project, which could indicate potential resource expansion. Despite being debt-free, Wallbridge faces challenges with short-term assets not covering long-term liabilities and has experienced shareholder dilution over the past year. Recent private placements raised CA$6.23 million to support ongoing exploration efforts. The management team is relatively new, while the board has more experience with an average tenure of 3.9 years.

• Navigate through the intricacies of Wallbridge Mining with our comprehensive balance sheet health report here.

• Assess Wallbridge Mining’s previous results with our detailed historical performance reports.

TSX:WM Financial Position Analysis as at Nov 2024Seize The Opportunity

• Navigate through the entire inventory of 960 TSX Penny Stocks here.

• Already own these companies? Bring clarity to your investment decisions by linking up your portfolio with Simply Wall St, where you can monitor all the vital signs of your stocks effortlessly.

• Simply Wall St is a revolutionary app designed for long-term stock investors, it’s free and covers every market in the world.

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• Jump on the AI train with fast growing tech companies forging a new era of innovation.

• Find companies with promising cash flow potential yet trading below their fair value.

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 TSXV:GIP TSXV:REG 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

• Significantly high institutional ownership implies Freeport-McMoRan's stock price is sensitive to their trading actions

• 50% of the business is held by the top 17 shareholders

• Insiders have sold recently

A look at the shareholders of Freeport-McMoRan Inc. (NYSE:FCX) can tell us which group is most powerful. With 85% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.

Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.

Let's delve deeper into each type of owner of Freeport-McMoRan, beginning with the chart below.

View our latest analysis for Freeport-McMoRan

NYSE:FCX Ownership Breakdown November 22nd 2024What Does The Institutional Ownership Tell Us About Freeport-McMoRan?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

As you can see, institutional investors have a fair amount of stake in Freeport-McMoRan. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Freeport-McMoRan's historic earnings and revenue below, but keep in mind there's always more to the story.

NYSE:FCX Earnings and Revenue Growth November 22nd 2024

Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Freeport-McMoRan is not owned by hedge funds. The company's largest shareholder is The Vanguard Group, Inc., with ownership of 8.5%. For context, the second largest shareholder holds about 8.3% of the shares outstanding, followed by an ownership of 7.5% by the third-largest shareholder.

After doing some more digging, we found that the top 17 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.

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. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.

Insider Ownership Of Freeport-McMoRan

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.

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

Our information suggests that Freeport-McMoRan Inc. insiders own under 1% of the company. Being so large, we would not expect insiders to own a large proportion of the stock. Collectively, they own US$301m of stock. In this sort of situation, it can be more interesting to see if those insiders have been buying or selling.

General Public Ownership

With a 14% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Freeport-McMoRan. 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 Freeport-McMoRan better, we need to consider many other factors.

I like to dive deeper into how a company has performed in the past. You can access this interactive graph of past earnings, revenue and cash flow, for free.

If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

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

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.

We recently compiled a list of the Jim Cramer Recently Discussed These 7 Stocks. In this article, we are going to take a look at where Freeport-McMoRan Inc. (NYSE:FCX) stands against the other stocks Jim Cramer recently discussed.

Jim Cramer, host of Mad Money, recently shared his thoughts on how geopolitical concerns, particularly the recent nuclear threat, can significantly impact investor behavior. He pointed out that when such threats arise, investors typically become more cautious and often seek safer investments, such as U.S. Treasury bonds.

Cramer referred to this phenomenon as a "flight-to-quality," a pattern that has become particularly noticeable in the context of rising bond yields. He commented:

“We've had a bad bond market of late with rates going up and this Russian new concern changed the direction of bonds as these flight-to-quality buyers drove bonds up and interest rates lower.”

Cramer explained that fast traders are well aware of how to react to rising long-term interest rates. Their instinct is to invest in tech stocks, regardless of whether bond rates are actually decreasing. According to Cramer, it’s a predictable move that, when bond prices rise and yields fall, investors inevitably turn to tech stocks.

This holds true even in cases where investors are seeking out treasuries because of a flight to quality or because inflation is easing. He emphasized that, whenever there is a rally in bonds and a dip in bond yields, it’s almost automatic that tech stocks will see increased investment. He added:

“Next time nukes are threatened and you see a flight-to-quality, remember this, the highest quality is the Magnificent Seven.”

READ ALSO Jim Cramer’s Lightning Round: 8 Stocks to Watch and Jim Cramer Is Focused on These 15 Stocks This Week

Cramer also discussed how the market might react to potential trade policy changes, particularly the threat of tariffs under President-elect Donald Trump. He referred to an analysis by Jessica Inskip, the director of investor research at StockBrokers.com, which suggested that the market was largely unaffected by Trump’s pre-election threats of tariffs.

“The charts interpreted by Jessica Inskip suggest that tariffs had little impact on the market until they actually materialized during Trump’s first term, all the saber-rattling beforehand didn’t do much damage. Even when the tariffs actually hit and the market sold off, we eventually erased those losses the moment that the Fed stopped raising interest rates. So until the tariffs actually hit, Inskip says, you can take a page from Taylor Swift and Shake It Off… I think she’s got a real good point.”

Our Methodology

For this article, we compiled a list of 7 stocks that were discussed by Jim Cramer during the recent episodes of Mad Money. We listed the stocks in ascending order of their hedge fund sentiment as of the third quarter, which was taken from Insider Monkey’s database of 900 hedge funds.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

A large open-pit copper mine with heavy machinery extracting minerals from the earth.

Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Holders: 74

Discussing copper stocks like Freeport-McMoRan Inc. (NYSE:FCX), Cramer said:

“I don't like the copper stocks and copper doesn't yield a lot here, 1.36. I don't like Freeport-McMoRan. I just don't wanna own, I don't wanna own them. I mean, you know, their time has come and gone.”

Freeport-McMoRan (NYSE:FCX) is involved in the extraction of mineral resources across North America, South America, and Indonesia. The company primarily focuses on exploring copper, gold, molybdenum, silver, and various other metals. According to S&P Global on November 6,  Donald Trump's victory in the U.S. presidential election caused a drop in copper prices, primarily due to the prospect of high tariffs, potential rollbacks of energy transition policies, and a strengthening U.S. dollar.

Ole Hansen, head of commodity strategy at Saxo Bank, mentioned on November 6 that "the risk of China tariffs and attempts to kill the [Inflation Reduction Act] are likely to weigh on prices, especially copper." Analysts predict that tariffs could dampen global growth and reduce demand for metals, which would put downward pressure on industrial metal prices.

Colin Hamilton, a commodities analyst at BMO Capital Markets, stated that the tariffs could hinder growth and delay progress on metals-intensive net-zero goals, particularly due to the absence of viable alternatives to China's technological dominance in energy transition technologies.

However, in the short term, Hansen believes copper prices could rebound following the sharp decline on November 6, as any new tariffs are likely to take several months to be implemented. He added, "But, overall, the global economy will hold its breath."

Overall FCX ranks 2nd on our list of the stocks Jim Cramer recently discussed. While we acknowledge the potential of FCX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FCX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

 

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

Over the last 7 days, the Australian market has risen 1.5%, contributing to a 17% increase over the past year, with earnings forecasted to grow by 12% annually. For investors interested in smaller or newer companies, penny stocks—despite their somewhat outdated name—can still present intriguing opportunities when backed by strong financials. This article explores several penny stocks that stand out for their financial strength and potential for long-term growth.

Top 10 Penny Stocks In Australia

Name	Share Price	Market Cap	Financial Health Rating
LaserBond (ASX:LBL)	A$0.59	A$68.57M	★★★★★★
Embark Early Education (ASX:EVO)	A$0.81	A$146.79M	★★★★☆☆
Helloworld Travel (ASX:HLO)	A$2.00	A$318.31M	★★★★★★
Austin Engineering (ASX:ANG)	A$0.54	A$310.07M	★★★★★☆
MaxiPARTS (ASX:MXI)	A$1.89	A$103.44M	★★★★★★
SHAPE Australia (ASX:SHA)	A$2.88	A$239.61M	★★★★★★
Navigator Global Investments (ASX:NGI)	A$1.65	A$825.78M	★★★★★☆
West African Resources (ASX:WAF)	A$1.48	A$1.7B	★★★★★★
Atlas Pearls (ASX:ATP)	A$0.15	A$69.71M	★★★★★★
Servcorp (ASX:SRV)	A$4.80	A$483.46M	★★★★☆☆

Click here to see the full list of 1,044 stocks from our ASX Penny Stocks screener.

Here’s a peek at a few of the choices from the screener.

Aurelia Metals

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

Overview: Aurelia Metals Limited is an Australian company involved in the exploration and production of mineral properties, with a market capitalization of A$287.57 million.

Operations: The company’s revenue segments comprise the Hera Mine generating A$0.20 million, the Peak Mine contributing A$207.34 million, and the Dargues Mine adding A$102.36 million.

Market Cap: A$287.57M

Aurelia Metals Limited, with a market cap of A$287.57 million, remains unprofitable despite generating A$309.89 million in sales for the year ending June 2024. The company has seen its debt to equity ratio rise over five years but maintains more cash than total debt and sufficient short-term assets to cover liabilities. While earnings are forecasted to grow annually by 30.18%, challenges persist due to negative return on equity and increasing losses over the past five years at a significant rate. Management and board experience is limited, potentially impacting strategic direction amidst stable weekly volatility in stock performance.

• Click to explore a detailed breakdown of our findings in Aurelia Metals’ financial health report.

• Review our growth performance report to gain insights into Aurelia Metals’ future.

ASX:AMI Financial Position Analysis as at Nov 2024Djerriwarrh Investments

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

Overview: Djerriwarrh Investments Limited is a publicly owned investment manager with a market cap of A$833.34 million.

Operations: The company generates revenue primarily from its portfolio of investments, amounting to A$53.38 million.

Market Cap: A$833.34M

Djerriwarrh Investments Limited, with a market cap of A$833.34 million, has shown stable financial health despite some challenges. The company’s earnings have grown modestly by 5.3% annually over five years, although recent negative growth (-0.3%) contrasts with industry averages. Its dividend yield of 4.83% is not well covered by earnings or cash flows, raising sustainability concerns. However, Djerriwarrh’s debt management is strong; it holds more cash than total debt and maintains high interest coverage (11.7x). Recent board changes include Catherine Brenner’s appointment as Non-Executive Director following Alice Williams’ retirement announcement at the AGM in October 2024.

• Take a closer look at Djerriwarrh Investments’ potential here in our financial health report.

