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(Bloomberg) — BHP Group expects its $10.6 billion potash mine in Canada to make money even with weakened fertilizer prices, says the head of the project.

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REE Automotive Ltd.

TEL AVIV, Israel, Sept. 18, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced it will report its second quarter 2024 financial results before the market opens on Sept. 26, 2024.

A webcast and conference call will be held on the same date at 8:30 a.m. ET to review the Company’s financial results for the three months ended June 30, 2024, discuss recent events and conduct a question-and-answer session.

Event: REE’s Second Quarter Financial Results Conference CallDate: Thursday, Sept. 26, 2024Time: 8:30 a.m. ETConference Call Dial-In: https://register.vevent.com/register/BIabb1c34cdf204c199cebc65754c659faWebcast Registration: https://edge.media-server.com/mmc/p/xqamjdtg/Add to calendar https://www.addevent.com/event/US23021184

About REE AutomotiveREE Automotive Ltd. (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a full by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Media ContactMalory Van GuilderSkyya PR for REE Automotive+1 651-335-0585ree@skyya.com

Investor ContactDana RubinsteinChief Strategy Officer for REE Automotiveinvestors@ree.auto

Caution About Forward-Looking StatementsThis communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses REE’s go to market approach and REE’s executive management’s availability for analyst and investor meetings. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.

Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the COVID-19 pandemic, interest rate changes, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.

Compass Minerals (CMP) came out with a quarterly loss of $1.01 per share versus the Zacks Consensus Estimate of a loss of $0.67. This compares to earnings of $1.01 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -50.75%. A quarter ago, it was expected that this minerals producer would post earnings of $0.23 per share when it actually produced earnings of $1.49, delivering a surprise of 547.83%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Compass , which belongs to the Zacks Chemical – Diversified industry, posted revenues of $202.9 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.52%. This compares to year-ago revenues of $207.6 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.

Compass shares have lost about 63.6% since the beginning of the year versus the S&P 500's gain of 18.1%.

What's Next for Compass?

While Compass 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 Compass: 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 -$0.52 on $225.64 million in revenues for the coming quarter and $0.55 on $1.13 billion 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, Chemical – Diversified is currently in the bottom 21% 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.

Stepan Co. (SCL), another stock in the same industry, has yet to report results for the quarter ended September 2024.

This specialty chemicals company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of +1.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Stepan Co.'s revenues are expected to be $564.9 million, up 0.5% from the year-ago quarter.

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

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Zacks Investment Research

OVERLAND PARK, Kan. (AP) — OVERLAND PARK, Kan. (AP) — Compass Minerals International Inc. (CMP) on Tuesday reported a loss of $43.6 million in its fiscal third quarter.

The Overland Park, Kansas-based company said it had a loss of $1.05 per share. Losses, adjusted for restructuring costs, came to $1.01 per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 67 cents per share.

The minerals producer posted revenue of $202.9 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $201.9 million.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMP at https://www.zacks.com/ap/CMP

OVERLAND PARK, Kan., September 17, 2024–(BUSINESS WIRE)–Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today reported preliminary fiscal 2024 third-quarter results.

The following financial results and updated 2024 outlook are preliminary estimates and are subject to change until the filing of the company’s Form 10-Q for the quarter ended June 30, 2024. The company is currently finalizing its fiscal 2024 third-quarter results and thus these preliminary estimates are based solely on information available to management as of the date of this press release. The company’s actual results may differ from these estimates due to the completion of its quarter-end closing procedures, final adjustments and developments that may arise or information that may become available, including with respect to the financial restatements described below, between now and the time the company’s financial results are finalized and included in its Form 10-Q for the quarter ended June 30, 2024. Unless otherwise noted, it should be assumed that time periods referenced below are on a fiscal-year basis.

MANAGEMENT COMMENTARY

"Compass Minerals' core businesses produced strong results in the third quarter. We had solid results in the Salt segment that reflect the robust earnings potential of that business, while we continued to see sequential improvements in realized price, adjusted EBITDA per ton, and adjusted EBITDA margin in the Plant Nutrition segment," said Edward C. Dowling Jr., president and CEO. "It’s disappointing that we have been delayed in sharing the positive performance of the core businesses with the market due to issues surrounding certain historical accounting matters. It is important for the market to know that the core Salt and Plant Nutrition business are performing well, and that we are also focused on positioning the company for better performance in the future. We are building and reinforcing a culture committed to operational excellence and continuous improvement, with an emphasis on improving cash generation and deleveraging the balance sheet. I expect that the improvements that we are making across the business will result in a stronger company and higher returns for our shareholders."

FINANCIAL RESTATEMENT UPDATE

As previously disclosed, Compass Minerals identified misstatements and material weaknesses in its (i) unaudited financial statements included in its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023, (ii) audited financial statements included in its Annual Report on Form 10-K for the period ended Sept. 30, 2023, (iii) unaudited financial statements included in its Quarterly Report on Form 10-Q for the quarterly period ended Dec. 31, 2023, and (iv) unaudited financial statements included in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024. The misstatements primarily relate to certain contingent consideration associated with the company’s acquisition of Fortress North America, LLC, originally disclosed in the company’s Form 8-K filed on July 3, 2024, together with additional identified errors. The company provided an update on the identified misstatements and materials weaknesses in the company’s Form 12b-25 filed Aug. 9, 2024. The issues identified by the company do not materially impact the company's adjusted EBITDA or the fundamentals of the core Salt and Plant Nutrition businesses.

The company is actively engaged with its current and predecessor auditors as the company corrects the errors and restates the affected financial statements. As part of that process, additional audit procedures covering fiscal years 2021 through 2023 have been required, thereby prolonging the process to complete the restatements. These amended financial statements must be completed before the company can file its Form 10-Q for the quarter ended June 30, 2024. To date, no additional material accounting misstatements have been identified as a result of the additional testing being performed; however, the company has not fully completed its review and cannot provide assurance that other errors will not be identified.

Until the restatements are completed, Compass Minerals is limited in the amount of financial information that it can provide. The company is not able to provide an estimate of when it expects the restatements to be completed. The company is providing the following preliminary financial results for the third quarter of 2024 given its assessment that these results are not reasonably expected to be materially impacted by the restatement work described above.

PRELIMINARY QUARTERLY FINANCIAL RESULTS

	Three Months EndedJune 30,
(in millions, except per share data)		2024
Revenue	$	202.9
Operating earnings		5.9
Adjusted operating earnings*		7.4
Adjusted EBITDA*		32.8
Net loss		(43.6	)
Net loss per diluted share		(1.05	)
Adjusted net loss*		(42.1	)
Adjusted net loss* per diluted share		(1.01	)
*Non-GAAP financial measure. Reconciliations to the most directly comparable GAAP financial measure are provided in tables at the end of this press release.

PRELIMINARY QUARTERLY FINANCIAL HIGHLIGHTS

Preliminary adjusted EBITDA of $32.8 million, which includes a non-cash gain of $0.9 million related to the decrease of the Fortress contingent liability discussed below;
Strong Salt segment performance with adjusted EBITDA per ton of $28.05;
Mid-point of Salt business adjusted EBITDA guidance increased $15 million for 2024;
Average sales price for sulfate of potash increased for the second consecutive quarter to $691.27 per ton; and
Plant Nutrition adjusted EBITDA per ton and adjusted EBITDA margin of $128.57 and 18.6%, respectively.

SALT BUSINESS SUMMARY

Preliminary operating earnings for the quarter were $25.9 million and adjusted EBITDA was $41.6 million. Preliminary adjusted EBITDA per ton came in at $28.05. The second half of the fiscal year reflects the normal seasonal change in sales mix as highway deicing volumes decline going into summer months, resulting in increased contribution from the consumer and industrial (C&I) business. Preliminary quarterly operating earnings margin and adjusted EBITDA margin were 16.1% and 25.9%, respectively, for the three months ended June 30, 2024.

Preliminary Salt segment revenue totaled $160.6 million for the third quarter. In the highway deicing business, the company realized an average highway deicing selling price of $77.20 per ton and sales volumes were 1.09 million tons. C&I pricing was $194.35 per ton during the quarter. Associated volumes were 393 thousand tons, which were impacted in the quarter by short-term interruptions in customer processing needs and timing of sales.

PLANT NUTRITION BUSINESS SUMMARY

In the Plant Nutrition business, preliminary operating loss totaled $1.4 million and adjusted EBITDA was $7.2 million for the quarter.