• Examine Djerriwarrh Investments’ past performance report to understand how it has performed in prior years.

ASX:DJW Debt to Equity History and Analysis as at Nov 2024Michael Hill International

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

Overview: Michael Hill International Limited operates jewelry stores and offers related services across Australia, New Zealand, and Canada with a market cap of A$227 million.

Operations: The company generated revenue of A$646.60 million from its operations in Australia, New Zealand, and Canada.

Market Cap: A$227M

Michael Hill International, with a market cap of A$227 million, is currently unprofitable but shows potential for earnings growth at 37.42% per year. Despite a negative return on equity, the company maintains a satisfactory net debt to equity ratio of 23.2%, and its operating cash flow covers debt well (64.1%). Recent sales announcements indicate an upward trend with group sales up 4.3% in early fiscal 2025, driven by strong performance in Australia and Canada. However, challenges remain as interest payments are not well covered by EBIT, and no final dividend was declared for the past fiscal year.

• Unlock comprehensive insights into our analysis of Michael Hill International stock in this financial health report.

• Assess Michael Hill International’s future earnings estimates with our detailed growth reports.

ASX:MHJ Financial Position Analysis as at Nov 2024Turning Ideas Into Actions

• Explore the 1,044 names from our ASX Penny Stocks screener here.

• Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St’s portfolio, where intuitive tools await to help optimize your investment outcomes.

• Discover a world of investment opportunities with Simply Wall St’s free app and access unparalleled stock analysis across all markets.

Contemplating Other Strategies?

• Explore high-performing small cap companies that haven’t yet garnered significant analyst attention.

• Jump on the AI train with fast growing tech companies forging a new era of innovation.

• Find companies with promising cash flow potential yet trading below their fair value.

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 ASX:AMI ASX:DJW and ASX:MHJ.

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

Passive investing in an index fund is a good way to ensure your own returns roughly match the overall market. But if you buy individual stocks, you can do both better or worse than that. Unfortunately the BHP Group Limited (ASX:BHP) share price slid 16% over twelve months. That contrasts poorly with the market return of 22%. On the other hand, the stock is actually up 3.1% over three years.

Now let's have a look at the company's fundamentals, and see if the long term shareholder return has matched the performance of the underlying business.

View our latest analysis for BHP Group

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Unfortunately BHP Group reported an EPS drop of 39% for the last year. This fall in the EPS is significantly worse than the 16% the share price fall. So the market may not be too worried about the EPS figure, at the moment — or it may have expected earnings to drop faster.

The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

ASX:BHP Earnings Per Share Growth November 21st 2024

It's good to see that there was some significant insider buying in the last three months. That's a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..

What About Dividends?

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, BHP Group's TSR for the last 1 year was -11%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!

A Different Perspective

Investors in BHP Group had a tough year, with a total loss of 11% (including dividends), against a market gain of about 22%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 11%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for BHP Group you should be aware of.

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: most of them are flying under the radar).

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

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.

Antimony, a silvery-white metalloid, might not be a household name, but it plays a crucial role in our modern world.

It's a key ingredient in military tech, batteries, and semiconductors.

And now, a global antimony crisis may be looming as demand far outstrips supply…

This obscure metal has become a strategic linchpin in modern warfare – and right now, China holds all the cards.

And today, we're looking at two companies that could help the West break free from China's stranglehold on this key resource.

#1 Military Metals (CSE: MILI, OTCQB: MILIF)

Canadian junior miner Military Metals wasted no time jumping into this game with a series of major antimony acquisitions on two continents–Europe and North America.

They’re hoping to help turn the tables on Chinese domination, and they’re moving quickly to do so.

Military Metals recently announced that it has purchased one of Europe’s largest antimony deposits in Slovakia with a historical resource.

One of the properties acquired is Trojarova. This is a Soviet-era resource with an initial discovery from the 1950s and prior development in the ‘80s and ‘90s. It’s already seen two phases of exploration. According to Military Metals CEO Scott Eldridge, the Slovakian government’s earlier exploration was halted before they reached the richest part of the deposit.

Source: Military Metals

Back then, the Cold War was winding down, and what would follow next was a destocking and the Strategic Arms Reduction Treaty (START) between the Soviets and the United States. Antimony was no longer critical.

That’s all changed now. The world is at war.

And Trojarova, with a historical resource of over 60,998.4 tons of antimony of in situ value worth around $2 billion at today’s spot prices—could become a military kingmaker. Perpetua Resources has 90,000 tons of Antimony. These 2 companies are the largest Antimony companies in N.America.

Figure 1 Military Metals. (CSE: MILI, OTCQB: MILIF): 

For Slovakia, it could mean new status as a European supplier of a key national defense critical metal at a time when Germany is certain it will go to war with Russia in the next few years.

The company anticipates that the robust mining infrastructure in Slovakia aligns perfectly with the European Union's Critical Raw Materials Act, opening avenues for potential EU funding as it advances these projects toward production.

In March 2024, the European Union allocated 500,000,000 euro under the Act in Support of Ammunition Production (ASAP) to boost output capacity to 2 million shells annually by the end of 2025. But the Western militaries have a major problem.

With the European Union cornered, Military Metals Corp. moved to grab antimony resource shares in North America, too–in Canada’s Nova Scotia, where it acquired the West Gore Antimony Project–one of Canada’s largest antimony mines and a hero of WWI supplies.

With historical drilling results indicating over 7 meters of 10.6 gpt gold and 3.4% antimony, Military Metals is planning to score a huge antimony victory for the home front. Just a month after securing West Gore, it moved to further consolidate the territory around it in an October 24th, 2024 LOI to acquire more claims in a strategic flanking move.

Eldridge is expecting the supply crunch to snowball, with antimony prices already doubling this year, and poised to keep going into next year. Military Metals is now strategically positioned as a leading developer of the metal that will make or break the Western world in global warfare.

#2 Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources’ (NASDAQ: PPTA) flagship Stibnite Gold Project in Idaho is not only one of the largest open-pit gold mines in the United States–it is also set to be the country’s only domestic source of antimony.

According to the company, the mine–a key player for Allied Forces in WWII–could end up supplying some 35% of U.S. antimony demand in the first six years of production.

Federal support for Stibnite has been significant, with the Department of Defense awarding Perpetua Resources up to $34.6 million in additional funding in February of this year under the existing Technology Investment Agreement (TIA) through Title III of the Defence Production Act (DPA), then receiving a letter of interest for a $1.8 billion loan from the U.S. Export-Import Bank (EXIM) earlier this year to help develop the mine.

This potential financing, which offers a 15-year term at competitive rates, is a rare backing that underscores the project’s importance to national security, particularly as the U.S aims to reduce its reliance on Chinese mineral imports. In fact, the loan would be one of the largest investments ever in a mine by the U.S. government.

In a further show of government support, the Pentagon has already committed nearly $60 million under the Defense Production Act to advance Stibnite’s permitting process, emphasizing the mine’s role in securing a domestic antimony supply chain. Perpetua Resources said in September this year that it expected to be issued the final permit for the mine this December.

Source: Perpetua Resources Investor Presentation, October 2024

With bipartisan support and no expected regulatory hurdles due to federal interest, Perpetua Resources presents a unique opportunity and analysts are taking note.

Just a month ago, Roth MKM increased the stock’s target price to $15, signaling a projected 45% return as Perpetua Resources advances toward production.

High institutional interest and the project’s potential for environmental remediation and restoration of fish spawning areas reinforce Perpetua Resource’s long-term value and align the company with broader U.S. strategic and environmental objectives.

Bonus stocks to keep an eye on:

Cleveland-Cliffs Inc. (NYSE:CLF)

Cleveland-Cliffs is the largest flat-rolled steel producer in North America and a major supplier of iron ore pellets. The company is integral to the US defense industry, providing essential materials for a wide range of applications. Their steel is used in the construction of military vehicles, ships, aircraft, and infrastructure, as well as in the manufacturing of critical components for weapons systems.

Cleveland-Cliffs' position as a leading domestic steel producer is vital for ensuring the stability and self-reliance of the US defense industrial base. By sourcing steel domestically from companies like Cleveland-Cliffs, the US can reduce its dependence on foreign suppliers and mitigate potential supply chain disruptions during times of conflict or geopolitical instability. This reliable access to high-quality steel is essential for maintaining the production of critical defense equipment and ensuring the readiness of the US military.

Moreover, Cleveland-Cliffs' commitment to sustainable practices, such as responsible mining and the use of renewable energy sources, aligns with the growing emphasis on environmental stewardship within the defense sector. By minimizing its environmental impact and promoting responsible resource management, Cleveland-Cliffs contributes to a more sustainable and resilient defense industrial base.

Southern Copper Corporation (NYSE: SCCO)

Southern Copper Corporation is one of the largest integrated copper producers in the world, with significant mining and refining operations in Mexico and Peru. Copper is a critical material for the defense industry, used extensively in the production of ammunition, electrical wiring, and electronic components for various military applications.

Southern Copper's large-scale production capacity and its commitment to operational efficiency make it a reliable supplier of copper to the US defense industry. A stable supply of copper is crucial for maintaining the production of essential defense equipment and ensuring the operational readiness of the US military.

Furthermore, Southern Copper's focus on sustainable mining practices and community development contributes to responsible sourcing of this critical material. By minimizing its environmental footprint and engaging with local communities, Southern Copper promotes ethical and sustainable practices within the defense supply chain.

Cameco Corp (NYSE: CCJ)

Cameco Corporation is one of the world's largest providers of uranium fuel, a critical component for nuclear power generation and the production of nuclear weapons. Cameco's operations, primarily located in Canada and the United States, play a vital role in ensuring a secure and reliable supply of uranium for both defense and civilian nuclear applications.

Cameco's uranium mining and processing activities are essential for maintaining the US nuclear deterrent and ensuring the continued operation of nuclear-powered aircraft carriers and submarines. A stable supply of uranium fuel is vital for national security, as it underpins the US's nuclear capabilities and its ability to project power globally.

Furthermore, Cameco's commitment to safety and environmental responsibility is crucial for the sustainable and ethical sourcing of uranium.

By adhering to stringent safety standards and minimizing the environmental impact of its operations, Cameco contributes to the responsible management of nuclear materials and supports the long-term viability of the nuclear industry.

Teck Resources Limited (NYSE:TECK)

Teck Resources is a diversified mining company headquartered in Vancouver, Canada. It is one of the world's largest producers of zinc and copper and also produces other commodities such as coal, lead, and silver. Teck operates mines and processing facilities in Canada, the United States, Chile, and Peru.