Plant Nutrition preliminary revenue for the quarter totaled $38.8 million. This reflects sales volumes of 56 thousand tons. The average segment sales price for the quarter was $691.27 per ton, which represents a sequential 2% increase in pricing.

FORTRESS NORTH AMERICA UPDATE

Compass Minerals continues to evaluate various alternatives regarding the path forward for Fortress North America. Discussions are ongoing with the U.S. Forest Service (USFS) regarding the evaluation and testing of the company's non-magnesium chloride-based aerial fire retardants.

FINANCIAL POSITION AND LIQUIDITY

The company ended the quarter with $220.8 million of liquidity, comprised of $12.8 million in cash and cash equivalents and $208.0 million of availability under its $375 million revolving credit facility.

At quarter-end, the preliminary consolidated total net leverage ratio was 4.3 times, within the company's net leverage covenant of 6.5 times. The company has amended its credit agreement and receivables financing agreement to accommodate the delay in providing required final compliance certifications related to third quarter of 2024 financial results until Nov. 29, 2024.

PRELIMINARY UPDATED 2024 OUTLOOK

Preliminary updated guidance and commentary for 2024 is reflected below.

Salt Segment
	2024 Range
Highway deicing sales volumes (thousands of tons)	7,400 – 7,500
Consumer and industrial sales volumes (thousands of tons)	1,800 – 1,900
Total salt sales volumes (thousands of tons)	9,200 – 9,400

Revenue (in millions)	$900 – $910
Adj. EBITDA (in millions)	$215 – $225

The outlook for adjusted EBITDA from the Salt segment is improved from guidance provided on May 9, 2024. Anticipated costs related to the curtailment of Goderich mine that were expected to be recognized in 2024 are lower than had been originally forecast, resulting in improved expectations for adjusted EBITDA for the year.

The company continues to work toward reducing salt inventory levels in the coming deicing season and accelerating conversion of excess inventory to cash.

2024/2025 North American Bid Season

Approximately 70% of the company's North American highway deicing bidding process for the upcoming winter season has been completed. Based on bid results to date, which include both positive and negative price changes that reflect regional market conditions and competitiveness, the company expects its average contract selling price for the coming season to be approximately 2% lower than prices in fiscal 2024. Market bid volumes are expected to be down approximately 7% to 10% compared to fiscal 2024, which is consistent with expectations given inventory levels across the service market and producer supply positions following two consecutive mild winters. It is important to distinguish between committed bid volumes, which are used to establish minimum and maximum service levels for certain customers, and expected sales volumes, which will be driven ultimately by winter weather activity in the coming year. Sales volumes can be above or below committed volumes in any given deicing season.

Plant Nutrition Segment
	2024 Range
Sales volumes (thousands of tons)	265 – 275
Revenue (in millions)	$175 – $185
Adj. EBITDA (in millions)	$21 – $26

The revised Plant Nutrition guidance above reflects lower sales volumes and increased costs partially offset by higher realized pricing.

Corporate
	2024 Range
	Fortress1	Other2	Total
Adj. EBITDA (in millions)	$3 – $4	($44) – ($39)	($41) – ($35)

(1)		Fortress contribution includes adjusted EBITDA carried over from its calendar year 2023 USFS take-or-pay contract as well as ongoing overhead costs; no assumptions with respect to 2024 activity with the USFS have been assumed.
(2)		Other adjusted EBITDA includes i) approximately $5 million of lithium-related costs, unchanged from previously provided guidance, and ii) the year-to-date non-cash gain of $23.1 million related to the decline in the valuation of the contingent consideration liability associated with the Fortress acquisition, reflecting quarterly fluctuations of that liability due to changes in the discount rate and the projected business performance used in the valuation.

Projected Corporate segment results shown in the table above include corporate expenses in support of the company's core businesses, operating expenses related to the company's terminated lithium project, Fortress financial results, and the results of DeepStore, the company's records and management services business in the U.K. The improvement in guidance for Other reflects the correction, disclosed in the Form 8-K filed on July 3, 2024, of an error in the calculation of adjusted EBITDA that understated this measure by approximately $10 million in the first half of 2024.

Total Compass Minerals
	2024 Adjusted EBITDA
	Salt	Plant Nutrition	Corporate1	Total
Adj. EBITDA (in millions)	$215 – $225	$21 – $26	($41) – ($35)	$195 – $216

	2024 Capital Expenditures
	Sustaining	Lithium2	Fortress	Total
Capital expenditures (in millions)	$80 – $90	~$30	$5 – $10	$115 – $130

(1)		Includes financial contribution of Fortress and DeepStore.
(2)		Lithium capital expenditures principally relate to items committed to or made prior to the suspension of further investment in the lithium project. As a result of the termination of the lithium project and the related impairment in the first quarter of 2024, a portion of these expenditures that related to committed items that had not been received by Dec. 31, 2023 were not classified as capital expenditures within the consolidated statements of cash flows when paid.

Total capital expenditures for the company in 2024 remain unchanged from the company’s prior guidance and are expected to be within a range of $115 million to $130 million. Approximately $30 million of lithium-associated expenditures are included, principally related to items that were committed to prior to the November 2023 project suspension. The company's projections also include $5 million to $10 million of capital investment in the company's fire-retardant business.

Other Assumptions
($ in millions)	2024 Range
Depreciation, depletion and amortization	$100 – $110
Interest expense, net	$65 – $70
Effective income tax rate (excl. valuation allowance and impairments)	(25%) – (20%)

CONFERENCE CALL

The occurrence and timing of an earnings call to discuss results for the third quarter of 2024 will be dependent on the ultimate completion of the aforementioned restatements.

About Compass Minerals

Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The company’s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, it is working to develop a long-term fire-retardant business. Compass Minerals operates 12 production and packaging facilities with nearly 2,000 employees throughout the U.S., Canada and the U.K. Visit compassminerals.com for more information about the company and its products.

Forward-Looking Statements and Other Disclaimers

This press release may contain forward-looking statements, including, without limitation, statements regarding preliminary results and information, statements about earnings potential and efforts to strengthen the company and improve shareholder returns; management of inventory levels; Fortress North America's path forward; expectations for highway deicing pricing and volumes for the upcoming winter; the restatement of certain of the company’s previously issued financial statements; and the company's outlook for 2024, including its expectations regarding sales volumes, revenue, Adjusted EBITDA, corporate and other expense, depreciation, depletion and amortization, interest expense, tax rates, and capital expenditures. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. The company uses words such as "may," "would," "could," "should," "will," "likely," "expect," "anticipate," "believe," "intend," "plan," "forecast," "outlook," "project," "estimate" and similar expressions suggesting future outcomes or events to identify forward-looking statements or forward-looking information. These statements are based on the company’s current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors, including without limitation (i) weather conditions, (ii) inflation, the cost and availability of transportation for the distribution of the company’s products and foreign exchange rates, (iii) pressure on prices and impact from competitive products, (iv) any inability by the company to successfully implement its strategic priorities or its cost-saving or enterprise optimization initiatives, and (v) the risk that the company may not realize the expected financial or other benefits from its ownership of Fortress North America. For further information on these and other risks and uncertainties that may affect the company’s business, see the "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" sections of the company’s Annual Report on Form 10-K for the period ended Sept. 30, 2023, and its Quarterly Reports on Form 10-Q for the quarters ended Dec. 31, 2023 and Mar. 31,2024, and any amendments thereto, as well as the company's other SEC filings. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law. Because it is not possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or uncertainties.

Non-GAAP Measures

In addition to using U.S. generally accepted accounting principles ("GAAP") financial measures, management uses a variety of non-GAAP financial measures described below to evaluate the company’s and its operating segments’ performance. While the consolidated financial statements provide an understanding of the company’s overall results of operations, financial condition and cash flows, management analyzes components of the consolidated financial statements to identify certain trends and evaluate specific performance areas.