Teck's zinc operations are located in Canada, the United States, and Peru. The company is the world's second-largest producer of zinc, with a production capacity of over 800,000 tonnes per year. Teck's zinc is used in a variety of applications, including galvanized steel, batteries, and chemicals.

Teck's operations are also significant for their contribution to the global supply of battery metals. Zinc is a key component of many types of batteries, including lead-acid batteries and nickel-zinc batteries. Teck's zinc production is therefore essential for the growing demand for batteries in electric vehicles and other applications.

Steel Dynamics (NASDAQ: STLD)

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States. The company produces a wide range of high-quality steel products, including flat roll steel, structural steel, and rail, which are essential for various industries, including the defense sector. From the construction of military vehicles and ships to the building of infrastructure and manufacturing of critical components, steel remains a foundational material for national defense.

A strong and resilient domestic steel industry is vital for ensuring national security. Steel Dynamics' production capacity and commitment to technological advancement contribute to the stability and self-reliance of the U.S. defense industrial base. By sourcing steel from domestic producers like Steel Dynamics, the U.S. can reduce its dependence on foreign suppliers and ensure that it has access to the necessary materials to support its defense needs in times of crisis or geopolitical instability.

Furthermore, Steel Dynamics' focus on sustainable practices and environmental stewardship is important for ensuring the long-term viability of the domestic steel industry. By investing in energy-efficient technologies and minimizing its environmental impact, the company contributes to a more sustainable and resilient defense industrial base. This is crucial for national security, as it ensures that the production of steel for defense applications is conducted in a manner that is both environmentally responsible and economically sustainable.

Reliance Steel & Aluminum (NYSE: RS)

Reliance Steel & Aluminum is a large metals service center company that provides a wide range of metal processing and distribution services to customers in various industries, including aerospace, defense, and infrastructure. The company's ability to source and process a diverse range of metals makes it a valuable partner to the defense industry, which relies on specialized metals for the production of advanced weapons systems and equipment.

Reliance Steel & Aluminum's extensive network of service centers across North America provides a reliable and efficient supply chain for defense contractors. The company's ability to deliver the right materials at the right time is essential for maintaining the production schedules of critical defense programs. This ensures that the U.S. military has access to the equipment and weapons systems it needs to fulfill its missions and protect national security.

Furthermore, Reliance Steel & Aluminum's focus on value-added processing services, such as cutting, forming, and machining, helps defense contractors reduce their manufacturing costs and improve efficiency. This contributes to the affordability and competitiveness of U.S. defense systems in the global market. By providing these essential services, Reliance Steel & Aluminum plays a vital role in supporting the strength and readiness of the U.S. military.

ArcelorMittal (NYSE: MT)

ArcelorMittal is the world's leading steel and mining company, with a significant presence in the United States. The company's vast production capacity and global reach make it a critical supplier of steel to various industries, including the defense sector. ArcelorMittal's ability to produce a wide range of steel products, from basic sheet steel to specialized high-strength alloys, is essential for the manufacturing of vehicles, ships, and infrastructure.

ArcelorMittal's commitment to research and development ensures that the company remains at the forefront of steelmaking technology. This is crucial for meeting the evolving demands of the defense industry, which requires advanced materials to produce lighter, stronger, and more resilient equipment.

Furthermore, ArcelorMittal's focus on sustainability and responsible sourcing is important for ensuring the long-term viability of the steel industry and its ability to support national security needs. By minimizing its environmental impact and promoting ethical labor practices, ArcelorMittal contributes to a more sustainable and responsible defense supply chain.

MP Materials (NYSE: MP)

MP Materials owns and operates Mountain Pass, the only integrated rare earth mining and processing site in North America. Rare earth elements are essential for a wide range of technologies, including defense applications such as guidance systems, lasers, and radar. MP Materials' role in securing a domestic supply of these critical minerals is vital for reducing dependence on foreign sources, particularly China, which currently dominates the rare earth market.

The concentration of rare earth production in China poses a potential risk to national security, as it creates a vulnerability to supply chain disruptions or geopolitical tensions. MP Materials' operations at Mountain Pass contribute to diversifying the rare earth supply chain and ensuring that the U.S. has access to these critical materials for its defense needs. This reduces reliance on potentially adversarial nations and strengthens the resilience of the U.S. defense industrial base.

Furthermore, MP Materials' commitment to environmental responsibility and sustainable mining practices is important for ensuring the long-term viability of its operations and the responsible sourcing of rare earth elements. By minimizing its environmental impact and adhering to high ethical standards, MP Materials contributes to a more secure and sustainable defense supply chain.

NioCorp Developments Ltd. (NASDAQ: NB)

NioCorp Developments is focused on developing the Elk Creek Superalloy Materials Project in Nebraska, which is expected to be a significant source of niobium, scandium, and titanium. Niobium is a critical material used in the production of high-strength steel alloys, which are essential for the construction of military vehicles, aircraft, and infrastructure. Scandium is used in advanced aluminum alloys for aerospace applications, and titanium is a crucial material for aerospace and defense applications due to its strength, lightness, and corrosion resistance.

NioCorp's Elk Creek project has the potential to establish a domestic supply of these critical minerals, reducing reliance on foreign sources and strengthening the U.S. defense industrial base. By securing access to these materials, the U.S. can ensure the production of advanced military equipment and maintain its technological edge in the defense sector.

Furthermore, NioCorp's commitment to responsible mining practices and community engagement is important for ensuring the long-term sustainability of its operations and the responsible sourcing of critical minerals. By prioritizing environmental protection and working closely with local communities, NioCorp contributes to a more secure and socially responsible domestic supply chain for critical minerals used in defense applications.

By. Tom Kool

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. The forward-looking statements in this publication are based on current expectations and assumptions about future events, geopolitical developments, trade policies, market conditions, the company’s strategic initiatives to address the critical shortage of antimony, and current expectations, estimates, and projections about the industry and markets in which the company operates.  Factors that could change or prevent these statements from coming to fruition include, but are not limited to, the potential impact of the upcoming U.S. elections on various industries and specific companies, changes in government policies, market conditions, regulatory developments, geopolitical events and the company’s ability to successfully acquire and develop new antimony resources and fluctuations in antimony prices. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

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WHITE ROCK, BC / ACCESSWIRE / November 21, 2024 / Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company") is pleased to announce that it is undertaking a non-brokered private placement to raise up to $1,000,000 (the "Offering"). All dollar amounts in this news release are in Canadian funds.

The Offering:The Offering will consist of a combination of non-flow-through units ("NFT Units") at a price of $0.13 per NFT Unit, and flow-through shares (the "FT Shares") at a price of $0.16 per FT Share, for aggregate proceeds of up to $1,000,000. It is expected that this will comprise $750,000 of NFT Units and $250,000 of FT Shares.

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.

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.

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. Finder's fees will be payable in connection with the Offering.

The Company's Chairman, Chad Williams, is expected to participate in this financing by subscribing for $250,000 of NFT Units.

Insider ParticipationCertain insiders of the Company are expected to participate in the Offering and as a result, each of the Offering and the Incentive Program may constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The Company expects to rely on the exemptions from the formal valuation requirements of MI 61-101 contained in section 5.5(a) and (b) of MI 61-101 on the basis that the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company and no securities of the Company are listed on a specified market set out in such section, and the Company further relies on the exemption from the minority shareholder approval requirements of MI 61-101 contained in Section 5.7(1)(a) of MI 61-101 on the basis of the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company.

Caution to US InvestorsThis 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, CEOFor 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 InformationThis 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.

Brisbane, Queensland, Australia–(Newsfile Corp. – November 21, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce the launch of SUPER G®, a graphene slurry which can be used to enhance the performance of lithium-ion batteries. This breakthrough product has the potential to reshape the future of energy storage, offering battery manufacturers an innovative solution that optimizes efficiency, power, and longevity.

Figure 1

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/230859_gmg_figure_1.jpg

Unleashing the Power of Graphene

SUPER G® is a graphene slurry which has been developed by GMG over the last 3 years for GMG's own Graphene Aluminium-Ion Battery which has unique properties of high electrical conductivity, low charge transfer resistance and high density compared to other carbon battery additives and materials used in lithium-ion batteries.

The Graphene comes from GMG's self-developed graphene production system and is then processed through a number of steps in the co-located pilot plant and finally into a liquid graphene product which we believe will be able to be added into or coated onto either a customer's lithium-ion battery cathode or anode production with a 0.5-2% dosage by weight.

GMG is currently engaged in confidential discussions with multiple battery manufacturers and industry players to explore the potential testing and supply of SUPER G®. These discussions underscore the growing demand for high-performance materials that can push the boundaries of energy storage technology.

Exceptional Performance Confirmed by Oxford University

A recent study conducted by Oxford University has confirmed the exceptional performance of GMG's SUPER G®. Key findings include:

SUPER G® demonstrates 2.5 times lower mean ionic resistivity compared to standard graphite, as shown in Figure 2. Lower pore ionic resistivity will improve battery efficiency, charge and discharge rates.

Figure 2: Ionic Resistivity of Graphite vs. GMG SUPER G® (100 µm thick, 30% porous vs. 125 µm thick)

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/230859_gmg_figure2.jpg

SUPER G® features multimodal particle distribution (~20 µm large particles + sub-1 µm particles), which increases energy density for more powerful, longer lasting batteries.

Figure 3: Cross-Section of SUPER G® with Wide-Beam Ar+ Ion PolishingTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/230859_gmg_figure3.jpg

Unlike conventional materials, SUPER G® maintains its integrity during calendaring (compression onto battery foil), ensuring no significant damage to the binder layer. This is crucial for maintaining battery longevity and performance.

Figure 4: Nyquist Plot of EIS Response – Calendared vs. Uncalendared SUPER G®

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/230859_gmg_figure4.jpg

Table 1 shows SUPER G® in comparison with the commonly used conductivity carbon additives used in lithium-ion battery industry- it shows many attractive attributes for SUPER G® including 2-3 times higher bulk density and 3 times greater surface area than the industry standard carbon additive.