Management uses EBITDA, EBITDA adjusted for items which management believes are not indicative of the company’s ongoing operating performance ("Adjusted EBITDA") and EBITDA margin to evaluate the operating performance of the company’s core business operations because its resource allocation, financing methods and cost of capital, and income tax positions are managed at a corporate level, apart from the activities of the operating segments, and the operating facilities are located in different taxing jurisdictions, which can cause considerable variation in net earnings. Management also uses adjusted operating earnings, adjusted operating margin, adjusted net earnings, and adjusted net earnings per diluted share, which eliminate the impact of certain items that management does not consider indicative of underlying operating performance. The presentation of these measures should not be construed as an inference that future results will be unaffected by unusual or non-recurring items. Management believes these non-GAAP financial measures provide management and investors with additional information that is helpful when evaluating underlying performance. EBITDA and Adjusted EBITDA exclude interest expense, income taxes and depreciation, depletion and amortization, each of which are an essential element of the company’s cost structure and cannot be eliminated. In addition, Adjusted EBITDA and Adjusted EBITDA margin exclude certain cash and non-cash items, including stock-based compensation, impairment charges and certain restructuring charges. Consequently, any measure that excludes these elements has material limitations. The non-GAAP financial measures used by management should not be considered in isolation or as a substitute for net earnings, operating earnings, cash flows or other financial data prepared in accordance with GAAP or as a measure of overall profitability or liquidity. These measures are not necessarily comparable to similarly titled measures of other companies due to potential inconsistencies in the method of calculation. The calculation of non-GAAP financial measures as used by management is set forth in the following tables. All margin numbers are defined as the relevant measure divided by sales. The company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP, as the company is unable to estimate significant non-recurring, unusual items and/or distinct non-core initiatives without unreasonable effort. The amounts and timing of these items are uncertain and could be material to the company’s results.

Adjusted operating earnings, adjusted operating earnings margin, adjusted net earnings (loss), and adjusted net earnings (loss) per diluted share are presented as supplemental measures of the company’s performance. Management believes these measures provide management and investors with additional information that is helpful when evaluating underlying performance and comparing results on a year-over-year normalized basis. These measures eliminate the impact of certain items that management does not consider indicative of underlying operating performance. These adjustments are itemized below. Adjusted net earnings (loss) per diluted share is adjusted net earnings (loss) divided by weighted average diluted shares outstanding. You are encouraged to evaluate the adjustments itemized above and the reasons management considers them appropriate for supplemental analysis. In evaluating these measures, you should be aware that in the future the company may incur expenses that are the same as or similar to some of the adjustments presented below.

Special Items Impacting the Three Months Ended June 30, 2024(unaudited, in millions, except per share data)
Item Description	Segment	Line Item	Amount		TaxEffect(1)		After Tax		EPS Impact
Restructuring charges(2)	Corporate and Other	Other operating expense	$	1.5	$	—	$	1.5	$	0.04
Total			$	1.5	$	—	$	1.5	$	0.04

(1)		There were no substantial income tax benefits related to these items given the U.S. valuation allowances on deferred tax assets.
(2)		Restructuring charges do not include certain reductions in stock-based compensation associated with forfeitures stemming from the restructuring activities.

Reconciliation for Adjusted Operating Earnings(unaudited, in millions)
	Three Months EndedJune 30,
		2024
Operating earnings	$	5.9
Restructuring charges(1)		1.5
Adjusted operating earnings	$	7.4
Sales		202.9
Operating margin		2.9	%
Adjusted operating margin		3.6	%

(1)

The company incurred severance and related charges for reductions in workforce and changes to executive leadership and additional restructuring costs related to the termination of the company’s lithium development project.

Reconciliation for Adjusted Net Loss(unaudited, in millions)
	Three Months EndedJune 30,
		2024
Net loss	$	(43.6	)
Restructuring charges(1)		1.5
Adjusted net loss	$	(42.1	)

Net loss per diluted share	$	(1.05	)
Adjusted net loss per diluted share	$	(1.01	)
Weighted-average common shares outstanding (in thousands):
Diluted		41,342

(1)

Reconciliation for EBITDA and Adjusted EBITDA(unaudited, in millions)
	Three Months EndedJune 30,
		2024
Net loss	$	(43.6	)
Interest expense		17.2
Income tax expense		32.7
Depreciation, depletion and amortization		26.1
EBITDA		32.4
Adjustments to EBITDA:
Stock-based compensation – non-cash		(0.7	)
Interest income		(0.2	)
Gain on foreign exchange		(0.5	)
Restructuring charges(1)		1.5
Other expense, net		0.3
Adjusted EBITDA	$	32.8

(1)

Salt Segment Performance(unaudited, in millions, except for sales volumes and prices per short ton)
	Three Months EndedJune 30,
		2024
Sales	$	160.6
Operating earnings	$	25.9
Operating margin		16.1	%
EBITDA(1)	$	41.6
EBITDA(1) margin		25.9	%
Sales volumes (in thousands of tons):
Highway deicing		1,090
Consumer and industrial		393
Total Salt		1,483
Average prices (per ton):
Highway deicing	$	77.20
Consumer and industrial	$	194.35
Total Salt	$	108.27

(1)

Non-GAAP financial measure. Reconciliations follow in these tables.

Reconciliation for Salt Segment EBITDA(unaudited, in millions)
	Three Months EndedJune 30,
		2024
Reported GAAP segment operating earnings	$	25.9
Depreciation, depletion and amortization		15.7
Segment EBITDA	$	41.6
Segment sales		160.6
Segment EBITDA margin		25.9	%

(1)

The company incurred severance and related charges related to a reduction of its workforce.

Plant Nutrition Segment Performance(unaudited, dollars in millions, except for sales volumes and prices per short ton)
	Three Months EndedJune 30,
		2024
Sales	$	38.8
Operating loss	$	(1.4	)
Operating margin		(3.6	)%
EBITDA(1)	$	7.2
EBITDA(1) margin		18.6	%
Sales volumes (in thousands of tons)		56
Average price (per ton)	$	691.27

(1)

Non-GAAP financial measure. Reconciliations follow in these tables.

Reconciliation for Plant Nutrition Segment EBITDA(unaudited, in millions)
	Three Months EndedJune 30,
		2024
Reported GAAP segment operating loss	$	(1.4	)
Depreciation, depletion and amortization		8.6
Segment EBITDA	$	7.2
Segment sales		38.8
Segment EBITDA margin		18.6	%

COMPASS MINERALS INTERNATIONAL, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited, in millions, except share and per-share data)

	Three Months EndedJune 30,
		2024
Sales	$	202.9
Shipping and handling cost		53.2
Product cost		117.1
Gross profit		32.6
Selling, general and administrative expenses		27.5
Other operating income		(0.8	)
Operating earnings		5.9
Other (income) expense:
Interest income		(0.2	)
Interest expense		17.2
Gain on foreign exchange		(0.5	)
Other expense, net		0.3
Loss before income taxes		(10.9	)
Income tax expense		32.7
Net loss	$	(43.6	)

Basic net loss per common share	$	(1.05	)
Diluted net loss per common share	$	(1.05	)
Weighted-average common shares outstanding (in thousands):(1)
Basic		41,342
Diluted		41,342

(1)

Weighted participating securities include RSUs and PSUs that receive non-forfeitable dividends and consist of 632,000 weighted participating securities for the three months ended June 30, 2024.

COMPASS MINERALS INTERNATIONAL, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(unaudited, in millions)

	June 30,
		2024
ASSETS
Cash and cash equivalents	$	12.8
Receivables, net		92.3
Inventories		407.5
Other current assets		34.4
Property, plant and equipment, net		787.9
Intangible and other noncurrent assets		260.3
Total assets	$	1,595.2

LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt	$	6.3
Other current liabilities		182.1
Long-term debt, net of current portion		868.8
Deferred income taxes and other noncurrent liabilities		185.9
Total stockholders' equity		352.1
Total liabilities and stockholders' equity	$	1,595.2

COMPASS MINERALS INTERNATIONAL, INC.SEGMENT INFORMATION(unaudited, in millions)

Three Months Ended June 30, 2024	Salt		PlantNutrition			Corporate& Other(1)			Total
Sales to external customers	$	160.6	$	38.8		$	3.5		$	202.9
Intersegment sales		—		2.8			(2.8	)		—
Shipping and handling cost		48.2		5.0			—			53.2
Operating earnings (loss)(2)(3)		25.9		(1.4	)		(18.6	)		5.9
Depreciation, depletion and amortization		15.7		8.6			1.8			26.1
Total assets (as of end of period)		1,013.3		408.1			173.8			1,595.2

(1)		Corporate and other includes corporate entities, records management operations, the Fortress fire retardant business, equity method investments, lithium costs and other incidental operations and eliminations. Operating earnings (loss) for corporate and other includes indirect corporate overhead, including costs for general corporate governance and oversight, lithium-related expenditures, as well as costs for the human resources, information technology, legal and finance functions.
(2)		Corporate operating results were impacted by net gains of $0.9 million related to the decline in the valuation of the Fortress contingent consideration for the three months ended June 30, 2024.
(3)		The company continued to take steps to align its cost structure to its current business needs. These initiatives impacted Corporate operating results and resulted in net severance and related charges for reductions in workforce and changes to executive leadership and additional restructuring costs related to the termination of the company’s lithium development project of $1.5 million for the three months ended June 30, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240917394898/en/

Contacts

Investor Contact Brent CollinsVice President, Treasurer & Investor Relations+1.913.344.9111InvestorRelations@compassminerals.com

Media ContactRick AxthelmChief Public Affairs and Sustainability Officer+1.913.344.9198MediaRelations@compassminerals.com

Most readers would already be aware that FMC's (NYSE:FMC) stock increased significantly by 14% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to FMC's ROE today.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

View our latest analysis for FMC

How Is ROE Calculated?