Property	Standard Industry Lithium-Ion Battery Carbon Additive	GMG SUPER G®
Bulk Density	0.12-0.25 g/cm³	0.3-0.4 g/cm³
Surface Area	~60 m²/g	250 m²/g
Typical Loading in Electrode	2-5 wt%	0.5-2 wt %
High-Rate Performance	Standard application	Excellent for very high-rate applications

 

Table 1: Performance Comparison of GMG SUPER G® and Commonly used Conductivity Additive

GMG's Graphene has been found to increase rate tolerance of lithium-ion batteries – which is a desirable quality that allows the battery to be charged and discharged at various rates (faster and slower) with less negative impact on the capacity of the battery.

About GMG:

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications.

The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving coating), lubricants and fluids.

In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").

GMG's 4 critical business objectives are:

Produce Graphene and improve/scale cell production processes

Build Revenue from Energy Savings Products

Develop Next-Generation Battery

Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223

• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

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

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the potential of SUPER G® to be an additive to improve Lithium-Ion Batteries.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation the potential of SUPER G® to be an additive to improve Lithium-Ion Batteries. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the potential of SUPER G® to be an additive to improve Lithium-Ion Batteries, or at all, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 3, 2024 available for review on the Company's profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230859

Vancouver, British Columbia–(Newsfile Corp. – November 21, 2024) – Pacific Bay Minerals Ltd (TSXV: PBM) ("Pacific Bay" or the "Company"), a mineral exploration company, is pleased to announce the completion of its field program undertaken at its 100% wholly owned, royalty-free Sphinx Mountain Rare Earth Element project, approximately 45 kilometers North of Dease Lake, British Columbia.

The project included geological mapping, prospecting, ground-based geophysics, stream-sediment samples, soil samples and rock samples covering the majority of the project's claim group. Rocks and Stream sediments have been submitted to the lab along with blanks and certified reference materials and assays are pending. Soils are awaiting to be analyzed via XRF methods.

A total of 189 soil samples, 25 Stream sediment samples, and 3 rock samples were collected. Stream and Rock samples are awaiting assay. QA/QC samples including certified reference material, field duplicates and blanks were inserted into sample intervals. Please see attached map figure for more information.

The program was intended to follow up on historic stream-sediment results returning values as high as 1.19% TREO* to give direction to future exploration activities, including airborne geophysics, and additional geological mapping and prospecting with the intent to define drill targets.

*TREO is the expressed summation of La2O3 + Ce2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3

Map Figure 1 – Map showing detailed location of the 2024 field program, including soil and stream sediment samples along with historical stream sediment results.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3362/230804_78e8ef108469788a_001full.jpg

About Pacific Bay Minerals Ltd.

Pacific Bay currently has a portfolio of properties in British Columbia, including the Haskins Reed, 30km East of the Cassiar townsite, and the newly added Sphinx Mountain Project. Short term focus will be spent on exploring these projects and identifying new targets within the highly prospective regions for both precious and transitional metals.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. David Bridge, P.Geo., a consultant of the Company, who is a "Qualified Person" as defined in NI 43-101

For more Information please contact:

Reagan Glazier, CEO, President and Director

E-mail: reagan@pacificbayminerals.com

Telephone:+1 403-815-6663

Forward-Looking Statements

This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", "intends", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward looking statements, including but not limited to the Company's expectations regarding the closing date of the Offering, the anticipated size of the Offering and other matters. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect the Company's current judgment regarding the direction of its business, actual results will may vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230804

Key Takeaways

• SQM earnings per share in Q3 was 46 cents, far below the Zacks estimate of 64 cents

• TSQM shares have lost 23.6% the past year compared with the Fertilizers industry decline of 13.1%.

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Sociedad Quimica y Minera de Chile S.A. SQM logged a profit of $131.4 million or 46 cents per share in third-quarter 2024. The figure marks a decline from a profit of $479.4 million or $1.68 per share registered in the year-ago quarter. Earnings per share also fell short of the Zacks Consensus Estimate of 64 cents per share.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.SQM generated revenues of $1,076.9 million in the quarter, down around 41% year over year. The figure missed the Zacks Consensus Estimate of $1,090.2 million. While SQM saw volume growth in almost all of its business lines, it faced headwinds from weaker year-over-year pricing in the quarter.

 

Sociedad Quimica y Minera S.A. Price, Consensus and EPS SurpriseSociedad Quimica y Minera S.A. Price, Consensus and EPS Surprise

Sociedad Quimica y Minera S.A. price-consensus-eps-surprise-chart | Sociedad Quimica y Minera S.A. Quote

SQM’s Segment Highlights

Revenues from the Lithium and Derivatives segment fell around 61% year over year to $497.2 million in the reported quarter. Despite a roughly 18% increase in lithium sales volumes, the downside was caused by a sharp 67% reduction in average sales prices.The Specialty Plant Nutrients (SPN) segment generated revenues of $249.1 million, up around 12% year over year. This upside was driven by higher sales volumes, though it was partly tempered by lower average sales prices.The Iodine and Derivatives segment posted revenues of $233.5 million, up around 10% from the prior year’s levels, benefiting from higher sales volumes.Revenues from the Potassium business fell around 9% year over year to $68.2 million as higher sales volumes were more than offset by lower average sales prices.The Industrial Chemicals unit recorded sales of $18.6 million, down roughly 57% year over year. The downside was due to significantly lower sales volumes despite higher average sales prices.

SQM’s Financials

The company’s cash and cash equivalents were $1,565.4 million at the end of the quarter, up around 52% sequentially. Long-term debt was $3,784.4 million, up roughly 28% from the prior quarter.