The formula for return on equity is:

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

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

32% = US$1.5b ÷ US$4.6b (Based on the trailing twelve months to June 2024).

The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.32 in profit.

Why Is ROE Important For Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

FMC's Earnings Growth And 32% ROE

To begin with, FMC has a pretty high ROE which is interesting. Secondly, even when compared to the industry average of 9.6% the company's ROE is quite impressive. This likely paved the way for the modest 17% net income growth seen by FMC over the past five years.

We then compared FMC's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 13% in the same 5-year period.

past-earnings-growth

Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about FMC's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is FMC Efficiently Re-investing Its Profits?

With a three-year median payout ratio of 34% (implying that the company retains 66% of its profits), it seems that FMC is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.

Moreover, FMC is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 43% over the next three years. Consequently, the higher expected payout ratio explains the decline in the company's expected ROE (to 14%) over the same period.

Summary

Overall, we are quite pleased with FMC's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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.

26.4 Meters Averaging 2.6 g/t Gold; including 14.4 Meters at 4.2 g/t
32.0 Meters Averaging 1.7 g/t Gold; including 14.2 Meters at 3.1 g/t

DENVER, CO / ACCESSWIRE / September 16, 2024 / Solitario Resources Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to announce the results of the first three core holes ever drilled on its Golden Crest Project. All three holes intersected significant thicknesses of mineralization, with two of the holes displaying high-grade intercepts. Cross sections of the three holes can be viewed here. This zone, although currently limited in size due to the lack of offset drilling, is laterally open in all directions. Highlights include:

DDH Hole	Interval	Thickness	Grade
Number	(meters)	(meters)	(grams/tonne)
GC-001	9.1 to 41.1	32.0	1.68
including	10.7 to 24.9	14.2	3.10

GC-002	7.9 to 17.8	9.9	0.72
	23.3 to 33.2	9.9	1.88
	40.2 to 46.3	6.1	0.55

GC-003	5.0 to 31.4	26.4	2.56
including	11.4 to 25.8	14.4	4.18
including	19.8 to 21.8	2.0	13.13
	38.9 to 50.6	11.7	0.60
Estimated true thickness of reported intervals: GC-001: 75% +/-10%; GC-002: 90% +/-10%; GC-003: 90% +/-10%

Chris Herald, President and CEO of Solitario, stated: "These core holes represent a true new gold discovery that are potentially part of a major new district-scale extension of the Homestake-Wharf super giant gold district. Considering that these are the first holes ever drilled on our huge 35,000-acre property, they are truly outstanding. Significant gold mineralization over substantial widths with excellent continuity was intersected in all three holes. Importantly, these results also confirm that the multiple high-quality surface anomalies we have generated during the past three years have the potential to have sizable subsurface roots in both grade and size.

We also firmly believe the best is yet to come. This year's program is only testing two of our ten best high-potential target areas. The other eight are still undergoing various stages of permitting with drilling planned on four more in 2025. We are also encouraged that other potential gold horizons below the mineralized Downpour zone are returning anomalous gold and trace element values.. With additional drilling, we will have the ability to vector into significant mineralization in structures and multiple stratigraphic horizons that have been very productive in the historic Homestake-Wharf mining district. All mineralization encountered to date is oxidized."

What Do These Results Mean and Drilling Details

Gold mineralization at Downpour occurs within an intensely brecciated evaporite stratigraphic horizon that has undergone significant silicification and hydrothermal alteration. This favorable zone is sub-horizontal and appears to occur throughout Solitario's land position. Solitario has identified a number of other high-priority prospects in this favorable horizon. Besides the excellent grade and thickness of mineralization encountered in drilling, the potential for high-grade feeder structures is considered excellent.

All three core holes were drilled at the Downpour prospect from the same platform near exceptional gold assay results in trenches (previously reported). Total meterage for the first three holes is 963.5 meters. We expect drilling to continue well into November. Remaining drilling consists of widely spaced holes over Solitario's vast 35,000-acre land holding. We are on track to complete about a dozen core holes totaling up to 5,000 meters.

Golden Crest Future Drill Hole Plans

Solitario has identified ten high priority surface targets as shown in the table below. Two of the targets, Downpour and Eleventh Hour, will be drilled this year. Four new targets are currently being permitted and are scheduled to be drilled in 2025. The other four high-priority targets may undergo future permitting after further review. Besides the ten currently defined high-priority targets, Solitario has identified another dozen promising target areas that require additional surface exploration work. Three years of concentrated exploration surface work has defined approximately 80-square kilometers of gold bearing hydrothermal alteration.

Permitting Still at Early Stage for Priority Targets

Solitario's 100%-owned Golden Crest properties in South Dakota constitute strategic land holdings along the western and southwestern extensions of the Homestake-Wharf mining district that has produced approximately 52 million ounces of gold and contains another 30 million ounces in historical resources (not SK-1300 or NI-4301 compliant and not on Solitario's property). The project area is in a safe jurisdiction with highly developed infrastructure, an unbroken 150-year record of continuous gold mining, a skilled mining workforce, and a history of high-grade, underground mineable gold deposits.

Sample Type, Sampling Methodology, Chain of Custody, Quality Control and Assurance

All Golden Crest exploration core samples have been prepared and analyzed at the American Assay Laboratories in Reno, Nevada, which is independent from Solitario. Thorough QA/QC protocols are followed on the Project, including insertion of duplicate, blank and standard samples in the assay stream for all drill holes. The samples are collected directly from the drill rig, logged, photographed, split into two samples, and half of each sample submitted directly to American Assay Labs through secure chain of custody protocols. All activities prior to shipment are directly supervised by Solitario geologists. Samples are pulverized from a 250g sample to 85% passing 75 mesh. Approximately 225g of pulp sample is used for fire assay. Assays are based on a 30g fire assay aliquot for gold with Atomic Absorption finish. If the gold value from Atomic Absorption is >10g/t, an additional 30g of pulp sample is fire assayed for gold using a gravimetric finish.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Sandor Ringhoffer, CPG, SME RM, a geologic consultant of Solitario, who is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

About Solitario

Solitario is a natural resource exploration company focused on high-quality Tier-1 gold and zinc exploration projects. The Company is traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). In addition to its South Dakota property holdings, Solitario holds a 50% joint venture interest (Teck Resources 50%) in the high-grade Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources 61%) in the high-grade Florida Canyon zinc project in Peru. At Florida Canyon, Solitario is carried to production through its joint venture arrangement with Nexa. Solitario's Management and Directors hold approximately 8.4% (excluding options) of the Company's 81.6 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately US$8.3 million. Additional information about Solitario is available online at www.solitarioresources.com.

Solitario has a long history of committed Environmental, Social and Responsible Governance ("ESG") of its business. We realize ESG issues are also important to investors, employees, and all stakeholders, including communities in which we work. We are committed to conducting our business in a manner that supports positive environmental and social initiatives and responsible corporate governance. Importantly, we work with joint venture partners that not only value the importance of ESG issues in the conduct of their business on our joint venture projects but are leaders in the industry in this important segment of our business.