SQM’s Outlook

SQM reaffirmed its lithium volume guidance, expecting between 190,000-195,000 thousand metric tons of product sold this year.For the SPN unit, the company expects its sales volumes to surpass its projected market growth of 17% for 2024. SQM sees its sales volumes grow around 20% year-over-year in 2024. The company also expects the average realized sales prices in the Iodine and Derivatives segment to be higher sequentially in the fourth quarter of 2024. It is seeing a strong demand growth in the iodine market mainly driven by X-ray contrast media and other industrial applications and expects the iodine market to grow roughly 7% year over year in 2024. SQM now expects its potassium sales volumes to reach 620,000 metric tons in 2024 factoring in the delay in the shipment of product rescheduled for 2025.

SQM Stock’s Price Performance

SQM’s shares have lost 23.6% over a year compared with the Zacks Fertilizers industry’s decline of 13.1%.

Zacks Investment Research

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SQM’s Zacks Rank & Other Basic Materials Releases

SQM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.DuPont de Nemours, Inc. DD logged adjusted earnings of $1.18 per share in the third quarter, topping the Zacks Consensus Estimate of $1.04. DD raised its full-year 2024 projections for operating EBITDA and adjusted earnings per share. The Chemours Company CC recorded adjusted earnings of 40 cents for the third quarter, topping the Zacks Consensus Estimate of 32 cents. CC expects consolidated net sales to decline in the mid to high-single digits sequentially in the fourth quarter. Consolidated adjusted EBITDA is forecast to be down in the high teens to low 20% range compared with third-quarter 2024 results. PPG Industries, Inc. PPG logged third-quarter adjusted earnings per share of $2.13, missing the Zacks Consensus Estimate of $2.15. PPG anticipates flat organic sales and adjusted earnings per share at the bottom end of the $8.15 to $8.30 range for full-year 2024.

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• Specialty Plant Nutrition Volume Growth: More than 20% year-on-year increase.

• Specialty Plant Nutrition Revenue Growth: Increased by more than 12% despite lower prices.

• Lithium Sales Volume: Over 51,000 metric tonnes, an 18% growth year-on-year.

• Lithium Average Realized Prices: 24% lower than the second quarter of this year.

• Warning! GuruFocus has detected 7 Warning Sign with SQM.

Release Date: November 20, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Sociedad Quimica Y Minera De Chile SA (NYSE:SQM) reported positive volume growth in almost all business lines compared to last year.

• Specialty plant nutrition volumes increased by more than 20% year-on-year, boosting revenues by over 12%.

• Iodine prices have shown a subtle but continued increase, with strong demand growth and limited supply potentially leading to further price rises.

• The company posted its first revenue from Mount Holland and initiated its first spodumene concentrate bidding event, enhancing lithium market efficiency.

• Lithium sales volumes grew by 18% year-on-year, demonstrating strong market demand despite price pressures.

Negative Points

• Lithium prices continued a downward trend, with average realized prices 24% lower than the previous quarter.

• The lithium market is experiencing temporary oversupply, pressuring prices despite strong demand growth.

• There is a risk of negative profitability and start-up issues at the Kwinana refinery, similar to competitors’ experiences.

• The company is under investigation by the SEC for potential violations of the Foreign Corruption Practices Act (FCPA).

• SQM’s iodine demand growth is expected to moderate to 2.5% next year, with new supply potentially insufficient to meet demand.

Q & A Highlights

Q: Does SQM need to cut volume to support the lithium market given the current pricing trends? A: Felipe Smith, Commercial Vice President, SQM Salar, stated that SQM plans to maintain its sales volume target of 195,000 tonnes for the year and does not plan any curtailment. Instead, they aim to increase sales in line with production growth.

Q: What is the status of the Mount Holland project in Australia, and how does it impact SQM’s operations? A: Mark Fones, CEO of SQM International Lithium, explained that the Mount Holland project is ramping up, with expected production of 110,000 to 130,000 tonnes of spodumene concentrate this year. The Kwinana refinery is 91% complete, with commissioning underway, and first product expected by mid-2025. SQM remains flexible in selling either spodumene concentrate or lithium hydroxide.

Q: What is the outlook for the lithium market in 2025, and how does SQM view the market balance? A: Pablo Hernandez, Senior Director of Business Strategy and Development, noted that global lithium demand remains strong, driven by the EV market. They expect demand to grow by 16% to 18% annually over the next five years, with EV penetration increasing significantly. Supply is expected to grow in line with demand, though some projects may be disincentivized if prices remain low.

Q: Can you provide an update on the iodine market and expected new capacity? A: Juan Pablo Bellolio, Commercial Vice President of Iodine and Industrial Chemicals, stated that the iodine market is around 38,000 to 39,000 tonnes, with demand growing by 7% this year. New supply is expected in the second half of 2025 and 2026, but it may not meet demand growth, leading to strong prices.

Q: What is the status of the agreement with Codelco and the SEC investigation? A: Ricardo Ramos Rodriguez, CEO, mentioned that the agreement with Codelco is progressing as expected, with no specific issues to report. Gerardo Illanes, CFO, added that SQM is cooperating with an SEC inquiry related to potential FCPA violations, and the investigation is a nonpublic fact-finding inquiry with no conclusions reached yet.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This article first appeared on GuruFocus.