For More Information Please Contact:

Chris Herald, President and CEOSolitario Resources Corp.Tel. 303-534-1030 ext. 1

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and the U.S. Securities Exchange Act of 1934, and as defined in the United States Private Securities Litigation Reform Act of 1995 (and the equivalent under Canadian securities laws),that are intended to be covered by the safe harbor created by such sections. Forward-looking statements are statements that are not historical facts. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and address activities, events or developments that Solitario expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. Forward-looking statements involve numerous risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Solitario's Golden Crest land position does not cover any of the areas of historical gold production or historical unmined resources. Certain historical information concerning exploration and gold production in the Black Hills region has been obtained through both public and private sources and are believed to be substantially factual, but Solitario can give no assurances of the accuracy of such information. The existence of historic mines and resources adjacent to Solitario's land position do not necessarily support the existence economic mineral deposits on Solitario's land position. Such forward-looking statements include, without limitation, statements regarding the Company's expectation of the projected timing and outcome of engineering studies; expectations regarding the receipt of all necessary permits and approvals to implement a mining plan, if any, at any of its mineral properties. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among others, risks relating to risks that Solitario's and its joint venture partners' exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of zinc, gold, lead and silver; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; availability of outside contractors, and other activities; uncertainties relating to obtaining approvals and permits from governmental regulatory authorities; the possibility that environmental laws and regulations will change over time and become even more restrictive; and availability and timing of capital for financing the Company's exploration and development activities, including uncertainty of being able to raise capital on favorable terms or at all; risks relating to the impacts of Covid-19 or similar variants; as well as those factors discussed in Solitario's filings with the U.S. Securities and Exchange Commission (the "SEC") including Solitario's latest Annual Report on Form 10-K and its other SEC filings (and Canadian filings) including, without limitation, its latest Quarterly Report on Form 10-Q. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

SOURCE: Solitario Resources Corp.

View the original press release on accesswire.com

REE Automotive Ltd.

REE Assembly Line in Coventry UK

Motherson will oversee supply chain management, leveraging manufacturing capabilities for components, module integration, REEcorners, and platform assembly to support full vehicle production, including U.S. assembly of P7 electric trucks.

REE Vehicle on the road

Combining Motherson’s manufacturing expertise and supply chain might with REE’s market-leading software-defined EV product line-up promises to create a dominant new force in the electrified commercial vehicle market globally, allowing REE to provide OEMs and global fleet owners an innovative product portfolio.

Motherson is a global engineering and manufacturing specialist and one of the world’s leading automotive suppliers. For FY24, it achieved gross revenue of USD 17.2 billion1. The group employs over 190,000 people in its 400 facilities spanning across 44 countries.
Combining Motherson’s manufacturing expertise and supply chain might with REE’s market-leading software-defined EV product line-up promises to create a dominant new force in the electrified commercial vehicle market globally, allowing REE to provide OEMs and global fleet owners an innovative product portfolio.
Motherson will oversee supply chain management, leveraging manufacturing capabilities for components, module integration, REEcorners, and platform assembly to support full vehicle production, including U.S. assembly of P7 electric trucks.
With this agreement, REE believes its ability to service customers at scale will materially accelerate. Given the unmet market need, significant order growth is anticipated. In addition to faster revenue, improved unit costs are anticipated, accelerating the road to meaningful free-cash flow generation.
REE priced a $45.35 million registered direct offering, led by M&G Investment, REE’s largest shareholder, who invested $20 million; Motherson, who invested $15 million in the round; and Varana Capital, one of REE’s earliest investors; who invested $5.25 million.
Motherson will nominate a member to join REE’s board of directors.

TEL-AVIV, Israel and NOIDA, India, Sept. 16, 2024 (GLOBE NEWSWIRE) — REE Automotive (NASDAQ: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, and Motherson Group (IN: MOTHERSON), an engineering and manufacturing specialist and a major supplier to the automotive industry with long standing relationships with global OEMs such as Mercedes Benz, Audi, Volkswagen, Suzuki, BMW, Porsche, GM, Ford, Stellantis, Daimler Trucks, Paccar and John Deere today announced a strategic agreement. Pursuant to the agreement, Motherson will manage sourcing and supply chain of all production parts and support the assembly of the REEcorner® and REE P7 electric trucks, the first full by-wire, software-driven certified medium duty electric truck available on the market today. Motherson will also nominate a director to join REE’s board of directors.

In addition, REE has entered into definitive agreements with certain investors, including M&G Investments, Motherson, and Varana Capital, for the purchase and sale of 11,001,941 shares of its Class A ordinary shares (or pre-funded warrants in lieu thereof) at a purchase price of $4.122 per share in a registered direct offering, for gross proceeds of $45.35 million before deducting applicable fees and expenses. REE intends to use the proceeds for general working capital. The offering is expected to close on or by September 19, 2024, subject to the satisfaction of customary closing conditions.

M&G Investments, REE’s long-term supportive shareholder, led the investment with $20 million followed by Motherson participating with a $15 million investment. Following the closing of the offering, M&G will hold approximately 16.00% of REE’s issued and outstanding Ordinary Shares; Motherson will hold approximately 19% on a non-diluted basis; and, similarly, Varana Capital 8.00%

Benefiting from the new collaboration, the buying power, manufacturing capability, and industry relationships of Motherson, REE aims to expedite production to meet growing demand and anticipated fleet orders from significant multi-national customers. REE offers the only software-driven medium duty electric truck that can meet an expected fleet transition to electric of more than 240,000 medium duty trucks in the U.S. alone and more than double across the rest of the world. By collaborating with Motherson, REE can focus on further growing its customer base, pulling forward orders, increasing gross and cash flow margins, and expanding its patent portfolio.

Laksh Vaaman Sehgal, Vice Chairman, Motherson Group, said, "We are pleased to announce our long-term agreement with REE to accelerate its industrialization within a mutually beneficial commercial framework. We have been truly impressed by REE's remarkable technology, exceptional product offerings, and robust team. We look forward to facilitating REE's growth and technological advancement by expertly managing its supply chain and utilizing our world-class engineering and manufacturing capabilities to drive commercialization and industrialization. We also want to strengthen REE's integration into the automotive ecosystem by delivering unparalleled customer support across the value chain. We believe that this strategic partnership will contribute towards Motherson’s diversification and increasing content per vehicle strategy.”

REE Co-founder and CEO, Daniel Barel, said, “We are very excited to enter into this agreement with Motherson, as I believe this agreement will enable us to leapfrog over many of the challenges others face when ramping up production. Motherson’s global footprint and manufacturing prowess combines perfectly with REE’s technology and innovation mindset. This combination will benefit our customers and investors alike, by pushing forward the transition towards electrification and carbon neutrality. We are proud to join forces with Motherson and looking forward to learning from their incredible story and amazing culture.”

M&G Investments’ Portfolio Manager, Carl Vine, said, “I believe that this is a transformational transaction for REE and we are delighted to be involved. As shareholders in both companies, we are confident that the combination of core competencies from both sides will result in a sigh of relief from global fleet owners, who have been starved of an electrified product line-up that can be produced and serviced at scale. This is a win-win all round.”

The offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-266902) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

REE was represented on the transactions by Sullivan & Worcester LLP with respect to matters relating to U.S. law and by Herzog Fox & Neeman with respect to matters relating to Israeli law.

Motherson Group

Founded in 1975, Motherson today is a global engineering and manufacturing specialist and one of the world’s leading automotive suppliers for OEMs. For FY24, it achieved gross revenue of USD 17.2 billion1. Motherson supports its customers from more than 400 facilities across 44 countries, with a team of over 190,000 dedicated professionals. Motherson operates as a full system solutions provider and serves its customers with multiple products and services through its 12 business divisions. The product portfolio includes electrical distribution systems, fully assembled vehicle interior and exterior modules, automotive rear vision systems, moulded plastic parts and assemblies, injection moulding tools, moulded and extruded rubber components, lighting systems, electronics, precision metals and modules, Industrial IT solutions and services etc. The group has expanded its presence to support customers in new segments, including health and medical, aerospace and logistics. The diversified range of technologies and capabilities allows Motherson to support a wide spectrum of sectors, with automotive as the main industry served. Thanks to the trust of its customers, the group is ranked among the top 15 automotive suppliers worldwide and is listed among the “World’s Best Companies of 2024 by Time”. For more information please visit www.motherson.com.

1 based on an exchange rate of INR to USD 83.4534 reference exchange rate published by RBI as of June 28, 2024)

REE Contacts

Media & Analysts:Keren Shemesh Chief Marketing OfficerKerens@ree.auto

Investor relations:Dana Rubinstein Chief Strategy OfficerDanar@ree.auto

Caution About Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses the expected benefits to be realized by the collaboration with Motherson, that with the collaboration agreement with Motherson, REE believes its ability to service customers at scale will materially accelerate, that significant order growth is anticipated and that in addition to faster revenue, improved unit costs are anticipated, accelerating the road to meaningful free-cash flow generation, that Motherson intends to nominate a member to REE’s board of directors, the expected ownership of certain of REE’s shareholders following the closing of the offering, the expected timing of the closing of the offering and the expected use of proceeds. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0909afd3-d34b-40c8-ba30-3c9bf60381dc

https://www.globenewswire.com/NewsRoom/AttachmentNg/ffc3a3aa-31bc-43d1-844d-7e9a2d757aa2

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So, the natural question for Lara Exploration (CVE:LRA) shareholders is whether they should be concerned by its rate of cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.

View our latest analysis for Lara Exploration

When Might Lara Exploration Run Out Of Money?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. As at June 2024, Lara Exploration had cash of CA$2.7m and no debt. Importantly, its cash burn was CA$1.5m over the trailing twelve months. So it had a cash runway of approximately 21 months from June 2024. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. The image below shows how its cash balance has been changing over the last few years.

debt-equity-history-analysisHow Is Lara Exploration's Cash Burn Changing Over Time?

Lara Exploration didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Even though it doesn't get us excited, the 29% reduction in cash burn year on year does suggest the company can continue operating for quite some time. Admittedly, we're a bit cautious of Lara Exploration due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Lara Exploration Raise Cash?

While Lara Exploration is showing a solid reduction in its cash burn, it's still worth considering how easily it could raise more cash, even just to fuel faster growth. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Lara Exploration's cash burn of CA$1.5m is about 3.0% of its CA$51m market capitalisation. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.

So, Should We Worry About Lara Exploration's Cash Burn?

As you can probably tell by now, we're not too worried about Lara Exploration's cash burn. For example, we think its cash burn relative to its market cap suggests that the company is on a good path. And even though its cash burn reduction wasn't quite as impressive, it was still a positive. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. On another note, we conducted an in-depth investigation of the company, and identified 3 warning signs for Lara Exploration (2 are concerning!) that you should be aware of before investing here.

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So should Bravo Mining (CVE:BRVO) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Bravo Mining

How Long Is Bravo Mining's Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Bravo Mining last reported its June 2024 balance sheet in August 2024, it had zero debt and cash worth US$28m. In the last year, its cash burn was US$13m. So it had a cash runway of about 2.1 years from June 2024. Arguably, that's a prudent and sensible length of runway to have. The image below shows how its cash balance has been changing over the last few years.

debt-equity-history-analysisHow Is Bravo Mining's Cash Burn Changing Over Time?

Bravo Mining didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Over the last year its cash burn actually increased by 4.2%, which suggests that management are increasing investment in future growth, but not too quickly. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. While the past is always worth studying, it is the future that matters most of all. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

Can Bravo Mining Raise More Cash Easily?

While its cash burn is only increasing slightly, Bravo Mining shareholders should still consider the potential need for further cash, down the track. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Bravo Mining has a market capitalisation of US$197m and burnt through US$13m last year, which is 6.8% of the company's market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

Is Bravo Mining's Cash Burn A Worry?

On this analysis of Bravo Mining's cash burn, we think its cash burn relative to its market cap was reassuring, while its increasing cash burn has us a bit worried. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. Its important for readers to be cognizant of the risks that can affect the company's operations, and we've picked out 1 warning sign for Bravo Mining that investors should know when investing in the stock.

Of course Bravo Mining may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.

Goliath Resources Limited

$9,562,308 Closed In First Tranche And Strategic Singapore Based Global Commodity Group Completes Purchase of 1,600,000 Shares Increasing Ownership to 3.5%

TORONTO, Sept. 13, 2024 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it has increased the previously announced non-brokered flow through financing from $12,750,000 to $14,725,000 with strategic investor Mr. Larry Childress buying 1,000,000 common shares through Childress Family LP.

In addition, Goliath has closed $9,562,308 in the first tranche of the flow through financing and a strategic Global Commodity Group based in Singapore has completed their purchase of 1,600,000 common shares increasing its stake in Goliath to 3.5%. The final tranche is expected to close in September 2024.

About Mr. Larry Childress

Mr. Childress has an MS Degree in Mining Engineering. He started an oil exploration company in 1980 discovering several major oilfields in western Kansas. Mr. Childress has been investing in mineral projects at various stages for over 40 years and is currently the second largest shareholder in Fireweed Metals, after the Lundin Family, holding ~22 million shares. Other major holdings include: Filo, WA1 Resources and Hercules Metals. He was the second largest shareholder in Noront Resources when they were taken out by Wyloo at a significant premium to market.

Offering Details

The non-brokered private placement is a combination of: (i) Charity Flow-Through shares (CFT) to be sold at a price of $1.975 each with no warrant and the Flow-Through shares (FT) to be sold at a price of $1.44 each with no warrant. These shares will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). The first tranche consisted of 3,018,000 CFT shares for gross proceeds of $5,960,550 and 2,501,221 FT shares for proceeds of $3,601,758 for aggregate proceeds of $9,562,308.

The Company intends to use the proceeds for general operating expenses and exploration related programs on its properties located in and around the Golden Triangle of northwestern British Columbia.

The proceeds from the FT offering will be used for Canadian exploration expenses as such term is defined in paragraph (f) of the definition of Canadian exploration expense in Subsection 66.1(6) of the tax act, flow-through mining expenditures as defined in Subsection 127(9) of the tax act that will qualify as flow-through mining expenditures, and B.C. flow-through mining expenditures as defined in Subsection 4.721(1) of the Income Tax Act (British Columbia), which will be incurred on or before Dec. 31, 2025, and renounced with an effective date no later than Dec. 31, 2024. British Columbia Super Flow – the B.C. mining flow-through share (B.C. MFTS) tax credit allows BC Residents who invest in flow-through shares to claim a provincial non-refundable tax credit of 20% of their B.C. flow-through mining expenditures. B.C. flow-through mining expenditures are specific exploration expenses incurred by a PBC and renounced by a corporation issuing the flow-through shares.

Goliath paid finders' fees on certain orders in connection with this first tranche composed of 6% cash totaling $184,663.09 and 6% finder warrants for a 12 month period totaling 103,093 (67,680 finder warrants priced at $1.26 and 35,413 finder warrants priced at $1.44), subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Goliath Resources Limited

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

For more information please contact:

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

Other

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

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

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

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

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

Southern Copper (SCCO) closed the latest trading day at $98, indicating a +1.61% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.75% for the day. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 1%.

Shares of the miner witnessed a loss of 4.95% over the previous month, trailing the performance of the Basic Materials sector with its gain of 0.53% and the S&P 500's gain of 4.03%.

Investors will be eagerly watching for the performance of Southern Copper in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.06, showcasing a 34.18% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.81 billion, reflecting a 12.13% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.29 per share and revenue of $11.59 billion. These totals would mark changes of +37.94% and +17.09%, respectively, from last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Southern Copper. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Southern Copper is holding a Zacks Rank of #4 (Sell) right now.

Valuation is also important, so investors should note that Southern Copper has a Forward P/E ratio of 22.47 right now. This indicates a premium in contrast to its industry's Forward P/E of 13.04.

Meanwhile, SCCO's PEG ratio is currently 1. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Mining – Non Ferrous industry was having an average PEG ratio of 0.66.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.

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

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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Goliath Resources Limited

TORONTO, Sept. 12, 2024 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it has upsized its previously announced non-brokered private placement to $12,750,000 comprised of charity flow through shares priced at $1.975 and flow through shares priced at $1.44. Mr. Rob McEwen has agreed to buy 800,000 shares that will increase his ownership in Goliath to 3.8% on a partially diluted basis post financing.

Goliath intends to raise a total of $12,750,000 through a non-brokered private placement in a combination of: (i) Charity-Flow-Through Charity Shares with no warrant (CFT) to be sold at a price of $1.975 each; and (ii) Flow-Through Shares with no warrant (FT) to be sold at a price of $1.44 each.

The proceeds from the CFT and FT will be used for Canadian exploration expenses as such term is defined in paragraph (f) of the definition of Canadian exploration expense in Subsection 66.1(6) of the tax act, flow-through mining expenditures as defined in Subsection 127(9) of the tax act that will qualify as flow-through mining expenditures, and B.C. flow-through mining expenditures as defined in Subsection 4.721(1) of the Income Tax Act (British Columbia), which will be incurred on or before Dec. 31, 2025, and renounced with an effective date no later than Dec. 31, 2024. British Columbia Super Flow – the B.C. mining flow-through share (B.C. MFTS) tax credit allows BC Residents who invest in flow-through shares to claim a provincial non-refundable tax credit of 20% of their B.C. flow-through mining expenditures. B.C. flow-through mining expenditures are specific exploration expenses incurred by a PBC and renounced by a corporation issuing the flow-through shares.

Goliath may pay finders' fees composed of six percent cash and six percent warrants for twelve (12) months priced at $1.26 on certain CFT orders and $1.44 on certain FT orders in connection with the placement subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Goliath Resources Limited

For more information please contact:

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

Other

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

DENVER, CO / ACCESSWIRE / September 12, 2024 / Solitario Resources Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to report President and CEO Chris Herald will provide a live webcast presentation at the 36th Annual Gold Forum Americas/XPL-Dev conference on Monday, September 16, 2024, at 3:10 pm Mountain Time. Mr. Herald plans to present the assay results for the first three drill holes from the company's maiden drilling program at its Golden Crest gold project in South Dakota. Mr. Herald will also provide an update on its other Golden Crest exploration activities as well as a brief review of the advanced-stage Florida Canyon and Lik high-grade zinc projects. To access the live presentation, please click Gold Forum Americas.

About Solitario

Solitario is a natural resource exploration company focused on high-quality Tier-1 gold and zinc projects. Solitario's 100%-owned Golden Crest properties in South Dakota constitute strategic land holdings along the western and southwestern extensions of the Homestake-Wharf mining district that has produced approximately 52 million ounces of gold (not a part of the Company's land holdings). The project area is located in a safe jurisdiction with highly developed infrastructure, an unbroken 150-year record of continuous gold mining, a skilled mining workforce, and a history of high-grade, underground mineable gold deposits.

The Company is traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). In addition to its South Dakota property holdings, Solitario holds a 50% joint venture interest (Teck Resources 50%) in the high-grade Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources holds the remaining 61% interest) on the high-grade Florida Canyon zinc project in Peru. Solitario is carried to production through its joint venture arrangement with Nexa. Solitario's Management and Directors hold approximately 9.1% (excluding options) of the Company's 81.6 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately US$8.3 million. Additional information about Solitario is available online at www.solitariozinc.com.

For More Information Please Contact:

Chris Herald, President & CEO303-534-1030 ext. 1

SOURCE: Solitario Resources Corp.

View the original press release on accesswire.com

Halifax, Nova Scotia–(Newsfile Corp. – September 12, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide an update on its latest advancements associated with the commercialization of its RapidSX™ rare earth separation technology. In addition to demonstrating its patent-pending RapidSX™ technology platform at the Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario, for the separation of heavy and light rare earth elements ("REE"), the Company is trialing a number of ancillary systems to demonstrate the entire commercial flowsheet. These systems will ultimately be incorporated into Ucore's first commercial REE separation and rare earth oxide ("REO") production facility in Alexandria, Louisiana – the Louisiana Strategic Metals Complex ("SMC").

In parallel with a dedicated technical team, the CDF operates seven days per week, serving multiple purposes, requiring dedicated shift and activity schedules, namely:

the processing of mixed rare earth oxide ("MREO") and carbonate ("MREC") feedstocks over thousands of runtime hours to further the Company's two government demonstration projects;
to develop and demonstrate an array of ancillary processing systems with the deployment of the RapidSX™ technology platform in a rigorous production environment; and
conduct product qualification work to meet prospective Western world partners' commercial interests and associated specifications.

Figure 1 – Ucore's 52-stage RapidSX™ Commercial Demo Plant in Kingston, Ontario

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/223106_b73bd12ed46fe952_001full.jpg

RapidSX™ Operations

The Company schedules its 52-stage RapidSX™ Demonstration Plant ("Demo Plant") to operate 120 hours per week processing tonnes of feedstock in a simulated commercial environment. The completely automated system incorporates approximately 600 feedback sensors, which include monitoring acidity levels (pH), aqueous and organic interface levels, tank levels, and system pressures and flow rates, all of which are controlled by multiple programmable logic controllers ("PLCs") and a single operator at a central control station.

Since the Demo Plant was commissioned in late 2023, through a dedicated program of continuous improvement, the Ucore team has developed significant enhancements to the mechanical and control systems that deliver and remove the organic and aqueous solutions to each RapidSX™ stage. This is an essential component of the final "copy and paste" knowledge transfer process from the CDF to the SMC to ensure a robust and proven technology platform delivering best-in-class competitive processing versus that of the People's Republic of China.

Full Scope Operations

The purpose of the CDF is the demonstration of the entire rare earth refining flowsheet, which extends well beyond the separation of REEs utilizing the RapidSX™ system. The Company has been engaged in the development and demonstration of the associated operations, including:

design and testing of an optimized Cerium depletion process;
direct leaching of heavy MREO and light MREC, eliminating the pre-leaching calcining step traditionally required in the processing of MRECs;
development of a dedicated yttrium removal process;
design and installation of a distillation system for the concentration of produced rare earth chlorides and the recovery and recycling of hydrochloric acid;
design and installation of a neutralization system to recycle and manage the generated rare earth chloride solutions; and
development of a batch-level process for light and heavy rare earth oxide production.

End User Qualifications

Since the commencement of Kingston operations, Ucore has had numerous confidential requests for REO products produced to specifications from Western world end users. The CDF produces heavy and light rare earth chlorides from various feedstocks, including monazite, bastnaesite, ionic clays, and xenotime sources. This has been complemented by the development of a dedicated batch-level process area within the CDF for the production of kilogram quantities of rare earth oxides from the generated rare earth chlorides. This is the final processing step of the planned commercial REO production facility.

"It is an exceptionally exciting time for the Company," stated Mike Schrider, P.E., Vice President and Chief Operating Officer of Ucore. "The innovative work being completed at our Commercial Demonstration Facility strongly positions us as a first mover in the Western commercial heavy rare earth processing space as we continue to execute our plan for production in Louisiana.

"The Company is making daily advancements in our integrated knowledge of applying the chemistry of solvent extraction with our computerized column technology platform to the intricate separations involved with heavy rare earth elements. Our flowsheet development and demonstration work in Kingston are essential risk mitigation steps to help us achieve our Louisiana SMC commercial objectives."

The Company has hosted numerous visitors at the CDF over the past several months, including both potential feedstock and offtake partners, as well as supply chain alignment discussions with a variety of industry participants.

# # #

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. 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 August 27, 2024) (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/223106

Harmony Gold Mining Company Limited HMY logged adjusted earnings of 99 cents per share in the fiscal 2024 (ended June 30, 2024), up 120% from adjusted earnings of 45 cents recorded a year ago.

In the fiscal 2024, revenues rose 18% year over year to $3,282 million. Average gold prices received for the fiscal increased 11% year over year to $1,999 per ounce (oz).

Harmony Gold Mining Company Limited Price and Consensus

Harmony Gold Mining Company Limited price-consensus-chart | Harmony Gold Mining Company Limited Quote

Harmony Gold’s Production Rises and Costs Decline

Gold production was 1,561,815 oz for fiscal 2024, up around 6% year over year.

Cash operating costs per oz fell 2% year over year to $1,262. All-in-sustaining costs fell 4% year over year to $1,500 per oz.

HMY’s Financial Overview

As of June 30, 2024, cash and cash equivalents rallied around 70% year over year to $258 million.

Operating free cash flow surged 101% year over year to $681 million in the fiscal 2024.

Long-term debt was $98 million at the end of the fiscal 2024, down around 67% year over year.

HMY’s Outlook Reflects Higher Capex

Harmony Gold expects to produce 1.4-1.5 million oz of gold in fiscal 2025.

The company’s guidance reflects the higher capital expenditure required to continue production and its growth plans. Capital expenditures for the fiscal 2025 are projected to increase to $592 million as a result of HMY’s investment in major high-grade and surface retreatment projects.

HMY Stock’s Price Performance

Shares of Harmony Gold have surged 108.8% in the past year against a 33.4% rise in the industry.

Zacks Investment Research

Image Source: Zacks Investment Research

HMY’s Zacks Rank & Key Picks

HMY currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Hawkins, Inc.HWKN, Carpenter Technology Corporation CRS and Eldorado Gold Corporation EGO, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Hawkins’ current fiscal-year earnings is pegged at $4.14, indicating a rise of 15.3% from the year-ago level. The Zacks Consensus Estimate for HWKN’s current fiscal-year earnings has increased 12.8% in the past 60 days.The stock has rallied around 103.3% in the past year.

The Zacks Consensus Estimate for Carpenter Technology’scurrent-year earnings is pegged at $6.06 per share, indicating a rise of 27.9% from the year-ago level. CRS’ earnings beat the consensus estimate in each of the trailing four quarters, the average earnings surprise being 15.9%. The stock has surged nearly 110.6% in the past year.

The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the trailing four quarters, with the average surprise being 430.3%. The company's shares have surged nearly 69.4% in the past year.

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

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Goliath Resources Limited

TORONTO, Sept. 10, 2024 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it has closed a $1,000,000 order from its strategic shareholder Crescat Capital, plus an additional order for gross proceeds of $1,093,524 in the final tranche of the previously announced non-brokered financing up to $6,500,000 on August 13, 2024.

The non-brokered private placement was a combination of: (i) Non-Flow-Through shares (NFT) sold at a price of $1.11 each and Flow-Through shares (FT) sold at a price of $1.28 that will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The first and second tranche consisted of 3,767,567 NFT shares for gross proceeds of $4,181,999 and 1,810,629 FT shares for proceeds of $2,317,605 for an aggregate of $6,499,604.

The Company intends to use the proceeds for general operating expenses and exploration related programs on its properties located in the Golden Triangle of northwestern British Columbia.

Goliath paid finders' fees on certain orders in connection with this offering composed of 6% cash totaling $67,342.26 and 6% finder warrants for a 12 month period totaling 59,382 (8,400 finder warrants priced at $1.28 and 50,982 finder warrants priced at $1.11), subject to compliance with the policies of the TSX Venture Exchange. No finders fees were paid on the final tranche. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Crescat Capital

Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat’s mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat’s goal is industry leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Crescat’s investment process involves a mix of asset classes and strategies to assist with each client’s unique needs and objectives and includes Global Macro, Long/Short and Precious Metals funds. Crescat has been building friendly activist stakes in a select group of precious and base metal exploration and mining companies as one of its predominant macro themes.

Crescat is advised by Dr. Quinton Hennigh, its geologic and technical director on investments in gold and silver resource companies. Dr. Hennigh became an economic geologist after obtaining his PhD in Geology/Geochemistry from the Colorado School of Mines. He has more than 40 years of mining and exploration experience including with major gold mining firms that include Homestake Mining, Newcrest Mining and Newmont Mining. Dr. Hennigh is currently chairman and CEO of San Cristobal Mining, Inc., a leading global producer of zinc and silver in Bolivia. Among his notable project involvements are First Mining Gold’s Springpole gold deposit in Ontario, Kirkland Lake Gold’s acquisition of the Fosterville gold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming, Novo Resources Pilbara assets in Australia, Lion One’s Tuvatu gold project on Fiji, New Found’s Queensway gold deposit in Newfoundland, Eloro Resources’ Iska Iska silver/polymetallic deposit in Bolivia, Snowline Valley gold deposit in the Yukon, Goliath’s Surebet gold project in British Columbia, and San Cristobal’s Isidorito silver deposit in Bolivia.

About Goliath Resources Limited

For more information please contact:

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

Other

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

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

Investors interested in Mining – Non Ferrous stocks are likely familiar with Amerigo Resources (ARREF) and Southern Copper (SCCO). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Amerigo Resources and Southern Copper are sporting Zacks Ranks of #2 (Buy) and #4 (Sell), respectively, right now. This means that ARREF's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is only part of the picture for value investors.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

ARREF currently has a forward P/E ratio of 6.27, while SCCO has a forward P/E of 21.92. We also note that ARREF has a PEG ratio of 0.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SCCO currently has a PEG ratio of 0.97.

Another notable valuation metric for ARREF is its P/B ratio of 1.76. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, SCCO has a P/B of 8.59.

Based on these metrics and many more, ARREF holds a Value grade of A, while SCCO has a Value grade of D.

ARREF sticks out from SCCO in both our Zacks Rank and Style Scores models, so value investors will likely feel that ARREF is the better option right now.

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Amerigo Resources Ltd. (ARREF) : Free Stock Analysis Report

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

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Zacks Investment Research

FMC Corporation’s FMC shares have gained 9.6% over the past three months. The company has also outperformed its industry’s decline of 7.8% over the same time frame. FMC has also topped the S&P 500’s roughly 2.9% rise over the same period.Let’s dive into the factors behind this Zacks Rank #3 (Hold) stock’s price appreciation.

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New Products, Restructuring Actions Aid FMC Stock

FMC delivered better-than-expected results in the second quarter on the back of higher volumes. It saw improved demand in the quarter, leading to an increase in sales volumes, especially in the United States and Brazil. The company is gaining from efforts to expand its product portfolio through new product launches and restructuring actions. FMC is investing in technologies as well as new product launches to enhance value to the farmers. New products launched in Europe, North America and Asia are gaining significant traction. Product introductions are expected to support the company’s results this year. The company generated $590 million in sales in 2023 from new products launched in the past five years. It expects revenues from new products to grow by roughly $200 million in 2024. It expects a significant amount of volume growth to come from new products in the second half of 2024. FMC is seeing strong gains in new products including Coragen eVo and Premio Star insecticides and the Onsuva fungicide in Latin America.The acquisition of BioPhero ApS, a Denmark-based pheromone research and production company, also adds biologically produced state-of-the-art pheromone insect control technology to the company’s product portfolio and R&D pipeline, highlighting FMC's role as a leader in delivering innovative and sustainable crop protection solutions.FMC is also expected to benefit from reduced input costs, a favorable product mix and its cost-control actions. It benefited from favorable input costs in the second quarter of 2024. FMC is also making progress with its global restructuring and cost-reduction program. It sees benefits from restructuring to contribute $75-$100 million to full-year 2024 adjusted EBITDA, net of inflation.

FMC Corporation Price and Consensus

FMC Corporation price-consensus-chart | FMC Corporation Quote

Stocks to Consider

Better-ranked stocks in the Basic Materials space are Newmont Corporation NEM, Element Solutions Inc ESI and Eldorado Gold Corporation EGO, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75.2% from year-ago levels. The Zacks Consensus Estimate for NEM’s earnings has increased 16% in the past 60 days. The stock has rallied around 29% in the past year. The consensus estimate for Element Solutions’ current-year earnings has increased by 0.7% in the past 60 days. ESI beat the consensus estimate in three of the last four quarters while delivering in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of around 3.8%, on average.The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 61% in the past year.

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Element Solutions Inc. (ESI) : Free Stock Analysis Report

Newmont Corporation (NEM) : Free Stock Analysis Report

FMC Corporation (FMC) : Free Stock Analysis Report

Eldorado Gold Corporation (EGO) : Free Stock Analysis Report

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(Bloomberg) — Hedge funds are slashing bets on an oil rally amid a rout. Iron ore is on a downward trend as declines for steel prices in China bite. And biofuels are getting a boost over oil in Brazil.

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	Tonnage	Grade	Contained
Reserve & Resource Estimate	(000 t Material)	(g/t Au)	(000 oz Au)
Proven & Probable Reserves	20,000	1.7	1,100
Indicated Resources	21,000	1.9	1,300
Inferred Resources	7,300	1.8	410
Total Resources	28,300	1.9	1,710
Note: (1)(2)(3)(4)(5)(6)(7)

	Tonnage	Grade	Contained
Resource Estimate	(000 t Material)	(g/t Au)	(000 oz Au)
Indicated Resources	8,200	1.6	425
Inferred Resources	3,100	1.5	152
Total Resources	11,300	1.6	577
Note: (1)(2)(3)(4)(5)(6)(7)

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1.	For details on the estimation of mineral resources and reserves, including the key assumptions, parameters and methods used to estimate the mineral resources and mineral reserves, Canadian investors should refer to the ASX JORC Code Technical Reports for CentroGold and on file at www.asx.com.au and the Oz Minerals 2020 Annual Report.
2.	See Oz Minerals December 2020 Quarterly Report Presentation.
3.	See technical report titled "Gurupi province potential strengthened on CentroGold Pre-Feasibility Study" dated July 11, 2019 and report titled "CentroGold Project Combined 'Blanket' and 'Contact' Mineral Resource as at 06 May 2019 and Ore Reserve as at 24 June 2019 Statement".
4.	See Avanco Copper Chega Tudo ASX technical report titled "CentroGold Resources Increase 45% and Exceeds 1.8 Million Ounces" dated November 13 2017.
5.	Numbers may not add due to rounding.
6.	Mineral resources which are not mineral reserves do not have demonstrated economic viability.
7.	Mineral resources are inclusive of mineral reserves.